Form 8-K
8-K — Mobileye Global Inc.
Accession: 0001104659-26-119830
Filed: 2026-10-29
Period: 2026-10-29
CIK: 0001910139
SIC: 7372 (SERVICES-PREPACKAGED SOFTWARE)
Item: Results of Operations and Financial Condition
Item: Financial Statements and Exhibits
Documents
8-K — tm2628197d1_8k.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (tm2628197d1_ex99-1.htm)
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2026-10-29
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
October 29, 2026
Mobileye Global Inc.
(Exact Name of the Registrant as Specified in Charter)
Delaware
001-41541
88-0666433
(State or Other Jurisdiction
of Incorporation)
(Commission
File Number)
(IRS Employer
Identification No.)
c/o Mobileye B.V.
Har Hotzvim, 1 Shlomo Momo HaLevi Street
Jerusalem, Israel
(Address of Principal Executive Offices)
9777015
(Zip Code)
Registrant’s telephone number, including
area code: +972-2-541-7333
Not Applicable
(Former Name or Former Address, if Changed Since
Last Report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written communications pursuant
to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to
Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications
pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications
pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class:
Trading symbol(s)
Name of exchange on which
registered
Class A common stock, $0.01 par value
MBLY
Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Item 2.02. Results of Operations and Financial
Condition.
On October 29, 2026 Mobileye Global Inc. issued
a press release announcing its financial results for the quarter ended September 26, 2026. A copy of the press release is furnished
as Exhibit 99.1 to this Current Report on Form 8-K.
The information contained in this Current Report
on Form 8-K, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and shall not be deemed incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific
reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
99.1
Press release issued by Mobileye Global Inc. on October 29, 2026
104
Cover Page Interactive Data File (embedded within the inline XBRL document)
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
MOBILEYE GLOBAL INC.
By:
/s/ Moran Shemesh Rojansky
Name:
Moran Shemesh Rojansky
Title:
Chief Financial Officer
Date: October 29, 2026
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: tm2628197d1_ex99-1.htm · Sequence: 2
Exhibit 99.1
Mobileye Releases
Third Quarter 2026 Results, Updates Guidance, and Provides Business Overview
· Revenue
of $492 million in the
third quarter declined by 2% from Q3 2025, while Operating
Loss and Adjusted Operating Income in Q3 2026 improved by 25% and
20%, respectively, year-over-year.
· Diluted
EPS (GAAP) was $(0.08) and Adjusted Diluted EPS (Non-GAAP) was $0.11 in the third
quarter of 2026.
· Full-year
2026 revenue outlook, at the midpoint, increased by $13
million. Range narrowed to $1,995 million
to $2,020 million, implying 5% to
7% year-over-year revenue growth.
· Full-year
2026 guidance for Operating Loss (GAAP) and Adjusted Operating Income (Non-GAAP), at the
midpoint, improved by 0.4% and 1%, respectively.
· Generated
net cash from operating activities of $303 million
in the nine months ended September 26, 2026. Our
balance sheet is strong with $1.5 billion of cash and
cash equivalents, marketable securities and deposits.
JERUSALEM
– October 29, 2026 – Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today released its financial results
for the three months ended September 26, 2026.
“Mobileye
delivered another quarter of strong results from its ADAS products. In the first nine months of 2026, our EyeQ shipment volume was
up 11% compared to 2025. This was well ahead of global automotive production, which declined an estimated 1%,” said Mobileye President
and CEO Prof. Amnon Shashua. “Our multi-year growth opportunity in the consumer-owned vehicle space has two reinforcing drivers:
ADAS reaching more vehicles and Mobileye delivering more value in each vehicle. Recent Surround ADAS and Cloud-Enhanced ADAS design wins
demonstrate our expanding role beyond front-camera perception, creating a path to higher content per vehicle as these programs enter
production. In robotaxi, permits, public deployments and partner vehicle selections mark progress toward commercialization, with driver-out
performance remaining a critical milestone. Our broader participation in the value chain is intended to accelerate deployment and capture
recurring revenue opportunities alongside our capital-light self-driving system supply business.”
