Ceva, Inc. has reported its financial results for the third quarter of 2025, showing a total revenue of $28.4 million, which is up 11% sequentially and 4% year-over-year. Licensing and related revenue for the third quarter of 2025 was $16.0 million, compared to $15.6 million reported for the same quarter a year ago. Royalty revenue for the third quarter of 2025 was $12.4 million, compared to $11.6 million reported for the third quarter of 2024.
The company's GAAP gross margin for the third quarter of 2025 was 88%, up from 85% in the third quarter of 2024. GAAP operating loss for the third quarter of 2025 was $2.1 million, an improvement from a GAAP operating loss of $2.6 million for the same period in 2024. However, GAAP net loss for the third quarter of 2025 was $2.5 million, as compared to a GAAP net loss of $1.3 million reported for the same period in 2024.
Non-GAAP gross margin for the third quarter of 2025 was 89%, compared to 87% for the same period in 2024. Non-GAAP operating income for the third quarter of 2025 was $3.1 million, compared to non-GAAP operating income of $2.1 million reported for the third quarter of 2024. Non-GAAP net income and diluted income per share for the third quarter of 2025 were $2.7 million and $0.11, respectively, down from non-GAAP net income and diluted income per share of $3.4 million and $0.14, respectively, reported for the third quarter of 2024.
Ceva-powered device shipments reached 579 million units, including record wireless IoT shipments, reinforcing the company's leadership in wireless IP. The company also completed twelve IP licensing agreements targeting various end markets and applications.
The market has reacted to these announcements by moving the company's shares -2.24% to a price of $25.575. For more information, read the company's full 8-K submission here.
