CEVA, Inc. (NASDAQ:CEVA) Q3 2022 Earnings Conference Call November 9, 2022 8:30 AM ET

Company Participants

Richard Kingston - VP, Market Intelligence, Investor & Public Relations

Gideon Wertheizer - Chief Executive Officer

Yaniv Arieli - Chief Financial Officer

Conference Call Participants

Kevin Cassidy - Rosenblatt Securities

Chris Reimer - Barclays

Sean O'Loughlin - Cowen

Martin Yang - Oppenheimer

Suji Desilva - Roth Capital

Operator

Good day, and welcome to the CEVA, Inc., Third Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note today's event is being recorded.

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

Richard Kingston

Thank you, Rocco. Good morning, everyone, and welcome to CEVA's third quarter 2022 earnings conference call. I'm joined today by Gideon Wertheizer, Chief Executive Officer; and Yaniv Arieli, Chief Financial Officer of CEVA. Gideon will cover the business aspects and highlights for the second quarter and provide general qualitative data. And Yaniv will then cover the financial results for the third quarter and also provide guidance for the fourth quarter and full-year 2022.

I'll start with the forward-looking statements. Please note that today's discussions 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 regarding market trends and dynamics, including anticipated growth in wireless and Edge AI adoption and growing market share in Japan; our market position and strategy, including expansion of our design pipeline, increases to our IP content, revenue diversification and our abilities to develop partnerships with key customers and OEMs and to increase license fees and royalty ASPs; impacts of global economic uncertainty and COVID on our business, including royalties; demand for and benefits of our technologies; expectations and financial guidance regarding future performance, including for the full-year 2022 and anticipated royalties for 2023; and the timing and impact of changes to CEVA’s management.

For information on the factors that could cause a difference in our results, please refer to our filings with the Securities and Exchange Commission. These include: the scope and duration of the pandemic, including continued restrictions in China; the extent and length of the restrictions associated with the pandemic and the impact on customers, consumer demand and the global economy generally; the ability of CEVA’s IPs for smarter, connected devices to continue to be strong growth drivers for us; our success in penetrating new markets and maintaining our market position in existing markets; the ability of new products incorporating our technologies to achieve market acceptance; the speed and extent of the expansion of the 5G and IoT markets; our ability to execute more base station & IoT license agreements; the effect of intense industry competition and consolidation; global chip market trends, including supply chain issues as a result of COVID-19 and other factors; and our ability to successfully integrate Intrinsix into our business.