US Market News
1週前
Innoviz Technologies Proud to Enable Mobileye Drive™ as Mobileye Announces Vertically Integrated Robotaxi BusinessJune 22, 2026 8:00 AM
PR Newswire (US) Innoviz sees an over 150,000 LiDAR unit opportunity in this program. Mobileye's initial fleet is targeted for deployment in 2027, scaling to 17,000 vehicles over the following 5 years TEL AVIV, Israel, June 22, 2026 /PRNewswire/ -- Innoviz Technologies Ltd. (NASDAQ: INVZ), a leading supplier of high-performance, automotive-grade LiDAR sensors, today highlighted its role as a LiDAR supplier for Mobileye Drive™, following the announcement by Mobileye (NASDAQ: MBLY) that it will establish a vertically integrated robotaxi business, targeting launch in a U.S. city in 2027. Mobileye Drive™ is a standalone self-driving system that enables mobility service providers and vehicle manufacturers to make robotaxis, ride-pooling, public transport, and goods delivery fully autonomous. Innoviz LiDARs are integrated into the platform alongside Mobileye's imaging radars and high-resolution cameras, providing the 3D sensing layer that enables safe and reliable operation across complex urban environments. The Mobileye Drive™ configuration integrates a suite of nine InnovizTwo Long-Range and Short-to-Mid-Range LiDARs per vehicle, delivering comprehensive 360-degree coverage.Under the new initiative, Mobileye will operate its own autonomous ride-hailing service, combining Mobileye Drive™ with its Moovit subsidiary's mobility platform, fleet management, and teleoperation infrastructure. Mobileye plans to deploy an initial fleet of approximately 100 vehicles in a major U.S. metropolitan market in 2027, scaling to approximately 17,000 vehicles over the following five years. The current configuration of the Drive™ platform integrates nine InnovizTwo LiDARs, representing a potential opportunity of more than 150,000 units."We are proud that Innoviz LiDARs are part of the technology making the robotaxi revolution possible," said Omer Keilaf, CEO and Founder of Innoviz Technologies. "Mobileye Drive™ is already operating in the real world today, and Mobileye's decision to take direct ownership of a robotaxi service at scale reflects the maturity of the platform and the confidence they have in the full technology stack. This is Physical AI in practice: intelligence acting in the real world, in real time, in real cities. We look forward to seeing it continue to scale."About InnovizInnoviz is a leading provider of LiDAR technology, serving as a Tier-1 supplier to the world's leading automotive manufacturers and working towards a future with safe autonomous vehicles on the world's roads. Innoviz's LiDAR and perception software "see" better than a human driver and reduce the possibility of error, meeting the automotive industry's strictest expectations for performance and safety. Innoviz's LiDAR sensors are designed to deliver exceptional range, resolution, and reliability, providing accurate 3D sensing in harsh weather conditions. Operating across the U.S., Europe, and Asia, Innoviz designs solutions for automotive OEMs, system integrators, municipalities, commercial enterprises, and other use cases worldwide. InnovizSMART is an off-the-shelf solution for security, defense and homeland security, intelligent traffic management, mobility, robotics, and aerial applications.For more information, visit https://innoviz.tech/Join the discussion: Facebook, LinkedIn, YouTube, TwitterForward Looking StatementsThis announcement contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the services and products offered by Innoviz, the anticipated technological capability of Innoviz's products, and the markets in which Innoviz operates. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.Many factors could cause actual future events to differ materially from the forward-looking statements in this announcement, including but not limited to, the ability to implement business plans, forecasts, and other expectations, the ability to convert design wins into definitive orders and the magnitude of such orders, the ability to achieve broader market adoption of Innoviz's products and solutions, the ability to maintain and scale initial deployments into long-term commercial relationships, the ability of preliminary arrangements, including evaluation engagements and letters of intent, to result in definitive supply, development, or commercial agreements on expected terms and volumes, the ability to identify and realize additional opportunities, potential changes and developments in the highly competitive LiDAR technology and related industries, and our expectations regarding the impact of geopolitical developments in the Middle East including the evolving conflict in Israel on our ongoing operations. The foregoing list is not exhaustive. You should carefully consider such risk and the other risks and uncertainties described in Innoviz's annual report on Form 20-F for the year ended December 31, 2025, filed with the U.S. Securities and Exchange Commission ("SEC") on March 4, 2026, and in other documents filed by Innoviz from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. There can be no assurances as to the number of Innoviz LiDARs, if any, that will be incorporated into vehicles deployed in connection with the project referenced in this announcement, or as to the volumes, timing, or commercial terms of any related order, all of which depend on Mobileye's deployment plans and commercial decisions. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and Innoviz assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Innoviz gives no assurance that it will achieve its expectations.Logo - https://mma.prnewswire.com/media/1496323/6008985/Innoviz_Technologies_Logo.jpgMedia Contact
Media@innoviz-tech.comInvestor Contact
Investors@innoviz-tech.com View original content to download multimedia:https://www.prnewswire.com/news-releases/innoviz-technologies-proud-to-enable-mobileye-drive-as-mobileye-announces-vertically-integrated-robotaxi-business-302806269.htmlSOURCE Innoviz Technologies Original: Innoviz Technologies Proud to Enable Mobileye Drive™ as Mobileye Announces Vertically Integrated Robotaxi Business
iHub News
1月前
Jefferies Warns Mobileye Shares Could Fall 24% on Structural Challenges (MBLY)May 18, 2026 10:11 AM
IH Market News Jefferies Starts Coverage With Underperform Rating Mobileye Global (NASDAQ:MBLY) faces potential downside risks tied to structural industry challenges and customer concentration, according to Jefferies, which initiated coverage on the stock with an “underperform” rating and an $8 price target.The target implies roughly 24% downside from the stock’s previous closing price of $10.53.Jefferies based its valuation on a sum-of-the-parts methodology using a blended 2027 enterprise value-to-sales multiple of 1.9x across Mobileye’s business segments.That analysis resulted in an estimated equity valuation of approximately $6.51 billion, or $8 per share, based on 816 million shares outstanding.The valuation also incorporated net cash of around $1.59 billion, while the implied price-to-earnings ratio at the target price stands at 21.2x.“We see risk as skewed to the downside given structural threats and key customer dependence,” Jefferies said, adding that “the stock’s re-rating ultimately depends on a small number of highly uncertain outcomes.” Market Leadership Overshadowed by Long-Term Concerns Mobileye, which remains approximately 75% owned by Intel, currently controls an estimated 70% share of the global advanced driver assistance systems market.However, the company’s stock has fallen around 75% over the past three years, while its enterprise value-to-EBIT multiple has compressed closer to traditional automotive supplier levels after previously trading more like a high-growth technology company, according to FactSet data cited by Jefferies. Revenue and Margin Forecasts Remain Positive Jefferies projects Mobileye revenue of $1.98 billion in 2026, representing growth of 2.8%.The brokerage expects sales to rise to $2.24 billion in 2027 and $2.86 billion in 2028, implying growth rates of 15.2% and 29.2%, respectively.Adjusted EBIT margins are forecast at 10.4% in 2026, 13.7% in 2027 and 19.2% in 2028.For fiscal 2025, Mobileye reported revenue of $1.89 billion, adjusted EBIT of $280 million and an adjusted EBIT margin of 14.8%.Relative to consensus estimates, Jefferies said its 2026 and 2027 projections are broadly aligned with market expectations, although its 2028 adjusted EBIT estimate of $550 million is roughly 10% below the $609 million consensus figure.The firm forecasts adjusted EPS of $0.27 in 2026, $0.38 in 2027 and $0.63 in 2028. Robotics Acquisition and Buyback Included in Forecasts Jefferies expects Mobileye’s net cash position to increase from $1.84 billion at the end of 2025 to $2.16 billion by 2028, despite projecting a temporary decline in 2027 linked to acquisition spending.The brokerage incorporated a $591 million acquisition-related cash outflow in 2026 associated with Mobileye’s planned $900 million purchase of humanoid robotics company Mentee Robotics, consisting of $612 million in cash and the remainder in shares.Its model also assumes a $250 million share repurchase program in 2026. Jefferies Highlights Three Key Risks Jefferies identified three major structural concerns weighing on the investment case.First, the bank argued that expected growth from higher-autonomy products, including Surround ADAS and SuperVision, is already reflected in market expectations and depends heavily on the Volkswagen Group, which has expressed ambitions to develop autonomous driving capabilities internally.Second, Jefferies said the planned VW/MOIA robotaxi rollout could act as a short-term catalyst but carries uncertain long-term economics.Its base-case forecast assumes 1,000 active robotaxi vehicles in 2027, increasing to 13,000 by 2029, generating estimated revenue of $84 million and $530 million, respectively.However, the firm questioned whether Mobileye’s pricing structure — including a $40,000 upfront fee and $0.20 per mile charge — can scale successfully.Third, Jefferies warned that competing end-to-end artificial intelligence systems from rivals such as Wayve could challenge Mobileye’s map-based modular architecture. Bull and Bear Case Scenarios Jefferies’ upside scenario values the stock at $14.80, assuming revenue exceeds base forecasts by 15%, adjusted EBIT margins reach 15% in 2027, and the stock trades at a 3.5x EV/sales multiple.Its downside scenario implies a share price of $5.80, based on revenue coming in 15% below expectations, a 10% EBIT margin and a 1.5x EV/sales multiple.Mobileye Global stock price Original: Jefferies Warns Mobileye Shares Could Fall 24% on Structural Challenges (MBLY)
US Market News
2月前
Mobileye Releases First Quarter 2026 Results, Updates Full-Year Outlook, and Announces a $250 Million Share Repurchase ProgramApril 23, 2026 6:58 PM
Business Wire
Revenue of $558 million in the first quarter increased 27% year over year compared to Q1 2025. We are raising the midpoint of our full-year 2026 revenue guidance by 2% to reflect better-than-expected demand in the first quarter.
