Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 168

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 168
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 under the Jumpstart Our Business Startups Act (the “ JOBS Act”).
Using exemptions provided under the JOBS Act for EGCs, the Company has elected to defer compliance with new or revised ASUs until it is
required to comply with such updates, which is generally consistent with the adoption dates of private companies.

Recently Adopted accounting pronouncements

In November 2023,
the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, This guidance expands
public entities’ segment disclosures primarily by requiring disclosure of significant segment expenses that are regularly provided
to the chief operating decision maker and included within each reported measure of segment profit or loss, an amount and description of
its composition for other segment items, and interim disclosures of a reportable segment’s profit or loss and assets. The amendments
are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December
15, 2024. The Company adopted this ASU in 2024 (See Note 4). The amendments were applied retrospectively to all prior periods presented
in the financial statements.

F-20

GAUZY LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

(U. S. dollars in thousands, except share and per
share amounts)

NOTE 2 - SIGNIFICANT ACCOUNTING POLICIES(continued):

Recent Accounting Guidance Issued:

  In June 2022, the FASB issued ASC 2022-03 “ Fair Value Measurement of Equity Securities Subject to                                           
  Contractual Sale Restrictions”. The ASU clarifies that a contractual restriction on the sale of an equity security is not considered         
  part of the unit of account of the equity security and, therefore, is not considered in measuring its fair value. The ASU also clarifies     
  that an entity cannot, as a separate unit of account, recognize and measure a contractual sale restriction. The ASU also introduces new      
  disclosure requirements for equity securities subject to contractual sale restrictions. As an Emerging Growth Company, the ASU is effective  
  for fiscal years beginning after December 15, 2024, and interim periods within those fiscal years. Early adoption is permitted for both      
  interim and annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating    
  the effect that ASU 2022-03 will have on its consolidated financial