Autotech company Mobileye (Nasdaq: MBLY) beat analysts’ estimates on both revenue and earnings in the first quarter. Revenue in the first quarter came in at $558 million, 27.4% more than in the corresponding quarter of 2025.
On a GAAP basis, the company posted a net loss of $3.8 billion in the quarter. This, the company explained, was because of a “non-cash goodwill impairment of $3,788 million related to the goodwill asset on Mobileye’s balance sheet resulting from Intel’s acquisition of Mobileye in 2017.” On a non-GAAP basis, Mobileye posted a net profit of $96 million, 52.4% higher than in the corresponding quarter. Non-GAAP earnings per share were $0.12, which compares with market estimates of $0.09.
Mobileye has raised its annual guidance, and now expects revenue of $1.935-2.015 billion, a GAAP-based operating loss of $4.281-4.331 billion, and an adjusted operating profit of $185-235 million for the year. The previous guidance was for revenue of $1.9-1.98 billion and an adjusted operating profit of $170-220 million.
Company founder and CEO Amnon Shashua said, “”First quarter results reflected a stronger than expected start to 2026, and continued favorable demand trends enable us to modestly increase our 2026 outlook. We also secured an important design win with Mahindra which adds a third Surround ADAS customer and a second customer for our next-generation SuperVision product.
“In parallel, we achieved significant milestones related to our robotaxi technology stack and our EyeQ6H-based Supervision L2++ and Chauffer L3 programs with VW group. Continued execution across these programs is key both to converting our advanced product pipeline into future revenue growth and to winning additional customers.”
Up to yesterday’s close, Mobileye’s share price was down 24% for the year to date, although it had climbed 20% since the low it reached in March. The company’s market cap was $6.6 billion. At today’s opening on Nasdaq, the share price is up 7.17% at $8.47, raising the company’s market cap to $7.12 billion.
Mobileye annouced a share buyback program of up to $250 million. The company says that this “demonstrates both the leadership team and Board of Directors’ confidence in the Company’s current products as well as its position as a leader in the development and deployment of advanced driver assistance systems, autonomous driving solutions, and complex physical AI systems at scale.”
On the buyback program, Shashua said, “Our primary capital allocation priority remains investing in R&D and capital expenditures to support innovation and execute on our expanding product roadmap. At the same time, given our strong balance sheet and ongoing cash generation, we believe allocating a portion of our cash flow towards share repurchases at current valuation levels is a prudent step that underscores our confidence in the durability and future growth of our business.”
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Another use Mobileye has made of its cash is the acquisition of Mentee Robotics, which was announced in January and completed in February. At the end of the first quarter, following completion of the deal and after generating $75 million from regular operations, the company had $1.2 billion cash.
Published by Globes, Israel business news – en.globes.co.il – on April 23, 2026.
© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.
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