SEGMENT INFORMATION

12 Months Ended

Dec. 28, 2024

SEGMENT INFORMATION

SEGMENT INFORMATION

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.

Segment performance is the operating income (loss) reported excluding the amortization of acquisition-related intangible assets and impairment of goodwill. The CODM uses segment performance to allocate resources (including employees and financial resources) to segments in the annual budget and forecasting process and also uses that measure to assess the segment performance. 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 the Significant Accounting Policies in Note 2.

The following is segment results for each year:

	Year ended December 28, 2024
					Amounts not
					allocated to
					segments profit
U.S. dollars in millions	Mobileye		Other		or loss		Consolidated
Revenues	$	1,613	$	41	$	—	$	1,654
Cost of revenues		531		6		376		913
Research and development, net		1,045		38		—		1,083
Sales and marketing		35		15		68		118
General and administrative		63		7		—		70
Goodwill impairment		—		—		2,695		2,695
Segment performance	$	(61)	$	(25)	$	(3,139)	$	(3,225)
Other financial income (expense), net								62
Income (loss) before taxes on income								(3,163)
Share-based compensation		264		15		—		279
Depreciation of property and equipment		62		—		—		62

	Year ended December 30, 2023
					Amounts not
					allocated to
					segments profit
U.S. dollars in millions	Mobileye		Other		or loss		Consolidated
Revenues	$	2,045	$	34	$	—	$	2,079
Cost of revenues		620		6		406		1,032
Research and development, net		848		41		—		889
Sales and marketing		38		12		68		118
General and administrative		62		11		—		73
Goodwill impairment
Segment performance	$	477	$	(36)	$	(474)	$	(33)
Interest income (expense) with related party, net								—
Other financial income (expense), net								49
Income (loss) before taxes on income								16
Share-based compensation		233		19		—		252
Depreciation of property and equipment		39		—		—		39

	Year ended December 31, 2022
					Amounts not
					allocated to
					segments profit
U.S. dollars in millions	Mobileye		Other		or loss		Consolidated
Revenues	$	1,843	$	26	$	—	$	1,869
Cost of revenues		473		5		469		947
Research and development, net		747		42		—		789
Sales and marketing		34		11		75		120
General and administrative		34		12		4		50
Goodwill impairment
Segment performance	$	555	$	(44)	$	(548)	$	(37)
Interest income (expense) with related party, net								(6)
Other financial income (expense), net								11
Income (loss) before taxes on income								(32)
Share-based compensation		158		16		—		174
Depreciation of property and equipment		23		—		—		23

Total revenues based on the country that the product was shipped to were as follows:

	Year ended
	December 28,		December 30,		December 31,
U.S. dollars in millions	2024		2023		2022
China		424		640		551
USA		304		437		472
Germany		269		353		268
South Korea		219		164		115
United Kingdom		117		150		221
Poland		82		97		69
Hungary		76		94		87
Czech Republic		55		50		8
Portugal		26		9		—
Rest of World		82		85		78
Total	$	1,654	$	2,079	$	1,869

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 86%, 89%, and 89% of our revenue for each of the years ended December 28, 2024, December 30, 2023 and December 31, 2022, respectively.

Major Customers

Revenue from major customers that amount to 10% or more of total revenue:

	Year ended
	December 28,		December 30,		December 31,
	2024		2023		2022
Percent of total revenues
Customer A	27	%	30	%	38	%
Customer B	20	%	24	%	18	%
Customer C	14	%	14	%	15	%
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 28,		December 30,
	2024		2023
Percent of total accounts receivables balance
Customer A	35	%	44	%
Customer B	23	%	10	%
Customer C	13	%	22	%