Total Revenue

+10% (from $22.072M to $24.245M)

The 10% increase in Q1 2025 total revenue is driven by strong growth in licensing and related revenue, which surged by 32%, offsetting a 14% decline in royalties. This mixed performance built upon the solid revenue base in previous periods where licensing and royalties had different growth drivers. " "

Licensing and Related Revenue

+32% (from $11.414M to $15.042M)

The 32% jump is attributed to the execution of 11 new IP licensing agreements (including deals with first-time customers) and targeted initiatives in high-growth markets such as edge AI and Wi-Fi 7 connectivity, building on prior gains in licensing activity from previous periods. " "

Royalties

-14% (from $10.658M to $9.203M)

The 14% drop in royalties contrasts with previous strong performance (e.g., the 18% increase seen in FY 2024) and is mainly due to soft low-cost smartphone shipments and a slower ramp-up by an industrial customer, indicating shifting market dynamics compared to earlier periods. " "

Operating Performance

Net loss improved by 39%<br>(from -$5.448M to -$3.327M; operating loss narrowed from -$4.960M to -$4.382M)

Improved deal economics and robust licensing revenue contributed to narrowing operating losses and reducing the net loss by 39%, reflecting better cost management and operational efficiency compared to the previous period despite the mixed impact from declining royalties. " "

Financial Income

+67% (from $1.257M to $2.100M)

The 67% increase in financial income resulted from a significant appreciation of the Euro (over 7%), which enhanced the value of Euro-denominated assets like French tax receivables relative to the prior period. " "