Mobileye Global, Inc. Class A (MBLY) Q3 2026 Earnings Report

The call was broadly upbeat. Mobileye reported strong year-to-date revenue, operating-income, cash-flow, shipment, customer-win, and guidance trends, with expanding ADAS content and progress across robotaxi and robotics initiatives. The main negatives were the Q3 revenue decline, lower ASPs from mix, memory-cost pressure on gross margin, and an expected Q4 sequential slowdown. Highlights significantly outweighed the lowlights.

Mobileye raised full-year 2026 revenue guidance by $13 million to approximately $2.008 billion, narrowing the range to $1.995 billion-$2.02 billion, implying growth of 5%-7%; the revenue outlook is now 3.5% above original expectation, while adjusted operating income is about double the original outlook, with the midpoint raised to $400 million from $395 million previously and the range narrowed to $380 million-$420 million. The company expects about 65,000 SuperVision systems for the year, up from almost 60,000 previously; full year 2026 EyeQ shipments are expected to grow about 10% at the midpoint versus 2025, and last 12-month EyeQ shipment volume is expected to grow about 10% year-over-year. Full-year non-GAAP operating expenses are expected to be approximately $910 million at the midpoint, including $180 million-$200 million of R&D credits, while the R&D incentive is expected to contribute approximately $190 million at the midpoint. At the midpoint, Q4 revenue is expected to be $450 million, down about 8.5% from Q3, adjusted operating income roughly $60 million, EyeQ orders roughly 8.8 million-8.9 million units versus 9.5 million in Q3, and operating expenses a bit higher than approximately $225 million in Q3; 2027 ASP is expected to be more flat, though there might be some moderate decrease. Mobileye plans to deploy 100 vehicles in one city in 2027, expand from 2028 and beyond, build V4 around the end of Q1 2027, and build few hundreds of robots for production in 2028.