Intel Autonomous Driving Firm Mobileye Reaffirms 2025 Outlook After Record Q1 Growth
Mobileye Global Inc (NASDAQ: MBLY) stock gained Thursday after it reported its fiscal first-quarter 2025 results.
The company reported a quarterly revenue growth of 83% year-on-year to $438 million, beating the analyst consensus estimate of $435.2 million.
Adjusted EPS of 8 cents was in line with the analyst consensus estimates.
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EyeQ and SuperVision revenue was $415 million versus $219 million a year ago.
The Average System Price was $49.00, down from $61.00 in the prior year. The number of systems shipped rose to 8.5 million from 3.6 million a year ago.
Gross margin climbed by 2,467 bps to 47%
Adjusted gross margin improved by 680 bps to 69% due to changes in the volume mix between EyeQ SoC and SuperVision.
The adjusted operating margin was 13%, up from (27)% a year ago.
Mobileye held $1.51 billion in cash and equivalents as of March 29, and generated a quarterly operating cash flow of $109 million.
Mobileye CEO Amnon Shashua said the first quarter was one of the largest quarters on record regarding projected future volumes.
Among the company’s milestones:
- An ADAS design win with a customer it had not had since 2016
- The first Surround ADAS design win with Volkswagen (OTC:VWAGY), and
- Acceleration for its Mobileye Drive robotaxi solution.
Outlook: Mobileye reiterated fiscal 2025 revenue of $1.69 billion-$1.81 billion versus the $1.76 billion analyst consensus estimate and adjusted operating income to $175 million-$260 million.
The company expects second-quarter revenue of $469.73 million compared to analyst estimates of $432.42 million.
Price Action: Mobileye stock is up 4.55% at $13.80 premarket at the last check Thursday.
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Posted-In: Autonomous Driving Briefs mobilityEarnings News Guidance
