Core Insights - The company reported a fourth quarter revenue growth of 41.8%, reaching $31.1 million, driven by strong performance across all segments, particularly in Safety Tech and Aeronautics [1][8] - The adjusted net loss for the quarter narrowed to $3.7 million from $11.2 million in the prior year, marking a significant improvement in profitability [1][11] - The company achieved its first-ever quarter of positive adjusted EBITDA at $0.2 million, compared to a negative $6.0 million in the same quarter last year [1][11] - Full-year sales surpassed $100 million for the first time, with over 80% of sales coming from recurring customers [1][5] - The company introduced a 10-year committed and contracted backlog, indicating strong long-term demand across segments [1] - Initial guidance for 2025 anticipates healthy double-digit revenue growth and the first full year of positive adjusted EBITDA [1][19] Fourth Quarter 2024 Highlights - Revenue for the fourth quarter increased to $31.1 million, a 41.8% increase from $22.0 million in Q4 2023 [7][8] - Gross profit for the quarter was $11.4 million, up 81.4% from $6.3 million in the prior year, with a gross margin improvement to 36.5% from 28.5% [9][10] - Total operating expenses rose to $15.8 million, a 5.5% increase compared to $15.0 million in Q4 2023, primarily due to increased stock-based compensation [10] Full Year 2024 Highlights - Total revenue for the full year reached $103.5 million, a 32.8% increase from $78.0 million in 2023 [7] - The gross margin for the full year improved to 28.7%, up 310 basis points from 25.6% in the previous year [7] - The net loss for the year was $53.2 million, reduced from a loss of $79.3 million in 2023 [7] Segment Performance - Safety-Tech Division: Revenue increased by 73.0% to $13.0 million, with gross profit rising 212.7% to $3.0 million [12] - Aeronautics Division: Revenue grew by 26.7% to $13.4 million, with gross profit increasing 62.2% to $6.8 million [13] - Architecture Division: Revenue rose by 31.8% to $4.1 million, with gross profit up 54.8% to $1.5 million [16] - Automotive Division: Revenue decreased by 14.7% to $0.7 million, reflecting timing impacts of full-year orders [17] Financial Position - As of December 31, 2024, the company had total liquidity of $40.6 million, including $5.6 million in cash and a $35.0 million undrawn credit facility [18] - Total debt stood at $38.4 million, with a significant portion being short-term receivable financings [18] Future Outlook - The company expects full-year revenue for 2025 to be in the range of $130 million to $140 million, representing approximately 30% growth compared to 2024 [19] - The anticipated positive adjusted EBITDA for 2025 is expected to be supported by a strong recurring revenue base and operational leverage [19]
Gauzy Ltd. Announces Record Fourth Quarter and Full Year 2024 Results