Results
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.
7Range 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.
1In 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.
“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
2Demand for our EyeQ line of solutions has been robust throughout 2026, enabling us to meaningfully outperform initial expectations.
3We 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.
5Higher-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)
6Revenue 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.
4SuperVision 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.
8On 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
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.
(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.
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.
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.
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.
All other marks are the property of their respective owners.
You should understand that these statements are not guarantees of performance or results.
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.
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.
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.
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