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Ceva, Inc. Announces Second Quarter 2024 Financial Results

Published

2 years ago

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– Licensing and related revenues $17.3 million, up 28% year-over-year
– Royalty revenue $11.2 million, up 19% year-over-year, generated from 461 million shipped units, up 24% year-over-year
– Long-term roadmap deals signed with 2 infrastructure OEMs developing custom silicon driven by rise in AI-related traffic on wireless networks
– Strategic deal signed with leading U.S. analog semiconductor company for Ceva-Waves Bluetooth portfolio

ROCKVILLE, Md., Aug. 7, 2024 /PRNewswire/ — Ceva, Inc. (NASDAQ: CEVA), the leading licensor of silicon and software IP that enables Smart Edge devices to connect, sense and infer data more reliably and efficiently, today announced its financial results for the second quarter ended June 30, 2024. Financial results for the second quarter ended June 30, 2023, reflect Ceva’s continuing operations only, with the Intrinsix business reflected as a discontinued operation, unless otherwise noted.

We are pleased to report strong execution and results for the second quarter that exceeded our estimates.

Operational Highlights:

Launched Ceva-Waves-Links, a Multi-Protocol wireless platform IP family to accelerate enhanced connectivity in MCUs and SOCs for IoT and Smart Edge AI applicationsExtended its Smart Edge IP leadership with Ceva-NeuPro-Nano, a TinyML Optimized family of NPUs for AIoT devicesAchieved an important milestone of surpassing 18 billion Ceva-powered devices shipped

Total revenue for the second quarter of 2024 was $28.4 million, up 24%, compared to $22.9 million reported for the second quarter of 2023. Licensing and related revenue for the second quarter of 2024 was $17.3 million, up 28%, compared to $13.6 million reported for the same quarter a year ago. Royalty revenue for the second quarter of 2024 was $11.2 million, up 19%, compared to $9.4 million reported for the same quarter a year ago.

Amir Panush, Chief Executive Officer of Ceva, commented: “We are pleased to report strong execution and results for the second quarter that exceeded our estimates, with licensing revenue and royalty revenue growing 28% and 19%, respectively, year over-year. In licensing, customer demand for our IP portfolio is being driven by the growing adoption of AI across every industry and every device. We signed a number of strategic deals in the quarter, including one with a leading U.S. analog semiconductor company for our Bluetooth portfolio and two with our large OEM customers in wireless infrastructure for their development of next-generation ASICs to address the incredible growth in network traffic and performance improvements required to support Generative AI and Hybrid AI systems. Our royalty business grew on the back of broad market strength and market share gains in IoT, and strong growth in the smartphone market.”

During the quarter, eleven IP licensing agreements were concluded, targeting a wide range of end markets and applications, including AI solutions for industrial and consumer edge AI devices, next-generation wireless infrastructure to enable ubiquitous AI, 5G satellite, 5G RedCap and Bluetooth connectivity for wearables and hearables. Five of the deals signed in the quarter were with OEMs and one deal signed was with a first-time customer.

GAAP gross margin for the second quarter of 2024 was 90%, as compared to 85% in the second quarter of 2023. GAAP operating loss for the second quarter of 2024 was $0.04 million, as compared to a GAAP operating loss of $5.3 million for the same period in 2023. GAAP net loss for the second quarter of 2024 was $0.3 million, as compared to a GAAP net loss of $4.9 million reported for the same period in 2023. GAAP diluted loss per share for the second quarter of 2024 was $0.01, as compared to GAAP diluted loss per share of $0.21 for the same period in 2023.

GAAP net loss with the discontinued operation for the second quarter of 2023 was $5.8 million. GAAP diluted loss per share with the discontinued operation for the second quarter of 2023 was $0.25.

