Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 44

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 5
Chunk 44
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 million) and contingent consideration of up to $5.6 million (€5.0 million), contingent on the future
revenues of Vision Lite. The Vision Lite SPA also contained certain earn out provisions which required us to pay certain amounts to the
Sellers upon the occurrence of certain events, such as meeting annual revenue targets. We paid a total of $4.64 million in earn out payments
to the Sellers pursuant to the earn out provisions, which was paid in full by July 2024.

Key Factors Affecting Our Performance

Driving customer adoptionThe
adoption of light and vision control technologies is still in its early stages with significant runway for further penetration, and as
a market leader, we believe that are well positioned to capitalize on the accelerating demand and market adoption by leveraging our best-in-class
technologies and recent capacity expansions.

Acquiring new customersWe
are a key partner to our large and diversified customer base consisting of glass fabricators, film processors, automobile and aircraft
OEMs, airlines and municipalities, among others. As part of our unique business model, we enable the glass industry to manufacture its
own smart glass by providing fabricators with materials and technologies to manufacture locally. We manage a large network of glass fabricators
worldwide, allowing us to support and grow with our end customers on a global basis and we intend to expand our network to capture further
demand and market share over time. We plan to continue to sign new partnerships and win contracts with OEMs and suppliers as they expand
their own product lines across the mobility and architecture markets and look for innovative technologies to differentiate their products.
While we plan to build on our leadership in CMS technologies for the truck, bus and coach market, we are also focused on expanding our
ADAS offering for commercial vehicles and believe we have a substantial opportunity with those customers given our ability to adapt our
technologies to cater to the additional complexity that such vehicles require. Moreover, we plan to build on our dominant position amongst
aircraft OEMs and completion centers to grow our network of airline customers, given the increasing flexibility of airlines to exert
more influence on cabin design decision-making.

Expanding our product
portfolio and marketWe embrace an entrepreneurial, R& D-centric mindset supported by our well-invested manufacturing
platform and dedicated team with significant expertise in material science, mechatronics, image analysis and advanced manufacturing.
We will continue to leverage these resources and capitalize on market and customer insights to expand our use cases through new innovative
products and