Gogoro (GGR) AI Stock Analysis

• Market Cap: $68.16M
• Dividend Yield: N/A
• Average Volume (3M): 30.66K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.54
• Revenue Growth: -13.37%
• EPS Growth: -75.11%
• Country: US
• Employees: 2,097
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Auto - Parts
• EPS (TTM): -1.80
• Shares Outstanding: 14,753,768
• 10 Day Avg. Volume: 45,250
• 30 Day Avg. Volume: 30,656
• 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: 6.88
• Enterprise Value/Revenue: 1.62
• Enterprise Value/Gross Profit: 223.66
• Enterprise Value/Ebitda: -15.79
• 1Y Price Target: $4.00
• Price Target Upside: -5.88% Downside
• Rating Consensus: Hold
• Number of Analyst Covering: 1

• Rating: 40 Underperform
• Price Target: $4.00 ▼(-5.88% Downside)

Gogoro's overall stock score is primarily impacted by its weak financial performance and bearish technical indicators. The negative valuation metrics further contribute to the low score. While the earnings call provided some positive insights, the company's significant challenges and financial instability weigh heavily on the overall assessment.

Positive Factors

Battery Swapping Business Growth

The growth in the battery swapping business highlights the strength and scalability of Gogoro's subscription model, providing a steady revenue stream and reinforcing its market position in electric mobility.

Improved Operating Cash Flow

The significant increase in operating cash flow indicates improved operational efficiency and cost management, enhancing Gogoro's ability to fund growth initiatives and manage financial obligations.

International Market Expansion

Expansion into international markets, such as Korea and Vietnam, diversifies revenue sources and reduces reliance on domestic markets, positioning Gogoro for long-term growth.

Negative Factors

Declining Revenue

The significant decline in hardware sales reflects challenges in product demand and market competitiveness, potentially impacting future revenue growth and profitability.

High Leverage

High leverage increases financial risk and limits flexibility, potentially constraining Gogoro's ability to invest in growth opportunities or weather economic downturns.

Net Loss

Ongoing net losses highlight operational challenges and the need for improved cost management and revenue generation to achieve long-term profitability.

Gogoro Business Overview & Revenue Model

Company Description

Gogoro Inc. is a Taiwanese company specializing in electric scooters and battery swapping technology. Founded in 2015, Gogoro aims to revolutionize urban transportation with its smart electric scooters and an extensive battery swapping network. The company primarily operates in the sustainable energy and automotive sectors, providing eco-friendly transportation solutions that contribute to reducing urban air pollution and traffic congestion. Gogoro's core products include electric scooters, battery packs, and a subscription-based battery swapping service that allows users to exchange depleted batteries for fully charged ones at numerous swapping stations.

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's financial performance is under significant pressure, with declining revenues, poor profitability, and high leverage. The income statement shows negative profit margins, and the balance sheet indicates a high debt-to-equity ratio. Cash flow issues are severe, with negative free cash flow posing a risk to sustainability.

Income Statement

Gogoro's income statement shows declining revenue and worsening profit margins over the past few years. The TTM data indicates a gross profit margin of approximately 2%, with a net profit margin of -42%, pointing to significant operational challenges. The revenue has also decreased from previous periods, reflecting a negative growth trajectory, which is a concern for future profitability. The company is struggling to manage costs effectively, as evidenced by negative EBIT and EBITDA margins.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, indicating significant leverage with total debt well above stockholders' equity. The equity ratio stands at about 24%, showing limited equity cushion against liabilities. However, the company maintains a reasonable level of total assets relative to equity. The financial stability is under pressure due to the high leverage, which could pose risks in adverse market conditions.

Cash Flow

The cash flow statement highlights severe cash management issues, with consistently negative free cash flow over recent periods. The TTM indicates a minimal operating cash flow, barely covering operational needs, and a free cash flow to net income ratio that signals insufficient cash generation to support financial obligations, exacerbating liquidity risks.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	289.30M	310.52M	349.85M	382.83M	366.01M	364.13M
Gross Profit	2.10M	7.41M	50.94M	57.71M	61.09M	79.44M
EBITDA	-29.68M	-11.61M	34.26M	8.57M	38.55M	37.98M
Net Income	-135.15M	-122.75M	-76.04M	-98.91M	-67.36M	-49.28M
Balance Sheet
Total Assets	755.47M	700.43M	834.23M	873.42M	844.40M	790.59M
Cash, Cash Equivalents and Short-Term Investments	92.03M	117.15M	173.88M	236.10M	217.43M	230.88M
Total Debt	476.67M	393.18M	440.31M	402.65M	461.06M	378.96M
Total Liabilities	603.63M	523.89M	585.54M	574.45M	720.69M	607.55M
Stockholders Equity	151.83M	176.54M	248.69M	298.97M	123.71M	183.03M
Cash Flow
Free Cash Flow	-92.95M	-114.65M	-59.19M	-188.06M	-47.61M	-144.93M
Operating Cash Flow	20.27M	9.85M	59.09M	-64.79M	80.79M	756.00K
Investing Cash Flow	-166.51M	-128.72M	-136.63M	-101.10M	-41.52M	-251.76M
Financing Cash Flow	-1.01M	33.81M	15.15M	186.40M	61.76M	187.26M

Gogoro Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

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 4.25 is below the 20-day moving average (MA) of 5.64, below the 50-day MA of 6.43, and below the 200-day MA of 6.77, indicating a bearish trend. The MACD of -0.62 indicates Positive momentum. The RSI at 23.15 is Positive, neither overbought nor oversold. The STOCH value of 10.18 is Positive, 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%
INVZ	55 Neutral	$429.66M	―	-72.45%	―	17.32%	37.70%
LIDR	55 Neutral	$115.44M	―	-222.90%	―	-23.62%	71.09%
AEVA	48 Neutral	$927.72M	―	-1441.64%	―	111.39%	-74.39%
ECX	46 Neutral	$825.94M	―	102.04%	―	12.52%	22.68%
LAZR	42 Neutral	$133.40M	―	146.24%	―	-5.22%	84.74%
GGR	40 Underperform	$68.16M	―	-64.97%	―	-13.37%	-75.11%

Gogoro Corporate Events

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.

Gogoro Reports Q2 2025 Financial Results Amid Market Challenges

On August 12, 2025, Gogoro Inc. announced its financial results for the second quarter ending June 30, 2025. Despite a challenging macroeconomic environment and a reduction in the two-wheel market, the company reported an increase in operating cash flow and a rise in battery swapping service revenue. Gogoro continues to streamline its operations, resulting in significant cost savings and improved non-IFRS gross margins. The company is also making strides in international markets, with increased demand in Korea and positive policy developments in Vietnam. However, overall revenue declined due to a delayed product launch and broader economic headwinds in Taiwan, contributing to a net loss of $26.5 million for the quarter.