CEVA, Inc. (CEVA) Q1 2024 Earnings Call Transcript

May 09, 2024 4:35 PM ETCEVA, Inc. (CEVA) StockCEVA
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Q1: 2024-05-09 Earnings Summary

EPS of -$0.05 misses by $0.08
 | Revenue of $22.07M (-23.19% Y/Y) misses by $1.05M

CEVA, Inc. (NASDAQ:CEVA) Q1 2024 Earnings Conference Call May 9, 2024 8:30 AM ET

Company Participants

Richard Kingston - VP, Market Intelligence & Investor and Public Relations
Amir Panush - Chief Executive Officer
Yaniv Arieli - Chief Financial Officer

Conference Call Participants

Matt Ramsay - TD Cowen
Kevin Cassidy - Rosenblatt Securities
David O'Connor - BNP Paribas

Operator

Good day, and welcome to the CEVA, Inc. First Quarter 2024 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Richard Kingston, Vice President, Market Intelligence, Investor and Public Relations. Please go ahead.

Richard Kingston

Thank you, Jason. Good morning, everyone, and welcome to Ceva's first quarter 2024 earnings conference call.

Joining me today on the call are Amir Panush, Chief Executive Officer; and Yaniv Arieli, Chief Financial Officer of Ceva.

Before handing over to Amir, I would like to remind everyone 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 about our market positioning, strategy and growth opportunities, market trends and dynamics, Ceva's ability to execute on backlog deals in the second quarter and to reach total revenue target for the year, expectations regarding demand for and benefits of our technologies and our expectations on financial goals and guidance regarding future performance. Ceva assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

In addition, following the divestment of the Intrinsix business, financial results from Intrinsix were transitioned to a discontinued operation beginning in the third quarter of 2023, and all prior period financial results have been

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