Core Insights - Mobileye Global Inc. is a leader in advanced driver assistance systems (ADAS) and autonomous driving technologies, leveraging its EyeQ technology for enhanced AI capabilities [1][2] - The company holds approximately 50% of the global ADAS market share, with its EyeQ chips present in about one-third of new vehicles [2] - Mobileye reported an 83% year-over-year revenue increase and reaffirmed its full-year guidance, indicating strong business performance despite economic uncertainties [3][5] Market Position and Growth Potential - Mobileye has established partnerships with major automotive manufacturers such as BMW, Volkswagen, Ford, Geely, and Nissan, positioning itself for significant growth in the autonomous driving sector [2] - The company is expected to generate over $2 billion in sales next year, with projected sales growth of 20-30% continuing beyond that [6] - Despite a 50% decline in stock value since the beginning of the year, recent earnings announcements suggest that Mobileye may be at a low point, with potential for recovery and growth [4][5] Industry Trends - The automotive market is increasingly shifting towards autonomous driving, providing positive headwinds for Mobileye's business expansion [5] - Mobileye's technology is not limited to vehicles, indicating potential applications across various industries in the future [6]

Group 1 - Aptiv aims to develop a self-controlled technology system and localize its supply chain in China amid a complex macro environment [1][3] - Mobileye showcased its comprehensive driving automation solutions based on Composite Artificial Intelligence Systems (CAIS) at the Shanghai Auto Show, targeting mainstream mass production vehicles [3] - Aptiv's president for China and Asia Pacific emphasized the necessity of creating a fully controllable and complete industrial chain in China [3][4] Group 2 - Aptiv announced the establishment of its Wind River China software headquarters in Shanghai, focusing on developing solutions suitable for the Chinese market and advancing its localization strategy [4] - The company highlighted its locally developed real-time operating system (RTOS) and virtualization platform, which are free from foreign control components and export restrictions [4] - Mobileye noted the accelerated pace of Chinese automakers entering overseas markets, facing stricter safety regulations and dynamic market conditions [4][5] Group 3 - Aptiv is committed to supporting Chinese automotive companies in their global expansion, addressing legal, data security, and compliance issues [5][6] - The future of China's automotive technology is expected to focus on software-defined intelligence, electrification, and digitalization [6] - The Chinese automotive industry has transitioned from "manufacturing" to "creation," emphasizing the need for innovative products to support global automotive development [6]

Financial Data and Key Metrics Changes - Revenue increased by 83% year over year, attributed to normalized volume compared to the unusually low Q1 of the previous year [6][25] - Operating cash flow was highlighted at $109 million in Q1 [7] - Operating expenses grew by 14% in Q1, expected to moderate to middle single digits for the remainder of the year [6][27] Business Line Data and Key Metrics Changes - Volume for core single-chip front camera driving assist systems was 8.5 million units in Q1, with expectations for Q2 volume to be about 7% higher [9][34] - Design win activity was strong, with Q1 design wins reaching around 85% of the total achieved in the previous year [12][58] Market Data and Key Metrics Changes - The macro environment for global light vehicle production in 2025 has become uncertain due to new trade frictions [9][31] - Approximately 25% of chips are shipped to the US and are currently exempt from import tariffs, while 20% are sent to China for local production [30] Company Strategy and Development Direction - The company is focusing on the trend towards multicamera setups in response to stricter safety requirements, with significant design wins in this area [13][14] - Mobileye aims to be a one-stop shop for OEMs, aligning with their software-defined vehicle architecture goals [15] - The company is expanding its Mobileye Drive self-driving system, with partnerships with Lyft and Uber for robotaxi services [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting the full-year guidance despite potential macroeconomic risks [11][33] - There is a strong demand for advanced products, with ongoing engagements with top OEMs for future technologies [60][62] Other Important Information - The company achieved its first design win in about eight years with a European OEM, indicating a strong market position [16][140] - The company expects meaningful revenue from Mobileye Drive starting in 2027, with significant potential for growth in the robotaxi market [115][116] Q&A Session Summary Question: How do you envision the VW-Uber announcement working? - Mobileye will deliver the self-driving system, including hardware and software, with a one-time payment per car and a recurring license fee based on fleet utilization [38][39] Question: Can you provide insight into the Q2 outlook? - Orders have been stable, and there is no indication of excess inventory at customers [44][46] Question: How do you characterize customer engagement and design activity? - There is strong demand for products, with 85% of last year's design wins achieved in Q1, indicating solid engagement with top customers [58][60] Question: What is the status of the imaging radar award? - The imaging radar award is imminent, but it is separate from the Chauffeur product [71] Question: Can you discuss the economics of the robotaxi rollout? - The rollout involves multiple stages, starting with testing and gradually expanding to commercial service, with a one-time payment and recurring fees based on usage [100][104] Question: What drove the reengagement with the European OEM? - The reengagement is due to Mobileye's product advantages and performance versus cost superiority [140] Question: Are you reaffirming your non-GAAP gross margin expectations? - The company anticipates an increase in gross margin, expecting approximately 100 basis points improvement in 2025 [142][143]

