Rockville software licensor Ceva sees big jump in quarterly revenue

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Ceva Inc., a licensor of silicon and software IP, reported a 24% jump in total revenue for the second quarter of 2024, according to the earnings report released Wednesday by the Rockville-based company.

Total revenue for the second quarter of 2024 was $28.4 million, up 24%, compared to $22.9 million reported for the second quarter of 2023. Licensing and related revenue for the second quarter of 2024 was $17.3 million, up 28%, compared to $13.6 million reported for the same quarter a year ago. Royalty revenue for the second quarter of 2024 was $11.2 million, up 19%, compared to $9.4 million reported for the same quarter a year ago.

The company signed 11 new agreements in the quarter, including five deals with original equipment manufacturers. Royalty revenue was $11.2 million, up 19% year-over-year and Ceva-powered shipments were 461 million units, up 25% year-over-year.

Ceva also launched Ceva-Waves-Links, a Multi-Protocol wireless platform IP family to accelerate enhanced connectivity in MCUs and SOCs for IoT and Smart Edge AI applications, extended its Smart Edge IP leadership with Ceva-NeuPro-Nano, a TinyML Optimized family of NPUs for AIoT devices and achieved an important milestone of surpassing 18 billion Ceva-powered devices shipped.

The 11 new IP licensing agreements targeted a wide range of end markets and applications, including AI solutions for industrial and consumer edge AI devices, next-generation wireless infrastructure to enable ubiquitous AI, 5G satellite, 5G RedCap and Bluetooth connectivity for wearables and hearables.