Non-GAAP gross margin for the second quarter of 2024 was 91%, as compared to 86% for the same period in 2023. Non-GAAP operating income for the second quarter of 2024 was $4.4 million, as compared to non-GAAP operating loss of $1.1 million reported for the second quarter of 2023. Non-GAAP net income and diluted income per share for the second quarter of 2024 were $4.2 million and $0.17, respectively, compared with non-GAAP net loss and diluted loss per share of $0.5 million and $0.02, respectively, reported for the second quarter of 2023. 

Non-GAAP net loss including the discontinued operation for the second quarter of 2023 was $0.5 million. Non-GAAP diluted loss per share including the discontinued operation for the second quarter of 2023 was $0.02.

Yaniv Arieli, Chief Financial Officer of Ceva, stated: “Our excellent second quarter performance generated top line growth of 24% year-over-year and coupled with disciplined expense control, enabled us to expand our adjusted operating margin to 15%. We are encouraged by the strength of our licensing pipeline and royalty growth potential from our broad and diversified customer base and reflecting this, we continued to buy back the company’s stock during the quarter, repurchasing approximately 100,000 shares for approximately $2 million under our stock repurchase program. At the end of the quarter, our cash and cash equivalent balances, marketable securities and bank deposits were approximately $158 million, which we can leverage to grow our share in edge AI and other high-growth markets.”

Ceva Conference Call

On August 7, 2024, Ceva management will conduct a conference call at 8:30 a.m. Eastern Time to discuss the operating performance for the quarter.

The conference call will be available via the following dial in numbers:

U.S. Participants : Dial 1-844-435-0316 (Access Code : Ceva)International Participants: Dial +1-412-317-6365 (Access Code: Ceva)

The conference call will also be available live via webcast at the following link: https://app.webinar.net/8mGNyBxXMLR. Please go to the web site at least fifteen minutes prior to the call to register.

For those who cannot access the live broadcast, a replay will be available by dialing +1-877-344-7529 or +1-412-317-0088 (access code: 2162644) from one hour after the end of the call until 9:00 a.m. (Eastern Time) on Aug 14, 2024. The replay will also be available at Ceva’s web site www.ceva-ip.com.

Forward Looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, as well as assumptions that if they materialize or prove incorrect, could cause the results of Ceva to differ materially from those expressed or implied by such forward-looking statements and assumptions. Forward-looking statements include statements regarding the customer demand for Ceva’s IP portfolio being driven by the growing adoption of AI across every industry and every device, the strength of Ceva’s licensing pipeline and royalty growth potential, and Ceva’s ability to leverage its capital resources to grow its share in edge AI and other high-growth markets. The risks, uncertainties and assumptions that could cause differing Ceva results include: the effect of intense industry competition; the ability of Ceva’s technologies and products incorporating Ceva’s technologies to achieve market acceptance; Ceva’s ability to meet changing needs of end-users and evolving market demands; the cyclical nature of and general economic conditions in the semiconductor industry; Ceva’s ability to diversify its royalty streams and license revenues; Ceva’s ability to continue to generate significant revenues from the handset baseband market and to penetrate new markets; instability and disruptions related to the ongoing Israel–Gaza conflict; and general market conditions and other risks relating to Ceva’s business, including, but not limited to, those that are described from time to time in our SEC filings. Ceva assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Non-GAAP Financial Measures

Non-GAAP gross margin for both the second quarters of 2024 and 2023 excluded: (a) equity-based compensation expenses of $0.2 million and (b) amortization of acquired intangibles of $0.1 million.

Non-GAAP operating income for the second quarter of 2024 excluded: (a) equity-based compensation expenses of $3.9 million, (b) the impact of the amortization of acquired intangibles of $0.3 million, and (c) $0.3 million of costs associated with business acquisitions. Non-GAAP operating loss for the second quarter of 2023 excluded: (a) equity-based compensation expenses of $3.9 million, (b) the impact of the amortization of acquired intangibles of $0.3 million, and (c) $0.1 million of costs associated with business acquisitions.