Third Quarter 2026 Business Highlights
· Demand for
our EyeQ line of solutions has been robust throughout 2026, enabling us to meaningfully outperform
initial expectations. We expect shipments to our top 10 customers to grow 7% in 2026 (including
changes in safety stock inventory), even as their aggregate vehicle production is expected
to decline 5%. Chinese OEMs are also choosing Mobileye to support their expansion into emerging
markets, where vehicles with standard ADAS are encouraging legacy OEMs to increase ADAS fitment
rates as well.
· Higher-value
L2+ highway hands-free capability is gaining broad market adoption, with Mobility Global
expecting worldwide volume in this segment to grow at an approximate 20% CAGR through the
end of the decade. According to this data, Mobileye’s EyeQ SoC is present in the majority
of vehicles produced in North America and Europe in 2026 within this L2+ segment. New design wins
for Surround ADAS and Cloud-Enhanced ADAS offer two routes to higher content per vehicle:
supplying a broader system or adding software and road intelligence capabilities to an existing
EyeQ program. We recently secured new design wins with a Top 5 global automaker from Asia
and a Top 10 global automaker from Japan for Cloud-Enhanced ADAS (front-camera plus Road
Experience Management (REM)) to support high-volume Level 2+ systems. These two new programs
build on our Q3 announcement of Mobileye’s nomination to supply Cloud-Enhanced ADAS
for select future Stellantis vehicles in the US beginning in 2027. That project was recently
expanded to include European platforms as well. As these, and other previously announced
Surround ADAS and SuperVision programs, enter production, our expanded role creates a path
to higher average selling prices.
· Progress
toward commercial robotaxi deployment continued in Q3 2026 in multiple geographies and across
several vehicle platforms. Our customers began autonomous ridepooling for the public in Hamburg,
Germany with safety drivers, and closed-user group testing began in the greater Orlando,
Florida area. The same geographically adaptable platform was also granted an autonomous driving
permit that enables Holo to publicly deploy in Norway. Additionally, after multiple years
of testing and validation of Mobileye-equipped vehicles, Deutsche Bahn chose HOLON Urban,
enabled by Mobileye’s self-driving system, as their autonomous vehicle of choice to
serve public transit corridors in multiple German regions. As of August, based on data published
by Germany’s Federal Motor Transport Authority, we estimate that vehicles incorporating
Mobileye Drive account for more than 60% of vehicles authorized for Level 4 testing in Germany.
These milestones mark progress from testing toward commercial services, with driver-out performance
remaining critical to scaling deployments.
· Alongside
our capital-light self-driving system supply business, we are advancing our previously announced
expansion into vertically-integrated commercial mobility as a service to accelerate validation
and deployment and capture a larger share of recurring revenue as vehicles generate rider
fares. We are engaging with potential vendors for vehicle platform supply, self-driving-system
installation and upfit, and fleet logistics support. Mobileye invested in the Series B
funding round for Beep, Inc., which closed last month, to support their accelerated
commercial deployment of Autonomous Mobility Networks. Additionally, we have accelerated
Moovit’s execution of its customer-facing app, fleet optimization, and rider engagement
applications. These capabilities support multiple deployment channels, including self-driving-system
collaborations, our own service, and third-party demand generation platforms.
· Mentee Robotics
continues to receive external validation. Nvidia recently recognized MenteeBot as being at
the forefront of embodied AI innovation, developing learning-capable humanoid robots that
continuously adapt and improve in real-world environments. Mentee’s use of NVIDIA’s
Isaac simulation and AI computing platforms accelerates the development of advanced physical
AI capabilities and reinforces the value of our technology and IP.
