Q2 2025 Gauzy Ltd Earnings Call Transcript
Key Points
- Gauzy Ltd (GAUZ) reported a significant sequential increase in their backlog of orders, confirming strong customer demand for their technology.
- The company closed on $15 million of debt financing under favorable terms to strengthen their balance sheet.
- Gauzy Ltd (GAUZ) achieved a major milestone with the first customer delivery of General Motors' Cadillacs CELESTIQ, featuring the industry's largest piece of dimmable smart glass.
- The company launched a breakthrough prefabricated smart glass stack, a turnkey solution that accelerates OEM adoption of dynamic glazing in the automotive market.
- Gauzy Ltd (GAUZ) is expanding into the marine sector, securing 9 programs in the maritime section, validating demand in this higher-margin segment.
- The company experienced supply chain and operating disruptions due to a conflict with Iran, causing shipping delays into the second half of 2025.
- Gauzy Ltd (GAUZ) reported lower revenues compared to Q2 of 2024, attributed to timing issues rather than a decline in demand.
- Gross margin decreased to 21.4% from 27% in the prior year period, primarily due to dynamics within the Aeronautics division.
- Total operational expenses increased to $16.8 million from $14.5 million in the prior year quarter, driven by higher corporate expenses and R&D costs.
- Adjusted EBITDA was negative $8.7 million compared to negative $3.9 million in the prior year quarter, reflecting challenges in achieving profitability.
Good morning, ladies and gentlemen, and welcome to the Gauzy second-quarter 2025 earnings call conference. (Operator Instructions) This call is being recorded on Wednesday, August 13, 2025.
I would now like to turn the conference over to Dan Scott. Please go ahead.
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 CFO, 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, which 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 in the comments made during this conference call or in
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