Mobileye Global Inc. 10-K

Item 8. Financial Statements INDEX TO CONSOLIDATED FINANCIAL STATEMENTS ​ ​ ​ ​ ​ Page Report of Independent Registered Public Accounting Firm (PCAOB name: Kesselman & Kesselman C.P.A.s and PCAOB ID: 1309 ) ​ 99 Consolidated Balance Sheets ​ 102 Consolidated Statements of Operations and Comprehensive Income (Loss) ​ 103 Consolidated Statements of Changes in Equity ​ 104 Consolidated Statements of Cash Flows ​ 105 Notes to Consolidated Financial Statements ​ 106 ​ ​ ​ ​ 98 Table of Contents ​ Report of Independent Registered Public Accounting Firm To the Board of Directors and Shareholders of Mobileye Global Inc. Opinions on the Financial Statements and Internal Control over Financial Reporting We have audited the accompanying consolidated balance sheets of Mobileye Global Inc. and its subsidiaries (the “Company”) as of December 27, 2025 and December 28, 2024, and the related consolidated statements of operations and comprehensive income (loss), of changes in equity and of cash flows for each of the three years in the period ended December 27, 2025, including the related notes (collectively referred to as the “consolidated financial statements”). We also have audited the Company’s internal control over financial reporting as of December 27, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 27, 2025 and December 28, 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 27, 2025 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 27, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO. Basis for Opinions The Company’s management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in Management’s Report on Internal Control over Financial Reporting appearing under Item 9A. Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company’s internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects. Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions. 99 Table of Contents Definition and Limitations of Internal Control over Financial Reporting A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements. Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Critical Audit Matters The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates. Goodwill Impairment Assessment – Mobileye reporting unit As described in Note 10 to the consolidated financial statements, the Company’s goodwill balance was $8,200 million as of December 27, 2025, and the goodwill associated with the Mobileye reporting unit was $8,089 million. Management conducts an impairment test as of the end of each year, or more frequently if events or circumstances indicate that the carrying value of goodwill may be impaired. Potential impairment is identified by comparing the fair value of a reporting unit to its carrying value, including goodwill. In 2025, the Company performed a detailed quantitative analysis for the Mobileye reporting unit. Based on the goodwill impairment assessment during the year ended December 27, 2025, no goodwill impairment charge related to the Mobileye reporting unit was recorded. Fair value is estimated by management using a discounted cash flow model. Management’s cash flow projections for the Mobileye reporting unit included significant judgments and assumptions relating to financial projections, terminal growth rate and the discount rate. The principal considerations for our determination that performing procedures relating to the goodwill impairment assessment of the Mobileye reporting unit is a critical audit matter are (i) the significant judgment by management when developing the fair value estimate of the Mobileye reporting unit, and (ii) a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating management’s significant assumptions related to financial projections, terminal growth rate and the discount rate. In addition, the audit effort involved the use of professionals with specialized skills and knowledge. 100 Table of Contents Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. These procedures included testing the effectiveness of controls relating to management’s goodwill impairment assessment, including controls over the valuation of the reporting unit. These procedures also included, among others, (i) testing management’s process for developing the fair value estimate; (ii) evaluating the appropriateness of the discounted cash flow model used by management; (iii) testing the completeness and accuracy of underlying data used in the discounted cash flow model; (iv) evaluating the reasonableness of the significant assumptions used by management related to financial projections, terminal growth rate and the discount rate. Evaluating management’s assumptions related to future cash flow projections involved evaluating whether the assumptions used by management were reasonable considering (i) the current and past performance of the Mobileye reporting unit, (ii) the consistency with external market and industry data, (iii) whether these assumptions were consistent with evidence obtained in other areas of the audit, and (iv) assessing the adequacy of disclosures in the consolidated financial statements. Professionals with specialized skill and knowledge were used to assist in evaluating the appropriateness of the discounted cash flow model and the reasonableness of the discount rate and terminal growth rate assumptions. /s/ Kesselman & Kesselman Certified Public Accountants (Isr.) A member firm of PricewaterhouseCoopers International Limited ​ Tel Aviv, Israel ​ February 12, 2026 ​ We have served as the Company’s auditor since 2022. ​ ​ ​ 101 Table of Contents MOBILEYE GLOBAL INC. CONSOLIDATED BALANCE SHEETS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 27, ​ ​ ​ December 28, U.S. dollars in millions, except share and per share data 2025 2024 Assets ​ ​ ​ ​ Current assets ​ ​ ​ ​ Cash and cash equivalents ​ $ 1,836 ​ $ 1,426 Trade accounts receivable, net ​ 131 ​ 212 Inventories ​ 327 ​ 415 Other current assets ​ 184 ​ 121 Total current assets ​ $ 2,478 ​ $ 2,174 Non-current assets ​ ​ ​ ​ ​ ​ Property and equipment, net ​ 473 ​ 458 Intangible assets, net ​ 1,166 ​ 1,609 Goodwill ​ 8,200 ​ 8,200 Other long-term assets ​ 175 ​ 138 Total non-current assets ​ 10,014 ​ 10,405 TOTAL ASSETS ​ $ 12,492 ​ $ 12,579 Liabilities and Equity ​ ​ ​ ​ ​ ​ Current liabilities ​ ​ ​ ​ ​ ​ Accounts payable and accrued expenses ​ $ 228 ​ $ 190 Employee related accrued expenses ​ 141 ​ 105 Related party payable ​ ​ 4 ​ ​ 4 Other current liabilities ​ 33 ​ 34 Total current liabilities ​ ​ 406 ​ ​ 333 Non-current liabilities ​ ​ ​ ​ Long-term employee benefits ​ 78 ​ 62 Deferred tax liabilities ​ 60 ​ 47 Other long-term liabilities ​ 67 ​ 50 Total non-current liabilities ​ 205 ​ 159 Contingencies (see Note 14) ​ ​ ​ ​ ​ ​ TOTAL LIABILITIES ​ $ 611 ​ $ 492 Equity ​ ​ ​ ​ Class A common stock: $ 0.01 par value; 4,000,000,000 shares authorized; shares issued and outstanding: 216,980,847 as of December 27, 2025 and 100,226,477 as of December 28, 2024 ​ 2 ​ 1 Class B common stock: $ 0.01 par value; 1,500,000,000 shares authorized; shares issued and outstanding: 597,768,015 as of December 27, 2025 and 711,500,000 as of December 28, 2024 ​ ​ 6 ​ ​ 7 Additional paid-in capital ​ 15,308 ​ 15,137 Accumulated other comprehensive income (loss), net of tax ​ ​ 17 ​ ​ 2 Retained earnings (accumulated deficit) ​ ​ ( 3,452 ) ​ ​ ( 3,060 ) TOTAL EQUITY ​ ​ 11,881 ​ ​ 12,087 TOTAL LIABILITIES AND EQUITY ​ $ 12,492 ​ $ 12,579 ​ The accompanying notes are an integral part of these consolidated financial statements. ​ 102 Table of Contents MOBILEYE GLOBAL INC. CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ December 27, December 28, December 30, U.S. dollars in millions, except share and per share data ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Revenue ​ ​ ​ $ 1,894 ​ $ 1,654 ​ ​ ​ $ 2,079 Cost of revenue ​ 990 ​ ​ 913 ​ 1,032 Gross profit ​ 904 ​ ​ 741 ​ 1,047 Research and development, net ​ 1,151 ​ ​ 1,083 ​ 889 Sales and marketing ​ 113 ​ ​ 118 ​ 118 General and administrative ​ 80 ​ ​ 70 ​ 73 Goodwill impairment ​ ​ — ​ ​ 2,695 ​ ​ — Total operating expenses ​ 1,344 ​ ​ 3,966 ​ 1,080 Operating income (loss) ​ ( 440 ) ​ ​ ( 3,225 ) ​ ( 33 ) Financial income (expense), net ​ 63 ​ ​ 62 ​ 49 Income (loss) before income taxes ​ ( 377 ) ​ ​ ( 3,163 ) ​ 16 Benefit (provision) for income taxes ​ ( 15 ) ​ ​ 73 ​ ( 43 ) Net income (loss) ​ $ ( 392 ) ​ $ ( 3,090 ) ​ $ ( 27 ) Earnings (loss) per share attributed to Class A and Class B stockholders: ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ $ ( 0.48 ) ​ $ ( 3.82 ) ​ $ ( 0.03 ) Weighted-average number of shares used in computation of earnings (loss) per share attributed to Class A and Class B stockholders (in millions): ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ 813 ​ ​ 809 ​ 805 Net income (loss) ​ ( 392 ) ​ ​ ( 3,090 ) ​ ( 27 ) Other comprehensive income (loss), net of tax ​ 15 ​ ​ 2 ​ 9 TOTAL COMPREHENSIVE INCOME (LOSS) ​ $ ( 377 ) ​ $ ( 3,088 ) ​ $ ( 18 ) ​ The accompanying notes are an integral part of these consolidated financial statements. ​ 103 Table of Contents MOBILEYE GLOBAL INC. CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Common Stock ​ ​ ​ ​ Accumulated Other ​ Retained ​ Total ​ ​ Number of ​ ​ ​ Additional ​ Comprehensive ​ Earnings ​ Shareholders’ U.S. dollars except number of shares, in millions ​ ​ ​ shares ​ ​ ​ Amount ​ ​ ​ paid-in capital ​ ​ ​ Income (Loss) ​ ​ ​ (Accumulated Deficit) ​ ​ ​ Equity Balance as of December 31, 2022 ​ 802 ​ $ 9 ​ $ 14,737 ​ $ ( 9 ) ​ $ 57 ​ $ 14,794 Net income (loss) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ( 27 ) ​ ​ ( 27 ) Other comprehensive income (loss), net ​ — ​ ​ — ​ ​ — ​ ​ 9 ​ ​ — ​ ​ 9 Tax sharing agreement with Parent ​ — ​ ​ — ​ ​ ( 3 ) ​ ​ — ​ ​ — ​ ​ ( 3 ) Share-based compensation expense ​ — ​ ​ — ​ ​ 252 ​ ​ — ​ ​ — ​ ​ 252 Recharge to Parent for Share-based compensation ​ — ​ ​ — ​ ​ ( 100 ) ​ ​ — ​ ​ — ​ ​ ( 100 ) Issuance of common stock under employee share-based compensation plans ​ 4 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Secondary offering ​ — ​ ​ * ​ ​ — ​ ​ — ​ ​ — ​ ​ * Balance as of December 30, 2023 ​ 806 ​ ​ 8 ​ ​ 14,886 ​ ​ — ​ ​ 30 ​ ​ 14,924 Net income (loss) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ( 3,090 ) ​ ​ ( 3,090 ) Other comprehensive income (loss), net ​ — ​ ​ — ​ ​ — ​ ​ 2 ​ ​ — ​ ​ 2 Tax sharing agreement with Parent ​ — ​ ​ — ​ ​ 34 ​ ​ — ​ ​ — ​ ​ 34 Share-based compensation expense ​ — ​ ​ — ​ ​ 279 ​ ​ — ​ ​ — ​ ​ 279 Recharge to Parent for Share-based compensation ​ — ​ ​ — ​ ​ ( 62 ) ​ ​ — ​ ​ — ​ ​ ( 62 ) Issuance of common stock under employee share-based compensation plans ​ 6 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Balance as of December 28, 2024 ​ 812 ​ ​ 8 ​ ​ 15,137 ​ ​ 2 ​ ​ ( 3,060 ) ​ ​ 12,087 Net income (loss) ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ ( 392 ) ​ ​ ( 392 ) Other comprehensive income (loss), net ​ — ​ ​ — ​ ​ — ​ ​ 15 ​ ​ — ​ ​ 15 Tax sharing agreement with Parent ​ — ​ ​ — ​ ​ 3 ​ ​ — ​ ​ — ​ ​ 3 Share-based compensation expense ​ — ​ ​ — ​ ​ 277 ​ ​ — ​ ​ — ​ ​ 277 Recharge to Parent for Share-based compensation ​ — ​ ​ — ​ ​ ( 9 ) ​ ​ — ​ ​ — ​ ​ ( 9 ) Issuance of common stock under employee share-based compensation plans ​ 9 ​ ​ — ​ ​ — ​ ​ — ​ ​ — ​ ​ — Repurchase of common stock from Parent ​ ( 6 ) ​ ​ — ​ ​ ( 100 ) ​ ​ — ​ ​ — ​ ​ ( 100 ) Balance as of December 27, 2025 ​ 815 ​ $ 8 ​ $ 15,308 ​ $ 17 ​ $ ( 3,452 ) ​ $ 11,881 * Rounding of Class A and Class B share amounts due to Secondary offering. The accompanying notes are an integral part of these consolidated financial statements. ​ ​ 104 Table of Contents MOBILEYE GLOBAL INC. CONSOLIDATED STATEMENTS OF CASH FLOWS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ December 27, December 28, December 30, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 CASH FLOWS FROM OPERATING ACTIVITIES ​ ​ ​ ​ ​ ​ Net income (loss) ​ $ ( 392 ) ​ $ ( 3,090 ) ​ $ ( 27 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of property and equipment ​ ​ 74 ​ ​ 62 ​ ​ 39 Share-based compensation ​ ​ 277 ​ ​ 279 ​ ​ 252 Amortization of intangible assets ​ ​ 443 ​ ​ 444 ​ ​ 474 Goodwill impairment ​ ​ — ​ ​ 2,695 ​ ​ — Exchange rate differences on cash and cash equivalents ​ ​ ( 17 ) ​ ​ 2 ​ ​ 5 Deferred income taxes ​ ​ ( 15 ) ​ ​ ( 101 ) ​ ​ ( 14 ) Interest with related party, net ​ ​ — ​ ​ — ​ ​ 16 (Gains) losses on equity and debt investments, net ​ ​ ( 1 ) ​ ​ ( 3 ) ​ ​ — Other ​ ​ 9 ​ ​ — ​ ​ 1 Changes in operating assets and liabilities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Decrease (increase) in trade accounts receivable ​ ​ 81 ​ ​ 124 ​ ​ ( 88 ) Decrease (increase) in other current assets ​ ​ ( 16 ) ​ ​ 15 ​ ​ 8 Decrease (increase) in inventories ​ ​ 89 ​ ​ ( 24 ) ​ ​ ( 278 ) Decrease (increase) in other long - term assets ​ ​ ( 13 ) ​ ​ ( 11 ) ​ ​ ( 3 ) Increase (decrease) in accounts payable, accrued expenses and related party payable ​ ​ 26 ​ ​ ( 29 ) ​ ​ 10 Increase (decrease) in employee-related accrued expenses and long-term benefits ​ ​ 52 ​ ​ 25 ​ ​ ( 1 ) Increase (decrease) in other current liabilities ​ ​ ( 5 ) ​ ​ 6 ​ ​ ( 7 ) Increase (decrease) in other long-term liabilities ​ ​ 10 ​ ​ 6 ​ ​ 7 Net cash provided by operating activities ​ ​ 602 ​ ​ 400 ​ ​ 394 CASH FLOWS FROM INVESTING ACTIVITIES ​ ​ ​ ​ ​ ​ ​ ​ ​ Purchase of property and equipment ​ ​ ( 79 ) ​ ​ ( 81 ) ​ ​ ( 98 ) Purchases of debt and equity investments ​ ​ ( 106 ) ​ ​ ( 62 ) ​ ​ — Maturities and sales of debt and equity investments ​ ​ 94 ​ ​ 23 ​ ​ — Net cash used in investing activities ​ ​ ( 91 ) ​ ​ ( 120 ) ​ ​ ( 98 ) CASH FLOWS FROM FINANCING ACTIVITIES ​ ​ ​ ​ ​ ​ ​ ​ ​ Share-based compensation recharge ​ ​ ( 6 ) ​ ​ ( 66 ) ​ ​ ( 100 ) Repurchase of common stock from Parent ​ ​ ( 100 ) ​ ​ — ​ ​ — Net cash used in financing activities ​ ​ ( 106 ) ​ ​ ( 66 ) ​ ​ ( 100 ) Effect of foreign exchange rate changes on cash and cash equivalents ​ ​ 17 ​ ​ ( 2 ) ​ ​ ( 5 ) Increase in cash, cash equivalents and restricted cash ​ ​ 422 ​ ​ 212 ​ ​ 191 Balance of cash, cash equivalents and restricted cash, at beginning of year ​ ​ 1,438 ​ ​ 1,226 ​ ​ 1,035 Balance of cash, cash equivalents and restricted cash, at end of year ​ $ 1,860 ​ $ 1,438 ​ $ 1,226 Supplementary non-cash investing and financing activities: ​ ​ ​ ​ ​ ​ ​ ​ ​ Non-cash purchase of property and equipment ​ $ 21 ​ $ 9 ​ $ 17 Tax sharing agreement with Parent ​ $ ( 3 ) ​ $ ( 34 ) ​ $ 3 Conversion of Class B common stock to Class A common stock ​ $ 1 ​ $ — ​ $ — Supplemental cash flow information: ​ ​ ​ ​ ​ ​ ​ ​ ​ Interest received from related party ​ $ — ​ $ — ​ $ 16 ​ The accompanying notes are an integral part of these consolidated financial statements. ​ ​ 105 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 1 - GENERAL Background Mobileye Global Inc. (“Mobileye”, “the Company” or “we”) is a leader in the development and deployment of advanced driver assistance systems (“ADAS”) and autonomous driving technologies and solutions, aimed to provide the capabilities required for the future of autonomous driving, leveraging a comprehensive suite of purpose-built software and hardware technologies. Mobileye operates as a subsidiary of Intel Corporation (“Intel” or the “Parent”), which acquired a majority stake in Mobileye in August 2017 (the “Mobileye Acquisition”). The remaining issued and outstanding shares of Mobileye were acquired by Intel in 2018. Intel directly or indirectly holds all of the Class B common stock of Mobileye as well as 50,000,000 shares of Class A common stock, which as of December 27, 2025, together represent approximately 79.5 % of our outstanding common stock and 97.3 % of the voting power of our common stock. Mobileye’s Class A common stock has been traded on the Nasdaq Global Select Market since October 26, 2022 under the ticker symbol “MBLY”. Secondary Offering, Share Repurchase and Conversion On July 9, 2025, the Company announced the pricing of a public secondary offering