Mobileye (US:MBLY)2025-04-24 11:22Financial 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]