Mobileye reported Q2 2024 revenue of $439 million, down 3% YoY, with diluted EPS of $(0.11). The decline was primarily due to a 10% decrease in EyeQ SoC revenue, partially offset by significant growth in SuperVision revenue. Average System Price increased to $54.4 from $51.7 in the prior year period.The company has reduced its 2024 guidance, lowering revenue expectations by 13% to $1.6-1.68 billion, primarily due to weakening conditions in China affecting industry-wide demand. The outlook reflects approximately 3.5 million units reduction in EyeQ volume expectations for H2 2024, while SuperVision volume projections were also cut due to new tariffs in US and Europe impacting delivery ramp-up.Despite near-term challenges, Mobileye remains optimistic about medium-term growth prospects, citing continued SuperVision/Chauffeur progress and expanded collaboration with Zeekr. The company is pursuing multiple high-volume opportunities in the mid-priced vehicle segments, leveraging its versatile portfolio to serve emerging OEM demands for advanced ADAS systems.

Mobileye reported Q2 2024 revenue of $439 million, down 3% YoY, with diluted EPS of $(0.11). The decline was primarily due to a 10% decrease in EyeQ SoC revenue, partially offset by significant growth in SuperVision revenue. Average System Price increased to $54.4 from $51.7 in the prior year period.The company has reduced its 2024 guidance, lowering revenue expectations by 13% to $1.6-1.68 billion, primarily due to weakening conditions in China affecting industry-wide demand. The outlook reflects approximately 3.5 million units reduction in EyeQ volume expectations for H2 2024, while SuperVision volume projections were also cut due to new tariffs in US and Europe impacting delivery ramp-up.Despite near-term challenges, Mobileye remains optimistic about medium-term growth prospects, citing continued SuperVision/Chauffeur progress and expanded collaboration with Zeekr. The company is pursuing multiple high-volume opportunities in the mid-priced vehicle segments, leveraging its versatile portfolio to serve emerging OEM demands for advanced ADAS systems.