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ROCKVILLE, Md. - Ceva, Inc. (NASDAQ:CEVA), a $678 million market cap technology company with impressive gross profit margins of 86%, and embedUR systems have partnered to launch ModelNova, a platform providing optimized AI models for Ceva’s NeuPro neural processing unit (NPU) family, according to a press release issued Tuesday. According to InvestingPro analysis, CEVA appears overvalued at current levels, though the company maintains a strong balance sheet with more cash than debt.
The platform will initially support Ceva’s ultra-low-power NeuPro-Nano NPUs and later extend to the higher-performance NeuPro-M NPUs. ModelNova aims to accelerate development of edge AI applications across wearables, hearables, smart home devices, industrial automation, and robotics. The company has demonstrated solid revenue growth of 7.71% over the last twelve months, reflecting its expanding market presence in the AI sector.
At launch, the platform features models optimized with TensorFlow Lite Micro and integrated with Ceva’s NeuPro Studio SDK. These models support capabilities including object detection, face recognition, pose estimation, and keyword spotting.
The collaboration focuses on advancing "physical AI" - embedding intelligence directly into devices to enable autonomous operation without cloud connectivity. This approach addresses requirements for low latency, privacy, and reliability in applications like robotics and health monitoring wearables.
"ModelNova is a powerful extension of our NeuPro ecosystem, giving developers access to a diverse and growing library of optimized AI models," said Elia Shenberger, Senior Director of Product Marketing, AI Division at Ceva.
Eric Smiley, VP of Business Development at embedUR, added that the platform provides developers with tools to "innovate quickly and efficiently, leveraging proven models tailored for real-world edge AI applications."
The dedicated ModelNova instance for Ceva’s NeuPro NPU family is available immediately, with plans to expand its model library and use-case blueprints for emerging edge AI applications.
Ceva licenses silicon and software IP for edge devices, with its technologies powering over 20 billion products worldwide according to the company’s statement. With the company’s next earnings report due on November 10, investors can access comprehensive analysis and additional insights through InvestingPro, which offers exclusive access to over 30 key financial metrics and expert-curated ProTips for CEVA and other technology stocks.
In other recent news, CEVA Inc. released its second-quarter 2025 earnings report, which showed the company exceeding earnings per share (EPS) expectations. CEVA reported an EPS of $0.07, surpassing the anticipated $0.06. However, the company’s revenue came in slightly below expectations, with $25.7 million reported against a forecast of $25.98 million. Despite this revenue miss, the company has been positively received by investors due to its strategic initiatives. Rosenblatt Securities maintained its Buy rating on CEVA, setting a price target of $40.00, following the earnings announcement. The firm specifically pointed to CEVA’s four strategic neural processing unit license agreements as a positive development. These AI processor deals are expected to boost future royalty revenue due to their higher average selling prices. These recent developments highlight CEVA’s ongoing efforts in advancing its technology and strategic growth.
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