Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 174

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 174
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 thousands, except share and per
share amounts)

NOTE 8 - INTANGIBLE ASSETS(continued):

                                                                December 31, 2023                                                       
                                          Cost                  Accumulated                         Currency                            
                                                                amortization                        translation                         
                                                                                                    adjustment                          
  Exclusivity right                       $            951      $                        ( 951      $                -               -  
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Technology                                         9,500                             ( 3,487                       ( 315       5,698  
  Customer relationships                            16,300                             ( 1,994                       ( 389      13,917  
  IP*                                                4,500                               ( 208                       -           4,292  
  Total identified intangible assets      $         31,251      $                      ( 6,640      $                ( 704      23,907  

  (*)      On February 28, 2023, the Company entered into a Patent Assignment                                                                           

Amortization expenses recorded for identified
intangible assets in the Consolidated Statements of Operations for each period and were as follows:

                                   For the year ended                                  
                                   December 31,                                        
                                   2024                               2023             
  Exclusivity right                $                           -      $            99  
 ───────────────────────────────────────────────────────────────────────────────────────
  Technology                                               1,842                1,842  
  Customer relationships                                   1,057                1,053  
  IP*                                                        644                  208  
  Total amortization expenses      $                       3,543      $         3,202  

  (*)      In 2024, an amount of $ 161 was capitalized to inventory and  

Future amortization expenses are expected
to be as follows:

                                    2025                 2026                 2027                 2028  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────
  Future amortization expenses                3,376                3,376                1,766            

F-27

GAUZY LTD.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)

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

NOTE 8 - INTANGIBLE ASSETS(continued):

  Goodwill  

Following the separation of the architecture
and automotive segment into thetwooperating segments (see Note