Mobileye (MBLY) Q1 2026 Earnings Transcript

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Thu, April 23, 2026 astatine 8:41 AM CDT 41 min read

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Thursday, April 23, 2026 astatine 8 a.m. ET

• Chief Executive Officer — Amnon Shashua

• Chief Financial Officer — Moran Shemesh

• Chief Communications Officer — Daniel V. Galves

• Executive Vice President of Business Development and Strategy — Nimrod Nehushtan

Amnon Shashua: Thank you, Dan. Hello, everyone, and acknowledgment for joining our net call. We delivered precise bully results successful the archetypal quarter. Revenue was up 27% twelvemonth implicit year, adjusted operating income was up 61%, and our operating currency travel was again beardown astatine $75 cardinal contempt moving superior timing that was a humble drag. We person seen upward unit connected request for our EyeQ merchandise for the past respective quarters. That continued successful Q1, and is what we expect for Q2 arsenic well. As a effect of higher measurement and gross successful Q1, we person raised our 2026 outlook toward the precocious extremity of our archetypal guidance, leaving the outlook for the remaining 3 quarters fundamentally unchanged.

The geopolitical and economical situation remains volatile, but based connected our visibility for Q2, we judge determination is capable conservatism baked into the 2nd half. Diving deeper into the drivers of our business, our ADAS concern is precise beardown with precise precocious margins and currency generation. Design wins implicit the past respective years person secured our presumption with our main customers implicit the agelong term. India looks similar a meaningful maturation opportunity, and our absorption implicit the past mates years connected supporting Chinese OEMs connected their export ambitions is paying dividends. Finally, the Surround ADAS conception gives america the accidental to regenerate galore of these basal ADAS programs with overmuch higher mean selling prices implicit time.

On our precocious merchandise portfolio, the existent precedence remains execution, and that is going precise well. We person a fig of accumulation programs moving successful parallel, 2 of which commencement accumulation successful the comparative adjacent term. These are SuperVision with Porsche, and the DRIVE robotaxi with MOIA, the Volkswagen Group's autonomy division. For some programs, Mobileye Global Inc. is liable for the improvement of broad precocious ADAS and autonomy platforms integrating hardware, software, data, and maps into a implicit strategy that indispensable beryllium provably safe, predictable, and verifiable. These solutions request to conscionable tens of thousands of requirements acceptable by the automaker and request to beryllium homologated to automotive-grade standards.

Each programme gives america the quality to beryllium that Mobileye Global Inc. is the person successful processing and executing analyzable AI-based systems successful the carnal satellite astatine planetary scale. Systems that tin beryllium validated nether strict standards, thing that galore companies speech about, but fewer too america are really executing connected this vision. Specific updates arsenic it relates to SuperVision are arsenic follows. Progress is beardown with show tracking good to our objectives. As a factual example, six weeks ago, we had the archetypal OEM-directed drives successful the U.S. for this system, having lone tested successful Germany and Israel previously.