Mobileye Global (MBLY) Canaccord Genuity's 46th Annual Growth Conference summary

Business update and inventory management

• Inventory levels at Tier 1 customers are around five weeks, reflecting industry-wide trends for higher safety stock due to supply chain tightness.

• Second half guidance factors in potential inventory reductions by Tier 1s at year-end, leading to slightly lower expectations compared to the first half.

• Working capital impacts are being seen across auto suppliers, with some holding more inventory than usual.

Product development and pricing outlook

• Three major design wins for Mobileye Surround ADAS will launch in 2028, with ASPs 2.5–3x higher than current base ADAS, and similar margin profiles.

• Expectation that 30–40% of volume will convert to higher-value products over the next four to five years, potentially raising ASPs to $80–$90.

• Mobileye SuperVision and Chauffeur systems will command even higher ASPs ($1,300 and $2,500–$3,000, respectively), with SuperVision launching in Porsche in 2027.

• Average selling price with a major OEM is expected to double by 2030 on 7 million units, driving meaningful revenue growth.

Regulatory and industry trends

• European safety regulations for 2029 will require advanced side-view detection, pushing adoption of surround camera systems.

• Mobileye Surround ADAS is positioned as a mainstream solution to meet these evolving requirements.

• Consumer willingness to pay for advanced autonomy is still uncertain, but recent increases in Tesla FSD adoption are influencing OEM interest.