Non-GAAP net loss and diluted loss per share for the second quarter of 2024 excluded: (a) equity-based compensation expenses of $3.9 million, (b) the impact of the amortization of acquired intangibles of $0.3 million, (c) $0.3 million of costs associated with business acquisitions and (d) $0.1 million loss associated with the remeasurement of marketable equity securities. Non-GAAP net loss and diluted loss per share for the second quarter of 2023 excluded: (a) equity-based compensation expenses of $3.9 million, (b) the impact of the amortization of acquired intangibles of $0.3 million, (c) $0.1 million of costs associated with business acquisitions and (d) $0.1 million loss associated with the remeasurement of marketable equity securities.

Non-GAAP net loss including the discontinued operation and diluted loss per share including the discontinued operation for the second quarter of 2023 excluded: (a) equity-based compensation expenses of $3.9 million, (b) the impact of the amortization of acquired intangibles of $0.3 million, (c) $0.1 million of costs associated with business acquisitions, (d) $0.1 million loss associated with the remeasurement of marketable equity securities and (e) $1.0 million loss associated with discontinued operations.

About Ceva, Inc.

At Ceva, we are passionate about bringing new levels of innovation to the smart edge. Our wireless communications, sensing and Edge AI technologies are at the heart of some of today’s most advanced smart edge products. From Bluetooth connectivity, Wi-Fi, UWB and 5G platform IP for ubiquitous, robust communications, to scalable Edge AI NPU IPs, sensor fusion processors and embedded application software that make devices smarter, we have the broadest portfolio of IP to connect, sense and infer data more reliably and efficiently. We deliver differentiated solutions that combine outstanding performance at ultra-low power within a very small silicon footprint. Our goal is simple – to deliver the silicon and software IP to enable a smarter, safer, and more interconnected world. This philosophy is in practice today, with Ceva powering more than 18 billion of the world’s most innovative smart edge products from AI-infused smartwatches, IoT devices and wearables to autonomous vehicles and 5G mobile networks.

Our headquarters are in Rockville, Maryland with a global customer base supported by operations worldwide. Our employees are among the leading experts in their areas of specialty, consistently solving the most complex design challenges, enabling our customers to bring innovative smart edge products to market.

Ceva is a sustainability- and environmentally-conscious company, adhering to our Code of Business Conduct and Ethics. As such, we emphasize and focus on environmental preservation, recycling, the welfare of our employees and privacy – which we promote on a corporate level. At Ceva, we are committed to social responsibility, values of preservation and consciousness towards these purposes.

Ceva: Powering the Smart Edge™

Visit us at www.ceva-ip.com and follow us on LinkedIn, X, YouTube, Facebook, and Instagram.

Ceva, Inc. AND ITS SUBSIDIARIES

 

INTERIM CONDENSED CONSOLIDATED STATEMENTS OF LOSS – U.S. GAAP

U.S. dollars in thousands, except per share data

Three months ended

Six months ended

June 30,

June 30,

2024

2023

2024

2023

Unaudited

Unaudited

Unaudited

Unaudited

Revenues:

Licensing and related revenues

$  17,278

$  13,551

$  28,692

$  31,799

Royalties

11,159

9,371

21,817

17,385

Total revenues

28,437

22,922

50,509

49,184

Cost of revenues

2,933

3,524

5,436

7,032

Gross profit

25,504

19,398

45,073

42,152

Operating expenses:

Research and development, net

18,758

18,056

36,749

36,730

Sales and marketing

3,095

2,632

5,911

5,351

General and administrative

3,537

3,911

7,109

7,738

Amortization of intangible assets

149

142

299

296

Total operating expenses

25,539

24,741

50,068

50,115

Operating loss

(35)

(5,343)

(4,995)

(7,963)

Financial income, net

1,406

1,118

2,663

2,573

Reevaluation of marketable equity securities

(58)

(119)

(118)

(236)

Income (loss) before taxes on income

1,313

(4,344)

(2,450)

(5,626)

Income tax expense

1,604

546

3,289

1,963

Net loss from continuing operation

(291)

(4,890)

(5,739)

(7,589)

Discontinued operation

—

(928)

