Financial Data and Key Metrics Changes - In Q1 2025, the company achieved a non-IFRS gross margin of 18.2%, an increase from 15.1% in the same quarter last year [20] - Operating expenses were reduced by $9,600,000, a decrease of 32.1% compared to Q1 2024 [7][20] - Adjusted net loss decreased by 36.5% to $10,900,000 from $17,200,000 in Q1 2024 [7] - Adjusted EBITDA increased to $14,300,000 in Q1 2025, up from $10,200,000 in Q1 2024, representing a 40% increase [17][20] - Total revenue dropped by 4.5% year-over-year on a constant currency basis [17] Business Line Data and Key Metrics Changes - The energy business recorded revenue of $34,500,000, reflecting a 6.2% growth year-over-year [8] - Hardware sales revenue was $29,100,000, down 21.8% year-over-year, attributed to a decrease in vehicle sales volume [19] - The total subscriber base reached 644,000, an 8% increase from 595,000 subscribers at the end of Q1 2024 [18] Market Data and Key Metrics Changes - The company anticipates that approximately 95% of its full-year revenue for 2025 will be generated from the Taiwan market [22] - The Taiwan two-wheeler market in 2025 is expected to remain at approximately 2024 levels [22] Company Strategy and Development Direction - The company aims to achieve breakeven in the energy business by 2026 and in the vehicle business by 2028 [6][22] - A focus on operational efficiency and cost optimization is expected to create approximately $25,000,000 in savings in 2025 compared to 2024 [21] - The company is exploring international expansion through partnerships, including a joint venture with Castro [11] Management's Comments on Operating Environment and Future Outlook - Management acknowledges challenges in the global macro environment, including market volatility and tariff issues [15] - The company remains focused on delivering predictable financial results and a clear vision for the future [5] - Management believes that advancements in charging technology are part of the broader ecosystem evolution and do not pose a direct threat to the battery swapping model [25][28] Other Important Information - The company transferred its listing from the NASDAQ Global Select Market to the NASDAQ Capital Market, gaining an additional 180-day grace period to regain compliance with NASDAQ requirements [31] - The company has received a new credit facility of approximately $61,500,000, indicating market confidence in its future plans [7] Q&A Session Summary Question: How does the company view advancements in fast charging technology? - Management recognizes rapid advancements in fast charging as beneficial for overall EV adoption but does not see them as a direct threat to the battery swapping model [25][28] Question: What are the plans regarding the transfer to the NASDAQ Capital Market? - The company gained a 180-day grace period to regain compliance with NASDAQ requirements and is focused on long-term stock performance rather than short-term gains [31][32] Question: What are the long-term growth plans for top and bottom lines? - The company anticipates breakeven in the network business by 2026 and expects significant operational leverage and profitability improvements thereafter [34][35] Question: Is the current operating efficiency model sustainable and scalable? - Management believes the current operating efficiency model is sustainable and scalable, with a strong foundation for growth beyond breakeven [39][40]

