Ceva Inc. reported third quarter 2025 revenue of $28.4 million, representing an increase of 11% sequentially and 4% year-over-year. AI processor licensing contributed about one-third of licensing revenue in both the second and third quarters. Royalty revenue grew by 16% sequentially and 6% year-over-year, supported by record wireless IoT device shipments, with new highs in Wi-Fi 6 and cellular IoT. Key business developments included a strategic NeuPro NPU portfolio license agreement with Microchip, three new AI DSP agreements, and new design wins for Wi-Fi 7 and Bluetooth High Data Throughput IP. Ceva repurchased 40,295 shares for approximately $1.0 million during the quarter, and $7.2 million year-to-date.