(RTTNews) - Ceva, Inc. (CEVA) posted a GAAP net loss for the first quarter of $3.3 million, compared to a GAAP net loss of $5.4 million for the same period in 2024. GAAP loss per share was $0.14, compared to a loss per share of $0.23. Non-GAAP net income and income per share were $1.4 million and $0.06, respectively, compared with a non-GAAP net loss and loss per share of $1.3 million and $0.05, respectively, a year ago. Analysts on average expected the company to report profit per share of $0.07, for the quarter. Analysts' estimates typically exclude special items.
Total revenue for the first quarter was $24.2 million, compared to $22.1 million for the first quarter of 2024.
Yaniv Arieli, CFO of Ceva, stated: "We experienced a shortfall in royalty revenue in the quarter due to a combination of soft low-cost smartphone shipments and an industrial customer who had a slower product ramp-up than in the prior year."
Shares of Ceva are down 7% in pre-market trade on Wednesday.
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