CEVA, Inc. (NASDAQ:CEVA) shares were trading higher Monday, but have since reversed and began trading lower after the company reported first-quarter financial results.
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CEVA Q1 Highlights
CEVA reported adjusted earnings per share of 4 cents, beating the consensus estimate of 2 cents. In addition, the company posted revenue of $27.02 million, beating the consensus estimate of $26.12 million and representing a 11% year-over-year increase.
The company said licensing and related revenues totaled $17.8 million in the quarter, up 18% year-over-year and marking the highest level in three years.
Royalty revenues came in at $9.2 million, with smart edge royalties increasing 8% year-over-year, driven by record Wi-Fi shipments and contributions from cellular IoT, 5G infrastructure and automotive AI. CEVA said AI represented more than 20% of licensing and related revenues during the quarter.
"We delivered a strong start to 2026, highlighted by our highest licensing and related revenues in three years and continued momentum across our connectivity and AI portfolios," said CEO Amir Panush.
CEVA Shares Edge Lower
CEVA Price Action: CEVA shares are down 4.14% at $35.44 at the time of publication on Monday, according to Benzinga Pro. Over the past month, CEVA has gained about 90.7% versus a 8.9% rise in the S&P 500 and is up roughly 76% year-to-date compared to the index’s 7.6% gain, which may help explain some of the pullback on Monday.
This illustration was generated using artificial intelligence via Midjourney.
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