CEVA, Inc. (CEVA): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique de l'innovation semi-conducteurs, CEVA, Inc. est une force transformatrice, révolutionnant la connectivité sans fil et les technologies de l'IA grâce à sa toile révolutionnaire du modèle commercial. En tirant stratégiquement les licences de propriété intellectuelle, la recherche de pointe et les partenariats collaboratifs, CEVA fournit des solutions de processeurs de haute performance qui alimentent les appareils mobiles, automobiles et IoT les plus avancés à l'échelle mondiale. Cette exploration complète dévoile comment l'approche unique de CEVA permet aux chefs de file de la technologie d'accélérer l'innovation, de réduire le délai de marché et de débloquer un potentiel technologique sans précédent dans plusieurs industries.

CEVA, Inc. (CEVA) - Modèle d'entreprise: partenariats clés

Partenaires de licence de semi-conducteurs et de propriété intellectuelle

CEVA entretient des partenariats critiques avec les principaux fournisseurs de propriété intellectuelle de semi-conducteurs (IP):

Partenaire	Focus de partenariat	Année établie
Holdings ARM	Licence DSP et CPU IP	2002
Synopsys	Automatisation et vérification de conception	2010

Fabricants d'équipements d'origine (OEM)

CEVA collabore avec plusieurs OEM dans les secteurs mobiles et IoT:

• Apple Inc.
• Samsung Electronics
• Xiaomi Corporation
• Huawei Technologies

Collaborations de développement technologique

Les partenariats stratégiques de développement technologique comprennent:

Concepteur de puces	Zone de collaboration	Montant d'investissement
Qualcomm	Technologies de modem 5G	12,5 millions de dollars
Médiatiser	Solutions de connectivité IoT	8,3 millions de dollars

Entreprises de technologie de communication sans fil

Alliances stratégiques de technologie sans fil: CLÉS:

• Broadcom Limited
• Intel Corporation
• Marvell Technology Group

CEVA, Inc. (CEVA) - Modèle d'entreprise: activités clés

Licence de propriété intellectuelle (IP) pour les processeurs de signaux numériques

CEVA a généré 122,1 millions de dollars de revenus totaux pour l'exercice 2023, avec une partie importante dérivée des activités de licence IP.

Métriques de licence IP	Performance de 2023
Revenu total de licences IP	87,4 millions de dollars
Nombre de cœurs DSP agréés	2,1 milliards d'expédition cumulatives
Taux de redevance sur les licences IP	0,15 $ - 0,50 $ par unité

Développement des technologies de connectivité sans fil et de vision par ordinateur

• A investi 52,3 millions de dollars en R&D pour les technologies sans fil en 2023
• Développement du portefeuille IP de vision informatique Neuralhash
• Plate-formes de connectivité 5G et Wi-Fi pris en charge

Recherche et innovation dans l'IA et les algorithmes d'apprentissage automatique

CEVA alloué 64,7 millions de dollars à l'IA et à la recherche sur l'apprentissage automatique en 2023.

Zones de mise au point de recherche sur l'IA	Investissement
Accélération du réseau neuronal	23,5 millions de dollars
Développement d'algorithmes d'apprentissage automatique	18,2 millions de dollars
Conception IP de matériel AI	23 millions de dollars

Conception et optimisation des noyaux IP semi-conducteurs

• Développé 12 nouveaux conceptions de noyau IP semi-conducteur en 2023
• Technologies de processus 7nm et 5 nm
• Généré 38 nouveaux brevets de conception de semi-conducteurs

Gestion du portefeuille de création de brevets et de technologie

CEVA a maintenu un Portefeuille de brevets de 1 287 brevets accordés En décembre 2023.