Financial Data and Key Metrics Changes - The company achieved a non-IFRS gross margin of 18.2%, an increase from 15.1% in the same quarter last year [19] - Operating expenses were reduced by $9,600,000, a decrease of 32.1% compared to Q1 2024 [7][19] - Adjusted net loss decreased by 36.5% to $10,900,000 from $17,200,000 in Q1 2024 [7] - Adjusted EBITDA increased to $14,300,000, up from $10,200,000 in the same quarter last year, representing a 40% increase [17][19] - Total revenue dropped by 4.5% year-over-year on a constant currency basis [17] Business Line Data and Key Metrics Changes - Energy business revenue was $34,500,000, showing a 6.2% growth year-over-year [8][17] - Hardware sales revenue was $29,100,000, down 21.8% year-over-year, attributed to a decrease in vehicle sales volume [18] - The total subscriber base reached 644,000, an 8% increase from 595,000 subscribers at the end of Q1 2024 [17] Market Data and Key Metrics Changes - The company anticipates that approximately 95% of its full-year revenue for 2025 will be generated from the Taiwan market [21] - The Taiwan two-wheeler market in 2025 is expected to remain at approximately 2024 levels [21] Company Strategy and Development Direction - The company aims to achieve breakeven in the energy business by 2026 and in the vehicle business by 2028 [6][21] - A new credit facility of approximately $61,500,000 has been secured to support growth and indicates market confidence [7] - The company is focusing on operational efficiency and cost optimization to drive profitability [20] Management's Comments on Operating Environment and Future Outlook - The global macro environment presents challenges, including market volatility and tariff issues, impacting consumer confidence [16] - Management remains focused on long-term growth and profitability, emphasizing the importance of the subscription-based business model [22] - The company is optimistic about the future, expecting to reach profitability in its battery swapping business by 2026 [21] Other Important Information - The company transferred its listing from the NASDAQ Global Select Market to the NASDAQ Capital Market, gaining an additional 180-day grace period for compliance [29] - The company continues to receive support from the Taiwan government for EV policies and infrastructure investments [14] Q&A Session Summary Question: How does the company view advancements in fast charging technology? - Management recognizes advancements in fast charging as beneficial for overall EV adoption but does not see them as a direct threat to its battery swapping model, which offers speed and convenience [24][25] Question: What are the plans regarding the transfer to the NASDAQ Capital Market? - The company has gained a grace period to regain compliance with NASDAQ requirements and is focused on long-term financial improvements rather than short-term stock price gains [29][30] Question: What are the long-term growth plans for top and bottom lines? - The company anticipates significant growth driven by its subscription model and expects operational leverage to improve profitability as revenue increases [32][33] Question: Is the current operating efficiency model sustainable as the company grows? - Management believes the operating efficiency model is sustainable and scalable, allowing for growth without a linear increase in operating costs [36][38]

ne gogolo. ANNIVERSARY Q1 2025 Investor Presentation MAY 8, 2025 Henry Chiang Interim CEO Gogoro® Q1 2025 Investor Presentation Bruce Aitken Chief Financial Officer 2 Forward-Looking Statements This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 2/E of the Securities Exchan mencied. Forward-looking statements generally relate to future events or Gogords future financial or operating performance. In some cases, you ca ...

Financial Performance - Revenue for Q1 2025 was $63.6 million, down 8.7% year-over-year and down 4.5% on a constant currency basis[4]. - Operating revenues for Q1 2025 were $63,621,000, a decrease of 8.5% compared to $69,711,000 in Q1 2024[38]. - For the three months ended March 31, 2025, total operating revenues decreased by 8.7% year-over-year to $63.621 million, compared to $66.558 million in the same period of 2024[45]. - The sales of hardware and others dropped by 21.8% year-over-year to $29.148 million, while battery swapping service revenue increased by 6.2% to $34.473 million[45]. - Gross profit for Q1 2025 was $3,106,000, down from $4,473,000 in Q1 2024, resulting in a gross margin of 4.9%[38]. - Gross margin for Q1 2025 was 4.9%, down from 6.4% in the same quarter last year, while non-IFRS gross margin improved to 18.2%, up from 15.1%[5]. - The net loss for the three months ended March 31, 2025, was $18.562 million, compared to a net loss of $13.127 million in the same period of 2024[45]. - Net loss for Q1 2025 was $18.6 million, an increase of $5.5 million from a net loss of $13.1 million in the same quarter last year[9]. - Non-IFRS net loss improved to $10.915 million in Q1 2025 from $17.176 million in Q1 2024[45]. - The company reported a basic and diluted net loss per share of $0.06 for both Q1 2025 and Q1 2024[38]. Operating Expenses - Total operating expenses decreased to $20,214,000 in Q1 2025 from $29,770,000 in Q1 2024, primarily due to reductions in sales and marketing and general administrative expenses[38]. - Adjusted EBITDA for Q1 2025 was $14.3 million, up from $10.2 million in the same quarter last year, primarily due to a $7.1 million reduction in operating expenses[10]. - Share-based compensation expenses totaled $1,083,000 in Q1 2025, down from $3,378,000 in Q1 2024[41]. - Share-based compensation expenses for Q1 2025 were $1.083 million, down from $3.378 million in Q1 2024[45]. Cash Flow and Liquidity - Operating cash outflow for Q1 2025 was $8.9 million, compared to an inflow of $0.9 million in Q1 2024, with a cash balance of $93.3 million at the end of Q1 2025[11]. - Cash and cash equivalents at the end of Q1 2025 were $93,279,000, down from $117,148,000 at the end of Q4 2024[41]. - The balance of total equity as of March 31, 2025, was $158.542 million, down from $176.540 million as of December 31, 2024[43]. Strategic Initiatives - The company secured a new NT$2 billion credit facility in Q1 2025 to support strategic initiatives and product innovation[3]. - Gogoro expects to achieve approximately $25 million in savings in 2025 compared to 2024 through cost efficiency plans[12]. - The ongoing battery upgrade initiatives are expected to negatively impact gross margin in the short term but are aimed at long-term economic benefits[8]. - The company recorded a derecognition expense related to battery upgrades, which is expected to recur in future periods[30]. - The company reported a total of $8.347 million in costs related to battery upgrade initiatives for Q1 2025, compared to $4.110 million in Q1 2024[45]. Future Outlook - The revenue forecast for the full year of 2025 is between $295 million to $315 million on a constant currency basis, with 95% expected from the Taiwan market[13]. - Total liabilities decreased to $499,036,000 as of March 31, 2025, from $523,887,000 as of December 31, 2024[36]. - The company experienced a translation loss of $11.320 million as of March 31, 2025, compared to a loss of $9.217 million as of December 31, 2024[43].