—

(3,101)

Net loss

$  (291)

$  (5,818)

$  (5,739)

$  (10,690)

Basic and diluted net loss per share:

               Continuing operation

$   (0.01)

$   (0.21)

$   (0.24)

$   (0.32)

               Discontinued operation

—

(0.04)

—

(0.13)

Basic and diluted net loss per share

$   (0.01)

$   (0.25)

$   (0.24)

$   (0.46)

Weighted-average shares used to compute net loss
per share (in thousands):

Basic and diluted

23,628

23,476

23,568

23,405

 

Unaudited Reconciliation of GAAP to Non-GAAP Financial Measures

U.S. Dollars in thousands, except per share amounts

Three months ended

Six months ended

June 30,

June 30,

2024

2023

2024

2023

Unaudited

Unaudited

Unaudited

Unaudited

GAAP net loss

$  (291)

$  (5,818)

$  (5,739)

$  (10,690)

Equity-based compensation expense included in cost of
revenues

191

214

394

420

Equity-based compensation expense included in research
and development expenses

2,438

2,344

4,445

4,446

Equity-based compensation expense included in sales
and marketing expenses

451

449

816

827

Equity-based compensation expense included in general
and administrative expenses

820

903

1,816

1,769

Amortization of intangible assets related to acquisition
of businesses

278

251

556

475

Costs associated with business and asset acquisitions

252

95

532

95

Loss associated with the remeasurement of marketable
equity securities

58

119

118

236

Non-GAAP from discontinued operations

0

963

0

2,049

Non-GAAP net income (loss)

$  4,197

$  (480)

$  2,938

$  (373)

GAAP weighted-average number of Common Stock
used in computation of diluted net loss and loss per share
(in thousands)

23,628

23,476

23,568

23,405

Weighted-average number of shares related to
outstanding stock-based awards (in thousands)

1,482

—

1,421

—

Weighted-average number of Common Stock used in
computation of diluted earnings per share, excluding the
above (in thousands)

25,110

23,476

24,989

23,405

GAAP diluted loss per share

$  (0.01)

$  (0.25)

$  (0.24)

$  (0.46)

Equity-based compensation expense

$  0.16

$  0.17

$  0.32

$  0.32

Amortization of intangible assets related to acquisition
of businesses

$  0.01

$  0.01

$  0.02

$  0.02

Costs associated with business and asset acquisitions

$  0.01

$  0.00

$  0.02

$  0.00

Loss associated with the remeasurement of marketable
equity securities

$  0.00

$  0.01

$  0.00

$  0.01

Non-GAAP from discontinued operation

—

$  0.04

—

$  0.09

Non-GAAP diluted earnings (loss) per share

$  0.17

$  (0.02)

$  0.12

$  (0.02)

 

Three months ended

Six months ended

June 30,

June 30,

2024

2023

2024

2023

Unaudited

Unaudited

Unaudited

Unaudited

GAAP Operating loss

$  (35)

$  (5,343)

$  (4,995)

$  (7,963)

Equity-based compensation expense included in cost of revenues

191

214

394

420

Equity-based compensation expense included in research and development expenses

2,438

2,344

4,445

4,446

Equity-based compensation expense included in sales and marketing expenses

451

449

816

827

Equity-based compensation expense included in general and administrative expenses

820

903

1,816

1,769

Amortization of intangible assets related to acquisition of businesses

278

251

556

475

Costs associated with business and asset acquisitions

252

95

532

95

Total non-GAAP Operating Income (Loss)

$  4,395

$  (1,087)

$  3,564

$  69

 

Three months ended

Six months ended

June 30,

June 30,

2024

2023

2024

2023

Unaudited

Unaudited

Unaudited

Unaudited

GAAP Gross Profit

$  25,504

$  19,398

$  45,073

$  42,152

GAAP Gross Margin

90 %

85 %

89 %

86 %

Equity-based compensation expense included in cost of revenues

191

214

394

420

Amortization of intangible assets related to acquisition of businesses

129

109

257

179

Total Non-GAAP Gross profit

25,824

19,721

45,724

42,751

Non-GAAP Gross Margin

91 %

86 %

91 %

87 %

 