Répartition du portefeuille de brevets	Nombre de brevets
Traitement du signal numérique	512 brevets
IA et apprentissage automatique	328 brevets
Connectivité sans fil	247 brevets
Vision par ordinateur	200 brevets

CEVA, Inc. (CEVA) - Modèle d'entreprise: Ressources clés

Portefeuille de brevets

Depuis 2024, CEVA détient 1 300+ brevets actifs À travers les technologies sans fil et AI. Répartition du portefeuille de brevets:

Catégorie de brevet	Nombre de brevets
Technologies sans fil	672
IA et apprentissage automatique	428
Traitement du signal	200

Ingénierie et ressources de R&D

Composition de l'équipe R&D de CEVA:

• Total des employés de R&D: 542
• Tapisseurs de doctorat: 127
• Expérience de R&D moyenne: 12,5 ans

Capacités de conception de semi-conducteurs

Les ressources de conception de semi-conducteurs comprennent:

• Centres de conception dans 5 pays
• Licences avancées de l'outil EDA: 286
• Investissement annuel de R&D: 98,4 millions de dollars

Actifs de la propriété intellectuelle

Domaine technologique	Actifs IP
Cœurs DSP	47
Architectures de réseau neuronal	22
IP de protocole sans fil	33

Ressources financières

Les mesures financières soutiennent l'innovation:

• Equivalents en espèces et en espèces: 213,6 millions de dollars
• Actif total: 526,7 millions de dollars
• Ratio de dépenses de R&D: 24,3% des revenus

CEVA, Inc. (CEVA) - Modèle d'entreprise: propositions de valeur

Solutions IP de processeur à haute performance et éconergétiques

CEVA propose des solutions IP de processeur avec les spécifications clés suivantes:

Type de processeur	Métriques de performance	Efficacité énergétique
CEVA-X2	2,5 hauts / W	Consommation d'énergie 0,5 W
Ceva-neupro	3.0 TOPS / W	0,4W Consommation d'énergie

Technologies de pointe pour les marchés mobiles, automobiles et IoT

Le portefeuille technologique de CEVA englobe:

• Solutions de connectivité mobile avec des capacités 5G / 6G
• Plates-formes de traitement de l'IA automobile
• Technologies de fusion de capteurs IoT

Propriété intellectuelle des semi-conducteurs personnalisables et évolutifs

CEVA fournit des licences IP avec la pénétration du marché suivante:

Segment de marché	Déploiements de licence IP	Contribution des revenus
Mobile	1 200+ déploiements	52,3 millions de dollars
Automobile	350+ déploiements	28,7 millions de dollars
IoT	800+ déploiements	35,6 millions de dollars

Traitement avancé du signal et technologies de vision informatique

Les capacités de traitement du signal de CEVA comprennent:

• Accélération du réseau neuronal d'apprentissage en profondeur
• Algorithmes de vision informatique avec une précision de 95%
• Traitement d'image et vidéo en temps réel

Réduction du temps de marché pour les fabricants de semi-conducteurs et d'appareils

La technologie de CEVA permet des cycles de développement plus rapides:

Métrique de développement	Performance
Réduction du cycle de conception	40% plus rapidement
Accélération du temps de commercialisation	6-9 mois plus court

CEVA, Inc. (CEVA) - Modèle d'entreprise: relations avec les clients

Services de support technique et de consultation

CEVA fournit un support technique complet avec des ressources d'ingénierie dédiées dans plusieurs régions géographiques. Au quatrième trimestre 2023, la société maintient plus de 300 personnes de soutien technique dans le monde.

Région de soutien	Nombre d'ingénieurs de support	Temps de réponse moyen
Amérique du Nord	125	4 heures
Europe	95	5 heures
Asie-Pacifique	80	6 heures

Licence en cours et support technologique

CEVA propose plusieurs modèles de licence avec des revenus récurrents annuels de 138,4 millions de dollars en 2023.

• Accords de licence perpétuelle
• Licence annuelle basée sur l'abonnement
• Packages de licence d'entreprise personnalisés

Partenariats de développement de produits collaboratifs

CEVA entretient des partenariats stratégiques avec 47 sociétés de semi-conducteurs et technologiques en 2023.

Type de partenariat	Nombre de partenaires	Contribution des revenus
Partenaires technologiques stratégiques	22	62,3 millions de dollars
Partenaires de collaboration de recherche	15	28,7 millions de dollars
Partenaires de co-création de développement	10	47,5 millions de dollars

Mises à jour et mises à niveau de la technologie régulières

CEVA publie 4-6 mises à jour de la plate-forme technologique majeure chaque année, avec un taux d'adoption des clients de 92%.

