Mobileye Narrows Losses, Boosts Revenue Amid Intel Share Shuffle

Ticker: MBLY · Form: 10-Q · Filed: 2025-10-23T00:00:00.000Z

Sentiment: bullish

Topics: ADAS, Autonomous Driving, Q3 Earnings, Intel, Share Repurchase, Revenue Growth, Net Loss Reduction

Related Tickers: MBLY, INTC, NVDA, QCOM

TL;DR

**Mobileye's financials are looking up with strong revenue growth and significantly reduced losses, making it a compelling buy despite geopolitical headwinds.**

AI Summary

Mobileye Global Inc. reported a revenue increase of 3.7% to $504 million for the three months ended September 27, 2025, up from $486 million in the prior year period. For the nine months ended September 27, 2025, revenue surged by 24.4% to $1,448 million, compared to $1,164 million in the same period of 2024. Despite revenue growth, the company posted a net loss of $96 million for the quarter, a significant improvement from the $2,715 million net loss in Q3 2024, primarily due to the absence of the $2,695 million goodwill impairment charge recorded in the prior year. The nine-month net loss also improved to $265 million from $3,019 million. Operating expenses decreased dramatically to $352 million for the quarter from $3,044 million, largely due to the goodwill impairment. Cash and cash equivalents increased to $1,749 million as of September 27, 2025, from $1,426 million at December 28, 2024. Strategic changes include a secondary offering of 50,000,000 Class A common shares by Intel, a $100 million share repurchase from Intel, and the deconsolidation of Mobileye from Intel's U.S. domestic income tax return on July 11, 2025. The company noted that 3.8% of its employees have been called to reserve duty in the Israel Defense Forces, but expects no material short-term impact on business results.

Why It Matters

This 10-Q reveals Mobileye's continued revenue growth, up 24.4% year-to-date, signaling strong demand for its ADAS and autonomous driving technologies. The dramatic reduction in net loss, from $2.715 billion to $96 million quarter-over-quarter, is a critical positive for investors, largely due to the absence of a prior goodwill impairment. Intel's secondary offering and Mobileye's $100 million share repurchase from Intel, along with the tax deconsolidation, indicate a strategic shift towards greater independence and potentially more focused capital allocation. This could intensify competition in the autonomous vehicle sector as Mobileye aims to solidify its market position against rivals like NVIDIA and Qualcomm.

Risk Assessment

Risk Level: medium — The company faces geopolitical risks, with approximately 3.8% of its employees called to reserve duty in the Israel Defense Forces, and ongoing conflicts in the region, though it expects no material short-term impact. Additionally, the company's significant reliance on Intel, which still holds 79.6% of outstanding common stock and 97.3% of voting power, presents a concentration risk.

Analyst Insight

Investors should consider Mobileye's improved financial performance, particularly the substantial reduction in net loss and robust revenue growth, as a positive indicator. Monitor the geopolitical situation in Israel and its potential long-term impact on operations, but the current filing suggests resilience. The increased cash position to $1.749 billion provides financial flexibility for future growth initiatives.

Financial Highlights

debt To Equity
0.05
revenue
$504M
operating Margin
-21.6%
total Assets
$12.480B
total Debt
$0.545B
net Income
-$96M
eps
N/A
gross Margin
48.2%
cash Position
$1.749B
revenue Growth
+3.7%

Revenue Breakdown

SegmentRevenueGrowth
Total Revenue$504M+3.7%
Total Revenue (Nine Months)$1.448B+24.4%

Key Numbers

Key Players & Entities

FAQ

What were Mobileye Global Inc.'s revenues for the third quarter of 2025?

Mobileye Global Inc. reported revenues of $504 million for the three months ended September 27, 2025, representing a 3.7% increase from $486 million in the same period of 2024.

How did Mobileye's net income (loss) change in Q3 2025 compared to the previous year?

Mobileye's net loss significantly improved to $96 million for the three months ended September 27, 2025, compared to a net loss of $2,715 million in the prior year period. This improvement was primarily due to the absence of a $2,695 million goodwill impairment charge recorded in Q3 2024.

