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]

Revenue Performance - Fourth quarter revenue was $73.0 million, down 20.2% year-over-year, and full year revenue was $310.5 million, down 11.2% year-over-year[4]. - Fourth quarter battery swapping service revenue was $35.9 million, up 10.2% year-over-year, and full year battery swapping service revenue was $137.9 million, up 4.6% year-over-year[4]. - Operating revenues for Q4 2024 were $73.0 million, a decrease of 20.3% from $91.5 million in Q4 2023[46]. - Total revenue for the year ended December 31, 2024, was $310,518 million, a decrease of 11.2% year-over-year[54]. - Sales of hardware and others for Q4 2024 were $37,116 million, down 37.0% year-over-year[54]. Profitability and Loss - Fourth quarter net loss was $71.8 million, an increase of $45.1 million from a net loss of $26.7 million in the same quarter last year; full year net loss was $123.2 million, up from $76.0 million[13][14]. - Net loss for the year ended December 31, 2024, was $(123.2) million, compared to a net loss of $(76.0) million in 2023, representing a 62.1% increase in losses[48]. - Non-IFRS net loss for the year ended December 31, 2024, was $(62,082) million, compared to $(61,858) million in 2023[54]. - Adjusted EBITDA for Q4 2024 was $(44,876) million, compared to $763 million in Q4 2023[54]. - Fourth quarter adjusted EBITDA was $8.8 million, down from $9.0 million in the same quarter last year; full year adjusted EBITDA was $46.5 million, up from $45.5 million[15]. Cost and Expenses - Total operating expenses increased to $61.9 million in Q4 2024, up from $36.5 million in Q4 2023, primarily due to a $32.6 million impairment charge[46]. - The company incurred $34.0 million in impairment charges during Q4 2024 as part of its annual impairment test[46]. - Share-based compensation expenses totaled $13.3 million for the year, down from $26.3 million in 2023[48]. - Battery upgrade initiatives accounted for $32,255 million in costs for the year ended December 31, 2024[54]. Assets and Liabilities - Gogoro's total assets decreased from $834.2 million in 2023 to $703.3 million in 2024, a decline of approximately 15.7%[43]. - Current assets fell from $266.1 million in 2023 to $202.0 million in 2024, representing a decrease of about 24.1%[43]. - Total liabilities decreased from $585.5 million in 2023 to $525.6 million in 2024, a reduction of approximately 10.2%[43]. - The company's total equity dropped from $248.7 million in 2023 to $177.7 million in 2024, reflecting a decline of about 28.6%[43]. - Gogoro's cash and cash equivalents decreased from $173.9 million in 2023 to $117.1 million in 2024, a decline of approximately 32.6%[43]. Future Outlook - The company expects 2025 revenue to be between $295 million to $315 million on a constant currency basis, reflecting the Taiwan market conditions[18]. - Gogoro's battery swapping service revenue is anticipated to exceed vehicle sales revenue on a full year basis for the first time in 2025[10]. - The company plans to achieve approximately $25 million in savings in 2025 as a result of cost efficiency plans[17]. - Gogoro aims for its battery swapping business to reach profitability on a non-IFRS basis by 2026 and hardware sales to achieve profitability by 2028[17]. Customer Experience and Initiatives - The company plans to enhance customer experience through a one-time customer care package, which includes extended warranties and software upgrades[35]. - Gogoro's battery upgrade initiatives aim to improve battery capacity and extend the useful life of certain battery packs, with costs recorded under Cost of Revenues[33]. - The company is focused on expanding its market presence and enhancing operational efficiencies to drive future profitability[22]. Miscellaneous - Gogoro issued 32,516,095 ordinary shares at $1.5377 per share, raising $50.0 million in June 2024[50]. - The company recognized $2.5 million in losses on disposals of property, plant, and equipment in 2024[46]. - Gross margin for the fourth quarter was (8.1)%, down from 11.6% in the same quarter last year; full year gross margin was 2.4%, down from 14.6% last year[8][12]. - Gross loss for Q4 2024 was $(5.9) million, compared to a gross profit of $10.6 million in Q4 2023[46]. - Interest expense for the year ended December 31, 2024, was $10,865 million, up from $8,979 million in 2023[54].

