Intel sure looks smart having an IPO for Mobileye then holding on to the vast majority of shares...
Mobileye Discloses Fourth-Quarter and Full-Year 2022 Results and Business Update
- Revenue increased 59% year over year to $565 million in the fourth quarter.Diluted EPS (GAAP) was $0.04 and Adjusted
- Diluted EPS (Non-GAAP) was $0.27 in the fourth quarter.
- Future business backlog continues to grow, with 2022 ADAS (including SuperVisionTM) design wins projected to generate future revenue of $6.7 billion across 64 million units by 2030.1
- Advanced ADAS products, such as SuperVisionTM contributed meaningfully to our revenue growth and resulted in Average System Price2 increasing to $56.2 in fourth quarter 2022 from $48.3 in the prior year period.
- Generated net cash from operating activities of $546 million in the year ended December 31, 2022. Our balance sheet is strong with $1.0 billion of cash and cash equivalents and zero debt as of December 31, 2022.
January 26, 2023 06:35 AM Eastern Standard Time
JERUSALEM--( BUSINESS WIRE)--Mobileye Global Inc. (Nasdaq: MBLY) (“Mobileye”) today released its financial results for the three months and for the year ended December 31, 2022.
“Our fourth quarter performance is an excellent example of how ramping volumes of our advanced solutions can impact financial performance, as higher average system price amplified strong volume growth, leading to 59% overall revenue growth,” said Mobileye President and CEO Prof. Amnon Shashua. “I’m also very pleased with our business development traction as our OEM customers are increasingly recognizing the scalability of our product portfolio for the following reasons: 1) Adopting SuperVisionTM, an eyes-on, hands-off ADAS system operating across a broad operational design domain (ODD) makes scaling to eyes-off autonomous systems an incremental step rather than a series of moonshots; 2) Mobileye’s EyeQ KitTM software development kit, developed over the last five years, enables OEMs to differentiate their systems on top of our core technology assets; and, 3) Regulatory and consumer proof-points will be increasingly important and Mobileye has a clear, multi-pronged approach for data-driven validation. As planned, we will continue to invest heavily (while maintaining strong profitability) during 2023 to productize and launch our advanced solutions as my confidence level on delivering high returns to all stakeholders has never been higher.”
GAAP
|
|
|
|
|
|
| U.S. dollars in millions
|
| Q4 2022
|
| Q4 2021
|
| % Y/Y
| Revenue
|
| $
| 565
|
|
| $
| 356
|
|
| 59%
| Gross Profit
|
| $
| 300
|
|
| $
| 154
|
|
| 95%
| Gross Margin
|
|
| 53
| %
|
|
| 43
| %
|
| +984bps
| Operating Income (Loss)
|
| $
| 24
|
|
| $
| (44
| )
|
| *NM
| Operating Margin
|
|
| 4
| %
|
|
| (12
| ) %
|
| +1,661bps
| Net Income (Loss)
|
| $
| 30
|
|
| $
| (53
| )
|
| *NM
| EPS - Basic
|
| $
| 0.04
|
|
| $
| (0.07
| )
|
| *NM
| EPS - Diluted
|
| $
| 0.04
|
|
| $
| (0.07
| )
|
| *NM
|
*Not Meaningful
Non-GAAP
|
|
|
|
|
|
| U.S. dollars in millions
|
| Q4 2022
|
| Q4 2021
|
| % Y/Y
| Revenue
|
| $
| 565
|
|
| $
| 356
|
|
| 59%
| Adjusted Gross Profit
|
| $
| 416
|
|
| $
| 274
|
|
| 52%
| Adjusted Gross Margin
|
|
| 74
| %
|
|
| 77
| %
|
| (339)bps
| Adjusted Operating Income
|
| $
| 217
|
|
| $
| 121
|
|
| 79%
| Adjusted Operating Margin
|
|
| 38
| %
|
|
| 34
| %
|
| +440bps
| Adjusted Net Income
|
| $
| 215
|
|
| $
| 97
|
|
| 121%
| Adjusted EPS - Basic
|
| $
| 0.27
|
|
| $
| 0.13
|
|
| 110%
| Adjusted EPS - Diluted
|
| $
| 0.27
|
|
| $
| 0.13
|
|
| 110%
|
Highlights and more at
businesswire.com |
