0001437749-22-011622.txt : 20220510 0001437749-22-011622.hdr.sgml : 20220510 20220510091524 ACCESSION NUMBER: 0001437749-22-011622 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 17 CONFORMED PERIOD OF REPORT: 20220510 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20220510 DATE AS OF CHANGE: 20220510 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CEVA INC CENTRAL INDEX KEY: 0001173489 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-COMPUTER PROGRAMMING, DATA PROCESSING, ETC. [7370] IRS NUMBER: 770556376 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-49842 FILM NUMBER: 22907623 BUSINESS ADDRESS: STREET 1: 15245 SHADY GROVE ROAD STREET 2: SUITE 400 CITY: ROCKVILLE STATE: MD ZIP: 20850 BUSINESS PHONE: 240-308-8328 MAIL ADDRESS: STREET 1: 15245 SHADY GROVE ROAD STREET 2: SUITE 400 CITY: ROCKVILLE STATE: MD ZIP: 20850 FORMER COMPANY: FORMER CONFORMED NAME: CEVA INC DATE OF NAME CHANGE: 20031208 FORMER COMPANY: FORMER CONFORMED NAME: PARTHUSCEVA INC DATE OF NAME CHANGE: 20021101 FORMER COMPANY: FORMER CONFORMED NAME: CEVA INC DATE OF NAME CHANGE: 20020515 8-K 1 ceva20220507_8k.htm FORM 8-K ceva20220507_8k.htm
false 0001173489 0001173489 2022-05-10 2022-05-10
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
 
Date of report (Date of earliest event reported): May 10, 2022
 
CEVA, INC.
(Exact Name of Registrant as Specified in Its Charter)
 
Delaware
(State or Other Jurisdiction of Incorporation)
 
000-49842
(Commission File Number)
77-0556376
(I.R.S. Employer Identification No.)
   
   
15245 Shady Grove Road, Suite 400, Rockville, MD 
(Address of Principal Executive Offices)
20850
(Zip Code)
 
(240)-308-8328
(Registrant’s Telephone Number, Including Area Code)
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
☐     Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
☐     Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
☐     Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
☐     Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock, $.001 per share
CEVA
The NASDAQ Stock Market LLC
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Security Exchange Act of 1934 (§240.12b-2 of this chapter).
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 
 
ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION
 
On May 10, 2022, CEVA, Inc. (the “Company”) announced its financial results for the quarter ended March 31, 2022. A copy of the press release, dated May 10, 2022, is attached and filed herewith as Exhibit 99.1. On the same day, the Company will hold a conference call to discuss its financial results for the first quarter of 2022. A copy of the script of the conference call is attached hereto as Exhibit 99.2. This information, including Exhibits 99.1 and 99.2 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Act of 1934, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, except as shall be expressly set forth by specific reference to such filing.
 
In addition to the disclosure of financial results for the quarter and year ended March 31, 2022 and 2021 in accordance with generally accepted accounting principles in the United States (“GAAP”), the press release and script also included non-GAAP operating income, net income and diluted earnings per share (EPS) figures for the referenced periods.
 
Non-GAAP operating income for (1) the first quarter of 2022 excluded: (a) equity-based compensation expenses, (b) the impact of the amortization of acquired intangibles associated with the acquisition of the Intrinsix and Hillcrest Labs businesses and investments in NB-IoT and Immervision technologies and (c) $ loss net of taxes associated with the reevaluation of an investment in another company; and (2) the first quarter of 2021 excluded: (i) equity-based compensation expenses and (ii) the impact of the amortization of acquired intangibles associated with the acquisition of the Hillcrest Labs business and investments in NB-IoT and Immervision technologies.
 
Non-GAAP net income and diluted earnings per share for (1) the first quarter of 2022 excluded (a) equity-based compensation expenses, (b) the impact of the amortization of acquired intangibles, net of taxes, associated with the acquisition of the Intrinsix and Hillcrest Labs businesses and investments in NB-IoT and Immervision technologies, (c) costs associated with the Intrinsix acquisition and (d) loss, net of taxes, associated with the remeasurement of marketable equity securities; and (2) the first quarter of 2021 excluded (i) equity-based compensation expenses, and (ii) the impact of the amortization of acquired intangibles associated with the acquisition of the Hillcrest Labs business and investments in NB-IoT and Immervision technologies.
 
The Company believes that the reconciliation of financial measures in the press release and script is useful to investors in analyzing the results for the quarters ended March 31, 2022 and 2021 because the exclusion of the applicable expenses may provide a more meaningful analysis of the Company’s core operating results and comparison of quarterly results. Further, the Company believes it is useful for investors to understand how the expenses associated with the application of FASB ASC No. 718 are reflected on its statements of income. The reconciliation of financial measures should be reviewed in addition to and in conjunction with results presented in accordance with GAAP, and are intended to provide additional insight into the Company’s operations that, when viewed with its GAAP results and the accompanying reconciliation, offer a more complete understanding of factors and trends affecting the Company’s business. The reconciliation of financial measures should not be viewed as a substitute for the Company’s reported GAAP results.
 
 
 
 
ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.
 
(d) Exhibits.
 
 
 
104         Cover Page Interactive Data File (embedded within the Inline XBRL document).
 
 
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
CEVA, INC.
Date:         May 10, 2022 
By:
/s/ Yaniv Arieli
Yaniv Arieli
Chief Financial Officer
 
 
 EX-99.1 2 ex_372397.htm EXHIBIT 99.1 ex_372397.htm
 

Exhibit 99.1

 

logo.jpg

 

CEVA, Inc. Announces First Quarter 2022 Financial Results

 

 

●

Record total revenue of $34.4 million, up 35% year-over-year

 

●

Record high licensing, NRE and related revenue contribution of $22.4 million, up 56% year-over-year
 

●

GAAP operating income $0.5 million and Non-GAAP operating income of $5.5 million, compared to GAAP operating loss of $1.3 million and Non-GAAP operating income of $2.7 million for the first quarter of 2021

 

Rockville, MD, May 10, 2022 – CEVA, Inc. (NASDAQ: CEVA), the leading licensor of wireless connectivity and smart sensing technologies and integrated IP solutions, today announced its financial results for the first quarter ended March 31, 2022.