Diluted EPS (GAAP) was $(4.68) and Adjusted Diluted EPS (Non-GAAP) was $0.12 in the first quarter.
GAAP Operating Loss was impacted by a non-cash goodwill impairment of $3,788 million related to the goodwill asset on Mobileye’s balance sheet resulting from Intel’s acquisition of Mobileye in 2017.
Generated $75 million of operating cash flow in the first quarter of 2026. The acquisition of Mentee Robotics Ltd. (“Mentee Robotics”) closed in early February, resulting in a reduction in our cash balance of $591 million, net of cash acquired.
Announced an up to $250 million share repurchase authorization, intended to partially offset dilution associated with stock-based compensation and shares issued as part of the Mentee Robotics acquisition in the first quarter.
Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today released its financial results for the three months ended March 28, 2026.
“First quarter results reflected a stronger than expected start to 2026, and continued favorable demand trends enable us to modestly increase our 2026 outlook. We also secured an important design win with Mahindra which adds a third Surround ADAS customer and a second customer for our next-generation SuperVision product,” said Mobileye President and CEO Professor Amnon Shashua. “In parallel, we achieved significant milestones related to our robotaxi technology stack and our EyeQ6H-based Supervision L2++ and Chauffer L3 programs with VW group. Continued execution across these programs is key both to converting our advanced product pipeline into future revenue growth and to winning additional customers.”
First Quarter 2026 Business Highlights
The Mobileye Drive / MOIA / VW ID.Buzz robotaxi ecosystem progressed significantly during the first quarter. VW and MOIA announced the kick off of pre-series production at VW’s Hanover plant in March. MOIA America and Beep announced Orlando as their initial test deployment location, and began on-road validation testing with Uber in Los Angeles. There are now more than 100 ID.Buzz AVs powered by Drive testing on public roads in six cities (LA, Austin, Orlando, Munich, Berlin, and Hamburg), with Oslo coming soon. We believe Mobileye Drive technology has meaningful scaling advantages over the competition and look forward to continued strong execution over the course of 2026.
For the first time, EyeQ6 High-based SuperVision is operating in the US inside pre-production vehicles. An extended 2,000+ kilometer drive, on an unplanned route, achieved targeted mean-time-between-failure goals in urban, suburban, and highway road types, as well as severe weather, and outperformed other systems used as benchmarks.
We announced SuperVision and Surround ADAS design wins with Mahindra. We continue to see significant potential for growth in the India market for both ADAS and AV, and are encouraged that Mahindra believes that advanced mobility products based on Mobileye solutions can serve as competitive differentiators in the mid-trim and premium vehicle segments.
First Quarter 2026 Financial Summary and Key Highlights (Unaudited)
GAAP
U.S. dollars in millions
Q1 2026
Q1 2025
% Y/Y
Revenue
$
558
$
438
27
%
Gross Profit
$
275
$
207
33
%
Gross Margin
49
%
47
%
+202bps
Operating Income (Loss)
$
(3,896
)
$
(117
)
*NM
Operating Margin
(698
)%
(27
)%
*NM
Net Income (Loss)
$
(3,818
)
$
(102
)
*NM
EPS - Basic
$
(4.68
)
$
(0.13
)
*NM
EPS - Diluted
$
(4.68
)
$
(0.13
)
*NM
*Not Meaningful
Non-GAAP
U.S. dollars in millions
Q1 2026
Q1 2025
% Y/Y
Revenue
$
558
$
438
27
%
Adjusted Gross Profit
$
370
$
301
23
%
Adjusted Gross Margin
66
%
69
%
(241)bps
Adjusted Operating Income (Loss)
$
95
$
59
61
%
Adjusted Operating Margin
17
%
13
%
+360bps
Adjusted Net Income (Loss)
$
96
$
63
52
%
Adjusted EPS - Basic
$
0.12
$
0.08
51
%
Adjusted EPS - Diluted
$
0.12
$
0.08
51
%
Revenue increased 27% compared to the first quarter of 2025, primarily due to a 28% ramp up in EyeQ SoC volumes attributable to higher EyeQ demand. A portion of this growth was related to the normalization of safety stock levels at customers, after some draw down that took place in the fourth quarter of 2025.
Gross Margin increased by nearly 2 percentage points in the first quarter of 2026 as compared to the prior year period. The increase was primarily due to similar levels of amortization of intangible assets on a significantly higher revenue base, partially offset by a higher EyeQ-related cost per unit given the different mix of EyeQ products sold.
Adjusted Gross Margin decreased by nearly 2 percentage points in the first quarter of 2026 as compared to the prior year period. This was mainly due to a higher EyeQ-related cost per unit given the different mix of EyeQ products sold.
An additional item that is part of this quarter’s reconciliation of GAAP to Non-GAAP earnings is a non-cash impairment loss related to the Goodwill asset on our balance sheet. This asset originally resulted from the Intel acquisition of Mobileye in 2017 and was pushed down to our balance sheet in connection with the IPO in 2022 and separation from Intel. During the quarter, due to a decline in our market capitalization since the most recent assessment date, as well as increased uncertainty in the macroeconomic and geopolitical environment, an interim impairment test was triggered. The resulting analysis led to an approximately $3,788 million write-down of goodwill. For more information, see our Quarterly Report on Form 10-Q for the period ended March 28, 2026.
Operating Margin decreased meaningfully in the first quarter of 2026 as compared to the prior year period. This was primarily due to goodwill impairment loss of $3,788 million recognized in the first quarter of 2026.
Adjusted Operating Margin increased to 17% in the first quarter of 2026 as compared to 13% in the prior year period. This is related to significantly higher year-over-year revenue which resulted in lower operating expenses as a percentage of revenue.
