Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 173

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 173
---
 except share and per
share amounts)

NOTE 7 - PROPERTY AND EQUIPMENT:

Composition of property and equipment,
grouped by major classifications, is as follows:

                                                                   December 31                                    
                                                                   2024                         2023              
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Cost:                                                                                                           
  Computers and electronic equipment                               $                   876      $            404  
  Office furniture, and equipment                                                      514                   426  
  Laboratory equipment                                                               1,973                 1,937  
  Leasehold improvements                                                             4,733                 4,276  
  Product line, Industrial fixtures, equipment and tooling                          11,696                 8,301  
  Demonstration equipment                                                           11,760                     -  
  Assets under construction – product line and demonstrations                        2,722                 9,210  
  Vehicles                                                                              41                     -  
                                                                   $                34,315      $         24,554  
  Less:                                                                                                           
  Accumulated depreciation                                         $                 6,854      $          4,024  
  Property and equipment, net                                      $                27,461      $         20,530  

Depreciation expenses were $3,293and
$2,509in the years ended December 31, 2024 and 2023, respectively.

NOTE 8 - INTANGIBLE ASSETS:

  Identified intangible assets  

Intangible assets consisted of the following:

                                                                December 31, 2024                                                                                     
                                          Cost                  Accumulated amortization                    Currency translation adjustment                           
  Exclusivity right                       $            951      $                                ( 951      $                                    -                 -  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Technology                                         9,500                                     ( 5,329                                           ( 582         3,589  
  Customer relationships                            16,300                                     ( 3,051                                           ( 1,168      12,081  
  IP*                                                4,500                                       ( 852                                           -             3,648  
  Total identified intangible assets      $         31,251      $                             ( 10,183      $                                    ( 1,750      19,318  

F-26

GAUZY LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(U. S. dollars in