Ceva, Inc. AND ITS SUBSIDIARIES

INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. Dollars in thousands)

June 30,

December 31,

2024

2023 (*)

Unaudited

Unaudited

ASSETS

Current assets:

Cash and cash equivalents

$  24,702

$  23,287

Marketable securities and short-term bank deposits

133,709

143,251

Trade receivables, net

18,298

8,433

Unbilled receivables

17,357

21,874

Prepaid expenses and other current assets

13,201

12,526

Total current assets

207,267

209,371

Long-term assets:

Severance pay fund

6,762

7,070

Deferred tax assets, net

1,317

1,609

Property and equipment, net

6,843

6,732

Operating lease right-of-use assets

6,137

6,978

Investment in marketable equity securities

288

406

Goodwill

58,308

58,308

Intangible assets, net

2,411

2,967

Other long-term assets

11,069

10,644

Total assets

$  300,402

$  304,085

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Trade payables

$  1,092

$  1,154

Deferred revenues

2,830

3,018

Accrued expenses and other payables

18,445

20,202

Operating lease liabilities

2,615

2,513

Total current liabilities

24,982

26,887

Long-term liabilities:

     Accrued severance pay

7,210

7,524

Operating lease liabilities

2,964

3,943

Other accrued liabilities

1,460

1,390

Total liabilities

36,616

39,744

Stockholders’ equity:

Common stock

24

23

Additional paid in-capital

254,302

252,100

Treasury stock

(1,917)

(5,620)

Accumulated other comprehensive loss

(2,894)

(2,329)

Retained earnings

14,271

20,167

Total stockholders’ equity

263,786

264,341

Total liabilities and stockholders’ equity

$  300,402

$  304,085

(*) Derived from audited financial statements.

 

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SOURCE Ceva, Inc.

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STARTRADER Launches SKHY as SK Hynix Makes Its US Market Debut, Giving Clients Timely Access to a Key AI Memory Name

Published

45 minutes ago

on

July 23, 2026

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SKHY gives clients direct exposure to a key supplier of high-bandwidth memory at the heart of the AI acceleration market.

DUBAI, UAE, July 23, 2026 /PRNewswire/ — STARTRADER today announced the launch of SK Hynix Inc. (SKHY) as a US Stock CFD on its trading platform, available from July 22, 2026. Moving swiftly following SK Hynix’s recent US listing, which raised approximately $26.5 billion, STARTRADER is ensuring clients can engage with this name at the earliest opportunity.

This is precisely the type of occasion STARTRADER builds its product strategy around. As significant names enter the US market and begin drawing institutional attention, STARTRADER moves decisively to ensure clients have access when it carries the most relevance. For a company of SK Hynix’s standing in the AI memory supply chain, its US debut represents exactly that kind of opportunity.

The decision reflects a product philosophy centred on anticipation. As the boundary between global and US-listed equities continues to narrow, STARTRADER intends to remain consistently at that intersection, connecting clients to names the global investment community is beginning to follow closely and providing the access needed to engage with both confidence and context.

“Clients who follow the AI infrastructure story understand that the opportunity runs through the entire supply chain, including the memory and bandwidth that make large-scale AI possible. SK Hynix’s arrival on the US market made this the right moment to act, and acting early on behalf of our clients is exactly what we intend to keep doing.”

Peter Karsten, Chief Executive Officer, STARTRADER

SKHY marks the latest addition in a product offering designed to keep clients directly connected to the names and sectors defining the next phase of global market development, with the breadth and precision to engage with structural investment themes as they take shape.

Trading CFDs involves a significant risk of loss and may not be suitable for all investors. Please ensure you fully understand the risks before trading.

