Gasgoo Munich-Mobileye Global (Nasdaq: MBLY) released its fiscal third-quarter 2026 financial results on October 29, for the period ended September 26.
Revenue slipped 2% year-on-year to $492 million in the third quarter. The operating loss narrowed by 25%, while adjusted operating profit rose 20%. GAAP diluted EPS were -$0.08, with adjusted diluted EPS at $0.11.
Mobileye President and CEO Amnon Shashua pointed to two growth drivers: more vehicles carrying ADAS technology and rising content value per vehicle.
Image Credit: Mobileye
Yet, while revenue dipped slightly, chip shipments didn't mirror the broader auto market's weakness.
EyeQ chip shipments rose 11% year-on-year in the first nine months of 2026, even as estimated global vehicle production fell roughly 1%. Mobileye forecasts a 7% increase in chip shipments to its top ten customers for the full year, despite their combined vehicle output projected to fall 5%.
Outpacing vehicle production, the shipment figures signal that ADAS penetration rates are still rising — a core pillar supporting Mobileye's fundamentals.
Consequently, Mobileye lifted its profit outlook, raising the midpoint for full-year fiscal 2026 revenue by $13 million. The company narrowed its revenue range to between $1.995 billion and $2.02 billion, implying annual growth of 5% to 7%.
The confidence behind the raised guidance stems from higher ADAS adoption rates and design wins for high-value programs.
Recently, Mobileye secured cloud-enhanced ADAS design wins from two automakers: a top-five global manufacturer based in Asia and a top-ten global player from Japan. The solutions include front-facing cameras and Road Experience Management (REM) to support mass-produced L2+ systems. Additionally, Mobileye announced it will begin supplying cloud-enhanced ADAS to Stellantis in 2027.
On the robotaxi front, Mobileye has launched public ride-hailing services with safety drivers in Hamburg, Germany, started closed-track testing in Orlando, and secured approval for public deployment in Norway.
Separately, MenteeBot — developed by Mentee Robotics, a humanoid robot firm the company has invested in — has been recognized by NVIDIA for using its Isaac platform to develop physical AI capabilities.
