Strong Revenue Growth
Gauzy reported a 24.6% increase in total revenue for Q3 2024 and a 29.2% increase year-to-date compared to the same period in 2023.
Significant Contracts and Partnerships
Gauzy announced new business with major companies like Ferrari, Yutong, and a major international airline. Ferrari selected Gauzy for an 8-year contract, and Ford Trucks signed a 10-year serial production agreement.
Safety Tech Division Growth
The Safety Tech division saw a 68% increase in revenue due to strong demand for ADAS Smart Vision 2, with Yutong increasing orders by 250% year-over-year.
Architecture and Automotive Division Developments
The Architecture division achieved a 21% revenue increase, while the Automotive division secured a 9-year contract to deliver products to 50,000 cars annually starting in 2025.
Positive EBITDA Outlook
Gauzy is on track to reach EBITDA breakeven in Q4 2024, reflecting a focus on profitability.