Gauzy reports Q3 EPS (29c), consensus (35c)

Reports Q3 revenue $23.3M, consensus $25.67M. “Our third quarter revenue was in line with our pre-announced expectations, with strong 24.6% growth reflecting our premier position as a global leader in vision and light control technologies,” commented Eyal Peso, Gauzy (GAUZ) Co-Founder and Chief Executive Officer. “Our comprehensive capabilities, spanning from cutting-edge R&D through large-scale manufacturing, continue to drive strong demand across all our segments. We’re seeing particularly robust traction in our core markets, from advanced aircraft shading systems to sophisticated transportation safety solutions and energy-efficient architectural applications.” “To meet this growing demand, we’ve taken decisive action by adding a second shift at our French production facility,” Mr. Peso continued. “This doubling of shifts represents a strategic advance in our ability to accelerate shipments through the dedicated efforts of our stable and resilient workforce and better position our business for improved profitability. Prior labor constraints and typical third quarter seasonality in Europe resulted in approximately $4 million of deliveries that we anticipate moving into the fourth quarter and early 2025. I’m pleased to say that we have already begun fulfilling such backlog of orders. Accelerating momentum for our innovative solutions continues to build, as reflected in our fourth quarter guidance for a step up in revenue into year-end.” Mr. Peso concluded, “With Ferrari, one of the most iconic OEMs, with Yutong, the world’s largest bus manufacturer, and Ford on trucks, Gauzy serves some of the biggest and best names in the automotive industry with long-term supply agreements. They see the extraordinary value proposition that integrating our technology into their platforms represents, and their support underpins our strong growth trajectory. We are confident that investors will increasingly appreciate the intrinsic value of Gauzy, the same way that these customers and many others have entrusted us with an important part of their future growth.”