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]

Summary of Mobileye Global Conference Call (December 03, 2025) Company Overview - **Company**: Mobileye Global (NasdaqGS:MBLY) - **Industry**: Autonomous Driving Technology and Advanced Driver Assistance Systems (ADAS) Key Points Business Focus and Product Development - Mobileye is evolving its core competencies in ADAS, with a focus on next-generation systems for mass-market vehicles that enhance safety and meet stringent future test criteria [3][5][6] - The company is prioritizing the execution of existing design wins, particularly with Volkswagen Group, rather than seeking new design wins at this time [7][8] - There is significant market pull for cost-effective surround ADAS solutions, which are expected to be implemented broadly across various vehicle models [4][6][10] Robotaxi Business - The robotaxi segment is generating enthusiasm from investors and demand from ride-hailing companies like Uber and Lyft, as well as public transit operators [6][15] - Mobileye is exploring the potential of operating its own small fleet of vehicles to demonstrate technology capabilities and drive partnerships [16][27] - The company aims to remove safety drivers from its vehicles by mid-2026 in specific environments, with plans for scaled commercialization by the end of 2026 [22][23] Competitive Landscape - Mobileye acknowledges Waymo as a leader in the robotaxi space, but believes it has scaling advantages and is well-positioned to compete [25][32] - The company is cautious about relying on a few partners for scaling and is considering alternative partnerships to mitigate risks [27][63] Financial Outlook and Market Position - Mobileye expects to ship below demand in Q4 2025, leading to a tight inventory situation at the start of 2026 [38] - The company anticipates growth in market share, particularly in emerging markets like India, with significant vehicle launches planned for 2027 [40][42] - The SuperVision product line is stabilizing, with quarterly unit sales increasing from 12,000 to approximately 15,000-16,000 [43] Technology and Supply Chain Considerations - Mobileye is not directly responsible for sourcing memory components used in its systems, as this is managed by Tier 1 suppliers [56][57] - The company is monitoring potential memory shortages but does not foresee production impacts in the near term [60][61] Strategic Partnerships and Collaborations - Mobileye is not seeing significant interest from customers in committing to large-scale programs with competitors or startups, focusing instead on scaling its own products [63][64] Additional Insights - The company is leveraging lessons learned from competitors like Waymo to navigate regulatory environments and consumer expectations [31][32] - Mobileye's technology is positioned to provide cost savings for OEMs while generating revenue for itself, creating a mutually beneficial dynamic [11][14] This summary encapsulates the key discussions and insights from the Mobileye Global conference call, highlighting the company's strategic focus, competitive positioning, and market outlook.