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Ceva (CEVA) Q1 2025 earnings results (first quarter 2025)

10-Q filed May 8, 2025

Ceva (CEVA) reported revenue of $24.2M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -17% from the quarter before. Operating margin was -18.1%, net loss $3.3M (13.7% of revenue).

Revenue$24.2M
Year over year+10%
Quarter over quarter-17%
Operating margin-18.1%
Net earnings−$3.3M

Ceva, Q1 2025: revenue $24.2M (+10% year over year), operating margin -18.1%, net loss $3.3M, operating cash flow −$7.4M. The chart follows the revenue to costs, profit and cash.

Q1 2025AmountQ/QY/Y
Revenue$24.2M-17%+10%
Operating profit−$4.4M-6022%—
Net earnings−$3.3M——
Operating cash flow−$7.4M-192%—

What changed

Revenue was $24.2M in Q1 2025, up 10% year over year and down 17% from the previous quarter. License was the largest line at 62% of revenue. License added $3.6M year over year (up 32%), 167% of the total change. Royalty declined 14%.

Gross margin was 85.6%, down 3.0 points from a year earlier. Operating costs exceeded revenue by $4.4M, an operating margin of -18.1%. Operating expenses grew 2% against revenue growth of 10%. The fastest-growing cost line was Sales & marketing (+22%). The quarter ended with a net loss of $3.3M, wider than the previous quarter's $1.7M loss. Non-operating items added $2.0M, -88% of pre-tax earnings, so the bottom line overstates operating performance.

Operating cash flow was −$7.4M. Non-cash charges added back $800K of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items used $9.2M. Capital expenditures of $311K exceeded it, leaving free cash flow of −$7.7M.

Questions

What was Ceva's revenue in the first quarter 2025?

Ceva (CEVA) reported revenue of $24.2M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -17% from the quarter before.

Was Ceva profitable in the first quarter 2025?

Operating loss was $4.4M (-18.1% of revenue) and net loss $3.3M.

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Source: Ceva 10-Q on SEC EDGAR.