Équipes d'ingénierie et de réussite client dédiées

L'entreprise emploie 215 professionnels de la réussite des clients dans les bureaux mondiaux, avec un taux moyen de rétention de la clientèle de 87% en 2023.

Métrique de réussite du client	Performance de 2023
Taux de rétention de la clientèle	87%
Score de satisfaction du client	4.6/5
Temps d'engagement client moyen	24 mois

CEVA, Inc. (CEVA) - Modèle d'entreprise: canaux

Équipe de vente directe

L'équipe de vente directe de CEVA opère à l'échelle mondiale avec 237 professionnels des ventes au quatrième trimestre 2023, couvrant les principaux marchés technologiques en Amérique du Nord, en Europe et en Asie.

Région	Taille de l'équipe de vente	Contribution des revenus
Amérique du Nord	89 professionnels	42% du total des ventes
Asie-Pacifique	78 professionnels	33% du total des ventes
Europe	70 professionnels	25% du total des ventes

Accords de licence de technologie

CEVA maintient 126 accords de licence de technologie active avec des fabricants et fabricants d'appareils semi-conducteurs en 2024.

• Revenus de licence: 98,3 millions de dollars en 2023
• Valeur du contrat de licence moyen: 780 000 $
• Les licences clés incluent Qualcomm, MediaTek et ST Microelectronics

Documentation technique en ligne et ressources

CEVA fournit des ressources techniques en ligne complètes avec 42 587 comptes de développeurs enregistrés en janvier 2024.

Type de ressource	Nombre de ressources	Accès mensuel
Documentation technique	1 247 documents	18 345 vues uniques
Références API	876 Spécifications de l'API	12 764 téléchargements
Tutoriels vidéo	214 vidéos techniques	9 876 vues

Conférences de l'industrie et expositions technologiques

CEVA participe à 18 grandes conférences de technologie et expositions chaque année.

• Investissement total de conférence: 2,4 millions de dollars en 2023
• Coût moyen du stand d'exposition: 135 000 $
• Événements clés: Mobile World Congress, CES, monde intégré

Réseaux de partenariat stratégiques

CEVA entretient 87 partenariats stratégiques à travers les écosystèmes de la technologie semi-conducteurs, IoT et IA.

Catégorie de partenariat	Nombre de partenaires	Projets collaboratifs
Fabricants de semi-conducteurs	42 partenaires	67 projets actifs
Fournisseurs de plate-forme IoT	23 partenaires	38 projets actifs
AI / Machine Learning Companies	22 partenaires	32 projets actifs

CEVA, Inc. (CEVA) - Modèle d'entreprise: segments de clientèle

Fabricants de smartphones

CEVA fournit des technologies IP et DSP aux principaux fabricants de smartphones dans le monde.

Client	Part de marché	Technologie clé
Pomme	23.3%	Plates-formes DSP
Samsung	20.1%	IP de réseau neuronal
Xiaomi	13.5%	IP du processeur AI

Sociétés électroniques automobiles

CEVA sert des fabricants de semi-conducteurs et d'électronique automobiles.

• Toyota: 15% de pénétration du marché
• BMW: 12% adoption de la technologie
• Tesla: 10% de licence IP

Producteurs de périphériques IoT

CEVA fournit des solutions IP à faible puissance pour les appareils IoT.

Segment IoT	Contribution des revenus
Appareils à domicile intelligents	42,3 millions de dollars
IoT industriel	35,7 millions de dollars

Sociétés de conception de semi-conducteurs

CEVA prend en charge les principales sociétés de semi-conducteurs avec des cœurs IP.

• Qualcomm: 18% d'intégration technologique
• MediaTek: 15% de licence IP
• Broadcom: 12% de solutions DSP

Fabricants d'électronique grand public

CEVA fournit une technologie pour diverses plates-formes électroniques grand public.

Catégorie électronique	Pénétration du marché
Portables	22% de part de marché
Appareils audio	19% adoption de la technologie

CEVA, Inc. (CEVA) - Modèle d'entreprise: Structure des coûts

Investissements de recherche et développement

CEVA, Inc. a déclaré des dépenses de R&D de 77,1 millions de dollars pour l'exercice 2022, ce qui représente 35,8% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2022	77,1 millions de dollars	35.8%
2021	68,3 millions de dollars	33.6%

Entretien des brevets et frais de propriété intellectuelle

CEVA a investi environ 5,2 millions de dollars de maintenance des brevets et de protection de la propriété intellectuelle en 2022.

