Mobileye Global Stock Earnings Reports

Mobileye reported strong Q1 2026 results with revenue up 27% y/y to $558M, adjusted operating income up 61% to $95M, and operating cash flow of $75M. Management raised full-year revenue guidance toward the high end of prior guidance (midpoint revenue outlook now $1.975B, implying ~4% y/y growth) and increased adjusted operating income guidance to $210M (midpoint), driven by Q1 upside (notably higher ADAS fitment with key Western OEMs and robust Chinese OEM export volumes). EyeQ unit volume guidance for 2026 is about 38M units (roughly +1M vs prior outlook). Q2 EyeQ shipments are assumed at ~9.3M units with revenue expected to be down ~6% y/y. SuperVision and robotaxi (DRIVE with MOIA/Volkswagen) programs are progressing: SuperVision showed a successful 2,000+ km OEM-directed U.S. test on production hardware; robotaxi pre-series production has started and city tests (L.A., Orlando) with partners are underway, with commercial driver-out targets in 2026 and homologation/European scale targeted toward 2027. Surround ADAS is gaining traction (three design wins to date, including VW, a major U.S. OEM, and Mahindra) and represents a meaningful future ASP uplift. The company completed the Menti robotics acquisition; integration and product development are proceeding, with an AI Day planned around July. Mobileye announced a share buyback program to offset dilution and take advantage of free cash flow. A non-cash goodwill impairment of $3.8B was recorded in Q1 due to lower market capitalization and a higher risk premium. Key risks/notes: China export mix is driving volume upside but at lower ASPs and margins; management remains cautious on second-half China visibility and retains a conservative posture for H2; some incremental ECU memory costs are noted for SuperVision (passed through or limited impact).