Third Quarter 2026 Financial Summary
and Key Highlights (Unaudited)
GAAP
U.S. dollars in millions
Q3 2026
Q3 2025
% Y/Y
Revenue
$ 492
$ 504
(2 )%
Gross Profit
$ 261
$ 243
7 %
Gross Margin
53 %
48 %
+483 bps
Operating Income (Loss)
$ (82 )
$ (109 )
25 %
Operating Margin
(17 )%
(22 )%
+496 bps
Net Income (Loss)
$ (67 )
$ (96 )
30 %
EPS - Basic
$ (0.08 )
$ (0.12 )
31 %
EPS - Diluted
$ (0.08 )
$ (0.12 )
31 %
Non-GAAP
U.S. dollars in millions
Q3 2026
Q3 2025
% Y/Y
Revenue
$ 492
$ 504
(2 )%
Adjusted Gross Profit
$ 314
$ 337
(7 )%
Adjusted Gross Margin
64 %
67 %
(304 )bps
Adjusted Operating Income
$ 89
$ 74
20 %
Adjusted Operating Margin
18 %
15 %
+341 bps
Adjusted Net Income
$ 95
$ 76
25 %
Adjusted EPS - Basic
$ 0.12
$ 0.09
23 %
Adjusted EPS - Diluted
$ 0.11
$ 0.09
23 %
· Revenue of
$492 million decreased 2% compared to the third quarter of 2025, primarily
due to a 5% decrease in average system price mainly attributable
to a higher mix of China OEM export volumes, which carry less software content and therefore
lower pricing, and lower Supervision volumes. Higher EyeQ volumes partially offset these
effects. SuperVision deliveries exceeded our expectations, and the pass-through of higher
memory costs added approximately $7 million to third-quarter revenue at zero gross margin.
· Gross
Margin increased by nearly 5 percentage points in
the third quarter of 2026 as
compared to the prior year period. This was due to a decrease in amortization of intangible
assets as a percentage of revenue, partially offset by a modest reduction in EyeQ ASP mainly
attributable to higher China OEM volumes which carry lower ASP as well as higher EyeQ-related
cost per unit given the different mix of EyeQ products sold.
· Adjusted
Gross Margin decreased in
the third quarter of 2026 by
3 percentage points as compared to the prior year period.
This was primarily due to lower EyeQ ASP, mainly attributable to a higher mix of Chinese
OEM shipments which carry lower ASP as well higher EyeQ-related cost per unit given the different
mix of EyeQ products sold. Higher-than-expected SuperVision volume and the pass-through of
higher memory costs together reduced corporate average gross margin by approximately 100
basis points relative to expectations.
· Operating
Margin as well as Adjusted Operating Margin increased
in the third quarter of 2026 as compared to the prior year period.
The increase was primarily due to an incentive grant recognized
under the Israeli Law for the Encouragement and Incentivization of Research and Development
2026 (“R&D Law”), which was enacted during the second quarter and applies
from the beginning of 2026. During Q3 2026, our GAAP and non-GAAP Operating Income benefited
from the R&D Law incentive grant by $52 million and
$51 million, respectively. On a year-to-date basis, GAAP
and Non-GAAP Operating Income benefited from the R&D Law incentive grant by $162
million and $144 million,
respectively.
· The
R&D Law benefit is expected to extend into future years, subject to future changes in
the law. Quarterly recognition may vary depending on recognition thresholds, qualifying R&D
spending in Israel and exchange rates. Cash receipts associated with the benefit recognized
in 2026 are expected to begin in 2028, approximately two years after accounting recognition.
· Operating
cash flow for the nine months ended September 26, 2026 was $303 million. Cash used in
purchases of property and equipment was $72 million for that same period. Share repurchases
totaled $33 million through the end of Q3 2026, and occurred during the period after the
program was announced on April 23, 2026.
