CEVA, Inc. Form 8-K Summary
Business Context and Reporting Period
CEVA, Inc. (CEVA), a Delaware corporation, filed this Current Report on Form 8-K on August 9, 2021. The filing announces financial results for the quarter ended August 9, 2021, and includes a conference call script discussing the second quarter of 2021. The company's common stock trades on The NASDAQ Stock Market LLC.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It references a press release (Exhibit 99.1) and conference call script (Exhibit 99.2) containing these figures. The report highlights the presentation of both GAAP and non-GAAP net income and diluted earnings per share (EPS).
Material Changes and Non-GAAP Adjustments
The filing details specific adjustments made to calculate non-GAAP results for the second quarter of 2021 compared to the prior period:
- Q2 2021 Exclusions: Equity-based compensation (net of tax), amortization of acquired intangibles (net of tax) related to Intrinsix and Hillcrest Labs acquisitions, investments in NB-IoT and Immervision technologies, and costs associated with the Intrinsix acquisition.
- Q2 2020 Exclusions: Equity-based compensation (net of tax) and amortization of acquired intangibles (net of tax) related to the Hillcrest Labs acquisition and investments in NB-IoT and Immervision technologies.
The company states these exclusions are intended to provide a more meaningful analysis of core operating results.
Guidance, Outlook, and Risks
The filing text does not contain specific forward-looking guidance, management commentary on future outlook, or a detailed list of risks and contingencies. It notes that the press release and conference call script contain the detailed discussion of results. The company emphasizes that non-GAAP measures should not be viewed as a substitute for GAAP results.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, net income, and EPS figures for the quarter ended August 9, 2021.
- Verify the reconciliation between GAAP and non-GAAP financial measures to understand the impact of excluded items.
- Examine Exhibit 99.2 (Conference Call Script) for management's commentary on operational trends and future outlook.
- Confirm the specific financial impact of the Intrinsix acquisition costs and amortization of intangibles.