Gauzy Ltd. adds Second Production Shift in Europe to Meet Strong Global Demand; Releases Preliminary Third Quarter Revenue Range and Provides Fourth Quarter Guidance
Gauzy (NASDAQ: GAUZ) has expanded production capacity by adding a second shift at its Lyon, France facility to meet strong global demand. The company expects Q3 2024 revenues between $23.0-23.5 million, up approximately 24% from Q3 2023's $18.7 million. Q4 2024 guidance projects revenues of $28-34 million, representing roughly 41% growth from Q4 2023's $22.0 million.
The company reports that $4 million of initially scheduled Q3 shipments in the Aeronautics segment will be delivered in Q4, with the remainder in 2025. Recent developments include partnerships with Ferrari and the Capital District Transportation Authority of New York, along with the launch of next-generation AI-powered ADAS for commercial trucks.
Gauzy (NASDAQ: GAUZ) ha ampliato la capacità produttiva aggiungendo un secondo turno presso il suo stabilimento a Lione, Francia, per soddisfare la forte domanda globale. L'azienda prevede entrate per il Q3 2024 tra 23,0 e 23,5 milioni di dollari, con un aumento di circa il 24% rispetto ai 18,7 milioni di dollari del Q3 2023. Le previsioni per il Q4 2024 stimano entrate tra 28 e 34 milioni di dollari, che rappresentano una crescita di circa il 41% rispetto ai 22,0 milioni di dollari del Q4 2023.
L'azienda segnala che 4 milioni di dollari di spedizioni inizialmente programmate per il Q3 nel segmento Aeronautica saranno consegnate nel Q4, mentre il resto sarà nel 2025. Gli sviluppi recenti includono partnership con Ferrari e l'Autorità dei Trasporti del Distretto della Capitale di New York, insieme al lancio di ADAS di nuova generazione alimentati da intelligenza artificiale per camion commerciali.
Gauzy (NASDAQ: GAUZ) ha ampliado su capacidad de producción añadiendo un segundo turno en su instalación de Lyon, Francia, para satisfacer la fuerte demanda global. La empresa espera ingresos para el Q3 2024 entre 23,0 y 23,5 millones de dólares, lo que representa un aumento de aproximadamente el 24% respecto a los 18,7 millones de dólares del Q3 2023. Las proyecciones para el Q4 2024 estiman ingresos de entre 28 y 34 millones de dólares, lo que representa un crecimiento de aproximadamente el 41% respecto a los 22,0 millones de dólares del Q4 2023.
La empresa informa que 4 millones de dólares de envíos inicialmente programados para el Q3 en el segmento de Aeronáutica se entregarán en el Q4, mientras que el resto será en 2025. Los desarrollos recientes incluyen asociaciones con Ferrari y la Autoridad de Transporte del Distrito Capital de Nueva York, junto con el lanzamiento de ADAS de próxima generación con inteligencia artificial para camiones comerciales.
Gauzy (NASDAQ: GAUZ)는 프랑스 리옹에 있는 시설에서 두 번째 교대를 추가하여 생산 능력을 확장하여 강력한 글로벌 수요에 대응하고 있습니다. 이 회사는 2024년 3분기 수익이 2,300만에서 2,350만 달러 사이에 이를 것으로 기대하며, 이는 2023년 3분기의 1,870만 달러에서 약 24% 증가한 수치입니다. 2024년 4분기 가이던스는 2,800만에서 3,400만 달러의 수익을 예상하며, 이는 2023년 4분기의 2,200만 달러에서 약 41% 성장한 것입니다.
회사는 항공 부문에서 3분기 초기 예정된 400만 달러의 출하물 중 일부가 4분기에 배송될 것이며, 나머지는 2025년에 배송될 것이라고 보고하고 있습니다. 최근 발전사항으로는 페라리와 뉴욕 수도권 교통청과의 파트너십과 상업용 트럭을 위한 차세대 AI 기반 ADAS의 출시에 대한 소식이 포함됩니다.
Gauzy (NASDAQ: GAUZ) a élargi sa capacité de production en ajoutant un deuxième poste à son usine de Lyon, en France, pour répondre à la forte demande mondiale. L'entreprise prévoit des revenus pour le Q3 2024 compris entre 23,0 et 23,5 millions de dollars, soit une augmentation d'environ 24 % par rapport aux 18,7 millions de dollars du Q3 2023. Les prévisions pour le Q4 2024 projettent des revenus de 28 à 34 millions de dollars, représentant environ 41 % de croissance par rapport aux 22,0 millions de dollars du Q4 2023.
