Gogoro (GGR) AI Stock Analysis

• Market Cap: $54.95M
• Dividend Yield: N/A
• Average Volume (3M): 31.20K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.52
• Revenue Growth: -14.88%
• EPS Growth: -43.30%
• Country: US
• Employees: 2,097
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): -1.01
• Shares Outstanding: 14,753,768
• 10 Day Avg. Volume: 39,960
• 30 Day Avg. Volume: 31,204
• PEG Ratio: -0.02
• Price to Book (P/B): 0.75
• Price to Sales (P/S): 0.43
• P/FCF Ratio: -1.15
• Enterprise Value/Market Cap: 8.53
• Enterprise Value/Revenue: 1.67
• Enterprise Value/Gross Profit: 63.13
• Enterprise Value/Ebitda: -19.80
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: Hold
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: $3.50 ▼(-7.89% Downside)

Gogoro's overall stock score is primarily impacted by its significant financial challenges, including declining revenues, high leverage, and insufficient cash generation. Technical analysis indicates bearish momentum, and valuation metrics are concerning with a negative P/E ratio. However, the earnings call provided some optimism with improvements in operating cash flow and strategic initiatives aimed at long-term growth.

Positive Factors

Operating Cash Flow Improvement

Improved operating cash flow indicates better cash management and operational efficiency, supporting long-term financial stability.

Battery Swapping Service Growth

Growth in battery swapping services suggests strong demand and a scalable business model, enhancing recurring revenue streams.

Product Launch Success

Successful product launches strengthen market position and brand recognition, driving future sales and market share.

Negative Factors

Decline in Hardware Revenue

Declining hardware revenue reflects challenges in product sales, potentially impacting overall revenue growth and profitability.

High Leverage

High leverage increases financial risk, limiting flexibility and potentially impacting long-term financial health.

Challenges in Taiwan's Market

Market contraction in Taiwan poses challenges for growth, affecting sales volumes and necessitating strategic adjustments.

Gogoro Business Overview & Revenue Model

Company Description

Gogoro Inc. manufactures two-wheeled electric vehicle. The company offers two-wheeled electric scooter that provides cloud connectivity and electric powertrain that utilizes swappable battery infrastructure for gathering, analyzing, and sharing riding data through a mobile application on the rider's smartphone. It also operates battery swapping infrastructure network for electric vehicles that can be deployed across the cities to provide portable power through battery vending machines. Gogoro Inc. has a strategic partnership with Foxconn Electronics Inc. The company was founded in 2011 and is based in Taoyuan City, Taiwan.

How the Company Makes Money

Gogoro generates revenue through multiple streams, primarily from the sales of electric scooters and battery packs. The company has established a subscription model for its battery swapping service, which allows customers to pay a monthly fee for access to the battery swapping network and the ability to swap batteries at designated stations. Additionally, Gogoro earns revenue through partnerships with various businesses, such as collaborations with local governments and companies that support shared mobility initiatives. These partnerships often involve co-developing infrastructure or sharing revenue from the use of Gogoro's battery swapping services. Furthermore, Gogoro has entered into agreements with businesses to provide fleet solutions, thereby expanding its revenue potential in the commercial sector.

Gogoro Financial Statement Overview

Summary

Gogoro faces significant financial challenges. The income statement shows declining revenues and substantial losses, with negative profitability metrics. The balance sheet reveals high leverage and negative equity returns, while cash flow metrics indicate insufficient cash generation relative to losses. The company must focus on improving operational efficiency, reducing debt, and enhancing cash flow to achieve financial stability.

Income Statement

Gogoro's income statement reveals significant challenges. The company has experienced declining revenue growth, with a negative rate of -3.18% in the TTM. Profitability metrics are concerning, with a gross profit margin of only 0.72% and a net profit margin of -46.72%, indicating substantial losses. EBIT and EBITDA margins are also negative, reflecting operational inefficiencies. The company needs to address its cost structure and revenue generation to improve its financial health.

Balance Sheet

The balance sheet shows a high debt-to-equity ratio of 3.14, indicating significant leverage and potential financial risk. The return on equity is negative at -73.01%, suggesting that the company is not generating returns for its shareholders. The equity ratio is relatively low, highlighting a reliance on debt financing. Improving equity and reducing debt could enhance financial stability.