Core Insights - Gogoro Inc. experienced a transformative year in 2024, focusing on realigning resources and streamlining operations to enhance long-term growth and profitability [3][18] - The company's energy business revenue surpassed vehicle sales for the first time, indicating a strategic shift towards battery swapping services and energy solutions [3][9] - Despite challenges, Gogoro's battery swapping service revenue grew, reflecting a robust subscription model and increasing market share in the electric scooter segment [3][9] Financial Overview - Fourth quarter total revenue was $73.0 million, a decrease of 20.2% year-over-year, while full year revenue was $310.5 million, down 11.2% year-over-year [4][5] - Gross margin for the fourth quarter was (8.1)%, down from 11.6% in the same quarter last year, primarily due to costs associated with battery upgrades and lower-margin product sales [6][9] - The 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; full year net loss was $123.2 million, up from $76.0 million [13][14] Revenue Breakdown - Battery swapping service revenue for the fourth quarter was $35.9 million, up 10.2% year-over-year, while full year revenue reached $137.9 million, an increase of 4.6% year-over-year [9][10] - Sales of hardware and other revenue for the fourth quarter was $37.1 million, down 37.0% year-over-year, with full year sales at $172.6 million, down 20.8% year-over-year [10][9] Cost Management and Efficiency Plans - The company recognized $38 million in accounting charges related to business simplification and restructuring, impacting financial results significantly [3][18] - Cost reduction initiatives are expected to yield approximately $25 million in savings for 2025, with a focus on operational efficiency and realignment [18][19] Market Position and Future Outlook - Gogoro maintained a 72% market share in the electric scooter market despite a slight contraction in the overall electric two-wheel market [3][9] - For 2025, the company anticipates revenue between $295 million to $315 million, with ongoing pressure on gross margins due to battery upgrade initiatives [19][9]

Group 1 - Gogoro Inc. will release its financial results for Q4 2024 and the full year on February 13, 2025, before market opening [1][2] - An earnings webcast will be held at 7:00 a.m. Eastern Time on the same day to discuss financial and business results [1][2] - An archived version of the webcast will be available approximately 24 hours after the session for two weeks [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 AI-driven cloud services to enhance urban mobility [3]

Financial Data and Key Metrics Changes - Total revenue for Q3 2024 was $86.9 million, down 5.3% year-over-year and down 3.4% year-over-year on a constant currency basis [26][41] - Net loss for Q3 2024 was $18.2 million, an increase of $15.1 million from a net loss of $3.1 million in the same quarter last year [35] - Gross margin was 5.4%, down from 18.3% in the same quarter last year, while non-IFRS gross margin was 14.7%, down from 19.2% [31] Business Line Data and Key Metrics Changes - Battery swapping service revenue for Q3 was $34.9 million, up 3.8% year-over-year and up 6% year-over-year on a constant currency basis [27] - Total subscribers at the end of Q3 exceeded 626,000, up 9.6% from 578,000 subscribers at the end of the same quarter last year [27] - Sales of hardware and other revenues for Q3 were $52 million, down 10.6% year-over-year [28] Market Data and Key Metrics Changes - Total number of registered electric scooters in Q3 in Taiwan was 23,837 vehicles, up 14.5% from 20,815 in Q3 2023 [23] - Gogoro branded vehicle registrations were 15,551, up 1.6% from Q3 2023, while powered by the Gogoro network vehicle registrations were 16,444, making Gogoro based vehicles 69% of total electric two-wheeled vehicle sales in Q3 2024 [23] - The overall market for two-wheelers in Taiwan declined by 11.4% versus Q3 of 2023 [23] Company Strategy and Development Direction - The company is focused on establishing a profitable business over time, emphasizing revenue growth, cost management, and intentional future investments [14] - Gogoro aims to enhance customer experience and prioritize key expansion markets, particularly in India and Southeast Asia [18][19] - The company is committed to reestablishing a strong strategic mission and executing plans to deliver future value for customers, partners, investors, and employees [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged that Q3 presented unexpected challenges but also an opportunity to reevaluate business strengths and priorities [9] - The company expects to generate between $305 million to $315 million in revenue for 2024, adjusting guidance due to a softer two-wheeler market in Taiwan [41] - Management is focused on improving gross margins and operational efficiency through various cost-saving initiatives [40] Other Important Information - The company received a NASDAQ Listing Compliance Notice and is committed to regaining compliance within 180 days [7] - Gogoro is undergoing a government inquiry regarding the potential use of imported parts in vehicle models, which the company is addressing [10][12] Q&A Session Summary Question: What possible action plans will you implement to raise your stock price back above $1? - The company plans to take necessary steps to regain compliance with NASDAQ listing requirements, focusing on business fundamentals to naturally raise the stock price [42][43] Question: Is there a solid plan to address negative press and sales weakness? - Management emphasized a shift in mindset and a clear vision to focus on profitability, customer experience, and prioritizing key expansion markets [44] Question: Can Taiwan operations become a double-digit margin business over the next couple of years? - The company is working on various cost reduction programs and believes the Gogoro network business is healthy, but vehicle sales reductions impact overall margins [46][48] Question: Are there any plans to allow customers to own and buy their own battery system? - The company is open to new business models but has not actively pursued allowing customers to own batteries [49][51] Question: Can you give an update on India? - The company is running pilot programs in India and is working closely with potential partners to roll out Go stations and vehicles, while also engaging with the government on subsidy programs [52][53]

