Gogoro ( (GGR) ) has released its Q1 earnings. Here is a breakdown of the information Gogoro presented to its investors.
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Gogoro Inc., a leader in battery swapping ecosystems for sustainable urban mobility, has released its financial results for the first quarter of 2025, highlighting its focus on operational efficiency and strategic growth.
In the first quarter of 2025, Gogoro reported a total revenue of $63.6 million, marking an 8.7% decline year-over-year. Despite this, the company saw a 6.2% increase in its battery swapping service revenue, reaching $34.5 million, driven by an 8% growth in subscribers. However, sales of hardware and other revenues fell by 21.8% due to a delayed vehicle launch and reduced sales in accessories and maintenance services.
Gogoro’s gross margin decreased to 4.9% from 6.4% the previous year, impacted by costs associated with battery upgrades. The company reported a net loss of $18.6 million, an increase from the previous year’s $13.1 million loss, primarily due to changes in the fair value of financial liabilities. However, adjusted EBITDA improved to $14.3 million, up from $10.2 million, reflecting successful cost-saving initiatives.
Looking ahead, Gogoro remains committed to its profitability milestones and strategic growth, supported by a new NT$2 billion credit facility. The company plans to continue its battery upgrade initiatives throughout 2025, which are expected to enhance long-term economic benefits despite short-term impacts on gross margin. Gogoro’s management is confident in achieving sustainable growth and long-term shareholder value.