JERUSALEM--(BUSINESS WIRE)--Oct 31, 2024--
Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today released its financial results for the three months ended September 28, 2024.
“We continue to focus on our core strategic objectives for the next two years, which include maintaining and growing our ADAS position outside of domestic China, deepening the relationship with our top 10 customers through advanced product design wins, and executing our EyeQ TM 6-based set of advanced products that leverage historic Mobileye competitive advantages augmented by novel AI approaches,” said Mobileye President and CEO Prof. Amnon Shashua. “While the near-term growth environment remains challenging, our objectives are focused on medium- and long-term opportunities and we expect those to become more evident in the coming months.”
Third Quarter 2024 Business Highlights
Third Quarter 2024 Financial Summary and Key Highlights (Unaudited)
GAAP |
|
|
|
|
|
| ||||
U.S. dollars in millions |
| Q3 2024 |
| Q3 2023 |
| % Y/Y | ||||
Revenue |
| $ | 486 |
|
| $ | 530 |
|
| (8%) |
Gross Profit |
| $ | 237 |
|
| $ | 272 |
|
| (13%) |
Gross Margin |
|
| 49 | % |
|
| 51 | % |
| (256)bps |
Operating Income (Loss) |
| $ | (2,807 | ) |
| $ | 8 |
|
| *NM |
Operating Margin |
|
| (578 | )% |
|
| 2 | % |
| *NM |
Net Income (Loss) |
| $ | (2,715 | ) |
| $ | 17 |
|
| *NM |
EPS - Basic |
| $ | (3.35 | ) |
| $ | 0.02 |
|
| *NM |
EPS - Diluted |
| $ | (3.35 | ) |
| $ | 0.02 |
|
| *NM |
*Not Meaningful
Non-GAAP |
|
|
|
|
|
| ||||
U.S. dollars in millions |
| Q3 2024 |
| Q3 2023 |
| % Y/Y | ||||
Revenue |
| $ | 486 |
|
| $ | 530 |
|
| (8%) |
Adjusted Gross Profit |
| $ | 331 |
|
| $ | 366 |
|
| (10%) |
Adjusted Gross Margin |
|
| 68 | % |
|
| 69 | % |
| (95)bps |
Adjusted Operating Income |
| $ | 78 |
|
| $ | 182 |
|
| (57)% |
Adjusted Operating Margin |
|
| 16 | % |
|
| 34 | % |
| (1,829)bps |
Adjusted Net Income |
| $ | 77 |
|
| $ | 181 |
|
| (57%) |
Adjusted EPS - Basic |
| $ | 0.10 |
|
| $ | 0.22 |
|
| (58%) |
Adjusted EPS - Diluted |
| $ | 0.10 |
|
| $ | 0.22 |
|
| (57%) |
1 These expectations are based on estimated volumes, which are based on projections of future production volumes that were provided by our current and prospective OEMs at the time of sourcing the design wins for the models related to those design wins. Further, achievement of a design win is subject to multiple factors, many of which are outside of Mobileye’s control. Any statement on the timing of a design win is an estimate only and subject to change. See the disclaimer under the heading “Forward-Looking Statements” below for important limitations applicable to these estimates.
2 Average System Price is calculated as the sum of revenue related to EyeQ TM and SuperVision systems, divided by the number of systems shipped.
Financial Guidance for the 2024 Fiscal Year
The following information reflects Mobileye’s expectations for Revenue, Operating Loss and Adjusted Operating Income results for the year ending December 28, 2024. Our guidance, at the midpoint, is unchanged from the expectations last disclosed on August 1, 2024 with the exception of Operating Loss, as a result of the impact of the goodwill impairment listed specifically below.
We believe Adjusted Operating Income (a non-GAAP metric) is an appropriate metric as it excludes significant non-cash expenses including: 1) Amortization charges related to intangible assets consisting of developed technology, customer relationships, and brands as a result of Intel’s acquisition of Mobileye in 2017 and the acquisition of Moovit in 2020; 2) Share-based compensation expense; and 3) Goodwill impairment. These statements represent forward-looking information and may not represent a financial outlook, and actual results may vary. Please see the risks and assumptions referred to in the Forward-Looking Statements section of this release.
