8-K
Mobileye Global Inc. (MBLY)
UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) oftheSecurities Exchange Act of 1934
Date of report (Date of earliest event reported):January 22, 2026
Mobileye Global Inc.
(Exact Name of the Registrant as Specified in Charter)
| Delaware | 001-41541 | 88-0666433 |
|---|---|---|
| (State or Other Jurisdiction<br><br> <br>of Incorporation) | (CommissionFile Number) | (IRS Employer<br><br> <br>Identification No.) |
| c/o Mobileye B.V. Har Hotzvim, 1 Shlomo Momo HaLevi Street Jerusalem, Israel<br><br> <br>(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<br>to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ¨ | Soliciting material pursuant to<br>Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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| ¨ | Pre-commencement communications<br>pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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| ¨ | Pre-commencement communications<br>pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
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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 FinancialCondition.
On January 22, 2026 Mobileye Global Inc. issued a press release announcing its financial results for the quarter and year ended December 27, 2025. 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<br> Mobileye Global Inc. on January 22, 2026 |
| 104 | Cover Page Interactive<br> 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: January 22, 2026
Exhibit 99.1
Mobileye ReleasesFourth-Quarter and Full-Year 2025 Results and Provides Business Overview
| ● | Mobileye<br> enters 2026 with strong strategic and commercial momentum, highlighted by a new high-volume<br> Surround ADAS program win with a major U.S. OEM and an expanded roadmap for robotaxi services<br> with Volkswagen, reinforcing growing demand for the company’s advanced product portfolio. |
|---|---|
| ● | Full<br> year 2025 revenue increased 15% year-over-year to $1,894 million. A decrease of 9% year-over-year<br> in the fourth quarter, combined with better-than-expected automotive production led to tighter<br> than normal year-end inventory at customers. |
| --- | --- |
| ● | Generated<br> $602 million of net cash from operating activities in 2025, up 51% from 2024, underscoring<br> the strength and resilience of Mobileye’s operating model. The company ended the year<br> with $1.8 billion in cash and cash equivalents, excluding the expected $612 million cash<br> outlay for the Mentee Robotics acquisition at closing. |
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| ● | Full-year<br> 2026 financial guidance implies flat to 5% year-over-year revenue growth, including approximately<br> 19% year-over-year revenue growth expected in the first quarter of 2026. |
| --- | --- |
| ● | Diluted<br> EPS (GAAP) was $(0.16) and Adjusted Diluted EPS (Non-GAAP) was $0.06 in the fourth quarter<br> of 2025. |
| --- | --- |
| ● | Agreed to acquire Mentee Robotics,<br> a transformative step that expands Mobileye’s leadership in Physical AI across autonomous<br> vehicles and humanoid robotics. |
| --- | --- |
JERUSALEM – Jan. 22, 2026 – Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today released its financial results for the three months and for the year ended December 27, 2025.
“I am proud of the Mobileye team for delivering 2025 results that were well above our initial expectations. We enter 2026 with strong momentum and a cash-generative business that enables us to fund continued investment in advanced product execution across our portfolio,” said Mobileye President and CEO Prof. Amnon Shashua. “Our ambition is to be a comprehensive leader in Physical AI, encompassing both autonomous vehicles and humanoid robotics. Our automotive product roadmap is positioned to capitalize on rising demand for cost-efficient, single-ECU hands-free systems for high-volume vehicles as well as self-driving systems for commercial robotaxi services.”
