Detailed information regarding these and other factors that could affect Mobileye’s business and results is included in Mobileye’s SEC filings, including the company’s Annual Report on Form 10-K for the year ended December 31, 2022, particularly in the section entitled “Item 1A. Risk Factors”. Copies of these filings may be obtained by visiting our Investor Relations website at ir.mobileye.com or the SEC’s website at www.sec.gov.
Third Quarter 2023 Financial Results
Mobileye Global Inc.
Condensed Consolidated Statements of Operations (unaudited)
|
|
Three Months Ended |
|
Nine months Ended |
||||||||||||
U.S. dollars in millions, except share and per share amounts |
|
September 30,
|
|
October 1,
|
|
September 30,
|
|
October 1,
|
||||||||
Revenue |
|
$ |
530 |
|
|
$ |
450 |
|
|
$ |
1,442 |
|
|
$ |
1,304 |
|
Cost of revenue |
|
|
258 |
|
|
|
233 |
|
|
|
739 |
|
|
|
682 |
|
Gross profit |
|
|
272 |
|
|
|
217 |
|
|
|
703 |
|
|
|
622 |
|
Research and development, net |
|
|
218 |
|
|
|
206 |
|
|
|
664 |
|
|
|
565 |
|
Sales and marketing |
|
|
28 |
|
|
|
27 |
|
|
|
90 |
|
|
|
91 |
|
| General and administrative |
|
|
18 |
|
|
|
9 |
|
|
|
55 |
|
|
|
27 |
|
| Total operating expenses |
|
|
264 |
|
|
|
242 |
|
|
|
809 |
|
|
|
683 |
|
| Operating income (loss) |
|
|
8 |
|
|
|
(25 |
) |
|
|
(106 |
) |
|
|
(61 |
) |
| Interest income with related party |
|
|
— |
|
|
|
5 |
|
|
|
— |
|
|
|
9 |
|
| Interest expense with related party |
|
|
— |
|
|
|
(11 |
) |
|
|
— |
|
|
|
(20 |
) |
| Other financial income (expense), net |
|
|
15 |
|
|
|
1 |
|
|
|
38 |
|
|
|
6 |
|
| Income (loss) before income taxes |
|
|
23 |
|
|
|
(30 |
) |
|
|
(68 |
) |
|
|
(66 |
) |
| Benefit (provision) for income taxes |
|
|
(6 |
) |
|
|
(15 |
) |
|
|
(22 |
) |
|
|
(46 |
) |
| Net income (loss) |
|
$ |
17 |
|
|
$ |
(45 |
) |
|
$ |
(90 |
) |
|
$ |
(112 |
) |
|
|
|
|
|
|
|
|
|
|
||||||||
| Earnings (loss) per share: |
|
|
|
|
|
|
|
|
||||||||
| Basic |
|
$ |
0.02 |
|
|
$ |
(0.06 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.15 |
) |
| Diluted |
|
$ |
0.02 |
|
|
$ |
(0.06 |
) |
|
$ |
(0.11 |
) |
|
$ |
(0.15 |
) |
| Weighted-average number of shares used in computation of earnings (loss) per share (in millions): |
|
|
|
|
|
|
|
|
||||||||
| Basic |
|
|
806 |
|
|
|
750 |
|
|
|
804 |
|
|
|
750 |
|
| Diluted |
|
|
810 |
|
|
|
750 |
|
|
|
804 |
|
|
|
750 |
|
