Gauzy Ltd. Announces Strong Second Quarter 2024 Results
Gauzy Ltd. - Ordinary Shares (GAUZ)
Company Research
Source: GlobeNewswire
Delivers Revenues at Higher End of Previously Announced Expectations Aeronautics, Safety Tech and Automotive Demand Drove Strong Double-Digit Growth Robust Year-to-Date Results and Solid Customer Order Book Reinforce Encouraging Growth Outlook TEL AVIV, Israel, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Gauzy Ltd. (Nasdaq: GAUZ) (“Gauzy” or the “Company”), a global leader of vision and light control technologies, today announced financial results for the second quarter and first half ended June 30, 2024. Second Quarter 2024 Highlights (Compared to Second Quarter 2023) Revenues of $24.4 million increased 22.4% compared to $19.9 millionGross margin of 27.0% improved 680 basis points compared to 20.2%Net loss of $23.1 million compared to a net loss of $18.8 millionNon-GAAP Adjusted net loss of $7.8 million compared to an adjusted net loss of $8.9 millionStrengthened balance sheet with $63.7 million of cash and equivalents at quarter endCompleted initial public offering in June 2024 and beg
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