Gauzy Ltd. is a Tel Aviv–headquartered technology company focused on controlling light and vision for real-world environments. Founded in 2009, Gauzy develops, manufactures, and supplies advanced solutions that translate into practical end-user benefits such as improved comfort, privacy, energy management (through controllable shading), and enhanced safety through sensor- and camera-assisted ...Gauzy Ltd. is a Tel Aviv–headquartered technology company focused on controlling light and vision for real-world environments. Founded in 2009, Gauzy develops, manufactures, and supplies advanced solutions that translate into practical end-user benefits such as improved comfort, privacy, energy management (through controllable shading), and enhanced safety through sensor- and camera-assisted capabilities. The company operates through four main business segments: Architecture, Automotive, Safety Technology, and Aeronautics.
In Architecture, Gauzy’s product direction centers on smart glass applications for commercial and residential spaces. The company’s offerings include advanced switchable or controllable glazing approaches, such as suspended particle device (SPD) and liquid crystal (LC) films. These materials are used to enable dynamic changes in light transmission—supporting use cases like privacy on demand, glare reduction, and ambient-light management across settings that include retail, healthcare, hospitality, and residential facilities.
In Automotive, Gauzy supplies glass components and vehicle-related modules, including elements such as rooftops, side windows, and windshields for commercial and specialized vehicles. The company also contributes to sensor- and camera-oriented systems. In addition, it provides solutions for vehicle safety and visibility needs, including camera and motion sensor systems and smart mirrors.
The Safety Technology segment extends Gauzy’s focus into advanced driver assistance systems (ADAS), including camera monitoring systems. The positioning emphasizes AI-powered or intelligence-enabled solutions intended to support driving awareness and safety functions.
In Aeronautics, Gauzy supports cabin management and shading needs for aircraft and helicopters, offering systems designed to manage interior cabin conditions. Overall, Gauzy’s technology stack is closely tied to manufacturing and supply execution of specialized films and integrated components, rather than only software.
From a business perspective, Gauzy participates in capital-intensive, engineering-heavy markets where product qualification cycles, regulatory/safety standards, and integration requirements can matter. Its public disclosures indicate an IPO in 2024 and ongoing growth initiatives, while operating performance signals can include profitability pressure typical for hardware and technology businesses transitioning across scale and market adoption stages. On key people, Eyal Peso—co-founder and Chief Executive Officer—has been highlighted in company communications and leadership updates. For stakeholders, the “wish list” implied by these activities generally includes continued scaling of manufacturing capacity, deepening customer adoption across architecture and vehicle platforms, strengthening safety/ADAS traction, and sustaining product differentiation in switchable smart-glass and integrated light/vision control systems.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$103.5M
+32.8%
-10.3%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-53.2M
+32.9%
+0.4%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+28.7%
+37.6%
-16.6%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-29.7%
+25.8%
-60.5%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-51.4%
+49.5%
-11.1%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-43.5M
-4.8%
-129.4%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-42.0%
+21.1%
-155.9%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
100.1%
+149.2%
+192.4%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
0.96x
+34.3%
-19.2%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Good morning and welcome to Gauzy Limited First Quarter 2025 Earnings Conference Call. Today's call is being recorded and we have allocated one hour for prepared remarks and Q&A. At this time, I would like to turn the conference over to Dan Scott, Investor Relations. Thank you. You may begin.
Daniel Scott: Thank you, Operator, and thank you, everyone, for joining us today. Hosting the call today are Gauzy's CEO and Co-Founder, Eyal Peso, and Chief Financial Officer, Meir Peleg. On this call, management will be making forward-looking statements, not historical facts, which are based on management's current expectations, beliefs, projections and assumptions, many of which, by their nature, are inherently uncertain. These forward-looking statements are subject to risks and uncertainties. Actual results could differ materially from our forward-looking statements if any of our key expectations, beliefs, projections, or assumptions are incorrect because of other factors discussed in today's earnings news release and the comments made during this conference call or in our latest report and filings with the Securities and Exchange Commission, each of which can be found on our website, www.gauzy.com. We do not undertake any duty to update any forward-looking statements. This call contains time-sensitive information that is accurate only as of today, May 13, 2025. Except as required by law, Gauzy disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call. Today's presentation also includes references to non-GAAP financial measures. You should refer to the information contained in the company's first quarter press release for definitional information and reconciliations of historical non-GAAP measures to the comparable financial measures. With that, let me turn the call over to Eyal.
Eyal Peso: Thank you very much, Dan, and good morning, everyone. Thank you for joining us today as we discuss our first quarter 2025 results. For today's call, I'd like you to focus on three key takeaways. First, our solid first quarter performance in the face of global uncertainty for our customers, which underscores the strength of our business model and the growing demand for our technologies. Second, the significant business milestones we've achieved during the quarter and subsequent to its end that will drive our growth in 2025 and beyond. Third, we have signed the first $10 million out of a previously announced $20 million planned debt financing under significantly more favorable terms as compared to our borrowings as a private company. And finally, our reaffirmed 2025 guidance supported by a strong backlog of purchase orders and enhanced balance sheets. We delivered a solid start to the year despite a two to three-week period in March 2025 of market uncertainty as customers attempted to assess tariff impacts and risks. Revenue growth in the automotive and Safety Tech divisions was offset …
