CEVA Q1 2023 revenue down 16% YoY to $28.7M; GAAP net loss $4.9M

CEVA INC

2023-Q1 EPS reported -$0.21 revenue$28,735,000

GAAP diluted loss per share $0.21 vs $0.07 loss a year ago; non-GAAP EPS $0.00 vs $0.18.
Licensing/NRE revenue $20.7M (-7% YoY); royalty revenue $8.0M (-33% YoY) due to inventory adjustments and weak smartphone/PC demand.
Acquired VisiSonics RealSpace 3D spatial audio business to boost hearables and IoT application software licensing.
Three new Wi-Fi 6 royalty payers in Q1, marking start of Wi-Fi 6 royalty cycle.
GAAP operating loss $4.8M vs income $0.5M in Q1 2022; non-GAAP operating income only $0.07M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CEVA INC reported the first quarter ended March 31, 2023 results: revenue $28.7 million, net income $4.9 million, EPS $0.21.

Period: the first quarter ended March 31, 2023
Revenue: $28.7 million
Net income: $4.9 million
EPS: $0.21
Result: reported results

Exact text from the filing

CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies and custom SoC solutions, today announced its financial results for the first quarter ended March 31, 2023. Total revenue for the first quarter of 2023 was $28.7 million

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Source: SEC EDGAR

accession 0001437749-23-013426

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