|
| Updated Guidance Full Year 2024 |
| ||||||
U.S. dollars in millions |
| Low |
| High |
| ||||
Revenue |
| $ | 1,620 |
|
| $ | 1,660 |
|
|
Operating Loss |
| $ | (3,264 | ) |
| $ | (3,237 | ) |
|
Amortization of acquired intangible assets |
| $ | 444 |
|
| $ | 444 |
|
|
Share-based compensation expense |
| $ | 288 |
|
| $ | 288 |
|
|
Goodwill impairment |
| $ | 2,695 |
|
| $ | 2,695 |
|
|
Adjusted Operating Income |
| $ | 163 |
|
| $ | 190 |
|
|
Earnings Conference Call Webcast Information
Mobileye will host a conference call today, October 31, 2024, at 8:00am ET (2:00pm IT) to review its results and provide a general business update. The conference call will be accessible live via a webcast on Mobileye’s investor relations site, which can be found at ir.mobileye.com, and a replay of the webcast will be made available shortly after the event’s conclusion.
Non-GAAP Financial Measures
This press release contains Adjusted Gross Profit and Margin, Adjusted Operating Income and Margin, Adjusted Net Income and Adjusted EPS, which are financial measures not presented in accordance with GAAP. We define Adjusted Gross Profit as gross profit presented in accordance with GAAP, excluding amortization of acquisition related intangibles and share-based compensation expense. Adjusted Gross Margin is calculated as Adjusted Gross Profit divided by total revenue. We define Adjusted Operating Income (Loss) as operating loss presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation expenses and impairment of goodwill. Operating margin is calculated as Operating Income (Loss) divided by total revenue, and Adjusted Operating Margin is calculated as Adjusted Operating Income divided by total revenue. We define Adjusted Net Income as net loss presented in accordance with GAAP, adjusted to exclude amortization of acquisition related intangibles, share-based compensation expense, impairment of goodwill, as well as the related income tax effects. Income tax effects have been calculated using the applicable statutory tax rate for each adjustment taking into consideration the associated valuation allowance impacts. Adjusted Basic EPS is calculated by dividing Adjusted Net Income for the period by the weighted-average number of common shares outstanding during the period. Adjusted Diluted EPS is calculated by dividing Adjusted Net Income (Loss) by the weighted-average number of common shares outstanding during the period, while giving effect to all potentially dilutive common shares to the extent they are dilutive.
We use such non-GAAP financial measures to make strategic decisions, establish business plans and forecasts, identify trends affecting our business, and evaluate performance. For example, we use these non-GAAP financial measures to assess our pricing and sourcing strategy, in the preparation of our annual operating budget, and as a measure of our operating performance. We believe that these non-GAAP financial measures, when taken collectively, may be helpful to investors because they allow for greater transparency into what measures our management uses in operating our business and measuring our performance, and enable comparison of financial trends and results between periods where items may vary independent of business performance. The non-GAAP financial measures are presented for supplemental informational purposes only, should not be considered a substitute for financial information presented in accordance with GAAP, and may be different from similarly titled non-GAAP measures used by other companies. A reconciliation is provided below for each non-GAAP financial measure to the most directly comparable financial measure presented in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures.
About Mobileye Global Inc.
Mobileye (Nasdaq: MBLY) leads the mobility revolution with its autonomous driving and driver-assistance technologies, harnessing world-renowned expertise in computer vision, artificial intelligence, mapping, and data analysis. Since its founding in 1999, Mobileye has pioneered such groundbreaking technologies as REM™ crowdsourced mapping, True Redundancy™ sensing, and Responsibility Sensitive Safety (RSS). These technologies are driving the ADAS and AV fields towards the future of mobility – enabling self-driving vehicles and mobility solutions, powering industry-leading advanced driver-assistance systems and delivering valuable intelligence to optimize mobility infrastructure. To date, approximately 190 million vehicles worldwide have been built with Mobileye technology inside. In 2022 Mobileye listed as an independent company separate from Intel (Nasdaq: INTC), which retains majority ownership. For more information, visit https://www.mobileye.com.
“Mobileye,” the Mobileye logo and Mobileye product names are registered trademarks of Mobileye Global. All other marks are the property of their respective owners.
Forward-Looking Statements
Mobileye’s business outlook, guidance and other statements in this release that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include information concerning possible or assumed future results of operations, including Mobileye’s 2024 full-year guidance, projected future revenue and descriptions of our business plan and strategies. These statements often include words such as “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast,” or the negative of these terms, and other similar expressions, although not all forward-looking statements contain these words. We base these forward-looking statements or projections, including Mobileye’s full-year guidance, on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances and at such time. You should understand that these statements are not guarantees of performance or results. The forward-looking statements and projections are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections. Although we believe that these forward-looking statements and projections are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our actual financial results or results of operations and could cause actual results to differ materially from those expressed in the forward-looking statements and projections.