Operating cash flow for the three months ended March 28, 2026 was $75 million, including transaction costs and cash paid for accelerated options as part of the Mentee Robotics acquisition. Cash used in purchases of property and equipment was $30 million for that same period.
Financial Guidance for the 2026 Fiscal Year
The following information reflects Mobileye’s expectations for Revenue, Operating Loss and Adjusted Operating Income results for the full year 2026. Our updated guidance reflects a 2% increase in expected revenue, at the midpoint, due to higher-than-expected EyeQ unit shipments in the first quarter. Our outlook for Adjusted Operating Income is increased by 8% at the midpoint, reflecting operating leverage on the higher revenue outlook. We are providing a 2026 outlook for Operating Loss now that the Mentee Robotics acquisition has closed. At the time of our Q4 2025 earnings release, prior to closing of the Mentee Robotics acquisition, our outlook for stock-based compensation and amortization of intangible assets was not able to be estimated with precision.
We believe Adjusted Operating Income (a non-GAAP metric) is an appropriate metric as it excludes significant non-cash expenses including: 1) Amortization charges related to intangible assets consisting of developed technology, customer relationships and brands, and developed IP as a result of Intel’s acquisition of Mobileye in 2017 and the acquisition of Mentee Robotics in 2026; 2) Share-based compensation expense; 3) Goodwill impairment; and 4) acquisition-related expenses. These statements represent forward-looking information and may not represent a financial outlook, and actual results may vary. Please see the risks and assumptions referred to in the Forward-Looking Statements section of this release.
Full Year 2026
U.S. dollars in millions
Low
High
Revenue
$
1,935
$
2,015
Operating Loss
$
(4,331
)
$
(4,281
)
Amortization of acquired intangible assets
$
346
$
346
Share-based compensation expense
$
376
$
376
Goodwill impairment
$
3,788
$
3,788
Acquisition related expenses
$
6
$
6
Adjusted Operating Income
$
185
$
235
Earnings Conference Call Webcast Information
Mobileye will host a conference call today, April 23, 2026, at 8:00 am ET (3:00pm IT) to review its results and provide a general business update. The conference call will be accessible live via a webcast on Mobileye’s investor relations site, which can be found at ir.mobileye.com, and a replay of the webcast will be made available shortly after the event’s conclusion.
Non-GAAP Financial Measures
This press release contains Adjusted Gross Profit and Margin, Adjusted Operating Income and Margin, Adjusted Net Income and Adjusted EPS, which are financial measures not presented in accordance with GAAP. We define Adjusted Gross Profit as gross profit presented in accordance with GAAP, excluding amortization of acquisition related intangibles and share-based compensation expense. Adjusted Gross Margin is calculated as Adjusted Gross Profit divided by total revenue. We define Adjusted Operating Income (Loss) as operating loss presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation expenses, impairment of goodwill and acquisition-related expenses. Operating margin is calculated as Operating Income (Loss) divided by total revenue, and Adjusted Operating Margin is calculated as Adjusted Operating Income divided by total revenue. We define Adjusted Net Income as net loss presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation expense, impairment of goodwill, acquisition-related expenses and the related income tax effects. Income tax effects have been calculated using the applicable statutory tax rate for each adjustment taking into consideration the associated valuation allowance impacts. The adjustment for income tax effects consists primarily of the deferred tax impact of the amortization of acquired intangible assets. Adjusted Basic EPS is calculated by dividing Adjusted Net Income for the period by the weighted-average number of common shares outstanding during the period. Adjusted Diluted EPS is calculated by dividing Adjusted Net Income (Loss) by the weighted-average number of common shares outstanding during the period, while giving effect to all potentially dilutive common shares to the extent they are dilutive.
We use such non-GAAP financial measures to make strategic decisions, establish business plans and forecasts, identify trends affecting our business, and evaluate performance. For example, we use these non-GAAP financial measures to assess our pricing and sourcing strategy, in the preparation of our annual operating budget, and as a measure of our operating performance. We believe that these non-GAAP financial measures, when taken collectively, may be helpful to investors because they allow for greater transparency into what measures our management uses in operating our business and measuring our performance, and enable comparison of financial trends and results between periods where items may vary independent of business performance. The non-GAAP financial measures are presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure presented in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.
About Mobileye Global Inc.
Mobileye (Nasdaq: MBLY) leads the mobility revolution with our autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in artificial intelligence, computer vision and integrated software and hardware. Since our founding in 1999, Mobileye has enabled the global adoption of advanced driver-assistance systems that save countless lives and reduce crashes, while pioneering groundbreaking technologies such as REM™ crowdsourced road intelligence, Imaging Radar and Compound AI. These technologies drive the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions at scale, and powering industry-leading ADAS products. Through 2025, more than 230 million vehicles worldwide have been built with Mobileye’s EyeQ technology inside. In 2026, Mobileye acquired Mentee Robotics to pursue the future of physical AI and humanoid robots. Since 2022, Mobileye has been listed independently from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.
“Mobileye,” the Mobileye logo and Mobileye product names are registered trademarks of Mobileye Global. All other marks are the property of their respective owners.
Forward-Looking Statements
Mobileye’s business outlook, guidance and other statements in this release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including Mobileye’s 2026 full-year guidance, projected future revenue and descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast,” or the negative of these terms, and other similar expressions, although not all forward-looking statements contain these words. We base these forward-looking statements or projections, including Mobileye’s full-year guidance, on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances and at such time. You should understand that these statements are not guarantees of performance or results. The forward-looking statements and projections are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections. Although we believe that these forward-looking statements and projections are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those expressed in the forward-looking statements and projections.
Important factors that may materially affect such forward-looking statements and projections include the following: further deterioration of macroeconomic conditions due to ongoing global economic and political uncertainty; future business, strategic and financial performance, goals and measures; our anticipated growth prospects and trends in markets and industries relevant to our business; business and investment plans; expectations about our ability to maintain or enhance our leadership position in the markets in which we participate; future consumer demand and behavior, including expectations about excess inventory utilization by customers; our ability to effectively compete in the markets in which we operate; increased competition from emerging chip manufacturers and OEMs; future products and technology, and the expected availability and benefits of such products and technology; the humanoid robotics industry and its accompanying technology may not develop as expected; development of regulatory frameworks for current and future technology; changes in regulation and trade policy, including increased tariffs, in regions in which we operate, including the U.S., Europe and China; projected cost and pricing trends; future production capacity and product supply; potential future benefits and competitive advantages associated with our technologies and architecture and the data we have accumulated; the future purchase, use and availability of products, components and services supplied by third parties, including third-party IP and manufacturing services; uncertain events or assumptions, including statements relating to our estimated vehicle production and market opportunity, potential production volumes associated with design wins and other characterizations of future events or circumstances; adverse conditions in Israel, including as a result of war and geopolitical conflict, which may affect our operations and may limit our ability to produce and sell our solutions; any disruption in our operations by the obligations of our personnel to perform military service as a result of current or future military actions involving Israel; availability, uses, sufficiency and cost of capital and capital resources, including expected returns to stockholders such as dividends, and the expected timing of future dividends; tax- and accounting-related expectations; sustained low levels of our share price and market capitalization as well as other factors may require further testing of our Mobileye reporting unit, which may result in an impairment of goodwill; the ability to meet our social and environmental goals and projections.
The estimates included herein are based on projections of future production volumes that were provided by our current and prospective OEMs at the time of sourcing the design wins for the models related to those design wins. For the purpose of these estimates, we estimated sales prices based on our management’s estimates for the applicable product bundles and periods. Achieving design wins is not a guarantee of revenue, and our sales may not correlate with the achievement of additional design wins. Moreover, our pricing estimates are made at the time of a request for quotation by an OEM (in the case of estimates related to contracted customers), so that worsening market or other conditions between the time of a request for quotation and an order for our solutions may require us to sell our solutions for a lower price than we initial expected. These estimates may deviate from actual production volumes and sale prices (which may be higher or lower than the estimates) and the amounts included for prospective but uncontracted production volumes may never be achieved. Accordingly, these estimations are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections.
