Mobileye’s first quarter loss widened sharply after a large non-cash goodwill impairment, even as revenue climbed 27% and the company lifted its full-year sales outlook.
The company reported first quarter revenue of $558m, while gross profit rose 33% to $275m from $207m a year earlier.
Operating performance weakened, with an operating loss of $3.89bn compared with $117m in the same period last year.
Net loss increased to $3.81bn from $102m.
Basic and diluted loss per share both came in at -$4.68, compared with -$0.13 a year earlier.
Mobileye said the operating loss was mainly driven by a non-cash goodwill impairment of $3.78bn tied to goodwill recorded after Intel’s acquisition of the company in 2017.
During the quarter, Mobileye generated $75m in operating cash flow.
Its cash balance was reduced by $591m, net of cash acquired, following the completion of the Mentee Robotics acquisition in early February.
The company also announced a $250m share repurchase authorisation.
It said the buyback is meant to offset dilution from stock-based compensation and shares issued in connection with the acquisition.
Mobileye raised the midpoint of its full-year 2026 revenue guidance by 2%, saying first-quarter demand was stronger than expected.
The company pointed to a 28% increase in EyeQ SoC volumes.
In its business update, Mobileye said work continued on the Mobileye Drive robotaxi ecosystem with MOIA and Volkswagen.
This included pre-series production of ID.Buzz autonomous vehicles at Volkswagen’s Hanover plant and broader testing in several cities.
Mobileye further announced SuperVision and Surround ADAS design wins with Mahindra, which it said underlined opportunities in the Indian market.
Mobileye president and CEO Amnon Shashua said: “First quarter results reflected a stronger than expected start to 2026, and continued favourable demand trends enable us to modestly increase our 2026 outlook. We also secured an important design win with Mahindra which adds a third Surround ADAS customer and a second customer for our next-generation SuperVision product.”
For full-year 2026, the company expects revenue of $1.93bn to $2.01bn.
It forecast an operating loss of between $4.33bn and $4.28bn, while adjusted operating income is expected to be in the range of $185m to $235m.
Mobileye said the revised outlook reflects higher anticipated EyeQ unit shipments, operating leverage from stronger revenue, and the financial effect of the Mentee Robotics acquisition.