Updated Financial Guidance for the
2026 Fiscal Year
Updated Guidance
Full Year 2026
Previous Guidance
Full Year 2026
U.S. dollars in millions
Low
High
Range
Revenue
$ 1,995
$ 2,020
$1,970 - 2,020
Operating Loss
$ (4,127 )
$ (4,087 )
$(4,154) - (4,094)
Amortization of acquired intangible assets
$ 346
$ 346
346
Share-based compensation expense
$ 385
$ 385
396
R&D Law incentive grant related to ordinary income arising from sales of shares received from the settlement of RSUs (1)
$ (18 )
$ (18 )
(17)
Acquisition related expenses
$ 6
$ 6
6
Goodwill impairment
$ 3,788
$ 3,788
3,788
Adjusted Operating Income
$ 380
$ 420
$365 - 425
Our updated revenue
guidance is increased by 1% at the midpoint, with a narrowed range, compared to the prior guidance. The increase primarily reflects higher-than-expected
SuperVision deliveries and the pass-through of higher memory costs in the third quarter. Our updated guidance also reflects a decrease
in Operating Loss (GAAP) and an increase in Adjusted Operating Income (Non-GAAP), at the midpoint, of 0.4% and 1%, respectively. The
modest conversion of incremental revenue to Adjusted Operating Income reflects SuperVisions’s lower gross margin relative to the
corporate average and the zero-margin memory cost pass-through. Our Adjusted Operating Income outlook continues to include approximately
$190 million from the R&D Law incentive at the midpoint. The foregoing reflects Mobileye’s updated expectations for Revenue,
Operating Loss and Adjusted Operating Income results for the full year 2026.
We
believe Adjusted Operating Income (a non-GAAP metric) is an appropriate metric as it excludes significant non-cash or non-recurring items
including: 1) Amortization charges related to intangible assets consisting of developed technology, customer relationships and brands,
and developed IP as a result of Intel’s acquisition of Mobileye in 2017 and the acquisition of Mentee Robotics in 2026; 2) Share-based
compensation expense; 3) the R&D Law incentive grant related to ordinary income arising from sale of shares received from the settlement
of RSUs; 4) Goodwill impairment; and 5) acquisition-related expenses.
These statements represent forward-looking information and may not represent a financial outlook, and actual results may vary. Please
see the risks and assumptions referred to in the Forward-Looking Statements section of this release.
(1) The R&D
Law incentive grant related to ordinary income arising from sale of shares received from the settlement of RSUs cannot be estimated precisely
because it depends on the actual sale of the shares of common stock issued upon the conversion of RSUs. Accordingly, the 2026 outlook
includes this component only for the first three quarters of 2026.
Earnings Conference Call Webcast
Information
Mobileye will host
a conference call today, October 29, 2026, at 8:00 a.m. ET (2:00 p.m. IT) to review its results and provide a general
business update. The conference call will be accessible live via a webcast on Mobileye’s investor relations site, which can be
found at ir.mobileye.com, and a replay of the webcast will be made available shortly after the event’s conclusion.
Non-GAAP Financial Measures
This press release
contains Adjusted Gross Profit and Margin, Adjusted Operating Income and Margin, Adjusted Net Income and Adjusted EPS, which are financial
measures not presented in accordance with GAAP. We define Adjusted Gross Profit as gross profit presented in accordance with GAAP, excluding
amortization of acquisition related intangibles and share-based compensation expense. Adjusted Gross Margin is calculated as Adjusted
Gross Profit divided by total revenue. We define Adjusted Operating Income (Loss) as operating loss presented in accordance with GAAP,
adjusted to exclude amortization of acquisition related intangibles, share-based compensation expenses, the R&D Law incentive grant
related to ordinary income arising from sale of shares received from the settlement of RSUs, acquisition-related expenses and impairment
of goodwill. Operating Margin is calculated as operating income (loss) divided by total revenue, and Adjusted Operating Margin is calculated
as Adjusted Operating Income divided by total revenue. We define Adjusted Net Income as net loss presented in accordance with GAAP, adjusted
to exclude amortization of acquisition related intangibles, share-based compensation expenses, the R&D Law incentive grant related
to ordinary income arising from sale of shares received from the settlement of RSUs, acquisition-related expenses, impairment of goodwill
and the related income tax effects. Income tax effects have been calculated using the applicable statutory tax rate for each adjustment
taking into consideration the associated valuation allowance impacts. The adjustment for income tax effects consists primarily of the
deferred tax impact of the amortization of acquired intangible assets. Adjusted Basic EPS is calculated by dividing Adjusted Net Income
for the period by the weighted-average number of common shares outstanding during the period. Adjusted Diluted EPS is calculated by dividing
Adjusted Net Income (Loss) by the weighted-average number of common shares outstanding during the period, while giving effect to all
potentially dilutive common shares to the extent they are dilutive.
