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Gauzy Ltd. (NASDAQ: GAUZ), a vision and light control technologies leader, reported Q2 2025 financial results with revenues of $20.1 million, down from $24.4 million in Q2 2024. The company achieved a record backlog of purchase orders reaching $42.9 million at quarter end. Despite lower revenues, Gauzy maintained strong business momentum with notable developments including General Motors’ Cadillac CELESTIQ deliveries featuring the industry’s largest smart glass panel.
Key financial metrics include a gross margin of 21.4% (vs 27.0% in Q2 2024), a net loss of $10.7 million (improved from $23.1 million loss), and an Adjusted EBITDA of ($8.7) million. The company secured $15 million in debt financing from Mizrahi Bank and maintains total available liquidity of $36.2 million. Gauzy reaffirmed its full-year 2025 guidance of $130-140 million in revenue with positive Adjusted EBITDA.
Gauzy Ltd. (NASDAQ: GAUZ), leader nelle tecnologie per la visione e il controllo della luce, ha comunicato i risultati finanziari del secondo trimestre 2025 con ricavi di $20.1 milioni, in calo rispetto ai $24.4 milioni del Q2 2024. La società ha raggiunto un portafoglio ordini record pari a $42.9 milioni a fine trimestre. Nonostante il calo dei ricavi, Gauzy ha mantenuto un solido slancio commerciale con sviluppi rilevanti, tra cui le consegne della Cadillac CELESTIQ di General Motors che montano il pannello smart glass più grande del settore.
Gli indicatori finanziari chiave includono un margine lordo del 21.4% (vs 27.0% nel Q2 2024), una perdita netta di $10.7 milioni (in miglioramento rispetto alla perdita di $23.1 milioni) e un EBITDA rettificato di ($8.7) milioni. La società ha ottenuto $15 milioni di finanziamento tramite debito da Mizrahi Bank e dispone di una liquidità totale disponibile di $36.2 milioni. Gauzy ha confermato la guidance per il 2025 con ricavi attesi tra $130-140 milioni e un EBITDA rettificato positivo.
Gauzy Ltd. (NASDAQ: GAUZ), líder en tecnologías de visión y control de la luz, informó resultados del segundo trimestre de 2025 con ingresos de $20.1 millones, frente a $24.4 millones en el T2 2024. La compañía alcanzó un récord en el backlog de pedidos por $42.9 millones al cierre del trimestre. A pesar de los ingresos inferiores, Gauzy mantuvo un fuerte impulso comercial con hitos relevantes, entre ellos las entregas de la Cadillac CELESTIQ de General Motors que incorporan el panel de vidrio inteligente más grande del sector.
Los principales indicadores financieros incluyen un margen bruto del 21.4% (vs 27.0% en T2 2024), una pérdida neta de $10.7 millones (mejorada desde una pérdida de $23.1 millones) y un EBITDA ajustado de ($8.7) millones. La compañía aseguró $15 millones en financiamiento de deuda con Mizrahi Bank y mantiene una liquidez total disponible de $36.2 millones. Gauzy reafirmó su guía para 2025: ingresos entre $130-140 millones y EBITDA ajustado positivo.
Gauzy Ltd. (NASDAQ: GAUZ), 시각 빛 제어 기술 분야의 선도기업은 2025년 2분기 실적을 발표하며 매출 $20.1 million을 기록했다고 밝혔습니다(2024년 2분기 $24.4 million). 분기 말 기준 회사는 주문 잔고(백로그) 사상 최대인 $42.9 million을 달성했습니다. 매출은 감소했지만 Gauzy는 업계 최대 스마트 유리 패널을 적용한 General Motors의 Cadillac CELESTIQ 인도 등 눈에 띄는 진전을 통해 강한 사업 모멘텀을 유지했습니다.
핵심 재무 지표로는 매출총이익률 21.4%(vs 27.0% 2024년 2분기), 순손실 $10.7 million(이전 $23.1 million 손실에서 개선) 및 조정 EBITDA ($8.7) million이 있습니다. 회사는 Mizrahi Bank로부터 $15 million의 부채 자금을 확보했으며 총 가용 유동성은 $36.2 million입니다. Gauzy는 2025년 연간 가이던스를 매출 $130-140 million, 조정 EBITDA 흑자로 재확인했습니다.