Detailed information regarding these and other factors that could affect Mobileye’s business and results is included in Mobileye’s SEC filings, including the company’s Annual Report on Form 10-K for the year ended December 27, 2025, particularly in the section entitled “Item 1A. Risk Factors”. Copies of these filings may be obtained by visiting our Investor Relations website at ir.mobileye.com or the SEC’s website at www.sec.gov.
First Quarter 2026 Financial Results
Mobileye Global Inc.
Condensed Consolidated Statements of Operations (unaudited)
Three Months Ended
U.S. dollars in millions, except share and per share amounts
March 28, 2026
March 29, 2025
Revenue
$
558
$
438
Cost of revenue
283
231
Gross profit
275
207
Research and development, net
323
275
Sales and marketing
29
31
General and administrative
31
18
Goodwill impairment
3,788
—
Total operating expenses
4,171
324
Operating income (loss)
(3,896
)
(117
)
Financial income (expense), net
14
18
Income (loss) before income taxes
(3,882
)
(99
)
Benefit (provision) for income taxes
64
(3
)
Net income (loss)
$
(3,818
)
$
(102
)
Earnings (loss) per share attributed to Class A and Class B stockholders:
Basic and diluted
$
(4.68
)
$
(0.13
)
Weighted-average number of shares used in computation of earnings (loss) per share attributed to Class A and Class B stockholders (in millions):
Basic and diluted
817
812
Mobileye Global Inc.
Condensed Consolidated Balance sheets (unaudited)
U.S. dollars in millions
March 28, 2026
December 27, 2025
Assets
Current assets:
Cash and cash equivalents
$
1,211
$
1,836
Marketable securities and deposits
133
55
Trade accounts receivable, net
226
131
Inventories
303
327
Other current assets
120
129
Total current assets
1,993
2,478
Non-current assets:
Property and equipment, net
468
473
Intangible assets, net
1,181
1,166
Goodwill
4,911
8,200
Other long-term assets
182
175
Total non-current assets
6,742
10,014
TOTAL ASSETS
$
8,735
$
12,492
Liabilities and Equity
Current liabilities:
Accounts payable and accrued expenses
$
228
$
228
Employee related accrued expenses
137
141
Related party payable
3
4
Other current liabilities
51
33
Total current liabilities
419
406
Non-current liabilities:
Long-term employee benefits
78
78
Deferred tax liabilities
5
60
Other long-term liabilities
69
67
Total non-current liabilities
152
205
TOTAL LIABILITIES
$
571
$
611
TOTAL EQUITY
8,164
11,881
TOTAL LIABILITIES AND EQUITY
$
8,735
$
12,492
Mobileye Global Inc.
Condensed Consolidated Cash Flows (unaudited)
Three Months Ended
U.S. dollars in millions
March 28, 2026
March 29, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)
$
(3,818
)
$
(102
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation of property and equipment
20
18
Share-based compensation
80
65
Amortization of intangible assets
113
111
Goodwill impairment
3,788
—
Exchange rate differences on cash and cash equivalents
(2
)
(2
)
Deferred income taxes
(72
)
(6
)
Changes in operating assets and liabilities:
Decrease (increase) in trade accounts receivable
(95
)
(5
)
Decrease (increase) in other current assets
8
15
Decrease (increase) in inventories
24
51
Decrease (increase) in other long-term assets
—
3
Increase (decrease) in accounts payable, accrued expenses and related party payable
14
(36
)
Increase (decrease) in employee-related accrued expenses and long-term benefits
(5
)
—
Increase (decrease) in other current liabilities
18
(5
)
Increase (decrease) in other long-term liabilities
2
2
Net cash provided by operating activities
75
109
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment
(30
)
(14
)
Purchases of debt and equity investments
(125
)
(25
)
Maturities and sales of debt and equity investments
47
14
Cash paid for acquisition of Mentee Robotics, net of cash acquired
(591
)
—
Net cash used in investing activities
(699
)
(25
)
CASH FLOWS FROM FINANCING ACTIVITIES
Share-based compensation recharge
*
3
Net cash provided by financing activities
—
3
Effect of foreign exchange rate changes on cash and cash equivalents
2
2
Increase (decrease) in cash, cash equivalents and restricted cash
(622
)
89
Balance of cash, cash equivalents and restricted cash, at beginning of year
1,860
1,438
Balance of cash, cash equivalents and restricted cash, at end of period
$
1,238
$
1,527
* Less than $1 million.
Mobileye Global Inc.
Reconciliation of GAAP Gross Profit and Margin to Non-GAAP Adjusted Gross Profit and Margin1 (unaudited)
Three Months Ended
U.S. dollars in millions
March 28, 2026
March 29, 2025
Amount
% of Revenue
Amount
% of Revenue
Gross Profit and Margin
$
275
49
%
$
207
47
%
Add: Amortization of acquired intangible assets
95
17
%
94
21
%
Add: Share-based compensation expense
—
—
%
—
—
%
Adjusted Gross Profit and Margin
$
370
66
%
$
301
69
%
1Adjusted gross margin is calculated as adjusted gross profit as a percentage of revenue
Mobileye Global Inc.
Reconciliation of GAAP Operating Income and Margin to Non-GAAP Adjusted Operating Income and Margin2 (unaudited)
Three Months Ended
U.S. dollars in millions
March 28, 2026
March 29, 2025
Amount
% of Revenue
Amount
% of Revenue
Operating Income (Loss) and Margin
$
(3,896
)
(698
)%
$
(117
)
(27
)%
Add: Amortization of acquired intangible assets
113
20
%
111
25
%
Add: Share-based compensation expense
84
15
%
65
15
%
Add: Acquisition related expenses
6
1
%
—
—
%
Add: Goodwill impairment
3,788
679
%
—
—
%
Adjusted Operating Income (Loss) and Margin
$
95
17
%
$
59
13
%
2Adjusted operating margin is calculated as adjusted operating income (loss) as a percentage of revenue
Mobileye Global Inc.
Reconciliation of GAAP Net Income to Non-GAAP Adjusted Net Income (unaudited)
Three Months Ended
U.S. dollars in millions
March 28, 2026
March 29, 2025
Amount
% of Revenue
Amount
% of Revenue
Net Income (Loss)
$
(3,818
)
(684
)%
$
(102
)
(23
)%
Add: Amortization of acquired intangible assets
113
20
%
111
25
%
Add: Share-based compensation expense
84
15
%
65
15
%
Add: Acquisition related expenses
6
1
%
—
—
%
Add: Goodwill impairment
3,788
679
%
—
—
%
Less: Income tax effects
(77
)
(14
)%
(11
)
(3
)%
Adjusted Net Income (Loss)
$
96
17
%
$
63
14
%
Supplemental Information - Average System Price (unaudited)3
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
EyeQ and SuperVision revenue (U.S. dollars in millions)
$
415
$
481
$
478
$
420
$
535
Number of systems shipped (in millions)
8.5
9.7
9.2
8.3
10.8
Average system price (U.S. dollars)
$
49.0
$
49.7
$
51.7
$
50.8
$
49.3
3 Average System Price is calculated as the sum of revenue related to EyeQ™ and SuperVision systems, divided by the number of systems shipped.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260423384609/en/
Dan Galves
Investor Relations
investors@mobileye.com
Justin Hyde
Media Relations
justin.hyde@mobileye.com
Original: Mobileye Releases First Quarter 2026 Results, Updates Full-Year Outlook, and Announces a $250 Million Share Repurchase Program
US Market News
2月前
Mobileye Releases First Quarter 2026 Results, Updates Full-Year Outlook, and Announces a $250 Million Share Repurchase ProgramApril 23, 2026 7:15 AM
Business Wire
Revenue of $558 million in the first quarter increased 27% year over year compared to Q1 2025. We are raising the midpoint of our full-year 2026 revenue guidance by 2% to reflect better-than-expected demand in the first quarter.