We use such non-GAAP
financial measures to make strategic decisions, establish business plans and forecasts, identify trends affecting our business, and evaluate
performance. For example, we use these non-GAAP financial measures to assess our pricing and sourcing strategy, in the preparation of
our annual operating budget, and as a measure of our operating performance. We believe that these non-GAAP financial measures, when taken
collectively, may be helpful to investors because they allow for greater transparency into what measures our management uses in operating
our business and measuring our performance, and enable comparison of financial trends and results between periods where items may vary
independent of business performance. The non-GAAP financial measures are presented for supplemental informational purposes only, should
not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled
non-GAAP measures used by other companies. A reconciliation is provided below for each non-GAAP financial measure to the most directly
comparable financial measure presented in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures
and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.
About Mobileye Global Inc.
Mobileye (Nasdaq:
MBLY) leads the mobility revolution with our autonomous driving and driver-assistance technologies, harnessing world-renowned expertise
in artificial intelligence, computer vision and integrated software and hardware. Since our founding in 1999, Mobileye has enabled the
global adoption of advanced driver-assistance systems that save countless lives and reduce crashes, while pioneering groundbreaking technologies
such as REM™ crowdsourced road intelligence, Imaging Radar and Compound AI. These technologies drive the ADAS and AV fields
towards the future of mobility – enabling self-driving vehicles and mobility solutions at scale, and powering industry-leading
ADAS products. To date, more than 250 million vehicles worldwide have been built with Mobileye’s EyeQ technology inside. In 2026,
Mobileye acquired Mentee Robotics to pursue the future of physical AI and humanoid robots. Since 2022, Mobileye has been listed independently
from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.
“Mobileye,”
the Mobileye logo and Mobileye product names are registered trademarks of Mobileye Global. All other marks are the property of their
respective owners.
Forward-Looking Statements
Mobileye’s
business outlook, guidance and other statements in this release that are not statements of historical fact, including statements about
our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information
concerning possible or assumed future results of operations, including Mobileye’s 2026 full-year
guidance, projected future revenue and descriptions of our business plan and strategies. These statements often include words such as
“anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,”
“estimates,” “targets,” “projects,” “should,” “could,” “would,”
“may,” “will,” “forecast,” or the negative of these terms, and other similar expressions, although
not all forward-looking statements contain these words. We base these forward-looking statements or projections, including Mobileye’s
full-year guidance, on our current expectations, plans and assumptions that we have made in light of our experience in the industry,
as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate
under the circumstances and at such time. You should understand that these statements are not guarantees of performance or results. The
forward-looking statements and projections are subject to and involve risks, uncertainties and assumptions and you should not place undue
reliance on these forward-looking statements or projections. Although we believe that these forward-looking statements and projections
are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our actual financial
results or results of operations and could cause actual results to differ materially from those expressed
in the forward-looking statements and projections.
