Financial Data and Key Metrics Changes - Full-year 2025 revenue reached $1.9 billion, up 15% year-over-year, exceeding prior guidance of 6% growth at the midpoint [15][18] - Adjusted operating income for 2025 was $280 million, a 45% increase year-over-year, with a margin of 15%, up about 300 basis points compared to 2024 [15][18] - Operating cash flow increased by more than 50% in 2025 [4] Business Line Data and Key Metrics Changes - EyeQ volume for 2025 was 35.6 million units, surpassing the original expectation of 32 million-34 million units [16] - The fourth quarter saw EyeQ volume consistent with the high end of guidance at about 8.2 million units, with expectations of 10 million units shipped in Q1 2026 [17][18] - Higher-than-expected SuperVision units contributed to the positive revenue outlook [17] Market Data and Key Metrics Changes - Demand for products remained strong despite a challenging geopolitical environment, indicating resilience in the auto industry [4] - The company anticipates a decline of about 500,000 units for Chinese OEMs compared to 2025, which was slightly above 3 million units [19] Company Strategy and Development Direction - Mobileye is focusing on launching advanced products, including the EyeQ6 chip, and expanding into humanoid robotics through the acquisition of Mentee Robotics [5][7] - The company aims to leverage synergies between autonomous vehicles and robotics, emphasizing the importance of AI and simulation technologies [12][14] - The strategy includes a unique first-think, slow-think structure for advanced products to enhance precision and scalability [6][10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about volume growth despite flat global auto production, with rising order flows for Q1 2026 [8][22] - The company is experiencing positive demand signals from customers and expects significant growth in next-gen higher ASP ADAS and robotaxi mobility [22] - Management acknowledged challenges related to currency appreciation impacting costs but noted effective hedging strategies in place [22][61] Other Important Information - The company is facing FX headwinds due to the appreciation of the Israeli shekel against the U.S. dollar, which raises headcount costs [22][61] - A non-recurring expense of $7 million related to workforce efficiency initiatives was recorded in Q4 2025 [16] Q&A Session Summary Question: Competitive environment and advanced autonomous solutions - Management believes they are closer to launching advanced products than competitors, with a strong advantage in technology maturity [25] Question: Differentiation for Mentee Robotics - Mentee's differentiation lies in its fully autonomous control, vertical integration, and ability to learn from passive observation [30] Question: Surround ADAS engagement with OEMs - The company has seen increased engagement with multiple OEMs, indicating a strong market need for Surround ADAS [39] Question: Mentee's customer interest post-announcement - Significant interest from customers for on-site pilots and proof of concepts has been observed since the CES announcement [42] Question: Pricing dynamics on EyeQ - Pricing is influenced by the mix of EyeQ products, with no significant changes expected, although a second chip at a lower price may impact overall ASP [99][100]

Financial Data and Key Metrics Changes - Full year 2025 revenue reached $1.9 billion, up 15% year-over-year, exceeding prior guidance of 6% growth at the midpoint [15][16] - Adjusted operating income for 2025 was $280 million, a 45% increase year-over-year, with a margin of 15%, up about 300 basis points compared to 2024 [15][16] - Operating cash flow increased by more than 50% [4] Business Line Data and Key Metrics Changes - EyeQ volume for 2025 was 35.6 million units, exceeding the original expectation of 32 to 34 million units, with a consistent demand trend of nine million units per quarter [16] - The fourth quarter saw higher-than-expected SuperVision units, contributing to a modest upside in guidance [17] Market Data and Key Metrics Changes - The company expects about 10 million EyeQ units shipped in Q1 2026, supporting an outlook of approximately 19% year-over-year growth in the first quarter [18] - For 2026, revenue guidance is in the range of $1.9 billion to $1.98 billion, representing flattish to 5% growth [18] Company Strategy and Development Direction - Mobileye is focusing on launching advanced products, including the EyeQ6 chip, and has secured major programs with two of the largest OEMs [5][6] - The acquisition of Mentee Robotics aims to expand into humanoid robotics, leveraging synergies between autonomous vehicles and robotics technologies [7][12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about demand signals from customers and the execution progress ahead of numerous advanced product launches [22] - The geopolitical environment has not hindered demand, with the auto industry showing resilience [4] Other Important Information - The company is experiencing a foreign exchange headwind due to the appreciation of the