Fourth Quarter and Full-Year 2025Business Highlights
| ● | Mobileye’s<br> 8-year future expected automotive revenue pipeline reached $24.5 billion at year-end 2025,<br> a 42% increase since the prior update as of year-end 2022. Growth reflects broad-based commercial<br> momentum, including follow-on base ADAS wins with all top-10 customers, the addition of two<br> new OEMs to the ADAS customer base, significant expansion of Mobileye’s advanced portfolio<br> within VW Group brands, rising interest in the new Surround ADAS category, and strengthening<br> global demand for autonomous robotaxi services^1^. |
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| ● | We<br> were recently awarded a high-volume Surround ADAS program with a major U.S. OEM, expected<br> to deploy the EyeQ6 High processor and Mobileye’s software stack across a wide range<br> of price and model segments within the OEM’s upcoming software-defined vehicle architecture.<br> Future expected volume from Mobileye’s first two Surround ADAS customers now totals<br> 19 million units, with additional OEM engagements progressing well and expected to convert<br> in 2026. |
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| ● | Volkswagen<br> Autonomous Mobility outlined an expansion of its robotaxi roadmap at CES 2026, targeting<br> commercial robotaxi services across 6 cities by the end of 2027 and a fleet of more than<br> 100,000 self-driving vehicles by the end of 2033. This expansion is supported by Mobileye’s<br> continued advancement toward safety driver removal and commercialization beginning in 2026. |
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| ● | Mobileye<br> agreed to acquire Mentee Robotics in a transaction expected to close in the first quarter<br> of 2026. The acquisition extends Mobileye’s market reach beyond automotive autonomy<br> into the complementary field of humanoid robotics, establishing a unified Physical AI portfolio<br> built on scalable engineering, safety-by-design, and deep AI model development capabilities. |
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^1^Mobileye’s revenue for the periods presented represent estimated volumes 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. See the disclaimer under the heading “Forward-Looking Statements” below for important limitations applicable to these estimates.
Fourth Quarter 2025 Financial Summaryand Key Highlights (Unaudited)
| GAAP | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| U.S. dollars in millions | Q4 2025 | Q4 2024 | % Y/Y | ||||||
| Revenue | $ | 446 | $ | 490 | (9 | )% | |||
| Gross Profit | $ | 202 | $ | 241 | (16 | )% | |||
| Gross Margin | 45 | % | 49 | % | (389 | )bps | |||
| Operating Income (Loss) | $ | (140 | ) | $ | (86 | ) | (63 | )% | |
| Operating Margin | (31 | )% | (18 | )% | (14 | )% | |||
| Net Income (Loss) | $ | (127 | ) | $ | (71 | ) | (79 | )% | |
| EPS - Basic | $ | (0.16 | ) | $ | (0.09 | ) | (78 | )% | |
| EPS - Diluted | $ | (0.16 | ) | $ | (0.09 | ) | (78 | )% | |
| Non-GAAP | |||||||||
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| U.S. dollars in millions | Q4 2025 | Q4 2024 | % Y/Y | ||||||
| Revenue | $ | 446 | $ | 490 | (9 | )% | |||
| Adjusted Gross Profit | $ | 298 | $ | 336 | (11 | )% | |||
| Adjusted Gross Margin | 67 | % | 69 | % | (176 | )bps | |||
| Adjusted Operating Income (Loss) | $ | 41 | $ | 101 | (59 | )% | |||
| Adjusted Operating Margin | 9 | % | 21 | % | (1,142 | )bps | |||
| Adjusted Net Income (Loss) | $ | 45 | $ | 107 | (58 | )% | |||
| Adjusted EPS - Basic | $ | 0.06 | $ | 0.13 | (58 | )% | |||
| Adjusted EPS - Diluted | $ | 0.06 | $ | 0.13 | (58 | )% | |||
| ● | Revenue<br> of $446 million decreased 9% as compared to the fourth quarter of 2024, primarily due to<br> an 11% reduction in EyeQ SoC volumes. This was primarily related to a balancing of supply<br> and demand that resulted in tighter-than-normal inventory levels at our Tier 1 customers<br> exiting 2025. | ||||||||
| --- | --- | ||||||||
| ● | Average<br> System Price was $50.8 in the fourth quarter of 2025, compared to $50.0 in the prior year period<br> primarily due to a higher percentage of SuperVision-related revenue as compared to the fourth<br> quarter of 2024. | ||||||||
| --- | --- | ||||||||
| ● | Gross<br> Margin decreased by nearly 4 percentage points in the fourth quarter of 2025 as compared<br> to the prior year period. The decrease was due to the impact of the cost attributable to<br> amortization of intangible assets which was similar to the prior year but on a lower revenue<br> base, in addition to a higher EyeQ-related cost per unit given the different mix of EyeQ<br> products sold. | ||||||||
| --- | --- | ||||||||
| ● | Adjusted<br> Gross Margin (a non-GAAP measure) was 67% in the fourth quarter of 2025 compared to 69% in<br> the prior year period. This was mainly due to a higher EyeQ-related cost per unit given the<br> different mix of EyeQ products sold. | ||||||||
| --- | --- | ||||||||
