Core Insights - Gauzy Ltd. reported strong demand and backlog growth, with a purchase order backlog increase of $5 million since the start of 2025, reaching a total of $35.7 million at quarter end [3][5][19] - The company reaffirmed its 2025 guidance, expecting revenue growth of over 30% compared to 2024, with full-year revenue projected between $130 million and $140 million [19] - The company signed a $10 million debt financing agreement with Mizrahi Bank, enhancing its financial position and reducing financing costs by approximately 30% compared to previous terms [7][13] Financial Performance - Revenues for Q1 2025 were $22.4 million, down from $24.7 million in Q1 2024, primarily due to declines in the Aeronautics and Architecture divisions [5][8] - Gross margin improved to 25.6% from 25.1% year-over-year, despite a decrease in gross profit to $5.7 million from $6.2 million [5][9] - The net loss for Q1 2025 was $10.8 million, an improvement from a net loss of $13.2 million in the prior year [10][11] Segment Performance - Safety-Tech division revenue increased by 1.5% to $10.8 million, with gross profit rising 55.7% to $2.1 million, resulting in a gross margin of 19.7% [12] - Aeronautics division revenue decreased by 24.6% to $7.6 million, with gross profit down 42.1% to $2.6 million, leading to a gross margin of 33.9% [14] - Automotive division revenue grew by 14.2% to $1.5 million, with gross profit turning positive at $0.2 million compared to a gross loss in the prior year [16] Balance Sheet and Liquidity - As of March 31, 2025, total liquidity was $36.2 million, including $1.2 million in cash and a $35 million undrawn credit facility [17] - Total debt stood at $37.3 million, with $12.5 million in short-term receivable financings [17] - The company had a basic and diluted share count of 18,733,937 as of March 31, 2025 [18] Business Developments - Gauzy's technology was selected by Air France for its new La Première First-Class suites on Boeing 777 models [6] - The company began serial production for GM's Cadillac Celestiq EV, marking a continuation of its business relationship with GM [6] - Gauzy unveiled a smart glass projection display at MSC's new Miami terminal, the largest cruise ship terminal in the world [13]