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Most of the revenue comes from selling EyeQ SoCs to OEM customers through Tier 1 suppliers.
A few years ago, we seemed to be on the brink of an autonomous vehicle (AV) revolution. Companies like Tesla, Uber, and Google regularly test the technology, even in residential areas, promising a future full of cars with no one behind the wheel.
Of course it didn’t happen. In fact, despite spending billions of dollars developing the technology, some believe it will take him at least another decade to achieve that vision.
Meanwhile, many companies are still betting on it, including Mobileye, which is developing self-driving technology and advanced driver assistance systems (ADAS) such as cameras, computer chips and software. Founded in 1999, the company was acquired by Intel in 2017 and went public again in October 2022.
The company, which has partnered with manufacturers such as BMW, Nissan and Volkswagen, has developed features such as the EyeQ System-on-Chip (SoC), which uses camera sensors to provide features such as automatic emergency braking and adaptive cruise control. . , Lane Keeping Assist, Traffic Jam Assist, Forward Collision Warning.
The company also has Road Experience Management (REM), a high-precision mapping system that generates AV maps from crowdsourced data. A redundant sensor fusion architecture, called true redundancy, uses data streams from 360 surround-view cameras, lidar, and radar for autonomous driving. The Responsibility-Sensitive Safety (RSS) framework is used by international organizations currently developing standards for autonomous vehicle safety.
As of July 2, 2022, the company’s solutions have been installed in approximately 800 vehicle models, and our SoCs have been deployed in over 117 million vehicles. The company actively cooperates with over 50 Original Equipment Manufacturers (OEMs).
“Our solution portfolio is built on a comprehensive suite of purpose-built software and hardware technologies designed to deliver the capabilities needed to enable the future of ADAS and autonomous driving. These technologies can be used to deliver mission-critical capabilities at the edge and in the cloud, improving road user safety and revolutionizing the driving experience and movement of people and goods around the world. ,” the company wrote in its S-1 filing with the SEC.
“Our industry-leading technology platform, built on over 20 years of research, development, data collection and validation, and purpose-built software and hardware design, not only provides excellent safety ratings, but also our We will not only provide leadership in ADAS solutions for our customers, but also enable large-scale deployment of autonomous driving solutions.”
The company now derives almost all of its revenue from commercially deployed ADAS solutions. This means that it sells its solutions to original equipment manufacturers (OEMs) through sales to Tier 1 automotive suppliers who implement its products in their vehicles.
“We have strong relationships directly with OEMs due to the complex nature of our products and the need to customize and validate our products and integrate them into their overall ADAS systems,” the company explains. doing.
The majority of the company’s revenue comes from EyeQ SoC sales, accounting for approximately 94%, 93% and 91% of revenue in 2021, 2020 and 2019 respectively.
The company’s revenue in 2021 was $1.4 billion, up 43% from $967 million in 2020.
Mobileye went public on October 26, and its stock price climbed more than 37% upon its debut, raising $861 million and valuing it at $17 billion.
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