Mobileye Reports Narrower Loss in Second Fiscal Quarter
Mobileye announced a net loss of $0.21 billion for the second quarter of fiscal year 2026. Revenue saw a slight increase, while gross profit declined.
Automotive technology company Mobileye released its financial results for the second quarter of fiscal year 2026, ending June 27, 2026. The company reported a net loss of $0.21 billion, a reduction of 68.66% compared to the same period last year. Total revenue increased marginally by 0.40% to $508 million, while gross profit decreased by 6.75% to $235 million.
The narrowing of the net loss was partly attributed to new research and development incentive policies in Israel. The company's GAAP operating loss improved by 59% year-over-year, and its Non-GAAP operating income saw a significant 46% increase. Mobileye also secured a substantial new design win with Stellantis for enhanced ADAS features.
Mobileye has raised its full-year revenue guidance for fiscal year 2026, now expecting revenues between $1.97 billion and $2.02 billion, representing a 4% to 7% increase. The company also significantly increased its Non-GAAP operating income guidance midpoint, aided by the positive impact of R&D incentives.
The company maintains a strong balance sheet with $1.4 billion in cash, cash equivalents, and marketable securities as of June 27, 2026. Mobileye stated its focus remains on converting past R&D investments into revenue growth across various ventures, including autonomous driving systems and humanoid robotics.