MBLY
Mobileye Global Inc
Q4 2024 Report
Mobileye Global Inc (MBLY) Q4 2024 Results: Steady Performance Amidst Market Pressures...
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Executive Summary
Mobileye Global Inc (NASDAQ: MBLY) reported its third-quarter results for 2024, showing a mixed performance as the company grapples with challenging market dynamics. Revenue came in at $486 million, representing a sequential increase of 10.71% from Q2. Although year-over-year revenue dropped 23.70%, which was driven by a substantial 50% decline in shipments to China OEMs, the company sees positive signs with inventory levels at major customers normalizing. CEO Prof. Amnon Shashua highlighted the overall stability of the second half of the year, aligning with performance expectations and indicating that cash flow generation remains strong, having reached $126 million in Q3. Despite challenges, Mobileye is confident in its strategic plan for returning to robust growth starting from 2026, powered by core customer relationships and innovative product offerings.
Key Performance Indicators
Revenue
486.00M
QoQ: 10.71% | YoY:-23.70%
Gross Profit
237.00M
48.80% margin
QoQ: 13.40% | YoY:-31.10%
Operating Income
-2.81B
QoQ: -2 886.17% | YoY:-3 945.21%
Net Income
-2.72B
QoQ: -3 056.98% | YoY:-4 409.52%
EPS
-3.35
QoQ: -2 945.45% | YoY:-4 389.37%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue**: $486 million (Q3 2024), down 23.70% YoY but up 10.71% QoQ.
- **Gross Profit**: $237 million, with a gross profit margin of 48.8%.
- **Net Income**: $-2.715 billion, reflecting a net margin of -5.59%.
- **EPS**: $-3.35, a significant decline from prior periods.
- **Cash and Cash Equivalents**: $1.293 billion, indicating strong liquidity.