Business Context and Reporting Period
Company: CEVA, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: August 8, 2019
Reporting Period: Second quarter ended June 30, 2019
This filing announces the financial results for the quarter ended June 30, 2019, and references a press release and conference call script filed as exhibits. The company is incorporated in Delaware and trades on the NASDAQ under the symbol CEVA.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It confirms that the company reported both GAAP and non-GAAP net income and diluted earnings per share (EPS) for the second quarters of 2019 and 2018.
Non-GAAP Adjustments: Non-GAAP figures excluded the following items:
- Equity-based compensation expense, net of taxes.
- Amortization of acquired intangibles related to the acquisition of RivieraWaves.
- Impact of an investment in NB-IoT technologies.
Material Changes
The filing text does not provide specific data to quantify material changes in financial performance versus the prior comparable period (Q2 2018). It notes that the company provided a reconciliation of financial measures to assist investors in analyzing core operating results and comparing quarterly performance.
Guidance, Outlook, and Risks
Management Commentary: Management stated that the reconciliation of non-GAAP measures is useful for analyzing core operating results and understanding the impact of FASB ASC No. 718 (compensation) on income statements. The company emphasized that non-GAAP measures should be viewed in conjunction with GAAP results and not as a substitute.
Guidance and Risks: The filing text does not contain specific forward-looking guidance, risk factors, or contingencies beyond the standard disclosure that non-GAAP measures are supplemental.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, net income, and EPS figures for Q2 2019 and Q2 2018.
- Verify the specific dollar amounts excluded from non-GAAP calculations regarding equity-based compensation and intangible amortization.
- Examine Exhibit 99.2 (Conference Call Script) for management's commentary on market trends and future outlook.
- Confirm the impact of the RivieraWaves acquisition and NB-IoT investment on the current quarter's amortization expenses.