Mobileye Global Inc. (MBLY) shares fell 5.24% in pre-market trading following the release of its second-quarter 2026 results and the announcement of a planned CEO transition.

The autonomous driving technology company reported flat year-over-year revenue of $508 million for the quarter, despite exceeding analyst estimates. While adjusted earnings per share of $0.19 significantly beat expectations of $0.06, the company's gross margin declined by 3.54 percentage points to 46%, pressured by lower average selling prices for its EyeQ chips and a higher mix of lower-margin SuperVision revenue.

Concurrently, Mobileye announced that founder and CEO Amnon Shashua plans to step down from his role once a successor is appointed. The board has initiated a search for a new chief executive, creating uncertainty around the company's leadership during a period of strategic execution. While the company raised its full-year adjusted operating income outlook, investors appear focused on the lack of revenue growth and margin compression alongside the impending management change.