Important
factors that may materially affect such forward-looking statements and projections include the following: further deterioration of macroeconomic
conditions due to ongoing global economic and political uncertainty; future business, strategic and financial performance, goals and
measures; our anticipated growth prospects and trends in markets and industries relevant to our business; business and investment plans;
expectations about our ability to maintain or enhance our leadership position in the markets in which we participate; future consumer
demand and behavior, including expectations about excess inventory utilization by customers; our ability to effectively compete in the
markets in which we operate; increased competition from emerging chip manufacturers and OEMs; future products and technology, and the
expected availability and benefits of such products and technology; our planned vertically integrated
robotaxi business, including the development, launch, operation, scaling, regulatory approval and commercial acceptance of autonomous
ride-hailing services, may not proceed as expected; the humanoid robotics industry and its accompanying
technology may not develop as expected; development of regulatory frameworks for current and future technology; changes in regulation
and trade policy, including increased tariffs, in regions in which we operate, including the U.S., Europe and China; projected cost and
pricing trends; future production capacity and product supply; potential future benefits and competitive advantages associated with our
technologies and architecture and the data we have accumulated; the future purchase, use and availability of products, components and
services supplied by third parties, including third-party IP and manufacturing services; uncertain events or assumptions, including statements
relating to our estimated vehicle production and market opportunity, potential production volumes associated with design wins and other
characterizations of future events or circumstances; adverse conditions in Israel, including as a result of war and geopolitical conflict,
which may affect our operations and may limit our ability to produce and sell our solutions; transition of our key personnel and leadership,
the timing of any such transition and its anticipated effects on our business; any disruption in our operations by the obligations of
our personnel to perform military service as a result of current or future military actions involving Israel; availability, uses, sufficiency
and cost of capital and capital resources, including expected returns to stockholders such as dividends, and the expected timing of future
dividends; tax and accounting-related expectations; sustained low levels of our share price and market capitalization as well as other
factors may require further testing of our Mobileye reporting unit, which may result in an impairment of goodwill; the ability to meet
our social and environmental goals and projections.
The
estimates included herein are based on projections of future production volumes that were provided by our current and prospective OEMs
at the time of sourcing the design wins for the models related to those design wins. For the purpose of these estimates, we estimated
sales prices based on our management’s estimates for the applicable product bundles and periods. Achieving design wins is not a
guarantee of revenue, and our sales may not correlate with the achievement of additional design wins. Moreover, our pricing estimates
are made at the time of a request for quotation by an OEM (in the case of estimates related to contracted customers), so that worsening
market or other conditions between the time of a request for quotation and an order for our solutions may require us to sell our solutions
for a lower price than we initially expected. These estimates may deviate from actual production volumes and sale prices (which may be
higher or lower than the estimates) and the amounts included for prospective but uncontracted production volumes may never be achieved.
Accordingly, these estimations are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance
on these forward-looking statements or projections.
Detailed
information regarding these and other factors that could affect Mobileye’s business and results is included in Mobileye’s
SEC filings, including the company’s Annual Report on Form 10-K for the year ended December 27, 2025, particularly in
the section entitled “Item 1A. Risk Factors”. Copies of these filings may be obtained by visiting our Investor Relations
website at ir.mobileye.com or the SEC’s website at www.sec.gov.
Third Quarter 2026 Financial Results
Mobileye Global Inc.
Condensed Consolidated Statements
of Operations (unaudited)
Three Months Ended
Nine Months Ended
U.S. dollars in millions, except share and per share data
September 26,
2026
September 27,
2025
September 26,
2026
September 27,
2025
Revenue
$ 492
$ 504
$ 1,558
$ 1,448
Cost of revenue
231
261
787
746
Gross profit
261
243
771
702
Research and development, net
284
304
814
861
Sales and marketing
26
29
82
85
General and administrative
33
19
95
56
Goodwill impairment
—
—
3,788
—
Total operating expenses
343
352
4,779
1,002
Operating income (loss)
(82 )
(109 )
(4,008 )
(300 )
Financial income (expense), net
14
17
41
48
Income (loss) before income taxes
(68 )
(92 )
(3,967 )
(252 )
Benefit (provision) for income taxes
1
(4 )
61
(13 )
Net income (loss)
$ (67 )
$ (96 )
$ (3,906 )
$ (265 )
Earnings (loss) per share attributed to Class A and Class B stockholders:
Basic and diluted
$ (0.08 )
$ (0.12 )
$ (4.77 )
$ (0.33 )
Weighted-average number of shares used in computation of earnings (loss) per share attributed to Class A and Class B stockholders (in millions):
Basic and diluted
824
814
820
813
Mobileye Global Inc.