Important factors that may materially affect such forward-looking statements and projections include the following: future business, social and environmental performance, goals and measures; our anticipated growth prospects and trends in markets and industries relevant to our business; business and investment plans; expectations about our ability to maintain or enhance our leadership position in the markets in which we participate; future consumer demand and behavior, including expectations about excess inventory utilization by customers; our ability to effectively compete in the markets in which we operate; future products and technology, and the expected availability and benefits of such products and technology; development of regulatory frameworks for current and future technology; changes in regulation and trade policy, including increased tariffs, in regions in which we operate, including the US, Europe and China; projected cost and pricing trends; future production capacity and product supply; potential future benefits and competitive advantages associated with our technologies and architecture and the data we have accumulated; the future purchase, use and availability of products, components and services supplied by third parties, including third-party IP and manufacturing services; uncertain events or assumptions, including statements relating to our estimated vehicle production and market opportunity, potential production volumes associated with design wins and other characterizations of future events or circumstances; effects of the COVID-19 pandemic and responses to future pandemics; adverse conditions in Israel, including as a result of war and geopolitical conflict, which may affect our operations and may limit our ability to produce and sell our solutions; any disruption in our operations by the obligations of our personnel to perform military service as a result of current or future military actions involving Israel; availability, uses, sufficiency and cost of capital and capital resources, including expected returns to stockholders such as dividends, and the expected timing of future dividends; tax- and accounting-related expectations.
The estimates included herein are based on projections of future production volumes that were provided by our current and prospective OEMs at the time of sourcing the design wins for the models related to those design wins. For the purpose of these estimates, we estimated sales prices based on our management’s estimates for the applicable product bundles and periods. Achieving design wins is not a guarantee of revenue, and our sales may not correlate with the achievement of additional design wins. Moreover, our pricing estimates are made at the time of a request for quotation by an OEM (in the case of estimates related to contracted customers), so that worsening market or other conditions between the time of a request for quotation and an order for our solutions may require us to sell our solutions for a lower price than we initial expected. These estimates may deviate from actual production volumes and sale prices (which may be higher or lower than the estimates) and the amounts included for prospective but uncontracted production volumes may never be achieved. Accordingly, these estimations are subject to and involve risks, uncertainties and assumptions and you should not place undue reliance on these forward-looking statements or projections.
