Mobileye Global (MBLY) investor relations material

Executive summary

• Q2 2026 revenue was $508 million, up 0.4% year-over-year, with EyeQ volume up 3% and SuperVision revenue growing 81% in volume; six-month revenue reached $1,066 million, up 13% year-over-year, driven by higher SuperVision and EyeQ SoC volumes.

• Adjusted operating profit rose 46% year-over-year to $155 million (31% margin), aided by a new Israeli R&D credit law; net loss for the quarter was $21 million, mainly due to a $3,788 million goodwill impairment in H1.

• Announced a strategic shift to a vertically integrated robotaxi business, targeting a 2027 launch in at least one U.S. city, and completed the $900 million acquisition of Mentee Robotics to expand into humanoid robotics.

• CEO Amnon Shashua announced plans to step down after a successor is appointed, aiming to focus on technology strategy and innovation.

• Strong operational momentum with advanced product launches planned for late 2026 and 2027, and expansion in robotaxi and commercial mobility services.

Financial highlights

• Q2 revenue was $508 million, with 10 million units shipped; adjusted operating income for Q2 was $155 million (31% margin), up from $106 million (21% margin) year-over-year.

• Gross margin for Q2 was 46%, down from 50% year-over-year; adjusted gross margin was 66%, down from 69% year-over-year.

• First half operating cash flow was $210 million; cash and equivalents at quarter-end were $1.4 billion, down from $1.86 billion at year-end 2025, mainly due to the Mentee Robotics acquisition.

• R&D incentive contributed $93 million contra expense in Q2, split between Q1 and Q2; recognized a $110 million R&D Law incentive grant in H1.

• Share buyback program deployed $24 million in H1 at an average price of $9.37 per share; 2.5 million shares repurchased.

Outlook and guidance

• Full-year 2026 revenue guidance raised to $1.995 billion at midpoint (range $1.970–$2.020 billion), implying 4–7% growth.

• Full-year adjusted operating income outlook increased to $395 million at midpoint (range $365–$425 million), up from $210 million prior.

• Q3 guidance: 9.3–9.5 million EyeQ units, revenue expected to decrease 5–6% year-over-year, gross margin slightly below Q2.

• Full-year non-GAAP operating expenses expected at $910 million, including $190 million R&D credit.

• Management expects continued investment in R&D and higher 2026 capex compared to 2025.