Gauzy Ltd. (NASDAQ: GAUZ), leader des technologies de vision et de contrôle de la lumière, a publié ses résultats du deuxième trimestre 2025 avec un chiffre d’affaires de $20.1 millions, en baisse par rapport à $24.4 millions au T2 2024. La société a enregistré à la clôture du trimestre un carnet de commandes record de $42.9 millions. Malgré la baisse du chiffre d’affaires, Gauzy a conservé une forte dynamique commerciale, notamment avec les livraisons de la Cadillac CELESTIQ de General Motors équipées du plus grand panneau de verre intelligent du secteur.
Les principaux indicateurs financiers comprennent une marge brute de 21.4% (vs 27.0% au T2 2024), une perte nette de $10.7 millions (améliorée par rapport à une perte de $23.1 millions) et un EBITDA ajusté de ($8.7) millions. La société a obtenu $15 millions de financement par dette auprès de Mizrahi Bank et dispose d’une liquidité totale disponible de $36.2 millions. Gauzy a réaffirmé ses prévisions pour 2025: un chiffre d’affaires de $130-140 millions avec un EBITDA ajusté positif.
Gauzy Ltd. (NASDAQ: GAUZ), ein führendes Unternehmen für Sicht‑ und Lichtsteuerungstechnologien, meldete die Finanzergebnisse für Q2 2025 mit Umsätzen von $20.1 Millionen, gegenüber $24.4 Millionen im Q2 2024. Das Unternehmen erreichte zum Quartalsende einen Rekord-Auftragsbestand von $42.9 Millionen. Trotz geringerer Umsätze behielt Gauzy ein starkes Geschäftstempo bei, unter anderem durch die Auslieferungen der Cadillac CELESTIQ von General Motors, die das größte Smart‑Glass‑Panel der Branche enthalten.
Zentrale Kennzahlen sind ein Bruttomargenanteil von 21.4% (vs. 27.0% im Q2 2024), ein Nettoverlust von $10.7 Millionen (verbessert gegenüber einem Verlust von $23.1 Millionen) und ein bereinigtes EBITDA von ($8.7) Millionen. Das Unternehmen sicherte sich $15 Millionen Fremdfinanzierung von der Mizrahi Bank und verfügt über eine verfügbare Gesamtliquidität von $36.2 Millionen. Gauzy bestätigte die Jahresprognose 2025 von $130–140 Millionen Umsatz mit positivem bereinigtem EBITDA.
Positive
- Record purchase order backlog of $42.9 million, up from $36.2 million year-over-year
- Successfully launched prefabricated Smart Glass Stack product for automotive sector
- Secured $15 million debt financing from Mizrahi Bank
- Expansion into high-margin marine sector with nine marine contracts
- Some customers more than doubled their orders for the year during Q2
- CEO demonstrated confidence by purchasing 210,000 shares during Q2
Negative
- Revenue declined 17.6% to $20.1 million from $24.4 million in Q2 2024
- Gross margin decreased to 21.4% from 27.0% year-over-year
- Adjusted EBITDA loss widened to $8.7 million from $3.9 million
- Operating expenses increased to $16.8 million from $14.5 million
- Total debt stands at $53.0 million with only $1.2 million in cash
Insights
Gauzy posts mixed Q2 results with record $42.9M backlog despite revenue decline to $20.1M and widening EBITDA losses.
Gauzy’s Q2 2025 results reveal significant headwinds with revenue declining 17.6% year-over-year to $20.1 million while adjusted EBITDA losses more than doubled to $8.7 million compared to $3.9 million in Q2 2024. Gross margin contracted substantially from 27.0% to 21.4%, indicating mounting pressure on profitability.
The revenue decline affected multiple segments, particularly Aeronautics, which saw revenue drop by 31.7% and gross margin compress from 37.4% to 23.0%. Management attributes these disappointing results to timing shifts in deliveries rather than fundamental demand issues, but this explanation warrants scrutiny given the magnitude of the decline.
Despite these challenges, there are bright spots. The company achieved a record backlog of $42.9 million in purchase orders, up from $36.2 million year-over-year, suggesting potential revenue acceleration in future quarters. The company also secured $15 million in debt financing from Mizrahi Bank, enhancing its liquidity position, though total debt has increased to $53.0 million.
The company’s cash position remains precarious at just $1.2 million, though it maintains $35 million in undrawn credit facilities. This thin cash cushion could become problematic if anticipated revenue growth in the second half doesn’t materialize as expected.
