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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.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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