of 50,000,000 shares of Class A common stock (which shares were received upon the conversion of 50,000,000 shares of Class B common stock into Class A common stock) by Intel at a public offering price of $ 16.50 per share (the “Secondary Offering”), with Intel granting the underwriters a 30-day option to purchase up to an additional 7,500,000 shares of Class A common stock (the “Option”). The Secondary Offering closed on July 11, 2025. In connection with and conditional upon the closing of the Secondary Offering, on July 11, 2025 the Company purchased from Intel 6,231,985 shares of Class A common stock (which shares were received upon the conversion of 6,231,985 shares of Class B common stock into Class A common stock) at a price of $ 16.04625 per share, which is equal to the per share purchase price paid by the underwriters in the Secondary Offering pursuant to a share repurchase agreement with Intel (the “Share Repurchase”). The aggregate consideration paid by the Company for the Share Repurchase was $ 100 million and is subject to a nondeductible excise tax of 1 % pursuant to the Inflation Reduction Act of 2022. Upon closing of the Share Repurchase, the Company cancelled and retired the 6,231,985 shares of Class A common stock acquired pursuant to the Share Repurchase. The excess of the repurchase price over par value was charged to additional paid in capital. Following the closing of the Share Repurchase, the underwriters exercised the Option (which shares were received upon the conversion of 7,500,000 shares of Class B common stock into Class A common stock), which closed on July 11, 2025. The Company did not sell any shares of Class A common stock in the Secondary Offering or in respect of the exercise of the Option and did not receive any proceeds from the sale of shares offered by Intel. In addition to and conditional upon the closing of the Secondary Offering, Intel voluntarily converted pursuant to the Company’s Amended and Restated Certificate of Incorporation an additional 50,000,000 shares of Class B common stock to Class A common stock (the “Conversion”). The shares issued to Intel pursuant to the Conversion were issued pursuant to an exemption from registration pursuant to Section 3(a)(9) of the U.S. Securities Act of 1933. The Company received no proceeds from issuance of shares in the Conversion. The Company paid the costs, which were approximately $ 1 million, associated with the registration of shares in connection with the Secondary Offering and Option, other than underwriting discounts, fees and commissions. Upon completion of the Secondary Offering, Share Repurchase, Option and Conversion and as of December 27, 2025, Intel continues to directly or indirectly hold all of the Class B common stock of Mobileye as well as 50,000,000 shares of Class A common stock, which together represent approximately 79.5 % of our outstanding common stock and 97.3 % of the voting power of our common stock. 106 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS As a result of the Secondary Offering, Share Repurchase, Option and Conversion, the Company has concluded that from a U.S. income tax perspective, Intel no longer holds a sufficient percentage of the Company’s issued and outstanding common stock, which resulted in the deconsolidation of the Company from Intel’s U.S. domestic income tax return on July 11, 2025 (the “Tax Deconsolidation”). Following the Tax Deconsolidation, the Company is no longer included in Intel’s U.S. domestic consolidated income tax return and will be filing its own U.S. corporate income tax returns for periods beginning July 12, 2025. Operations in Israel On October 7, 2023, Hamas launched a series of attacks on civilian and military targets in Southern Israel and Central Israel, to which the Israel Defense Forces responded. In addition, both Hezbollah and the Houthi movement attacked military and civilian targets in Israel, to which Israel responded, including through increased air and ground operations in Lebanon. In addition, the Houthi movement attacked international shipping lanes in the Red Sea, to which both Israel and the United States responded. Further, on April 13, 2024 and October 1, 2024, Iran launched a series of drone and missile strikes against Israel, to which Israel responded. Most recently, on June 13, 2025 Israel launched a preemptive attack on Iran to which Iran responded with ballistic missile and drone attacks. On June 23, 2025, Israel and Iran agreed to a ceasefire, although there is no assurance that the ceasefire will continue. On October 9, 2025, Israel, Hamas, the United States and other countries in the region agreed to a framework for a ceasefire in Gaza between Israel and Hamas. How long and how severe the current conflicts in Gaza, Northern Israel, Lebanon, Iran or the broader region last and become is unknown at this time and any continued clash among Israel, Hamas, Hezbollah, Iran or other countries or militant groups in the region may escalate in the future into a greater regional conflict. To date, our operations have not been materially affected, although as of February 3, 2026 approximately 3.3 % of our employees have been called to reserve duty in the Israel Defense Forces. However, any hostilities involving Israel, regional geopolitical instability or the interruption or curtailment of trade or diplomatic relations between Israel and its trading partners as a result thereof could adversely affect our business, results of operations, and financial condition. Other events during the current reporting period On December 8, 2025, the Company implemented a workforce reduction affecting approximately 200 employees, primarily in Israel. The related costs were in the amount of approximately $ 7 million, which was recorded as an expense in the year ended December 27, 2025. NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The Company operates on a 52-week or 53-week fiscal year that ends on the last Saturday in December. Fiscal years 2025, 2024 and 2023 were 52-week fiscal years. The consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”). All intercompany balances and transactions have been eliminated in consolidation. Use of estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, judgments and assumptions that affect the amounts and events reported and disclosed in the consolidated financial statements and accompanying notes. We base our estimates on historical experience and on various other assumptions and factors, including the current economic environment, that we believe to be reasonable under the circumstances. Actual results could differ from those estimates. On an on-going basis, management evaluates its estimates, judgments, and assumptions. The most significant estimates and assumptions relate to useful lives of intangible assets, impairment assessment of intangible assets and goodwill and income taxes. A change in estimates, including a change in the overall market value of the Company, could require reassessments of the items noted above. 107 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Functional currency The majority of the Company and its subsidiaries revenue are denominated in the United States (“U.S.”) dollar, as are most purchases of materials and components. Management believes that the currency of the primary economic environment in which the Company and its subsidiaries operate is the U.S. dollar, and thus, the U.S. dollar is the functional and reporting currency of the Company and its subsidiaries. Accordingly, transactions in currencies other than the U.S. dollar are measured and recorded in the functional currency using the exchange rate in effect at the date of the transaction. Monetary assets and liabilities that are denominated in currencies other than the U.S. dollar are measured using the official exchange rate at the balance sheet date. Non-monetary assets and liabilities are remeasured into the functional currency using the historical exchange rate. The effects of foreign currency remeasurements are recorded in the consolidated statements of operations and comprehensive income (loss) as financial income (expense), net. Investments Debt Investments Marketable debt securities consist of highly liquid U.S. government bonds with maturities of up to six months when purchased. These debt investments are classified as Available For Sale investments and measured at fair value with unrealized gains and losses, net of tax, recorded in accumulated other comprehensive income (loss). We consider all highly liquid debt investments that are readily convertible into cash and have an original maturity of three months or less at the time of purchase to be cash equivalents. Debt investments with original maturities of greater than three months and less than one year, are classified within other current assets. Available for sale debt investments are subject to a periodic impairment review. For investments in an unrealized loss position, we determine whether a credit loss exists. We recognize an allowance for credit losses, up to the amount of the unrealized loss when appropriate, and write down the amortized cost basis of the investment if it is more likely than not we will be required or we intend to sell the investment before recovery of its amortized cost basis. Equity Investments Equity investments consist of investments in marketable and non-marketable equity securities. Investments in marketable equity securities are measured and recorded at fair value with changes in fair value, whether realized or unrealized, recorded in the statement of operations and comprehensive income (loss). Equity investments are classified within other current assets. Investments in non-marketable equity securities without a readily determinable fair value, are measured using the measurement alternative under ASC Topic 321, Investments - Equity Securities. This measurement alternative allows us to measure the equity investment at its cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. Cash, cash equivalents and restricted cash Cash equivalents consist of short term deposits and money market funds. The short term deposits are short-term unrestricted highly liquid investments that are readily convertible to cash and with original maturities of three months or less at acquisition. The money market funds consist of institutional investors money market funds and are readily redeemable to cash. Restricted bank deposits are cash amounts related to bank guarantees mainly in connection with lease agreements and import of vehicles. Such deposits are stated at cost including accrued interest, which approximates market values. These amounts are included in other current and long-term assets on the consolidated balance sheets. 108 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The following is a reconciliation of the cash, cash equivalents and restricted cash for each period presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ ​ ​ December 27, ​ ​ ​ December 28, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 Cash $ 35 $ 56 Short term deposits ​ ​ 785 ​ ​ 419 Money market funds ​ ​ 1,016 ​ ​ 951 Restricted cash (within other current and other long-term assets) ​ 24 ​ 12 Cash, cash equivalents and restricted cash presented in the consolidated statements of cash flows ​ $ 1,860 ​ $ 1,438 ​ Fair value measurement When determining fair value, the Company considers the principal or most advantageous market in which it would transact, as well as assumptions that market participants would use when pricing the asset or liability. The Company assesses fair value hierarchy levels for its financial assets based on the underlying financial instrument. Consistent with Accounting Standards Codification (“ASC”) 820, Fair Value Measurement, the Company follows a three-tier fair value hierarchy as a basis for considering the assumptions and for inputs used in the valuation methodologies in measuring fair value: Level 1: Quoted prices (unadjusted) in active markets that are accessible at the measurement date for identical assets or liabilities. The fair value hierarchy gives the highest priority to Level 1 inputs. Level 2: Observable prices that are based on inputs not quoted on active markets but are corroborated by market data or active market data for similar, but not identical assets or liabilities. Level 3: Unobservable inputs are used when little or no market data is available. The Company monitors and reviews the inputs and results of these valuation models to help ensure the fair value measurements are reasonable and consistent with market experience in similar asset classes. The fair value hierarchy gives the lowest priority to Level 3 inputs. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs and minimize the use of unobservable inputs to the extent possible and if applicable considers credit risk in its assessment of fair value. The carrying amounts of short term deposits classified as cash equivalents, trade accounts receivable and accounts payable approximates their fair value due to the short maturity of these items. The Company’s investment in money market funds is measured at fair value within Level 1 of the fair value hierarchy because they consist of financial assets for which quoted prices are available in an active market. Interest income related to money market funds for the years ended December 27, 2025, December 28, 2024 and December 30, 2023 amounted to $ 41 million, $ 47 million and $ 46 million, respectively. The Company’s investment in U.S. government bonds is measured at fair value within Level 1 of the fair value hierarchy because they consist of U.S. government bonds for which quoted prices are available in an active market. The Company’s marketable equity investments are measured at fair value within Level 1 of the fair value hierarchy because they consist of investments in marketable equity securities for which quoted prices are available in an active market. The Company’s derivative instruments designated as hedging instruments, are measured at fair value within Level 2 of the fair value hierarchy. 