CEVA, INC. AND ITS SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(U.S. Dollars in thousands)

December 31,

December 31,

2022

2021(*)

Unaudited

Unaudited

ASSETS

Current assets:

Cash and cash equivalents

$  21,285

$  33,153

Marketable securities and short-term bank deposits

118,194

121,708

Trade receivables, net

12,320

14,644

Unbilled receivables

18,953

12,805

Prepaid expenses and other current assets

6,896

6,670

Total current assets

177,648

188,980

Long-term assets:

Bank deposits

8,205

—

Severance pay fund

8,475

10,175

Deferred tax assets, net

8,576

15,850

Property and equipment, net

7,099

6,765

Operating lease right-of-use assets

10,283

8,827

Investment in marketable equity securities

408

2,919

Goodwill

74,777

74,777

Intangible assets, net

6,680

14,607

Other long-term assets

6,291

5,759

Total assets

$  308,442

$  328,659

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Trade payables

$  1,995

$  1,464

Deferred revenues

3,168

8,661

Accrued expenses and other payables

22,586

21,621

Taxes payable

2,547

420

Operating lease liabilities

2,982

3,274

Total current liabilities

33,278

35,440

Long-term liabilities:

Accrued severance pay

9,064

10,551

Operating lease liabilities

6,703

5,130

Other accrued liabilities

526

806

Total liabilities

49,571

51,927

Stockholders' equity:

Common stock

23

23

Additional paid in-capital

242,841

235,386

Treasury stock

(9,904)

(13,790)

Accumulated other comprehensive income (loss)

(6,249)

(372)

Retained earnings

32,160

55,485

Total stockholders' equity

258,871

276,732

Total liabilities and stockholders' equity

$  308,442

$  328,659

(*) Derived from audited financial statements