Diluted EPS (GAAP) was $(4.68) and Adjusted Diluted EPS (Non-GAAP) was $0.12 in the first quarter.
GAAP Operating Loss was impacted by a non-cash goodwill impairment of $3,788 million related to the goodwill asset on Mobileye’s balance sheet resulting from Intel’s acquisition of Mobileye in 2017.
Generated $75 million of operating cash flow in the first quarter of 2026. The acquisition of Mentee Robotics Ltd. (“Mentee Robotics”) closed in early February, resulting in a reduction in our cash balance of $591 million, net of cash acquired.
Announced an up to $250 million share repurchase authorization, intended to partially offset dilution associated with stock-based compensation and shares issued as part of the Mentee Robotics acquisition in the first quarter.
Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today released its financial results for the three months ended March 28, 2026.
“First quarter results reflected a stronger than expected start to 2026, and continued favorable demand trends enable us to modestly increase our 2026 outlook. We also secured an important design win with Mahindra which adds a third Surround ADAS customer and a second customer for our next-generation SuperVision product,” said Mobileye President and CEO Professor Amnon Shashua. “In parallel, we achieved significant milestones related to our robotaxi technology stack and our EyeQ6H-based Supervision L2++ and Chauffer L3 programs with VW group. Continued execution across these programs is key both to converting our advanced product pipeline into future revenue growth and to winning additional customers.”
First Quarter 2026 Business Highlights
The Mobileye Drive / MOIA / VW ID.Buzz robotaxi ecosystem progressed significantly during the first quarter. VW and MOIA announced the kick off of pre-series production at VW’s Hanover plant in March. MOIA announced Orlando as its initial driverless launch location (in collaboration with Beep) and began on-road validation testing with Uber in Los Angeles. There are now more than 100 ID.Buzz AVs powered by Drive testing on public roads in six cities (LA, Austin, Orlando, Munich, Berlin, and Hamburg), with Oslo coming soon. We believe Mobileye Drive technology has meaningful scaling advantages over the competition and look forward to continued strong execution over the course of 2026.
For the first time, EyeQ6 High-based SuperVision is operating in the US inside pre-production vehicles. An extended 2,000+ kilometer drive, on an unplanned route, achieved targeted mean-time-between-failure goals in urban, suburban, and highway road types, as well as severe weather, and outperformed other systems used as benchmarks.
We announced SuperVision and Surround ADAS design wins with Mahindra. We continue to see significant potential for growth in the India market for both ADAS and AV, and are encouraged that Mahindra believes that advanced mobility products based on Mobileye solutions can serve as competitive differentiators in the mid-trim and premium vehicle segments.
First Quarter 2026 Financial Summary and Key Highlights (Unaudited)
GAAP
U.S. dollars in millions
Q1 2026
Q1 2025
% Y/Y
Revenue
$
558
$
438
27
%
Gross Profit
$
275
$
207
33
%
Gross Margin
49
%
47
%
+202bps
Operating Income (Loss)
$
(3,896
)
$
(117
)
*NM
Operating Margin
(698
)%
(27
)%
*NM
Net Income (Loss)
$
(3,818
)
$
(102
)
*NM
EPS - Basic
$
(4.68
)
$
(0.13
)
*NM
EPS - Diluted
$
(4.68
)
$
(0.13
)
*NM
*Not Meaningful
Non-GAAP
U.S. dollars in millions
Q1 2026
Q1 2025
% Y/Y
Revenue
$
558
$
438
27
%
Adjusted Gross Profit
$
370
$
301
23
%
Adjusted Gross Margin
66
%
69
%
(241)bps
Adjusted Operating Income (Loss)
$
95
$
59
61
%
Adjusted Operating Margin
17
%
13
%
+360bps
Adjusted Net Income (Loss)
$
96
$
63
52
%
Adjusted EPS - Basic
$
0.12
$
0.08
51
%
Adjusted EPS - Diluted
$
0.12
$
0.08
51
%
Revenue increased 27% compared to the first quarter of 2025, primarily due to a 28% ramp up in EyeQ SoC volumes attributable to higher EyeQ demand. A portion of this growth was related to the normalization of safety stock levels at customers, after some draw down that took place in the fourth quarter of 2025.
Gross Margin increased by nearly 2 percentage points in the first quarter of 2026 as compared to the prior year period. The increase was primarily due to similar levels of amortization of intangible assets on a significantly higher revenue base, partially offset by a higher EyeQ-related cost per unit given the different mix of EyeQ products sold.
Adjusted Gross Margin decreased by nearly 2 percentage points in the first quarter of 2026 as compared to the prior year period. This was mainly due to a higher EyeQ-related cost per unit given the different mix of EyeQ products sold.
An additional item that is part of this quarter’s reconciliation of GAAP to Non-GAAP earnings is a non-cash impairment loss related to the Goodwill asset on our balance sheet. This asset originally resulted from the Intel acquisition of Mobileye in 2017 and was pushed down to our balance sheet in connection with the IPO in 2022 and separation from Intel. During the quarter, due to a decline in our market capitalization since the most recent assessment date, as well as increased uncertainty in the macroeconomic and geopolitical environment, an interim impairment test was triggered. The resulting analysis led to an approximately $3,788 million write-down of goodwill. For more information, see our Quarterly Report on Form 10-Q for the period ended March 28, 2026.
Operating Margin decreased meaningfully in the first quarter of 2026 as compared to the prior year period. This was primarily due to goodwill impairment loss of $3,788 million recognized in the first quarter of 2026.
Adjusted Operating Margin increased to 17% in the first quarter of 2026 as compared to 13% in the prior year period. This is related to significantly higher year-over-year revenue which resulted in lower operating expenses as a percentage of revenue.
Operating cash flow for the three months ended March 28, 2026 was $75 million, including transaction costs and cash paid for accelerated options as part of the Mentee Robotics acquisition. Cash used in purchases of property and equipment was $30 million for that same period.
Financial Guidance for the 2026 Fiscal Year
The following information reflects Mobileye’s expectations for Revenue, Operating Loss and Adjusted Operating Income results for the full year 2026. Our updated guidance reflects a 2% increase in expected revenue, at the midpoint, due to higher-than-expected EyeQ unit shipments in the first quarter. Our outlook for Adjusted Operating Income is increased by 8% at the midpoint, reflecting operating leverage on the higher revenue outlook. We are providing a 2026 outlook for Operating Loss now that the Mentee Robotics acquisition has closed. At the time of our Q4 2025 earnings release, prior to closing of the Mentee Robotics acquisition, our outlook for stock-based compensation and amortization of intangible assets was not able to be estimated with precision.
We believe Adjusted Operating Income (a non-GAAP metric) is an appropriate metric as it excludes significant non-cash expenses including: 1) Amortization charges related to intangible assets consisting of developed technology, customer relationships and brands, and developed IP as a result of Intel’s acquisition of Mobileye in 2017 and the acquisition of Mentee Robotics in 2026; 2) Share-based compensation expense; 3) Goodwill impairment; and 4) acquisition-related expenses. These statements represent forward-looking information and may not represent a financial outlook, and actual results may vary. Please see the risks and assumptions referred to in the Forward-Looking Statements section of this release.
