CEVA INC

For the period ended Sep 30, 2025. Filed Nov 10, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 10, 2025

CEVA$24.84-8.3%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Item 1. FINANCIAL STATEMENTS

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)

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

	September 30, 2025	December 31, 2024
ASSETS
Current assets:
Cash and cash equivalents	$17,270	$18,498
Short-term bank deposits	2,807	2,029
Marketable securities	131,981	143,117
Trade receivables (net of allowance for credit losses of $2,626 at both September 30, 2025 and December 31, 2024)	49,699	37,209
Prepaid expenses and other current assets	12,649	15,488
Total current assets	214,406	216,341
Long-term assets:
Severance pay fund	8,021	7,161
Deferred tax assets, net	1,402	1,456
Property and equipment, net	6,008	6,877
Operating lease right-of-use assets	3,962	5,811
Goodwill	58,308	58,308
Intangible assets, net	1,252	1,877
Investments in marketable equity securities	51	312
Other long-term assets	12,604	10,805
Total long-term assets	91,608	92,607
Total assets	$306,014	$308,948
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Trade payables	$1,782	$1,125
Deferred revenues	3,052	3,599
Accrued expenses and other payables	5,239	6,243
Accrued payroll and related benefits	13,400	16,964
Operating lease liabilities	1,235	2,598
Total current liabilities	24,708	30,529
Long-term liabilities:
Accrued severance pay	8,318	7,365
Operating lease liabilities	2,543	2,963
Other accrued liabilities	1,726	1,535
Total long-term liabilities	12,587	11,863
Stockholders’ equity:
Preferred Stock: $0.001 par value: 5,000,000 shares authorized; none issued and outstanding	—	—
Common Stock: $0.001 par value: 45,000,000 shares authorized; 24,133,325 and 23,756,255 shares issued at September 30, 2025 and December 31, 2024, respectively. 24,016,853 and 23,626,865 shares outstanding at September 30, 2025 and December 31, 2024, respectively	24	24
Additional paid in-capital	269,944	259,891
Treasury stock at cost (116,472 and 129,390 shares of common stock at September 30, 2025, and December 31, 2024, respectively)	(2,553)	(3,222)
Accumulated other comprehensive gain (loss)	201	(1,330)
Retained earnings	1,103	11,193
Total stockholders’ equity	268,719	266,556
Total liabilities and stockholders’ equity	$306,014	$308,948

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF LOSS (UNAUDITED)

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

Nine months ended · Three months ended
	September 30,		September 30,
	2025	2024	2025	2024
Revenues:
Licensing and related revenue	$46,092	$44,266	$16,028	$15,574
Royalties	32,215	33,450	12,356	11,633
Total revenues	78,307	77,716	28,384	27,207
Cost of revenues	10,428	9,397	3,392	3,961
Gross profit	67,879	68,319	24,992	23,246
Operating expenses:
Research and development, net	55,899	54,739	19,532	17,990
Sales and marketing	9,783	8,999	3,012	3,088
General and administrative	12,697	11,751	4,383	4,642
Amortization of intangible assets	448	449	149	150
Total operating expenses	78,827	75,938	27,076	25,870
Operating loss	(10,948)	(7,619)	(2,084)	(2,624)
Financial income, net	5,466	4,962	1,245	2,299
Remeasurement of marketable equity securities	(261)	(97)	1	21
Loss before taxes on income	(5,743)	(2,754)	(838)	(304)
Income tax expense	3,797	4,296	1,671	1,007
Net loss	$(9,540)	$(7,050)	$(2,509)	$(1,311)
Basic and diluted net loss per share	$(0.40)	$(0.30)	$(0.10)	$(0.06)
Weighted-average shares used to compute net loss per share (in thousands):
Basic and diluted	23,869	23,605	23,942	23,678

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED)

U.S. dollars in thousands

Nine months ended · Three months ended
	September 30,		September 30,
	2025	2024	2025	2024
Net loss:	$(9,540)	$(7,050)	$(2,509)	$(1,311)
Other comprehensive income (loss) before tax:
Available-for-sale securities:
Changes in unrealized gains	1,497	2,607	483	2,177
Reclassification adjustments for gains included in net loss	(16)	(14)	—	(4)
Net change	1,481	2,593	483	2,173
Cash flow hedges:
Changes in unrealized gains (losses)	1,212	(199)	66	140
Reclassification adjustments for gains included in net loss	(1,009)	(767)	(648)	(160)
Net change	203	(966)	(582)	(20)
Other comprehensive income (loss) before tax	1,684	1,627	(99)	2,153
Income tax expense related to components of other comprehensive income (loss)	153	254	44	215
Other comprehensive income (loss), net of taxes	1,531	1,373	(143)	1,938
Comprehensive income (loss)	$(8,009)	$(5,677)	$(2,652)	$627

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’** EQUITY (UNAUDITED)**

U.S. dollars in thousands, except share data

Common stock
Nine months ended September 30, 2025 · Number of shares outstanding · Amount · Additional paid-in capital · Treasury stock · Accumulated other comprehensive income (loss) · Retained earnings · Total stockholders’ equity
Balance as of January 1, 2025	23,626,865	$24		$259,891	$(3,222)	$(1,330)	$11,193	$266,556
Net loss	—	—		—	—	—	(9,540)	(9,540)
Other comprehensive income, net	—	—		—	—	1,531	—	1,531
Equity-based compensation	—	—		14,098	—	—	—	14,098
Purchase of treasury stock	(340,295)	—	(*)	—	(7,150)	—	—	(7,150)
Issuance of common stock upon exercise of stock-based awards	377,070	—	(*)	1,358	—	—	—	1,358
Issuance of treasury stock upon exercise of stock-based awards	353,213	—	(*)	(5,403)	7,819	—	(550)	1,866
Balance as of September 30, 2025	24,016,853	$24		$269,944	$(2,553)	$201	$1,103	$268,719

