NASDAQ$CEVA

Ceva Inc. · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Achieved record quarterly total revenue and signed a strategic agreement with a large smartphone OEM for in-house cellular modem development.

CEVA announced record fourth-quarter results with total revenue reaching $28.3 million, a 32% increase year-over-year. The company also achieved record licensing and royalty revenues, driven by strong performance in non-handset baseband technologies and new handset launches.

  • Record quarterly total revenue of $28.3 million, up 32% year-over-year.
  • Record 360 million CEVA-powered devices shipped in the fourth quarter, up 45% year-over-year.
  • Completed 21 agreements in the fourth quarter.
  • Strong growth in non-handset baseband royalty revenue of $13 million, up 49% year-over-year.

Headline financials

Total Revenue

$28.3M

Previous: $21.4M+32.3%
EPS (adj)

$0.30

Previous: $0.23+30.4%
IP licensing agreements

21

No prior period
Ceva-powered devices shipped

360.0M

Previous: 0
Capital Expenditures

$797K

Previous: $406K+96.3%
Free Cash Flow

$4.56M

Previous: $4.12M+10.5%
Net Income

$3.1M

Previous: $2.3M+34.6%
Operating Income

$3.1M

Previous: $2.17M+42.7%
Gross Profit

$25.5M

Previous: $19.4M+31.3%
Cash & Equivalents

$150M

Previous: $22.3M+573.9%
Total Assets

$297M

Previous: $277M+7.1%
Stock-Based Comp

$2.87M

Previous: $2.28M+25.7%

Revenue & EPS history

Ceva · Revenue · Quarterly

$28.3M

Q4 2019+32.3%vs Q4 2018
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Ceva · $28.3M total across 2 segments · Q4 2019

  • Licensing and related revenues
    $14.8M+41.0%
  • Royalties
    $13.5M+23.9%

Forward guidance

CEVA expects to continue its top-line revenue growth, driven by strong momentum in licensing and expansion in royalties from non-handset baseband products.

Tailwinds

  • Strong momentum in licensing.
  • Expansion in royalties from non-handset baseband products.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

-1.0%

Avg return

Earnings day

-1.2%

Avg return

5 days after

-2.6%

Avg return

30 days after

43%

28 / 65 earnings

Positive

+26.8%

Q2 2024

Best reaction

-20.8%

Q4 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.4%-1.3%+11.1%
Q4 2025-9.8%-14.2%-16.3%
Q3 2025-0.6%-6.1%-10.9%
Q1 2025-20.0%-18.8%-23.6%
Q4 2024+10.2%+12.8%-2.7%
Q3 2024+12.3%+11.2%+25.7%
Q2 2024+26.8%+25.1%+42.7%
Q1 2024-7.4%-5.1%-5.2%
Q4 2023+21.3%+14.2%+14.8%
Q3 2023-8.2%-2.1%+6.0%
Q2 2023-12.5%-17.4%-8.4%
Q1 2023-15.4%-13.3%-1.2%
Q4 2022-5.8%-4.7%-15.4%
Q3 2022-3.8%-4.4%-8.6%
Q2 2022-10.8%-8.9%-25.2%
Q1 2022-6.0%+1.0%+4.8%
Q4 2021+13.2%+8.4%+5.5%
Q3 2021-7.4%-2.8%-9.2%
Q2 2021-6.1%-10.8%-10.0%
Q1 2021-12.3%-18.1%-15.0%
Q4 2020+2.1%+0.6%-19.2%
Q3 2020-0.8%-4.2%-4.6%
Q2 2020+1.7%+1.8%-9.2%
Q1 2020-3.3%-5.7%+3.7%
Q4 2019+20.2%+11.4%-25.9%
Q3 2019-0.8%+0.4%-2.1%
Q2 2019+13.3%+19.4%+16.2%
Q1 2019-3.8%-4.3%-5.5%
Q4 2018-11.0%-6.9%-8.2%
Q3 2018+4.7%+0.6%-6.6%
Q2 2018-12.3%-9.1%-7.4%
Q1 2018-11.7%-7.7%-0.6%
Q4 2017-10.7%-9.7%-1.7%
Q3 2017-6.5%-3.3%-2.8%
Q2 2017-6.0%-5.4%-11.1%
Q1 2017+12.7%+20.6%+20.7%
Q4 2016-5.0%+0.6%-5.4%
Q3 2016+1.0%+2.0%-1.0%
Q2 2016+10.2%+7.5%+9.2%
Q1 2016+15.8%
Q4 2015-20.8%
Q3 2015+5.4%
Q2 2015+8.8%
Q1 2015-10.5%
Q4 2014+7.4%
Q3 2014-0.1%
Q2 2014-1.8%
Q1 2014+0.4%
Q4 2013+9.8%
Q3 2013+3.2%
Q2 2013+1.7%
Q1 2013+1.1%
Q4 2011-0.4%
Q4 2012-14.3%
Q3 2012+0.5%
Q2 2012-4.0%
Q1 2011-0.2%
Q1 2012-20.6%
Q4 2009+1.4%
Q3 2011-7.3%
Q3 2010-7.3%
Q2 2010+2.2%
Q2 2011+2.2%
Q4 2010+2.2%
Q1 2010+8.2%

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