Core Insights - Gogoro Inc. reported its financial results for Q1 2025, highlighting a focus on operational efficiency and a commitment to profitability milestones [3][4][14] Financial Performance - Total revenue for Q1 2025 was $63.6 million, a decrease of 8.7% year-over-year, and down 4.5% on a constant currency basis [4][7] - Battery swapping service revenue was $34.5 million, an increase of 6.2% year-over-year, while hardware and other sales revenue was $29.1 million, down 21.8% year-over-year [7][8] - Gross margin was 4.9%, down from 6.4% in the same quarter last year, while non-IFRS gross margin improved to 18.2% from 15.1% [5][7] - The net loss for Q1 2025 was $18.6 million, compared to a net loss of $13.1 million in the same quarter last year [10][11] Operational Efficiency - The company has implemented cost optimization initiatives, resulting in a projected savings of approximately $25 million in 2025 compared to 2024 [13] - Operating expenses decreased significantly, contributing to an adjusted EBITDA of $14.3 million, up from $10.2 million in the same quarter last year [11][12] Subscriber Growth - Total subscribers for the battery swapping service reached 644,000, an increase of 8% from 595,000 subscribers year-over-year [8] Future Outlook - Gogoro maintains a revenue forecast for 2025 between $295 million to $315 million, with expectations for profitability in its battery swapping business by 2026 and hardware sales by 2028 [14][13]

Core Viewpoint - Gogoro Inc. has received approval to transfer its listing from the Nasdaq Global Select Market to the Nasdaq Capital Market due to non-compliance with minimum bid price requirements [1][2]. Company Summary - Gogoro is a global technology leader in battery swapping ecosystems aimed at sustainable urban mobility solutions, founded in 2011 [4]. - The company has been recognized for its innovation and impact, receiving accolades such as "Change the World 2024" by Fortune and "Most Innovative Company of 2024" by Fast Company [4]. - Gogoro's business model focuses on battery swapping and electric vehicle platforms, leveraging advanced technology and artificial intelligence for battery management [4]. Listing Transfer Details - The transfer of Gogoro's ordinary shares and warrants to the Nasdaq Capital Market took effect on April 30, 2025, following a compliance issue where the closing bid price fell below $1.00 for 30 consecutive business days [1][2]. - The company was granted an additional 180 calendar days, until October 27, 2025, to regain compliance with the minimum bid price requirement [2]. - If the closing bid price reaches at least $1.00 for 10 consecutive business days before the deadline, Nasdaq will confirm compliance for continued listing [2]. Market Impact - Gogoro does not expect a material impact on the trading of its securities due to the transfer to the Nasdaq Capital Market [3].

Group 1 - Gogoro Inc. will release its financial results for Q1 2025 on May 8, 2025, before market opening [1] - An earnings webcast will be held at 8:00 a.m. Eastern Time on the same day to discuss financial and business results [2] - An archived version of the webcast will be available for approximately two weeks after the Q&A session [2] Group 2 - Gogoro was founded in 2011 to innovate urban energy solutions and promote sustainable mobility [3] - The company has received multiple accolades, including being recognized by Fortune as a "Change the World 2024" company and by Frost & Sullivan as the "2024 Global Company of the Year for battery swapping for electric two-wheel vehicles" [3] - Gogoro's technology focuses on battery swapping, vehicle design, and advanced cloud services utilizing AI for battery management [3]