Detailed information regarding these and other factors that could affect Mobileye’s business and results is included in Mobileye’s SEC filings, including the company’s Annual Report on Form 10-K for the year ended December 30, 2023, particularly in the section entitled “Item 1A. Risk Factors”. Copies of these filings may be obtained by visiting our Investor Relations website at ir.mobileye.com or the SEC’s website at www.sec.gov.
Third Quarter 2024 Financial Results
Mobileye Global Inc.
Condensed Consolidated Statements of Operations (unaudited)
|
| Three Months Ended |
| Nine months Ended | ||||||||||||
U.S. dollars in millions, except share and per share amounts |
| September 28, 2024 |
| September 30, 2023 |
| September 28, 2024 |
| September 30, 2023 | ||||||||
Revenue |
| $ | 486 |
|
| $ | 530 |
|
| $ | 1,164 |
|
| $ | 1,442 |
|
Cost of revenue |
|
| 249 |
|
|
| 258 |
|
|
| 664 |
|
|
| 739 |
|
Gross profit |
|
| 237 |
|
|
| 272 |
|
|
| 500 |
|
|
| 703 |
|
Research and development, net |
|
| 303 |
|
|
| 218 |
|
|
| 802 |
|
|
| 664 |
|
Sales and marketing |
|
| 28 |
|
|
| 28 |
|
|
| 90 |
|
|
| 90 |
|
General and administrative |
|
| 18 |
|
|
| 18 |
|
|
| 52 |
|
|
| 55 |
|
Goodwill impairment |
|
| 2,695 |
|
|
| — |
|
|
| 2,695 |
|
|
| — |
|
Total operating expenses |
|
| 3,044 |
|
|
| 264 |
|
|
| 3,639 |
|
|
| 809 |
|
Operating income (loss) |
|
| (2,807 | ) |
|
| 8 |
|
|
| (3,139 | ) |
|
| (106 | ) |
Other financial income (expense), net |
|
| 14 |
|
|
| 15 |
|
|
| 44 |
|
|
| 38 |
|
Income (loss) before income taxes |
|
| (2,793 | ) |
|
| 23 |
|
|
| (3,095 | ) |
|
| (68 | ) |
Benefit (provision) for income taxes |
|
| 78 |
|
|
| (6 | ) |
|
| 76 |
|
|
| (22 | ) |
Net income (loss) |
| $ | (2,715 | ) |
| $ | 17 |
|
| $ | (3,019 | ) |
| $ | (90 | ) |
|
|
|
|
|
|
|
|
| ||||||||
Earnings (loss) per share: |
|
|
|
|
|
|
|
| ||||||||
Basic |
| $ | (3.35 | ) |
| $ | 0.02 |
|
| $ | (3.74 | ) |
| $ | (0.11 | ) |
Diluted |
| $ | (3.35 | ) |
| $ | 0.02 |
|
| $ | (3.74 | ) |
| $ | (0.11 | ) |
Weighted-average number of shares used in computation of earnings (loss) per share (in millions): |
|
|
|
|
|
|
|
| ||||||||
Basic |
|
| 811 |
|
|
| 806 |
|
|
| 808 |
|
|
| 804 |
|
Diluted |
|
| 811 |
|
|
| 810 |
|
|
| 808 |
|
|
| 804 |
|
Mobileye Global Inc.
Condensed Consolidated Balance sheets (unaudited)
U.S. dollars in millions |
| September 28, 2024 |
| December 30, 2023 | ||
Assets |
|
|
|
| ||
Current assets: |
|
|
|
| ||
Cash and cash equivalents |
| $ | 1,293 |
| $ | 1,212 |
Trade accounts receivable, net |
|
| 223 |
|
| 357 |
Inventories |
|
| 457 |
|
| 391 |
Other current assets |
|
| 126 |
|
| 106 |
Total current assets |
|
| 2,099 |
|
| 2,066 |
Non-current assets: |
|
|
|
| ||
Property and equipment, net |
|
| 461 |
|
| 447 |
Intangible assets, net |
|
| 1,720 |
|
| 2,053 |
Goodwill |
|
| 8,200 |
|
| 10,895 |
Other long-term assets |
|
| 123 |
|
| 116 |
Total non-current assets |
|
| 10,504 |
|
| 13,511 |
TOTAL ASSETS |
| $ | 12,603 |
| $ | 15,577 |
Liabilities and Equity |
|
|
|
| ||
Current liabilities: |
|
|
|
| ||
Accounts payable and accrued expenses |
| $ | 166 |
| $ | 229 |
Employee related accrued expenses |
|
| 105 |
|
| 87 |
Related party payable |
|
| 53 |
|
| 39 |
Other current liabilities |
|
| 38 |
|
| 48 |
Total current liabilities |
|
| 362 |
|
| 403 |
Non-current liabilities: |
|
|
|
| ||
Long-term employee benefits |
|
| 62 |
|
| 56 |
Deferred tax liabilities |
|
| 50 |
|
| 148 |
Other long-term liabilities |
|
| 51 |
|
| 46 |
Total non-current liabilities |
|
| 163 |
|
| 250 |
TOTAL LIABILITIES |
| $ | 525 |
| $ | 653 |
TOTAL EQUITY |
|
| 12,078 |
|
| 14,924 |
TOTAL LIABILITIES AND EQUITY |
| $ | 12,603 |
| $ | 15,577 |
Mobileye Global Inc.
