Mobileye Global Inc. (NASDAQ: MBLY) has reported its financial results for the first quarter of 2025. The company saw a significant 83% year-over-year increase in revenue, reaching $438 million in the first quarter of 2025, compared to $239 million in the same period in 2024, which was impacted by a significant drawdown of inventory at tier 1 customers.
In terms of earnings per share (EPS), the diluted EPS on a GAAP basis was $(0.13), while the adjusted diluted EPS on a non-GAAP basis was $0.08 in the first quarter.
The company has reaffirmed its full-year 2025 outlook, expecting second quarter revenue to increase approximately 7% year over year compared to the same period in 2024.
Financially, Mobileye's gross profit for the first quarter of 2025 was $207 million, a substantial increase from $54 million in the first quarter of 2024. The gross margin also rose to 47% from 23%, marking a significant 2,467 basis points increase.
Furthermore, the operating income (loss) for the first quarter of 2025 was $(117) million, an improvement from $(238) million in the same period in 2024. The operating margin also showed a noteworthy increase to (27)% from (100)%.
On a non-GAAP basis, the adjusted gross profit for the first quarter of 2025 was $301 million, up from $148 million in the first quarter of 2024, and the adjusted gross margin increased to 69% from 62%, a 680 basis points rise.
Moreover, the adjusted operating income (loss) for the first quarter of 2025 was $59 million, compared to $(65) million in the first quarter of 2024, and the adjusted operating margin improved to 13%, while it was (27)% in the same period in 2024.
Mobileye's operating cash flow for the first quarter of 2025 was reported at $109 million, while cash used in purchases of property and equipment was $14 million for the same period.
In terms of business highlights, the company's EyeQ6 Lite gained additional momentum as the enabler for next-generation high-volume OEM ADAS programs, with projected lifetime volumes for the design wins awarded in the first quarter of 2025 representing a high majority of what was achieved in the entire previous year. Additionally, Mobileye announced its first surround ADAS win with the mainstream brands of Volkswagen Group and expects a strategic program award for its imaging radar product from a European OEM to be imminent.
The company's CEO, Professor Amnon Shashua, expressed confidence in the company's outlook, citing strong revenue trends and business development activity in the first quarter of 2025. As a result of these announcements, the company's shares have moved 7.3% on the market, and are now trading at a price of $14.16. For more information, read the company's full 8-K submission here.
