Oct 29, 2026 earnings call — Strong EyeQ shipments and raised full-year guidance
Raised full-year revenue midpoint to approximately $2.008 billion and adjusted operating income midpoint to $400 million.
Revenue $0.5B (est $0.5B) · EPS $0.11 (est $0.10)
Key quotes
"While global automotive production through Q3 has declined slightly on a year-on-year basis, our shipments are up 11%."
"Taken together, these Surround ADAS and REM selections demonstrate adoption of our platform beyond front-facing camera perception. They show two routes to greater content per vehicle, supplying a broader system or adding software and mapping capabilities to an existing EyeQ program."
"The improvement was again largely driven by the Israeli R&D credit law, which contributed $51 million of contra R&D expense in the quarter."
Analyst Q&A 9
VW relationship and robo plan
Q (Chris McNally · Evercore): He asked for the current status of Mobileye’s relationship with Volkswagen Group. He wanted updates on the production launches in 2027–2028 and on the robo/Autonomy relationship with CARIAD and Moia.
A: Management said their relationship is built on product launches and named production programs. All programs are on production hardware and are tracking for 2027–2028 launches, with software hardening as the main focus. They said CARIAD is selecting a new partner and they cannot comment on partners’ internal processes or media reports.
"All programs are now running on production hardware, production intent vehicle platforms." — Amnon Shashua (CEO)
China exports and Cloud-Enhanced ADAS
Q (Dan Levy · Barclays): He asked why Mobileye can keep share versus Chinese competitors that claim they can export via JVs. He also asked about adoption and ASP effect of the Cloud-Enhanced ADAS wins.
A: Management said claims by Chinese competitors are not new and Mobileye has been repeatedly selected by big Chinese OEMs because of regulation compliance and the performance expected by European consumers. On Cloud-Enhanced ADAS, they said it is an upgrade using the same chip and hardware, mostly software validation, that gives better features at low cost and strengthens OEM relationships as a bridge to Surround ADAS.
"It basically uses the same chip, it uses a lot of the same hardware, and it is mostly software validation work." — Nimrod Nehushtan
Robotaxi milestones and vehicle plan
Q (Edison Yu · Deutsche Bank): He asked what big milestones Mobileye plans for next year for its internal robotaxi effort and what the robotaxi form factor will be.
A: Management said they want full control of the product life cycle to move faster and to cut robotaxi costs by experimenting with sensors and compute. They plan to deploy 100 vehicles in one city in 2027 (Orlando area, then Miami) and to work with OEMs to buy level-four-ready vehicle platforms for scale from 2028.
"All of that on 100 vehicles in one city in 2027." — Amnon Shashua (CEO)
Customer strategy and memory cost
Q (Joseph Spak · UBS): He asked how Mobileye’s deliberate focus on production-grade platforms affects near-term opportunity and then asked about the $7 million memory pass-through and guidance implications.
A: Management said they prioritized production-ready platforms over demo systems, which may reduce near-term nominations but creates more durable long-term growth; SuperVision is maturing toward early 2027. On memory, Moran said memory was considered in the prior outlook, the $7 million in Q3 was the total memory cost and roughly half or 60% was already baked in; Q4 memory cost should be lower because SuperVision volume is much lower.
"So, memory was considered in our prior outlook." — Moran Shemesh (CFO)
Memory price and China demand
Q (Shreyas Patil · Wolfe): He asked how to think about memory price pass-through into 2027 given expected memory price increases and higher SuperVision shipments. He also asked where Chinese OEM exports are going and for a Q4 split between international and Chinese OEM EyeQ shipments.
A: Management said they are working with customers on 2027 memory prices and will provide the full picture on the next call, taking a similar approach to past macro-driven cost increases. They said Mobileye is competitive because of regulation and performance expectations in markets like Europe and India. On volumes, they do not give specific quarterly splits but said they are delivering more than 4.5 million chips to China and China OEM demand has been sustained.
"We usually do not give specific volume, but we can say that the China OEM demand has been sustained through the year." — Moran Shemesh (CFO)
ASP trends and product pricing
Q (Mark Delaney · Goldman Sachs): He asked how Mobileye’s ASP per EyeQ chip may trend over the next 2–3 years given L2+ growth, Surround ADAS awards, REM momentum, and the company’s volume outlook.
A: Moran said ASP faced headwinds in 2026 from Chinese OEMs and second-chip programs, while Cloud-Enhanced ADAS and higher bundles can add a few tens of dollars per EyeQ and help offset headwinds. Nimrod added current base ADAS ASP is around $47-$50, Surround ADAS is roughly 2X base ASP, Cloud-Enhanced ADAS adds single-digit dollars per car per year, SuperVision is above $1,000 per car, and Chauffeur is about $2,500, with gross margins closer to the 40s; overall ASP will depend on product mix and volumes.
"SuperVision is in the above $1,000 per car, but with a different gross margin, maybe closer to the 40s." — Nimrod Nehushtan
Customer interest and teleoperation staffing
Q (George Gianarikas · Canaccord Genuity): He asked if Tesla’s FSD milestones and high take rates have increased OEM interest in advanced autonomous solutions. He also asked how Mobileye models remote operator headcount and vehicle-to-operator ratios as robotaxi fleets scale.
A: Management said internal SuperVision testing is very good and when in production it will not be far from Tesla FSD performance (excluding parking); Tesla’s 75% take rate is a positive tailwind for attention from OEMs. On teleoperation, they said operations start with one operator per vehicle and will reduce over time by using tools such as VLMs to allow more vehicles per teleoperator.
"I believe that when we come out in production, it will not be that far from a Tesla FSD performance without the parking." — Amnon Shashua (CEO)
Beep investment and sensor strategy
Q (Colin Rusch · Oppenheimer): He asked why Mobileye invested in Beep and how public transport could drive demand for self-driving vehicles. He also asked about sensor evolution and whether color LiDAR could simplify the sensor suite.
A: Management said the Beep investment creates a partner for robotaxi operations, day-to-day management, and maintenance, and that Beep’s public transit and microtransit work could help demand creation. On sensors, Mobileye’s bet is cameras as the base plus imaging radars; they invested the past seven years in imaging radars and believe long-term lidar will not be needed.
"The Beep investment is basically around establishing a partner for the robotaxi operations and the day-to-day management and maintenance." — Amnon Shashua (CEO)
ASP cadence and 2027 investments
Q (Andrew Percoco · Morgan Stanley): He asked whether 2027 ASPs should follow the 2026 trend before seeing meaningful Surround/Cloud benefits in 2028, and whether R&D or OpEx will notably increase in 2027 to support Mentee and the robotaxi business.
A: Nimrod confirmed Surround ADAS and Cloud-Enhanced launches are 2028 events and deferred ASP detail to Moran. Moran said 2027 ASPs are expected to be more flat, though there might be some moderate decrease related to software content and bundle mix, and they do not expect the same headwinds as in 2026. Management did not provide a direct answer in this call about any notable uptick in R&D or OpEx for 2027.
"There might be some moderate decrease as relates to, again, software content and demand for higher bundles versus lower bundles, but we are not expected to see the same headwinds as we experienced in 2026." — Moran Shemesh (CFO)