Mobileye Global Inc. - MBLY STOCK NEWS

Mobileye Global Inc. (Nasdaq: MBLY) announced participation in several investor events in Q2 2023, including the BofA Securities Automotive Summit on April 4 and the Evercore ISI AutoTech & AI Forum on May 25. Additional events include the Mizuho Auto Technology Conference, Cowen Technology Conference, and Fox Advisors Transportation Technology Conference, scheduled throughout June 2023. Mobileye aims to webcast these sessions, with details available on their investor relations site. The company specializes in autonomous driving and driver-assistance technologies, with over 125 million vehicles equipped with its technology globally. Mobileye operates independently, following its 2022 spin-off from Intel (Nasdaq: INTC).

Mobileye Global Inc. (Nasdaq: MBLY) announced that Chief Communications Officer Dan Galves will participate in several investor conferences in Q1 2023. Key events include the Wolfe Research Global Auto Conference on February 15, Citi's Global Industrial Tech Conference on February 22, and Barclays Industrial Select Conference on February 23. Additionally, Galves will attend the Raymond James 44th Annual Institutional Investors Conference on March 6 and the Morgan Stanley Technology Conference on March 8. Mobileye plans to webcast these presentations. For more details, visit their investor relations site at ir.mobileye.com.

Mobileye reported a robust 59% year-over-year revenue increase to $565 million for Q4 2022, with a diluted EPS of $0.04 and an adjusted diluted EPS of $0.27. The company's future business backlog is projected at $6.7 billion from 64 million units by 2030. Advanced ADAS products, particularly SuperVisionTM, significantly contributed to growth, driving average system price up to $56.2. The company maintains a strong balance sheet with $1 billion in cash and zero debt as of December 31, 2022. Operating cash flow was $546 million for the year. The company expects to double volumes in 2023, supported by ongoing OEM collaborations.

Mobileye Global Inc. (Nasdaq: MBLY) will release its Q4 and full-year 2022 financial results on January 26, 2023, before market open. A conference call will follow at 8:00am ET, featuring CEO Amnon Shashua, CFO Anat Heller, and CCO Dan Galves. The call will be streamed live on Mobileye's investor relations site, with a recording available after the event. Mobileye, a leader in autonomous driving technology, became an independent company in 2022, retaining majority ownership by Intel (Nasdaq: INTC).

Mobileye announced an expected $17 billion revenue pipeline for Advanced Driver-Assistance Systems (ADAS) through 2030 during CES 2023. Of this, $3.5 billion is projected from the SuperVision system, launched in Q4 2021. The company also anticipates $3.5 billion from Autonomous Mobility-as-a-Service products by 2028, highlighting strong demand from global automakers. Mobileye projects 1.2 million SuperVision-based vehicles by 2026 and continues to innovate in the ADAS market, with over 233 models launched globally in 2022.

Mobileye has announced a collaboration with Wistron NeWeb Corp. for the production of automotive-grade software-defined imaging radars aimed at enhancing autonomous vehicle technology. The radars, designed for production within two years, will improve object detection and perception in various weather and lighting conditions, supporting Mobileye's advanced driver-assistance systems. The technology features Massive MIMO antenna design and state-of-the-art algorithms, promising reliable performance. Intel retains majority ownership of Mobileye, which has equipped over 125 million vehicles globally.

Mobileye (Nasdaq: MBLY) will hold its CES 2023 Press Conference titled Mobileye: Now, Next, Beyond on January 5, 2023 at 11 a.m. PST in Las Vegas. CEO Professor Amnon Shashua will discuss the company's advancements in autonomous driving technologies, showcasing Mobileye's leadership in the industry. Attendees are invited to visit Mobileye at booth #4601 at the Las Vegas Convention Center during CES.

Mobileye achieved a significant 38% revenue increase year-over-year to $450 million in Q3 2022, driven by strong demand for its advanced ADAS products. The company expects a future volume of 54 million systems by 2030, up from 24 million delivered in 2022. Average System Price rose to $53.0 from $45.7, contributing to a gross profit of $217 million. Despite growth, net loss expanded to $45 million. Following its IPO, Mobileye also repaid significant debt, enhancing liquidity.

Mobileye Global Inc. announces the completion of its IPO, issuing a total of 41 million Class A shares. Underwriters fully exercised their option to buy an additional 6.15 million shares at $21.00 each, generating approximately $1.0 billion in net proceeds. A portion of these funds will go toward repaying a note to parent company Intel, with remaining proceeds for working capital. General Atlantic purchased 4.76 million shares in a private placement for $100 million. Goldman Sachs and Morgan Stanley led the offering.