Core Insights - Gogoro continues to make progress towards profitability, with improvements in non-IFRS gross margin and operating cash flow in the first half of 2025, indicating positive impacts from strategic efforts [4][5][10] - The company faced challenges in revenue due to the delayed launch of its new product, EZZY, but remains optimistic about achieving its full-year revenue targets [4][5][15] - Gogoro is focused on cost discipline and innovation, with plans for new product launches and battery pack developments in the coming years [4][5][11] Financial Performance - Total revenue for Q2 2025 was $65.8 million, a decrease of 18.7% year-over-year, and down 22.5% on a constant currency basis [5][11] - Battery swapping service revenue increased to $37.6 million, up 8.5% year-over-year, while hardware sales dropped to $28.2 million, down 39.1% year-over-year [5][11] - The gross margin was 0.3%, down from 5.2% in the same quarter last year, while non-IFRS gross margin improved to 17.0%, up from 13.5% [7][11] Cost Management - Operating cash flow improved significantly to $15.2 million in the first half of 2025, compared to $4.8 million in the same period of 2024, driven by cost-saving initiatives [5][14] - The company saved approximately $11 million in operating expenses in the first half of 2025 compared to the same period in 2024 [5][10] - Organizational restructuring and streamlined product offerings contributed to reduced operating expenses [10][14] Market Outlook - The Taiwan two-wheeler market is expected to be subdued in 2025, impacting Gogoro's revenue projections, which are now anticipated to be at the low end of the previously provided range of $295 million to $315 million [15] - International markets, particularly Korea and Vietnam, are showing positive signs with increased demand for Gogoro's solutions and supportive government policies for electrification [5][11] Product Development - Gogoro plans to launch a new vehicle in Q3 2025 and an all-new vehicle platform in 2026, alongside ongoing battery pack upgrades [5][11][15] - The company has invested approximately $100 million annually in capital expenditures over the past three years to enhance its battery swapping network [8][9]

Core Insights - Gogoro Inc. will release its financial results for Q2 2025 on August 12, 2025, before market opening [1] - An earnings webcast will be held at 8:00 a.m. Eastern Time on the same day to discuss financial and business results [2] Company Overview - Founded in 2011, Gogoro aims to innovate urban energy solutions and promote sustainable mobility [3] - The company has received multiple accolades, including being recognized by Fortune as a "Change the World 2024" company and by Frost & Sullivan as the "2024 Global Company of the Year for battery swapping for electric two-wheel vehicles" [3] - Gogoro's technology focuses on battery swapping, vehicle design, and AI-driven cloud services to enhance urban mobility [3]

Financial Data and Key Metrics Changes - In Q1 2025, the company achieved a non-IFRS gross margin of 18.2%, an increase from 15.1% in the same quarter last year [20] - Operating expenses were reduced by $9,600,000, a decrease of 32.1% compared to Q1 2024 [7][20] - Adjusted net loss decreased by 36.5% to $10,900,000 from $17,200,000 in Q1 2024 [7] - Adjusted EBITDA increased to $14,300,000 in Q1 2025, up from $10,200,000 in Q1 2024, representing a 40% increase [17][20] - Total revenue dropped by 4.5% year-over-year on a constant currency basis [17] Business Line Data and Key Metrics Changes - The energy business recorded revenue of $34,500,000, reflecting a 6.2% growth year-over-year [8] - Hardware sales revenue was $29,100,000, down 21.8% year-over-year, attributed to a decrease in vehicle sales volume [19] - The total subscriber base reached 644,000, an 8% increase from 595,000 subscribers at the end of Q1 2024 [18] Market Data and Key Metrics Changes - The company anticipates that approximately 95% of its full-year revenue for 2025 will be generated from the Taiwan market [22] - The Taiwan two-wheeler market in 2025 is expected to remain at approximately 2024 levels [22] Company Strategy and Development Direction - The company aims to achieve breakeven in the energy business by 2026 and in the vehicle business by 2028 [6][22] - A focus on operational efficiency and cost optimization is expected to create approximately $25,000,000 in savings in 2025 compared to 2024 [21] - The company is exploring international expansion through partnerships, including a joint venture with Castro [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges in the global macro environment, including market volatility and tariff issues [15] - The company remains focused on delivering predictable financial results and a clear vision for the future [5] - Management believes that advancements in charging technology are part of the broader ecosystem evolution and do not pose a direct threat to the battery swapping model [25][28] Other Important Information - The company transferred its listing from the NASDAQ Global Select Market to the NASDAQ Capital Market, gaining an additional 180-day grace period to regain compliance with NASDAQ requirements [31] - The company has received a new credit facility of approximately $61,500,000, indicating market confidence in its future plans [7] Q&A Session Summary Question: How does the company view advancements in fast charging technology? - Management recognizes rapid advancements in fast charging as beneficial for overall EV adoption but does not see them as a direct threat to the battery swapping model [25][28] Question: What are the plans regarding the transfer to the NASDAQ Capital Market? - The company gained a 180-day grace period to regain compliance with NASDAQ requirements and is focused on long-term stock performance rather than short-term gains [31][32] Question: What are the long-term growth plans for top and bottom lines? - The company anticipates breakeven in the network business by 2026 and expects significant operational leverage and profitability improvements thereafter [34][35] Question: Is the current operating efficiency model sustainable and scalable? - Management believes the current operating efficiency model is sustainable and scalable, with a strong foundation for growth beyond breakeven [39][40]

