Ceva Inc. Reports $106.9 Million Revenue for Fiscal Year 2024, 10% Increase from 2023

Ceva Inc. reported a total revenue of $106.9 million for the fiscal year ending December 31, 2024, marking a 10% increase from $97.4 million in 2023. The growth was driven by strong performance in both licensing and royalty revenues, with royalties alone increasing by 18% year-over-year to $46.9 million. The company achieved a significant milestone by shipping a record 2 billion units powered by its technology, including 1.1 billion Bluetooth devices and 179 million Wi-Fi devices. Despite the revenue growth, Ceva recorded a net loss of $8.8 million, an improvement from a loss of $11.9 million in the previous year.

In terms of operational changes, Ceva signed 43 licensing agreements in 2024, down from 53 in 2023, but included notable long-term agreements with major customers in the mobile and consumer electronics sectors. The company’s strategic focus on expanding its portfolio in wireless connectivity and Edge AI technologies has positioned it to capitalize on emerging market trends, particularly in the consumer Internet-of-Things (IoT) and automotive sectors. The company also launched new products, including the NeuPro-Nano Edge AI NPUs, which are expected to enhance its competitive edge in the market.

Geographically, Ceva's revenue distribution showed a significant reliance on international markets, with 81% of total revenues coming from customers outside the United States. Notably, revenues from China accounted for 49% of total revenues in 2024, although this represented a decline from previous years due to geopolitical tensions and a slowdown in design activity. The company aims to diversify its customer base further in Europe and the U.S. to mitigate risks associated with its heavy reliance on the Asia Pacific region.

Ceva's operational expenses totaled $101.7 million in 2024, slightly up from $99.2 million in 2023, primarily due to increased allowances for credit losses and higher sales and marketing expenses. The company maintained a workforce of approximately 428 employees, with a significant portion dedicated to research and development, which is critical for sustaining its innovation pipeline. Ceva's commitment to R&D is reflected in its ongoing investments, which are expected to continue as it seeks to enhance its product offerings and market presence.

Looking ahead, Ceva anticipates continued revenue growth in 2025, projecting an increase of 7% to 11%. The company expects its licensing and related revenues to expand into new markets, particularly in industrial IoT and consumer IoT devices. With a strong pipeline of new products and strategic partnerships, Ceva is well-positioned to leverage its technological advancements and market leadership in wireless connectivity and Edge AI solutions.