What was the impact of the goodwill impairment on Mobileye's financials?

A goodwill impairment charge of $2,695 million was recorded in the three and nine months ended September 28, 2024. The absence of this charge in the current period (Q3 2025) was the primary driver for the substantial reduction in net loss from $2,715 million to $96 million.

What is Intel's current ownership stake and voting power in Mobileye Global Inc.?

As of September 27, 2025, Intel Corporation directly or indirectly holds approximately 79.6% of Mobileye's outstanding common stock and 97.3% of the voting power of its common stock, following the secondary offering and share repurchase.

How has the conflict in Israel affected Mobileye's operations?

As of October 15, 2025, approximately 3.8% of Mobileye's employees have been called to reserve duty in the Israel Defense Forces. However, the company expects that the current conflict will not have a material impact on its business results in the short term.

What was the purpose and outcome of the secondary offering and share repurchase involving Intel and Mobileye?

Intel conducted a secondary offering of 50,000,000 Class A common shares at $16.50 per share. In connection, Mobileye repurchased 6,231,985 Class A shares from Intel for $100 million. These transactions, along with a voluntary conversion of 50,000,000 Class B shares to Class A by Intel, led to Mobileye's deconsolidation from Intel's U.S. domestic income tax return on July 11, 2025.

What is Mobileye's cash position as of September 27, 2025?

Mobileye's cash and cash equivalents stood at $1,749 million as of September 27, 2025. This represents an increase from $1,426 million reported at December 28, 2024.

What are Mobileye's total assets and liabilities as of September 27, 2025?

As of September 27, 2025, Mobileye Global Inc. reported total assets of $12,480 million and total liabilities of $545 million. This compares to total assets of $12,579 million and total liabilities of $492 million as of December 28, 2024.

What is the significance of Mobileye's tax deconsolidation from Intel?

The tax deconsolidation on July 11, 2025, means Mobileye is no longer included in Intel's U.S. domestic consolidated income tax return and will file its own U.S. corporate income tax returns for periods beginning July 12, 2025. This marks a step towards greater financial independence for Mobileye.

What are Mobileye's core business activities?

Mobileye Global Inc. is a leader in the development and deployment of advanced driver assistance systems (ADAS) and autonomous driving technologies and solutions. The company leverages a comprehensive suite of purpose-built software and hardware technologies to provide capabilities for the future of autonomous driving.

Risk Factors

Industry Context

Mobileye operates in the rapidly evolving autonomous driving and advanced driver-assistance systems (ADAS) market. The industry is characterized by intense competition from established automotive suppliers, tech giants, and emerging startups, all vying for technological leadership and market share. Key trends include increasing demand for sophisticated ADM/ADAS features, the ongoing development of AI and sensor fusion technologies, and a complex global regulatory landscape.

Regulatory Implications

The autonomous driving sector faces significant regulatory scrutiny. Evolving safety standards, data privacy laws, and certification requirements for autonomous systems can impact development cycles and market entry. Mobileye must navigate these diverse and changing regulations across different jurisdictions to ensure compliance and market access.

What Investors Should Do

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Key Dates

Glossary

Goodwill impairment
A charge taken when the carrying value of goodwill on a company's balance sheet exceeds its fair value, indicating a loss in value of an acquired business. (The absence of a $2.695 billion goodwill impairment charge in Q3 2025 significantly improved the net loss compared to Q3 2024.)
Deconsolidation
The process of removing a subsidiary's financial results from the parent company's consolidated financial statements. (Mobileye's deconsolidation from Intel's U.S. domestic income tax return on July 11, 2025, signifies a change in their tax and financial reporting relationship.)
Class A common stock
A class of common stock, often with different voting rights or dividend preferences compared to other classes. (Intel's secondary offering and share repurchase involved Class A common shares, impacting ownership percentages.)
Class B common stock
Another class of common stock, typically held by founders or early investors, often with enhanced voting rights. (The number of outstanding Class B shares decreased, indicating potential conversions or sales.)