Cash Flow

Cash flow analysis indicates challenges in cash management. The free cash flow growth rate is negative at -3.43%, and the free cash flow to net income ratio is -4.59, showing that the company is not generating sufficient free cash flow relative to its net losses. The operating cash flow to net income ratio is low at 0.09, suggesting limited cash flow from operations. Enhancing cash generation and reducing cash outflows are critical for sustainability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	280.21M	310.64M	349.85M	382.83M	366.01M	364.13M
Gross Profit	7.43M	7.93M	50.94M	57.71M	61.09M	79.44M
EBITDA	-23.67M	-11.61M	34.26M	7.67M	38.55M	37.98M
Net Income	-131.36M	-122.75M	-76.04M	-98.91M	-67.36M	-49.28M
Balance Sheet
Total Assets	702.02M	700.43M	834.23M	873.42M	844.40M	790.59M
Cash, Cash Equivalents and Short-Term Investments	119.49M	117.15M	173.88M	236.10M	217.43M	230.88M
Total Debt	447.08M	393.18M	440.31M	402.65M	461.06M	378.96M
Total Liabilities	569.75M	523.89M	585.54M	574.45M	720.69M	607.55M
Stockholders Equity	132.27M	176.54M	248.69M	298.97M	123.71M	183.03M
Cash Flow
Free Cash Flow	-89.76M	-114.65M	-58.72M	-188.48M	-47.61M	-144.93M
Operating Cash Flow	22.25M	9.85M	59.09M	-64.79M	80.79M	756.00K
Investing Cash Flow	-58.09M	-128.72M	-136.63M	-101.10M	-41.52M	-251.76M
Financing Cash Flow	-1.95M	33.81M	15.15M	186.40M	61.76M	187.26M

Gogoro Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 3.80
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GGR, the sentiment is Negative. The current price of 3.8 is below the 20-day moving average (MA) of 3.82, below the 50-day MA of 4.51, and below the 200-day MA of 5.95, indicating a bearish trend. The MACD of -0.15 indicates Negative momentum. The RSI at 43.54 is Neutral, neither overbought nor oversold. The STOCH value of 40.03 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for GGR.

Gogoro Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%
ECX	52 Neutral	$671.02M	―	―	―	6.59%	55.85%
LIDR	50 Neutral	$89.07M	-0.77	-75.54%	―	-19.11%	73.51%
AEVA	47 Neutral	$654.27M	―	-192.35%	―	89.90%	5.13%
INVZ	47 Neutral	$244.95M	―	-71.46%	―	46.09%	46.01%
GGR	43 Neutral	$54.95M	-0.40	-68.35%	―	-14.88%	-43.30%
LAZR	38 Underperform	$66.96M	―	―	―	0.97%	61.79%

Gogoro Corporate Events

Gogoro Reports Strong Q3 2025 Results Amid Market Challenges

On November 11, 2025, Gogoro Inc. announced its financial results for the third quarter of 2025, revealing a strong operational foundation despite a challenging market environment. The company reported a significant increase in operating cash flow and a reduction in net loss compared to the previous year, driven by improved efficiency and cost management. Gogoro expanded its product lineup with the EZZY models and strengthened its Powered by Gogoro Network ecosystem, which is expected to enhance its market position and contribute to future growth. Despite a contraction in Taiwan’s two-wheeler market, Gogoro achieved strong non-IFRS profitability and plans to continue product innovation and operational improvements to sustain growth.

Gogoro Announces Strategic Financial Moves Amidst Leadership Changes

On September 16, 2025, Gogoro Inc. announced that its director, Mr. Yin Chung Yao, has committed to securing equity investments totaling NTD$2,500 million by the end of 2026. This move is aimed at facilitating discussions for a potential amendment to a syndicated credit facility agreement with Mega International Commercial Bank and other lenders. The company emphasizes that any amendments or equity investments are subject to further negotiations and approvals, highlighting the strategic importance of these financial maneuvers for its operational and market positioning.