Condensed Consolidated Cash Flows (unaudited)
|
| Nine months Ended | |||||||
U.S. dollars in millions |
| September 28, 2024 |
| September 30, 2023 |
| ||||
|
|
|
|
|
| ||||
CASH FLOWS FROM OPERATING ACTIVITIES |
|
|
|
|
| ||||
Net income (loss) |
| $ | (3,019 | ) |
| $ | (90 | ) |
|
Adjustments to reconcile net income (loss) to net cash provided by operating activities: |
|
|
|
|
| ||||
Depreciation of property and equipment |
|
| 46 |
|
|
| 24 |
|
|
Share-based compensation |
|
| 203 |
|
|
| 190 |
|
|
Amortization of intangible assets |
|
| 333 |
|
|
| 362 |
|
|
Goodwill impairment |
|
| 2,695 |
|
|
| — |
|
|
Exchange rate differences on cash and cash equivalents |
|
| 2 |
|
|
| 9 |
|
|
Deferred income taxes |
|
| (98 | ) |
|
| (13 | ) |
|
Interest with related party, net |
|
| — |
|
|
| 16 |
|
|
Other |
|
| 1 |
|
|
| (1 | ) |
|
Changes in operating assets and liabilities: |
|
|
|
|
| ||||
Decrease (increase) in trade accounts receivable |
|
| 113 |
|
|
| 6 |
|
|
Decrease (increase) in other current assets |
|
| 7 |
|
|
| 16 |
|
|
Decrease (increase) in inventories |
|
| (66 | ) |
|
| (241 | ) |
|
Increase (decrease) in accounts payable, accrued expenses and related party payable |
|
| (55 | ) |
|
| 21 |
|
|
Increase (decrease) in employee-related accrued expenses and long term benefits |
|
| 24 |
|
|
| (12 | ) |
|
Increase (decrease) in other current liabilities |
|
| 10 |
|
|
| (5 | ) |
|
Decrease (increase) in other long term assets |
|
| (5 | ) |
|
| 3 |
|
|
Increase (decrease) in other long-term liabilities |
|
| 5 |
|
|
| — |
|
|
Net cash provided by (used in) operating activities |
|
| 196 |
|
|
| 285 |
|
|
CASH FLOWS FROM INVESTING ACTIVITIES |
|
|
|
|
| ||||
Purchase of property and equipment |
|
| (68 | ) |
|
| (75 | ) |
|
Purchases of debt and equity investments |
|
| (32 | ) |
|
| — |
|
|
Maturities and sales of debt and equity investments |
|
| 2 |
|
|
| — |
|
|
Net cash provided by (used in) investing activities |
|
| (98 | ) |
|
| (75 | ) |
|
CASH FLOWS FROM FINANCING ACTIVITIES |
|
|
|
|
| ||||
Share-based compensation recharge |
|
| (16 | ) |
|
| (29 | ) |
|
Net cash provided by (used in) financing activities |
|
| (16 | ) |
|
| (29 | ) |
|
Effect of foreign exchange rate changes on cash and cash equivalents |
|
| (2 | ) |
|
| (9 | ) |
|
Increase (decrease) in cash, cash equivalents and restricted cash |
|
| 80 |
|
|
| 172 |
|
|
Balance of cash, cash equivalents and restricted cash, at beginning of year |
|
| 1,226 |
|
|
| 1,035 |
|
|
Balance of cash, cash equivalents and restricted cash, at end of period |
| $ | 1,306 |
|
| $ | 1,207 |
|
|
Mobileye Global Inc.
Reconciliation of GAAP Gross Profit and Margin to Non-GAAP Adjusted Gross Profit and Margin3(unaudited)
| Three Months Ended |
| Nine months Ended | ||||||||||||||||
U.S. dollars in millions | September 28, 2024 |
| September 30, 2023 |
| September 28, 2024 |
| September 30, 2023 | ||||||||||||
| Amount | % of Revenue |
| Amount | % of Revenue |
| Amount | % of Revenue |
| Amount | % of Revenue | ||||||||
Gross Profit | $ | 237 | 49 | % |
| $ | 272 | 51 | % |
| $ | 500 | 43 | % |
| $ | 703 | 49 | % |
Add: Amortization of acquired intangible assets |
| 94 | 19 | % |
|
| 94 | 18 | % |
|
| 282 | 24 | % |
|
| 311 | 22 | % |
Add: Share-based compensation expense |
| — | — | % |
|
| — | — | % |
|
| 1 | — | % |
|
| 2 | — | % |
Adjusted Gross Profit | $ | 331 | 68 | % |
| $ | 366 | 69 | % |
| $ | 783 | 67 | % |
| $ | 1,016 | 70 | % |
3 Adjusted gross margin is calculated as adjusted gross profit as a percentage of revenue
Mobileye Global Inc.