About STARTRADER
STARTRADER is a global multi-asset broker empowering retail and institutional partners to access global markets through a range of platforms, including MetaTrader, STAR-APP, and STAR-COPY. Regulated infive jurisdictions (CMA, ASIC, FSCA, FSA, and FSC), STARTRADER combines strong governance with a client-first approach, serving both retail clients and partners with a commitment to transparency, reliability, and long-term growth.

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FORD AND GEELY AUTO JOIN FORCES IN EUROPE TO PRODUCE NEXT-GENERATION MULTI-ENERGY VEHICLES IN SPAIN

Published

45 minutes ago

on

July 23, 2026

By

The global automakers plan to form a manufacturing joint venture at Ford’s Valencia, Spain, plant, combining scale and factory utilization, to build Ford and Geely vehiclesThe partnership, built on a foundation of trust and shared business principles, secures the future of the Valencia plant, provides long-term stability and creates the potential for future high-tech manufacturing job growthThe joint venture addresses the new realities of the European market — intense global competition, relentless cost pressure and tightening regulation — resetting Valencia to build at the industry’s emerging cost benchmarkThe Valencia plant will produce a new generation of low- and zero-emission vehicles for European markets, offering customers an outstanding technology experienceThe joint venture is expected to produce an all-new multi-energy crossover for Ford, in addition to a new member of the Bronco family, plus two electric Geely SUVs, with production starting in 2028. Kuga production continues uninterruptedThe collaboration accelerates Geely Auto’s European expansion, and supports Ford’s product offensive to bring five new passenger vehicles to European showrooms by 2029

VALENCIA, Spain, July 23, 2026 /PRNewswire/ — Ford Motor Company and Geely Automobile Holdings (hereafter “Geely Auto”) today announced an agreement to form a Europe-focused joint venture (JV) at Ford’s Valencia, Spain, manufacturing hub.

The new JV will manufacture Ford and Geely multi-energy passenger vehicles for the European market, driving greater choice and value for European drivers.

Europe is home to one of the fiercest competitive battles in the global automotive industry today. Tightening regulation, high operating costs and a new generation of global competitors have reset the industry’s benchmark for manufacturing cost, vehicle technology and software experience.

By pooling production volume, Ford and Geely will maximize the capacity of the Valencia plant, lower the cost of every vehicle built there, and compete at this emerging cost standard while delivering world-class multi-energy vehicles and strengthening the local Valencia economy in the process.

Pending regulatory approvals, the joint venture will begin operations in the first half of 2027, with the first new vehicles scheduled to roll off the line in 2028. The Valencia plant will continue to produce the Ford Kuga in the meantime.

“This JV with Ford in Europe reflects our commitment to open, collaborative product development as part of our growth strategy, deepening our local presence and commitment to customers in Europe”, said Alex Nan, Vice President of Geely Auto Group. “We are dedicated to delivering vehicles that European customers will choose on merit: on industry leading features, on high-quality and on actively contributing to Europe’s green future. Put simply: we are building cars in Europe, for Europe, alongside a trusted partner.”

Ford’s partnership with Geely is built on a foundation of trust and respect stretching back to 2010 when Ford sold Volvo Cars to Geely and watched it protect and revitalize the brand. Both companies share a commitment to quality, cost-efficient sourcing and continuous improvement, as well as a belief that customers should be able to choose their own path through the energy transition.

Transforming Valencia into a Powerhouse for Low-CO2 Mobility

The JV will transform Ford’s Valencia facility – already one of Europe’s most productive and advanced plants, with a potential annual capacity of about 500,000 vehicles – into a shared, high-tech manufacturing hub built to compete at the industry’s new global cost standard. The plant has been at the leading edge of the European market since it opened in 1976, when it built the original Ford Fiesta, Ford’s first global front-wheel-drive car, and a major success. Ford was the first non-Spanish automaker to build in Valencia, the start of a partnership with Spain and its people that remains as strong today.

Under the proposed ownership structure, Ford will own 66% of the new entity and Geely Auto 34%.

