Mobileye Global Inc. (NASDAQ: MBLY) reported first-quarter revenue of $558 million, a 27% increase from the same period last year, driven primarily by higher EyeQ chip volumes. The autonomous driving technology company also announced a $250 million share repurchase program and raised its full-year revenue guidance.

The company posted a diluted loss per share of $4.68 under generally accepted accounting principles, significantly impacted by a $3.8 billion goodwill impairment charge. This non-cash write-down relates to goodwill from Intel's 2017 acquisition of Mobileye. On an adjusted basis, the company earned $0.12 per diluted share.

Revenue growth was attributed to a 28% increase in EyeQ system-on-chip volumes, with some growth related to customers normalizing safety stock levels after drawdowns in the fourth quarter of 2025. The company shipped 10.8 million systems in the quarter at an average selling price of $49.30.

Mobileye generated $75 million in operating cash flow during the quarter. The company completed its acquisition of Mentee Robotics Ltd. in February for $591 million net of cash acquired, which contributed to a reduction in the company's cash balance.

For the full year 2026, Mobileye raised the midpoint of its revenue guidance by 2% to a range of $1.935 billion to $2.015 billion. The company provided adjusted operating income guidance of $185 million to $235 million, representing an 8% increase at the midpoint.

The share repurchase authorization is intended to partially offset dilution from stock-based compensation and shares issued as part of the Mentee Robotics acquisition, according to the company's press release statement.