CEVA
The quarter in one breath
CEVA came out swinging in Q2 2026: revenue rose 13% year over year to $29 million, and licensing-related revenue climbed 21% to its highest level in three years. That’s the kind of combo platter investors like — more near-term cash from licensing, plus a nicer-looking royalty runway later.
The AI angle is the real headline
The company also said it signed 10 licensing agreements during the quarter, including a standout deal with a global AI and computing platform company for next-gen custom AI silicon. Translation: CEVA isn’t just selling pieces of IP to random chipmakers anymore; it’s getting pulled deeper into the actual AI stack.
That matters because deeper platform-level deals can be stickier, more strategic, and more lucrative if the customer’s silicon ships at scale. In other words, this isn’t just a nice press release for the slide deck — it could shape CEVA’s royalty business for years.
Guidance got a little louder
Management raised its full-year revenue growth outlook to 13% to 15% and said non-GAAP operating income should jump about 70% for the year. That’s a pretty healthy vote of confidence, especially with second-half strength expected to do the heavy lifting.
Big picture: CEVA’s story is starting to look less like a sleepy IP royalty name and more like a levered play on edge AI, wireless, and automotive silicon getting smarter.