L'entreprise indique que 4 millions de dollars de livraisons initialement prévues pour le Q3 dans le segment aéronautique seront livrées au Q4, le reste étant pour 2025. Parmi les développements récents figurent des partenariats avec Ferrari et l'Autorité des Transports du District de la Capitale de New York, ainsi que le lancement de la prochaine génération de systèmes ADAS alimentés par IA pour les camions commerciaux.
Gauzy (NASDAQ: GAUZ) hat die Produktionskapazität erhöht, indem ein zweiter Schichtbetrieb in seiner Anlage in Lyon, Frankreich, hinzugefügt wurde, um der starken globalen Nachfrage gerecht zu werden. Das Unternehmen erwartet Einnahmen für das Q3 2024 in Höhe von 23,0 bis 23,5 Millionen US-Dollar, was einem Anstieg von etwa 24 % gegenüber den 18,7 Millionen US-Dollar im Q3 2023 entspricht. Die Prognose für das Q4 2024 projiziert Einnahmen zwischen 28 und 34 Millionen US-Dollar, was einem Wachstum von etwa 41 % gegenüber den 22,0 Millionen US-Dollar im Q4 2023 entspricht.
Das Unternehmen berichtet, dass von den ursprünglich im Q3 verplanten Lieferungen im Luftfahrtsegment 4 Millionen US-Dollar im Q4 geliefert werden, der Rest jedoch im Jahr 2025. Zu den aktuellen Entwicklungen gehören Partnerschaften mit Ferrari und der Capital District Transportation Authority von New York sowie die Einführung von AI-gestütztem ADAS der nächsten Generation für Nutzfahrzeuge.
- Q3 2024 revenue expected to grow 24% YoY to $23.0-23.5 million
- Q4 2024 guidance projects 41% YoY growth to $28-34 million
- Production capacity expansion with second shift addition in Lyon facility
- Growing backlog indicating strong product demand
- New partnerships with Ferrari and NY Transportation Authority
- Production capacity constraints affecting Q3 shipment timing
- $4 million in Q3 shipments delayed to Q4 and 2025
Insights
The preliminary Q3 2024 revenue range of
Key positives include diversification of the customer base with notable wins (Ferrari, NY Transportation Authority) and technological advancement in AI-powered ADAS. The production constraints, while causing short-term delivery delays, actually demonstrate strong market demand rather than operational inefficiency. The planned capacity expansion should help capture this growing demand more effectively in 2025.
Company Reaches Agreement with Workers’ Union to Expand Production Output Through Addition of Second Shift at Lyon, France Facility
TEL AVIV, Israel, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a global leader in vision and light control solutions, today announced that it has added a second production shift at its facility in Lyon, France to expand its overall capacity and meet continued strong demand. The Company is also providing preliminary unaudited revenue ranges for its third quarter ended September 30, 2024 and revenue guidance for its fourth quarter ended December 31, 2024.
Third quarter 2024 revenues are expected to be in a range of
“Strong demand for our cutting-edge vision and light control technologies continued in the third quarter,” commented Eyal Peso, Gauzy Co-Founder and Chief Executive Officer. “The timing of shipments to meet the demand in our Aeronautics segment was limited by our production capacity, particularly in Europe, which we have expanded by agreeing with our workers’ union to add a second shift going forward. We expect approximately
Mr. Peso continued, “We continue to expand our customer base and technological offerings, as evidenced by our recent announcements regarding Ferrari, the Capital District Transportation Authority of New York, and our next generation AI-powered ADAS for commercial trucks. We are highly excited for the future and the progress we are making to deliver superior results and shareholder value.”
The preliminary unaudited results described in this press release are estimates and subject to revision until Gauzy reports its full financial results for the third quarter and nine month periods on November 12, 2024, and for the fourth quarter ended December 31, 2024.
Third Quarter 2024 Earnings Release and Conference Call
Gauzy today announced it will release financial results for the third quarter ended September 30, 2024 before the market opens on Tuesday, November 12, 2024. Management will host a webcast and conference call that same day at 8:30 a.m. EDT to review results.
To participate in the conference call, dial U.S. Toll Free (800) 717-1738 and request to be connected to the Gauzy Ltd. earnings conference call. International callers should dial (646) 307-1865 and request to be connected to the same call. Investors may also listen to the call via the "Investors" section of Gauzy’s website at www.gauzy.com.
An audio replay of the conference call will be available for approximately one week. To access the audio replay, dial U.S. Toll Free (844) 512-2921; International Toll (412) 317-6671 and request to be connected to replay using access code 1121939.