109 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Inventories Inventories are stated at the lower of cost and net realizable value. The Company computes inventory cost on an average cost basis and adjusts for excess and obsolete inventories primarily based on future demand and market conditions, including product-specific facts and circumstances which considers the Company’s customer base and an assessment of selling price in relation to product cost. Once written-down, a new lower cost basis for that inventory is established. Property and equipment, net Property and equipment are stated at cost, less accumulated depreciation. Property and equipment are depreciated on a straight-line basis over their estimated useful lives. The estimated useful lives per asset type are as follows: ​ ​ ​ ​ ​ ​ ​ ​ Years Computers, electronic equipment and software 3 - 7 (Mainly 4) Vehicles 7 Office furniture and equipment 14 Buildings 15 - 25 (Mainly 25) ​ Leasehold improvements are amortized on a straight-line basis over the shorter of the remaining lease term or estimated useful life of the improvements. Assets in construction are not depreciated until they are available for their intended use. Goodwill The Company performs an annual impairment assessment of goodwill at the reporting unit level in the fourth quarter of each year, or more frequently if indicators of potential impairment exist. The analysis may include both qualitative and quantitative factors to assess the likelihood of impairment. In accordance with ASC 350, the Company initially assesses qualitative factors to determine whether the existence of events or circumstances indicate that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. Qualitative factors include industry and market considerations, overall financial performance, and other relevant events and factors affecting the reporting unit. If the Company determines, based on this assessment, that it is more likely than not that the fair value of the reporting unit is less than its carrying amount, it performs a quantitative goodwill impairment test by comparing the reporting unit’s fair value with its carrying amount. An impairment loss is recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value. The Company’s quantitative impairment test may consider both the income approach and the market approach to estimate a reporting unit’s fair value. Significant estimates for the income approach include financial projections, terminal growth rate, and discount rate based on a reporting unit’s weighted average cost of capital. The estimated fair value using a market approach is based on a number of assumptions, including current market capitalization as corroboration of fair value. Forecasts and estimates are based on assumptions that are consistent with the plans and estimates used to manage the business. Changes in these estimates could change the conclusion regarding an impairment of goodwill. In the year ended December 27, 2025, no goodwill impairment loss was recognized. In the year ended December 28, 2024, a non-cash goodwill impairment loss of $ 2,695 million, was recognized for the Mobileye reporting unit, for further detail see Note 10 Goodwill . Intangible assets, net The Company amortizes acquisition-related intangible assets that are subject to amortization over their estimated useful life. 110 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The Company performs an annual review of significant finite-lived identified intangible assets to determine whether facts and circumstances indicate that the carrying amount may not be recoverable. These reviews can be affected by various factors, including external factors such as industry and economic trends, and internal factors such as changes in the Company’s business strategy and its forecasts for specific product lines. The Company did not record any impairment of intangible assets for any of the periods presented. Impairment of long-lived assets Long-lived assets held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Assets are categorized and evaluated for impairment at the lowest level of identifiable cash flows. In the event that the sum of the expected future undiscounted cash flows expected to be generated by the long-lived assets is less than the carrying amount of such assets, an impairment charge would be recognized and the assets would be written down to their estimated fair values. The Company did not record any impairment of long-lived assets for any of the periods presented. Research and development, net Research and development costs are expensed as incurred, and consist primarily of personnel, facilities, equipment, and supplies for research and development activities. For software embedded in products, the Company follows the provisions of ASC 985, Accounting for the Costs of Computer Software to Be Sold, Leased, or Otherwise Marketed, which requires that software development costs incurred in conjunction with development be charged to research and development expenses until technological feasibility is established. The technological feasibility is established upon completion of a working model. The costs incurred by the Company between technological feasibility and general release to the public have been insignificant. Accordingly, all research and development costs have been expensed as incurred. For development of Cloud-Enhanced ADAS™ systems, the Company applies ASC 350 - 40, Internal - use software, under which costs will be capitalized only when both the preliminary project stage is completed and it is probable that the software being developed is completed and used to perform the function intended. The Company enters into best-efforts non - refundable, non-recurring engineering (“NRE”) arrangements pursuant to which the Company is reimbursed for a portion of the research and development expenses attributable to specific development programs. The Company does not receive any additional compensation or royalties upon completion of such projects and the potential customer does not commit to purchase the resulting product in the future. The participation reimbursement received by the Company does not depend on whether there are future benefits from the project. All intellectual property generated from these arrangements is exclusively owned by the Company. Participation in expenses for research and development projects are recognized on the basis of the costs incurred and are netted against research and development expenses in the consolidated statements of operations and comprehensive income (loss). Research and development reimbursements of $ 94 million, $ 91 million, and $ 89 million were offset against research and development costs in the years ended December 27, 2025, December 28, 2024, and December 30, 2023, respectively. Derivatives and hedging During the fourth quarter of 2024 the Company initiated a foreign currency cash flow hedging program, designed to hedge the Company’s foreign exchange rate risk, resulting from ILS payroll expenses. The Company hedges portions of its forecasted payroll payments denominated in ILS for a period of up to 12 months, using forward contracts that are designated as cash flow hedges, as defined by ASC 815. These derivative instruments are measured at fair value within Level 2 of the fair value hierarchy. Derivative instruments are recorded as other current assets or other current liabilities, according to the timing of settlement. For these derivative instruments, designated as a cash flow hedge, gains and losses are reported as a component of other comprehensive income (loss) and reclassified into earnings in the same line item associated with the hedged transaction and in the same period or periods during which the hedged transaction affects the statement of operations and comprehensive income (loss). As of December 27, 2025, the Company expects to reclassify all of its unrealized gains and losses from accumulated other comprehensive income (loss) to earnings during the next twelve months. The cash flows associated with these derivatives are classified in the consolidated statements of cash flows consistently with the classification of the underlying hedged transaction, within cash flows from operating activities. 111 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The notional amount and fair value of outstanding derivatives at the end of each period were: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ December 27, December 28, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 Notional amount of derivatives contracts $ 303 $ 214 Fair value of derivative assets $ 18 $ 2 ​ The change in accumulated other comprehensive income (loss) relating to gains (losses) on derivatives used for hedging was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 27, ​ December 28, ​ December 30, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Other comprehensive income (loss) before reclassifications ​ $ 39 ​ ​ ​ $ 2 ​ ​ ​ $ — Amounts reclassified out of accumulated other comprehensive (income) loss * ​ ​ ( 23 ) ​ — ​ 10 Tax effects ​ ​ ( 1 ) ​ — ​ ( 1 ) Other comprehensive income (loss), net of tax ​ $ 15 $ 2 $ 9 * Amounts of gains (losses) reclassified from other comprehensive income (loss) into profit or loss are recorded in cost of revenue and operating expenses. Revenue recognition The Company recognizes revenue when performance obligations are satisfied as evidenced by the transfer of control of the Company’s products or services to customers. Substantially all of the Company’s revenue is derived from product sales. In accordance with contract terms, revenue for product sales is recognized at the time of product shipment from the Company’s facilities, as determined by the agreed upon ‘ex-works’ shipping terms which specify that title and risks will pass to the customer upon delivery at the Company’s warehouse. Revenue for product sales to resellers and distributors is recognized at the time of delivery of products to the resellers and distributors. The Company measures revenue based on the amount of consideration the Company expects to be entitled to in exchange for products or services. Variable consideration is estimated and reflected as an adjustment to the transaction price. The Company determines variable consideration, which consists primarily of various volume rebates, by estimating the most likely amount of consideration the Company expects to receive from the customer. Volume rebates earned by customers are offset against their receivable balances. Rebates earned by customers when they do not have outstanding receivable balances are recorded within other current liabilities. Substantially all of the Company’s contracts do not include right of return or acceptance provisions. Revenue is recognized net of any taxes invoiced to customers, which are subsequently remitted to governmental authorities. Any shipping and handling costs related to the fulfillment of sales are included in cost of revenue. Sales of the Company’s products regularly include warranties which provides the customer with assurance that the products delivered will perform in accordance with agreed-upon specifications. These standard warranties are assurance - type warranties and do not offer any services in addition to the assurance that the product will continue working as specified. Therefore, the warranties are not considered separate performance obligations. The Company is generally the principal in a transaction and, therefore, primarily records revenue on a gross basis. When the Company is a principal in a transaction, it has determined that it controls the ability to direct the use of the product prior to transfer to a customer, is primarily responsible for fulfilling the promise to provide the product or service to the customer, has discretion in establishing prices, and ultimately controls the transfer of the product or services provided to the customer. 112 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Advertising expenses Advertising expenses are charged to sales and marketing on the consolidated statements of operations and comprehensive income (loss) as incurred. Advertising expenses for the years ended December 27, 2025, December 28, 2024, and December 30, 2023 amounted to $ 3 million, $ 3 million and $ 4 million, respectively. Share-based compensation In June 2025, the stockholders of the Company approved the Amended and Restated Mobileye Global Inc. 2022 Equity Incentive Plan (the “2022 Plan”), which allows the compensation committee of the Company to make equity-based incentive awards to our employees, consultants and outside directors. Equity awards granted to employees are accounted for using the estimated grant date fair value. The Company values RSUs based on the market value of the underlying share of Mobileye common stock (as applicable) at the date of grant. The Company recognizes share-based compensation expense for the value of its awards, which have graded vesting based on service conditions, using the straight-line method over the requisite service period of each of the awards, net of estimated forfeitures. Income Taxes The provision for income tax consists of income taxes in the various jurisdictions where the Company is subject to taxation, primarily the United States and Israel. The Company computes the provision for income taxes under the asset and liability method prescribed by the Financial Accounting Standards Board (“FASB”) Guidance ASC 740, Income Taxes, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in these consolidated financial statements. Under this method, deferred tax assets and liabilities, resulting from temporary differences between the financial reporting and tax bases of assets and liabilities, are measured as of the balance sheet date using enacted tax rates expected to apply to taxable income in the years the temporary differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The realization of deferred tax assets depends upon the existence of sufficient taxable income, of appropriate character, within the carryback or carryforward periods under the tax law in the applicable tax jurisdiction. Valuation allowances are established when the Company determines, based on available information, that it is more likely than not that deferred tax assets will not be realized. Significant judgment is required in determining whether valuation allowances should be established, as well as the amount of such allowances. The Company records accruals for uncertain tax positions when the Company believes that it is more likely than not that a tax position will not be sustained on examination by tax authorities based on the technical merits of the position. The Company adjusts these accruals when facts and circumstances change, such as the closing of a tax audit or the refinement of an estimate. During the years ended December 30, 2023, December 28, 2024 and through the Secondary Offering in July 2025, certain components of the Company’s business operations were included in the Parent’s consolidated U.S. domestic income tax return while the Company continued to file various foreign income tax returns separately from the Parent. Following the Secondary Offering, which resulted in the Tax Deconsolidation (see also Note 1 General ), the Company is no longer included in the Parent’s U.S. domestic consolidated federal and applicable state income tax returns and will be filing its own U.S. corporate income tax returns for periods beginning July 12, 2025 onwards. Prior to the Tax Deconsolidation event, the income tax provision included in the Company’s consolidated financial statements was calculated using the separate return method, as if the Company had filed its own U.S. corporate income tax returns. The Tax Deconsolidation event did not have a material impact on the Company’s income tax provision for the year ended December 27, 2025. 