CEVA Inc (CEVA)

Gross profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Gross profit	US$ in thousands	85,771	105,452	105,879	89,577	77,046
Revenue	US$ in thousands	97,419	134,648	122,706	100,326	87,152
Gross profit margin		88.04%	78.32%	86.29%	89.29%	88.40%

December 31, 2023 calculation

Gross profit margin = Gross profit ÷ Revenue
= $85,771K ÷ $97,419K
= 88.04%

The gross profit margin of CEVA Inc has fluctuated over the past five years. In 2023, the gross profit margin was 88.04%, showing an increase from the previous year's 78.32%. This improvement suggests that the company was able to effectively manage its cost of goods sold and increase its profit margin on sales.

However, in 2021, CEVA Inc experienced a dip in its gross profit margin to 86.29%, which rebounded in 2022 to 78.32%. The company's gross profit margin was at its highest in 2020 at 89.29%, indicating strong profitability and efficient cost management during that period.

Overall, the trend in the gross profit margin of CEVA Inc shows some volatility, with fluctuations reflecting changes in the company's cost structure and pricing strategy over the years. Further analysis would be required to understand the underlying factors driving these fluctuations and assess the company's overall financial performance in more detail.