Mobileye Global Inc. (NASDAQ: MBLY) shares began Thursday sharply higher, on the release of its financial results for the three months ended March 28, 2026.
Said CEO Amnon Shashua, “First-quarter results reflected a stronger than expected start to 2026, and continued favorable demand trends enable us to modestly increase our 2026 outlook.
This morning’s news release went on to say the Mobileye Drive / MOIA / VW ID.Buzz robotaxi ecosystem progressed significantly during the first quarter. VW and MOIA announced the kick off of pre-series production at VW’s Hanover plant in March.
“MOIA announced Orlando,” it read, “as its initial driverless launch location (in collaboration with Beep) and began on-road validation testing with Uber in Los Angeles. There are now more than 100 ID.Buzz AVs powered by Drive testing on public roads in six cities (LA, Austin, Orlando, Munich, Berlin, and Hamburg), with Oslo coming soon.”
Revenue increased 27% compared to the first quarter of 2025, primarily due to a 28% ramp up in EyeQ SoC volumes attributable to higher EyeQ demand. A portion of this growth was related to the normalization of safety stock levels at customers, after some draw down that took place in the fourth quarter of 2025.
Operating cash flow for the three months ended March 28 was $75 million. Cash used in purchases of property and equipment was $30 million for that same period.
MBLY shares charged ahead $1.10, or 13.9%, to $9.00.