| ● | Operating<br> Margin of (31%) decreased by 14 percentage points in the fourth quarter of 2025 as compared<br> to the prior year period. In addition to the gross margin decrease described above, this<br> was due to higher operating expenses compared to the prior year period on a lower revenue<br> base. | ||||||||
| --- | --- | ||||||||
| ● | Adjusted<br> Operating Margin (a non-GAAP measure) of 9% decreased by 11 percentage points in the fourth<br> quarter of 2025 as compared to the prior year period. In addition to the adjusted gross margin<br> decrease described above, this was due to higher operating expenses compared to the prior<br> year period on a lower revenue base. | ||||||||
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| ● | Operating<br> cash flow for the year ended December 27, 2025 was $602 million. Cash used in purchases<br> of property and equipment was $79 million for that same period. | ||||||||
| --- | --- |
Financial Guidance for the 2026 FiscalYear
The following information reflects Mobileye’s expectations for the year ending December 26, 2026.
Note that our full-year 2026 revenue and adjusted operating income guidance assumes consolidation of Mentee Robotics into Mobileye’s results based on expected closing during the first quarter of 2026. The inclusion resulted in no impact to revenue and an expected impact to adjusted operating expenses representing a low-single-digit percentage of our total expected adjusted operating expenses in 2026. Until closing, non-cash impacts to Share-Based Compensation and Amortization of Intangible Assets related to the agreement to acquire Mentee Robotics are not able to be estimated with precision and therefore we are providing guidance only on a non-GAAP basis at this time. We will initiate full-year guidance for GAAP Operating Income (Loss) at the time of the first quarter of 2026 earnings call.
We believe Adjusted Operating Income (Loss) (a non-GAAP metric) is an appropriate metric as it excludes significant non-cash expenses including: 1) Amortization charges related to intangible assets; and 2) Share-based compensation expense. 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.
| Full Year 2026 | ||||
|---|---|---|---|---|
| U.S. dollars in millions | Low | High | ||
| Revenue | $ | 1,900 | $ | 1,980 |
| Adjusted Operating Income | $ | 170 | $ | 220 |
Earnings Conference Call WebcastInformation
Mobileye will host a conference call today, January 22, 2026, at 8:00am ET (3:00pm 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 (Loss) and Margin, Adjusted Net Income (Loss) 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 income (loss) presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation 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 (Loss) divided by total revenue. We define Adjusted Net Income (Loss) as net income (loss) presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation expense, impairment of goodwill, as well as 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 (Loss) 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 independently 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 non-GAAP financial measures to the most directly comparable financial measures 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. Reconciliation of Adjusted Operating Income guidance to the most directly comparable GAAP measure is not available without unreasonable efforts on a forward-looking basis.
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, mapping, and integrated software and hardware. Since our founding in 1999, Mobileye has enabled the wide adoption of advanced driver-assistance systems that bolster driving safety, while pioneering such groundbreaking technologies as REM™ crowdsourced mapping, True Redundancy™ sensing, and Responsibility Sensitive Safety™ (RSS). 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 advanced driver-assistance systems. Through 2025, more than 230 million vehicles worldwide have been built with Mobileye’s EyeQ technology inside. 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 expectations and information regarding the development of robotics and AI capabilities, the impact of robotics and AI development on Mobileye’s business, the acquisition of Mentee Robotics, the closing of such transaction, and the impact of such acquisition on Mobileye’s business, program goals and expansion of our partnership with the VW Group, possible or assumed future results of operations, including Mobileye’s 2026 full-year guidance, projected future revenue and descriptions of our future 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: the robotics technology and industry may not develop as expected; further deterioration of macroeconomic conditions due to ongoing global economic and political uncertainty; future business, social and environmental 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; future products and technology, and the expected availability and benefits of such products and technology; 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; 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; and tax- and accounting-related expectations.