113 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The Company had previously entered into a Tax Sharing Agreement with its Parent (which was amended and restated on August 14, 2024) (the Tax Sharing Agreement, as amended, the “TSA”), to establish the amount of cash payable for the Company’s share of the tax liability owed on consolidated tax return filings with its Parent. For periods prior to the Tax Deconsolidation, any differences between taxes currently payable to the Company’s Parent under the TSA and the current tax provision computed on a separate return basis, were reflected as adjustments to additional paid-in capital in the consolidated statement of changes in equity and financing activities within the consolidated statement of cash flows. As a result of the Tax Deconsolidation, starting July 12, 2025 the computation of cash payable between the Company and Intel, under the TSA, is no longer applicable with respect to U.S. federal and applicable state income taxes. Accordingly, starting July 12, 2025, Mobileye calculates and reports its U.S. federal and applicable state income tax liabilities as a standalone taxpayer and will no longer allocate or share tax attributes, liabilities or benefits with its Parent as previously required under the TSA. For periods prior to the Tax Deconsolidation, Mobileye and its Parent will continue to account for any outstanding tax sharing obligations in accordance with the terms of the TSA. For additional information regarding the Tax Sharing Agreement, see Note 9 Related Party Transactions . For further details regarding income tax, see Note 8 Income Taxes. Provision for warranties The Company provides warranties for its products, which vary with respect to each contract and in accordance with the nature of each specific product. The warranty terms vary from one to three years. The Company estimates the costs that may be incurred under its warranty and records a liability in the amount of such costs at the time revenue is recognized. The Company periodically assesses the adequacy of its recorded warranty liabilities and adjusts the amounts as necessary. Provision for warranties is included in other current liabilities on the consolidated balance sheets. Provision for warranties as of December 27, 2025 and December 28, 2024, as well as warranty expenses for the each of the years presented were not material. Loss contingencies The Company is currently involved in commercial claims within the ordinary course of business. The Company reviews the status of each matter and assesses its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the loss can be reasonably estimated, the Company accrues a liability for the estimated loss. When accruing these costs, the Company recognizes an accrual for an amount within a range of loss that is the best estimate within the range. When no amount within the range is a better estimate than any other, the Company accrues for the minimum estimated loss within the range. The Company discloses contingencies when it believes that a loss is not probable, but reasonably possible. Management believes that there are no current matters that would have a material effect on the Company’s consolidated balance sheets, statement of operations and comprehensive income (loss) or cash flows. Legal fees are expensed as incurred. Leases The Company accounts for leases in accordance with ASC 842, Leases, which requires lessees to recognize leases on the consolidated balance sheets and disclose key information about leasing arrangements. Leases primarily consist of real estate property and vehicles and are classified as operating leases with fixed payment terms. Certain operating leases provide for annual increases to lease payments based on an index or a rate. The Company determines if an arrangement is a lease, or contains a lease, at inception and records the leases upon lease commencement, which is the date when the underlying asset is made available for use by the lessor. Right-of-use (“ROU”) assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets and lease liabilities are included in other long-term assets, other current liabilities, and other long-term liabilities on the consolidated balance sheets. Lease expenses for the operating leases are recognized on a straight-line basis over the lease term and are included in operating expenses in the consolidated statements of operations and comprehensive income (loss). Options to extend or terminate the lease are taken into account when it is reasonably certain at the commencement date that such options will be exercised by the Company. 114 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The Company elected to apply the short-term lease exemption for lease with a non-cancelable period of twelve months or less. Additionally, the Company has lease agreements with lease and non-lease components. The non-lease components are accounted for separately and not included in the leased assets and corresponding liabilities. On the commencement date, lease payments that include variable lease payments dependent on an index or a rate (such as the Consumer Price Index), are initially measured using the index or rate at the commencement date. The interest rate used to determine the present value of the future lease payments is the Company’s incremental borrowing rate because the interest rate implicit in most of its leases is not readily determinable. Earnings (loss) per share Basic earnings (loss) per share is computed by dividing net income (loss) for the period by the weighted-average number of common shares outstanding during the period. Undistributed earnings (loss) are allocated proportionally to Class A and Class B stockholders as both classes are entitled to share equally, on a per share basis, in dividends and other distributions. Diluted earnings (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period, while giving effect to all potentially dilutive common shares to the extent they are dilutive. Potentially dilutive common shares result from the assumed vesting of RSUs under the 2022 Plan, using the “treasury stock” method. RSUs are not included in the computation of diluted earnings (loss) per share if the effect of their inclusion would have been anti-dilutive. See Note 7 Earnings (Loss) Per Share as well as Note 6 Equity, for further discussion on awards. Share repurchases We have elected to retire shares repurchased to date. The retired shares are equivalent to authorized, unissued shares and are no longer considered to be outstanding or held in treasury. The excess purchase price of the shares over the par value is recorded as a reduction to additional paid - in - capital or to retained earnings if the balance in additional paid - in capital is not sufficient. Concentration of credit risk Financial instruments that potentially subject the Company to a concentration of credit risk consist primarily of cash and cash equivalents, which include short-term deposits, money market funds, U.S. government bonds, derivative financial instruments, and also trade accounts receivable. The majority of the Company’s cash and cash equivalents are invested in banks domiciled in the U.S. and Europe, as well as in Israel. Generally, these cash equivalents may be redeemed upon demand. Short - term bank deposits are held in the aforementioned banks. The money market funds consist of institutional investors money market funds and are readily redeemable to cash, and the U.S. government bonds are also highly liquid. Derivative financial instruments are forward contracts entered into with major banks in Israel to hedge the Company’s foreign exchange rate risk. Accordingly, management believes that these bank deposits, money market funds, U.S. government bonds and derivative financial instruments have minimal credit risk. The Company’s accounts receivable are derived primarily from sales to Tier 1 suppliers to the automotive manufacturing industry located mainly in the U.S., Europe, and China. Concentration of credit risk with respect to accounts receivable is mitigated by credit limits, ongoing credit evaluation, and account monitoring procedures. Credit is granted based on an evaluation of a customer’s financial condition and, generally, collateral is not required. Trade accounts receivable are typically due from customers within 30 to 60 days . The Company performs ongoing credit evaluations of its customers and has not experienced any material losses in the periods presented. The Company recognizes an allowance for credit losses for any potential uncollectible amounts. The allowance is based on various factors, including historical experience, the age of the accounts receivable balances, credit quality of the customers, and other reasonable and supportable information. This allowance consists of an amount based on overall estimated exposure for the receivable portfolio and amounts identified for specific customers. Expected credit losses are recorded as general and administrative expenses in the Company’s consolidated statement of operations and comprehensive income (loss). As of December 27, 2025 and December 28, 2024, the credit loss allowance for trade accounts receivable was not material. For each of the years presented, the charge-offs and recoveries in relation to the credit losses were not material. 115 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Customer concentration risk The Company’s business, results of operations, and financial condition for the foreseeable future will likely continue to depend on sales to a relatively small number of customers. In the future, these customers may decide not to purchase the Company’s products, may purchase fewer products than in previous years, or may alter their purchasing patterns. Further, the amount of revenue attributable to any single customer or customer concentration generally may fluctuate in any given period. In addition, a decline in the production levels of one or more of the Company’s major customers, particularly with respect to vehicle models for which the Company is a significant supplier, could reduce revenue. The loss of one or more key customers, a reduction in sales to any key customer or the Company’s inability to attract new significant customers could negatively impact revenue and adversely affect the Company’s business, results of operations, and financial condition. See Note 12 Segment Information related to customers that accounted for more than 10% of the Company’s total revenue and more than 10% of the total accounts receivable balance for each of the years presented in these consolidated financial statements. Dependence on a single supplier or limited suppliers risk The Company purchases all its System on Chip (“EyeQ™ SoC”) from a single supplier. For certain materials, equipment, and services, we, and/or our suppliers and vendors, rely on a single or a limited number of direct and indirect suppliers and vendors. Any issues that occur and persist in connection with the manufacture, delivery, quality, or cost of the assembly and testing of inventory could adversely effect the Company’s business, results of operations and financial condition. See below regarding a shortage in EyeQ™ SoCs that the Company experienced during 2021 and 2022 and may experience in the future, including in ECUs for SuperVision™ and other components for our products. Supply chain risk During the fiscal years 2021 and 2022, the semiconductor industry experienced widespread shortages of substrates and other components and available foundry manufacturing capacity. During 2021 and 2022, STMicroelectronics, our sole supplier of EyeQ™ SoCs, was not able to meet our demand for EyeQ™ SoCs, causing a significant reduction in the Company’s inventory levels. Starting in late 2022 and early 2023, such supply disruptions, raw material shortages and manufacturing limitations abated and during 2023, we successfully increased levels of EyeQ™ SoC inventory on hand, mitigating the potential for future supply constraints to cause a shortfall of chips. However, in the event of a reoccurrence of supply chain constraints, and subject to the duration and severity thereof, we may be required to operate with minimal or no inventory of EyeQ™ SoCs or SuperVision ™ ECUs on hand. As a result, we are substantially reliant on timely shipments of EyeQ™ SoCs from STMicroelectronics and ECUs from Quanta Computer (or other suppliers) to fulfill customer orders and if such a shortfall of chips or ECUs were to occur, we may be unable to offset future supply constraints through the use of inventory on hand. Since our EyeQ™ SoC is the core of our ADAS and autonomous driving solutions, continued, acute shortages in the supply of sufficient EyeQ™ SoCs to meet our production needs would impair our ability to meet our customers’ requirements in a timely manner, and would affect our business, results of operations, and financial condition potentially in an adverse manner. New Accounting pronouncements Accounting pronouncements adopted in the period In December 2023, the FASB issued ASU 2023-09 Improvements to Income Tax Disclosures (“ASU 2023-09”). ASU 2023-09 improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. It also includes certain other amendments to improve the effectiveness of income tax disclosures. For public business entities, the ASU is effective for annual periods beginning after December 15, 2024. The Company implemented the new income tax disclosures retrospectively. The implementation of ASU 2023-09 affected disclosures only and had no impact on the Company’s financial condition or results of operations (See Note 8 Income Taxes ). 116 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Accounting Pronouncements effective in future periods In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosure (Subtopic 220-40): Disaggregation of Income Statement Expense (“ASU 2024-03”) and ASU 2025-01, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date (“ASU 2025-01”). ASU 2024-03 and ASU 2025-01 improves the disclosures about a public business entity’s expenses and provides more detailed information about the types of expenses in commonly presented expense captions. The amendments require that at each interim and annual reporting period an entity will, inter alia, disclose amounts of purchases of inventory, employee compensation, depreciation and amortization included in each relevant expense caption (such as cost of revenue, general and administrative, and research and development). ASU 2024-03 and ASU 2025-01 are both effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is evaluating the potential impact of ASU 2024-03 and ASU 2025-01 on its consolidated financial statement disclosures. In July 2025, the FASB issued Accounting Standards Update 2025-05, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets (“ASU 2025-05”). ASU 2025-05 provides a practical expedient that all entities can use when estimating expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606, Revenue from Contracts with Customers . Under this practical expedient, an entity is allowed to assume that the current conditions it has applied in determining credit loss allowances for current accounts receivable and current contract assets remain unchanged for the remaining life of those assets. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025, and interim reporting periods in those years. Entities that elect the practical expedient and, if applicable, make the accounting policy election are required to apply the amendments prospectively. ASU 2025-05 is not expected to have a material impact on the Company’s consolidated financial statements. In September 2025, the FASB issued Accounting Standards Update 2025-06, Intangibles-Goodwill and Other-Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”). ASU 2025-06 provides targeted improvements to the accounting for internal-use software costs by replacing the existing project-stage model with a principles-based approach to determine when capitalization of costs should begin. ASU 2025-06 is effective for all entities for annual reporting periods beginning after December 15, 2027 on a prospective basis, with early adoption permitted. The Company is currently evaluating the potential impact that ASU 2025-06 will have on its consolidated financial statements. In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”). ASU 2025-11 provides clarifications intended to improve the consistency and usability of interim disclosure requirements, including a comprehensive listing of required interim disclosures and a new disclosure principle for reporting material events occurring after the most recent annual period. The amendments do not change the underlying objectives of interim reporting but are designed to enhance clarity in application. The guidance is effective for fiscal years beginning after December 15, 2027, including interim periods within those fiscal years. NOTE 3 - OTHER FINANCIAL STATEMENT DETAILS Inventories ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ December 27, December 28, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 Raw materials $ 21 $ 35 Work in process ​ — ​ 1 Finished goods ​ 306 ​ 379 Total inventories $ 327 $ 415 ​ Inventory write-downs and write-offs totaled $ 2 million, $ 3 million and $ 2 million for the years ended December 27, 2025, December 28, 2024, and December 30, 2023, respectively. 