Record Adjusted EBITDA
Full year adjusted EBITDA reached a record high of $59.9 million (up from $44.7 million in 2024), driven by cost reductions, efficiency gains and higher gross profit.
Strong Operating Cash Flow Improvement
Operating cash flow more than tripled year-over-year to $31.1 million, reflecting improved cash generation from operations and disciplined working capital management.
Gross Margin Expansion
Full year gross margin expanded to 8.3% from 2.6% in 2024; full year non-IFRS margin rose to 19.5% from 14.9%, with Q4 gross margin at 14.3% (versus 7.4% prior-year quarter).
Recurring Revenue and Subscriber Growth
Battery swapping revenue increased to $149 million for the year (+8.1% YoY) and Q4 swapping revenue grew 5.9% to $38.0 million; subscribers reached 665,000 (up 4% YoY), supporting recurring revenue stability.
Product and Go-to-Market Wins
Launches of EZZY (June) and EZZY 500 (September) yielded cumulative EZZY-family sales of ~8,700 units by year-end and made EZZY the best-selling electric scooter of 2025; notable B2B/government deployments include Chunghwa Post (>1,000 units) and partner launches (Yamaha CuxiE, ADATA).
Liquidity and Funding Support
Year-end cash of $70.6 million plus an $80 million equity investment commitment from the largest shareholder for 2026, providing near-term funding to execute the plan.
Improved Profitability Trajectory and Guidance
Net loss narrowed to $80.8 million (from $122.8 million in 2024); FY revenue guidance for 2026 is $285–305 million and the company expects Gogoro Network to reach non-IFRS profitability in 2026 (hardware profitability targeted for 2028).