Core Points - Gogoro Inc. will hold its 2025 Annual General Meeting of Shareholders on May 28, 2025, at 9:30 AM Taipei time [1] - Shareholders listed in the register as of April 21, 2025, are entitled to vote at the AGM [2] - The Notice of the AGM, Proxy Statement, Proxy Card, and the Company's 2024 Annual Report are available on the Investor Relations section of the Company's website and the SEC's website [3] Company Overview - Gogoro, founded in 2011, focuses on sustainable urban mobility solutions through battery swapping ecosystems [4] - The company has received multiple accolades, including being recognized by Fortune as a "Change the World 2024" company and by Frost & Sullivan as the "2024 Global Company of the Year for battery swapping for electric two-wheel vehicles" [4] - Gogoro aims to disrupt traditional urban energy distribution and consumption, leveraging innovation in vehicle design, electric propulsion, and smart battery technology [4]

Financial Performance - The company incurred a net loss of $122.8 million, $76.0 million, and $98.9 million for the years ended December 31, 2024, 2023, and 2022, respectively, with an accumulated deficit of approximately $548.7 million as of December 31, 2024[33]. - The company expects to continue incurring significant expenses and operating losses in the near and medium term, with no assurance of maintaining future profitability[34]. - As of December 31, 2024, the company's cash and cash equivalents decreased to $117.1 million from $173.9 million as of December 31, 2023, indicating a significant reduction in available liquidity[41]. - The company faces challenges in funding ongoing operations and may need to delay or reduce business activities if sufficient cash flows or financing are not generated[42]. - The company may need to raise additional funds to support ongoing operations, with no assurance that such financing will be available on favorable terms[34]. - The company anticipates that fluctuations in operating costs due to inflation and other factors will cause significant variations in financial results from period to period[53]. - Significant increases in material costs, particularly for lithium-ion cells, could negatively impact the company's financial condition and operating results[72]. - The company may face declining average selling prices for ePTWs and battery swapping services, which could negatively impact revenue and gross profits[86]. Strategic Initiatives - The company implemented strategic initiatives starting from Q4 2024 aimed at streamlining operations and reducing costs, which include structural realignment and facility consolidation[36]. - The company plans to invest heavily in research and development, which may reduce profitability and may not yield immediate revenue[77]. - The company’s growth strategy may strain management and operational infrastructure, potentially leading to difficulties in customer acquisition and satisfaction[44]. - The company is exposed to significant risks related to supply chain management, including compliance with laws and regulations, which could lead to operational disruptions and increased costs[51]. Market and Competition - The company faces strong competition in the market, which may affect its ability to grow and maintain market acceptance of its products[33]. - The company’s growth is highly dependent on the continued adoption of electric vehicles and battery swapping technology by consumers[34]. - The demand for battery swapping technology is rising, but equipment vendors may struggle to keep up with the necessary supply chain and production capacity[63]. - The company faces strong competition in the ePTW market, which is still developing, requiring early engagement to gain market share[115]. - Competitors may respond more quickly to market changes due to greater resources, potentially leading to price competition[116]. - The market for battery swapping is expected to expand, intensifying competition as new entrants emerge[117]. Regulatory and Compliance Risks - The company faces risks related to product liabilities under local consumer protection regulations, which could impact financial performance if significant claims arise[143]. - The company must comply with various approvals and permits in Taiwan, and failure to do so could adversely affect daily operations[185]. - Compliance with evolving privacy, data protection, and cybersecurity laws may require significant operational changes and incur substantial costs[159]. - Environmental, health, and safety regulations could lead to increased compliance costs and operational restrictions, potentially impacting financial results[161]. - The company is subject to export control laws and trade sanctions, which could impair competitiveness in international markets and lead to significant penalties for non-compliance[164]. - Future results may be adversely affected by changes in laws and regulations, including accounting standards and trade laws, impacting demand and operational costs[165]. Operational Challenges - The company has experienced shortages and increased costs for semiconductors, which could adversely affect production schedules and gross margins[65]. - The complexity of the software platform may lead to latent defects or errors, potentially affecting market adoption and increasing maintenance costs[92]. - The company may face issues with vehicle and battery components that could harm production and profitability[84]. - The company has experienced service disruptions and performance problems that could adversely affect business operations and customer retention[89]. Funding and Shareholder Concerns - The company may need to pursue external funding sources to support its investments and operations, which may not be available on favorable terms[60]. - The company expects to issue additional share capital in the future, which will result in dilution for existing shareholders[220]. - The company does not intend to pay dividends for the foreseeable future, relying on appreciation in the price of its ordinary shares for returns on investment[221]. - The company is subject to potential litigation related to market price volatility, which could divert management's attention and incur substantial expenses[200]. Government and Economic Factors - Changes in government subsidy programs have led to decreased sales, particularly in Taiwan, where a shift in subsidies for gas scooters negatively impacted electric scooter sales[137][142]. - The Taiwanese government plans to phase out gas-powered scooters by 2040, which may create opportunities for increased sales of electric scooters[141]. - The ePTW market relies heavily on government incentives, and any reduction or elimination of these benefits could adversely affect financial results[137]. - In India, the company relies on government incentives like the FAME subsidy, which, if reduced, could dampen product demand and competitiveness[189]. Corporate Governance and Compliance - The company is classified as an emerging growth company, allowing it to take advantage of reduced reporting requirements[222]. - The company has only two members on its audit committee, which does not meet Nasdaq's requirement of at least three members[226]. - The amended and restated memorandum and articles of association may discourage changes in control, affecting market price and shareholder interests[212]. - The company is monitoring market conditions and considering options to address compliance issues with Nasdaq[202].