Financial Data and Key Metrics Changes - Revenue increased by 83% year over year, attributed to normalized volume compared to a low Q1 in the previous year [6][25] - Operating cash flow was highlighted at $109 million for Q1 [7] - Operating expenses grew by 14% in Q1, expected to moderate to middle single digits for the remainder of the year [6][27] Business Line Data and Key Metrics Changes - Core single-chip front camera driving assist systems showed strong business trends, with volume reaching 8.5 million units in Q1 [8][9] - Q2 volume is expected to be approximately 7% higher than Q1, with revenue also projected to increase by about 7% year over year [9][34] Market Data and Key Metrics Changes - Global light vehicle production in 2025 is uncertain due to new trade frictions, but Mobileye's supply chain structure mitigates direct tariff costs [10][29] - Approximately 25% of chips are shipped to the US and are currently exempt from import tariffs, while 20% are sent to China for local production [30] Company Strategy and Development Direction - Mobileye is focusing on expanding its technology into multicamera setups to meet future safety requirements and enhance competitive positioning [13][14] - The company is pursuing partnerships with major OEMs to scale robotaxi operations, with significant contracts expected to generate meaningful revenue by 2027 [111][115] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in meeting guidance despite macroeconomic uncertainties, with a conservative outlook already factored into projections [11][54] - There is a strong demand for advanced products, with design win activity in Q1 reaching 85% of the total for the previous year [12][58] Other Important Information - Mobileye's technology is being integrated into various OEMs, including a significant design win with Volkswagen [14][16] - The company is exploring additional growth engines in the physical AI space beyond automotive [95] Q&A Session Summary Question: How will the VW-Uber announcement work? - Mobileye will deliver the self-driving system, including hardware and software, with a one-time payment per car and a recurring license fee based on fleet utilization [38] Question: Is there a sense of urgency in Q2 orders? - Orders have been stable, with no specific urgency indicated for Q2, aligning with previous forecasts [44] Question: How does the back half of the year look? - The company has not seen changes in the back half, but conservatism in guidance reflects potential demand decreases [52][54] Question: What is the status of design activity with customers? - There is strong demand for future generations of products, with a mix of surround ADAS and basic ADAS products contributing to design wins [58] Question: What is the outlook for China? - Mobileye is supporting Chinese OEMs and has seen increased demand, with expectations of higher unit sales than initially forecasted [68] Question: What is the economic model for robotaxis? - Mobileye's model includes a one-time payment for the ECU and a recurring fee based on usage, allowing for scalable deployment [104] Question: What is the timeline for robotaxi deployment? - The rollout involves multiple stages, starting with testing and gradually expanding to commercial service, with significant scaling expected in 2025 [100] Question: How is Mobileye Drive expected to impact revenue? - Mobileye anticipates meaningful revenue from Drive starting in 2027, with potential for significant growth in the autonomous vehicle market [115][116]

Group 1: Earnings Performance - Mobileye Global reported quarterly earnings of $0.08 per share, matching the Zacks Consensus Estimate, compared to a loss of $0.07 per share a year ago [1] - The company posted revenues of $438 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 0.93%, and up from $239 million year-over-year [2] - Over the last four quarters, Mobileye has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Group 2: Stock Performance and Outlook - Mobileye shares have declined approximately 33.7% since the beginning of the year, while the S&P 500 has decreased by 8.6% [3] - The current consensus EPS estimate for the upcoming quarter is $0.07 on revenues of $435.76 million, and for the current fiscal year, it is $0.28 on revenues of $1.72 billion [7] - The estimate revisions trend for Mobileye is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [6] Group 3: Industry Context - The Automotive - Original Equipment industry, to which Mobileye belongs, is currently ranked in the bottom 36% of over 250 Zacks industries, suggesting potential challenges ahead [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact investor sentiment [5]

