Mobileye Expects Ending Internal Lidar Development Action Not To Have Material Impact On Results In 2024; To Result In Avoidance Of Lidar Development Spending In The Future
Portfolio Pulse from Benzinga Newsdesk
Mobileye has decided to end its internal lidar development, which is not expected to materially impact its 2024 results. This move will avoid future lidar development spending, with 2024 operating expenses for the lidar R&D unit estimated at $60 million.
September 09, 2024 | 11:40 am
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Mobileye's decision to cease internal lidar development is expected to have no material impact on its 2024 financial results. The move will result in cost savings by avoiding future lidar R&D expenses, with 2024 costs projected at $60 million.
Mobileye's decision to stop internal lidar development is strategic, aiming to cut future R&D costs. The company anticipates no significant impact on its 2024 financial results, suggesting that lidar was not a major revenue driver. The $60 million in projected 2024 expenses, including $5 million in share-based compensation, will be avoided in the future, potentially improving profitability.
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