Mobileye N.V. (NYSE: MBLY) reported its first-quarter financial results Monday before the markets opened. The company had $0.08 in earnings per share (EPS) on $45.6 million in revenue, versus Thomson Reuters consensus estimates of $0.07 in EPS on $44.23 million in revenue.

The company did not give guidance for the second quarter or the full year, but the consensus estimates are for EPS of $0.08 and revenue of $47.57 million for the second quarter. Consensus estimates for the full year are $0.39 in EPS on $218.27 million in revenue.

Free cash flow for Mobileye was $18.75 million for the first quarter, compared to $4.95 million in the same period of the previous year.

Back in March, Mobileye completed a secondary offering consisting of 14.5 million shares. This came on the heels of an upgrade from one of the offering’s underwriters, Goldman Sachs. At that time, Goldman Sachs raised Mobileye to a Buy rating from Neutral and raised its price target to $50 from $40.40.

Ziv Aviram, co-founder, president and CEO of Mobileye, said:

The first quarter marked a strong start to the year, highlighted by two significant new program wins that will include our EyeQ4 chip, demonstrating the ongoing demand for our state-of-the-art technology, which bundles multiple applications into a single package. During the quarter we saw accelerating trends toward ADAS and autonomous vehicle adoption, driven by recent announcements by OEMs and regulatory agencies, to improve driver safety. As a result, we believe the company is well positioned to benefit from increased global penetration.

At the end of the first quarter, Mobileye had cash, cash equivalents and short-term investments of $426.2 million, compared to $375.1 million at the end of 2014’s fourth quarter.

So far year to date, Mobileye has risen about 12.9%. Currently the company also has a market cap of $9.9 billion.

Shares of Mobileye closed Friday up 1.9% at $45.81. Following the release of the earnings report, shares were up 1.7% at $46.60 in premarket trading. The stock has a consensus analyst price target of $55.78 and a 52-week trading range of $31.11 to $60.28.

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