Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 50

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 5
Chunk 50
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 marketing expenses (exclusive of depreciation and amortization reflected below)                   16,134       15,302  
  Depreciation and amortization                                                                                4,608        3,664  
  Other expenses (income)                                                                                        (23          747  
  Operating loss                                                                                              30,762       31,994  
  Financial expenses, net                                                                                     22,314       47,122  
  Other expenses (income)                                                                                         44          (32  
  Loss before income tax                                                                                      53,120       79,084  
  Income tax                                                                                                      62          183  
  Net Loss                                                                                                   $53,182      $79,267  

Revenues

Revenues increased by approximately $25.5 million,
or 32.8%, to $103.5 million for the year ended December 31, 2024, compared to $78.0 million for the year ended December 31, 2023. The
significant increase resulted mainly from an increase of $7.6 million in the aeronautics segment, $15.9 million in the safety-tech segment
and $1.5 million in the automotive segment. The increase is due to an increase in volume of sales from existing and new customer accounts.

Revenues by Operating Segment

Aeronautics

Revenues in our aeronautics
segment increased by approximately $7.6million, or 22.3%, to $41.4million for the year ended December 31, 2024, compared to $33.8 million for the year ended December 31, 2023. The increase resulted
mainly from the strong demand in several family products, which led to increased sales.

Architecture

Revenues in our architecture
segment increased by approximately $0.6million, or 4.4%, to $13.2million for the year ended December 31, 2024, compared to $12.6 million for the year ended December 31, 2023. The increase resulted
mainly from the timing of deliveries.

Automotive

Revenues in our automotive
segment increased by approximately $1.5million, or 81.6%, to $3.3million for the year ended December 31, 2024, compared to $1.8 million for the year ended December 31, 2023. The increase resulted
mainly from full year serial production compared to six months of serial production in