Ceva Inc (NASDAQ: CEVA)

Ceva Inc is a leader in silicon and software intellectual property enabling Physical AI. The company designs and licenses IP platforms processors software and related technologies that let devices connect sense and infer data at the edge.

Ceva Inc generates revenue primarily through licensing and royalty arrangements. Customers pay upfront fees for access to IP cores development tools and technical support and they pay ongoing royalties based on unit shipments that incorporate the company's technology. The main products are wireless connectivity IP sensing and audio processing solutions and AI inference NPUs.

The company operates through the following segments.

• Connect: Provide wireless connectivity IP including Bluetooth Wi Fi UWB cellular IoT and 5G Advanced platforms enabling devices to communicate.

• Sense: Provide DSPs and embedded software for sensing perception and audio processing supporting vision radar IMU fusion audio enhancement spatial computing.

• Infer: Provide AI processing and neural network acceleration NPUs and toolchains for embedded AI generative AI and automotive grade inference.

Ceva Inc holds the number one worldwide share in wireless connectivity IP with 68% of the market in 2024. It powers about 30% of worldwide Bluetooth IoT devices approximately 50% of True Wireless Stereo earbuds non Apple about 40% of worldwide cellular IoT devices and roughly 30% of global 5G networks that use its DSP technology for RAN baseband processing. The company competes with Arm Cadence Imagination Technologies VeriSilicon Andes Technology SiFive Expedera Quadric Digital Media Professionals and GlobalFoundries. In the AI accelerator space it faces rivals such as Arm Ethos Cadence AI Vision DSP families Imagination AI accelerators Cambricon Ambarella CVflow and open source engines like Nvidia NVDLA. Short range wireless IP suppliers such as Mindtree and internal design teams at large semiconductor companies also pose competition. Competitive advantages stem from performance power efficiency flexibility time to market standards leadership software ecosystem depth developer tools and quality of customer support.

Ceva Inc serves hundreds of semiconductor and OEM customers worldwide including seven of the top ten MCU vendors. Notable licensees are Actions Ambiq ASPEED ASR Microelectronics Atmosic Beken Bestechnic boAt Broadcom Ceragon Cirrus Logic Espressif Systems ESWIN Fujifilm Rockchip Goodix Hisense iCatch Technology iCOM InPlay Intel Itron LG Electronics LifeSignals ListenAI MediaTek Microchip Nations Technologies Nextchip Nordic Semiconductor Nothing Novatek NXP onsemi Oticon Panasonic Qualcomm Realtek Renesas Rohm Samsung SatixFy Sharp SiFli SigmaStar Socionext Sony Sonova STMicroelectronics Synaptics THX Toshiba Unisoc Vatics Winner Micro and Yamaha.