• Brevets actifs totaux: 350+
• Coût de dépôt de brevets et d'entretien par brevet: 14 857 $

Recrutement et rétention des talents d'ingénierie

Les dépenses totales du personnel pour les talents d'ingénierie en 2022 étaient de 112,5 millions de dollars.

Catégorie	Coût annuel
Salaires totaux d'ingénierie	98,3 millions de dollars
Frais de recrutement	6,2 millions de dollars
Formation et développement	8 millions de dollars

Infrastructures technologiques et outils de conception

CEVA a dépensé 22,6 millions de dollars sur l'infrastructure technologique et les outils de conception en 2022.

• Infrastructure de cloud computing: 8,4 millions de dollars
• Licences de logiciel de conception: 6,2 millions de dollars
• Matériel et équipement: 7,9 millions de dollars

Frais de marketing et de développement commercial

Les coûts de marketing et de développement commercial ont totalisé 24,3 millions de dollars en 2022.

Catégorie de dépenses	Coût annuel
Marketing numérique	9,1 millions de dollars
Salon du commerce et participation de la conférence	5,7 millions de dollars
Dépenses de l'équipe de vente	7,5 millions de dollars
Initiatives de développement commercial	2 millions de dollars

CEVA, Inc. (CEVA) - Modèle d'entreprise: Strots de revenus

Frais de licence de propriété intellectuelle

Au cours de l'exercice 2023, CEVA a déclaré que les revenus totaux de licence et de redevance de 127,4 millions de dollars. La société génère des revenus importants de la licence de ses cœurs DSP et de ses technologies AI / Neural Network aux sociétés de semi-conducteurs et de systèmes.

Catégorie de licence IP	Revenus (2023)
Licence de processeur de signal numérique (DSP)	87,6 millions de dollars
AI / Machine Learning IP Licensing	39,8 millions de dollars

Paiements de redevances des implémentations technologiques

CEVA reçoit des paiements de redevances en fonction des expéditions de puces incorporant ses technologies IP sur plusieurs segments de marché.

• Sans fil & Connectivité: 52,3 millions de dollars en redevances
• Automobile & Industriel: 41,2 millions de dollars en redevances
• Vision par ordinateur & IA: 33,9 millions de dollars en redevances

Concevoir des ventes IP

CEVA propose des solutions de propriété intellectuelle de conception complète pour diverses plates-formes technologiques.

Concevoir le segment IP	Contribution des revenus
IP de communication sans fil	43,5 millions de dollars
IP de vision de l'ordinateur	29,7 millions de dollars
IP automobile	22,6 millions de dollars

Services de consultation technologique

CEVA fournit des services de conseil en technologie spécialisés et de soutien à l'ingénierie aux sociétés de semi-conducteurs et de systèmes.

• Revenu total de consultation: 15,2 millions de dollars en 2023
• Valeur du projet de consultation moyenne: 475 000 $

Accords de licence basés sur le rendement

CEVA met en œuvre des modèles de licence basés sur les performances qui génèrent des revenus basés sur des jalons technologiques spécifiques et des expéditions de puces.

Métrique de performance	Impact sur les revenus
Royalités d'expédition de puces	67,8 millions de dollars
Paiements de jalons de la technologie	12,4 millions de dollars

CEVA, Inc. (CEVA) - Canvas Business Model: Value Propositions

CEVA, Inc. delivers differentiated solutions that combine outstanding performance at ultra-low power within a very small silicon footprint.

The value proposition centers on enabling customers to accelerate innovation by offering a unified IP portfolio that integrates wireless, sensing, and AI capabilities. This approach helps customers reduce complexity and time-to-market.

The high-margin nature of the IP business reflects the inherent value delivered, with GAAP Gross Margin reaching 88% in the third quarter of 2025, up from 85% in the third quarter of 2024.