 

Total revenue for the first quarter of 2022 was $34.4 million, a record high and a 35% increase compared to the first quarter of 2021. First quarter 2022 licensing, non-recurring engineering (NRE) and related revenue was $22.4 million, an increase of 56% when compared to $14.4 million reported for the same quarter a year ago. Royalty revenue for the first quarter of 2022 was $12 million, an increase of 9% when compared to $11 million reported for the first quarter of 2021.

 

During the quarter, fourteen IP license and NRE agreements were concluded, targeting a wide variety of smart and connected markets, including smartphones, smart home, PCs, ADAS, and 5G Low Earth Orbit (LEO) satellite communication. Three agreements were with first-time customers. Geographically, five of the deals signed were in China, four in the U.S., three in APAC, and two in Europe.

 

Gideon Wertheizer, CEO of CEVA, stated: “Our strong first quarter results and performance affirms our dominance in the ubiquitous wireless IP space and is the result of our excellence in execution and market reach. Our leading portfolio of wireless and Edge AI technologies provide huge market opportunities to scale our business, as illustrated by our record licensing, NRE and related revenue that grew 56% year-over-year. Our strong fundamentals are also evident through the progress of our royalty business that, despite the China COVID lockdowns which affected many of our customers, reached a new record of 531 million CEVA-powered unit shipments, including share gains in the smartphone space.”

 

1
 

 

GAAP operating income for the first quarter was $0.5 million, as compared to a GAAP operating loss of $1.3 million for the same period in 2021. GAAP net loss for the first quarter of 2022 was $1.7 million, as compared to a GAAP net loss of $3.6 million reported for the same period in 2021. GAAP diluted loss per share for the first quarter of 2022 was $0.07, as compared to a GAAP diluted loss per share of $0.16 for the same period in 2021.

 

Non-GAAP operating income for the first quarter of 2022 more than doubled to $5.5 million from $2.6 million reported for the first quarter of 2021. Non-GAAP net income and diluted earnings per share for the first quarter of 2022 are $4.2 million and $0.18, respectively, compared with $0.3 million and $0.01 reported for the first quarter of 2021.

 

Non-GAAP operating income for the first quarter of 2022 excluded: (a) equity-based compensation expenses of $3.4 million, (b) the impact of the amortization of acquired intangibles of $1.3 million associated with the acquisition of the Intrinsix and Hillcrest Labs businesses and investments in NB-IoT and Immervision technologies and (c) $0.3 million of costs associated with the Intrinsix acquisition. Non-GAAP operating income for the first quarter of 2021 excluded: (a) equity-based compensation expenses of $3.2 million and (b) the impact of the amortization of acquired intangibles of $0.7 million associated with the acquisition of the Hillcrest Labs business and investments in NB-IoT and Immervision technologies.

 

Non-GAAP net income and diluted earnings per share for the first quarter of 2022 excluded: (a) equity-based compensation expenses of $3.4 million, (b) the impact of the amortization of acquired intangibles of $1.3 million associated with the acquisition of the Intrinsix and Hillcrest Labs businesses and investments in NB-IoT and Immervision technologies, (c) $0.3 million of costs associated with the Intrinsix acquisition and (d) $0.9 million loss, net of taxes, associated with the remeasurement of marketable equity securities. Non-GAAP net income and diluted earnings per share for the first quarter of 2021 excluded: (a) equity-based compensation expenses of $3.2 million and (b) the impact of the amortization of acquired intangibles in the amount of $0.7 million associated with the acquisition of the Hillcrest Labs business and investments in NB-IoT and Immervision technologies.

 

Yaniv Arieli, Chief Financial Officer of CEVA, stated: “We are pleased with our strong financial performance in the first quarter, which produced record total revenue of $34.4 million and non-GAAP operating income more than doubled year-over-year to $5.5 million, boosted by operating efficiency initiatives. At the end of the quarter, our cash and cash equivalent balances, marketable securities and bank deposits were approximately $162 million.”

 

CEVA Conference Call

On May 10, 2022, CEVA management will conduct a conference call at 8:30 a.m. Eastern Time to discuss the operating performance for the quarter.

 

The conference call will be available via the following dial in numbers:

 

 

●

U.S. Participants: Dial 1-844-435-0316 (Access Code: CEVA)
 

●

International Participants: Dial +1-412-317-6365 (Access Code: CEVA)

 

The conference call will also be available live via webcast at the following link: https://app.webinar.net/Jz4NXQP1d0o. Please go to the web site at least fifteen minutes prior to the call to register, download and install any necessary audio software.

 

For those who cannot access the live broadcast, a replay will be available by dialing +1-877-344-7529 or +1-412-317-0088 (access code: 8707737) from one hour after the end of the call until 9:00 a.m. (Eastern Time) on May 17, 2022. The replay will also be available at CEVA's web site www.ceva-dsp.com.

 

2
 

 

Forward Looking Statement

This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause the results of CEVA to differ materially from those expressed or implied by such forward-looking statements and assumptions. Forward-looking statements include Mr. Wertheizer’s statements about market opportunities to scale CEVA’s business provided by CEVA’s wireless and Edge AI technologies. The risks, uncertainties and assumptions that could cause differing CEVA results include: the scope and duration of the COVID-19 pandemic; the extent and length of the restrictions associated with the COVID-19 pandemic and the impact on customers, consumer demand and the global economy generally; the ability of the CEVA DSP cores and other technologies to continue to be strong growth drivers for us; our continued success in penetrating new markets and maintaining our market position in existing markets; our ability to diversify the company’s royalty streams, the ability of products incorporating our technologies to achieve market acceptance, the effect of intense industry competition and consolidation, global chip market trends, the possibility that markets for CEVA’s technologies may not develop as expected or that products incorporating our technologies do not achieve market acceptance; our ability to timely and successfully develop and introduce new technologies; and general market conditions and other risks relating to our business, including, but not limited to, those that are described from time to time in our SEC filings. CEVA assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

 

3
 

 

About CEVA, Inc.