Financial Performance - Revenue for Q1 2025 was $438 million, representing an 83% year-over-year increase compared to Q1 2024[4] - Gross profit increased to $207 million, with a gross margin of 47%, up from 23% in the prior year, reflecting a 2,467 basis points improvement[6] - Adjusted operating income for Q1 2025 was $59 million, compared to a loss of $65 million in Q1 2024, marking a significant turnaround[7] - Adjusted EPS for Q1 2025 was $0.08, compared to a loss of $0.07 in Q1 2024[7] - Net loss for Q1 2025 was $102 million, an improvement from a net loss of $218 million in Q1 2024[22] - Basic and diluted earnings per share for Q1 2025 were $(0.13), an improvement from $(0.27) in Q1 2024[22] - Adjusted net income for the quarter was $63 million, or 14% of revenue, compared to a loss of $55 million, or -23% of revenue, in the same quarter last year[27] Revenue Guidance - The company expects Q2 2025 revenue to increase approximately 7% year-over-year compared to Q2 2024[4] - Full-year 2025 revenue guidance is set between $1.69 billion and $1.81 billion, with an expected operating loss between $574 million and $489 million[12] Operating Metrics - Operating cash flow for Q1 2025 was $109 million, with $14 million used for property and equipment purchases[11] - Cash provided by operating activities was $109 million, significantly up from $40 million in the prior year[24] - The balance of cash, cash equivalents, and restricted cash at the end of the period was $1,527 million, up from $1,238 million a year earlier[24] Expenses - Research and development expenses increased to $275 million in Q1 2025 from $243 million in Q1 2024[22] - Total operating expenses for Q1 2025 were $324 million, up from $292 million in Q1 2024[22] - The company incurred $65 million in share-based compensation expenses during the quarter, compared to $62 million in the same quarter last year[26] Asset and Liability Overview - Total current assets as of March 29, 2025, were $2,215 million, compared to $1,774 million as of March 30, 2024[23] - Total assets increased to $12,498 million as of March 29, 2025, from $12,579 million as of March 30, 2024[23] - Total liabilities as of March 29, 2025, were $4,449 million, compared to $4,492 million as of March 30, 2024[23] - Total equity as of March 29, 2025, was $12,049 million, down from $12,087 million as of March 30, 2024[23] Product and Market Developments - Mobileye achieved notable design wins, including its first Surround ADAS design win with Volkswagen Group and a significant ADAS design win with a European OEM[5] - Projected lifetime volumes for design wins in Q1 2025 are expected to exceed the total achieved in the previous year[5] - The company continues to focus on strategic programs, including advancements in its Imaging Radar product and acceleration in the robotaxi/MaaS segment[5] System Performance - The average system price for EyeQ and SuperVision systems decreased to $49.0 thousand in Q1 2025 from $50.0 thousand in Q4 2024[28] - The number of systems shipped in Q1 2025 was 8.5 million, a decrease from 9.3 million in Q4 2024[28] - Mobileye's revenue from EyeQ and SuperVision systems was $415 million in Q1 2025, down from $464 million in Q4 2024[28]

Company Overview - Mobileye is a leader in autonomous driving and driver-assistance technologies, leveraging expertise in AI, computer vision, and integrated software and hardware [3] - Valens Semiconductor specializes in high-performance connectivity solutions, with its chipsets used in various applications including ADAS and autonomous driving [4] Collaboration Highlights - Mobileye has selected Valens' VA7000 chipsets for their automated and autonomous driving platforms, emphasizing the chipset's superior performance after extensive testing [1][2] - The collaboration is seen as a validation of the MIPI A-PHY standard, which is designed for high-speed sensor and display connectivity in the automotive industry [2] Technology Significance - MIPI A-PHY is the first automotive industry standard for high-speed connectivity, enabling high-bandwidth and low-latency communication essential for next-generation ADAS [2] - The MIPI A-PHY ecosystem is expanding, attracting new companies to design products based on this standard, with Valens being a key contributor [2] Market Impact - The partnership between Mobileye and Valens marks a significant milestone for the automotive industry, indicating the growing importance of high-performance connectivity in enhancing vehicle safety and functionality [2]

On Wednesday, Needham analyst Quinn Bolton reiterated Mobileye Global Inc MBLY with a Buy and a $20 price target.Mobileye announced its first Surround ADAS design win with Volkswagen AG VWAGY and Valeo SE – ADR VLEEY as Tier 1.Bolton noted this as a step forward in the company’s monetization strategy.Also Read: Mobileye Gains Analyst Upgrade On 2025 Catalysts, But Profit Delays And Competition Keep Rating NeutralAccording to the analyst, surround ADAS provides OEMs with another step (at higher ASPs) towards ...

Shares of self-driving technology company Mobileye (MBLY 8.32%) were on the rise on Tuesday, up as much as 13.6%, before settling into a 8% gain as of 2:54 p.m. ET.Mobileye announced an upgraded collaboration with key customer Volkswagen (VWAGY 0.54%), which will implement Mobileye's new Surround ADAS (advanced driver-assistance system) into Volkswagen's MBQ modular vehicle platform for future self-driving use cases.Volkswagen is the second-largest automaker in the world, so the new announcement could perha ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 28, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-41501 Mobileye Global Inc. (Exact name of registrant as specified in its charter) DE 88-0666433 (State or other jurisdiction of ...