Mobileye Global Inc. reported first‑quarter 2026 revenue of $558 million, up 27% from $438 million in Q1 2025, and adjusted earnings per share of $0.12, beating consensus estimates of $0.09 (or $0.08). The $0.03‑to‑$0.04 beat represents a 33%–50% lift over expectations and reflects stronger demand for its EyeQ chip and advanced driver‑assist systems.
Adjusted gross margin fell nearly 2 percentage points to 17% from 13% year‑over‑year, largely due to higher EyeQ‑related cost per unit driven by a shift in the product mix. In contrast, adjusted operating margin expanded to 17% from 13% as higher revenue and operating leverage offset the margin compression, and the company’s operating income guidance was raised by 8% at the midpoint.
Management lifted the midpoint of its full‑year 2026 revenue guidance by 2% to a range of $1.94 billion to $2.02 billion and increased the adjusted operating income guidance by 8% at the midpoint. The company also announced a new up to $250 million share‑repurchase program to offset dilution from stock‑based compensation and acquisition‑related share issuance. “Mobileye is deeply committed to driving long‑term shareholder value. Our primary capital allocation priority remains investing in R&D and capital expenditures to support innovation and execute on our expanding product roadmap. At the same time, given our strong balance sheet and ongoing cash generation, we believe allocating a portion of our cash flow towards share repurchases at current valuation levels is a prudent step that underscores our confidence in the durability and future growth of our business.” – President and CEO Prof. Amnon Shashua.
The company also reported a non‑cash goodwill impairment of $3.788 billion, the largest charge in its history, related to the goodwill from Intel’s 2017 acquisition. In February 2026, Mobileye closed its acquisition of Mentee Robotics, expanding its capabilities into humanoid robotics and reinforcing its Physical AI strategy.
CEO Amnon Shashua highlighted the company’s momentum, stating, “First quarter results reflected a stronger than expected start to 2026, and continued favorable demand trends enable us to modestly increase our 2026 outlook. We also secured an important design win with Mahindra which adds a third Surround ADAS customer and a second customer for our next‑generation SuperVision product.” He added, “In parallel, we achieved significant milestones related to our robotaxi technology stack and our EyeQ6H‑based Supervision L2++ and Chauffer L3 programs with VW group. Continued execution across these programs is key both to converting our advanced product pipeline into future revenue growth and to winning additional customers.”
The results underscore Mobileye’s ability to scale its core ADAS and autonomous driving platforms while managing cost pressures. The guidance lift and share‑repurchase program signal management’s confidence in sustained demand and a strong balance sheet, positioning the company to capitalize on emerging opportunities in the automotive and robotics sectors.
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