CEVA is the leading licensor of wireless connectivity and smart sensing technologies and integrated IP solutions for a smarter, safer, connected world. We provide Digital Signal Processors, AI engines, wireless platforms, cryptography cores and complementary software for sensor fusion, image enhancement, computer vision, voice input and artificial intelligence. These technologies are offered in combination with our Intrinsix IP integration services, helping our customers address their most complex and time-critical integrated circuit design projects. Leveraging our technologies and chip design skills, many of the world’s leading semiconductors, system companies and OEMs create power-efficient, intelligent, secure and connected devices for a range of end markets, including mobile, consumer, automotive, robotics, industrial, aerospace & defense and IoT.

 

Our DSP-based solutions include platforms for 5G baseband processing in mobile, IoT and infrastructure, advanced imaging and computer vision for any camera-enabled device, audio/voice/speech and ultra-low-power always-on/sensing applications for multiple IoT markets. For sensor fusion, our Hillcrest Labs sensor processing technologies provide a broad range of sensor fusion software and inertial measurement unit (“IMU”) solutions for markets including hearables, wearables, AR/VR, PC, robotics, remote controls and IoT. For wireless IoT, our platforms for Bluetooth (low energy and dual mode), Wi-Fi 4/5/6/6E (802.11n/ac/ax), Ultra-wideband (UWB) and NB-IoT are the most broadly licensed connectivity platforms in the industry.

 

CEVA is a sustainable and environmentally conscious company, adhering to our Code of Business Conduct and Ethics. As such, we emphasize and focus on environmental preservation, recycling, the welfare of our employees and privacy – which we promote on a corporate level. At CEVA, we are committed to social responsibility, values of preservation and consciousness towards these purposes.

 

Visit us at www.ceva-dsp.com and follow us on Twitter, YouTube, Facebook, LinkedIn and Instagram.

 

 

For More Information Contact:

Yaniv Arieli

CEVA, Inc.

CFO

+1.650.417.7941

yaniv.arieli@ceva-dsp.com

Richard Kingston

CEVA, Inc.

VP Market Intelligence, Investor & Public Relations

+1.650.417.7976

richard.kingston@ceva-dsp.com

 

4
 

 

CEVA, INC. AND ITS SUBSIDIARIES

CONSOLIDATED STATEMENTS OF LOSS – U.S. GAAP

U.S. dollars in thousands, except per share data

 

   

Three months ended

  
   

March 31,

  
   

2022

    

2021

  
   

Unaudited

    

Unaudited

  

Revenues:

                

Licensing, NRE and related revenues

   $ 22,393     $ 14,397  

Royalties

     11,998       11,005  
                 

Total revenues

     34,391       25,402  
                 

Cost of revenues

     6,404       2,381  
                 

Gross profit

     27,987       23,021  
                 

Operating expenses:

                

Research and development, net

     20,210       17,593  

Sales and marketing

     2,923       3,302  

General and administrative

     3,636       2,880  

Amortization of intangible assets

     750       576  
                 

Total operating expenses

     27,519       24,351  
                 

Operating income (loss)

     468       (1,330 )

Financial income , net

     282       36  

Remeasurement of marketable equity securities

     (1,131 )     —  
                 

Loss before taxes on income

     (381 )     (1,294 )

Income tax expense

     1,315       2,336  
                 

Net loss

   $ (1,696 )   $ (3,630 )
                 

Basic loss per share

   $ (0.07 )   $ (0.16 )

Diluted loss per share

   $ (0.07 )   $ (0.16 )

Weighted-average shares used to compute net loss per share (in thousands):

                

Basic

     23,103       22,546  

Diluted

     23,103       22,546  

 

5
 

 

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures

U.S. Dollars in thousands, except per share amounts

 

 

   

Three months ended

  
   

March 31,

  
   

2022

    

2021

  
   

Unaudited

    

Unaudited

  

GAAP net loss

   $ (1,696 )   $ (3,630 )

Equity-based compensation expense included in cost of revenues

     339       143  

Equity-based compensation expense included in research and development expenses

      1,995        1,685  

Equity-based compensation expense included in sales and marketing expenses

      333        418  
                 

Equity-based compensation expense included in general and administrative expenses

      722        952  
                 

Amortization of intangible assets, net of taxes, related to acquisition of Intrinsix in 2021 and Hillcrest Labs business, investments in NB-IoT and Immervision technologies

      1,282        686  

Costs associated with the Intrinsix acquisition

     326       —  

Loss associated with the remeasurement of marketable equity securities, net of taxes.

     871       —  

NRE revenues associated with the purchase price allocation (PPA) related to Intrinsix acquisition

     42       —  

Non-GAAP net income

   $ 4,214     $ 254  
                 

GAAP weighted-average number of Common Stock used in computation of diluted net loss and loss per share (in thousands)

     23,103       22,546  
                 

Weighted-average number of shares related to outstanding stock-based awards (in thousands)

     772       819  
                 

Weighted-average number of Common Stock used in computation of diluted earnings per share, excluding the above (in thousands)

     23,875       23,365  
                 

GAAP diluted loss per share

   $ (0.07 )   $ (0.16 )

Equity-based compensation expense

   $ 0.14     $ 0.14  

Amortization of intangible assets, net of taxes, related to acquisition of Intrinsix in 2021 and Hillcrest Labs business, investments in NB-IoT and Immervision technologies

   $ 0.06     $ 0.03  

Costs associated with the Intrinsix acquisition

   $ 0.01       —  

Loss associated with the remeasurement of marketable equity securities, net of taxes.

