Mobileye’s first quarter revenue rose to $558 million, up 27% from $438 million a year earlier, as the company said higher demand and a 28% ramp in EyeQ SoC volumes drove the gain. Gross profit increased to $275 million from $207 million, a 33% increase, while gross margin widened to 49% from 47%.
Operating results swung sharply lower on a GAAP basis because of a $3.788 billion goodwill impairment, pushing operating loss to $3.896 billion from $117 million a year ago and net loss to $3.818 billion from $102 million. Diluted GAAP EPS was $(4.68), compared with $(0.13) in the prior-year quarter.
On an adjusted basis, operating income increased to $95 million from $59 million, and adjusted net income rose to $96 million from $63 million. Adjusted diluted EPS climbed to $0.12 from $0.08. Adjusted gross profit increased to $370 million from $301 million, though adjusted gross margin slipped to 66% from 69%.
The company generated $75 million in operating cash flow in the quarter. Cash declined by $591 million, net of cash acquired, after the early-February closing of the Mentee Robotics acquisition.
Mobileye also raised the midpoint of its full-year 2026 revenue outlook by 2%, citing stronger-than-expected first-quarter demand, and authorized up to $250 million in share repurchases. Today the company's shares have moved -1.59% to a price of $6.82. For the full picture, make sure to review Mobileye Global's 8-K report.
