Mobileye Q1 revenue falls 48% to $239M; GAAP EPS loss $0.27, adjusted loss $0.07

Mobileye Global Inc.

2024-Q1 EPS reported -$0.27 revenue$239,000,000

Revenue of $239M declined 48% YoY due to inventory drawdown at Tier 1 customers; EyeQ SoC-related revenue dropped 58%.
GAAP gross margin 23% (down 2,260 bps); adjusted gross margin 62% (down 876 bps) on higher SuperVision mix.
Operating cash flow $40M; cash and equivalents $1.2B with zero debt as of March 30, 2024.
Volkswagen Group announced multi-billion dollar award for SuperVision, Chauffeur, and Drive products.
EyeQ6L production-candidate shipments achieved; design wins reached record projected volume of 26M units in Q1.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Mobileye Global Inc. reported first quarter 2024 results: revenue $239 million, net income $(218) million, EPS $(0.27) per diluted share.

Period: first quarter 2024
Revenue: $239 million
Net income: $(218) million
EPS: $(0.27) per diluted share
Result: reported results

Exact text from the filing

2 tm2412284d1_ex99-1.htm EXHIBIT 99.1 Exhibit 99.1 Mobileye Releases First Quarter 2024 Results and Provides Business Overview · Revenue decreased 48% year over year to $239 million in the first quarter due to the significant drawdown of inventory at our Tier 1 customers announced earlier this year. · Diluted EPS (GAAP) was $(0.27) and Adjusted Diluted EPS

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Source: SEC EDGAR

accession 0001104659-24-051512

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