Improved Financial Metrics
Non-IFRS gross margin increased to 18.2%, a 3.1% improvement from the first quarter of 2024. Operating expenses were reduced by $9.9 million, a 32.1% reduction compared to the same period last year. Adjusted EBITDA increased to $14.3 million, up from $10.2 million, marking a 40% increase.
Growth in Energy Business
Energy business revenue grew by 6.2% year-over-year, reaching $34.5 million. The subscriber base increased to 644,000, up 8% from the previous year.
New Credit Facility
Gogoro secured a NT$ 2 billion (approximately US$ 61.5 million) credit facility, indicating market confidence in the company's future plans.
International Expansion
Completed a joint venture agreement with Castrol for international expansion, with a pilot program expected in the second half of 2025.