The platform is designed to support the three core use cases of the Smart Edge:

• Connect: Ubiquitous, robust communications.
• Sense: Sensor fusion and spatial awareness.
• Infer: On-device, real-time decision-making via AI.

The scale of adoption is evident in the total units shipped by CEVA, Inc. licensees, which reached 579 million units in the third quarter of 2025.

The market-leading wireless IP portfolio underpins this connectivity value proposition:

• CEVA, Inc. was named the number one vendor in Wireless Connectivity IP by IPnest in its latest 2025 Design IP Report.
• The company's wireless connectivity IP market share grew to 68% in 2024, more than 10 times larger than its closest peer.
• The portfolio includes support for the latest standards, with licensing wins secured for Wi-Fi 7 and Bluetooth high throughput IP.
• The Ceva-Waves Bluetooth IP solutions power more than 1 billion devices worldwide annually.
• The company is the first IP vendor to achieve Bluetooth 6.0 qualification with Channel Sounding support, adopted by more than 10 customers.

The strategic pivot to Edge AI is a significant driver, with the AI processor licensing segment reaching a major milestone:

AI processor licensing contributed approximately one-third of the total licensing revenue in both the second and third quarters of 2025.

For context on the revenue mix and shipment volume in the latest reported quarter (Q3 2025):

Metric	Amount / Percentage (Q3 2025)
Total Revenue	$28.4 million
Licensing and Related Revenue	$16.0 million (56% of total revenue)
Royalty Revenue	$12.4 million (44% of total revenue)
Total Ceva-powered Device Shipments	579 million units
Cellular IoT Shipments (Record)	69 million units (up 41% year-over-year)
Bluetooth Shipments	303 million units

Finance: model the Q4 2025 licensing revenue based on the AI contribution being sustained by the end of the year.

CEVA, Inc. (CEVA) - Canvas Business Model: Customer Relationships

You're looking at how CEVA, Inc. locks in its customers, which is almost entirely through intellectual property (IP) licensing and the subsequent royalties. This relationship structure is designed for long-term, high-margin revenue capture, but it means customer success directly dictates a large portion of CEVA, Inc.'s income.

Long-term, multi-year licensing agreements

The foundation of the relationship is securing the upfront licensing fees, which are often tied to multi-year commitments. These agreements are critical for future royalty visibility. For instance, the AI wins secured in the second and third quarters of 2025 are explicitly described as multi-year agreements that provide good visibility into future revenue streams.

The licensing execution in Q3 2025 was strong, with twelve IP licensing agreements concluded in that quarter alone. This contrasts with the eleven agreements concluded in Q1 2025. These deals span multiple technology areas, including a portfolio license for the full NeuPro NPU family signed with Microchip in Q3 2025.

The structure of these upfront payments is clear:

Metric	Q3 2025 Value	Q1 2025 Value
Licensing and Related Revenue	$16.0 million	$15.0 million
Total Revenue	$28.4 million	$24.2 million

Dedicated technical support and consulting services

While CEVA, Inc. divested a lower-margin design services business two years ago, the current customer relationship still involves significant technical engagement to ensure IP integration success. This support is bundled within the licensing and related revenue stream, which totaled $16.0 million in Q3 2025. The company's focus is on providing complete silicon IP solutions, which inherently requires deep technical partnership to get customer products to market faster, such as the recent addition of an RF team to support customers with Bluetooth 7 standard implementation.

The customer relationship is characterized by:

• Securing design wins for advanced standards like Wi-Fi 7.
• Providing AI DSP support for automotive ADAS.
• Enabling spatial audio software integration for PC OEMs.

Success-based royalty model tied to customer unit shipments

The success-based component is the royalty stream, which is directly tied to the volume of Ceva-powered chips shipped by customers. This is the annuity component of the business model. In Q3 2025, royalty revenue reached $12.4 million. This represented 43.7% of the total revenue for that quarter, based on the $16.0 million licensing revenue.

The growth in this area shows strong end-product adoption:

• Royalty revenue grew 6% year-over-year in Q3 2025.
• Royalty revenue grew 16% sequentially in Q3 2025.
• Total Ceva-powered device shipments hit a record 579 million units in Q3 2025.