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 28, 2024, 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.
Full Year 2025 Financial Results
Mobileye Global Inc.
Consolidated Statements of Operations(unaudited)
| U.S. dollars in millions, except | Three Months Ended | Year Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| share and per share data | December 27,<br> 2025 | December 28, 2024 | December 27,<br> 2025 | December 28, 2024 | ||||||||
| Revenue | $ | 446 | $ | 490 | $ | 1,894 | $ | 1,654 | ||||
| Cost of revenue | 244 | 249 | 990 | 913 | ||||||||
| Gross profit | 202 | 241 | 904 | 741 | ||||||||
| Research and development, net | 290 | 281 | 1,151 | 1,083 | ||||||||
| Sales and marketing | 28 | 28 | 113 | 118 | ||||||||
| General and administrative | 24 | 18 | 80 | 70 | ||||||||
| Goodwill impairment | — | — | — | 2,695 | ||||||||
| Total operating expenses | 342 | 327 | 1,344 | 3,966 | ||||||||
| Operating income (loss) | (140 | ) | (86 | ) | (440 | ) | (3,225 | ) | ||||
| Financial income (expense), net | 15 | 18 | 63 | 62 | ||||||||
| Income (loss) before income taxes | (125 | ) | (68 | ) | (377 | ) | (3,163 | ) | ||||
| Benefit (provision) for income taxes | (2 | ) | (3 | ) | (15 | ) | 73 | |||||
| Net income (loss) | $ | (127 | ) | $ | (71 | ) | $ | (392 | ) | $ | (3,090 | ) |
| Earnings (loss) per attributed to Class A and Class B stockholders: | ||||||||||||
| Basic and diluted | $ | (0.16 | ) | $ | (0.09 | ) | $ | (0.48 | ) | $ | (3.82 | ) |
| Weighted-average number of shares used in computation of earnings (loss) per share attributed to Class A and Class B stockholders (in millions): | ||||||||||||
| Basic | 814 | 811 | 813 | 809 | ||||||||
| Diluted | 814 | 811 | 813 | 809 |
Mobileye Global Inc.
Consolidated Balance sheets (unaudited)
| U.S. dollars in millions | December 27, 2025 | December 28, 2024 | ||
|---|---|---|---|---|
| Assets | ||||
| Current assets | ||||
| Cash and cash equivalents | $ | 1,836 | $ | 1,426 |
| Trade accounts receivable, net | 131 | 212 | ||
| Inventories | 327 | 415 | ||
| Other current assets | 184 | 121 | ||
| Total current assets | 2,478 | 2,174 | ||
| Non-current assets | ||||
| Property and equipment, net | 473 | 458 | ||
| Intangible assets, net | 1,166 | 1,609 | ||
| Goodwill | 8,200 | 8,200 | ||
| Other long-term assets | 175 | 138 | ||
| Total non-current assets | 10,014 | 10,405 | ||
| TOTAL ASSETS | $ | 12,492 | $ | 12,579 |
| Liabilities and Equity | ||||
| Current liabilities | ||||
| Accounts payable and accrued expenses | $ | 228 | $ | 190 |
| Employee related accrued expenses | 141 | 105 | ||
| Related party payable | 4 | 4 | ||
| Other current liabilities | 33 | 34 | ||
| Total current liabilities | 406 | 333 | ||
| Non-current liabilities | ||||
| Long-term employee benefits | 78 | 62 | ||
| Deferred tax liabilities | 60 | 47 | ||
| Other long-term liabilities | 67 | 50 | ||
| Total non-current liabilities | 205 | 159 | ||
| TOTAL LIABILITIES | $ | 611 | $ | 492 |
| TOTAL EQUITY | 11,881 | 12,087 | ||
| TOTAL LIABILITIES AND EQUITY | $ | 12,492 | $ | 12,579 |
Mobileye Global Inc.