Reconciliation of GAAP Operating Income (loss) and Margin to Non-GAAP Adjusted Operating Income and Margin4(unaudited)
| Three Months Ended |
| Nine months Ended | |||||||||||||||||||
U.S. dollars in millions | September 28, 2024 |
| September 30, 2023 |
| September 28, 2024 |
| September 30, 2023 | |||||||||||||||
| Amount | % of Revenue |
| Amount | % of Revenue |
| Amount | % of Revenue |
| Amount | % of Revenue | |||||||||||
Operating Income (Loss) | $ | (2,807 | ) | (578 | %) |
| $ | 8 | 2 | % |
| $ | (3,139 | ) | (270 | %) |
| $ | (106 | ) | (7 | %) |
Add: Amortization of acquired intangible assets |
| 111 |
| 23 | % |
|
| 111 | 21 | % |
|
| 333 |
| 29 | % |
|
| 362 |
| 25 | % |
Add: Share-based compensation expense |
| 79 |
| 16 | % |
|
| 63 | 12 | % |
|
| 203 |
| 17 | % |
|
| 190 |
| 13 | % |
Add: goodwill impairment |
| 2,695 |
| 555 | % |
|
| — | — | % |
|
| 2,695 |
| 232 | % |
|
| — |
| — | % |
Adjusted Operating Income | $ | 78 |
| 16 | % |
| $ | 182 | 34 | % |
| $ | 92 |
| 8 | % |
| $ | 446 |
| 31 | % |
4 Adjusted operating margin is calculated as adjusted operating income as a percentage of revenue
Mobileye Global Inc.
Reconciliation of GAAP Net Income (loss) to Non-GAAP Adjusted Net Income (unaudited)
| Three Months Ended |
| Nine months Ended | ||||||||||||||||||||
U.S. dollars in millions | September 28, 2024 |
| September 30, 2023 |
| September 28, 2024 |
| September 30, 2023 | ||||||||||||||||
| Amount | % of Revenue |
| Amount | % of Revenue |
| Amount | % of Revenue |
| Amount | % of Revenue | ||||||||||||
Net Income (Loss) | $ | (2,715 | ) | (559 | %) |
| $ | 17 |
| 3 | % |
| $ | (3,019 | ) | (259 | %) |
| $ | (90 | ) | (6 | %) |
Add: Amortization of acquired intangible assets |
| 111 |
| 23 | % |
|
| 111 |
| 21 | % |
|
| 333 |
| 29 | % |
|
| 362 |
| 25 | % |
Add: Share-based compensation expense |
| 79 |
| 16 | % |
|
| 63 |
| 12 | % |
|
| 203 |
| 17 | % |
|
| 190 |
| 13 | % |
Add: goodwill impairment |
| 2,695 |
| 555 | % |
|
| — |
| — | % |
|
| 2,695 |
| 232 | % |
|
| — |
| — | % |
Less: Income tax effects |
| (93 | ) | (19 | %) |
|
| (10 | ) | (2 | %) |
|
| (114 | ) | (10 | %) |
|
| (31 | ) | (2 | %) |
Adjusted Net Income | $ | 77 |
| 16 | % |
| $ | 181 |
| 34 | % |
| $ | 98 |
| 8 | % |
| $ | 431 |
| 30 | % |
Supplemental Information - Average System Price (unaudited)
|
| Q3 2023 |
| Q4 2023 |
| Q1 2024 |
| Q2 2024 |
| Q3 2024 | |||||
EyeQ and SuperVision revenue (U.S. dollars in millions) |
| $ | 507 |
| $ | 611 |
| $ | 219 |
| $ | 413 |
| $ | 457 |
Number of systems shipped (in millions) |
|
| 9.4 |
|
| 11.6 |
|
| 3.6 |
|
| 7.6 |
|
| 8.6 |
Average system price (U.S. dollars) |
| $ | 53.8 |
| $ | 52.7 |
| $ | 61.0 |
| $ | 54.4 |
| $ | 53.3 |
View source version on businesswire.com:https://www.businesswire.com/news/home/20241031248550/en/
CONTACT: Dan Galves
Investor Relations
investors@mobileye.comJustin Hyde
Media Relations
justin.hyde@mobileye.com
KEYWORD: ISRAEL MIDDLE EAST
INDUSTRY KEYWORD: TECHNOLOGY AUTOMOTIVE OTHER ENERGY OTHER TECHNOLOGY AUTOMOTIVE MANUFACTURING MANUFACTURING ALTERNATIVE ENERGY ENERGY AUTONOMOUS DRIVING/VEHICLES
SOURCE: Mobileye Global Inc.
Copyright Business Wire 2024.
PUB: 10/31/2024 06:30 AM/DISC: 10/31/2024 06:32 AM
http://www.businesswire.com/news/home/20241031248550/en