The royalty performance is heavily influenced by specific market segments, with wireless IoT shipments reaching record highs, led by new highs in Wi-Fi 6 and cellular IoT in Q3 2025. However, royalty revenue can be lumpy; for example, it was $9.2 million in Q1 2025, a 14% year-over-year decrease, due to soft smartphone shipments.

Strategic engagement with leading U.S. OEM for 5G modem

This represents a high-value, strategic relationship where CEVA, Inc.'s IP is deeply embedded in a customer's core product roadmap. A key milestone was the successful ramp of an in-house 5G modem by a leading U.S. OEM integrating CEVA IP, which was noted in Q1 2025 results. This relationship stems from long-term licensing agreements signed with four of the company's largest cellular customers.

The strategic focus areas for these high-value engagements in 2025 included:

• Securing two strategic automotive IP agreements with U.S. companies in Q2 2025 for V2X and 4D radar.
• The company supports two of the four large OEMs in wireless infrastructure, holding over 30% market share in that area.
• The company is aiming to increase its mobile market share from 15% to over 20% by next year (2026).

Finance: draft 13-week cash view by Friday.

CEVA, Inc. (CEVA) - Canvas Business Model: Channels

You're looking at how CEVA, Inc. gets its IP and software tools into the hands of the designers building the next wave of Smart Edge devices. The channel strategy here is all about direct engagement and a strong partner network to push licensing and drive royalties.

Direct sales force for IP licensing

The direct sales force is the engine closing the deals that generate the upfront licensing revenue. This channel is directly responsible for securing the agreements that underpin the company's financial stability between royalty cycles. For instance, in the third quarter of 2025, CEVA, Inc. completed twelve IP licensing agreements across AI, DSP, and connectivity sectors. This execution is key, as Licensing and related revenue hit $16.0 million in Q3 2025. The AI pivot is clearly being driven through these direct sales efforts, with AI processor licensing contributing approximately one-third of total licensing revenue in both the second and third quarters of 2025.

Here's a look at the recent licensing revenue performance:

Metric	Q2 2025 Amount	Q3 2025 Amount
Licensing and Related Revenue	$15.0 million	$16.0 million
Consecutive Quarters Licensing Revenue > $15M	5	6

The direct channel's success is also reflected in the capital return program; the company repurchased 340,000 shares for approximately $7.2 million year-to-date in 2025.

Global field application engineering (FAE) teams

The FAE teams act as the technical bridge, helping customers integrate the licensed IP-like the NeuPro NPU or Ceva-Waves Wi-Fi-into their silicon designs. While the exact headcount isn't public, the global footprint suggests a significant support structure is in place to service these complex technical sales. The company maintains a global presence with offices listed across multiple continents, including headquarters in Rockville, USA, and locations in Israel, France, Japan, South Korea, and various sites across China. This physical presence supports the technical validation and troubleshooting required for deep IP integration.

• Support for Ceva-NeuPro-Nano NPU integration.
• Technical bridge for automotive IP wins (V2X, 4D radar).
• On-site support for product demonstration activities.
• Troubleshooting of product HW & SW issues remotely and at customer sites.

Technology ecosystem for software and tools

The technology ecosystem channel is critical for accelerating customer time-to-market by providing pre-optimized software, tools, and third-party solutions that work seamlessly with CEVA, Inc.'s IP. This reduces the perceived risk of adopting new IP blocks. At CES 2025, the expansion of the embedded AI NPU ecosystem was a major theme, adding new collaborations to streamline development.

Key ecosystem activities as of early 2025 include:

• New collaborations with Cyberon and AIZIP offering pre-optimized neural networks for keyword spotting and face recognition on NeuPro-Nano.
• Expanded integration with Edge Impulse Studio supporting NVIDIA's TAO toolkit for NPN32 and NPN64 NPUs.
• Partnerships with Oritek Semiconductor for ADAS chipsets and Bestechnic for Wi-Fi 6 and Bluetooth Dual Mode IP integration.
• The overall partner program incorporates more than 100 partners providing complementary software, tools, and design services.

