Mobileye Global, Inc. Class A ( (MBLY) ) has released its Q4 earnings. Here is a breakdown of the information Mobileye Global, Inc. Class A presented to its investors.
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Mobileye Global Inc., a leader in autonomous driving and driver-assistance technologies, provides advanced solutions in the mobility industry through its expertise in computer vision and artificial intelligence. The company released its financial results for the fourth quarter and full year of 2024, highlighting a challenging year with a 23% decrease in fourth-quarter revenue. Despite the downturn, Mobileye maintained a strong balance sheet and executed significant product launches and technological advancements.
In the fourth quarter of 2024, Mobileye reported revenue of $490 million, a 23% decrease from the previous year, primarily due to reduced EyeQ SoC volumes linked to inventory build-up. The company’s GAAP diluted EPS was $(0.09), while the adjusted non-GAAP diluted EPS stood at $0.13. Mobileye also generated $400 million in net cash from operating activities over the year, showcasing robust cash flow despite revenue challenges.
Key achievements in 2024 included the launch of ADAS programs into 313 car models and progress in advanced solutions such as EyeQ6 High System-on-Chip and imaging radar, slated for production in 2025. Mobileye’s strategic engagements expanded, with RFQ-stage development programs representing substantial future opportunities across its top customers. The company also detailed its Compound AI System, enhancing safety and precision for self-driving products.
Looking forward, Mobileye anticipates a return to revenue growth in 2025, driven by a substantial increase in long-term growth visibility and ongoing product development. The company’s management remains optimistic about future product launches and the potential for significant business expansion, positioning Mobileye to continue leading advancements in the mobility sector.
