Gauzy Ltd. Announces Preliminary Revenue Ranges, Demonstrating Strong Double-Digit Growth for the Second Quarter and First Half 2024 that Exceeded Expectations
15 Julio 2024 - 8:11AM
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.
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. In
particular, statements using 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. All statements other than statements
of historical fact are forward-looking statements, including
statements relating to Gauzy’s estimated ranges of net revenue for
the second quarter and first half ended June 30, 2024 and the
progress it is making to fully deliver against its plan for 2024
and beyond. 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. Further,
certain forward-looking statements are based on assumptions as to
future events that may not prove to be accurate. For a more
detailed description of the risks and uncertainties affecting the
Company, reference is made to 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. 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 / Rodny Nacier, ICR Inc. ir@gauzy.com
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