117 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Property and equipment, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ December 27, December 28, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 Computers, electronic equipment and software $ 245 $ 197 Vehicles ​ 10 ​ ​ 14 Office furniture and equipment ​ 11 ​ ​ 10 Buildings ​ ​ 322 ​ ​ 321 Leasehold improvements ​ 56 ​ ​ 44 Total property and equipment, gross $ 644 ​ $ 586 Less: accumulated depreciation ​ ( 171 ) ​ ​ ( 128 ) Total property and equipment, net $ 473 $ 458 ​ Depreciation expenses totaled $ 74 million, $ 62 million, and $ 39 million for the years ended December 27, 2025, December 28, 2024, and December 30, 2023, respectively. During 2025 and 2024, the Company derecognized the cost and accumulated depreciation of fully depreciated assets in the amount of $ 32 million and $ 30 million, respectively. Substantially all of the Company’s property and equipment were located in Israel as of December 27, 2025 and December 28, 2024. Royalty bearing agreements The Company has entered into a number of license and technology transfer agreements with third parties. The agreements allow the Company to utilize and leverage the third parties’ technology in order to integrate it into the Company’s products. In consideration thereof, the Company is obligated to pay royalties to each of the third parties, for each unit of the applicable integrated product sold to other parties. As a result, during the years ended December 27, 2025, December 28, 2024, and December 30, 2023, the Company recorded expenses of approximately $ 5 million, $ 7 million, and $ 9 million, respectively. These expenses were classified as a component of cost of revenue. NOTE 4 - EMPLOYEE BENEFITS In Israel Severance Israeli labor laws generally require severance payments upon dismissal of an employee or upon termination of employment in certain other circumstances. The following plans relate to the Company’s employees in Israel. Severance pay liability with respect to Israeli employees is calculated pursuant to Israeli Severance Pay Law based on the most recent salary of the employees, multiplied by the number of years of employment as of the period-end date. The Company records an expense for the increase in its severance liability, net of income (losses) from the related severance pay funds. The liabilities are presented on an undiscounted basis and included on the consolidated balance sheets as a long-term employee benefit. Severance pay liabilities as of December 27, 2025 and December 28, 2024 were $ 78 million and $ 62 million, respectively. The Company’s liability for all of its Israeli employees is covered by monthly deposits with severance pay funds. The value of the deposited funds is based on the cash surrender value of these policies and includes gains (or losses) accumulated through the balance sheet date. The deposited funds may be withdrawn only upon the fulfillment of the obligations pursuant to Israeli Severance Pay Law or labor agreements. Severance pay funds, which are included in other long-term assets, were $ 69 million and $ 52 million as of December 27, 2025 and December 28, 2024, respectively. 118 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS The majority of the Company’s liability for severance pay is covered by the provisions of Section 14 of the Israeli Severance Pay Law (“Section 14”). Under Section 14, employees are entitled to monthly deposits, at a rate of 8.33 % of their monthly salary, contributed by the Company on their behalf to their insurance funds. Payments by the Company in accordance with Section 14 release the Company from any future severance payments in respect of those employees. As a result, the Company does not recognize any liability for severance pay due to these employees under Section 14 and the related deposits are not recorded as assets on the consolidated balance sheets. Non-Israeli Defined Contribution Plans Most of the Company’s non-Israeli subsidiaries provide defined contribution plans for the benefit of their employees. The plans primarily provide for Company matching contributions based upon a percentage of the employees’ contributions. The Company’s contributions for each of the years presented under such plans were not material. NOTE 5 - LEASES The Company’s operating leases consist of offices and vehicles and the lease term varies between 3 - 8 years . Some of the Company’s leases include options to extend the lease term for periods of up to five years each. For purposes of calculating lease liabilities, lease terms include options to extend or terminate the lease when it is reasonably certain that the Company will exercise such options. Lease expenses for operating lease payments are recognized on a straight-line basis over the lease term. Certain operating leases provide for annual increases to lease payments based on an index. The Company calculates the present value of future lease payments based on the index or rate at the lease commencement date. Differences in lease payments resulting from changes in an index or rate are recognized are expensed as incurred and are not material for all periods presented. The lease agreements generally do not contain any residual value guarantees or restrictive covenants. Operating lease expense for the years ended December 27, 2025, December 28, 2024, and December 30, 2023 were $ 18 million, $ 16 million, and $ 19 million, respectively. The Company does not have any finance leases. The balances for the operating leases, which are presented on the consolidated balance sheets in other long-term assets, other current liabilities and long-term liabilities, were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ December 27, ​ ​ ​ December 28, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 Operating lease right-of-use assets ​ $ 50 ​ ​ ​ $ 47 Operating lease liabilities: ​ ​ ​ ​ Current portion of lease liabilities ​ 18 ​ 13 Long-term lease liabilities ​ 44 ​ 37 Total operating lease liabilities $ 62 ​ $ 50 ​ As of December 27, 2025 and December 28, 2024, the weighted average remaining lease term was 4.06 and 4.31 years, respectively, and the weighted average discount rate was 5.01 % and 4.94 %, respectively. Supplemental information related to operating leases was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 27, ​ December 28, ​ December 30, U.S. dollars in millions ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Operating cash outflows from operating leases ​ $ 18 ​ $ 16 ​ $ 16 Right-of-use assets recognized in exchange for lease obligations ​ $ 19 ​ $ 13 ​ $ 8 ​ 119 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Maturities of operating lease liabilities were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ December 27, U.S. Dollars in millions ​ 2025 2026 ​ $ 20 2027 ​ 17 2028 ​ 14 2029 ​ 9 2030 and thereafter ​ 8 Total operating lease payments ​ 68 Imputed interest ​ ( 6 ) Present value of lease liabilities ​ $ 62 ​ During 2017, the Company obtained the right to use land in Jerusalem from the Israeli government for the construction of a new research and development and innovation center that now hosts the Company’s headquarters (the new Jerusalem Campus). This land lease was fully prepaid and no lease liability was recorded. This operating lease right of use asset is carried at cost and amortized using the straight-line method. This operating lease right of use asset, net of amortization, was $ 11 million and $ 11 million as of December 27, 2025 and December 28, 2024, respectively, and is included in other long-term assets on the consolidated balance sheets. NOTE 6 - EQUITY 1. Common Stock and Voting Rights We have two classes of authorized common stock: Class A common stock, which is listed on Nasdaq under the symbol “MBLY”, and Class B common stock which is not listed or traded on any stock exchange and is held by Intel. Both classes of common stock have a par value of $ 0.01 per share. The rights of the holders of our Class A common stock and Class B common stock are identical, except with respect to voting, transfer, and conversion rights. Each share of our Class A common stock is entitled to one vote. Each share of our Class B common stock is entitled to ten votes and is convertible at any time into one share of our Class A common stock, subject to certain conditions. On July 11, 2025, we completed the Secondary Offering pursuant to which 57,500,000 shares of Class B common stock held by Intel were converted into an equal number of shares of Class A common stock. In connection with and conditional upon the closing of the Secondary Offering, the Company purchased from Intel 6,231,985 shares of Class A common stock (which shares were received upon the conversion of 6,231,985 shares of Class B common stock into Class A common stock). In addition to and conditional upon the closing of the Secondary Offering, Intel voluntarily converted pursuant to the Company’s Amended and Restated Certificate of Incorporation an additional 50,000,000 shares of Class B common stock to Class A common stock. For further detail, refer to Note 1 General . Intel continues to directly, or indirectly, hold all of the Class B common stock of Mobileye as well as 50,000,000 shares of Class A common stock, which together represents approximately 79.5 % of our outstanding common stock and 97.3 % of the voting power of our common stock as of December 27, 2025. 2. Share-based compensation plans Mobileye Plan In June 2025, the stockholders of the Company approved the Amended and Restated Mobileye Global Inc. 2022 Equity Incentive Plan. Equity awards under the 2022 Plan are granted for Class A shares and vest upon the satisfaction of a service-based vesting condition, mostly over a service period of three years . The RSUs granted during 2025, 2024 and 2023 also include 0.9 million, 0.5 million and 0.4 million RSUs granted to the Company’s Chief Executive Officer, with a total value of $ 15 million, $ 14 million and $ 14 million, respectively, which will vest over a service period of up to five years . 120 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS With respect to Israeli employees, the 2022 Plan is designed to grant awards pursuant to the provision of Section 102 of the Israeli Income Tax Ordinance. In accordance with the capital gains treatment elected by the Company, the Company is not allowed to deduct the amounts credited to employees for tax purposes. This includes amounts recorded as salary benefits in the Company’s consolidated financial statements, in respect of equity granted to employees under the 2022 Plan, with the exception of the benefit component, if any, on the grant date. Restricted Stock Units The RSUs activity for the years ended December 27, 2025, December 28, 2024 and December 30, 2023 for RSUs granted to Company’s employees under the 2022 Plan was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted average grant ​ ​ Number of RSUs ​ date fair value per share ​ ​ ​ ​ In thousands ​ ​ ​ U.S. dollars Outstanding as of December 31, 2022 ​ 12,564 ​ $ 21 Granted ​ 6,782 ​ ​ 40 Vested ​ ( 4,240 ) ​ ​ 21 Forfeited ( 328 ) ​ 26 Outstanding as of December 30, 2023 14,778 ​ ​ 30 Granted ​ 13,542 ​ ​ 25 Vested ​ ( 5,574 ) ​ ​ 29 Forfeited ​ ( 1,293 ) ​ ​ 30 Outstanding as of December 28, 2024 ​ 21,453 ​ ​ 27 Granted ​ 22,985 ​ ​ 16 Vested ​ ( 9,254 ) ​ ​ 27 Forfeited ​ ( 2,331 ) ​ ​ 23 Outstanding as of December 27, 2025 ​ 32,853 ​ $ 20 ​ As of December 27, 2025, the unrecognized compensation cost related to all unvested RSUs granted under the Company’s 2022 Plan, was $ 441 million, which is expected to be recognized as an expense over a weighted-average period of 2.14 years. Intel Plan Prior to the Mobileye IPO, since 2017, employees of the Company had been incentivized and rewarded through the grant of Intel equity awards under Intel’s Equity Incentive Plan which contains only a service condition. The equity awards granted generally vest over the course of three years from the grant date. The activity of the Company’s employees for Intel’s options and RSUs was immaterial as of December 28, 2024 and December 27, 2025. Share-based compensation expense summary (for both Mobileye and Intel Plans) Expenses recognized Share-based compensation expenses included in the consolidated statements of operations and comprehensive income (loss) were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ ​ December 27, ​ ​ ​ December 28, ​ ​ ​ December 30, U.S. dollars in millions ​ 2025 ​ 2024 ​ 2023 Cost of revenue ​ $ 2 ​ $ 2 ​ $ 2 Research and development, net ​ ​ 239 ​ 244 ​ 212 Sales and marketing ​ 6 ​ 6 ​ 7 General and administrative ​ ​ 30 ​ ​ 27 ​ ​ 31 Total share-based compensation ​ $ 277 ​ $ 279 ​ $ 252 ​ ​ 121 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NOTE 7 - EARNINGS (LOSS) PER SHARE As of December 27, 2025, we have 597,768,015 Class B shares, all held by Intel, and 216,980,847 Class A shares out of which 50,000,000 shares are held by Intel, both of which are utilized for the calculation of basic and diluted EPS. The outstanding Class A shares also include shares issued upon vesting of outstanding RSUs, see Note 6 Equity . For the years ended December 27, 2025, December 28, 2024 and December 30, 2023, the computation of diluted earnings (loss) per share attributable to common stockholders does not include 27.5 million, 18.1 million and 5.9 million potential common shares, respectively, related to restricted stock units granted under the 2022 Plan to the Company’s employees, as the effect of their inclusion would have been anti-dilutive. The following table summarizes the calculation of basic and diluted earnings (loss) per share for the periods presented: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 27, ​ December 28, ​ December 30, In millions, except per share amounts ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Numerator: ​ ​ ​ ​ ​ ​ Net income (loss) $ ( 392 ) $ ( 3,090 ) $ ( 27 ) Denominator: ​ ​ ​ ​ ​ ​ Weighted average common shares - basic and diluted ​ 813 ​ 809 ​ 805 Earnings (loss) per share: ​ ​ ​ ​ ​ ​ ​ ​ ​ Basic and diluted ​ $ ( 0.48 ) ​ $ ( 3.82 ) ​ $ ( 0.03 ) ​ NOTE 8 - INCOME TAXES Income (Loss) before income taxes included in the consolidated statements of operations and comprehensive income (loss) Income (loss) before income taxes for the years ended December 27, 2025, December 28, 2024, and December 30, 2023 was comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ ​ December 27, ​ ​ ​ December 28, ​ ​ ​ December 30, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Income (loss) before taxes: ​ ​ ​ ​ ​ ​ U.S $ ( 11 ) ​ $ ( 11 ) ​ $ ( 13 ) Non-U.S ​ ( 366 ) ​ ​ ( 3,152 ) ​ ​ 29 Total income (loss) before income taxes $ ( 377 ) ​ $ ( 3,163 ) ​ $ 16 ​ 122 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Benefit (provision) for income taxes included in the consolidated statements of operations and comprehensive income (loss) Benefit (provision) for income taxes for the years ended December 27, 2025, December 28, 2024, and December 30, 2023 was comprised of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 27, ​ ​ ​ December 28, ​ ​ ​ December 30, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Current income taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ State ​ $ — ​ $ — ​ $ — Federal ​ — ​ ​ — ​ ​ — Foreign ​ ( 30 ) ​ ( 28 ) ​ ( 58 ) Total current benefit (provision) for income taxes ​ ​ ( 30 ) ​ ​ ( 28 ) ​ ​ ( 58 ) Deferred income taxes: ​ ​ ​ ​ ​ ​ ​ ​ ​ State ​ ​ — ​ ​ 1 ​ ​ — Federal ​ ​ ( 28 ) ​ ​ 53 ​ ​ ( 28 ) Foreign ​ ​ 43 ​ ​ 47 ​ ​ 43 Total deferred benefit (provision) for income taxes ​ ​ 15 ​ ​ 101 ​ ​ 15 Total benefit (provision) for income taxes $ ( 15 ) ​ $ 73 ​ $ ( 43 ) ​ Effective income tax rate reconciliation The difference between the tax provision at the statutory federal income tax rate and the benefit (provision) for income taxes in dollars and as a percentage of income (loss) before income taxes (effective tax rate) for each year is as follows. The disclosure reflects the implementation of ASU 2023-09 retrospectively. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ ​ December 27, ​ December 28, ​ December 30, ​ ​ ​ 2025 ​ 2024 ​ 2023 ​ ​ ​ ​ ​ $ ​ ​ ​ % ​ ​ ​ $ ​ ​ ​ % ​ ​ ​ $ ​ ​ ​ % ​ Income (loss) before income taxes ​ $ ( 377 ) ​ — ​ $ ( 3,163 ) ​ — ​ $ 16 ​ — ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Federal Statutory Tax Rate ​ ​ 79 ​ 21.0 % ​ 664 ​ 21.0 % ​ ( 3 ) ​ 21.0 % Foreign Tax Effects ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Israel ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign Rate Differential ​ ​ 7 ​ 1.9 % ​ 63 ​ 2.0 % ​ ( 1 ) ​ 2.7 % Technology Incentives ​ ​ ( 58 ) ​ ( 15.4 ) % ​ ( 96 ) ​ ( 3.0 ) % ​ 18 ​ ( 107.2 ) % Changes in Valuation Allowances ​ ​ ( 7 ) ​ ( 1.9 ) % ​ ( 6 ) ​ ( 0.3 ) % ​ ( 16 ) ​ 98.2 % Goodwill impairment ​ ​ — ​ — % ​ ( 596 ) ​ ( 18.8 ) % ​ — ​ — % Other ​ ​ 2 ​ 0.6 % ​ 1 ​ — % ​ ( 2 ) ​ 14.9 % Other Foreign Jurisdictions ​ ​ — ​ — % ​ ( 1 ) ​ — % ​ 1 ​ ( 3.5 ) % Effect of Cross-Border Tax Laws ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. Branch Taxation of Foreign Operations ​ ​ ( 87 ) ​ ( 23.1 ) % ​ 474 ​ 15.0 % ​ ( 1 ) ​ 9.2 % GILTI ​ ​ ( 1 ) ​ ( 0.3 ) % ​ — ​ — % ​ ( 1 ) ​ 3.0 % Changes in valuation allowances ​ ​ 59 ​ 15.7 % ​ ( 422 ) ​ ( 13.3 ) % ​ ( 30 ) ​ 179.7 % Non-taxable or Non-deductible items ​ ​ ( 1 ) ​ ( 0.3 ) % ​ ( 2 ) ​ ( 0.1 ) % ​ ( 1 ) ​ 8.2 % Changes in Unrecognized Tax Benefits ​ ​ ( 7 ) ​ ( 1.9 ) % ​ ( 6 ) ​ ( 0.2 ) % ​ ( 7 ) ​ 42.1 % Other Adjustments ​ ​ ( 1 ) ​ ( 0.3 ) % ​ — ​ — % ​ — ​ 0.3 % ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Benefit (provision) for income taxes and effective tax rate ​ $ ( 15 ) ​ ( 4.0 ) % $ 73 ​ 2.3 % $ ( 43 ) ​ 268.6 % ​ 123 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Income taxes paid, net of refunds received (Cash Taxes), for the years ended December 27, 2025, December 28, 2024, and December 30, 2023 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 27, ​ December 28, ​ December 30, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Federal ​ $ — ​ $ — ​ $ — State ​ ​ — ​ ​ — ​ ​ — Foreign ​ ​ — ​ ​ — ​ ​ — Israel ​ ​ 10 ​ ​ 19 ​ ​ 61 Other Foreign Jurisdictions ​ ​ 1 ​ ​ 2 ​ ​ 3 Total Cash Taxes ​ $ 11 ​ $ 21 ​ $ 64 ​ In the fiscal years ended 2025, 2024 and 2023, certain Israeli operations are taxable in the U.S. as branch activities due to restructuring activities prior to the Mobileye IPO. As a result, these operations are taxed both in the U.S. and locally in Israel. For U.S. tax purposes, due to cumulative losses, deferred tax assets have not been benefited as a result of the valuation allowance which results in a residual tax provision associated with a deferred tax liability recorded for goodwill. Such deferred tax liability was reduced in 2024 due to the goodwill impairment recorded for the Mobileye reporting unit, resulting in a tax benefit recorded in 2024. The decrease in the effective tax rate for the year ended December 27, 2025, as compared to the year ended December 28, 2024, is mainly due to the deferred tax effects of goodwill impairment to the Mobileye reporting unit recorded in 2024. In Israel, the Company benefits from a reduced tax rate under the Special Preferred Technological Enterprise status under the Law for the Encouragement of Capital Investments, 1959, or the Investment Law. Under the Investment Law, income derived by Preferred Companies from ‘Special Preferred Technological Enterprises’ (as defined in the 2017 Amendment), would be subject to 6 % tax rate on income deriving from intellectual property, subject to a number of conditions being fulfilled, including a minimal amount or ratio of annual research and development expenditures and research and development employees, as well as having at least 25 % of annual income derived from exports. Special Preferred Technological Enterprise is defined as an enterprise which meets the aforementioned conditions and for which total consolidated revenue of its parent company and all subsidiaries are more than ILS 10 billion. Deferred income taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and increase in unbenefited U.S. deferred tax assets subject to a valuation allowance. Due to the fact that certain Israeli operations were taxable in the U.S. as branch activities, the Company recognized in the years ended December 27, 2025 and December 28, 2024 the tax effects of temporary differences between the carrying amount of assets and 124 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS liabilities for financial reporting purposes and the amounts used for U.S. income tax purposes which resulted in a net deferred tax liability after evaluation of deferred tax assets for realizability. Significant components of the Company’s deferred tax assets and deferred tax liabilities were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ December 27, ​ ​ ​ December 28, U.S. dollars in millions ​ 2025 ​ 2024 Deferred tax assets: ​ ​ ​ ​ Share-based compensation $ 90 ​ $ 119 Provisions for employee benefits ​ 28 ​ ​ 12 Net operating losses carryforward ​ 96 ​ ​ 147 Research and development expenses ​ 795 ​ ​ 631 Operating lease liabilities ​ 15 ​ ​ 11 Intangible assets ​ 229 ​ ​ 202 Other ​ 2 ​ ​ 11 Gross deferred tax assets ​ 1,255 ​ ​ 1,133 Valuation allowance ​ ( 955 ) ​ ​ ( 1,007 ) Total deferred tax assets ​ 300 ​ ​ 126 Deferred tax liabilities: ​ ​ ​ ​ ​ Intangible assets ​ ( 71 ) ​ ​ ( 99 ) Unrealized gains on derivatives ​ ​ ( 5 ) ​ ​ ( 1 ) Goodwill ​ ​ ( 232 ) ​ ​ ( 63 ) Right of use assets ​ ​ ( 12 ) ​ ​ ( 10 ) Other ​ ​ ( 12 ) ​ ​ — Total deferred tax liabilities ​ ​ ( 332 ) ​ ​ ( 173 ) Net deferred tax liabilities $ ( 32 ) ​ $ ( 47 ) ​ Changes in valuation allowance for deferred tax assets were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 27, ​ ​ ​ December 28, ​ ​ ​ December 30, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Valuation allowance at beginning of year $ 1,007 ​ $ 579 ​ $ 533 Change in valuation allowance ​ ( 52 ) ​ 428 ​ 46 Valuation allowance at end of year $ 955 ​ $ 1,007 ​ $ 579 ​ Realization of deferred tax assets is based on the Company’s judgment and various factors including reversal of deferred tax liabilities, the ability to generate future taxable income in jurisdictions where such assets have arisen, and potential tax planning strategies. A valuation allowance is recorded in order to reduce the deferred tax assets to the amount expected to be realized in the future. The valuation allowance for the years presented are primarily related to U.S. branch deferred tax assets not currently expected to be realized given that the Company has sustained recent losses. Prior to the Tax Deconsolidation, the income tax benefit (provision) included in these consolidated financial statements had been calculated using the separate return method, as if the Company had filed its own tax returns. Following the Tax Deconsolidation, Mobileye is a standalone taxpayer from a U.S. federal and applicable state income tax perspective for the period starting July 12, 2025. As such, the Company now calculates and report its U.S. federal and applicable state income tax liabilities as a standalone taxpayer. Additionally, the Tax Deconsolidation resulted in an adjustment to the Company’s deferred income tax assets and liabilities, primarily with respect to its net operating losses, reflecting attributes that the Company will not retain as a result of its status as a standalone taxpayer. Most of the net operating losses were utilized by the Company’s Parent on its historic income tax returns. These deferred adjustments are offset with a change in deferred tax asset valuation allowance. As of December 27, 2025, the Company has U.S. net operating loss carryforwards of $ 192 million which have an indefinite carry-forward period. $ 141 million of these U.S. net operating loss carryforwards are subject to separate return limitation year rules as they were generated before the Company joined its Parent’s consolidated income tax return on July 17, 2021. These net operating loss 125 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS carryforwards have been reflected in these consolidated financial statements and the Company will recognize a benefit for these net operating losses when determined to be realizable. As of December 27, 2025, the Company has removed all the historical separate return method hypothetical net operating loss carryforwards that were generated after joining its Parent’s consolidated income tax filing group. These net operating losses generated by the Company have been fully utilized as part of the Parent consolidated income tax return filings in the periods prior to the Tax Deconsolidation. The Company has a non-U.S. net operating loss carryforward of $ 242 million as of December 27, 2025. This net operating loss carryforward amount relates primarily to operations in Israel and has an indefinite carry-forward period. The Company intends to indefinitely reinvest undistributed foreign earnings into foreign operations and expects future U.S. cash generated to be sufficient to meet future U.S. cash needs. Therefore, the Company has not provided for deferred income taxes on undistributed foreign earnings. In making this determination, the Company evaluates both near-term and long-term fiscal needs of its U.S. domestic operations and its foreign subsidiaries. The estimation of the unrecognized deferred tax liability on undistributed foreign earnings is not practicable for the consolidated balance sheets dates presented. Uncertain tax positions A reconciliation of the beginning and ending amount of unrecognized tax benefits related to uncertain tax positions was as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ December 27, ​ ​ ​ December 28, ​ ​ ​ December 30, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 Balance at the beginning of the year ​ $ 13 ​ $ 7 ​ $ — Changes in balances related to tax positions taken during current period ​ ​ 7 ​ ​ 6 ​ ​ 7 Foreign currency adjustments ​ 2 ​ ​ — ​ ​ — Balance at the end of the year $ 22 ​ $ 13 ​ $ 7 ​ If the remaining balance of unrecognized tax benefits were recognized in a future period, it would result in a tax benefit of $ 22 million as of December 27, 2025. The balance of uncertain tax positions, which also includes accrued penalties and interest, is included in other long-term liabilities on the consolidated balance sheets. The Company files income tax returns in the U.S., Israel, and in other certain foreign jurisdictions. The Company is no longer subject to U.S. and Israeli tax examinations for year prior to 2021 and 2020, respectively. NOTE 9 - RELATED PARTY TRANSACTIONS The Company has entered into a series of related party arrangements with Intel. The arrangements were as follows: Stock Compensation Recharge Agreement The Company entered into a stock compensation recharge agreement with Intel, which requires the Company to reimburse Intel for certain amounts, net of any related withholding tax, relating to the value of share-based compensation provided to the Company’s employees for RSUs or stock options exercisable in Intel stock. The reimbursement amounts recorded as an adjustment to additional paid-in capital in the consolidated statement of changes in equity were $ 9 million, $ 62 million and $ 100 million for the years ended December 27, 2025, December 28, 2024 and December 30, 2023, respectively. Lease agreements Under lease agreements with Intel, the Company leases office space in Intel’s buildings. The costs are included in the consolidated statements of operations and comprehensive income (loss) primarily on a specific and direct attribution basis, as described in Note 2 Significant Accounting Policies . The leasing costs for the years ended December 27, 2025, December 28, 2024 and December 30, 2023 were $ 2.6 million, $ 2.8 million and $ 4.4 million, respectively. 126 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Other services to a related party The Company reimbursed its Chief Executive Officer for reasonable travel related expenses incurred while conducting business on behalf of the Company as well as paid for certain security related costs. For the years ended December 27, 2025, December 28, 2024, and December 30, 2023, travel-related reimbursements and security-related costs were $ 2.0 million, $ 2.0 million and $ 1.8 million, respectively. Administrative Services Agreement Under the Administrative Services Agreement, Intel provides the Company with administrative and other services. The Company pays fees to Intel for the services rendered based on pricing per service agreed between the Company and Intel. The initial term of the Administrative Services Agreement expires two years from the completion of the Mobileye IPO and extends automatically for successive three-month terms unless one of the parties elects not to renew. We have the right to terminate any of the services provided by Intel under the Administrative Services Agreement at any time upon thirty days prior written notice of termination to Intel, or if Intel fails to perform any of its material obligations under the Administrative Services Agreement and such failure continues for at least thirty days after receipt by Intel of written notice of such failure from Mobileye. The costs incurred under this agreement for the years ended December 27, 2025, December 28, 2024 and December 30, 2023 were $ 2.2 million, $ 3.0 million and $ 3.5 million, respectively. Technology and Services Agreement The Technology and Services Agreement provides a framework for the collaboration on technology projects and services between the Company and Intel (“Technology Projects”), and sets out the licenses granted by each party to its respective technology for the conduct of the Technology Projects, provisions relating to the ownership of certain existing technology, the allocation of rights in any new technology created in the course of the Technology Projects, and certain provisions applicable to the development of a certain radar product of the Company. The Technology and Services Agreement does not apply to projects for the development and manufacture of a lidar sensor system for automobiles. Pursuant to the Technology and Services Agreement, the Company and Intel agree to statements of work with additional terms for Technology Projects. The Technology and Services Agreement automatically renews for one-year renewal periods, unless the agreement is terminated for a party’s material breach, a party’s bankruptcy or insolvency, or advance notice of non-renewal is given. The amount incurred under this agreement for the years ended December 27, 2025, December 28, 2024 and December 30, 2023 were $ 2.3 million, $ 4.4 million and $ 5.0 million, respectively. Tax Sharing Agreement The Tax Sharing Agreement establishes the respective rights, responsibilities and obligations of the Company and Intel after the completion of the Mobileye IPO with respect to tax matters, including the amount of cash the Company will pay to Intel for its share of the tax liability owed on the consolidated filings in which the Company or any of the Company’s subsidiaries are included, including audit or other tax proceedings. According to the terms of the Tax Sharing Agreement, the Company and Intel will calculate and agree to estimated amounts owed quarterly but final amounts will also be calculated and paid upon consolidated tax return filings. Amounts payable under the Tax Sharing Agreement will be recorded in the same manner as other contractual obligations entered into by the Company. On August 14, 2024, Mobileye and Intel entered into an Amended and Restated Tax Sharing Agreement, which incorporated certain clarifying amendments into the original Tax Sharing Agreement. As a result of the Tax Deconsolidation, starting July 12, 2025, the computation of cash payable between the Company and Intel, under the Amended and Restated Tax Sharing Agreement, is no longer applicable with respect to U.S. federal and applicable state income taxes. However, other obligations of the parties under the Amended and Restated Tax Sharing Agreement remain in effect. As of December 27, 2025 and December 28, 2024, the related party payable to Intel, pursuant to the Tax Sharing Agreement, were zero and $ 3 million, respectively. 