MobilEye on the fast lane: 65% growth

9 May, 2016

MobilEye develops technologies for autonomous cars in cooperation with companies such as Tesla, GM and Nissan. Autonomous cars are expected to appear on roads by 2020

MobilEye develops technologies for autonomous cars in cooperation with companies such as Tesla, GM and Nissan. Autonomous cars are expected to appear on roads by 2020

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Jerusalem based ADAS developer Mobileye had a great quarter – the company’s revenues in Q1 2016 amounted to $72.2 million, a 65% increase compared to $45.6 million in the same quarter last year, and a 4.7% increase compared to Q4 2015. The reported earnings were better than $73 million figure expected by analysts. The company’s net profit was $29.1 million, compared to $10.1 million in Q1 2015.

Mobileye develops Advanced Driver Assistance Systems based on computer vision technologies. The system records and analyses road conditions and uses collected data to supply the driver with real time alerts in a wide range of scenarios such as danger of collision or lane departure. Mobileye’s system are installed in vehicles produced by some 25 auto manufacturers such as Ford, Volkswagen, Audi, BMW, Volvo, Hyundai and more. The system is also available to private customers for installing in their cars.

Mobileye raises prices

The revenues from direct sales to auto manufacturers (OEM) amounted to $61.4 million, compared to $36.6 million last year. Revenues from the after Markets sale of systems to private car owners totaled $13.8 million, compared to $9 million the year before. The sales of Mobileye’s flagship product – EyeQ chip – increased by 62% to 1.3 million units, compared to 812K units shipped in Q1 2015. Mobileye also raised the average price of a unit from $43.7 to $44.2 in Q1 2016.

2President and CEO Ziv Aviram said that EyeQ4 chip is achieving excellent performance ahead of its official launch on already sourced programs for 2018, “while we are in advanced development of our fifth generation EyeQ chip planned to be launched in 2020. Our dedication to novel technologies poises us as a leading player in the ADAS and autonomous car arena”.

Autonomous future

The Advanced Driver Assistant Systems market is growing substantially in recent years. According to the Mordor Intelligence research group, the market is expected to expand by 28% per year, reaching a $78.1 billion size by 2020. But the real revolution lies somewhere else: the development of driverless vehicles. According to analysts as well as the automotive industry itself, fully automated cars will roam the roads as soon as 2020-2021.

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Tesla’s autopilot screen

Mobileye invests a lot of resources in the development of technologies for autonomous cars. The company is relentlessly expanding its cooperation’s with automotive manufacturers working on such cars. It supply Tesla with technologies for its  unique AutoPilot system. Some reports maintain that last March Tesla founder Elon Musk visited Mobileye’s Israel headquarters  to examine new technologies in development.

In January, Mobileye unveiled a new road map technology named Road Experience Mapping. The technology is based on software running on Mobileye’s EyeQ processing platforms that extracts landmarks and roadway information at extremely low bandwidths, approximately 10kb per kilometer of driving.  Additionally, back-end software running on the Cloud integrates the segments of data sent by all vehicles with the on-board software into a global map. Real time road mapping is a must for the development of an autonomous car. Mobileye has announced that the system will be integrated in autonomous cars developed by GM, Nisan and more.

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