Mobileye Stock Plummets to $5.5 Billion Valuation Amid Revenue Drop
Translated & summarized from Calcalist by baba
Mobileye's stock value has fallen to a low of $5.5 billion after reporting a 2% revenue decrease in the third quarter of 2026. Despite the drop, the company slightly improved its full-year revenue forecast and saw a 20% rise in adjusted operating profit. Founder Amnon Shashua noted an 11% increase in EyeQ chip shipments, and autonomous taxi services are expanding in Germany and Florida.
The story in 5 lines · by baba
- Mobileye's stock value dropped to a low of $5.5 billion following its Q3 2026 financial report.
- Third-quarter revenues decreased by 2% to $492 million compared to the previous year.
- The company slightly raised its 2026 revenue forecast to $1.995-$2.020 billion.
- Adjusted operating profit increased by 20% to $89 million.
- Autonomous taxi services are being deployed in Hamburg, Germany, and tested in Orlando, Florida.
Mobileye's stock experienced a significant decline, reaching a low valuation of $5.5 billion following the release of its third-quarter financial reports for 2026. This marks an almost 40% drop in share value since the beginning of the year. The autonomous vehicle company, founded by Amnon Shashua, reported third-quarter revenues of $492 million, a 2% decrease from $504 million in the same period last year. The company attributes this decline primarily to a 5% reduction in the average price per system, driven by an increased share of products with lower software components destined for Chinese automakers, and a decrease in sales of the SuperVision system. Shipments of EyeQ chips partially offset these impacts.
Despite the revenue dip, Mobileye slightly raised its full-year revenue forecast for 2026 to between $1.995 billion and $2.020 billion, an increase from the previous projection of $1.970 billion to $2.020 billion. This revised range indicates an expected annual revenue growth of 5% to 7%. The company also reported a 20% increase in adjusted operating profit, reaching $89 million, compared to $74 million in the prior year's quarter. Net loss per share (GAAP) was $0.08, an improvement from $0.12 a year ago, while adjusted earnings per share (Non-GAAP) rose to $0.11 from $0.09.
Amnon Shashua, who announced his departure as CEO three months prior, highlighted that EyeQ shipments in the first nine months of 2026 increased by 11% compared to 2025, significantly outpacing the estimated 1% global decline in vehicle production. Mobileye continues to advance its robotaxi operations, with autonomous taxi services for the public now operational in Hamburg, Germany, with safety drivers. Additionally, trials with closed user groups have commenced in the greater Orlando area, Florida, as the company progresses towards commercial deployment of autonomous taxis across various regions and vehicle platforms.
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