Mobileye Reports Mixed Q3 Results, Raises Annual Outlook
Translated & summarized from Ice by baba
Israeli automotive tech firm Mobileye reported mixed third-quarter 2026 results, with revenues down 2% year-over-year to $492 million but exceeding analyst expectations. The company narrowed its net loss to $67 million and raised its full-year revenue forecast to $1.995-$2.020 billion. Mobileye also noted progress in autonomous vehicle technology and pilot programs in Germany and the US.
The story in 6 lines · by baba
- Mobileye reported Q3 revenues of $492 million, a 2% decrease year-over-year, but beat analyst expectations.
- The company narrowed its net loss to $67 million, down from $96 million in the same quarter last year.
- Adjusted operating profit rose 20% to $89 million, boosted by a $51 million Israeli R&D tax credit.
- Mobileye raised its full-year 2026 revenue forecast to $1.995-$2.020 billion, projecting 5%-7% growth.
- The company saw an 11% increase in EyeQ system deliveries despite a global vehicle production decrease.
- Progress was reported in autonomous taxi services and selection for German public transport vehicles.
Israeli automotive technology company Mobileye, led by CEO Prof. Amnon Shashua, released its third-quarter 2026 financial report on Thursday, revealing a mixed performance. The company reported revenues of $492 million, a slight 2% decrease from $504 million in the same quarter last year, yet this figure surpassed analyst expectations of approximately $477 million. Adjusted earnings per share reached 11 cents, up from nine cents year-over-year and exceeding analyst forecasts of around 10 cents.
While Mobileye continues to report net losses under GAAP accounting, these losses are narrowing. The net loss for the quarter was $67 million, an improvement from $96 million in the prior-year period, with the loss per share shrinking from 12 cents to eight cents. A significant factor contributing to the reported increase in adjusted operating profit, which rose 20% to $89 million from $74 million, was a $51 million accounting credit from an Israeli R&D incentive program. Without this benefit, the adjusted operating profit would have been considerably lower.
The company's gross profit margin also declined from 67% to 64%, attributed to a shift in sales mix and an increased proportion of sales to Chinese customers who purchase systems at lower price points. Despite these challenges, Mobileye has raised its full-year 2026 revenue forecast to between $1.995 billion and $2.020 billion, an upward revision from its previous guidance of $1.970 billion to $2.020 billion. This new range signifies an expected annual growth of 5% to 7%.
Mobileye highlighted strong performance in its core business, noting an 11% increase in delivered EyeQ systems during the first nine months of the year, contrasting with an estimated 1% global decline in vehicle production. The company also reported progress in autonomous taxi services, with pilot operations in Hamburg and testing in Orlando, Florida. Furthermore, its autonomous driving system has been selected for public transport vehicles in Germany. As of the quarter's end, Mobileye held approximately $1.5 billion in cash, deposits, and marketable securities.
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