What factors drove the changes in Gauzy's revenue and profit?

What guidance did Gauzy's management provide for the next earnings period?

What is Gauzy's gross profit margin?

What is the revenue and EPS growth rate for Gauzy year over year?

What were the key takeaways from Gauzy's earnings call?

What does Gauzy do and what are its main business segments?

Did Gauzy beat or miss consensus estimates last quarter?

What is Gauzy's latest dividend and current dividend yield?

- **Backlog Soars 100%+**: $43M record backlog driven by Yutong doubling orders
- **Strategic Breakthroughs**: Cadillac CELESTIQ launch and prefabricated stack production
- **Financial Resilience**: $53M debt with $35M undrawn credit line
- **Guidance Intact**: $130-140M 2025 revenue target reaffirmed
- **Operational Scale**: 700+ employees, 1.9M sq ft production capacity
- **Key Metrics**: 21.4% gross margin, -$8.7M EBITDA, $36.2M liquidity

**【CEO Summary Section】**
- **Record Backlog Growth**: Q2 ended with a record $43 million backlog, up from $42.9 million, driven by a 100%+ order increase from key customers like Yutong (Asia's largest bus manufacturer). 
- **Strategic Wins**: 
  - Secured first customer delivery for GM's Cadillac CELESTIQ featuring industry's largest smart glass roof
  - Launched prefabricated smart glass stack with 1.9M sq ft annual production capacity
  - Expanded into marine sector with 9 programs secured
- **Financial Strength**: Raised $15M debt financing at favorable terms, bringing total debt to $53M with $35M undrawn credit line
- **Guidance Reaffirmation**: Full year 2025 revenue guidance of $130-140M ($31.5M/Q4 breakeven) maintained despite Q2 shipment delays
- **Operational Scaling**: 
  - Promoted new EVP for Aeronautics
  - Streamlined global operations with divisional production teams
  - 700+ employees across R&D, manufacturing, and sales

**【CFO Financial Commentary】**
- **Q2 Results**: 
  - Revenue: $20.1M (down 23% YoY)
  - Gross Margin: 21.4% (vs 27% YoY), driven by 37% margin contraction in Aeronautics
  - OpEx: $16.8M (up 15% YoY) due to public company costs
  - Adj. EBITDA: -$8.7M (vs -$3.9M YoY)
- **Liquidity**: 
  - $36.2M total liquidity
  - Raised $5M debt post-quarter, total debt now $53M
  - $35M undrawn credit facility available
- **Cash Flow**: 
  - Free cash flow outflow improved to -$5.2M (vs -$11.5M YoY)
  - 80% of invoices factored to accelerate cash collection

**【Q&A Highlights】**
- **Timing Dynamics**: 
  - $43M backlog reflects 70%+ H2 delivery concentration
  - 2-3 week production halt in June caused $4-5M delay
  - 2025 budget assumes $45M/Q3 and $50M/Q4 capacity
- **Liquidity Confidence**: 
  - $35M credit line provides 'as good as cash' liquidity
  - Mizrahi Bank debt at 6.5% interest rate
  - No equity dilution planned
- **EBITDA Levers**: 
  - $31M revenue breakeven point
  - 80%+ gross margin on prefabricated stacks
  - $4.8M vacation liability reduction in H2
- **Segment Mix**: 
  - Aeronautics ($21.3M) and Automotive ($11.7M) dominate backlog
  - Marine and Safety-Tech show high-margin growth potential

Gauzy Ltd. Ordinary Shares (GAUZ)-13 Aug 25-2025 Q2 Earnings call transcript

- **Backlog Growth**: Q1 backlog surged to $36M, up 16% from $31M, signaling strong demand across divisions.
- **Debt Optimization**: Secured $10M debt at 370bps lower rate, reducing financial costs and enhancing liquidity.
- **Major Contracts**: Won $600M airline shading market share with Air France-KLM and broke into Mercedes-Benz's $25B automotive glass market.
- **Financial Health**: Q1 gross margin 25.6%, up 50bps YoY; free cash flow improved 72% YoY to -$2.3M.
- **2025 Outlook**: Reaffirmed $130-140M revenue and positive EBITDA, driven by backlog execution and operational efficiency.


**【CEO Key Takeaways】**
- **Q1 Revenue Performance**: Despite global market uncertainty, the company maintained strong demand across divisions, with Automotive and Safety-Tech growth offsetting delays in Aero and Architecture. Backlog spiked to $36M, up from $31M at year-end 2024.
- **Business Milestones**: Signed $10M of a $20M debt facility with Mizrahi Bank at 370bps lower interest rate than prior terms. Secured major contracts with Air France-KLM (Boeing 777 shading systems) and Mercedes-Benz (Vision V show car), expanding into $25B automotive smart glass market.
- **2025 Guidance**: Reaffirmed full-year revenue of $130-140M (+30% midpoint YoY) and positive adjusted EBITDA, driven by backlog execution and operational efficiency.

