Gauzy (GAUZ) Announces Preliminary Revenue Ranges

Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a global leader in vision and light control solutions, today provided preliminary unaudited revenue ranges for its second quarter and first half ended June 30, 2024.

Second quarter 2024 revenues are expected to be in a range of $24.0 million to $24.5 million compared to $19.9 million in the prior year quarter. First half 2024 revenues are expected to be in a range of $48.7 million to $49.2 million, compared to $37.4 million in the prior year period. These revenue ranges equate to approximately 22% and 31% growth for the second quarter and first half of 2024 at the respective midpoints.

“Our exceptional start to 2024 extended into the second quarter with revenue that is expected to exceed expectations,” commented Eyal Peso, Gauzy Co-Founder and Chief Executive Officer. “As expected, the robust pace of revenue growth in the first half is driven by a number of key customers that accelerated a portion of their full-year purchasing commitments to earlier in the year to meet robust demand. We believe we are poised to produce strong double-digit revenue expansion in the second quarter.”

Mr. Peso continued, “Since our IPO, we continue to be laser focused on executing against our goals. We are seeing OEMs expand utilization of our smart glass technologies, major cities replacing mirrors on their bus fleets with our ADAS and CMS systems, and our products being incorporated into iconic new commercial and hospitality projects. We are highly excited for the future and the progress we are making to fully deliver against our plan for 2024 and beyond.”

The preliminary unaudited results described in this press release are estimates and subject to revision until Gauzy reports its full financial results for the second quarter and first half ended June 30, 2024, which is anticipated to be in August 2024.

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