Financial Data and Key Metrics Changes - The company achieved a non-IFRS gross margin of 18.2%, an increase from 15.1% in the same quarter last year [19] - Operating expenses were reduced by $9,600,000, a decrease of 32.1% compared to Q1 2024 [7][19] - Adjusted net loss decreased by 36.5% to $10,900,000 from $17,200,000 in Q1 2024 [7] - Adjusted EBITDA increased to $14,300,000, up from $10,200,000 in the same quarter last year, representing a 40% increase [17][19] - Total revenue dropped by 4.5% year-over-year on a constant currency basis [17] Business Line Data and Key Metrics Changes - Energy business revenue was $34,500,000, showing a 6.2% growth year-over-year [8][17] - Hardware sales revenue was $29,100,000, down 21.8% year-over-year, attributed to a decrease in vehicle sales volume [18] - The total subscriber base reached 644,000, an 8% increase from 595,000 subscribers at the end of Q1 2024 [17] Market Data and Key Metrics Changes - The company anticipates that approximately 95% of its full-year revenue for 2025 will be generated from the Taiwan market [21] - The Taiwan two-wheeler market in 2025 is expected to remain at approximately 2024 levels [21] Company Strategy and Development Direction - The company aims to achieve breakeven in the energy business by 2026 and in the vehicle business by 2028 [6][21] - A new credit facility of approximately $61,500,000 has been secured to support growth and indicates market confidence [7] - The company is focusing on operational efficiency and cost optimization to drive profitability [20] Management's Comments on Operating Environment and Future Outlook - The global macro environment presents challenges, including market volatility and tariff issues, impacting consumer confidence [16] - Management remains focused on long-term growth and profitability, emphasizing the importance of the subscription-based business model [22] - The company is optimistic about the future, expecting to reach profitability in its battery swapping business by 2026 [21] Other Important Information - The company transferred its listing from the NASDAQ Global Select Market to the NASDAQ Capital Market, gaining an additional 180-day grace period for compliance [29] - The company continues to receive support from the Taiwan government for EV policies and infrastructure investments [14] Q&A Session Summary Question: How does the company view advancements in fast charging technology? - Management recognizes advancements in fast charging as beneficial for overall EV adoption but does not see them as a direct threat to its battery swapping model, which offers speed and convenience [24][25] Question: What are the plans regarding the transfer to the NASDAQ Capital Market? - The company has gained a grace period to regain compliance with NASDAQ requirements and is focused on long-term financial improvements rather than short-term stock price gains [29][30] Question: What are the long-term growth plans for top and bottom lines? - The company anticipates significant growth driven by its subscription model and expects operational leverage to improve profitability as revenue increases [32][33] Question: Is the current operating efficiency model sustainable as the company grows? - Management believes the operating efficiency model is sustainable and scalable, allowing for growth without a linear increase in operating costs [36][38]