Common stock
Three months ended September 30, 2025 · Number of shares outstanding · Amount · Additional paid-in capital · Treasury stock · Accumulated other comprehensive income (loss) · Retained earnings · Total stockholders’ equity
Balance as of July 1, 2025	23,847,325	$24		$267,743	$(5,874)	$344	$3,655	$265,892
Net loss	—	—		—	—	—	(2,509)	(2,509)
Other comprehensive loss, net	—	—		—	—	(143)	—	(143)
Equity-based compensation	—	—		4,873	—	—	—	4,873
Purchase of treasury stock	(40,295)	—	(*)	—	(988)	—	—	(988)
Issuance of treasury stock upon exercise of stock-based awards	209,823	—	(*)	(2,672)	4,309	—	(43)	1,594
Balance as of September 30, 2025	24,016,853	$24		$269,944	$(2,553)	$201	$1,103	$268,719

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’** EQUITY (UNAUDITED)**

U.S. dollars in thousands, except share data

Common stock
Nine months ended September 30, 2024 · Number of shares outstanding · Amount · Additional paid-in capital · Treasury stock · Accumulated other comprehensive income (loss) · Retained earnings · Total stockholders’ equity
Balance as of January 1, 2024	23,440,848	$23		$252,100	$(5,620)	$(2,329)	$20,167	$264,341
Net loss	—	—		—	—	—	(7,050)	(7,050)
Other comprehensive income, net	—	—		—	—	1,373	—	1,373
Equity-based compensation	—	—		11,679	—	—	—	11,679
Purchase of treasury stock	(343,604)	—	(*)	—	(7,456)	—	—	(7,456)
Issuance of common stock upon exercise of stock-based awards	61,065	—	(*)	—	—	—	—	—
Issuance of treasury stock upon exercise of stock-based awards	468,438	1		(7,094)	10,133	—	(157)	2,883
Balance as of September 30, 2024	23,626,747	$24		$256,685	$(2,943)	$(956)	$12,960	$265,770

Common stock
Three months ended September 30, 2024 · Number of shares outstanding · Amount · Additional paid-in capital · Treasury stock · Accumulated other comprehensive income (loss) · Retained earnings · Total stockholders’ equity
Balance as of July 1, 2024	23,659,925	$24		$254,302	$(1,917)	$(2,894)	$14,271	$263,786
Net loss	—	—		—	—	—	(1,311)	(1,311)
Other comprehensive income, net	—	—		—	—	1,938	—	1,938
Equity-based compensation	—	—		4,208	—	—	—	4,208
Purchase of treasury stock	(186,301)	—	(*)	—	(4,180)	—	—	(4,180)
Issuance of treasury stock upon exercise of stock-based awards	153,123	—	(*)	(1,825)	3,154	—	—	1,329
Balance as of September 30, 2024	23,626,747	$24		$256,685	$(2,943)	$(956)	$12,960	$265,770

(*)	Amount less than $1.

The accompanying notes are an integral part of the consolidated financial statements.

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

U.S. dollars in thousands

	Nine months ended September 30,
	2025	2024
Cash flows from operating activities:
Net loss	$(9,540)	$(7,050)
Adjustments required to reconcile net loss to net cash used in operating activities:
Depreciation	2,495	2,155
Amortization of intangible assets	625	835
Equity-based compensation	14,098	11,679
Realized gain on sale of available-for-sale marketable securities	(16)	(14)
Accretion of discount on available-for-sale marketable securities	(635)	(654)
Unrealized foreign exchange gain	(1,123)	(467)
Remeasurement of marketable equity securities	261	97
Changes in operating assets and liabilities:
Trade receivables, net	(12,224)	(7,812)
Prepaid expenses and other assets	(477)	(3,711)
Operating lease right-of-use assets	1,849	1,353
Accrued interest on bank deposits	8	550
Deferred tax, net	(99)	(330)
Trade payables	442	422
Deferred revenues	(547)	400
Accrued expenses and other payables	(920)	(15)
Accrued payroll and related benefits	(4,220)	(703)
Operating lease liability	(2,121)	(1,314)
Accrued severance pay, net	64	8
Net cash used in operating activities	(12,080)	(4,571)
Cash flows from investing activities:
Purchase of property and equipment	(1,428)	(1,926)
Proceeds from the sale of Intrinsix	3,470	540
Asset acquisition	—	(753)
Investment in bank deposits	(2,705)	(2,000)
Proceeds from bank deposits	2,000	10,000
Investment in available-for-sale marketable securities	(49,843)	(41,308)
Proceeds from maturity of available-for-sale marketable securities	59,197	24,580
Proceeds from sale of available-for-sale marketable securities	3,914	9,806
Net cash provided by (used in) investing activities	14,605	(1,061)
Cash flows from financing activities:
Purchase of treasury stock	(7,150)	(7,456)
Proceeds from exercise of stock-based awards	3,224	2,883
Net cash used in financing activities	(3,926)	(4,573)
Effect of exchange rate changes on cash and cash equivalents	173	146
Decrease in cash and cash equivalents	(1,228)	(10,059)
Cash and cash equivalents at the beginning of the period	18,498	23,287
Cash and cash equivalents at the end of the period	$17,270	$13,228
Supplemental information of cash-flow activities:
Cash paid during the period for:
Income and withholding taxes	$1,900	$3,934
Non-cash transactions:
Property and equipment purchases incurred but unpaid at period end	$198	$351
Right-of-use assets obtained in the exchange for operating lease liabilities	$94	$457

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.