Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 43

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 5
Chunk 43
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 architectural market, we serve all major segments including commercial, retail, residential, healthcare and hospitality for both
interior and exterior applications. In the commercial vehicle segment, we are a Tier 1 supplier and one of the market leaders in vision
control technologies, including CMS and ADAS systems for the truck, bus and coach market.

We are strategically located
in close proximity to our customers. This geographic competitive advantage deepens local customer relationships, enhances commercial innovation,
optimizes customer support, shortens supply chains and enables us to deliver our technologies quickly and efficiently around the world.
As a result, the typical customer contract length is 15 to over 30 years for customers in our aeronautics segment, approximately eight
years for customers in our automotive segment and five to ten years for customers in our safety tech segment. We operate production facilities
in Israel, France, Germany and the United States, with sales, marketing and fulfilment centers in 15 locations throughout the globe.
We sell our products in over 60 countries through both direct fulfilment and a network of over 100 expertly trained and certified distribution
channels.

We serve a broad range of
end-markets and geographies, enabling us to benefit from a diversified base of revenues. In 2024, we generated approximately 28.3% of
our revenue in the United States, 29.0% in Europe (excluding France), 25.6% in France, 1.3% in Israel, and 11.8% in Asia, with the remaining
4.0% generated in other countries across the world. In the same period, we generated approximately 40.0% of our revenue in the aerospace
market, 44.1% in safety tech and commercial vehicle market 12.7% in the architectural market and 3.2% in the automotive market. We also
enjoy a diverse customer base, with no single customer representing more than 9.3% of our revenue for the year ended December 31, 2024.

For
more information regarding our business and operations, see“ Item 4. Information on the Company”.

Business Combination

On January 26, 2022,
the Business Combination closed and we became the sole shareholder of Vision Lite. The consideration for the Business Combination consisted
of $23.7 million (€21.0 million) in cash, the repayment of Vision Lite’s loans in an amount of approximately $12.9 million
(€11.4