Israeli shekel against the U.S. dollar, impacting headcount costs [22] - Operating expenses for 2025 were slightly above budget at $1.003 billion, with expectations of around $1.1 billion for 2026 [20][21] Q&A Session Questions and Answers Question: Competitive environment and announcements at CES - Management noted increased excitement around advanced solutions and believes they are closer to launching products than competitors, citing the maturity of their technologies [25][26] Question: Differentiation for Mentee Robotics - Mentee's differentiation lies in its fully autonomous control, vertical integration, and the ability to learn from passive observation, which is crucial for unstructured environments [28][30] Question: Surround data opportunities and OEM engagements - Management indicated a growing interest from multiple OEMs in surround data products, with two major OEMs already committed [38][40] Question: Mentee's commercialization timeline - Initial commercialization is expected to involve high double-digit units in 2026, with gradual expansion based on pilot results [77][78] Question: Pricing dynamics for EyeQ - Pricing is influenced by the mix of EyeQ products, with no significant changes expected, although a second EyeQ4 chip is being used in some vehicles as a temporary measure [100][101]

Financial Data and Key Metrics Changes - Full year 2025 revenue reached $1.9 billion, a 15% increase year-over-year, exceeding prior guidance of 6% growth at the midpoint [13] - Adjusted operating income for 2025 was $280 million, up 45% year-over-year, with a margin of 15%, an increase of approximately 300 basis points compared to 2024 [13][14] - Operating cash flow increased by more than 50% in 2025 [3] Business Line Data and Key Metrics Changes - EyeQ volume for 2025 was 35.6 million units, surpassing the original expectation of 32 to 34 million units, with a consistent demand trend of nine million units per quarter [14] - The fourth quarter saw higher-than-expected SuperVision units, contributing to a modest upside in guidance [15] Market Data and Key Metrics Changes - Demand for Mobileye's products remained strong despite a challenging geopolitical environment, indicating resilience in the auto industry [3] - The company expects about 10 million EyeQ units to be shipped in Q1 2026, supporting an outlook of approximately 19% year-over-year growth in the first quarter [15] Company Strategy and Development Direction - Mobileye is focusing on launching advanced products, including the EyeQ6 chip, and has secured major programs with two of the largest OEMs [4] - The acquisition of Mentee Robotics aims to expand into humanoid robotics, leveraging synergies between autonomous vehicles and robotics technologies [5][11] - The company is implementing a unique "fast-think, slow-think" structure to enhance the precision and scalability of its products [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about volume growth despite expectations of flat global auto production [6] - Positive demand signals from customers have been noted, with expectations for continued growth in 2026 [19] - The company is cautious about the short-term visibility into order flow, particularly with Chinese OEMs, but remains encouraged by growth trends [17] Other Important Information - The company is experiencing foreign exchange headwinds due to the appreciation of the Israeli shekel against the U.S. dollar, impacting headcount costs [19] - Operating expenses for 2025 were slightly above budget at $1.003 billion, with expectations of around $1.1 billion in 2026, driven by normal inflation and Mentee R&D expenses [18] Q&A Session Summary Question: Competitive environment in advanced autonomous solutions - Management believes they are closer to launching advanced products than competitors, with proven technologies and a strong market position [22] Question: Differentiation for Mentee Robotics - Mentee's strength lies in its fully autonomous control, vertical integration, and ability to learn from passive demonstrations, setting it apart from competitors [25][26] Question: Engagement with OEMs for surround data - The company has seen increased interest from multiple OEMs, with two major design wins already secured, indicating a strong market demand [32][33] Question: Near-term pricing dynamics on EyeQ - Pricing is influenced by the mix of EyeQ generations, with no significant changes expected, although a second EyeQ chip at a lower price may impact overall ASP [81] Question: Updates on Porsche and VW programs - The SuperVision program for Porsche and Audi is expected to start in Q1 2027, with no significant volume expected in 2026 [57] Question: Memory supply chain concerns - Management is actively working with Tier 1 customers to ensure supply availability and mitigate cost impacts from memory component fluctuations [50][51] Question: Next steps for Mentee Robotics commercialization - Initial deployments will involve a small number of robots for proof of concept, with plans to scale up based on performance evaluations [62][64]