   $ 0.04       —  

Non-GAAP diluted earnings per share

   $ 0.18     $ 0.01  

 

6
 

 

   

Three months ended

  
   

March 31,

  
   

2022

    

2021

  
   

Unaudited

    

Unaudited

  

GAAP Operating Income (loss)

   $ 468     $ (1,330 )

Equity-based compensation expense included in cost of revenues

     339       143  

Equity-based compensation expense included in research and development expenses

     1,995       1,685  

Equity-based compensation expense included in sales and marketing expenses

     333       418  

Equity-based compensation expense included in general and administrative expenses

     722       952  

Amortization of intangible assets related to acquisition of Intrinsix in 2021 and Hillcrest Labs business, investments in NB-IoT and Immervision technologies

     1,282       761  

Costs associated with the Intrinsix acquisition

     326       —  

Purchase price allocation (PPA) for the Intrinsix acquisition

     42       —  

Total non-GAAP Operating Income

  $ 5,507     $ 2,629  

 

7
 

 

CEVA, INC. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

 

(U.S. Dollars in thousands)

 

   

March 31,

    

December 31,

  
   

2022

    

2021 (*)

  
   

Unaudited

    

Unaudited

 

ASSETS

                

Current assets:

                

Cash and cash equivalents

   $ 39,778     $ 33,153  

Marketable securities and short-term bank deposits

     122,597       121,708  

Trade receivables, net

     12,063       14,644  

Unbilled receivables

     11,445       12,805  

Prepaid expenses and other current assets

     11,421       6,670  

Total current assets

     197,304       188,980  

Long-term assets:

                

Severance pay fund

     10,011       10,175  

Deferred tax assets, net

     17,502       15,850  

Property and equipment, net

     7,842       6,765  

Operating lease right-of-use assets

     8,402       8,827  

Investment in marketable equity securities

     1,788       2,919  

Goodwill

     74,777       74,777  

Intangible assets, net

     13,440       14,607  

Other long-term assets

     3,974       5,759  

Total assets

   $ 335,040     $ 328,659  
                 

LIABILITIES AND STOCKHOLDERS’ EQUITY

                

Current liabilities:

                

Trade payables

   $ 3,176     $ 1,464  

Deferred revenues

     8,731       8,661  

Accrued expenses and other payables

     25,731       22,041  

Operating lease liabilities

     3,149       3,274  

Total current liabilities

     40,787       35,440  
                 

Long-term liabilities:

                

Accrued severance pay

     10,666       10,551  

Operating lease liabilities

     4,707       5,130  

Other accrued liabilities

     801       806  

Total liabilities

     56,961       51,927  
                 

Stockholders’ equity:

                

Common stock

     23       23  

Additional paid in-capital

     235,563       235,386  

Treasury stock

     (8,828 )     (13,790 )

Accumulated other comprehensive loss

     (2,438 )     (372 )

Retained earnings

     53,759       55,485  

Total stockholders’ equity

     278,079       276,732  

Total liabilities and stockholders’ equity

   $ 335,040     $ 328,659  

 

(*) Derived from audited financial statements

 

8
 EX-99.2 3 ex_372398.htm EXHIBIT 99.2 ex_372398.htm
 

Exhibit 99.2

 

CEVA, Inc. Q1 2022 Financial Results Conference Call - Prepared Remarks:: May 10, 2022
logosml.jpg

 

CEVA, INC.

First Quarter 2022 Financial Results Conference Call

Prepared Remarks of Gideon Wertheizer, Chief Executive Officer and
Yaniv Arieli, Chief Financial Officer

May 10, 2022

8:30 A.M. Eastern

 

Good morning everyone and welcome to CEVA’s first quarter 2022 earnings conference call. I’m joined today by Gideon Wertheizer, Chief Executive Officer, and Yaniv Arieli, Chief Financial Officer of CEVA. Gideon will cover the business aspects and highlights from the first quarter and provide general qualitative data. Yaniv will then cover the financial results for the first quarter and also provide guidance for the second quarter and full year 2022.

 

I will start with the forward-looking statements.          

 

Forward Looking Statements

 

Please note that today’s discussion contains forward-looking statements that involve risks and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause the results of CEVA to differ materially from those expressed or implied by such forward-looking statements and assumptions. Forward-looking statements include statements regarding our market position and strategy, including efforts with respect to 5G and Edge AI innovation; demand for and benefits of our technologies; expectations regarding market dynamics; and expectations and financial guidance regarding future performance, including for the full year and second quarter of 2022. For information on the factors that could cause a difference in our results, please refer to our filings with the Securities and Exchange Commission. These include: the scope and duration of the pandemic, including continued restrictions in China; the extent and length of the restrictions associated with the pandemic and the impact on customers, consumer demand and the global economy generally; the ability of CEVA’s IPs for smarter, connected devices to continue to be strong growth drivers for us; our success in penetrating new markets and maintaining our market position in existing markets; the ability of new products incorporating our technologies to achieve market acceptance; the speed and extent of the expansion of the 5G and IoT markets; our ability to execute more base station & IoT license agreements; the effect of intense industry competition and consolidation; global chip market trends, including supply chain issues as a result of COVID-19 and other factors; and our ability to successfully integrate Intrinsix into our business. CEVA assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

 

1
 
CEVA, Inc. Q1 2022 Financial Results Conference Call - Prepared Remarks:: May 10, 2022
logosml.jpg

 

With that said, I will now hand the call over to Gideon.

 

Gideon

 

Thank you, Richard. Good morning, everyone and thank you for joining us today. We delivered a strong start for 2022 with record high revenue of $34.4 million, up 35% on a year-over-year basis, driven by better-than-expected smartphone shipments and strong licensing execution.

 

The licensing and NRE environment continue to be strong, delivering $22.4 million in quarterly revenue, up 56% year-over-year with 14 new agreements, of which 3 were with first-time customers. We continue to bolster our relationships with key customers, signing comprehensive agreements for a new generation of our CEVA-XC DSP technology with a top tier base station OEM and with a lead customer for our new NeuPro-M Edge AI platform targeting the brisk automotive market in China. We continue to experience strong demand for our wireless and EdgeAI technologies by customers targeting a broad range of markets and applications, among which are smartphones, smart home, PC, ADAS 5G IoT and Low Earth Orbit (LEO) Satellite communication.

 

Royalty revenue came in at $12 million, up 9% year over year, with a record 531 million CEVA-powered shipments, up 56% versus last year. In the smartphone space, we experienced better than expected shipments as a key customer of ours is gaining share with top tier OEMs. Royalties from the base station and IoT product category were impacted by our customers’ ability to ship products to OEMs/ODMs in China resulting from the lock down there and due to supply chain constraints that our 5G base station RAN customers are facing. Despite these headwinds, the base station and IoT category was up 24% in revenue versus the respective quarter last year.

 

Let me take the next few minutes to add more perspective on our market position and strategy.