Condensed Consolidated Balance
sheets (unaudited)
U.S. dollars in millions
September 26, 2026
December 27, 2025
Assets
Current assets
Cash and cash equivalents
$ 1,346
$ 1,836
Marketable securities and deposits
153
55
Trade accounts receivable, net
202
131
Inventories
295
327
Other current assets
110
129
Total current assets
2,106
2,478
Non-current assets
Property and equipment, net
496
473
Intangible assets, net
998
1,166
Goodwill
4,911
8,200
Other long-term assets
371
175
Total non-current assets
6,776
10,014
TOTAL ASSETS
$ 8,882
$ 12,492
Liabilities and Equity
Current liabilities
Accounts payable and accrued expenses
$ 272
$ 228
Employee related accrued expenses
144
141
Related party payable
8
4
Other current liabilities
50
33
Total current liabilities
474
406
Non-current liabilities
Long-term employee benefits
83
78
Deferred tax liabilities
5
60
Other long-term liabilities
91
67
Total non-current liabilities
179
205
TOTAL LIABILITIES
$ 653
$ 611
TOTAL EQUITY
8,229
11,881
TOTAL LIABILITIES AND EQUITY
$ 8,882
$ 12,492
Mobileye Global Inc.
Condensed Consolidated Cash Flows
(unaudited)
Nine Months Ended
U.S. dollars in millions
September 26, 2026
September 27, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)
$ (3,906 )
$ (265 )
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation of property and equipment
64
54
Share-based compensation
271
206
Amortization of intangible assets
296
333
Goodwill impairment
3,788
—
Exchange rate differences on cash and cash equivalents
(9 )
(8 )
Deferred income taxes
(80 )
(16 )
(Gains) losses on equity and debt investments, net
(1 )
—
Other
—
5
Changes in operating assets and liabilities:
Decrease (increase) in trade accounts receivable
(71 )
11
Decrease (increase) in other current assets
12
15
Decrease (increase) in inventories
32
97
Decrease (increase) in other long-term assets
(177 )
(3 )
Increase (decrease) in accounts payable, accrued expenses and related party payable
33
22
Increase (decrease) in employee-related accrued expenses and long-term benefits
7
32
Increase (decrease) in other current liabilities
15
(1 )
Increase (decrease) in other long-term liabilities
29
7
Net cash provided by operating activities
303
489
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment
(72 )
(52 )
Purchases of debt and equity investments
(206 )
(79 )
Maturities and sales of debt and equity investments
104
67
Cash paid for acquisition of Mentee Robotics, net of cash acquired
(591 )
—
Net cash used in investing activities
(765 )
(64 )
CASH FLOWS FROM FINANCING ACTIVITIES
Share-based compensation recharge
*
(2 )
Repurchase of common stock
(33 )
(100 )
Net cash used in financing activities
(33 )
(102 )
Effect of foreign exchange rate changes on cash and cash equivalents
9
8
Increase (decrease) in cash, cash equivalents and restricted cash
(486 )
331
Balance of cash, cash equivalents and restricted cash, at beginning of year
1,860
1,438
Balance of cash, cash equivalents and restricted cash, at end of period
$ 1,374
$ 1,769
* Less than $1
million.
Mobileye Global Inc.
Reconciliation of GAAP Gross Profit
and Margin to Non-GAAP Adjusted Gross Profit and Margin2 (unaudited)
Three
Months Ended
Nine
Months Ended
September 26,
2026
September 27,
2025
September 26,
2026
September 27,
2025
U.S. dollars in millions
Amount
%
of
Revenue
Amount
%
of
Revenue
Amount
%
of
Revenue
Amount
%
of
Revenue
Gross
Profit and Margin
$ 261
53 %
$ 243
48 %
$ 771
49 %
$ 702
48 %
Add: Amortization
of acquired intangible assets
53
11 %
94
19 %
245
16 %
282
19 %
Add:
Share-based compensation expense
—
— %
—
— %
1
— %
1
— %
Adjusted
Gross Profit and Margin
$ 314
64 %
$ 337
67 %
$ 1,017
65 %
$ 985
68 %
2 Adjusted Gross Margin
is calculated as Adjusted Gross Profit as a percentage of revenue
Mobileye Global Inc.