Looking ahead, management has reaffirmed full-year guidance of $130-140 million in revenue with positive adjusted EBITDA, implying a substantial second-half recovery. To achieve this, Gauzy would need to generate approximately $88-98 million in the remaining two quarters – a dramatic acceleration from the first-half run rate of $84.8 million annualized.
Gauzy’s strategic product launches show innovation potential despite financial challenges, with promising automotive and marine expansions.
Gauzy’s Q2 report highlights strategic product innovations that could position the company for long-term growth despite current financial challenges. The introduction of prefabricated Smart Glass Stacks represents a significant technological advancement designed to accelerate adoption by automotive OEMs and Tier 1 suppliers by reducing integration complexity – a critical barrier to widespread implementation in the automotive sector.
The company’s technology is gaining notable commercial traction with high-profile implementations. General Motors has begun delivering Cadillac CELESTIQ models featuring what Gauzy claims is the industry’s largest smart glass panel utilizing their SPD technology. This premium vehicle placement provides valuable validation of their technology’s performance and reliability in high-end applications.
Gauzy’s market diversification strategy appears well-conceived, with expansion into the marine sector through nine new contracts – a vertical with typically higher margins than their other segments. Meanwhile, their ADAS Smart-Vision technology for buses has secured implementations in major European cities including Manchester and Strasbourg, establishing important reference customers in the transit safety market.
The announcement of new product lines targeting commercial aircraft cabin shading and enhanced ADAS capabilities shows the company is leveraging its core technologies across multiple verticals. The company is also penetrating the commercial architecture space, with prestigious clients like Moderna selecting their LCG® smart glass for corporate headquarters, demonstrating appeal beyond traditional markets.
These product and customer developments create multiple growth vectors that could help address the current financial underperformance if successfully executed. However, the company must overcome significant challenges in translating these opportunities into improved financial results while managing its limited cash resources.
08/13/2025 – 07:22 AM
Record Backlog Purchase Orders of $42.9 Million at Quarter End
Highly Anticipated New Product Lines Announced; Includes Commercial Aircraft Cabin Shading, ADAS Smart Vision for Buses, and Pre-Fabricated Stacks for Smart Glass
New Strategic Customers Secured in Architecture, Aeronautics and Safety Tech
Closed on $15 Million of Debt Financing with Mizrahi Bank, Israel’s Third Largest Bank, Including $5 Million in July
Reaffirms 2025 Guidance
TEL-AVIV, Israel and NEW YORK, Aug. 13, 2025 (GLOBE NEWSWIRE) — Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a global leader of vision and light control technologies, today announced financial results for the second quarter ended June 30, 2025.
Second Quarter 2025 Highlights (Compared to Second Quarter 2024)
- Revenues of $20.1 million, compared to $24.4 million
- Gross margin of 21.4%, compared to 27.0%
- Net loss of $10.7 million compared to a net loss of $23.1 million
- Adjusted EBITDA1 of ($8.7) million compared to ($3.9) million
- Purchase order backlog of $42.9 million compared $36.2
- Total available liquidity of $36.2 million, including cash of $1.2 million and $35.0 million undrawn credit facility at quarter end
Six Months 2025 Highlights (Compared to Six Months 2024)
- Revenues of $42.4 million, compared to $49.1 million
- Gross margin of 23.6%, compared to 26.1%
- Net loss of $21.5 million compared to a net loss of $36.3 million
- Adjusted EBITDA1 of ($14.1) million compared to ($8.7) million
1 Adjusted net loss and Adjusted EBITDA are financial measures that are not required by, or presented in accordance with, U.S. GAAP. Please see Annex A of this release for a reconciliation of Adjusted net loss to net loss and Adjusted EBITDA to net income (loss), the most directly comparable financial measures stated in accordance with GAAP for each of the periods presented.
“We were pleased to see solid momentum with our multi-year contracted backlog of purchase orders growing to a record $42.9 million at quarter end alongside several key business milestones that strengthen our overall competitive position,” commented Eyal Peso, Gauzy Co-Founder and Chief Executive Officer. “Our customer General Motors has begun delivering Cadillacs with the largest ever smart glass panel in a vehicle that uses our SPD technology, marking another milestone in the EV sector. We launched a breakthrough smart glass product, a prefabricated smart glass stack, that will accelerate automotive OEM adoption of dynamic glazing. Additionally, we are expanding into the strategic high margin marine market following successful installation of our technology at the MSC terminal in Miami, and we are supporting commercial spaces for some of the biggest brands in the world, like Moderna.”
