Financial Performance:
- Revenue: $486 million (Q3 2024), down 23.70% YoY but up 10.71% QoQ.
- Gross Profit: $237 million, with a gross profit margin of 48.8%.
- Net Income: $-2.715 billion, reflecting a net margin of -5.59%.
- EPS: $-3.35, a significant decline from prior periods.
- Cash and Cash Equivalents: $1.293 billion, indicating strong liquidity.
- Operating Cash Flow: Positive $126 million in Q3, up from $70 million in the first half of 2024.
Operating Expenses: $2.795 billion, mainly driven by R&D for future advancements in their driver assistance systems, positioning Mobileye for improved efficiency moving forward.
Management indicated the annual run rate for operating expenses could be slightly above $1 billion, with a focus on continued investments where necessary while also improving operating income as they streamline costs.