Gogoro (GGR) Q4 2025 Earnings Call Transcript
View original at finance.yahoo.com“we achieved a record high full-year adjusted EBITDA of $59,900,000, up from $44,700,000 in 2024.”
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Q4 2025 revenue was $74.4M, up 1.7% year over year
80% confidenceFull year battery swapping revenue grew 8.1% to $149M
80% confidenceGogoro ended 2025 with $70.6M in cash
80% confidenceFull year 2025 revenue was $281.5M, down 9.4% from 2024
80% confidence2026 revenue forecast is $285M to $305M, with approximately 95% from Taiwan market
80% confidenceFinancial discipline remains top priority, will not buy revenue or chase empty volume, growth must be organic and gross-margin positive
80% confidenceGogoro is launching two new models in 2026 specifically engineered to set a new benchmark for safety and premium experience
80% confidenceScooter business will not jeopardize profitability trajectory of Gogoro Network and Gogoro as a group, managed with clear financial guardrails
80% confidenceIn 2025, Gogoro deliberately stepped back to simplify and sharpen focus, making hard choices and actively restructuring to meet market challenges
80% confidenceTotal OpEx reduction in 2025 was $1.9M on IFRS basis including one-time impairments, nearly $24M without impairments
80% confidenceGogoro has been working with Taiwan police department for the past five years
80% confidenceGross margin improved to 8.3% from 2.6% in 2024, and non-IFRS margin increased to 19.5% from 14.9% in 2024
80% confidenceQ4 gross margin reached 14.3%, up from 7.4% in Q4 2024
80% confidenceThe EZ family surpassed 8,700 units in cumulative sales from launch to end of year and was the best-selling electric scooter of 2025
80% confidenceFull year net loss narrowed by $42M year over year to $80.8M from $122.8M
80% confidenceQ4 battery swapping revenue grew 5.9% to $38M
80% confidenceQ4 net loss narrowed to $20.8M, an improvement of $50.5M year over year
80% confidenceBattery swapping business expected to achieve non-IFRS profitability in 2026, with hardware business following in 2028
80% confidenceTaiwan scooter market declined to 708,392 units in 2025, down 5.9% year over year, marking the lowest level in ten years
80% confidenceGogoro is launching a pilot in Vietnam with strategic market leader Kestrel, with broader commercial launch targeted for B2B customers later in 2026
80% confidenceOperating cash flow increased more than three times year over year to $31.1M
80% confidenceGogoro and partners accounted for 68% of the overall electric two-wheeler market of 49,228 units, with Gogoro alone representing 57%
80% confidenceIn 2026, it will be hard to replicate the same level of OpEx savings as 2025
80% confidenceSubscribers reached 665,000, up 4% year over year
80% confidenceConfident that energy business will demonstrate profitability by end of 2026 as promised
80% confidenceGogoro achieved record high full-year adjusted EBITDA of $59.9M, up from $44.7M in 2024
80% confidence