“Importantly, we have seen some customers more than double orders for the year during the second quarter, and demand remains strong, however dynamics in the timing of our shipments are reflected in our results,” Peso continued. “In light of that, we expect our full year results to be heavily weighted towards the second half.”
Peso concluded, “We have a stronger balance sheet and record backlog that put us on firm footing into the second half. We are reaffirming our full year guidance, reflecting our confidence in our ability to execute on the substantial opportunities ahead. My conviction in Gauzy’s strategic direction and growth remains as strong as ever, as evidenced by the significant purchase of shares I made during the quarter. We look forward to delivering on our goals and creating exceptional shareholder value.”
Top Business Milestones and Accomplishments Since Last Earnings Release
- First customer deliveries of General Motors’ Cadillac CELESTIQ with industry’s largest Smart Glass panel with Gauzy SPD
- Launched its prefabricated Smart Glass Stack, accelerating automotive smart glazing Adoption by Tier 1s and OEMs
- Expansion into strategic, high margin marine sector including nine marine contracts to date
- New major cities equipped with Smart-Vision ADAS on bus fleets now include Manchester, U.K. and Strasbourg, France
- Major companies like Moderna choose Gauzy LCG® smart glass for commercial spaces and company headquarters
- New products to be launched and revealed include AI-Powered ADAS Smart-Vision for Buses, and commercial cabin shading in Aeronautics
- CEO purchased 210,000 shares during second quarter as previously announced
Second Quarter 2025 Results: Gauzy Navigates Revenue Dip, Banks on Record Backlog and Strategic Expansion
Gauzy, Ltd. (GAUZ), a leader in smart glass technology, is betting on a strong second-half surge to meet its ambitious 2025 targets, despite a mixed Q2 performance. The Tel Aviv-based firm, known for its vision and light control technologies, reported revenues of $20.1 million, a 17.6% dip compared to the $24.4 million in Q2 2024. This decline, however, is partially offset by a record purchase order backlog reaching $42.9 million, signaling future revenue potential.
By the Numbers: Key Financial Highlights
- Revenue: $20.1 million (down 17.6% YoY)
- Gross Margin: 21.4% (versus 27.0% in Q2 2024)
- Net Loss: $10.7 million (improved from $23.1 million loss)
- Adjusted EBITDA: ($8.7) million
- Backlog: $42.9 million (record)
- Liquidity: $36.2 million
While the revenue decline and a widened Adjusted EBITDA loss ($8.7 million versus $3.9 million) raise concerns, Gauzy management emphasized that shipment timing dynamics, rather than demand weakness, are the primary culprit. CEO Eyal Peso remains optimistic, highlighting that some customers more than doubled their orders during the quarter. “We expect our full-year results to be heavily weighted towards the second half,” Peso stated, reaffirming the company’s revenue guidance of $130-140 million for 2025 and a positive Adjusted EBITDA.
Cadillac’s Smart Move: A Showcase for Gauzy’s Tech
One of the quarter’s bright spots is the implementation of Gauzy’s smart glass technology in General Motors’ Cadillac CELESTIQ. The CELESTIQ features what Gauzy touts as the industry’s largest smart glass panel, utilizing their Suspended Particle Device (SPD) technology. This high-profile deployment validates Gauge’s tech capabilities, potentially opening doors for wider adoption in the automotive sector.
Strategic Shifts: Marine Market and New Product Lines
Gauzy is actively diversifying its revenue streams, with a strategic push into the high-margin marine sector. The company secured nine marine contracts to date, signaling a growing presence in this lucrative market. Furthermore, Gauzy is expanding its product portfolio with new lines targeting commercial aircraft cabin shading and AI-powered ADAS Smart-Vision for buses, demonstrating its commitment to innovation and market diversification.
Balance Sheet Bolstering: Debt Financing Secured
To shore up its financial position, Gauzy secured $15 million in debt financing from Mizrahi Bank, Israel’s third-largest bank. This infusion, coupled with an undrawn $35 million credit facility, provides a liquidity cushion to support ongoing operations and growth initiatives. However, total debt stands at $53.0 million, warranting close monitoring.
Segment Performance
(U.S. dollars in thousands)
| Second Quarter 2025 | |||||||||||||||||||
| Aeronautics | Architecture | Automotive | Safety tech | Total | |||||||||||||||
| Revenues from external customers | $ | 6,862 | $ | 2,489 | $ | 1,406 | $ | 9,297 | $ | 20,054 | |||||||||
| Gross pro
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