Business Context and Reporting Period
Company: CEVA, Inc.
Filing Type: Form 8-K (Current Report)
Date of Report: November 8, 2018
Reporting Period: Third quarter ended September 30, 2018
CEVA, Inc. filed this report to announce its financial results for the quarter ended September 30, 2018. The filing references a press release (Exhibit 99.1) and a conference call script (Exhibit 99.2) containing the detailed results.
Key Financial Metrics
The filing text itself does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. These figures are contained within the attached press release and conference call script, which are not included in the provided text.
The report notes the inclusion of both GAAP and non-GAAP financial measures. Non-GAAP net income and diluted earnings per share exclude:
- Equity-based compensation expenses, net of taxes.
- Amortization of acquired intangibles associated with the acquisition of RivieraWaves and NB-IoT technology (for Q3 2018).
- Amortization of acquired intangibles associated with the acquisition of RivieraWaves SAS (for Q3 2017).
Material Changes
The filing text does not explicitly state the magnitude of changes in financial metrics versus the prior comparable period (Q3 2017). It only confirms that the press release includes a comparison of results for the quarters ended September 30, 2018, and 2017.
Guidance, Outlook, and Management Commentary
Management Commentary: Management stated that the reconciliation of financial measures is useful for investors to analyze core operating results and understand the impact of FASB ASC No. 718 (equity-based compensation). The company emphasizes that non-GAAP measures should be viewed in conjunction with GAAP results and are not a substitute for them.
Guidance and Risks: The provided text does not contain specific forward-looking guidance, risk factors, or contingencies beyond the standard disclosure regarding the use of non-GAAP measures.
Investor Verification Checklist
- Review Exhibit 99.1 (Press Release) for specific revenue, net income, and EPS figures for Q3 2018.
- Verify the specific dollar amounts excluded from non-GAAP calculations regarding equity-based compensation and intangible amortization.
- Compare Q3 2018 GAAP results against Q3 2017 GAAP results to determine year-over-year growth trends.
- Examine the conference call script (Exhibit 99.2) for management's qualitative outlook and discussion of market conditions.