CEVA · CEVA, Inc.

Ceva, Inc. delivered a robust start to 2026 with Q1 total revenues of $27.0 million, up 11% from Q1 2025, primarily fueled by licensing and related revenues surging 18% to $17.8 million—the highest in three years—driven by 14 IP licensing agreements, including multi-technology deals and a major Bluetooth High Data Throughput (HDT) win incorporating proprietary RF technology. Royalty revenues held steady at $9.2 million, with smart edge royalties rising 8% year-over-year on record Wi-Fi shipments, cellular IoT, 5G infrastructure, and automotive AI contributions. AI notably exceeded 20% of licensing revenues, bolstered by production milestones like the Renesas R-Car V4H in the 2026 Toyota RAV4 and a collaboration with NXP for software-defined vehicle processors, signaling accelerating edge AI adoption.

GAAP gross margin remained stable at 86%, while non-GAAP improved slightly to 87%. Operating expenses rose to $28.4 million from $25.1 million, reflecting higher R&D at $19.8 million amid investments in integrated solutions like PentaG-NTN and next-gen Ultra-Wideband platforms. This led to a GAAP operating loss of $5.1 million (vs. $4.4 million prior year) but non-GAAP operating income of $0.5 million (up from $0.3 million). Net results showed a GAAP loss of $4.5 million or $0.16 per share, compared to $3.3 million or $0.14 last year; non-GAAP net income was $1.1 million or $0.04 per share.

CEO Amir Panush emphasized execution on system-level solutions, expanding value per design in connectivity and AI, with encouraging royalty trends in IoT partially offset by smartphone weakness. CFO Yaniv Arieli highlighted improved deal economics and diversification, while managing U.S. dollar impacts. No forward guidance was provided, but the pipeline and production ramps position Ceva for sustained growth in smart edge markets.