**【CFO Financial Highlights】**
- **Q1 Financials**: Revenue $22.4M (vs. $24.7M YoY), gross margin 25.6% (up 50bps), operating expenses $14.4M (-9% YoY). Adjusted EBITDA -$5.5M (vs. -$4.8M YoY). Free cash flow -$2.3M (vs. -$8.4M YoY).
- **Segment Performance**: Safety-Tech gross margin improved to 19.7% (vs. 12.8% YoY). Aero revenue down 24.6% due to timing shifts, but gross margin 33.9% (vs. 44.1% YoY). Automotive revenue $1.5M (vs. $1.3M YoY) with accelerating production wins.
- **Liquidity**: $36.2M total liquidity, including $35M undrawn credit line. Debt $37.3M, with $10M new debt facility closing imminent.

**【Q&A Key Themes】**
- **Order Execution**: Q2 expected to see strong revenue step-up as $36M backlog ships. Tariffs had minimal impact; no cancellations, only timing delays.
- **Cash Flow Dynamics**: Working capital improvements (e.g., supplier payment terms, invoice factoring) drove cash flow efficiency. 2025 free cash flow expected negative, with 2026 positivity target.
- **Debt Progress**: Second $10M debt tranche expected to close by Q3. New facility terms reduce interest costs and eliminate prepayment penalties.
- **Segment Growth**: Aero and Safety-Tech dominate backlog ($15.5M and $17M, respectively). Automotive orders ($6M) reflect Cadillac Celestiq EV ramp-up and Mercedes-Benz partnerships.
- **Profitability Path**: Gross margin expansion and OpEx discipline (Q1 OpEx flat for full year) to drive EBITDA positivity in 2025.


Gauzy Ltd. Ordinary Shares (GAUZ)-13 May 25-2025 Q1 Earnings call transcript

- **Revenue Growth & Profitability**: Q4 2024 revenue up 41.8% YoY to $31.1M, full year $103.5M (32.8% YoY). EBITDA turned positive at $0.2M, gross margin 36.5% (800bps YoY).
- **Backlog & Visibility**: $409M 10-year backlog, ~50% to ship in 2025. Key wins: Ford trucks (Smart-Vision 3), Ferrari (SPD glass), Yutong buses (ADAS retrofits).
- **2025 Outlook**: Revenue $130-140M (30% growth), adj. EBITDA positive. Liquidity of $40.6M supports growth, 2026 free cash flow target.
- **Segment Strength**: Safety-Tech (73% Q4 growth), Aeronautics (51.1% gross margin), Architecture (31.8% growth).

**【CEO Summary Section】**
- **Record Financial Performance**: Q4 2024 revenue reached $31.1 million (41.8% YoY growth), full year revenue $103.5 million (32.8% YoY). Gross margin expanded to 36.5% in Q4 (800bps YoY), and EBITDA turned positive at $0.2 million.
- **Backlog Visibility**: Introduced 10-year committed backlog of $409 million, with ~50% expected to ship in 2025. Key wins include Ford trucks (Smart-Vision 3 ADAS), Ferrari (SPD smart glass), and Yutong buses (ADAS retrofits).
- **Segment Growth Drivers**: Safety-Tech (73% Q4 growth), Aeronautics (26.7% Q4 growth), and Architecture (31.8% Q4 growth). 80% of 2024 revenue came from recurring customers.

**【CFO Financial Commentary】**
- **Q4 Financials**: GAAP net loss narrowed to $11.4 million (vs. $20.7 million YoY), Non-GAAP adj. net loss $3.7 million (vs. $11.2 million YoY). Full year adj. EBITDA improved to -$14.2 million (vs. -$20.7 million YoY).
- **2025 Guidance**: Revenue $130-140 million (30% midpoint growth), with adj. EBITDA expected positive. Liquidity of $40.6 million (cash + undrawn credit line) supports growth.
- **Segment Margins**: Aeronautics gross margin 51.1% (vs. 39.9% YoY), Architecture 37.6% (vs. 32% YoY), Safety-Tech 23% (vs. 12.7% YoY).

**【Q&A Key Takeaways】**
- **Backlog Execution**: ~50% of $409 million backlog to ship in 2025, with remaining orders from recurring customers. Seasonality: Q4 strongest, Q1 slowest.
- **Cash Flow Management**: 2025 CapEx ~$10 million, aiming for 2026 free cash flow positive. Debt financing of $10-20 million to support growth.
- **Gross Margin Outlook**: Automotive (Light Control + ADAS) to drive margin expansion, with Aeronautics maintaining high margins. Full year adj. EBITDA expected low single-digit positive.

GAUZ

GAUZ fundamentals

Earnings Call

You can ask Aime