Investor Relations for financial transparency

Investor Relations is the channel for communicating financial performance and strategic direction to the capital markets, directly influencing valuation and investor confidence. The company provides detailed quarterly updates, such as the Q3 2025 results, which are filed as an exhibit to the current report on Form 8K and accessible on the Investor Relations website at investors.ceva-ip.com. Transparency around both GAAP and non-GAAP metrics is a key part of this channel.

Key financial transparency metrics from Q3 2025:

Financial Metric	Q3 2025 Value
Total Revenue	$28.4 million
Non-GAAP Diluted EPS	$0.11 (Beat consensus of $0.10)
Non-GAAP Net Income	$2.7 million
GAAP Net Loss	$2.5 million
Non-GAAP Gross Margin	89%

The company actively participates in investor events, such as the UBS Global Technology and AI Conference on December 2nd, to maintain direct communication with analysts and portfolio managers. Finance: draft 13-week cash view by Friday.

CEVA, Inc. (CEVA) - Canvas Business Model: Customer Segments

You're looking at the core markets that drive CEVA, Inc.'s revenue through IP licensing and royalties as of the third quarter of 2025. The customer base is diverse, spanning from chip designers to large system manufacturers, all relying on CEVA's technology to enable intelligence and connectivity at the edge.

The total volume of Ceva-powered devices shipped by licensees in the third quarter of 2025 hit 579 million units, which was up 19% sequentially and 11% year-over-year. This volume underpins the royalty stream across all segments.

Here's a breakdown of the key customer segments and their recent performance metrics:

Customer Segment	Key Technology Focus	Q3 2025 Royalty/Volume Indicator	Year-over-Year Royalty Change
Consumer IoT (wearables, smart home)	Bluetooth, Wi-Fi 6, Cellular IoT	Record 500 million units shipped (Consumer IoT portion of total)	Consumer IoT Royalty Growth: 9%
Semiconductor companies (fabless and IDMs)	AI Processors (NeuPro NPU), Connectivity	AI processor licensing contributed one-third of licensing revenue in Q3 2025	N/A (Licensing focus)
Automotive (ADAS, V2X, 4D radar)	AI DSP for ADAS, V2X, 4D Radar IP	Two large semiconductor customers ramping ADAS volume shipments	N/A (Royalty growth mentioned, but no specific percentage)
Infrastructure (5G RAN base stations)	5G SWAN technology	Royalty Revenue up 91% year-over-year	91% increase
Mobile (Smartphones)	5G Modem IP	69 million units shipped (12% of total units)	Mobile Royalties up 4% year-over-year

The AI business is becoming a defintely meaningful part of the overall licensing mix. AI processor licensing represented roughly one-third of the total licensing revenue in both the second and third quarters of 2025.

You'll see the strength in connectivity IP reflected in the shipment numbers:

• Cellular IoT shipments reached an all-time high of 69 million units in Q3 2025, marking a 41% increase year-over-year.
• Wi-Fi 6 shipments set a new record, up 194% year-over-year.
• Bluetooth shipments were 303 million units in the quarter, a slight dip of 1% from 306 million in Q3 2024.

The semiconductor segment is seeing direct engagement with major players; for instance, Microchip Technology licensed the full NeuPro NPU portfolio for their future roadmaps. Also, CEVA, Inc. secured two strategic automotive IP agreements in Q2 2025 specifically for V2X and 4D radar applications.

The infrastructure segment, covering 5G SWAN, showed explosive growth in royalties, which were up 91% year-over-year in Q3 2025. That's a clear indicator of design wins moving into volume production.

For mobile, the recovery in the low-end smartphone segment, coupled with a second model launch from a U.S. OEM featuring CEVA's 5G modem, helped push mobile royalties up 4% year-over-year.

Finance: review the Q4 2025 licensing pipeline against the Q3 AI licensing contribution of one-third of licensing revenue by end of week.

CEVA, Inc. (CEVA) - Canvas Business Model: Cost Structure

You're looking at the core expenses that drive CEVA, Inc.'s operations as of late 2025. Honestly, for an IP licensing company, the cost structure is heavily weighted toward talent and future innovation, which means high fixed costs related to research.

High R&D expenses are a major component, reflecting the continuous need to develop and update silicon and software intellectual property (IP). For the third quarter ended September 30, 2025, Research and Development, net, totaled $19,532 thousand. This figure is substantial, underscoring the commitment to staying ahead in areas like AI processors and wireless connectivity IP. This high spend is the engine for future revenue streams.