 

Wireless connectivity is vital to drive IoT proliferation. It is a fast-growing market that is forecasted to reach to 15 billion units annually by 2026. In the last few years, CEVA has emerged as the prime wireless IP vendor with the position and market dominance as Arm Ltd. is for CPU IP. Our indisputable ability to offer comprehensive wireless solutions for the most advanced and complex wireless protocols for 5G, Wi-Fi, Bluetooth and UWB lowers the entry barriers for a growing number of OEMs and semiconductor companies to incorporate wireless technologies for the sizable markets of smartphones, smart home, wearables and hearables, automotive, metaverse, industrial, and more.

 

2
 
CEVA, Inc. Q1 2022 Financial Results Conference Call - Prepared Remarks:: May 10, 2022
logosml.jpg

 

Underpinned by this powerful foundation we have built, we are intensifying our 5G innovation and looking to realize the full potential of 5G New Radio in enabling new industries and attributes such as broadband satellite communications, Sidelink to support pedestrian safety through direct cellular connection of smartphone and wearables to vehicles, Redcap to enable energy constraints, medical wearables and industrial IoT and more. At the recent Mobile World Congress event, we announced the PentaG2, our second-generation 5G baseband processor platform IP. PentaG2 is a comprehensive 5G architecture that integrates multiple CEVA DSPs, highly efficient hardware and AI co-processors along with the associated software. PentaG2 streamlines the complexity of developing and integrating 5G modems into the new class of 5G cellular IoT devices across its two main segments: broadband IoT and massive IoT.

 

An additional 5G space where we are looking to catalyze demand is 5G Radio Access Network or RAN. The latest generations of 5G base station architectures are virtualized with disaggregation of the RAN workloads between the Distributed Unit or DU and Radio Unit or RU. Both are highly demanding and accustomed to DSP processing and effectively more than double CEVA’s addressable market vs. the traditional LTE base station architectures. As I noted earlier, we have concluded in the first quarter a sizable and strategic agreement with a top tier OEM for a new class of DSP architecture that we will announce in the coming months. This new DSP architecture will set the stage for the proliferation of virtualized RAN and Open RAN and will be our underlying technology for our next generation cellular solutions.

 

We also made noteworthy progress this past quarter in the Edge AI space. In our prior earnings call, we outlined our AI strategy, which focuses on AI at the edge, a fast-growing market, forecasted by ABI Research to surpass 1.3 billion units by 2026. To capitalize on this sizable opportunity, we unveiled a new Edge AI processor architecture, the NeuPro-M, with scalable performance starting from 20 Tera Operation Per Second or TOPS and going up to 1,200 TOPS. NeuPro-M addresses the AI requirements of broad markets and applications, among which are smartphones, autonomous cars, mixed reality, 5G and more. As noted earlier, we signed a lead customer license agreement with a semiconductor company that targets the ADAS and intelligent cockpits market in China. It is our first entry to the vibrant automotive market in China that leads the transformation of cars in the form of software-defined architectures and electrifications.

 

3
 
CEVA, Inc. Q1 2022 Financial Results Conference Call - Prepared Remarks:: May 10, 2022
logosml.jpg

 

In summary, CEVA continued to execute well in the first quarter with strong performance and financials even in the face of challenging macro events. We have the vision, the market reach, and the execution capabilities to monetize our technology innovation. While the lockdown in China has impacted our customers there, the end market demand for our products continues to show strength, which positions us to continue to outperform through 2022.

 

With that said, let me handover the call to Yaniv for the financials.

 

Yaniv

 

Thank you Gideon. I’ll start by further reviewing the results of our operations for the first quarter of 2022.

 

Revenue for the first quarter was a record high $34.4 million, up 35% compared to $25.4 million for the same quarter last year. The revenue breakdown is as follows:

 

 

-

Licensing, NRE and related revenue was a record high $22.4 million, reflecting 65% of total revenues, up 56% as compared to $14.4 million in first quarter of 2021.

 

 

-

Royalty revenue was $12 million, reflecting 35% of total revenues, up 9% from $11 million in first quarter of 2021.

 

 

-

Base station & IoT royalty revenue contributed $7.1 million in the quarter, up 24% year-over-year, despite a headwind from supply chain constraints in the 5G base station RAN space and the impact of the lockdown in China on some of our Chinese customers.

 

 

-

Quarterly gross margin was 81% on a GAAP basis and 84% on a non-GAAP basis. Both better than expected. Non-GAAP quarterly gross margin excluded approximately $0.3 million of equity-based compensation expenses and $0.5 million of amortization of other assets associated with the Intrinsix acquisition and Immervision investment.

 

4
 
CEVA, Inc. Q1 2022 Financial Results Conference Call - Prepared Remarks:: May 10, 2022
logosml.jpg

 

 

-

Total operating expenses for the first quarter were $27.5 million, at the higher-end of our guidance, due to lower allocation of Intrinsix’s NRE costs from R&D into cost of revenue per our prior quarter’s guidance. Such shifts between these two expense line items may occur from time to time and are tied to the actual chip design work performed in the quarter. OPEX also included (a) aggregate equity-based compensation expense of approximately $3.1 million, (b) amortization of acquired intangible assets associated with the Hillcrest Labs business and investments in NB-IoT of $1.1 million and (c) $0.3 million of costs associated with the Intrinsix acquisition. Total operating expenses for the first quarter, excluding equity-based compensation expenses, amortization of intangible assets and Intrinsix deal related costs were $23.4 million, over the high-end of our guidance, due to the same reasons I just stated for GAAP.

 

 

-

On the tax front, there were few developments in the quarter. We have implemented new tax regulations in France named the “IP box tax regime”, enabling our corporate tax rate to be lower than the statutory 25% on specific types of revenues. This was off-set, with higher withholding tax expenses associated with their future utilization in our Israeli subsidiary.

 

 

-

GAAP other income included a $1.1 million loss, from the reevaluation of our investment in Cipia, formerly Eyesight Technologies, a leading provider of in-cabin sensing solutions for the automotive industry, that went public on the Tel-Aviv Stock Exchange in the fourth quarter of 2021. As we explained last quarter, we will continue to adjust our investment quarterly up and down, based on the market valuation of the shares.

 

 

-

GAAP net loss for the quarter was $1.7 million, and diluted loss per share was 7 cents, compared to net loss of $3.6 million and diluted loss per share of 16 cents for the first quarter of 2021.