Financial Performance - Total revenue for Q3 2024 was $86.9 million, down 5.3% year-over-year and down 3.4% on a constant currency basis[5]. - Net loss for Q3 2024 was $18.2 million, compared to a net loss of $3.1 million in the same quarter last year[9]. - Adjusted EBITDA for Q3 2024 was $14.1 million, an increase from $13.1 million in the same quarter last year[10]. - Operating revenues for Q3 2024 were $86,856 million, a decrease of 5.1% from $91,750 million in Q3 2023[45]. - Gross profit for Q3 2024 was $4,679 million, down 72.1% from $16,783 million in Q3 2023[45]. - Total operating revenues for Q3 2024 were $86,856 million, a decrease of 5.3% year-over-year compared to $91,750 million in Q3 2023[53]. - Non-IFRS net loss for Q3 2024 was $(12,210) million, slightly improved from $(13,203) million in Q3 2023[53]. - Total comprehensive loss for the nine months ended September 30, 2024, was $58,293 million, slightly improved from $60,623 million in the same period of 2023[45]. Revenue Streams - Battery swapping service revenue increased to $34.9 million, up 3.8% year-over-year and up 6.0% on a constant currency basis[5]. - Sales of hardware and others for the nine months ended September 30, 2024, were $135,510 million, a decline of 14.8% year-over-year[53]. - Battery upgrade initiatives incurred costs of $7,645 million in Q3 2024, with no costs reported in Q3 2023[53]. Subscriber and Order Metrics - The number of accumulated subscribers reached over 625,000, a 9.6% increase from 570,000 subscribers in the same quarter last year[5]. - The company has approximately 3,800 backlog orders for vehicles, which will not be recognized as revenue until delivery in Q4 2024[5]. - The company has a backlog of orders recorded as contract liabilities, which are not recognized as revenue until delivery[24]. Cost Management and Guidance - Updated guidance for full-year revenue is now expected to be between $305 million to $315 million, lower than previously anticipated[16]. - The company plans to implement cost reduction and efficiency plans starting in Q4 2024, extending into 2025[14]. - Total operating expenses in Q3 2024 were $29,197 million, a reduction of 20.5% compared to $36,707 million in Q3 2023[45]. Assets and Liabilities - As of September 30, 2024, Gogoro's total assets amounted to $819.6 million, a decrease from $834.2 million on December 31, 2023[42]. - The company's cash and cash equivalents decreased to $119.2 million from $173.9 million as of December 31, 2023[42]. - Gogoro reported total current liabilities of $212.9 million, slightly down from $214.1 million at the end of 2023[42]. - The total equity of Gogoro increased to $253.6 million from $248.7 million as of December 31, 2023[42]. - Gogoro's inventories rose to $57.7 million as of September 30, 2024, compared to $53.1 million at the end of 2023[43]. - The company set aside a $55.1 million surety deposit with its lead bank, expected to be released before December 31, 2024[43]. Shareholder Information - The company issued 32,516,095 ordinary shares to Gold Sino for $50 million and 16,887,328 ordinary shares to Castrol for $25 million in 2024[49][50]. Financial Reporting and Adjustments - Gogoro's financial statements are prepared in accordance with IFRS, with unaudited condensed consolidated financial statements reflecting necessary adjustments[23]. - The company emphasizes the importance of non-IFRS financial measures for evaluating ongoing operating results and trends[38]. - Gogoro's non-IFRS net loss excludes share-based compensation and other adjustments, providing a clearer view of operational performance[30]. - Share-based compensation expenses totaled $10,776 million for the nine months ended September 30, 2024, down from $22,325 million in the same period of 2023[47]. - Cash generated from operating activities for the nine months ended September 30, 2024, was $13,262 million, down from $31,490 million in the same period of 2023[47]. - Interest expense for the nine months ended September 30, 2024, was $7,756 million, compared to $6,594 million in the same period of 2023[53].

