Mobileye Global (NASDAQ:MBLY), the Jerusalem-based leader in autonomous driving technologies, delivered strong top-line growth for the first quarter of 2026, driven by accelerating demand for its advanced driver-assistance systems (ADAS).
The company reported revenue of $558 million, a 27% increase compared to the first quarter of 2025.
This performance prompted management to raise the midpoint of its full-year 2026 revenue guidance by 2%, reflecting a more optimistic demand forecast for the remainder of the year.
The company's bottom-line results were heavily distorted by a significant accounting adjustment.
Mobileye recorded a GAAP operating loss primarily due to a $3.788 billion non-cash goodwill impairment charge.
This charge is linked to the goodwill asset on the company’s balance sheet stemming from Intel’s acquisition of Mobileye in 2017.
Consequently, GAAP diluted loss per share was $(4.68).
However, on an adjusted non-GAAP basis—which excludes the impairment and other specific items—diluted EPS stood at a positive $0.12.
Strategically, the quarter was marked by the successful closing of the Mentee Robotics acquisition in early February.
The deal resulted in a net cash reduction of $591 million.
To manage the resulting dilution from stock-based compensation and shares issued during the acquisition, the Board of Directors authorized a share repurchase program of up to $250 million.
Operationally, Mobileye remains cash-flow positive, generating $75 million in operating cash flow during the quarter.