 

 

-

Non-GAAP operating income more than doubled to $5.5 million from $2.6 million reported for the first quarter of 2021.

 

 

-

Non-GAAP net income and diluted EPS for the first quarter of 2022 was $4.2 million and 18 cents, respectively. Net income and diluted EPS for the first quarter of 2021 were $0.3 million and 1 cent, respectively. (a) equity-based compensation expenses of $3.4 million, (b) the impact of the amortization of acquired intangibles of $1.3 million associated with the acquisition of the Intrinsix and Hillcrest Labs businesses and investments in NB-IoT and Immervision technologies and (c) $0.3 million of costs associated with the Intrinsix acquisition. Non-GAAP operating income for the first quarter of 2021 excluded: (a) equity-based compensation expenses of $3.2 million and (b) the impact of the amortization of acquired intangibles of $0.7 million associated with the acquisition of the Hillcrest Labs business and investments in NB-IoT and Immervision technologies.

 

5
 
CEVA, Inc. Q1 2022 Financial Results Conference Call - Prepared Remarks:: May 10, 2022
logosml.jpg

 

Other related data

 

-

Shipped units by CEVA licensees during the first quarter of 2022 were a record 531 million units, up 21% sequentially and up 56% from the first quarter 2021 reported shipments.

-

Of the 531 million units shipped, 100 million units, or 19%, were for handset baseband chips, reflecting a sequential increase of 20% from 83 million units of handset baseband chips shipped during the fourth quarter of 2021 and a 22% decrease from 129 million units shipped year over year. Our base station and IoT product shipments were 431 million in the quarter, up 21% sequentially and up 104% year-over-year.

-

Of note, Bluetooth was a record 333 million units in the quarter, an all-time record high, with sensor fusion, Wi-Fi and cellular IoT also delivering strong contributions.

 

As for the balance sheet items

-

As of March 31, 2022, CEVA’s cash and cash equivalent balances, marketable securities and bank deposits were $162 million.

-

Our DSO for the first quarter of 2022 continue to be at lower than normal levels, 32 days for the quarter compared to 39 days in the prior one.

-

During the first quarter, we generated $9.8 million of cash from operations; depreciation and amortizations were $1.9 million and purchase of fixed assets was $0.9 million.

-

At the end of the first quarter, our headcount was 476 employees, of which 391 are engineers, slightly lower than a total of 475 Employees at the end of December 2021.

 

On our yearly guidance

As Gideon explained, the fundamentals of our business are strong, which is implied by record revenue in the first quarter. We continue to dominate the wireless IP space, stepping up our relationships with top tier customers and are encouraged by the share gains by our key handset customer at Tier one smartphone OEMs. We therefore are raising our annual revenue guidance to a range of $142 million to $146 million, versus $122.9 million in 2021. This guidance contemplates consistent recovery in China as the restrictions there are gradually lifted.

 

6
 
CEVA, Inc. Q1 2022 Financial Results Conference Call - Prepared Remarks:: May 10, 2022
logosml.jpg

 

Specifically for the second quarter of 2022

-

Gross margin is expected to be approximately 78% on a GAAP and 82% on a non-GAAP basis, excluding an aggregate of $0.3 million of equity-based compensation expenses and $0.5 million of amortization of other assets associated with the Intrinsix acquisition, NB IoT and Immervision businesses and assets.

-

OPEX for the second quarter of 2022 is forecasted to be similar to the first quarter of 2022. GAAP-based OPEX is expected to be in the range of $27.1 million to $28.1 million. Of our anticipated total operating expenses for the second quarter, (a) $3.3 million is expected to be attributable to equity-based compensation expenses, (b) $0.8 million to the amortization of acquired intangible assets associated with the Hillcrest Labs assets and (c) $0.3 million of costs associated with the Intrinsix acquisition. Non-GAAP OPEX is expected to be in the range of $23 million – $24 million.

-

Net interest income is expected to be approximately $0.4 million.

-

Taxes for the second quarter of 2022 are expected to be similar to the first quarter. Taxes generated from the new 10% significant lower tax rate (on specific revenue sources) for our French activities, off-set by tax expenses associated with withholding and their future utilization in our Israeli subsidiary.

-

Share count for the second quarter of 2022 is expected to be 24 million shares for non-GAAP EPS calculations.

 

Operator: You can now open the Q&A session

 

Wrap Up: Richard

 

Thank you for joining us today and for your continued interest in CEVA. As a reminder, the prepared remarks for this conference call are filed as an exhibit to the Current Report on Form 8-K and accessible through the investor section of our website at https://investors.ceva-dsp.com.

 

With regards to upcoming events, we will be participating in the following conferences:

-

Oppenheimer 23rd Annual Israeli Conference, May 22nd to May 24th in Tel Aviv.

-

Cowen’s 50th annual TMT Conference, June 1st and 2nd in New York

-

Rosenblatt Securities’ Technology Summit - Age of AI Conference, June 9th and 10th

Further information on these events and all events we will be participating in can be found on the investors section of our website.

 

Thank you and goodbye

 

