Mobileye Swings to $3.8B Net Loss in Q1 2026 on $3.3B Goodwill Writedown

Mobileye Global Inc. (NASDAQ: MBLY), a provider of advanced driver-assistance systems and autonomous vehicle technology, posted a net loss of $3.82 billion for the quarter ending March 28, 2026, compared to a $102 million loss in the same period a year earlier. The loss was driven by $3.85 billion in operating expenses, including a substantial non-cash goodwill impairment charge. Read more earnings reports.

Revenue climbed 27% to $558 million from $438 million in the prior-year quarter. Cost of revenue rose to $283 million from $231 million, leaving gross profit at $275 million versus $207 million a year earlier. The company's gross margin expanded to 49% from 47% in the comparable period.

Operating expenses ballooned to $4.17 billion in the quarter, up from $324 million a year earlier. Research and development spending increased to $323 million from $275 million. The operating loss reached $3.90 billion, compared to a $117 million operating loss in the first quarter of fiscal 2025.

The company reported a loss per share of $4.68, based on 817 million weighted average shares outstanding, compared to a loss of $0.13 per share on 812 million shares in the year-ago period.

Cash and cash equivalents stood at $1.21 billion as of March 28, down from $1.84 billion at the end of December 2025. The company generated $75 million in cash from operations during the quarter, down from $109 million in the prior-year period. Cash used in investing activities totaled $699 million, primarily reflecting capital expenditures and investments.

Total assets fell sharply to $8.74 billion from $12.49 billion at year-end, with goodwill declining to $4.91 billion from $8.20 billion. The impairment reduced stockholders' equity to $8.16 billion from $11.88 billion as of December 27, 2025. The retained earnings deficit widened to $7.27 billion from $3.45 billion.

Current assets decreased to $1.99 billion from $2.48 billion, while current liabilities edged up to $419 million from $406 million. Accounts receivable rose to $226 million from $131 million, while inventory declined to $303 million from $327 million.

Financial Summary