Israeli auto-tech company Mobileye Global Inc (Nasdaq: MBLY) saw its share price recover slightly in recent days after reaching an all-time low. Now the company has released its third quarter financial results and despite beating analysts' forecasts, the stock is weakening, likely because no new CEO has been announced, leaving a cloud of uncertainty hanging over the company.
Mobileye reported quarterly revenue of $492 million, beating analysts' expectations of $477 million. The company posted a net profit of $0.11 per share, higher than the $0.10 per share forecast by analysts. Mobileye has also once again raised annual guidance just as it did in the previous quarter.
Uncertainty surrounding a successor to Shashua
On release of the second-quarter financial results, the company’s founder and CEO, Prof. Amnon Shashua, surprised the market by announcing plans to step down as CEO. He is expected to remain on Mobileye’s board and has been offered the position of chairman, though he stated at the time that he had not yet made a final decision. Mobileye has not yet announced who will replace Shashua.
Third-quarter revenue reflects a decline of about 2% compared from the corresponding quarter in 2025. For the first three quarters of 2026, revenue rose 7.6% to $1.56 billion. GAAP net loss for the third quarter narrowed 30.2% to $67 million. Adjusted net profit was $95 million, up 25% from the corresponding quarter. For the first three quarters of the year, the company recorded an adjusted net profit of $346 million, while the GAAP net loss stood at $3.9 billion - a figure driven by the write-off of intangible assets earlier in the year (rather than during the third quarter currently being reported).
The company has raised its guidance. Mobileye now expects revenue in the range of $1.995 billion to $2.02 billion, compared with previous guidance of $1.97 billion to $2.02 billion. Adjusted operating profit for the year is projected to be between $380 million and $420 million, versus prior guidance of $365 million to $425 million. Based on the midpoint of these ranges, this represents 6% revenue growth and a 42.9% increase in adjusted operating profit compared with the previous year.
Mobileye notes that, year-to-date, the company has generated $303 million in cash from operating activities and holds $1.5 billion in cash and deposits.
Shashua said, "Mobileye delivered another quarter of strong results from its ADAS products. In the first nine months of 2026, our 2026 EyeQ shipment volume was up 11% compared to 2025. This was well ahead of global automotive production, which declined an estimated 1%."
He added, "Our multi-year growth opportunity in the consumer-owned vehicle space has two reinforcing drivers: ADAS reaching more vehicles and Mobileye delivering more value in each vehicle. Recent Surround ADAS and Cloud-Enhanced ADAS design wins demonstrate our expanding role beyond front-camera perception, creating a path to higher content per vehicle as these programs enter production. In robotaxi, permits, public deployments and partner vehicle selections mark progress toward commercialization, with driver-out performance remaining a critical milestone. Our broader participation in the value chain is intended to accelerate deployment and capture recurring revenue opportunities alongside our capital-light self-driving system supply business."
Mobileye is traded on Nasdaq with a market cap of $6 billion and is controlled by Intel.
Published by Globes, Israel business news - en.globes.co.il - on October 29, 2026.
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