About Gauzy
Gauzy Ltd. is a fully-integrated light and vision control company, focused on the research, development, manufacturing, and marketing of vision and light control technologies that are developed to support safe, sustainable, comfortable, and agile user experiences across various industries. Headquartered in Tel Aviv, Israel, the company has additional subsidiaries and entities based in Germany, France, the United States, Canada, China, Singapore, and Dubai. Gauzy serves leading brands in over 30 countries through direct fulfillment and a certified and trained distribution channel.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements contained in this press release include, but are not limited to, statements regarding Gauzy’s strategic and business plans, technology, relationships, objectives and expectations for its business, growth, the impact of trends on and interest in its business, intellectual property, products and its future results, operations and financial performance and condition and may be identified by the use of words such as “may,” “seek,” “will,” “consider,” “likely,” “assume,” “estimate,” “expect,” “anticipate,” “intend,” “believe,” “do not believe,” “aim,” “predict,” “plan,” “project,” “continue,” “potential,” “guidance,” “objective,” “outlook,” “trends,” “future,” “could,” “would,” “should,” “target,” “on track” or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. In particular, forward-looking statements in this press release include its anticipated revenues for the quarters ended September 30, 2024 and December 31, 2024, as well as its expectations regarding the timing of the delivery of its shipments and the expanded backlog. All statements other than statements of historical fact are forward-looking statements. Forward-looking statements reflect Gauzy’s current views, plans, or expectations with respect to future events and financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Gauzy’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict including, without limitation, the following: Gauzy invests significant effort and capital seeking validation of its light and vision control products with OEMs and Tier 1 suppliers, mainly in the aeronautics and automobile markets, and there can be no assurance that it will win production models, which could adversely affect its future business, results of operations and financial condition; failure to make competitive technological advances will put Gauzy at a disadvantage and may lead to a negative operational and financial outcome; Gauzy being an early growth-stage company with a history of losses and its anticipation that it expects to continue to incur significant losses for the foreseeable future; its operating results and financial condition have fluctuated in the past and may fluctuate in the future; it is exposed to high repair and replacement costs; it may not be able to accurately estimate the future supply and demand for its light and vision control products, which could result in a variety of inefficiencies in its business and hinder its ability to generate revenue; if it fails to accurately predict its manufacturing requirements, it could incur additional costs or experience delays; the estimates and forecasts of market opportunity and market growth it provides may prove to be inaccurate, and it cannot assure that its business will grow at similar rates, or at all; it may be unable to adequately control the capital expenditures and costs associated with its business and operations; it may need to raise additional capital before it can expect to become profitable from sales of its light and vision control products, which such additional capital may not be available on acceptable terms, or at all, and failure to obtain this necessary capital when needed may force it to delay, limit or terminate its product development efforts or other operations; shortages in supply, price increases or deviations in the quality of the raw materials used to manufacture its products could adversely affect its sales and operating results; its business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing conflict between Russia and Ukraine; it is subject to, and must remain in compliance with, numerous laws and governmental regulations across various countries concerning the manufacturing, use, distribution and sale of its light and vision control products, and some of its customers also require that it complies with other unique requirements relating to these matters; if it is unable to obtain, maintain and protect effective intellectual property rights for its products throughout the world, it may not be able to compete effectively in the markets in which it operates; the market price of its ordinary shares may be volatile or may decline steeply or suddenly regardless of its operating performance, and it may not be able to meet investor or analyst expectations; its indebtedness could adversely affect its ability to raise additional capital to fund operations, limit its ability to react to changes in the economy or its industry and prevent it from meeting its financial obligations; it has limited operating experience as a publicly traded company in the United States; conditions in Israel could materially and adversely affect its business; and any other risks and uncertainties, including, but not limited to, the risks and uncertainties in the Company’s reports filed from time to time with the SEC, including, but not limited to, the risks detailed in the Company’s prospectus (Registration No. 333-278675), dated June 5, 2024 and filed with the SEC. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Gauzy or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Gauzy undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law.
Contacts
Media:
Brittany Kleiman Swisa
Gauzy Ltd.
press@gauzy.com
Investors:
Dan Scott, ICR Inc.
ir@gauzy.com
FAQ
What is Gauzy's (GAUZ) expected revenue for Q3 2024?
What is Gauzy's (GAUZ) revenue guidance for Q4 2024?
Why did Gauzy (GAUZ) add a second production shift in Lyon, France?
When will Gauzy (GAUZ) release its Q3 2024 earnings?
