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Gauzy Ltd. Announces Record Fourth Quarter and Full Year 2024 Results
GAUZGauzy Ltd.(GAUZ) GlobeNewswire·2025-03-11 11:00

Core Insights - The company reported a fourth quarter revenue growth of 41.8%, reaching 31.1million,drivenbystrongperformanceacrossallsegments,particularlyinSafetyTechandAeronautics[1][8]−Theadjustednetlossforthequarternarrowedto31.1 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 11.2millionintheprioryear,markingasignificantimprovementinprofitability[1][11]−Thecompanyachieveditsfirst−everquarterofpositiveadjustedEBITDAat11.2 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 6.0millioninthesamequarterlastyear[1][11]−Full−yearsalessurpassed6.0 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 31.1million,a41.831.1 million, a 41.8% increase from 22.0 million in Q4 2023 [7][8] - Gross profit for the quarter was 11.4million,up81.411.4 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 15.8million,a5.515.8 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 103.5million,a32.8103.5 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 53.2million,reducedfromalossof53.2 million, reduced from a loss of 79.3 million in 2023 [7] Segment Performance - Safety-Tech Division: Revenue increased by 73.0% to 13.0million,withgrossprofitrising212.713.0 million, with gross profit rising 212.7% to 3.0 million [12] - Aeronautics Division: Revenue grew by 26.7% to 13.4million,withgrossprofitincreasing62.213.4 million, with gross profit increasing 62.2% to 6.8 million [13] - Architecture Division: Revenue rose by 31.8% to 4.1million,withgrossprofitup54.84.1 million, with gross profit up 54.8% to 1.5 million [16] - Automotive Division: Revenue decreased by 14.7% to 0.7million,reflectingtimingimpactsoffull−yearorders[17]FinancialPosition−AsofDecember31,2024,thecompanyhadtotalliquidityof0.7 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 5.6millionincashanda5.6 million in cash and a 35.0 million undrawn credit facility [18] - Total debt stood at 38.4million,withasignificantportionbeingshort−termreceivablefinancings[18]FutureOutlook−Thecompanyexpectsfull−yearrevenuefor2025tobeintherangeof38.4 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]