When it comes to understanding Mobileye’s finances, knowing Mobileye net worth in 2024 is just the starting point.
We’ll dive deeper into the company’s financial performance, particularly how its cutting-edge autonomous driving systems have driven revenue.
This insightful analysis, provided by Ando Money, will shed light on the trends that shaped Mobileye’s year.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Mobileye |
| Full Name | Mobileye Global Inc. |
| Website | mobileye.com |
| Industry | Automotive technology |
| Traded as | NASDAQ: MBLY |
| ISIN | US60741V1070 |
| Founded | 1999 |
| Founders | Prof. Amnon Shashua, Ziv Aviram |
| Country/Territory | Israel |
| Headquarters | Jerusalem, Israel |
| Chief Executive Officer | Prof. Amnon Shashua |
| Number of Employees | N/A |
| Market Cap | $9.78 billion |
| Total Assets | $15,307 million |
| Total Equity | $14,719 million |
| Revenue | $439 million (Q2 2024) |
| Net Income | $(86) million (Q2 2024) |
What is the Net Worth/Market Cap Of Mobileye in 2024?
As of October 2024, Mobileye has a market cap of $9.78 billion. This figure places the company in a competitive financial position.
While not among the very top, Mobileye’s focus on autonomous driving systems keeps it strong in its niche.
Comparatively, some of the largest global brands may have significantly higher market caps, but Mobileye’s innovation continues to drive its worth.
Here are some related companies:
- Intel Corporation
- Tesla
- Zeekr
- Geely Group
- Nvidia
- Aptiv
- Waymo
- Rivian
- Nio
- Ford
Mobileye might not rank as the largest company, but its market cap reflects its role as a growing player in autonomous technology.
Check out more about how major players compare by visiting our page on the most valuable companies.
Mobileye Financial Performance Overview
Key Financial Drivers in 2024
The first half of 2024 was challenging for Mobileye. Revenue dropped by 3% year-over-year, down to $439 million in Q2 2024, due to a 10% decrease in EyeQ-related revenue.
However, the company saw an 84% increase compared to Q1 2024, largely due to the normalization of inventory levels.
These financial drivers are pivotal to understanding the company’s overall performance.
Performance of Autonomous Driving Systems
Mobileye’s core autonomous driving systems, including ADAS and EyeQ, have been essential contributors to its revenue.
The SuperVision system alone showed notable traction in high-end vehicle segments, boosting the company’s average system price to $54.4 in Q2 2024.
Though SuperVision’s growth in the China market has faced some hurdles, it remains a key product that could drive future sales.
Revenue Trends and Regional Markets
Mobileye’s financial performance in 2024 was heavily influenced by regional market dynamics.
In particular, the China market presented challenges, with softening demand and reduced orders impacting Mobileye’s Q2 revenue projections.
However, the company maintains optimism about mid- and long-term growth in the Chinese market through its partnerships with local manufacturers like Zeekr and Geely Group.
Additionally, U.S. tariffs and economic pressures in Europe also weighed on the company’s global revenue.
Impact of EyeQ and SuperVision Technology
The EyeQ system remains a cornerstone of Mobileye’s financial success. With over 7.6 million systems shipped in Q2 2024, EyeQ-related products continue to deliver significant value.
However, EyeQ-related revenue dropped year-over-year due to previous excess inventory among Tier 1 customers.
Meanwhile, the SuperVision system is expected to lead future growth, with Mobileye pursuing multiple high-volume contracts in the mid-priced vehicle segment.
Partnerships and Collaborations
Strategic partnerships with companies like Zeekr and Geely Group have played a critical role in Mobileye’s growth.
These collaborations are expected to increase the adoption of SuperVision and other Mobileye systems globally, especially in high-demand markets like China.
Partnerships also position Mobileye for future revenue streams, as the company explores new markets for robotaxis and autonomous vehicle technologies.
Challenges and Opportunities in the China Market
Despite its ambitions in China, Mobileye faced significant challenges in 2024.
Softening demand, changing OEM production estimates, and the macro environment caused a revision of the company’s revenue outlook.
That said, China remains a key focus for future investments, with initiatives designed to enhance the company’s presence and competitiveness in this lucrative market.
Product Development and Revenue Impact
Mobileye’s ongoing investments in next-generation ADAS systems, including Level 2+ autonomy, have positioned the company for future success.
These products are crucial for the mid-priced, high-volume segments, which will drive revenue growth.
The company believes its portfolio is well-suited to meet future safety and efficiency standards, potentially unlocking additional revenue streams.
Cost Management and Profit Margins
Managing costs has been a priority for Mobileye in 2024. The company’s adjusted gross margin for Q2 2024 was 69%, slightly down from the previous year.
This was driven by an increase in operating expenses related to the production and development of new systems.
Mobileye’s operating loss of $(94) million in Q2 reflects the pressure on profit margins. However, strategic cost management and lower-than-expected expenses should help mitigate these effects in the long term.
Future Financial Outlook and Growth Initiatives
Looking ahead, Mobileye expects to capitalize on several growth opportunities, particularly in the development of robotaxis and the continued expansion of its SuperVision system.
The company’s ability to navigate challenges in the China market and maintain strong R&D investments will determine the course of its future financial performance.
FAQs about Mobileye
What are the key financial figures for Mobileye in 2024?
Its revenue for Q2 2024 was $439 million, and it posted a net income loss of $(86) million for the same period. The company also recorded total assets of $15,307 million as of June 2024.
What technologies are driving Mobileye’s revenue growth?
Mobileye’s EyeQ and SuperVision technologies have been the main revenue drivers. The company shipped 7.6 million systems in Q2 2024, with significant growth expected from future product developments.
How did regional markets affect its financial performance?
The China market had a notable impact on Mobileye’s financial outlook, with softening demand and reduced production estimates affecting revenue in the second half of 2024. U.S. tariffs also impacted growth.
What partnerships have contributed to Mobileye’s growth?
Strategic partnerships with companies like Zeekr and Geely Group have bolstered Mobileye’s growth, especially in the autonomous driving sector. These collaborations are key to expanding product adoption globally.
What is Mobileye’s future financial outlook?
Despite near-term challenges, Mobileye expects future growth from robotaxis and expanding its SuperVision system. The company’s investments in autonomous vehicle technologies will shape its long-term financial success.
Conclusion
Mobileye’s financial journey in 2024 has been marked by challenges and opportunities.
As we keep an eye on its evolving performance, feel free to leave comments, share your thoughts, or explore more content on our website andomoney.com.