Full Year 2026
U.S. dollars in millions
Low
High
Revenue
$
1,935
$
2,015
Operating Loss
$
(4,331
)
$
(4,281
)
Amortization of acquired intangible assets
$
346
$
346
Share-based compensation expense
$
376
$
376
Goodwill impairment
$
3,788
$
3,788
Acquisition related expenses
$
6
$
6
Adjusted Operating Income
$
185
$
235
Earnings Conference Call Webcast Information
Mobileye will host a conference call today, April 23, 2026, at 8:00 am ET (3:00pm IT) to review its results and provide a general business update. The conference call will be accessible live via a webcast on Mobileye’s investor relations site, which can be found at ir.mobileye.com, and a replay of the webcast will be made available shortly after the event’s conclusion.
Non-GAAP Financial Measures
This press release contains Adjusted Gross Profit and Margin, Adjusted Operating Income and Margin, Adjusted Net Income and Adjusted EPS, which are financial measures not presented in accordance with GAAP. We define Adjusted Gross Profit as gross profit presented in accordance with GAAP, excluding amortization of acquisition related intangibles and share-based compensation expense. Adjusted Gross Margin is calculated as Adjusted Gross Profit divided by total revenue. We define Adjusted Operating Income (Loss) as operating loss presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation expenses, impairment of goodwill and acquisition-related expenses. Operating margin is calculated as Operating Income (Loss) divided by total revenue, and Adjusted Operating Margin is calculated as Adjusted Operating Income divided by total revenue. We define Adjusted Net Income as net loss presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation expense, impairment of goodwill, acquisition-related expenses and the related income tax effects. Income tax effects have been calculated using the applicable statutory tax rate for each adjustment taking into consideration the associated valuation allowance impacts. The adjustment for income tax effects consists primarily of the deferred tax impact of the amortization of acquired intangible assets. Adjusted Basic EPS is calculated by dividing Adjusted Net Income for the period by the weighted-average number of common shares outstanding during the period. Adjusted Diluted EPS is calculated by dividing Adjusted Net Income (Loss) by the weighted-average number of common shares outstanding during the period, while giving effect to all potentially dilutive common shares to the extent they are dilutive.
We use such non-GAAP financial measures to make strategic decisions, establish business plans and forecasts, identify trends affecting our business, and evaluate performance. For example, we use these non-GAAP financial measures to assess our pricing and sourcing strategy, in the preparation of our annual operating budget, and as a measure of our operating performance. We believe that these non-GAAP financial measures, when taken collectively, may be helpful to investors because they allow for greater transparency into what measures our management uses in operating our business and measuring our performance, and enable comparison of financial trends and results between periods where items may vary independent of business performance. The non-GAAP financial measures are presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure presented in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.
About Mobileye Global Inc.
Mobileye (Nasdaq: MBLY) leads the mobility revolution with our autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in artificial intelligence, computer vision and integrated software and hardware. Since our founding in 1999, Mobileye has enabled the global adoption of advanced driver-assistance systems that save countless lives and reduce crashes, while pioneering groundbreaking technologies such as REM™ crowdsourced road intelligence, Imaging Radar and Compound AI. These technologies drive the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions at scale, and powering industry-leading ADAS products. Through 2025, more than 230 million vehicles worldwide have been built with Mobileye’s EyeQ technology inside. In 2026, Mobileye acquired Mentee Robotics to pursue the future of physical AI and humanoid robots. Since 2022, Mobileye has been listed independently from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.
“Mobileye,” the Mobileye logo and Mobileye product names are registered trademarks of Mobileye Global. All other marks are the property of their respective owners.
Forward-Looking Statements
Mobileye’s business outlook, guidance and other statements in this release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including Mobileye’s 2026 full-year guidance, projected future revenue and descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast,” or the negative of these terms, and other similar expressions, although not all forward-looking statements contain these words. We base these forward-looking statements or projections, including Mobileye’s full-year guidance, on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances and at such time. You should understand that these statements are not guarantees of performance or results. The forward-looking statements and projections are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections. Although we believe that these forward-looking statements and projections are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those expressed in the forward-looking statements and projections.
Important factors that may materially affect such forward-looking statements and projections include the following: further deterioration of macroeconomic conditions due to ongoing global economic and political uncertainty; future business, strategic and financial performance, goals and measures; our anticipated growth prospects and trends in markets and industries relevant to our business; business and investment plans; expectations about our ability to maintain or enhance our leadership position in the markets in which we participate; future consumer demand and behavior, including expectations about excess inventory utilization by customers; our ability to effectively compete in the markets in which we operate; increased competition from emerging chip manufacturers and OEMs; future products and technology, and the expected availability and benefits of such products and technology; the humanoid robotics industry and its accompanying technology may not develop as expected; development of regulatory frameworks for current and future technology; changes in regulation and trade policy, including increased tariffs, in regions in which we operate, including the U.S., Europe and China; projected cost and pricing trends; future production capacity and product supply; potential future benefits and competitive advantages associated with our technologies and architecture and the data we have accumulated; the future purchase, use and availability of products, components and services supplied by third parties, including third-party IP and manufacturing services; uncertain events or assumptions, including statements relating to our estimated vehicle production and market opportunity, potential production volumes associated with design wins and other characterizations of future events or circumstances; adverse conditions in Israel, including as a result of war and geopolitical conflict, which may affect our operations and may limit our ability to produce and sell our solutions; any disruption in our operations by the obligations of our personnel to perform military service as a result of current or future military actions involving Israel; availability, uses, sufficiency and cost of capital and capital resources, including expected returns to stockholders such as dividends, and the expected timing of future dividends; tax- and accounting-related expectations; sustained low levels of our share price and market capitalization as well as other factors may require further testing of our Mobileye reporting unit, which may result in an impairment of goodwill; the ability to meet our social and environmental goals and projections.
The estimates included herein are based on projections of future production volumes that were provided by our current and prospective OEMs at the time of sourcing the design wins for the models related to those design wins. For the purpose of these estimates, we estimated sales prices based on our management’s estimates for the applicable product bundles and periods. Achieving design wins is not a guarantee of revenue, and our sales may not correlate with the achievement of additional design wins. Moreover, our pricing estimates are made at the time of a request for quotation by an OEM (in the case of estimates related to contracted customers), so that worsening market or other conditions between the time of a request for quotation and an order for our solutions may require us to sell our solutions for a lower price than we initial expected. These estimates may deviate from actual production volumes and sale prices (which may be higher or lower than the estimates) and the amounts included for prospective but uncontracted production volumes may never be achieved. Accordingly, these estimations are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections.
Detailed information regarding these and other factors that could affect Mobileye’s business and results is included in Mobileye’s SEC filings, including the company’s Annual Report on Form 10-K for the year ended December 27, 2025, particularly in the section entitled “Item 1A. Risk Factors”. Copies of these filings may be obtained by visiting our Investor Relations website at ir.mobileye.com or the SEC’s website at www.sec.gov.
First Quarter 2026 Financial Results
Mobileye Global Inc.
Condensed Consolidated Statements of Operations (unaudited)
Three Months Ended
U.S. dollars in millions, except share and per share amounts
March 28, 2026
March 29, 2025
Revenue
$
558
$
438
Cost of revenue
283
231
Gross profit
275
207
Research and development, net
323
275
Sales and marketing
29
31
General and administrative
31
18
Goodwill impairment
3,788
—
Total operating expenses
4,171
324
Operating income (loss)
(3,896
)
(117
)
Financial income (expense), net
14
18
Income (loss) before income taxes
(3,882
)
(99
)
Benefit (provision) for income taxes
64
(3
)
Net income (loss)
$
(3,818
)
$
(102
)
Earnings (loss) per share attributed to Class A and Class B stockholders:
Basic and diluted
$
(4.68
)
$
(0.13
)
Weighted-average number of shares used in computation of earnings (loss) per share attributed to Class A and Class B stockholders (in millions):
Basic and diluted
817
812
Mobileye Global Inc.
