CEVA Reports Record Q4 Revenue, Secures Three NPU Deals
CEVA posted record Q4 revenue of $31.1M, up 7% year-over-year, with gross margin of 89% and non-GAAP operating margin of 18%. It signed 18 licensing agreements, including three NPU deals with a PC OEM, and guided 2026 revenue growth of 8%–12% with Q1 revenue of $24M–$28M.
1. Q4 Financial Highlights
CEVA delivered a record $31.1 million in Q4 revenue, up 7% year-over-year and 10% sequentially. The company reported a GAAP operating loss of $0.4 million and non-GAAP operating income of $5.7 million, while non-GAAP net income reached $4.9 million on a 18% non-GAAP operating margin.
2. NPU and Licensing Momentum
Management signed 18 licensing deals in Q4, including three for next-generation NPUs with a major PC OEM integrating CEVA’s IP into its SoC platform. In 2025 CEVA inked 10 NPU agreements and expects six of those customers to enter production by late 2026, driving future royalty streams.
3. Connectivity and Sensing Wins
The quarter included multiple Wi-Fi 7 and Bluetooth HDT agreements, as well as a Wi-Fi 6/Bluetooth combo deal with a white goods semiconductor division. CEVA also secured a software license for its motion engine to be embedded in a leading smart TV platform, boosting non-mobile royalty growth.
4. 2026 Outlook and Balance Sheet
CEVA forecasts 8%–12% revenue growth in 2026 with Q1 revenue of $24 million–$28 million and GAAP gross margins near 86%. The company ends the fiscal year with $222 million in cash following a 3.5 million-share follow-on that raised $63 million net and expects approximately $5 million in FX expense headwinds.