Gauzy Ltd. reported its first-quarter 2025 financial results, revealing a decline in revenues to $22.4 million from $24.7 million in the same period of the previous year. This reduction was primarily attributed to challenges in the Aeronautics and Architecture sectors, although there were improvements noted in Safety Tech and Automotive. The company achieved a gross margin of 25.6%, up from 25.1% in the prior year quarter, due to a reduced cost of revenue. The net loss for the quarter was $10.8 million, an improvement from the $13.2 million loss reported in the first quarter of 2024. This reduction in net loss was mainly the result of decreased total operating expenses and interest expense. Gauzy's Non-GAAP adjusted net loss also showed improvement at $9.1 million, compared to $10.0 million in the previous year. The company reported a Non-GAAP Adjusted EBITDA of ($5.5) million, compared to ($4.8) million in the same quarter last year. Despite the decline in revenues, Gauzy's financial position was bolstered by a purchase order backlog of $35.7 million at the end of the quarter, a $5 million increase since the start of the year. Total available liquidity was reported at $36.2 million, which includes $1.2 million in cash and a $35.0 million undrawn credit facility. Additionally, Gauzy highlighted favorable terms in its financing arrangements, with interest rates approximately 30% lower than the pre-IPO loan facility, indicating a strengthened financial position and market standing. The company remains optimistic about demand for its products, supported by a growing multi-year contracted backlog.