Q1 2025 Financial Performance - IFRS Revenue was $63.6 million, a decrease of 8.7% year-over-year[64] - IFRS Gross Margin was 4.9%[64] - IFRS Net Loss was $18.6 million, a decrease of $5.5 million year-over-year[64] - Non-IFRS Revenue (on a constant currency basis) was $66.6 million, a decrease of 4.5% year-over-year[66] - Non-IFRS Gross Margin was 18.2%, an increase of 3.1% year-over-year[66] - Adjusted EBITDA was $14.3 million, an increase of 40% year-over-year[30, 66] - Non-IFRS Net Loss reduced by 36.5%[31] Key Metrics - Total riding distance reached 12.8 billion kilometers[55] - Network subscribers totaled 644,000[57] - Average total swaps per day exceeded 400,000[58] 2025 Guidance - The company projects revenue between $295 million and $315 million for 2025[71]

Financial Performance - Revenue for Q1 2025 was $63.6 million, down 8.7% year-over-year and down 4.5% on a constant currency basis[4]. - Operating revenues for Q1 2025 were $63,621,000, a decrease of 8.5% compared to $69,711,000 in Q1 2024[38]. - For the three months ended March 31, 2025, total operating revenues decreased by 8.7% year-over-year to $63.621 million, compared to $66.558 million in the same period of 2024[45]. - The sales of hardware and others dropped by 21.8% year-over-year to $29.148 million, while battery swapping service revenue increased by 6.2% to $34.473 million[45]. - Gross profit for Q1 2025 was $3,106,000, down from $4,473,000 in Q1 2024, resulting in a gross margin of 4.9%[38]. - Gross margin for Q1 2025 was 4.9%, down from 6.4% in the same quarter last year, while non-IFRS gross margin improved to 18.2%, up from 15.1%[5]. - The net loss for the three months ended March 31, 2025, was $18.562 million, compared to a net loss of $13.127 million in the same period of 2024[45]. - Net loss for Q1 2025 was $18.6 million, an increase of $5.5 million from a net loss of $13.1 million in the same quarter last year[9]. - Non-IFRS net loss improved to $10.915 million in Q1 2025 from $17.176 million in Q1 2024[45]. - The company reported a basic and diluted net loss per share of $0.06 for both Q1 2025 and Q1 2024[38]. Operating Expenses - Total operating expenses decreased to $20,214,000 in Q1 2025 from $29,770,000 in Q1 2024, primarily due to reductions in sales and marketing and general administrative expenses[38]. - Adjusted EBITDA for Q1 2025 was $14.3 million, up from $10.2 million in the same quarter last year, primarily due to a $7.1 million reduction in operating expenses[10]. - Share-based compensation expenses totaled $1,083,000 in Q1 2025, down from $3,378,000 in Q1 2024[41]. - Share-based compensation expenses for Q1 2025 were $1.083 million, down from $3.378 million in Q1 2024[45]. Cash Flow and Liquidity - Operating cash outflow for Q1 2025 was $8.9 million, compared to an inflow of $0.9 million in Q1 2024, with a cash balance of $93.3 million at the end of Q1 2025[11]. - Cash and cash equivalents at the end of Q1 2025 were $93,279,000, down from $117,148,000 at the end of Q4 2024[41]. - The balance of total equity as of March 31, 2025, was $158.542 million, down from $176.540 million as of December 31, 2024[43]. Strategic Initiatives - The company secured a new NT$2 billion credit facility in Q1 2025 to support strategic initiatives and product innovation[3]. - Gogoro expects to achieve approximately $25 million in savings in 2025 compared to 2024 through cost efficiency plans[12]. - The ongoing battery upgrade initiatives are expected to negatively impact gross margin in the short term but are aimed at long-term economic benefits[8]. - The company recorded a derecognition expense related to battery upgrades, which is expected to recur in future periods[30]. - The company reported a total of $8.347 million in costs related to battery upgrade initiatives for Q1 2025, compared to $4.110 million in Q1 2024[45]. Future Outlook - The revenue forecast for the full year of 2025 is between $295 million to $315 million on a constant currency basis, with 95% expected from the Taiwan market[13]. - Total liabilities decreased to $499,036,000 as of March 31, 2025, from $523,887,000 as of December 31, 2024[36]. - The company experienced a translation loss of $11.320 million as of March 31, 2025, compared to a loss of $9.217 million as of December 31, 2024[43].

