Mobileye Global (MBLY) TD Cowen's 54th Annual Technology, Media & Telecom Conference summary

Business performance and outlook

• Achieved 27% revenue growth in Q1, outperforming a global auto industry decline of 3%.

• Buyback announced to offset dilution from stock-based compensation and acquisition.

• Q2 outlook exceeds street expectations, but back-half guidance remains conservative due to uncertainty.

• Strong order flow continues, with upside from Chinese OEM exports and ADAS adoption.

China and emerging markets

• Chinese OEM exports, especially from Chery and Geely, grew over 100% in Q1, driving strong tailwinds.

• Expansion into new markets like Asia-Pacific, Eastern Europe, South America, and early efforts in India.

• Growth in exports does not cannibalize volumes in established markets like Europe, U.S., or Japan.

India market and Mahindra partnership

• India is the third largest auto market, with rising demand for advanced features and higher-priced vehicles.

• ADAS adoption in India is below 10%, but new regulations in 2027 could boost adoption to 60-80%.

• Mahindra partnership includes SuperVision and Surround ADAS, targeting 50-60% and 10-15% penetration respectively by 2028.