Ceva, Inc. AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. Dollars in thousands)

March 31,

December 31,

2024

2023 (*)

Unaudited

Unaudited

ASSETS

Current assets:

Cash and cash equivalents

$  21,222

$  23,287

Marketable securities and short-term bank deposits

137,532

143,251

Trade receivables, net

14,052

8,433

Unbilled receivables

19,583

21,874

Prepaid expenses and other current assets

13,378

12,526

Total current assets

205,767

209,371

Long-term assets:

Severance pay fund

6,897

7,070

Deferred tax assets, net

1,239

1,609

Property and equipment, net

7,157

6,732

Operating lease right-of-use assets

6,704

6,978

Investment in marketable equity securities

346

406

Goodwill

58,308

58,308

Intangible assets, net

2,689

2,967

Other long-term assets

12,332

10,644

Total assets

$  301,439

$  304,085

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Trade payables

$  1,804

$  1,154

Deferred revenues

2,479

3,018

Accrued expenses and other payables

19,838

20,202

Operating lease liabilities

2,634

2,513

Total current liabilities

26,755

26,887

Long-term liabilities:

   Accrued severance pay

7,339

7,524

Operating lease liabilities

3,525

3,943

Other accrued liabilities

1,471

1,390

Total liabilities

39,090

39,744

Stockholders' equity:

Common stock

24

23

Additional paid in-capital

252,927

252,100

Treasury stock

(2,528)

(5,620)

Accumulated other comprehensive loss

(2,720)

(2,329)

Retained earnings

14,646

20,167

Total stockholders' equity

262,349

264,341

Total liabilities and stockholders' equity

$  301,439

$  304,085