Mobileye revenue decreased 23%

3 February, 2025

Mobileye expects to return to growth: Its financial guidance for 2025 is $1.69-1.81 billion sales. "We look forward to a robust cadence of EyeQ6 High-based product launches beginning in 2026"

Mobileye announced that its revenue decreased 23% year over year to $490 million in the fourth quarter, as compared to the fourth quarter of 2023. The main reason the this weak quarter is a 20% reduction in EyeQ SoC volumes. This was primarily related to the previously disclosed meaningful build-up of inventory at our Tier 1 customers, including in the fourth quarter of 2023. Average System Price was $50.0 in fourth quarter 2024, compared to $52.7 in the prior year period primarily due to lower percentage of SuperVision related revenue as compared to the fourth quarter of 2023.

Operating Margin of (18%) decreased by 29 percentage points in the fourth quarter of 2024 as compared to the prior year period, due to higher operating expenses than the prior year period on a lower revenue base, as well as the gross margin. Mobileye annual 2024 sales totaled $1.65 billion, compared with $2.08 in 2023. The company generated net cash of $400 million in 2024. Its balance sheet is strong with $1.4 billion of cash and cash equivalents and zero debt. Mobileye expects to return to growth this year. Its financial guidance is $1.69-1.81 billion sales in 2025.

Mobileye President and CEO Prof. Amnon Shashua, said the company achieved major technological milestones: “EyeQ6 High System-on-Chip (SoC) is on-track for series production launch and achieves 10x the frame-per-second processing in comparison to EyeQ5 High. We look forward to a robust cadence of EyeQ6 High-based product launches beginning in 2026”.

He revealed that Mobileye imaging radar B-samples achieved outstanding performance across hundreds of OEM tests. “Most importantly, we progressed significantly on the SuperVision, Chauffeur, and Drive projects for VW Group, achieving milestones on the path to start-of-production.”

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