127 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Intel sublicense In June 2024, Intel and its affiliates, including Mobileye, were granted a sublicense to certain patents relating to network-on-chip and other technologies (the “Sublicense”). In connection with Mobileye’s use of the Sublicense, Intel and Mobileye agreed that Mobileye would pay to Intel $ 0.3 million as Mobileye’s allocation of the consideration paid by Intel for the Sublicense. Such amount was paid in 2024. Share Repurchase In connection with and conditional upon the closing of the Secondary Offering, on July 11, 2025 the Company purchased from Intel 6,231,985 shares of Class A common stock at a price of $ 16.04625 per share. The aggregate consideration paid by the Company for the Share Repurchase was $ 100 million and is subject to a nondeductible excise tax of 1 % pursuant to the Inflation Reduction Act of 2022. Upon closing of the Share Repurchase, the Company cancelled and retired the 6,231,985 shares of Class A common stock acquired pursuant to the Share Repurchase. The excess of the repurchase price over par value was charged to additional paid in capital. For further detail refer to Note 1 General . Acquisition of Mentee Robotics On February 3, 2026, the Company and Mobileye Vision Technologies Ltd. (a wholly-owned indirect subsidiary of the Company) acquired 100 % of the issued and outstanding stock of Mentee Robotics Ltd., a privately held Israeli company focused on humanoid robotics (“Mentee Robotics”, and such transaction, the “Acquisition”), pursuant to a share purchase agreement dated as of January 5, 2026 (the “Share Purchase Agreement”), by and among the Company, Mobileye Vision Technologies Ltd., Mentee Robotics Ltd., the shareholders of Mentee Robotics Ltd., and Shareholder Representative Services LLC, as the exclusive representative of the Mentee Robotics shareholders. Prof. Amnon Shashua, President and CEO of the Company, is the Chairman, Co-Founder and a significant shareholder of Mentee Robotics, and Prof. Shai Shalev-Shwartz, Chief Technology Officer of the Company, is Co-Founder and a significant shareholder of Mentee Robotics. In addition, Prof. Amnon Shashua’s son and son-in-law, are both employees of Mentee Robotics, and received consideration for their vested and unvested options pursuant to the terms of the Share Purchase Agreement. The Acquisition was approved by the Company’s Board of Directors (the “Board”), acting on the recommendation of a strategic transaction committee consisting of four disinterested directors ( two of whom are independent). The Audit Committee of the Board also approved the Acquisition pursuant to the Company’s Related Persons Transaction Policy. For further detail, refer to Note 15 Subsequent Events . ​ NOTE 10 - GOODWILL The following table presents the carrying amount of goodwill by segment as of December 27, 2025, December 28, 2024. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. dollars in millions ​ ​ ​ Mobileye ​ ​ ​ Other ​ ​ ​ Total December 30, 2023 ​ $ 10,784 ​ $ 111 ​ $ 10,895 Impairment ​ ​ ( 2,695 ) ​ ​ — ​ ​ ( 2,695 ) December 28, 2024 ​ $ 8,089 ​ $ 111 ​ $ 8,200 December 27, 2025 ​ $ 8,089 ​ $ 111 ​ $ 8,200 ​ As of December 27, 2025 and December 28, 2024 there were $ 2,695 million accumulated goodwill impairment losses. ​ 2024 Goodwill Impairment Test During the third quarter of 2024, the Company performed an interim quantitative goodwill impairment analysis for the “Mobileye” reporting unit, due to a then-recent decline in the price of the Company’s Class A common stock, and corresponding market capitalization, as well as macroeconomic and industry factors. The quantitative assessment was performed by measuring the reporting unit’s fair value (which substantially constitutes the entire value of the Company) using the income approach, based on the expected present value of estimated future cash flows. The fair value measurement is categorized as Level 3 within the fair value hierarchy due to the use of unobservable inputs such as financial projections, terminal growth rate, and discount rate. The results of the impairment analysis indicated that the carrying value of 128 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS the Mobileye reporting unit was in excess of its fair value. Therefore, the Company recorded a non-cash impairment loss of $ 2,695 million, under “goodwill impairment” in the Consolidated Statements of Operations and Comprehensive Income (Loss). During the fourth quarter of 2024, we completed our annual impairment assessment. Based on the assessment, the fair value of the “Mobileye” reporting unit exceeded its book value. We also performed a detailed quantitative analysis for the “Other” reporting unit which showed that no impairment was required. Fair value for the “Other” reporting unit was estimated using the expected present value of future cash flows and is categorized as Level 3 within the fair value hierarchy due to the use of unobservable inputs. 2025 Goodwill Impairment Test During the fourth quarter of 2025, we completed our annual impairment assessment. For the “Mobileye” reporting unit the assessment was performed using a quantitative test. The quantitative impairment test estimated the fair value of the reporting unit using an income approach. Fair value was estimated using the expected present value of future cash flows and was categorized as Level 3 within the fair value hierarchy due to the use of unobservable inputs such as financial projections, terminal growth rate, and discount rate. The results of the impairment analysis indicated that the fair value of the Mobileye reporting unit was in excess of its carrying value. Therefore, no impairment was recorded. Due to the equity of the Company being above the market capitalization of the Company as of December 27, 2025, a further sustained decline in our share price and market capitalization may require further testing of our Mobileye reporting unit, which may result in an impairment. For the “Other” reporting unit, our annual goodwill impairment assessment was performed using a qualitative assessment and concluded that the fair value of the “Other” reporting unit substantially exceeds its book value. NOTE 11 - IDENTIFIED INTANGIBLE ASSETS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ ​ ​ December 27, 2025 ​ December 28, 2024 ​ ​ ​ ​ Gross ​ ​ ​ Accumulated ​ ​ ​ ​ ​ ​ ​ Gross ​ ​ ​ Accumulated ​ ​ ​ ​ U.S. dollars in millions ​ ​ ​ Assets ​ ​ ​ Amortization ​ ​ ​ Net ​ ​ ​ Assets ​ ​ ​ Amortization ​ ​ ​ Net Developed technology ​ ​ ​ $ 3,705 ​ $ 2,761 ​ $ 944 ​ $ 3,705 ​ $ 2,384 ​ $ 1,321 Customer relationships & brands ​ ​ 777 ​ ​ 555 ​ ​ 222 ​ ​ 786 ​ ​ 498 ​ ​ 288 Total ​ $ 4,482 ​ $ 3,316 ​ $ 1,166 ​ $ 4,491 ​ $ 2,882 ​ $ 1,609 ​ Amortization expenses recorded for developed technology and customer relationships and brands were recorded in cost of revenue and sales and marketing, respectively, in the consolidated statements of operations and comprehensive income (loss) for each year presented. The following table presents the amortization expenses recorded for these identified intangible assets and their weighted average useful lives: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Weighted Average U.S. dollars in millions ​ ​ ​ December 27, 2025 ​ ​ ​ December 28, 2024 ​ ​ ​ December 30, 2023 ​ ​ ​ Useful Life Developed technology $ 377 ​ $ 376 ​ $ 406 10 Customer relationships & brands ​ 66 ​ ​ 68 ​ ​ 68 12 Total amortization expenses $ 443 ​ $ 444 ​ $ 474 ​ ​ During the year ended December 27, 2025, the Company derecognized the cost and accumulated depreciation of fully depreciated intangible assets in the amount of $ 9 million. 129 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS During the third quarter of 2024, we performed an impairment assessment of intangible assets and concluded that the sum of the expected future undiscounted cash flows expected to be generated by the intangible assets is substantially above their carrying amount and therefore no impairment was identified. The Company did no t record any impairment of intangible assets for any of the periods presented. The Company expects future amortization expenses for the next five years and thereafter to be as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. dollars in millions ​ ​ ​ 2026 ​ ​ ​ 2027 ​ ​ ​ 2028 ​ ​ ​ 2029 ​ ​ ​ 2030 ​ ​ ​ Thereafter ​ ​ ​ Total Future amortization expenses $ 333 $ 179 $ 176 $ 131 ​ $ 97 $ 250 $ 1,166 ​ ​ NOTE 12 - SEGMENT INFORMATION An operating segment is defined as a component of an enterprise for which discrete financial information is available and is reviewed regularly by the Chief Operating Decision Maker (“CODM”), or decision-making group, to evaluate performance and make operating decisions. The Company has identified its CODM as the Chief Executive Officer (“CEO”). The Company’s organizational structure and management reporting supports two operating segments: Mobileye and Moovit. The CODM evaluates performance, makes operating decisions and allocates resources based on the financial data of these operating segments. Operating segments do not record inter-segment revenue. Mobileye is presented as a reportable operating segment and Moovit, which is a mobility-as-a-service company, is presented within “Other” as per ASC 280, Segment Reporting. The CODM uses segment performance to allocate resources to segments in the annual budget and forecasting process and also uses that measure to assess the segment performance. Segment performance is the operating income (loss) reported excluding the amortization of acquisition-related intangible assets, share-based compensation expense and impairment of goodwill. Starting in 2025, the measure of segment performance used by the CODM changed and as a result, the Company’s segment performance measure was updated to also exclude share-based compensation expenses (that were previously included in segment performance). The change aligns with segment information that is now regularly provided to the CODM and reflects how the CODM assesses segment performance and makes strategic decisions about the business. Prior period amounts have been recast as a result of the change in segment measure. The measure of assets has not been disclosed for each segment as it is not regularly provided to the CODM. The accounting policies of the individual segments are the same as those described in Note 2 Significant Accounting Policies . The following are segment results for each year: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 27, 2025 U.S. dollars in millions ​ ​ ​ Mobileye ​ ​ ​ Other ​ ​ ​ Total Revenues $ 1,855 ​ $ 39 ​ $ 1,894 Cost of revenues ​ 604 ​ ​ 7 ​ ​ — Research and development, net ​ 883 ​ ​ 29 ​ ​ — Sales and marketing ​ 31 ​ ​ 10 ​ ​ — General and administrative ​ 46 ​ ​ 4 ​ ​ — Segment performance $ 291 ​ $ ( 11 ) ​ $ 280 Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ( 443 ) Share-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ( 277 ) Financial income (expense), net ​ ​ ​ ​ ​ ​ ​ ​ 63 Income (loss) before taxes on income ​ ​ ​ ​ ​ ​ $ ( 377 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of property and equipment $ 74 ​ $ — ​ $ 74 ​ 130 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 28, 2024 U.S. dollars in millions ​ ​ ​ Mobileye ​ ​ ​ Other ​ ​ ​ Total Revenues $ 1,613 ​ $ 41 ​ $ 1,654 Cost of revenues ​ 529 ​ ​ 6 ​ ​ — Research and development, net ​ 810 ​ ​ 29 ​ ​ — Sales and marketing ​ 31 ​ ​ 13 ​ ​ — General and administrative ​ 40 ​ ​ 3 ​ ​ — Segment performance $ 203 ​ $ ( 10 ) ​ $ 193 Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ( 444 ) Share-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ( 279 ) Goodwill impairment ​ ​ ​ ​ ​ ​ ​ ​ ( 2,695 ) Financial income (expense), net ​ ​ ​ ​ ​ ​ ​ ​ 62 Income (loss) before taxes on income ​ ​ ​ ​ ​ ​ $ ( 3,163 ) ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of property and equipment $ 62 ​ $ — ​ $ 62 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended December 30, 2023 U.S. dollars in millions ​ ​ ​ Mobileye ​ ​ ​ Other ​ ​ ​ Total Revenues $ 2,045 ​ $ 34 ​ $ 2,079 Cost of revenues ​ 619 ​ ​ 5 ​ ​ — Research and development, net ​ 645 ​ ​ 32 ​ ​ — Sales and marketing ​ 33 ​ ​ 10 ​ ​ — General and administrative ​ 38 ​ ​ 4 ​ ​ — Segment performance $ 710 ​ $ ( 17 ) ​ $ 693 Amortization of intangible assets ​ ​ ​ ​ ​ ​ ​ ​ ( 474 ) Share-based compensation ​ ​ ​ ​ ​ ​ ​ ​ ( 252 ) Financial income (expense), net ​ ​ ​ ​ ​ ​ ​ ​ 49 Income (loss) before taxes on income ​ ​ ​ ​ ​ ​ $ 16 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Depreciation of property and equipment $ 39 ​ $ — ​ $ 39 ​ Total revenues based on the country that the product was shipped to were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ ​ December 27, ​ ​ ​ December 28, ​ December 30, U.S. dollars in millions ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 China $ 428 ​ $ 424 ​ $ 640 USA ​ 416 ​ ​ 304 ​ ​ 437 Germany ​ 297 ​ ​ 269 ​ ​ 353 South Korea ​ 192 ​ ​ 219 ​ ​ 164 United Kingdom ​ 117 ​ ​ 117 ​ ​ 150 Poland ​ 110 ​ ​ 82 ​ ​ 97 Slovakia ​ 88 ​ ​ 21 ​ ​ 6 Hungary ​ ​ 85 ​ ​ 76 ​ ​ 94 Czech Republic ​ 59 ​ ​ 55 ​ ​ 50 Thailand ​ ​ 30 ​ ​ 9 ​ ​ 2 Rest of World ​ 72 ​ ​ 78 ​ ​ 86 Total $ 1,894 ​ $ 1,654 ​ $ 2,079 ​ We generate the majority of our revenue from the sale of our EyeQ™ SoCs to OEMs primarily through sales to Tier 1 automotive suppliers. EyeQ™ SoC sales represented approximately 91 %, 86 %, and 89 % of our revenue for each of the years ended December 27, 2025, December 28, 2024 and December 30, 2023, respectively. 131 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Major Customers Revenue from major customers that amount to 10% or more of total revenue: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Year ended ​ ​ ​ ​ ​ December 27, ​ ​ ​ December 28, ​ ​ ​ December 30, ​ ​ ​ ​ ​ 2025 ​ ​ ​ 2024 ​ ​ ​ 2023 ​ ​ ​ Percent of total revenues ​ ​ ​ Customer A ​ 30 % 27 % 30 % Customer B ​ 17 % 20 % 24 % Customer C ​ 15 % 14 % 14 % Customer D ​ 14 % * ​ * ​ Customer E ​ * ​ 13 % * ​ *Less than 10% Accounts receivable balances of major customers that amount to 10% or more of total accounts receivable balance: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ ​ December 27, ​ December 28, ​ ​ ​ ​ ​ 2025 ​ ​ ​ 2024 ​ Percent of total accounts receivables balance ​ ​ ​ ​ ​ Customer A ​ 39 % 35 % Customer B ​ * ​ 23 % Customer C ​ 14 % 13 % Customer D ​ 13 % * ​ *Less than 10% ​ NOTE 13 - INVESTMENTS Debt Investments Debt investments include U.S. government bonds and money market funds. U.S. government bonds are for original maturities of up to six months and are classified as available for sale and measured at fair value with the related unrealized gains and losses included in other comprehensive income (loss), net. Money market funds, measured at fair value, consist of institutional investors money market funds and are readily redeemable to cash. The following tables summarize the Company’s marketable debt securities: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. dollars in millions ​ ​ ​ December 27, 2025 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reported as ​ ​ ​ ​ Amortized cost ​ ​ ​ Unrealized gain ​ ​ ​ Unrealized loss ​ ​ ​ Fair value ​ ​ ​ Cash and cash equivalents ​ ​ ​ Other current assets U.S. government bonds ​ $ 55 ​ $ — ​ $ — ​ $ 55 ​ $ — ​ $ 55 Money market funds ​ 1,016 ​ — ​ — ​ 1,016 ​ 1,016 ​ — Total ​ $ 1,071 ​ $ — ​ $ — ​ $ 1,071 ​ $ 1,016 ​ $ 55 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ U.S. dollars in millions ​ ​ ​ December 28, 2024 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Reported as ​ ​ ​ ​ Amortized cost ​ ​ ​ Unrealized gain ​ ​ ​ Unrealized loss ​ ​ ​ Fair value ​ ​ ​ Cash and cash equivalents ​ ​ ​ Other current assets U.S. government bonds ​ $ 33 ​ $ — ​ $ — ​ $ 33 ​ $ — ​ $ 33 Money market funds ​ 951 ​ — ​ — ​ 951 ​ 951 ​ — Total ​ $ 984 ​ $ — ​ $ — ​ $ 984 ​ $ 951 ​ $ 33 ​ 132 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Equity Investments Marketable equity securities During the second quarter of 2024, we purchased marketable equity investments in the amount