Reports Q4 revenue $565M, consensus $535.82M. "Our Q4 performance is an excellent example of how ramping volumes of our advanced solutions can impact financial performance, as higher average system price amplified strong volume growth, leading to 59% overall revenue growth," said CEO Amnon Shashua. "I’m also very pleased with our business development traction as our OEM customers are increasingly recognizing the scalability of our product portfolio for the following reasons: 1) Adopting SuperVision, an eyes-on, hands-off ADAS system operating across a broad operational design domain makes scaling to eyes-off autonomous systems an incremental step rather than a series of moonshots; 2) Mobileye’s EyeQ Kit software development kit, developed over the last five years, enables OEMs to differentiate their systems on top of our core technology assets; and, 3) Regulatory and consumer proof-points will be increasingly important and Mobileye has a clear, multi-pronged approach for data-driven validation. As planned, we will continue to invest heavily while maintaining strong profitability during 2023 to productize and launch our advanced solutions as my confidence level on delivering high returns to all stakeholders has never been higher."
Published first on TheFly
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