Ceva, Inc. has announced its financial results for the second quarter of 2025, showing a total revenue of $25.7 million, which is up 6% sequentially. The company signed 4 licensing deals for Neupro NPUs, marking a pivotal moment for Ceva’s AI business, and secured 2 strategic automotive IP agreements with U.S. companies for V2X and 4D radar.
Ceva-powered device shipments reached 488 million units in the quarter, including record cellular IoT and Wi-Fi 6 shipments. The company also surpassed the milestone of 20 billion Ceva-powered devices shipped, emphasizing its technology leadership and deep industry partnerships for more than two decades.
In terms of financial performance, the total revenue for the second quarter of 2025 was $25.7 million, compared to $28.4 million reported for the second quarter of 2024. Licensing and related revenue for the second quarter of 2025 was $15.0 million, compared to $17.3 million reported for the same quarter a year ago. Royalty revenue for the second quarter of 2025 was $10.7 million, compared to $11.2 million reported for the second quarter of 2024.
Despite the increase in total revenue sequentially, the GAAP gross margin for the second quarter of 2025 was 86%, down from 90% in the second quarter of 2024. The GAAP operating loss for the second quarter of 2025 was $4.5 million, compared to a GAAP operating loss of $0.04 million for the same period in 2024. The GAAP net loss for the second quarter of 2025 was $3.7 million, as compared to a GAAP net loss of $0.3 million for the same period in 2024.
Non-GAAP gross margin for the second quarter of 2025 was 87%, a decrease from 91% for the same period in 2024. Non-GAAP operating income for the second quarter of 2025 was $0.8 million, down from non-GAAP operating income of $4.4 million reported for the second quarter of 2024. Non-GAAP net income and diluted income per share for the second quarter of 2025 were $1.8 million and $0.07, respectively, compared with non-GAAP net income and diluted income per share of $4.2 million and $0.17, respectively, reported for the second quarter of 2024.
Amir Panush, CEO of Ceva, emphasized the company's expanded AI licensing deals and good execution across its use cases, as well as the growing demand for its industry-leading edge AI technologies. The company remains focused on delivering sequential and year-over-year growth in the second half of the year.
The company repurchased 300,000 shares of Ceva stock for approximately $6.2 million during the quarter, and it conducted a conference call on August 11, 2025, to discuss its operating performance for the quarter. Today the company's shares have moved -1.2% to a price of $21.46. Check out the company's full 8-K submission here.