Consolidated Cash Flows (unaudited)
| Year Ended | ||||||
|---|---|---|---|---|---|---|
| U.S. dollars in millions | December 27,<br> 2025 | December 28,<br> 2024 | ||||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||||||
| Net income (loss) | $ | (392 | ) | $ | (3,090 | ) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||||||
| Depreciation of property and equipment | 74 | 62 | ||||
| Share-based compensation | 277 | 279 | ||||
| Amortization of intangible assets | 443 | 444 | ||||
| Goodwill impairment | — | 2,695 | ||||
| Exchange rate differences on cash and cash equivalents | (17 | ) | 2 | |||
| Deferred income taxes | (15 | ) | (101 | ) | ||
| (Gains) losses on equity and debt investments, net | (1 | ) | (3 | ) | ||
| Other | 9 | — | ||||
| Changes in operating assets and liabilities: | ||||||
| Decrease (increase) in trade accounts receivable | 81 | 124 | ||||
| Decrease (increase) in other current assets | (16 | ) | 15 | |||
| Decrease (increase) in inventories | 89 | (24 | ) | |||
| Decrease (increase) in other long-term assets | (13 | ) | (11 | ) | ||
| Increase (decrease) in accounts payable, accrued expenses and related party payable | 26 | (29 | ) | |||
| Increase (decrease) in employee-related accrued expenses and long-term benefits | 52 | 25 | ||||
| Increase (decrease) in other current liabilities | (5 | ) | 6 | |||
| Increase (decrease) in other long-term liabilities | 10 | 6 | ||||
| Net cash provided by operating activities | 602 | 400 | ||||
| CASH FLOWS FROM INVESTING ACTIVITIES | ||||||
| Purchase of property and equipment | (79 | ) | (81 | ) | ||
| Purchases of debt and equity investments | (106 | ) | (62 | ) | ||
| Maturities and sales of debt and equity investments | 94 | 23 | ||||
| Net cash used in investing activities | (91 | ) | (120 | ) | ||
| CASH FLOWS FROM FINANCING ACTIVITIES | ||||||
| Share-based compensation recharge | (6 | ) | (66 | ) | ||
| Repurchase of common stock from Parent | (100 | ) | — | |||
| Net cash used in financing activities | (106 | ) | (66 | ) | ||
| Effect of foreign exchange rate changes on cash and cash equivalents | 17 | (2 | ) | |||
| Increase in cash, cash equivalents and restricted cash | 422 | 212 | ||||
| Balance of cash, cash equivalents and restricted cash, at beginning of year | 1,438 | 1,226 | ||||
| Balance of cash, cash equivalents and restricted cash, at end of year | $ | 1,860 | $ | 1,438 |
Mobileye Global Inc.
Reconciliation of GAAP Gross Profitand Margin to Non-GAAP Adjusted Gross Profit and Margin^2^ (unaudited)
| Three<br> Months Ended | Year<br> Ended | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. dollars<br> in millions | December 27,<br> 2025 | December 28,<br> 2024 | December 27,<br> 2025 | December 28,<br> 2024 | ||||||||||||||||
| Amount | %<br> of<br><br> Revenue | Amount | %<br> of<br><br> Revenue | Amount | %<br> of<br><br> Revenue | Amount | %<br> of<br><br> Revenue | |||||||||||||
| Gross Profit and<br> Margin | $ | 202 | 45 | % | $ | 241 | 49 | % | $ | 904 | 48 | % | $ | 741 | 45 | % | ||||
| Add: Amortization of acquired<br> intangible assets | 95 | 21 | % | 94 | 19 | % | 377 | 20 | % | 376 | 23 | % | ||||||||
| Add: Share-based<br> compensation expense | 1 | — | % | 1 | — | % | 2 | — | % | 2 | — | % | ||||||||
| Adjusted<br> Gross Profit and Margin | $ | 298 | 67 | % | $ | 336 | 69 | % | $ | 1,283 | 68 | % | $ | 1,119 | 68 | % |
^2^Adjusted Gross Margin is calculated as Adjusted Gross Profit as a percentage of revenue
Mobileye Global Inc.