An Exciting Vehicle Lineup

“For nearly 50 years, Valencia has built some of the most-loved cars in our history, and now this team will help build our future”, said Jim Baumbick, President, Ford of Europe. ” That’s why we’re building a flexible, cost-effective industrial system with a capable partner in Geely Auto. Together we can fully utilize a best-in-class plant with a great workforce and match the industry’s new cost benchmark. This is all part of Ford’s vision to give European drivers rally-bred handling, true off-road capability and multi-energy technology, with a distinct Blue Oval DNA.”

The JV will combine the engineering, manufacturing and development know-how of two of the world’s leading automakers to build both Ford and Geely low- and zero-emission passenger vehicles. The cars will be tailored for European drivers and will offer them choice in powertrain technology, as well as outstanding digital experiences.

Ford Models:

The Popular Ford Kuga: Production of the Ford Kuga — one of Europe’s favorite plug-in hybrids — will continue uninterrupted in Valencia.A Rugged New Bronco: Valencia will also produce a new member of the global Bronco family – a tough, compact, adventure-ready SUV built for European roads, with production starting in 2028.An All-New Crossover: A multi-energy family crossover, designed by Ford and jointly developed with Geely will arrive in 2028. Engineered with Ford’s signature capabilities and driving dynamics, it is part of an aggressive product offensive that will bring five new multi-energy vehicles to Europe by 2029.

Geely Models:

Sleek Electric SUVs: Geely Auto plans to produce two electric SUVs at the Valencia facility in full support of their European focus and growth strategy. The first Geely-branded models to be manufactured under this joint venture are scheduled to roll off the production line in 2028.

The venture supports Geely Auto’s international expansion, following overseas sales of 474,228 vehicles in the first half of the year, while advancing Ford’s strategy of using partnerships to compete with speed, efficiency and scale in Europe.

“This partnership shows how automakers are strengthening Europe’s industrial base, but we can’t do it alone,” said Jim Baumbick. “What we’ve achieved in Valencia, with the ongoing support of Spain’s national and regional governments, is a masterclass in public-private partnership that sets the benchmark for the rest of Europe.”

About Ford Motor Company

Ford Motor Company (NYSE: F) is a global company based in Dearborn, Michigan, committed to helping build a better world, where every person is free to move and pursue their dreams. The company’s Ford+ plan for growth and value creation combines existing strengths, new capabilities, and always-on relationships with customers to enrich experiences for customers and deepen their loyalty. Ford develops and delivers innovative, must-have Ford trucks, sport utility vehicles, commercial vans and cars and Lincoln luxury vehicles, along with connected services, including BlueCruise (ADAS) and security. The company offers freedom of choice through three customer-centered business segments: Ford Blue, engineering iconic gas-powered and hybrid vehicles; Ford Model e, inventing breakthrough electric vehicles (“EVs”) along with embedded software that defines always-on digital experiences for all customers; and Ford Pro, helping commercial customers transform and expand their businesses with vehicles and services tailored to their needs. Additionally, the company provides financial services through Ford Motor Credit Company. Ford employs about 168,000 people worldwide. More information about the company and its products and services is available at corporate.ford.com.

About Geely Auto Group

Geely Auto Group is a leading global automotive company headquartered in Hangzhou, China. Part of Zhejiang Geely Holding Group, Geely Auto Group develops and manufactures passenger vehicles under the Geely, Lynk & Co, and Zeekr brands.

Geely Auto achieved cumulative sales of 3,024,567 units in 2025, exceeding the full-year sales target with a year-on-year growth of 39%. New energy vehicle (NEV) sales reached 1,687,767 units, a year-on-year increase of 90%.

With a strong focus on technology innovation, electrification, and sustainable mobility, Geely Auto Group operates world-class R&D centers and manufacturing facilities across China, Europe, and key international markets. The Group is committed to delivering safe, high-quality, and intelligent vehicles enabled by advanced technologies such as hybrid powertrains, full-electric architectures, smart connectivity, and autonomous driving systems.