7
 EX-101.SCH 4 ceva-20220510.xsd XBRL TAXONOMY EXTENSION SCHEMA 000 - Document - Document And Entity Information link:calculationLink link:definitionLink link:presentationLink EX-101.DEF 5 ceva-20220510_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 6 ceva-20220510_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Entity [Domain] Legal Entity [Axis] Document Information [Line Items] Document Information [Table] Document, Type Document, Period End Date Entity, Registrant Name Entity, Incorporation, State or Country Code Entity, File Number Entity, Tax Identification Number Entity, Address, Address Line One Entity, Address, Address Line Two Entity, Address, City or Town Entity, Address, State or Province Entity, Address, Postal Zip Code City Area Code Local Phone Number Written Communications Soliciting Material Pre-commencement Tender Offer Pre-commencement Issuer Tender Offer Title of 12(b) Security Trading Symbol Security Exchange Name Entity, Emerging Growth Company Amendment Flag Entity, Central Index Key EX-101.PRE 7 ceva-20220510_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE GRAPHIC 8 logo.jpg begin 644 logo.jpg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end GRAPHIC 9 logosml.jpg begin 644 logosml.jpg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end XML 10 R1.htm IDEA: XBRL DOCUMENT v3.22.1
Document And Entity Information
May 10, 2022
Document Information [Line Items]  
Entity, Registrant Name CEVA, INC.
Document, Type 8-K
Document, Period End Date May 10, 2022
Entity, Incorporation, State or Country Code DE
Entity, File Number 000-49842
Entity, Tax Identification Number 77-0556376
Entity, Address, Address Line One 15245 Shady Grove Road
Entity, Address, Address Line Two Suite 400
Entity, Address, City or Town Rockville
Entity, Address, State or Province MD
Entity, Address, Postal Zip Code 20850
City Area Code 240
Local Phone Number 308-8328
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Common Stock, $.001 per share
Trading Symbol CEVA
Security Exchange Name NASDAQ
Entity, Emerging Growth Company false
Amendment Flag false
Entity, Central Index Key 0001173489
XML 11 ceva20220507_8k_htm.xml IDEA: XBRL DOCUMENT 0001173489 2022-05-10 2022-05-10 false 0001173489 8-K 2022-05-10 CEVA, INC. DE 000-49842 77-0556376 15245 Shady Grove Road Suite 400 Rockville MD 20850 240 308-8328 false false false false Common Stock, $.001 per share CEVA NASDAQ false EXCEL 12 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 13 Show.js IDEA: XBRL DOCUMENT // Edgar(tm) Renderer was created by staff of the U.S. Securities and Exchange Commission. Data and content created by government employees within the scope of their employment are not subject to domestic copyright protection. 17 U.S.C. 105. var Show={};Show.LastAR=null,Show.showAR=function(a,r,w){if(Show.LastAR)Show.hideAR();var e=a;while(e&&e.nodeName!='TABLE')e=e.nextSibling;if(!e||e.nodeName!='TABLE'){var ref=((window)?w.document:document).getElementById(r);if(ref){e=ref.cloneNode(!0); e.removeAttribute('id');a.parentNode.appendChild(e)}} if(e)e.style.display='block';Show.LastAR=e};Show.hideAR=function(){Show.LastAR.style.display='none'};Show.toggleNext=function(a){var e=a;while(e.nodeName!='DIV')e=e.nextSibling;if(!e.style){}else if(!e.style.display){}else{var d,p_;if(e.style.display=='none'){d='block';p='-'}else{d='none';p='+'} e.style.display=d;if(a.textContent){a.textContent=p+a.textContent.substring(1)}else{a.innerText=p+a.innerText.substring(1)}}} XML 14 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 15 FilingSummary.xml IDEA: XBRL DOCUMENT 3.22.1 html 1 23 1 false 0 0 false 0 false false R1.htm 000 - Document - Document And Entity Information Sheet http://www.ceva.com/20220510/role/statement-document-and-entity-information Document And Entity Information Cover 1 false false All Reports Book All Reports ceva20220507_8k.htm ceva-20220510.xsd ceva-20220510_def.xml ceva-20220510_lab.xml ceva-20220510_pre.xml ex_372397.htm ex_372398.htm http://xbrl.sec.gov/dei/2021q4 true false JSON 17 MetaLinks.json IDEA: XBRL DOCUMENT { "instance": { "ceva20220507_8k.htm": { "axisCustom": 0, "axisStandard": 0, "contextCount": 1, "dts": { "definitionLink": { "local": [ "ceva-20220510_def.xml" ] }, "inline": { "local": [ "ceva20220507_8k.htm" ] }, "labelLink": { "local": [ "ceva-20220510_lab.xml" ] }, "presentationLink": { "local": [ "ceva-20220510_pre.xml" ] }, "schema": { "local": [ "ceva-20220510.xsd" ], "remote": [ "http://www.xbrl.org/2003/xbrl-instance-2003-12-31.xsd", "http://www.xbrl.org/2003/xbrl-linkbase-2003-12-31.xsd", "http://www.xbrl.org/2003/xl-2003-12-31.xsd", "http://www.xbrl.org/2003/xlink-2003-12-31.xsd", "http://www.xbrl.org/2005/xbrldt-2005.xsd", "http://www.xbrl.org/dtr/type/nonNumeric-2009-12-16.xsd", "http://www.xbrl.org/dtr/type/numeric-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/negated-2009-12-16.xsd", "http://www.xbrl.org/lrr/role/net-2009-12-16.xsd", "https://www.xbrl.org/dtr/type/2020-01-21/types.xsd", "https://xbrl.sec.gov/country/2021/country-2021.xsd", "https://xbrl.sec.gov/currency/2021/currency-2021.xsd", "https://xbrl.sec.gov/dei/2021q4/dei-2021q4.xsd", "https://xbrl.sec.gov/exch/2021/exch-2021.xsd", "https://xbrl.sec.gov/sic/2021/sic-2021.xsd", "https://xbrl.sec.gov/stpr/2021/stpr-2021.xsd" ] } }, "elementCount": 27, "entityCount": 1, "hidden": { "http://xbrl.sec.gov/dei/2021q4": 2, "total": 2 }, "keyCustom": 0, "keyStandard": 23, "memberCustom": 0, "memberStandard": 0, "nsprefix": "ceva", "nsuri": "http://www.ceva.com/20220510", "report": { "R1": { "firstAnchor": { "ancestors": [ "div", "body", "html" ], "baseRef": "ceva20220507_8k.htm", "contextRef": "d20228K", "decimals": null, "first": true, "lang": "en-US", "name": "dei:EntityRegistrantName", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" }, "groupType": "document", "isDefault": "true", "longName": "000 - Document - Document And Entity Information", "role": "http://www.ceva.com/20220510/role/statement-document-and-entity-information", "shortName": "Document And Entity Information", "subGroupType": "", "uniqueAnchor": { "ancestors": [ "div", "body", "html" ], "baseRef": "ceva20220507_8k.htm", "contextRef": "d20228K", "decimals": null, "first": true, "lang": "en-US", "name": "dei:EntityRegistrantName", "reportCount": 1, "unique": true, "unitRef": null, "xsiNil": "false" } } }, "segmentCount": 0, "tag": { "dei_AmendmentFlag": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.", "label": "Amendment Flag" } } }, "localname": "AmendmentFlag", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "booleanItemType" }, "dei_CityAreaCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Area code of city", "label": "City Area Code" } } }, "localname": "CityAreaCode", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "normalizedStringItemType" }, "dei_DocumentInformationLineItems": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.", "label": "Document Information [Line Items]" } } }, "localname": "DocumentInformationLineItems", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "stringItemType" }, "dei_DocumentInformationTable": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Container to support the formal attachment of each official or unofficial, public or private document as part of a submission package.", "label": "Document Information [Table]" } } }, "localname": "DocumentInformationTable", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "xbrltype": "stringItemType" }, "dei_DocumentPeriodEndDate": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.", "label": "Document, Period