CEVA, Q3 2026 Earnings Call Transcript

CEVA’s third-quarter results showed record AI licensing, with AI accounting for more than 35% of licensing revenue, and royalty growth driven by mobile and broad-based IoT. A delayed multiyear connectivity deal was signed early in Q4, while memory-market pressures weighed on demand for smartphones, PCs and TVs. Management expects smartphone modem royalties at a major U.S. customer to ramp significantly in Q4 and continue through 2027 and beyond; initial NeuPro royalties are expected around year-end or early 2027, with broader growth through 2027–28. Fourth-quarter revenue is forecast at $34–38 million, with the midpoint implying a record quarter and roughly 24% sequential growth, supported by modem royalties, seasonality and licensing. The company cites a robust licensing pipeline into 2027 and expects full-year 2026 revenue growth of about 11%.