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Gogoro (GGR) investor relations material

Gogoro Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary12 Feb, 2026

Executive summary

  • Strategic reset in 2025 prioritized operational discipline, portfolio consolidation, and long-term sustainability, resulting in record-high adjusted EBITDA, improved financial health, and significant cost reductions.

  • Major restructuring, resource realignment, and product line enhancements led to improved gross margin, operating cash flow, and reduced inventory.

  • Technology leadership reinforced with successful launches of EZZY and EZZY 500, making EZZY the best-selling electric scooter of 2025.

  • Expanded B2B, B2G, and government fleet presence, including major deployments with Taiwan's postal service and police, and continued momentum with PBGN partners.

  • Enhanced customer service commitment with a one-time customer care package and battery swapping service rebates.

Financial highlights

  • Full-year adjusted EBITDA reached $59.9M, up from $44.7M in 2024; Q4 adjusted EBITDA was $12.9M, up 84% year-over-year.

  • Full-year revenue was $281.5M, a 9.4% decline year-over-year, but within guidance; Q4 revenue was $74.4M, up 1.7% year-over-year.

  • Gross margin rose to 8.3% from 2.6% in 2024; non-IFRS margin improved to 19.5% from 14.9%.

  • Net loss narrowed by over $40M to $80.8M for the year; Q4 net loss was $20.8M, a $50.5M improvement year-over-year.

  • Operating cash flow increased over threefold year-over-year to $31.1M.

Outlook and guidance

  • 2026 revenue forecasted at $285M–$305M, with 95% expected from Taiwan.

  • Battery swapping business expected to achieve non-IFRS profitability in 2026; hardware business by 2028.

  • New modular swapping stations and two new vehicle models to launch in 2026, targeting high-value segments.

  • International expansion in Vietnam with a pilot program in partnership with Castrol, leveraging regulatory tailwinds.

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Frequently asked questions

Gogoro Inc. is a Taiwanese company specializing in electric mobility solutions, particularly through its innovative battery-swapping technology for electric two-wheelers. The company operates a network of battery-swapping stations, known as the Gogoro Network, which allows users to quickly swap depleted batteries for fully charged ones, avoiding traditional charging times. Gogoro also manufactures a line of electric scooters, such as the Smartscooter, and has partnered with major vehicle manufacturers like Hero MotoCorp to expand its battery-swapping infrastructure in countries like India. Gogoro is headquartered in Taipei, Taiwan, and its shares are listed on the NASDAQ.

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