CEVA: Sticking With The Prior Outlook Despite Being Behind Schedule

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CEVA (NASDAQ:CEVA), a licensor of IP for wireless connectivity technologies, smart sensing and other solutions, got somewhat of a scare on May 9 with the release of the latest earnings report, which included, among other things, a top

(Unit: $1000, except EPS)

(GAAP)

Q1 FY2024

Q4 FY2023

Q1 FY2023

QoQ

YoY

Revenue

22,072

24,162

26,262

(8,65%)

(15.95%)

Gross margin

89%

91%

87%

(200bps)

200bps

Operating income (loss)

(4,960)

(2,787)

(2,620)

Net income (loss)

(5,448)

3,769

(4,872)

Net income (loss) from continuing ops

(5,448)

(8,098)

(2,699)

EPS

(0.23)

0.16

(0.21)

EPS (continuing ops)

(0.23)

(0.34)

(0.12)

(Non-GAAP)

Gross margin

90%

92%

88%

(200bps)

200bps

Operating income (loss)

(831)

1,946

1,156

Net income (loss)

(1,259)

2,378

107

EPS

(0.05)

0.10

0.00

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