Reconciliation of GAAP Operating
Income (Loss) and Margin to Non-GAAP Adjusted Operating Income and Margin3 (unaudited)
Three
Months Ended
Nine
Months Ended
September 26,
2026
September 27,
2025
September 26,
2026
September 27,
2025
U.S. dollars in millions
Amount
%
of
Revenue
Amount
%
of
Revenue
Amount
%
of
Revenue
Amount
%
of
Revenue
Operating Income
(Loss) and Operating Margin
$ (82 )
(17 )%
$ (109 )
(22 )%
$ (4,008 )
(257 )%
$ (300 )
(21 )%
Add: Amortization of acquired
intangible assets
69
14 %
111
22 %
296
19 %
333
23 %
Add: Share-based compensation
expense
103
21 %
72
14 %
275
18 %
206
14 %
Less: R&D Law incentive grant
related to ordinary income arising from sales of shares received from the settlement of RSUs
(1 )
— %
—
— %
(18 )
(1 )%
—
— %
Add: Acquisition related expenses
—
— %
—
— %
6
— %
—
— %
Add: Goodwill
impairment
—
— %
—
— %
3,788
243 %
—
— %
Adjusted
Operating Income (Loss) and Margin
$ 89
18 %
$ 74
15 %
$ 339
22 %
$ 239
17 %
3
Adjusted Operating Margin is calculated as Adjusted Operating Income (Loss) as a percentage of revenue
Mobileye Global Inc.
Reconciliation of GAAP Net Income
(Loss) to Non-GAAP Adjusted Net Income (unaudited)
Three
Months Ended
Nine
Months Ended
September 26,
2026
September 27,
2025
September 26,
2026
September 27,
2025
U.S. dollars in millions
Amount
%
of
Revenue
Amount
%
of
Revenue
Amount
%
of
Revenue
Amount
%
of
Revenue
Net Income (Loss)
$ (67 )
(14 )%
$ (96 )
(19 )%
$ (3,906 )
(251 )%
$ (265 )
(18 )%
Add: Amortization of acquired
intangible assets
69
14 %
111
22 %
296
19 %
333
23 %
Add: Share-based compensation
expense
103
21 %
72
14 %
275
18 %
206
14 %
Less: R&D Law incentive grant
related to ordinary income arising from sales of shares received from the settlement of RSUs
(1 )
— %
—
— %
(18 )
(1 )%
—
— %
Add: Acquisition related expenses
—
— %
—
— %
6
— %
—
— %
Add: Goodwill impairment
—
— %
—
— %
3,788
243 %
—
— %
Less: Income
tax effects
(9 )
(2 )%
(11 )
(2 )%
(95 )
(6 )%
(33 )
(2 )%
Adjusted
Net Income (Loss)
$ 95
19 %
$ 76
15 %
$ 346
22 %
$ 241
17 %
Supplemental Information - Average
System Price (unaudited) 4
Q3 2025
Q4 2025
Q1 2026
Q2 2026
Q3 2026
EyeQ and SuperVision revenue (U.S. dollars in millions)
$ 478
$ 420
$ 535
$ 485
$ 468
Number of systems shipped (in millions)
9.2
8.3
10.8
10.0
9.5
Average system price (U.S. dollars)
$ 51.7
$ 50.8
$ 49.3
$ 48.5
$ 49.1
4
Average System Price is calculated as the sum of revenue related to EyeQTM and
SuperVision systems, divided by the number of systems shipped.
Contacts
Dan Galves
Investor Relations
investors@mobileye.com
Justin Hyde
Media Relations
justin.hyde@mobileye.com
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