Mobileye (US:MBLY)2026-01-22 12:04Financial Performance - Full year 2025 revenue increased 15% year-over-year to $1,894 million, despite a 9% decrease in Q4 revenue [4] - Revenue for the year ended December 27, 2025, was $1,894 million, an increase of 14.5% compared to $1,654 million for the year ended December 28, 2024 [26] - Gross profit for the year ended December 27, 2025, was $904 million, representing a gross margin of approximately 47.7%, up from $741 million in the previous year [26] - Adjusted gross profit for the year ended December 27, 2025, was $1,283 million, representing a margin of 68%, compared to $1,119 million and 68% in the previous year [29] - Adjusted Operating Income for Q4 2025 was $41 million, down 59% from $101 million in Q4 2024 [9] - Operating loss for the year ended December 27, 2025, was $(440) million, compared to $(3,225) million in the previous year, indicating a significant reduction in losses [26] - Net loss for the year ended December 27, 2025, was $(392) million, an improvement from $(3,090) million in the prior year [26] - Diluted EPS (GAAP) was $(0.16) in Q4 2025, compared to $(0.09) in Q4 2024, reflecting a 78% decrease [8] Cash Flow and Assets - Generated $602 million of net cash from operating activities in 2025, up 51% from 2024, ending the year with $1.8 billion in cash and cash equivalents [4] - Cash and cash equivalents as of December 27, 2025, were $1,836 million, an increase from $1,426 million in the previous year [27] - Cash, cash equivalents, and restricted cash at the end of the year were $1,860 million, an increase from $1,438 million at the beginning of the year [28] - Total assets as of December 27, 2025, were $12,492 million, slightly down from $12,579 million as of December 28, 2024 [27] - Total liabilities as of December 27, 2025, were $6,611 million, compared to $4,992 million as of December 28, 2024 [27] Future Outlook - Full-year 2026 financial guidance implies flat to 5% year-over-year revenue growth, with approximately 19% expected growth in Q1 2026 [4] - The company anticipates future growth prospects despite macroeconomic uncertainties and potential regulatory changes affecting the robotics industry [24] - The company plans to continue investing in new technologies and market expansion to drive future growth [28] Product and Market Developments - The expected automotive revenue pipeline reached $24.5 billion at year-end 2025, a 42% increase since year-end 2022 [7] - Mobileye's average system price was $50.8 in Q4 2025, up from $50.0 in the prior year period [10] - The average system price for EyeQ and SuperVision systems was $50.8 in Q4 2025, compared to $50.0 in Q4 2024 [32] - Total revenue from EyeQ and SuperVision systems was $420 million in Q4 2025, down from $464 million in Q4 2024 [32] - The number of systems shipped in Q4 2025 was 8.3 million, a decrease from 9.3 million in Q4 2024 [32] - Mobileye agreed to acquire Mentee Robotics, expected to close in Q1 2026, expanding its leadership in Physical AI [4] - Volkswagen plans to expand its robotaxi services to 6 cities by the end of 2027, supported by Mobileye's technology [7] Expenses - Research and development expenses for the year ended December 27, 2025, totaled $1,151 million, an increase from $1,083 million in the prior year [26] - Adjusted gross margin for Q4 2025 was 67%, down from 69% in Q4 2024, primarily due to higher EyeQ-related costs [12] Impairments - The company incurred a goodwill impairment of $2,695 million in the previous year, which significantly impacted net income [31]