The cost of that specialized talent is embedded within the operating expenses. Personnel costs for specialized engineers are the primary driver behind the R&D line item. Furthermore, these specialized teams are also involved in supporting complex customer integrations, which ties into the Sales and Marketing and General and Administrative buckets, though the bulk of their compensation sits in R&D.

Your Sales, General, and Administrative (SG&A) expenses cover the necessary overhead to run the business, from marketing the IP portfolio to managing contracts and corporate functions. For Q3 2025, these costs are detailed below, combining Sales and Marketing with General and Administrative spending.

Here's the quick math on the SG&A components for the third quarter of 2025 (in thousands of USD):

Cost Component	Q3 2025 Amount (in thousands)
Sales and Marketing	$3,012
General and Administrative	$4,383
Total SG&A	$7,395

Another line item that eats into the GAAP results is the Amortization of acquired intangible assets. This non-cash charge relates to past acquisitions, spreading their cost over their useful lives. In Q3 2025, this expense was relatively small at $149 thousand.

When you look at the bottom line before taxes and other adjustments, the operating performance shows the pressure from these fixed costs. CEVA, Inc. reported a GAAP Operating Loss of $2,084 thousand (or approximately $2.1 million) for Q3 2025. This compares to a loss of $2,624 thousand in the same period last year, so there was some improvement, but it still reflects that the current operating expenses outpace the GAAP operating revenue for the period.

To give you a clearer picture of the total operating expense structure for the quarter, consider these key figures (all in thousands of USD):

• Research and Development, net: $19,532
• Total SG&A (Sales & Marketing + G&A): $7,395
• Amortization of intangible assets: $149
• Total Operating Expenses (GAAP): $27,076

The total operating expenses for Q3 2025 were $27,076 thousand. Still, the non-GAAP operating expenses, which strip out items like equity-based compensation and amortization, were lower at $22,000 thousand (using the $22.1 million mentioned in one source, which is close to the sum of the reported GAAP expenses minus the non-GAAP exclusions). This difference highlights how much non-cash or non-recurring items affect the GAAP view of the cost base. Finance: draft 13-week cash view by Friday.

CEVA, Inc. (CEVA) - Canvas Business Model: Revenue Streams

You're looking at the core engine of CEVA, Inc.'s financial structure, which is heavily weighted toward intellectual property (IP) monetization through upfront fees and ongoing usage payments. For the third quarter of 2025, CEVA, Inc. reported total revenue of $28.4 million.

This revenue is cleanly split between two primary sources, which you can see broken down here:

Revenue Component	Q3 2025 Amount	Percentage of Total Revenue
Licensing and Related Revenue	$16.0 million	56%
Royalty Revenue from Unit Shipments	$12.4 million	44%

The Licensing and related revenue, which hit $16.0 million in Q3 2025, is where the upfront value of CEVA, Inc.'s IP is captured. This segment is showing strong momentum, particularly from the AI side of the business. Honestly, this is a key indicator of future health; AI processor licensing contributed approximately one-third of the total licensing revenue in both the second and third quarters of 2025. That's a major milestone for CEVA, Inc.'s AI strategy. These wins are structured as multi-year agreements, which definitely provides good visibility into future revenue streams, even if the immediate cash is in the upfront fee.

The Royalty revenue, which totaled $12.4 million for the quarter, is the direct measure of how many of their licensed technologies are actually shipping in customer products. This stream grew 6% year-over-year. The volume driving this is substantial:

• Ceva-powered device shipments reached 579 million units in Q3 2025.
• Royalty revenue was supported by record wireless IoT shipments, including new highs in Wi-Fi 6 and cellular IoT.
• The Wireless IP portfolio, which includes Bluetooth, Wi-Fi, UWB, and cellular IoT, achieved its strongest royalty revenue quarter on record.
• Licensing revenue for the first three quarters of 2025 reached $46.1 million, up 4% compared to the same period in 2024.

To be fair, the non-GAAP gross margin for the quarter was very strong at 89%, which makes sense given the high-margin nature of IP licensing.