Core Insights - Gogoro Inc. reported its financial results for Q1 2025, highlighting a focus on operational efficiency and a commitment to profitability milestones [3][4][14] Financial Performance - Total revenue for Q1 2025 was $63.6 million, a decrease of 8.7% year-over-year, and down 4.5% on a constant currency basis [4][7] - Battery swapping service revenue was $34.5 million, an increase of 6.2% year-over-year, while hardware and other sales revenue was $29.1 million, down 21.8% year-over-year [7][8] - Gross margin was 4.9%, down from 6.4% in the same quarter last year, while non-IFRS gross margin improved to 18.2% from 15.1% [5][7] - The net loss for Q1 2025 was $18.6 million, compared to a net loss of $13.1 million in the same quarter last year [10][11] Operational Efficiency - The company has implemented cost optimization initiatives, resulting in a projected savings of approximately $25 million in 2025 compared to 2024 [13] - Operating expenses decreased significantly, contributing to an adjusted EBITDA of $14.3 million, up from $10.2 million in the same quarter last year [11][12] Subscriber Growth - Total subscribers for the battery swapping service reached 644,000, an increase of 8% from 595,000 subscribers year-over-year [8] Future Outlook - Gogoro maintains a revenue forecast for 2025 between $295 million to $315 million, with expectations for profitability in its battery swapping business by 2026 and hardware sales by 2028 [14][13]

Core Viewpoint - Gogoro Inc. has received approval to transfer its listing from the Nasdaq Global Select Market to the Nasdaq Capital Market due to non-compliance with minimum bid price requirements [1][2]. Company Summary - Gogoro is a global technology leader in battery swapping ecosystems aimed at sustainable urban mobility solutions, founded in 2011 [4]. - The company has been recognized for its innovation and impact, receiving accolades such as "Change the World 2024" by Fortune and "Most Innovative Company of 2024" by Fast Company [4]. - Gogoro's business model focuses on battery swapping and electric vehicle platforms, leveraging advanced technology and artificial intelligence for battery management [4]. Listing Transfer Details - The transfer of Gogoro's ordinary shares and warrants to the Nasdaq Capital Market took effect on April 30, 2025, following a compliance issue where the closing bid price fell below $1.00 for 30 consecutive business days [1][2]. - The company was granted an additional 180 calendar days, until October 27, 2025, to regain compliance with the minimum bid price requirement [2]. - If the closing bid price reaches at least $1.00 for 10 consecutive business days before the deadline, Nasdaq will confirm compliance for continued listing [2]. Market Impact - Gogoro does not expect a material impact on the trading of its securities due to the transfer to the Nasdaq Capital Market [3].

Group 1 - Gogoro Inc. will release its financial results for Q1 2025 on May 8, 2025, before market opening [1] - An earnings webcast will be held at 8:00 a.m. Eastern Time on the same day to discuss financial and business results [2] - An archived version of the webcast will be available for approximately two weeks after the Q&A session [2] Group 2 - Gogoro was founded in 2011 to innovate urban energy solutions and promote sustainable mobility [3] - The company has received multiple accolades, including being recognized by Fortune as a "Change the World 2024" company and by Frost & Sullivan as the "2024 Global Company of the Year for battery swapping for electric two-wheel vehicles" [3] - Gogoro's technology focuses on battery swapping, vehicle design, and advanced cloud services utilizing AI for battery management [3]

Core Points - Gogoro Inc. will hold its 2025 Annual General Meeting of Shareholders on May 28, 2025, at 9:30 AM Taipei time [1] - Shareholders listed in the register as of April 21, 2025, are entitled to vote at the AGM [2] - The Notice of the AGM, Proxy Statement, Proxy Card, and the Company's 2024 Annual Report are available on the Investor Relations section of the Company's website and the SEC's website [3] Company Overview - Gogoro, founded in 2011, focuses on sustainable urban mobility solutions through battery swapping ecosystems [4] - The company has received multiple accolades, including being recognized by Fortune as a "Change the World 2024" company and by Frost & Sullivan as the "2024 Global Company of the Year for battery swapping for electric two-wheel vehicles" [4] - Gogoro aims to disrupt traditional urban energy distribution and consumption, leveraging innovation in vehicle design, electric propulsion, and smart battery technology [4]