Core Insights - Gogoro Inc. reported a total revenue of $86.9 million for Q3 2024, reflecting a 5.3% decrease year-over-year and a 3.4% decrease on a constant currency basis [2][4] - The company experienced a net loss of $18.2 million, significantly higher than the net loss of $3.1 million in the same quarter last year [12] - Gogoro's battery swapping service revenue increased by 3.8% year-over-year to $34.9 million, driven by a growing subscriber base [5][12] Financial Performance - Total revenue for Q3 2024 was $86.9 million, down from $91.8 million in Q3 2023, with hardware sales contributing $52.0 million, a decline of 10.6% year-over-year [2][6] - Gross margin fell to 5.4%, down from 18.3% in the same quarter last year, primarily due to increased costs associated with battery upgrades and lower average selling prices [9][12] - Adjusted EBITDA for Q3 2024 was $14.1 million, an increase from $13.1 million in the same quarter last year, attributed to reduced operating expenses [13] Subscriber Growth - Gogoro ended Q3 2024 with over 625,000 subscribers, a 9.6% increase from 570,000 subscribers in the same quarter last year [5][12] - The increase in battery swapping service revenue was largely due to the larger subscriber base and high retention rates [5] Backlog Orders - The company reported approximately 3,800 backlog orders for vehicles in Q3 2024, which will not be recognized as revenue until delivery [2][4] - Had these backlog orders been delivered, Gogoro's year-over-year sales volume growth rate would have been 26.5% [8] Strategic Initiatives - Gogoro is focusing on enhancing customer experience through various programs, including battery upgrades and extended warranty programs [15] - The company is developing cost reduction and efficiency plans aimed at improving profitability and operational efficiency, expected to begin in Q4 2024 [16] Market Challenges - Gogoro faced challenges including a Nasdaq Listing Compliance Notice, the resignation of its CEO, and a government inquiry regarding the use of imported parts [3][12] - The overall performance of the two-wheeler market in Taiwan was softer than anticipated, prompting a revision of revenue expectations for 2024 to between $305 million and $315 million [18]

Core Insights - Gogoro is expanding its battery swapping ecosystem in Latin America through partnerships with Copec in Santiago, Chile, and Terpel in Bogota, Colombia, aiming to provide sustainable transportation alternatives [1][2] - Copec is committed to leading the energy transition towards carbon neutrality by developing urban charging infrastructure and transitioning to electric and hybrid vehicles over the next decade [2] - The Gogoro battery swapping platform is recognized as the leading two-wheel battery swapping solution globally, with significant operational metrics in Taiwan, including nearly 650,000 riders and over 1.3 million smart batteries in circulation [4] Company Overview - Copec operates over 3,000 service stations and retail stores across Latin America, including the largest electric charging network for EVs in South America, with 1,800 kilometers of extension in Chile [5] - Gogoro, founded in 2011, focuses on innovative urban energy solutions and has received multiple accolades for its contributions to sustainable transportation and battery swapping technology [6] Ecosystem Features - The Gogoro ecosystem includes a subscription-based energy model tailored to individual rider needs, catering to both daily commuters and logistics clients seeking cleaner transportation options [3] - The battery swapping stations are strategically located across Santiago, ensuring convenient access for riders in various boroughs [2]

Core Viewpoint - Gogoro Inc. has received a notification from Nasdaq indicating that its ordinary shares have been below the minimum bid price of US$1.00 for the last 30 consecutive business days, but this does not currently affect the listing or trading of its shares [1][2][3] Compliance Period - The company has a compliance period of 180 calendar days, until April 28, 2025, to regain compliance with Nasdaq Listing Rules [2] - If the closing bid price reaches US$1.00 or higher for at least ten consecutive business days during this period, Nasdaq will confirm compliance [2] - If compliance is not regained by the deadline, the company may apply for an additional 180-day compliance period by transferring its listing to the Nasdaq Capital Market, provided it meets other listing requirements [2] Business Operations - The Nasdaq notification does not impact the company's business operations, and Gogoro will take reasonable measures to regain compliance within the grace period [3] Company Overview - Gogoro, founded in 2011, focuses on sustainable urban mobility solutions through battery swapping ecosystems [4] - The company has received multiple recognitions, including being named a "Change the World 2024" company by Fortune and "Asia-Pacific's Most Innovative Company of 2024" by Fast Company [4] - Gogoro is recognized as a leader in vehicle design, electric propulsion, and smart battery technology, aiming to disrupt traditional urban transportation [4]