Reconciliation of GAAP OperatingIncome (Loss) and Margin to Non-GAAP Adjusted Operating Income (Loss) and Margin^3^ (unaudited)
| Three<br> Months Ended | Year<br> Ended | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. dollars<br> in millions | December 27,<br> 2025 | December 28,<br> 2024 | December 27,<br> 2025 | December 28,<br> 2024 | ||||||||||||||||||||
| Amount | %<br> of<br><br> Revenue | Amount | %<br> of<br><br> Revenue | Amount | %<br> of<br><br> Revenue | Amount | %<br> of<br><br> Revenue | |||||||||||||||||
| Operating Income<br> (Loss) and Margin | $ | (140 | ) | (31 | )% | $ | (86 | ) | (18 | )% | $ | (440 | ) | (23 | )% | $ | (3,225 | ) | (195 | )% | ||||
| Add: Amortization of acquired<br> intangible assets | 110 | 25 | % | 111 | 23 | % | 443 | 23 | % | 444 | 27 | % | ||||||||||||
| Add: Share-based compensation<br> expense | 71 | 16 | % | 76 | 16 | % | 277 | 15 | % | 279 | 17 | % | ||||||||||||
| Add: Goodwill<br> impairment | — | — | % | — | — | % | — | — | % | 2,695 | 163 | % | ||||||||||||
| Adjusted<br> Operating Income (Loss) and Margin | $ | 41 | 9 | % | $ | 101 | 21 | % | $ | 280 | 15 | % | $ | 193 | 12 | % |
^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 (Loss) (unaudited)
| Three Months Ended | Year Ended | |||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| U.S. dollars in millions | December 27, 2025 | December 28, 2024 | December 27, 2025 | December 28, 2024 | ||||||||||||||||||||
| Amount | % of<br><br> Revenue | Amount | % of<br><br> Revenue | Amount | % of<br><br> Revenue | Amount | % of<br><br> Revenue | |||||||||||||||||
| Net Income (Loss) | $ | (127 | ) | (28 | )% | $ | (71 | ) | (14 | )% | $ | (392 | ) | (21 | )% | $ | (3,090 | ) | (187 | )% | ||||
| Add: Amortization of acquired intangible assets | 110 | 25 | % | 111 | 23 | % | 443 | 23 | % | 444 | 27 | % | ||||||||||||
| Add: Share-based compensation expense | 71 | 16 | % | 76 | 16 | % | 277 | 15 | % | 279 | 17 | % | ||||||||||||
| Add: Goodwill impairment | — | — | % | — | — | % | — | — | % | 2,695 | 163 | % | ||||||||||||
| Less: Income tax effects | (9 | ) | (2 | )% | (9 | ) | (2 | )% | (42 | ) | (2 | )% | (123 | ) | (7 | )% | ||||||||
| Adjusted Net Income (Loss) | $ | 45 | 10 | % | $ | 107 | 22 | % | $ | 286 | 15 | % | $ | 205 | 12 | % |
Supplemental Information - AverageSystem Price^4^
| Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|
| EyeQ and SuperVision revenue (U.S. dollars in millions) | $ | 464 | $ | 415 | $ | 481 | $ | 478 | $ | 420 |
| Number of systems shipped (in millions) | 9.3 | 8.5 | 9.7 | 9.2 | 8.3 | |||||
| Average system price (U.S. dollars) | $ | 50.0 | $ | 49.0 | $ | 49.7 | $ | 51.7 | $ | 50.8 |
^4^ Average System Price is calculated as the sum of revenue related to EyeQ™ 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