Year-Over-Year Comparison

Mobileye demonstrated revenue growth in Q3 2025, up 3.7% to $504 million, and a substantial 24.4% increase for the nine-month period to $1.448 billion, indicating strong top-line momentum. The most striking improvement is the net loss, which narrowed significantly from -$2.715 billion in Q3 2024 to -$96 million in Q3 2025, primarily due to the absence of a large goodwill impairment charge from the prior year. Operating expenses also saw a dramatic decrease, again largely attributable to the prior year's impairment. Cash reserves increased to $1.749 billion, providing a solid liquidity position.

Filing Stats: 4,684 words · 19 min read · ~16 pages · Grade level 14.5 · Accepted 2025-10-23 16:16:50

Key Financial Figures

Filing Documents

Financial Statements (Unaudited)

Financial Statements (Unaudited) 4 Condensed Consolidated Balance Sheets 4 Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) 5 Condensed Consolidated Statements of Changes in Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 43 Part II. OTHER INFORMATION 44 Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 45 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 46 Item 5. Other Information 46 Item 6. Exhibits 46

Signatures

Signatures 47 2 Table of Contents In this report, references to "we," "us," "our," our "company," "Mobileye," the "Company," and similar terms refer to Mobileye Global Inc. and, unless the context requires otherwise, its consolidated subsidiaries, except with respect to our historical business, operations, financial performance, and financial condition prior to our initial public offering, where such terms refer to Mobileye Group, which combines the operations of Cyclops Holdings Corporation, Mobileye B.V., GG Acquisition Ltd., Moovit App Global Ltd., and their respective subsidiaries, along with certain Intel employees mainly in research and development. References to "Moovit" refer to GG Acquisition Ltd., Moovit App Global Ltd., and their consolidated subsidiaries. We have a 52- or 53-week fiscal year that ends on the last Saturday in December. Fiscal years 2024 and 2023 were a 52-week fiscal years; fiscal year 2025 is also a 52-week fiscal year. Certain amounts, percentages, and other figures presented in this report have been subject to rounding adjustments. Accordingly, figures shown as totals, dollars, or percentage amounts of changes may not represent the arithmetic summation or calculation of the figures that precede them. 3 Table of Contents Part 1: FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS MOBILEYE GLOBAL INC. CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) September 27, December 28, U.S. dollars in millions, except share and per share data 2025 2024 Assets Current assets Cash and cash equivalents $ 1,749 $ 1,426 Trade accounts receivable, net 201 212 Inventories 318 415 Other current assets 148 121 Total current assets 2,416 2,174 Non-current assets Property and equipment, net 453 458 Intangible assets, net 1,276 1,609 Goodwill 8,200 8,200 Other long-term assets 135 138 Total non-current assets 10,064 10,405 TOTAL ASSETS $ 12,480 $ 12,579 Liabilities and Equity Current liabilities Accounts payable and accrued expenses $ 211 $ 190 Employee related accrued expenses 125 105 Related party payable 4 4 Other current liabilities 34 34 Total current liabilities 374 333 Non-current liabilities Long-term employee benefits 74 62 Deferred tax liabilities 32 47 Other long-term liabilities 65 50 Total non-current liabilities 171 159 Contingencies (see note 11) TOTAL LIABILITIES $ 545 $ 492 Equity Class A common stock: $ 0.01 par value; 4,000,000,000 shares authorized; shares issued and outstanding: 216,005,938 as of September 27, 2025 and 100,226,477 as of December 28, 2024 2 1 Class B common stock: $ 0.01 par value; 1,500,000,000 shares authorized; shares issued and outstanding: 597,768,015 as of September 27, 2025 and 711,500,000 as of December 28, 2024 6 7 Additional paid-in capital 15,240 15,137 Accumulated other comprehensive income (loss) 12 2 Retained earnings (accumulated deficit) ( 3,325 ) ( 3,060 ) TOTAL EQUITY 11,935 12,087 TOTAL LIABILITIES AND EQUITY $ 12,480 $ 12,579 The accompanying notes are an integral part of the unaudited condensed consolidated financial statements. 4 Table of Contents MOBILEYE GLOBAL INC. CONDENS

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