of $ 10 million, which were classified within other current assets and measured at fair value. During the fourth quarter of 2024, we sold all of the marketable equity investments. Realized gains recorded in financial income (expense), net for the year ended December 28, 2024 amounted to $ 3 million. Non-marketable equity securities In 2024, the Company entered into a series of investment agreements with a privately held company, pursuant to which the Company agreed to purchase up to $ 25 million of preferred stock. In October 2024, the Company purchased $ 10 million of preferred stock in the privately held company. The Company no longer has an obligation to purchase additional preferred stock pursuant to the terms of the applicable preferred stock investment agreements. In July 2025, the privately held company entered into an agreement and plan of merger, pursuant to which a buyer agreed to acquire the privately held company and merge the foregoing with a wholly-owned subsidiary of the buyer, subject to satisfaction by the parties of certain closing conditions. Upon closing of the merger in August 2025, the Company received consideration in the amount of $ 10.3 million for its shares of preferred stock. In February 2026, the Company received additional consideration in the amount of $ 0.2 million, following the release of additional amounts that were held in escrow pursuant to the terms of the agreement and plan of merger. In connection with the agreement and plan of merger, the Company entered into an amendment of certain preferred stock investment agreements pursuant to which the Company had the option but not the obligation, to purchase additional preferred stock prior to the closing of the agreement and plan of merger. With the closing of the merger, the Company no longer has this option. The investment did not provide the Company the ability to control or have significant influence over the operations of the privately held company. We have accounted for the investment using the measurement alternative because the securities are not publicly traded and do not have a readily determinable fair value. Under the measurement alternative, the equity investment is initially recorded at its cost, but the carrying value may be adjusted through earnings upon an impairment or when there is an observable price change involving the same or a similar investment with the same issuer. Upon closing of the merger and the sale of our investment, the Company recognized financing income of $ 0.3 million. NOTE 14 - CONTINGENCIES U.S. Class Action On January 16, 2024, a putative class action captioned McAuliffe v. Mobileye Global Inc., et al., 1:24-CV-00310 (S.D.N.Y.), was filed in the United States District Court for the Southern District of New York against Mobileye and certain of its current and former officers. Following consolidation of the action with a substantively identical case, Le v. Mobileye Global Inc., et al., 1:24 - CV - 01390 (S.D.N.Y.), and the appointment of a lead plaintiff, an amended complaint was filed on September 13, 2024. In response to the defendants’ motion to dismiss, filed on October 25, 2024, lead plaintiff filed a second amended complaint on November 22, 2024. The second amended complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 in connection with defendants’ alleged misstatements and omissions concerning the build-up of excess inventory by certain Tier 1 Mobileye customers, and seeks unspecified damages and other relief on behalf of all persons and entities who purchased or otherwise acquired Mobileye securities between January 26, 2023 and August 8, 2024. The second amended complaint also includes claims asserted by an additional plaintiff under Sections 11 and 15 of the Securities Act of 1933 on behalf of a putative class of purchasers of Mobileye Class A common stock offered in Mobileye’s June 5, 2023 secondary offering. Mobileye and the individual defendants filed a motion to dismiss the second amended complaint on December 20, 2024. On January 24, 2025, the lead plaintiff filed a brief in opposition to Mobileye’s and the other named defendants’ motion to dismiss. On February 21, 2025, Mobileye and the other named defendants jointly filed a brief in reply to the lead plaintiff’s opposition brief. On April 16, 2025, the Court granted the defendants’ motion and dismissed the second amended complaint in full without leave to amend, closing the case. On May 16, 2025, the lead plaintiff filed a notice of appeal with the U.S. Court of Appeals for the Second Circuit. On July 11, 2025, the lead plaintiff filed a brief in support of their appeal. On August 15, 2025, Mobileye and the named defendants filed their opposition brief, and on September 5, 2025, the appellants filed their reply brief in further support of the appeal. Oral argument was held on December 4, 2025. On December 16, 2025, the Second Circuit issued a summary order affirming the Court’s dismissal of the second amended complaint in full. The lead plaintiff has ninety days from the 133 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS date of the summary order to file a writ of certiorari with the U.S. Supreme Court. We intend to defend the matter vigorously. No provision was recorded in the consolidated financial statements as of December 27, 2025. U.S. Derivative Action - U.S. District Court for the Southern District of New York On April 12, 2024, a derivative lawsuit was filed against the members of the Mobileye Board of Directors and Intel Corporation, in its capacity as Mobileye’s controlling shareholder. Mobileye was also named as a nominal defendant. The complaint principally asserts claims for breach of fiduciary duty and unjust enrichment based on alleged failures to take steps to prevent the Company from making allegedly false and misleading statements concerning the build-up of excess inventory by certain Tier 1 Mobileye customers. The complaint also asserts a claim for violation of Section 14(a) of the Securities Exchange Act of 1934 based on alleged misstatements and omissions in Mobileye’s 2023 proxy statement. The complaint seeks unspecified damages and other relief. Since May 24, 2024, the derivative action has been stayed by the court pending resolution of the anticipated motion to dismiss in the consolidated securities action. On June 27, 2024, an additional derivative lawsuit was filed in the United States District Court for the Southern District of New York against certain members of the Mobileye Board of Directors, certain of Mobileye’s current and former officers, and Intel Corporation, in its capacity as Mobileye’s controlling shareholder. Mobileye was also named as a nominal defendant. On July 9, 2024, this derivative action was consolidated with the derivative action originally filed on April 12, 2024 and the consolidated derivative action was stayed by the court pending resolution of the anticipated motion to dismiss in the consolidated securities action. Following dismissal of the consolidated securities action, the Court ordered the parties to jointly propose a schedule for further proceedings by April 24, 2025. On April 25, 2025, the Court entered a stipulation and order of voluntary dismissal without prejudice. In the event the plaintiffs refile this lawsuit, we intend to continue defending the matter vigorously. No provision was recorded in the consolidated financial statements as of December 27, 2025. U.S. Derivative Action - State of Delaware On May 6, 2025, a derivative lawsuit captioned Levitan et al. vs. Shashua et al. was filed in the State of Delaware’s Court of Chancery against certain current and former members of the Mobileye Board of Directors and against Intel Corporation, in its capacity as Mobileye’s controlling shareholder. Mobileye was also named as a nominal defendant. The complaint principally asserts claims for breach of fiduciary duty against the named director defendants and breach of fiduciary duty and unjust enrichment against Intel, alleging that the named director defendants and Intel should not have authorized Mobileye’s June 5, 2023 secondary offering given their purported knowledge of the alleged challenges facing the Company concerning customer demand and the buildup of excess inventory by Mobileye’s Tier 1 customers. The complaint seeks unspecified damages and other relief. On September 8, 2025, Mobileye, Intel Corporation and the named director defendants filed a motion to dismiss the complaint. Plaintiffs thereafter informed defendants that, rather than opposing the motion, they intended to file an amended complaint. The parties stipulated and the court ordered that the plaintiffs’ amended complaint was due on January 23, 2026. On January 28, 2026, the Court entered a stipulation and order of voluntary dismissal with prejudice. No provision was recorded in the consolidated financial statements as of December 27, 2025. 134 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS U.S. Patent Litigation On January 26, 2024, Facet Technology Corp. (“Facet”) sued Mobileye in the U.S. District Court for the Eastern District of Texas for allegedly infringing two patents. Captioned Facet Technology Corp. v. Mobileye Global, Inc., the complaint alleges that certain Mobileye products directly and indirectly infringe both patents. The complaint seeks unspecified damages, a permanent injunction, and attorneys’ fees and costs. On November 4, 2024, Mobileye filed a motion to dismiss asserting improper venue, which the court dismissed without prejudice to refile in view of an amended complaint filed by Facet, adding Mobileye Vision Technologies Ltd. and Mobileye Inc., each wholly-owned indirect subsidiaries of Mobileye Global Inc., as additional defendants. On November 7, 2024, Mobileye Vision Technologies Ltd. and Mobileye Inc., sued Facet Technology Corp. in the U.S. District Court of Minnesota seeking a declaratory judgment that the Mobileye plaintiffs do not infringe either patent. On March 5, 2025, the Patent Trial and Appeal Board (“PTAB”) of the US Patent and Trademark Office instituted two Inter Parte Review (IPR) proceedings filed by Mobileye Vision Technologies Ltd. against the patents asserted by Facet. On March 15, 2025, the parties agreed and the relevant courts entered orders staying all litigation pending the outcome of the both IPRs. On January 23, 2026, the PTAB issued final written decisions in both IPRs, finding some claims unpatentable and permitting some claims to survive. For the claims asserted against Mobileye in district court, the PTAB ruled in Mobileye’s favor on all claims except a single claim of one patent. Both parties have until February 23, 2026 to request Director Review. If no request for Director Review is filed, the parties have until March 27, 2026 to file a notice of appeal with the Court of Appeals for the Federal Circuit. We intend to defend the matter vigorously. No provision was recorded in the consolidated financial statements as of December 27, 2025. NOTE 15 - SUBSEQUENT EVENTS Share-based compensation In January 2026, the Company’s Chief Executive Officer approved, pursuant to the authority delegated by the compensation committee, the issuance of restricted stock units to be issued under our 2022 Plan. The total aggregate fair value of RSUs granted was $ 15.0 million, which constituted 1,299 thousand RSUs, which will vest over a service period of three years . Share Purchase Agreement signed between Mobileye Global and Mobileye Vision for the acquisition of 100 % of Mentee Robotics shares On February 3, 2026, the Company and Mobileye Vision Technologies Ltd. (a wholly-owned indirect subsidiary of the Company) acquired 100 % of the issued and outstanding stock of Mentee Robotics, pursuant to the Share Purchase Agreement. The Acquisition was approved by the Board, acting on the recommendation of a strategic transaction committee consisting of four disinterested directors ( two of whom are independent). The Audit Committee of the Board also approved the Acquisition pursuant to the Company’s Related Persons Transaction Policy. Intel, as the sole beneficial holder of the Company’s issued and outstanding Class B common stock, also approved the Acquisition pursuant to the Company’s Amended and Restated Certificate of Incorporation. Prof. Shashua recused himself from the Board’s consideration and approval of the Acquisition. Prof. Amnon Shashua, President and CEO of the Company, is the Chairman, Co-Founder and a significant shareholder of Mentee Robotics, and Prof. Shai Shalev-Shwartz, Chief Technology Officer of the Company, is Co-Founder and a significant shareholder of Mentee Robotics (Prof. Shalev-Shwartz, together with Prof. Shashua and Prof. Lior Wolf, the Chief Executive Officer and a Co-Founder of Mentee Robotics, the “Mentee Founders”). In addition, Prof. Amnon Shashua’s son and son-in-law, are both employees of Mentee Robotics and each held vested and unvested options issued pursuant to Mentee Robotics’s employee incentive plan and therefore receive some consideration pursuant to the terms of the Share Purchase Agreement. The Share Purchase Agreement provided for an aggregate purchase price of $ 900 million, which consisted of (i) approximately $ 612 million in cash (subject to certain adjustments,) and (ii) 26,279,824 shares of Class A common stock of the Company. The entirety of such Class A common stock was allocated to the Mentee Founders (the “Aggregate Stock Consideration”). 10 % of the Aggregate Stock Consideration is subject to a six month lock-up period pursuant to a Lock-Up Agreement. The remaining 90 % of the Aggregate Stock Consideration was deposited with a deferred consideration trustee and will be released in equal portions twenty-four and forty-eight months after the closing date on February 3, 2026, subject to continued employment, or under certain circumstances affiliation, with the Company and its subsidiaries. Prof. Amnon Shashua received 37.83 % of the total consideration, valued at approximately $ 341 million, to be paid evenly in cash and Class A Stock, and Prof. Shai Shalev-Shwartz received 13.07 % of the total consideration, valued at approximately $ 118 million, to be paid evenly in cash and the Company’s Class A common stock. 135 Table of Contents MOBILEYE GLOBAL INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS At the closing, $ 95 million of the purchase price was deposited with an escrow agent (provided that with respect to Mentee Founders, 50 % of their pro rata portion of the escrow was deposited in the form of Class A common stock) to secure the post-closing purchase price adjustments and certain indemnification obligations of the shareholders of Mentee Robotics. Pursuant to the Share Purchase Agreement, (i) all vested options to acquire shares of Mentee Robotics (each option, a “Mentee Option”) and 20 % of unvested Mentee Options were cancelled and converted into the right to receive a portion of the cash consideration based on the intrinsic value of such Mentee Options at the purchase price and (ii) all remaining unvested Mentee Options were cancelled and converted into the right to receive a number of unvested RSUs of the Company calculated based on the volume weighted average of the closing sale prices for the Company’s Class A common stock over the thirty (30) Trading Days ending immediately prior to February 3, 2026 and with a value equal to the intrinsic value of such Mentee Options at the purchase price. The Share Purchase Agreement contains customary representations, warranties and covenants of the Company, Mobileye Vision Technologies Ltd. and Mentee Robotics, certain of which (except for the representations and warranties of the Company) shall survive the closing of the Acquisition. The shareholders of Mentee Robotics have agreed to indemnify the Company and Mobileye Vision Technologies Ltd. for certain breaches of representations, warranties and covenants. ​ ​ 136 Table of Contents Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosures None.