On October 26th local time, Mobileye, an autonomous driving car company under Intel , once again landed on the Nasdaq Exchange. As early as 2014, Mobileye was listed on on on the New York Stock Exchange, and was later delisted due to the acquisition of its current boss Intel. On the first day of
listing, Mobileye's stock price performed well, rising more than 40% during the session, closing up 37.95% at US$28.97 per share, with a total market value of US$23.07 billion.
Source: Oriental Fortune
Entered the capital market again
Valuation shrinks
Mobileye focuses on computer vision technology (software algorithms and chips), sensing, positioning, data analysis and mapping solutions based on machine learning. It is a leader in the development and deployment of advanced driving assistance system (ADAS) and autonomous driving technology and solutions.
Mobileye's IPO is priced at US$21, and it will issue 41 million common shares publicly, raising a total of US$861 million. It is higher than the previous IPO price range of US$18-20, corresponding to a valuation of approximately US$17 billion, slightly higher than the US$15.3 billion when Intel acquired Mobileye in 2017, but is far from the initially set US$50 billion.
market analysis points out that choosing an IPO this year may not be the best time for Mobileye. According to Dealogic data, the US market has raised only $7.4 billion in IPO transactions this year. 2022 may become the worst year for the issuance of new shares in US stocks in decades.
Oriental Fortune data shows that since the beginning of this year, Nasdaq Composite Index has fallen by nearly 30%.
Intel CEO Pat Gelsinger once said that Intel does not need the funds brought by Mobileye's listing. He said Mobileye's listing could increase visibility in the autonomous vehicle division and attract more businesses.
prospectus shows that Mobileye's revenue has continued to grow in recent years, and its losses have gradually narrowed. From 2019 to 2021, Mobileye achieved revenue of US$879 million, US$967 million and US$1.4 billion, respectively, with net losses of US$328 million, US$196 million and US$75 million respectively during the same period. In the six months ended July 2 this year, Mobileye's revenue reached US$854 million, approaching its full-year revenue for 2019, with a net loss of US$67 million.
has sold a total of 100 million chips
cooperated with more than 50 car companies
Mobileye, which has now entered the fifth generation. Mobileye has sold more than 100 million chips in the 17 years since the launch of the first-generation EyeQ chip.
In the first half of this year, Mobileye shipped about 15.9 million system-level chips, and shipped about 17.5 million, 19.7 million, and 28.1 million from 2019 to 2021.
Mobileye founder and CEO Amnon Shashua posted on October 26: "In the five years as an wholly-owned subsidiary of Intel, the company has accelerated its business development. It has successfully developed and delivered a highly advanced version of the core platform technology required for the most advanced driver assistance system (ADAS).
"Our dream is to give every car life-saving driving assistance technology. ”Amnon Shashua said that since the delivery of the first EyeQ chip, more than 800 models have been equipped with Mobileye, with a total of more than 125 million vehicles equipped with the company's technology. Mobileye expects that more than 266 million vehicles will be equipped with the company's technology by 2030.
This year, Mobileye has cooperated with Volkswagen, Ford and Geely ZEEKR on Mobileye maps, advanced driving assistance systems (ADAS) and autonomous vehicle (AV) technologies.
According to Mobileye, ZEEK, the high-end electric vehicle technology brand, Based on R's success, three other brands under Geely Holding Group will launch electric vehicles using Mobileye technology globally next year.
In the field of autonomous driving, Mobileye is an absolute giant company and has occupied a large part of the market share for many years. Gartner data shows that at the end of 2019, Mobileye's market share in driver assistance systems (ADAS) was around 70%. However, now there are many autonomous driving manufacturers and the commercialization process is accelerating, and Mobileye's competitors, including Nvidia, Horizon, etc., are bringing a strong impact to it.
Editor: Zheng Yashuo
