MBLY earnings analysis
What we found in MBLY's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Mobileye reported quarterly revenue of $558.0 million, up 27% year-over-year and driven by shipments of ~10.8 million systems (versus ~8.5 million in Q1 2025). Management completed the Mentee Robotics acquisition for $900 million (approximately $612 million cash and 26,279,824 shares) and MD&A emphasizes continuing product ramps (EyeQ shipments and system-level solutions). Short-term liquidity mix shifted materially: money market funds declined to $548 million from $1,016 million at year-end, while short-term deposits fell to $638 million from $785 million. The Form 10-Q contains qualitative forward-looking language but does not provide standalone numeric guidance; there were no material changes to risk factors from the 2025 Form 10-K.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue beat and double-digit growth
- Revenue for the three months ended March 28, 2026 was $558.0 million, up 27% year-over-year (MD&A explicitly states revenue of $558 million was up 27% YoY).
- System shipments ramping
- Management shipped approximately 10.8 million systems in Q1 2026, up from approximately 8.5 million in Q1 2025 (an increase of ~2.3 million systems).
- Strategic acquisition to expand into robotics
- On February 3, 2026 the company acquired Mentee Robotics for an aggregate purchase price of $900 million, consisting of approximately $612 million in cash and 26,279,824 shares.
- Large liquid investment base remains
- As of March 28, 2026, the company held $548 million in money market funds, $76 million in U.S. government bonds, $30 million in corporate bonds, and $638 million in short-term deposits.
- MD&A reiterates product roadmap and expected contribution
- Management states it expects EyeQ SoC and system solutions (Mobileye Surround ADAS, SuperVision, Chauffeur, Drive) will meaningfully contribute to revenue over time (MD&A uses phrasing such as 'we expect' for these solutions).
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Cash deployment for acquisition reduced money market balances
- Money market funds declined to $548 million as of March 28, 2026 from $1,016 million at December 27, 2025 (a decrease of $468 million), consistent with the $612 million cash portion of the $900 million Mentee Robotics purchase price.
- Supply-chain and component pressure
- MD&A warns increased AI industry demand has resulted in component shortages and higher prices; management notes these pressures may require larger advance purchases and increased lead times (no quantified relief; qualitative risk flagged).
- Geopolitical / employee readiness risk
- MD&A states that as of April 15, 2026 approximately 7.0% of employees have been called to reserve duty, and the company cautions ongoing regional conflict could affect operations.
- Foreign exchange sensitivity
- The company reports that a 10% strengthening of the New Israeli Shekel versus the U.S. dollar would have decreased cash flows by approximately $8 million in the three months ended March 28, 2026 (versus an $11 million impact in the prior-year period).
- No material change to risk factors — continuing exposures remain
- Item 1A states 'There have been no material changes to the risk factors as disclosed in our 2025 Form 10-K,' indicating existing risks (trade policy, tariffs, concentration, goodwill impairment risk, etc.) remain in force.
What they reported.
What the company itself reported, taken out of the document.
- Segment
- ADAS / SoC & system sales: $558.0M in Q1 2026 (substantially all revenue; shipments ~10.8M systems, up from ~8.5M in Q1 2025)
What they said about what is next.
The Form 10-Q contains qualitative forward-looking statements (e.g., 'we expect' various product contributions and supply-chain expectations) but does not provide explicit numeric revenue or EPS guidance in the MD&A. (Refer to the company's earnings release / 8-K for the contemporaneous guidance figures.)
The filing reads about the same as the one before it.
What came before.
- 10-K · February 12, 2026
- Mobileye reported full-year revenue of $1.9 billion in 2025, up 15% versus 2024, with shipments of approximately 35.7 million EyeQ™ SoC and SuperVision™ systems (up from ~29.0 million in 2024). Management delivered…
- 10-Q · October 23, 2025
- Mobileye reported Q3 revenue of $504 million, up $18 million (+3.7%) year-over-year but essentially flat sequentially (down $2 million vs Q2). Gross margin was 48.2% and GAAP operating loss was $109 million; EPS was a…
- 10-Q · July 24, 2025
- Mobileye reported quarterly revenue of $506 million, up $67 million (+15.3%) versus the prior-year quarter and up $68 million (+15.5%) versus the prior quarter, with gross margin expanding to 49.8%. GAAP operating loss…
- 10-Q · April 24, 2025
- Mobileye reported revenue of $438 million for the quarter (up $199 million, +83% vs Q1 2024) with gross profit of $207 million (47.3% gross margin). Operating loss narrowed to $(117) million (operating margin -26.7%)…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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