Q4 2024 Mobileye Global Inc Earnings Call Transcript
Key Points
- Mobileye Global Inc (MBLY) reported a robust operating cash flow of $400 million for 2024, consistent with 2023 despite revenue and earnings declines.
- The company experienced higher-than-expected EyeQ volume from Chinese domestic OEMs, contributing to a 9% increase in Q4.
- Mobileye Global Inc (MBLY) continues to win new ADAS business with core customers and is seeing opportunities with new customers.
- The company has made significant technological advancements, particularly in AI efficiency, which are expected to enhance future product offerings.
- Mobileye Global Inc (MBLY) is progressing with customer engagements that are expected to lead to a steady cadence of announcements in 2025, consistent with their strategic goals.
- Mobileye Global Inc (MBLY) is taking a conservative approach to guidance due to uncertainties in customer forecasting, particularly with Chinese OEMs.
- There is a risk that Zeekr could choose to go with an in-house system for the Zeekr 009, which could impact Mobileye's volumes.
- The company is assuming a deterioration in Chinese OEM volumes due to low visibility, which could affect future performance.
- Operating expenses are expected to remain high, with an average of $250 million per quarter in 2025, potentially impacting profitability.
- The exact timing of advanced product design wins remains challenging to predict, which could delay expected revenue from these initiatives.
Greetings and welcome to the Mobileye fourth quarter and full year 2024 earnings call. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the call over to your host, Mr. Dan Galves. Thank you, sir. You may begin.
Thank you. Hello, everyone, and welcome to Mobileye's fourth quarter and full year 2024 earnings conference call for the period ending December 28, 2024. Please note that today's discussion contains forward-looking statements based on the business environment as we currently see it. Such statements involve risks and uncertainties. Please refer to the accompanying press release which includes additional information on the specific factors that could cause actual results to differ materially.
Additionally, on this call, we will refer to both GAAP and non-GAAP figures. A reconciliation of GAAP to non-GAAP financial measures is provided in our posted earnings release.
Joining us on the call today are Professor Amnon
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