Condensed Consolidated Balance sheets (unaudited)
U.S. dollars in millions
March 28, 2026
December 27, 2025
Assets
Current assets:
Cash and cash equivalents
$
1,211
$
1,836
Marketable securities and deposits
133
55
Trade accounts receivable, net
226
131
Inventories
303
327
Other current assets
120
129
Total current assets
1,993
2,478
Non-current assets:
Property and equipment, net
468
473
Intangible assets, net
1,181
1,166
Goodwill
4,911
8,200
Other long-term assets
182
175
Total non-current assets
6,742
10,014
TOTAL ASSETS
$
8,735
$
12,492
Liabilities and Equity
Current liabilities:
Accounts payable and accrued expenses
$
228
$
228
Employee related accrued expenses
137
141
Related party payable
3
4
Other current liabilities
51
33
Total current liabilities
419
406
Non-current liabilities:
Long-term employee benefits
78
78
Deferred tax liabilities
5
60
Other long-term liabilities
69
67
Total non-current liabilities
152
205
TOTAL LIABILITIES
$
571
$
611
TOTAL EQUITY
8,164
11,881
TOTAL LIABILITIES AND EQUITY
$
8,735
$
12,492
Mobileye Global Inc.
Condensed Consolidated Cash Flows (unaudited)
Three Months Ended
U.S. dollars in millions
March 28, 2026
March 29, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)
$
(3,818
)
$
(102
)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation of property and equipment
20
18
Share-based compensation
80
65
Amortization of intangible assets
113
111
Goodwill impairment
3,788
—
Exchange rate differences on cash and cash equivalents
(2
)
(2
)
Deferred income taxes
(72
)
(6
)
Changes in operating assets and liabilities:
Decrease (increase) in trade accounts receivable
(95
)
(5
)
Decrease (increase) in other current assets
8
15
Decrease (increase) in inventories
24
51
Decrease (increase) in other long-term assets
—
3
Increase (decrease) in accounts payable, accrued expenses and related party payable
14
(36
)
Increase (decrease) in employee-related accrued expenses and long-term benefits
(5
)
—
Increase (decrease) in other current liabilities
18
(5
)
Increase (decrease) in other long-term liabilities
2
2
Net cash provided by operating activities
75
109
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment
(30
)
(14
)
Purchases of debt and equity investments
(125
)
(25
)
Maturities and sales of debt and equity investments
47
14
Cash paid for acquisition of Mentee Robotics, net of cash acquired
(591
)
—
Net cash used in investing activities
(699
)
(25
)
CASH FLOWS FROM FINANCING ACTIVITIES
Share-based compensation recharge
*
3
Net cash provided by financing activities
—
3
Effect of foreign exchange rate changes on cash and cash equivalents
2
2
Increase (decrease) in cash, cash equivalents and restricted cash
(622
)
89
Balance of cash, cash equivalents and restricted cash, at beginning of year
1,860
1,438
Balance of cash, cash equivalents and restricted cash, at end of period
$
1,238
$
1,527
* Less than $1 million.
Mobileye Global Inc.
Reconciliation of GAAP Gross Profit and Margin to Non-GAAP Adjusted Gross Profit and Margin1 (unaudited)
Three Months Ended
U.S. dollars in millions
March 28, 2026
March 29, 2025
Amount
% of Revenue
Amount
% of Revenue
Gross Profit and Margin
$
275
49
%
$
207
47
%
Add: Amortization of acquired intangible assets
95
17
%
94
21
%
Add: Share-based compensation expense
—
—
%
—
—
%
Adjusted Gross Profit and Margin
$
370
66
%
$
301
69
%
1Adjusted gross margin is calculated as adjusted gross profit as a percentage of revenue
Mobileye Global Inc.
Reconciliation of GAAP Operating Income and Margin to Non-GAAP Adjusted Operating Income and Margin2 (unaudited)
Three Months Ended
U.S. dollars in millions
March 28, 2026
March 29, 2025
Amount
% of Revenue
Amount
% of Revenue
Operating Income (Loss) and Margin
$
(3,896
)
(698
)%
$
(117
)
(27
)%
Add: Amortization of acquired intangible assets
113
20
%
111
25
%
Add: Share-based compensation expense
84
15
%
65
15
%
Add: Acquisition related expenses
6
1
%
—
—
%
Add: Goodwill impairment
3,788
679
%
—
—
%
Adjusted Operating Income (Loss) and Margin
$
95
17
%
$
59
13
%
2Adjusted operating margin is calculated as adjusted operating income (loss) as a percentage of revenue
Mobileye Global Inc.
Reconciliation of GAAP Net Income to Non-GAAP Adjusted Net Income (unaudited)
Three Months Ended
U.S. dollars in millions
March 28, 2026
March 29, 2025
Amount
% of Revenue
Amount
% of Revenue
Net Income (Loss)
$
(3,818
)
(684
)%
$
(102
)
(23
)%
Add: Amortization of acquired intangible assets
113
20
%
111
25
%
Add: Share-based compensation expense
84
15
%
65
15
%
Add: Acquisition related expenses
6
1
%
—
—
%
Add: Goodwill impairment
3,788
679
%
—
—
%
Less: Income tax effects
(77
)
(14
)%
(11
)
(3
)%
Adjusted Net Income (Loss)
$
96
17
%
$
63
14
%
Supplemental Information - Average System Price (unaudited)3
Q1 2025
Q2 2025
Q3 2025
Q4 2025
Q1 2026
EyeQ and SuperVision revenue (U.S. dollars in millions)
$
415
$
481
$
478
$
420
$
535
Number of systems shipped (in millions)
8.5
9.7
9.2
8.3
10.8
Average system price (U.S. dollars)
$
49.0
$
49.7
$
51.7
$
50.8
$
49.3
3 Average System Price is calculated as the sum of revenue related to EyeQ™ and SuperVision systems, divided by the number of systems shipped.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260423384609/en/
Dan Galves
Investor Relations
investors@mobileye.com
Justin Hyde
Media Relations
justin.hyde@mobileye.com
Original: Mobileye Releases First Quarter 2026 Results, Updates Full-Year Outlook, and Announces a $250 Million Share Repurchase Program
US Market News
2月前
Mobileye Announces Share Repurchase Program of Up to $250 MillionApril 23, 2026 6:15 AM
Business Wire
Mobileye Global Inc. (Nasdaq: MBLY) today announced its Board of Directors has authorized a program to repurchase up to $250 million of Mobileye’s outstanding Class A common stock (the “Repurchase Program”). The share repurchase program demonstrates both the leadership team and Board of Directors' confidence in the Company’s current products as well as its position as a leader in the development and deployment of advanced driver assistance systems, autonomous driving solutions, and complex physical AI systems at scale.
The Repurchase Program is intended to partially offset dilution associated with share-based compensation and shares issued in connection with the Mentee Robotics acquisition, while maintaining financial flexibility to continue investing in Mobileye’s core automotive business and its Physical AI platform.
“Mobileye is deeply committed to driving long-term shareholder value,” said President and CEO Prof. Amnon Shashua. “Our primary capital allocation priority remains investing in R&D and capital expenditures to support innovation and execute on our expanding product roadmap. At the same time, given our strong balance sheet and ongoing cash generation, we believe allocating a portion of our cash flow towards share repurchases at current valuation levels is a prudent step that underscores our confidence in the durability and future growth of our business.”
Under the Repurchase Program, Mobileye may repurchase from time to time shares of its Class A common stock for cash through any manner, including open market transactions (including pursuant to broker plans in accordance with Rule 10b-18), privately negotiated transactions with third parties or accelerated share repurchase agreements, and in such amounts as Mobileye deems appropriate, subject to legal requirements and other corporate considerations. Mobileye does not intend to directly repurchase shares of its Class A or Class B common stock for cash from related parties, including, but not limited to, Intel Corporation, under the Repurchase Program.