As a global company, Geely Auto Group continues to expand its international presence through strategic partnerships, localized operations, and industry-leading platforms. Geely strives to create mobility solutions that are greener, smarter, and more accessible, driving forward the future of sustainable transportation.

Ford news releases, related materials, photos and video, visit From the Road, www.fordmedia.eu or www.media.ford.com.
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SOURCE Ford

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Technology

K25.ai Secures Series A Investment with Strategic Support from Amber Group, Valuation Doubles to US$200 Million

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45 minutes ago

on

July 23, 2026

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Series A follows K25.ai’s oversubscribed Pre-A round and accelerates its vision to make prediction markets native to live digital content

SINGAPORE, July 23, 2026 /PRNewswire/ — K25.ai, the AI-native prediction market transforming livestreams into real-time interactive markets, today announced the closing of its Series A investment round, with strategic support from Amber Group, at a post-money valuation of US$200 million, doubling the company’s valuation in under 60 days.

The Series A marks another major milestone for K25.ai as it builds a new category at the convergence of artificial intelligence, live digital content, creator economies and prediction markets.

K25.ai enables audiences to predict what happens next across live sports, esports, entertainment and creator content. Its proprietary AI infrastructure supports real-time market generation, content monitoring and outcome resolution, powering a seamless watch-to-predict experience.

The investment and strategic collaboration will accelerate K25.ai’s product development, global expansion, institutional liquidity infrastructure and creator ecosystem.

“We’re building the category where AI meets live content and real-money prediction. Amber Group’s backing — and the doubling of our valuation — confirms the market is ready. We’re moving fast,” said Andy Cheung, Founder and CEO of K25.ai.

Amber Group will support K25.ai across market infrastructure, liquidity strategy, ecosystem development and related digital asset expertise.

“K25.ai is creating a differentiated platform at the intersection of AI, real-time content and prediction markets,” said Haoyu, Portfolio Director of amber.ac. “We are excited to support its experienced team as it scales a new generation of interactive financial and entertainment experiences.”

The Series A follows K25.ai’s recently closed Pre-A round led by Nasdaq-listed NewGenIVF Group Limited (Nasdaq: NIVF). The Series A support from Amber Group doubles K25.ai’s valuation from its Pre-A round and adds a second institutional backer alongside NewGenIVF Group, extending K25.ai’s strategic support across both public markets and digital assets.

About K25.ai

K25.ai is an AI-native livestreaming prediction market transforming passive audiences into active participants. By combining live content, creator-led markets and AI-powered resolution, K25.ai is building the infrastructure for the next generation of interactive information markets.

About Amber Group

Amber Group is a global leader in digital assets, headquartered in Singapore. Amber Group is the parent company of Amber International Holding Limited (Nasdaq: AMBR), which operates as a separate publicly traded company. Since 2017, Amber Group has developed full-stack solutions that bridge traditional finance and digital assets, offering end-to-end services including wealth management, asset management, market making, advisory, investment, and infrastructure. These products and services are offered across various entities within Amber Group. Certain products, services, technologies, and initiatives described in this press release are developed or carried out by subsidiaries or affiliates of Amber Group other than Amber International Holding Limited, and are not necessarily conducted by or attributable to the listed entity.

Backed by top investors and equipped with deep expertise in both digital and traditional markets, Amber Group leverages AI, blockchain, and quantitative research to deliver personalized, cutting-edge solutions. The company focuses on servicing a diverse global clientele—comprising HNW individuals, institutions, funds, exchanges, and projects—to optimize returns safely across all market conditions.

Learn more at www.ambergroup.io.

Media and Investor Contacts

K25.ai Media Contact
media@k25.ai 

K25.ai Investor Relations Contact
ir@k25.ai 

K25.ai Partnership Contact
partnership@k25.ai 

View original content:https://www.prnewswire.com/news-releases/k25ai-secures-series-a-investment-with-strategic-support-from-amber-group-valuation-doubles-to-us200-million-302833151.html

SOURCE K25.ai

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