Financial Data and Key Metrics Changes - Full year revenue for 2024 was $310.5 million, within the previously provided range of $305 million to $315 million [29] - Fourth quarter total revenue was $73 million, down 20.2% year-over-year [35] - Full year total revenue decreased by 11.2% year-over-year [35] - Adjusted EBITDA for the full year was $46.5 million, an increase of $1 million from the previous year [45] - Net loss for the fourth quarter was $71.8 million, an increase from a net loss of $26.7 million in the same quarter last year [42] - Full year net loss was $123.2 million, an increase from a net loss of $76 million last year [43] Business Line Data and Key Metrics Changes - The energy business is expected to break even by 2026, with free cash flow anticipated in 2027 [9][49] - Battery swapping service revenue for the full year was $137.9 million, up 4.6% year-over-year [32] - Sales of hardware and other revenues for the fourth quarter were $37.1 million, down 37% year-over-year [36] - Gross margin for the full year was 2.4%, down from 14.6% last year [37] Market Data and Key Metrics Changes - The overall market for 2-wheelers in Taiwan declined by 13.6% in 2024 [33] - Gogoro maintained a 72% market share of electric scooters despite a slight contraction in the overall 2-wheel market [31] - Electric 2-wheeler sales penetration remained at 10.5% [33] Company Strategy and Development Direction - The company is focusing on three main business priorities: energy business, vehicle business, and international expansion [10] - Plans to streamline operations and reduce costs, with a fixed spending budget reduced by more than 32% from $120 million in 2024 to $82 million in 2025 [22] - Commitment to international expansion with launches in Colombia, Singapore, and Nepal [18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving profitability through a focus on the energy business and cost control measures [54] - The company is optimistic about the demand for sustainable energy solutions and believes it is well-positioned to lead this transformation [27] - Management acknowledged the challenges in the transportation and energy industries but emphasized a commitment to customer experience and profitability [26] Other Important Information - The company received several accolades in 2024, including recognition as Asia Pacific's 1 most Innovative Company by Fast Company [23] - Gogoro's battery swapping ecosystem has saved over 1 million tons of carbon emissions [33] - The company plans to continue upgrading battery packs to improve efficiency and extend battery life [41] Q&A Session Summary Question: Can you provide additional color on your expectation of energy business to breakeven in 2026? - Management stated that with approximately 640,000 subscribers and predictable ARPU, they are confident in breaking even on a non-IFRS basis in 2026 [53][54] Question: What action plans can you implement to raise your stock price back above $1? - Management indicated that stock price reflects market confidence in their strategy and profitability path, and they are exploring various actions to regain compliance by the April 28 deadline [56][57] Question: What underlying growth assumptions are in place to achieve profitability targets? - Management is using conservative growth assumptions for vehicle sales, with targets in line with previous year sales [62][63] Question: How should we size the market potential for energy storage and international expansion? - Management highlighted significant opportunities in energy storage, especially with the push for renewable energy in Taiwan and Southeast Asia [74][75] - They emphasized the need for policy, partners, and patience for successful international expansion [84]