The volume and timing of any repurchases will be subject to general market conditions, opportunities and other factors. The Repurchase Program does not obligate Mobileye to repurchase any specific dollar amount or number of shares, has no fixed expiration date and may be modified, suspended or discontinued at any time at Mobileye’s discretion.
Mobileye currently expects to fund the Repurchase Program from existing cash on hand and future cash flows.
About Mobileye Global Inc.
Mobileye (Nasdaq: MBLY) leads the mobility revolution with our autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in artificial intelligence, computer vision and integrated software and hardware. Since our founding in 1999, Mobileye has enabled the global adoption of advanced driver-assistance systems that save countless lives and reduce crashes, while pioneering groundbreaking technologies such as REM™ crowdsourced road intelligence, Imaging Radar and Compound AI. These technologies drive the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions at scale, and powering industry-leading ADAS products. Through 2025, more than 230 million vehicles worldwide have been built with Mobileye’s EyeQ technology inside. In 2026, Mobileye acquired Mentee Robotics to pursue the future of physical AI and humanoid robots. Since 2022, Mobileye has been listed independently from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.
“Mobileye,” the Mobileye logo and Mobileye product names are registered trademarks of Mobileye Global. All other marks are the property of their respective owners.
Forward-Looking Statements
Mobileye’s expectations regarding the Repurchase Program and other statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast,” or the negative of these terms, and other similar expressions, although not all forward-looking statements contain these words. We base these forward-looking statements or projections, including Mobileye’s current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances and at such time. You should understand that these statements are not guarantees of performance or results. The forward-looking statements and projections are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections. Although we believe that these forward-looking statements and projections are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those expressed in the forward-looking statements and projections.
Important factors that may materially affect such forward-looking statements and projections include the following: further deterioration of macroeconomic conditions due to ongoing global economic and political uncertainty; future business, strategic, and financial performance, goals and measures; our anticipated growth prospects and trends in markets and industries relevant to our business; business and investment plans; expectations about our ability to maintain or enhance our leadership position in the markets in which we participate; future consumer demand and behavior, including expectations about excess inventory utilization by customers; our ability to effectively compete in the markets in which we operate; increased competition from emerging chip manufacturers and OEMs; future products and technology, and the expected availability and benefits of such products and technology; the humanoid robotics industry and its accompanying technology may not develop as expected; development of regulatory frameworks for current and future technology; changes in regulation and trade policy, including increased tariffs, in regions in which we operate, including the U.S., Europe and China; projected cost and pricing trends; future production capacity and product supply; potential future benefits and competitive advantages associated with our technologies and architecture and the data we have accumulated; the future purchase, use and availability of products, components and services supplied by third parties, including third-party IP and manufacturing services; uncertain events or assumptions, including statements relating to our estimated vehicle production and market opportunity, potential production volumes associated with design wins and other characterizations of future events or circumstances; adverse conditions in Israel, including as a result of war and geopolitical conflict, which may affect our operations and may limit our ability to produce and sell our solutions; any disruption in our operations by the obligations of our personnel to perform military service as a result of current or future military actions involving Israel; availability, uses, sufficiency and cost of capital and capital resources, including expected returns to stockholders such as dividends, and the expected timing of future dividends; tax- and accounting-related expectations; sustained low levels of our share price and market capitalization as well as other factors may require further testing of our Mobileye reporting unit, which may result in an impairment of goodwill; and the ability to meet our social and environmental goals and projections.
Detailed information regarding these and other factors that could affect Mobileye’s business and results is included in Mobileye’s SEC filings, including the company’s Annual Report on Form 10-K for the fiscal year ended December 27, 2025, particularly in the section entitled “Item 1A. Risk Factors”. Copies of these filings may be obtained by visiting our Investor Relations website at ir.mobileye.com or the SEC’s website at www.sec.gov.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260423068087/en/
Dan Galves
Investor Relations
investors@mobileye.com
Justin Hyde
Media Relations
justin.hyde@mobileye.com
Original: Mobileye Announces Share Repurchase Program of Up to $250 Million
US Market News
5月前
Mahindra Selects Mobileye's SuperVision™ and Surround ADAS for Next-Gen ModelsFebruary 10, 2026 8:19 AM
Business Wire
Program includes EyeQTM6 High-based systems covering multiple models planned to launch in 2027 and beyond
Mobileye Global Inc. (Nasdaq: MBLY) today announced that its SuperVision and Surround ADAS hands-free, eyes-on advanced driving assistance systems have been selected by Mahindra & Mahindra Ltd. for at least six upcoming models, with production expected to begin in 2027.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260210772101/en/Mobileye to supply SuperVision and Surround ADAS technology to Mahindra vehicles.
Both solutions will be powered by Mobileye's EyeQ6 High system-on-chip, with perception, Road Experience ManagementTM (REM) intelligence, driving functions, driver/occupant monitoring systems, and advanced parking integrated on a single ECU designed by Mobileye, supporting Mahindra’s architecture-efficiency goals. Mobileye will serve as the Tier 1 supplier across programs.
The SuperVision system, fed by 11 cameras, optional radars and powered by two EyeQ6H SoCs, is designed to enable, in designated areas and conditions, point-to-point navigate-on-pilot (NOP) capabilities, advanced parking features and Driving Monitoring System functionalities. The Surround ADAS system, fed by 5 cameras and multiple radars, and powered by a single EyeQ6H, is designed to enable hands-off, eyes-on driving on highways in specified conditions, along with advanced parking features and DMS. Both platforms are designed to enable world-leading safety features as well. These AI-driven solutions will provide an integrated ADAS experience designed to enhance safety, driving comfort, and economic scalability, while consolidating multiple ECUs.
India, the world's third-largest automotive market by sales, has seen growing ADAS adoption, driven by consumer demand for enhanced safety and driving comfort, along with new regulatory standards, such as the Bharat New Car Assessment Program (Bharat NCAP). These trends are expected to increase ADAS adoption rates to levels aligned with developed markets towards the end of the decade.
Mahindra & Mahindra’s collaboration with Mobileye started a few years ago with EyeQ4M & EyeQ6L launches, with products which achieved highly rated safety performance in India. This nomination signals a new chapter in the Indian automotive market, where autonomous driving solutions which are localized in India see quick adoption and designed to address both domestic market requirements and future export opportunities.
“This nomination demonstrates Mahindra’s commitment to advanced safety technologies and strengthens Mobileye’s long-term investment in India as a strategic hub for ADAS localization and production,” said Prof. Amnon Shashua, President and CEO of Mobileye. “We see India as a key growth market for ADAS technologies, and this program sets the foundation, now for advanced solutions as well.”
Mobileye (Nasdaq: MBLY) leads the mobility revolution with our autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in artificial intelligence, computer vision and integrated software and hardware. Since our founding in 1999, Mobileye has enabled the global adoption of advanced driver-assistance systems that save countless lives and reduce crashes, while pioneering groundbreaking technologies such as REM™ crowdsourced road intelligence, Imaging Radar and Compound AI. These technologies drive the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions at scale, and powering industry-leading ADAS products. Through 2025, about 230 million vehicles worldwide have been built with Mobileye’s EyeQ technology inside, and in 2026 Mobileye acquired Mentee Robotics to pursue the future of physical AI and humanoid robots. Since 2022, Mobileye has been listed independently from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com
Mobileye's name, product names, product marks and logos are trademarks or registered trademarks of Mobileye Vision Technologies Limited. Other names and brands are the property of their respective owners.
Any reference to "Mobileye" in this document means Mobileye Vision Technologies Ltd., Mobileye Global Inc. or any of their subsidiaries.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260210772101/en/
Media Contact: Justin Hyde, justin.hyde@mobileye.com
Original: Mahindra Selects Mobileye's SuperVision™ and Surround ADAS for Next-Gen Models
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