End Date" } } }, "localname": "DocumentPeriodEndDate", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "dateItemType" }, "dei_DocumentType": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.", "label": "Document, Type" } } }, "localname": "DocumentType", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "submissionTypeItemType" }, "dei_EntityAddressAddressLine1": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 1 such as Attn, Building Name, Street Name", "label": "Entity, Address, Address Line One" } } }, "localname": "EntityAddressAddressLine1", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressAddressLine2": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Address Line 2 such as Street or Suite number", "label": "Entity, Address, Address Line Two" } } }, "localname": "EntityAddressAddressLine2", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressCityOrTown": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the City or Town", "label": "Entity, Address, City or Town" } } }, "localname": "EntityAddressCityOrTown", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressPostalZipCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Code for the postal or zip code", "label": "Entity, Address, Postal Zip Code" } } }, "localname": "EntityAddressPostalZipCode", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityAddressStateOrProvince": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Name of the state or province.", "label": "Entity, Address, State or Province" } } }, "localname": "EntityAddressStateOrProvince", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "stateOrProvinceItemType" }, "dei_EntityCentralIndexKey": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.", "label": "Entity, Central Index Key" } } }, "localname": "EntityCentralIndexKey", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "centralIndexKeyItemType" }, "dei_EntityDomain": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "All the names of the entities being reported upon in a document. Any legal structure used to conduct activities or to hold assets. Some examples of such structures are corporations, partnerships, limited liability companies, grantor trusts, and other trusts. This item does not include business and geographical segments which are included in the geographical or business segments domains.", "label": "Entity [Domain]" } } }, "localname": "EntityDomain", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "domainItemType" }, "dei_EntityEmergingGrowthCompany": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "Indicate if registrant meets the emerging growth company criteria.", "label": "Entity, Emerging Growth Company" } } }, "localname": "EntityEmergingGrowthCompany", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "booleanItemType" }, "dei_EntityFileNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.", "label": "Entity, File Number" } } }, "localname": "EntityFileNumber", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "fileNumberItemType" }, "dei_EntityIncorporationStateCountryCode": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Two-character EDGAR code representing the state or country of incorporation.", "label": "Entity, Incorporation, State or Country Code" } } }, "localname": "EntityIncorporationStateCountryCode", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "edgarStateCountryItemType" }, "dei_EntityRegistrantName": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.", "label": "Entity, Registrant Name" } } }, "localname": "EntityRegistrantName", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "normalizedStringItemType" }, "dei_EntityTaxIdentificationNumber": { "auth_ref": [ "r1" ], "lang": { "en-us": { "role": { "documentation": "The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.", "label": "Entity, Tax Identification Number" } } }, "localname": "EntityTaxIdentificationNumber", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "employerIdItemType" }, "dei_LegalEntityAxis": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "The set of legal entities associated with a report.", "label": "Legal Entity [Axis]" } } }, "localname": "LegalEntityAxis", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "stringItemType" }, "dei_LocalPhoneNumber": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Local phone number for entity.", "label": "Local Phone Number" } } }, "localname": "LocalPhoneNumber", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "normalizedStringItemType" }, "dei_PreCommencementIssuerTenderOffer": { "auth_ref": [ "r3" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.", "label": "Pre-commencement Issuer Tender Offer" } } }, "localname": "PreCommencementIssuerTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "booleanItemType" }, "dei_PreCommencementTenderOffer": { "auth_ref": [ "r4" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.", "label": "Pre-commencement Tender Offer" } } }, "localname": "PreCommencementTenderOffer", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "booleanItemType" }, "dei_Security12bTitle": { "auth_ref": [ "r0" ], "lang": { "en-us": { "role": { "documentation": "Title of a 12(b) registered security.", "label": "Title of 12(b) Security" } } }, "localname": "Security12bTitle", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "securityTitleItemType" }, "dei_SecurityExchangeName": { "auth_ref": [ "r2" ], "lang": { "en-us": { "role": { "documentation": "Name of the Exchange on which a security is registered.", "label": "Security Exchange Name" } } }, "localname": "SecurityExchangeName", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "edgarExchangeCodeItemType" }, "dei_SolicitingMaterial": { "auth_ref": [ "r5" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.", "label": "Soliciting Material" } } }, "localname": "SolicitingMaterial", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "booleanItemType" }, "dei_TradingSymbol": { "auth_ref": [], "lang": { "en-us": { "role": { "documentation": "Trading symbol of an instrument as listed on an exchange.", "label": "Trading Symbol" } } }, "localname": "TradingSymbol", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "tradingSymbolItemType" }, "dei_WrittenCommunications": { "auth_ref": [ "r6" ], "lang": { "en-us": { "role": { "documentation": "Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.", "label": "Written Communications" } } }, "localname": "WrittenCommunications", "nsuri": "http://xbrl.sec.gov/dei/2021q4", "presentation": [ "http://www.ceva.com/20220510/role/statement-document-and-entity-information" ], "xbrltype": "booleanItemType" } }, "unitCount": 0 } }, "std_ref": { "r0": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b" }, "r1": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "b-2" }, "r2": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "12", "Subsection": "d1-1" }, "r3": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "13e", "Subsection": "4c" }, "r4": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14d", "Subsection": "2b" }, "r5": { "Name": "Exchange Act", "Number": "240", "Publisher": "SEC", "Section": "14a", "Subsection": "12" }, "r6": { "Name": "Securities Act", "Number": "230", "Publisher": "SEC", "Section": "425" } }, "version": "2.1" } ZIP 18 0001437749-22-011622-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001437749-22-011622-xbrl.zip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