A risk is a reserve before it's a headline, and a single-source dependency is a risk before it's a disruption. Mobileye's FY2025 Form 10-K discloses that it has co-developed six generations of its automotive-grade EyeQ system-on-chip with STMicroelectronics, and that it relies on that supplier to manufacture the EyeQ SoCs, particularly the EyeQ5 and EyeQ6. The filing states the company is, as a result, vulnerable to the risk that the supplier cannot meet its needs.

For a risk register, the relevant fact is the concentration. EyeQ is not a side product; it is the chip at the center of Mobileye's ADAS business and the principal driver of its revenue. When the manufacture of the core revenue product runs through essentially one foundry relationship, supply risk and revenue risk become the same risk. A disruption at the manufacturer is not a supply-chain footnote — it is a top-line event.

“SoC, EyeQ TM , with STMicroelectronics, including EyeQ TM 5 and EyeQ TM 6.”— SEC filing (10-Q) source

The 8-K timing tells you something, but so does the absence of one: this is a standing risk-factor disclosure, the kind a company carries year after year rather than reports as a sudden event. That is exactly why it deserves attention. Standing risks get discounted by readers precisely because they do not move; the financial-desk discipline is to keep pricing them anyway.

Mobileye's Q1 2026 10-Q adds a margin dimension: it attributes movement in results in part to a higher EyeQ-related cost per unit given a different mix of EyeQ products sold. So the same product line carries both the concentration risk and a cost-mix sensitivity — two levers a markets reader should track together, because a mix shift toward newer, costlier EyeQ generations changes the gross-margin math while the supplier dependency stays fixed.

The single-source language and the EyeQ cost-mix commentary are in Mobileye's FY2025 10-K and Q1 2026 10-Q, surfaced through SEC filings. For a risk correspondent, the foundry dependency is the line that prices the rest of the story.