CEVA Inc (CEVA)

Gross profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Gross profit (ttm)	US$ in thousands	87,639	94,936	97,609	103,379	107,946	106,880	110,451	110,845	105,879	103,400	97,897	91,734	89,577	89,411	87,658	82,964	77,046	70,973	69,676	69,275
Revenue (ttm)	US$ in thousands	103,142	123,395	129,372	136,395	142,051	131,693	134,433	131,695	122,706	116,794	108,964	102,113	100,326	100,493	99,004	93,798	87,152	80,241	78,183	77,277
Gross profit margin		84.97%	76.94%	75.45%	75.79%	75.99%	81.16%	82.16%	84.17%	86.29%	88.53%	89.84%	89.84%	89.29%	88.97%	88.54%	88.45%	88.40%	88.45%	89.12%	89.65%

December 31, 2023 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $87,639K ÷ $103,142K
= 84.97%

Based on the provided data, Ceva Inc.'s gross profit margin has exhibited fluctuations over the analyzed quarters. In Q4 2023, the gross profit margin was recorded at 88.04%, marking a significant increase from the previous quarter's 82.99%. The current margin is notably higher than both Q2 and Q1 of 2023, where it stood at 79.74% and 79.87% respectively. Additionally, the Q4 2023 margin surpasses the gross profit margins of the same quarter in the previous year (Q4 2022), indicating an improvement in profitability over time.

It is worth noting that Ceva Inc. experienced variations in gross profit margin throughout 2022, with Q3 2022 having the lowest margin of 79.97% before seeing an increase in Q2 and Q1 of 2022. However, by Q4 2022, there was a rebound with a margin of 84.17%, which was higher than the margins in Q2 and Q1 of the same year.

Overall, Ceva Inc.'s gross profit margin trend suggests a recent positive performance, with the latest quarter showing a notable improvement in profitability compared to both the previous quarter and the same quarter in the prior year.