Core Insights - Gogoro has begun deliveries of its new JEGO Smartscooter in Taiwan, achieving over 6,500 fully-paid preorders, indicating the strongest demand for a Gogoro vehicle since the pandemic began [1] - The majority of pre-order customers are first-time electric vehicle (EV) buyers, highlighting a new market segment for Gogoro [1] - Gogoro expects to realize the revenue from JEGO preorders in Q2 2024, as the vehicles are delivered and registered [1] Product Details - The JEGO Smartscooter features a new body design and incorporates many of Gogoro's core vehicle innovations, priced aggressively at USD$760 after government subsidies [2] - A new promotional battery swapping subscription plan is introduced, starting at USD$7 per month for 1,000 km of range when prepaid for 36 months, marking the lowest priced subscription plan ever offered by Gogoro [2] Company Background - Founded in 2011, Gogoro aims to innovate urban energy distribution and consumption, recognized as Asia-Pacific's Most Innovative Company of 2024 and Global Company of the Year for battery swapping for electric two-wheel vehicles [3] - Gogoro's battery swapping and vehicle platforms provide a sustainable ecosystem for urban mobility, leveraging advanced technologies such as artificial intelligence for battery management [3]

TAIPEI, Taiwan, April 18, 2024 /PRNewswire/ -- Gogoro® Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced that it will release its financial results for the first quarter 2024 before markets open on May 9, 2024. Gogoro's management team will hold an earnings Webcast at 8:00 a.m. Eastern Time on Thursday, May 9, 2024 to discuss the Company's financial and business results and outlook. What: Date of Gogoro Q1 202 ...

Taiwan's leading technology companies introduce clean energy solutions for two-wheel riders including the introduction of 15 new GoStations that use 100-percent clean energy; the introduction of Gogoro's GoShare scooter sharing service, and the expansion of the Gogoro Network in TSMC's headquarters city, Hsinchu City.HSINCHU CITY, Taiwan, April 17, 2024 /PRNewswire/ -- Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities a ...

[Introduction](index=6&type=section&id=INTRODUCTION) This section introduces Gogoro Inc., a Cayman Islands holding company, and details its April 2022 merger and Nasdaq listing [Company Overview and Merger](index=6&type=section&id=INTRODUCTION_Summary) Gogoro Inc., a Cayman Islands holding company, completed a merger with Poema Global in April 2022, leading to its Nasdaq listing and U.S. dollar financial reporting - Gogoro Inc. is a Cayman Islands exempted holding company, with consolidated financial statements presented in U.S. dollars[11](index=11&type=chunk) - Gogoro completed a merger with Poema Global Holdings Corp. on **April 4, 2022**, and its ordinary shares began trading on the Nasdaq Stock Exchange on **April 5, 2022**[12](index=12&type=chunk) [Cautionary Statement Regarding Forward-Looking Information](index=7&type=section&id=CAUTIONARY%20STATEMENT%20REGARDING%20FORWARD-LOOKING%20INFORMATION) This section highlights that the annual report contains forward-looking statements subject to known and unknown risks and uncertainties [Forward-Looking Statements and Risk Factors](index=7&type=section&id=CAUTIONARY%20STATEMENT%20REGARDING%20FORWARD-LOOKING%20INFORMATION_Summary) This section highlights that the annual report contains forward-looking statements subject to known and unknown risks and uncertainties, which may cause actual results to differ materially - The report contains forward-looking statements subject to known and unknown risks, uncertainties, and other factors, which may cause actual results to differ materially[13](index=13&type=chunk)[14](index=14&type=chunk) - Important factors that could cause differences include future financial and operating results, business growth, production capabilities, market expansion (India, Indonesia, PRC), dependence on vendors, and ability to develop new products[15](index=15&type=chunk) - Investors are cautioned against placing undue reliance on forward-looking statements and advised to consult the 'Item 3. Key Information—D. Risk Factors' section for detailed risk discussions[16](index=16&type=chunk)[17](index=17&type=chunk)[18](index=18&type=chunk) [Part I](index=9&type=section&id=PART%20I) This part covers key information, company details, operating and financial review, and market risk disclosures [Item 3. Key Information](index=9&type=section&id=ITEM%203.%20KEY%20INFORMATION) This section provides essential information about the company, including a comprehensive overview of its risk factors [D. Risk Factors](index=9&type=section&id=D.%20Risk%20Factors) This section provides a comprehensive overview of the material risks facing Gogoro, categorized into business, ePTW market, technology/IP/privacy, regulatory environment, doing business in Taiwan and India, and ownership of ordinary shares - Gogoro has historically incurred operating losses and expects continued losses in the near and medium term, with a **net loss of $76 million in 2023** and an **accumulated deficit of $426 million** as of December 31, 2023[24](index=24&type=chunk) - Future success is highly dependent on expanding into new geographic markets (e.g., India, Indonesia, PRC) and successful strategic collaborations, which carry risks of underperformance or failure[28](index=28&type=chunk)[29](index=29&type=chunk) - The company relies on a limited number of vendors and suppliers for critical components like battery cells and semiconductors, making it vulnerable to supply chain disruptions and cost increases[50](index=50&type=chunk)[51](index=51&type=chunk)[52](index=52&type=chunk)[62](index=62&type=chunk)[63](index=63&type=chunk) - The ePTW market is characterized by rapid technological change and strong competition, requiring continuous product innovation and adaptation to maintain market share[35](index=35&type=chunk)[103](index=103&type=chunk)[105](index=105&type=chunk)[119](index=119&type=chunk)[120](index=120&type=chunk)[121](index=121&type=chunk) - Operations in Taiwan and India are subject to significant economic, political, and regulatory risks, including geopolitical tensions with mainland China, changes in government subsidies (e.g., FAME subsidy), and evolving environmental and data protection laws[175](index=175&type=chunk)[176](index=176&type=chunk)[177](index=177&type=chunk)[191](index=191&type=chunk)[192](index=192&type=chunk)[195](index=195&type=chunk)[196](index=196&type=chunk)[197](index=197&type=chunk) - The price of Gogoro Ordinary Shares may be volatile due to various factors, and sales of substantial numbers of shares by existing shareholders could cause the market price to fall[203](index=203&type=chunk)[204](index=204&type=chunk)[205](index=205&type=chunk)[208](index=208&type=chunk) [Item 4. Information on the Company](index=40&type=section&id=ITEM%204.%20INFORMATION%20ON%20THE%20COMPANY) This section provides an overview of Gogoro's history, business model, organizational structure, and property, plant, and equipment [A. History and Development of the Company](index=40&type=section&id=A.%20History%20and%20Development%20of%20the%20Company) Gogoro Inc. was incorporated in the Cayman Islands on April 27, 2011, with a mission to accelerate the shift to sustainable urban life through electric fuel adoption - Gogoro Inc. was incorporated as a Cayman Islands exempted company on **April 27, 2011**, with a mission to accelerate the shift to sustainable urban life by eliminating barriers to electric fuel adoption[250](index=250&type=chunk) - The company's principal place of business is located in Taipei City, Taiwan[251](index=251&type=chunk) [B. Business Overview](index=40&type=section&id=B.%20Business%20Overview) Gogoro is an innovative company focused on transforming urban transportation through its Smart & Go battery swapping platform and Smartscooter vehicles, generating revenue from hardware sales and recurring battery subscription services - Gogoro's mission is to accelerate the mass market shift to sustainable urban life by providing smart, convenient, and accessible portable power through its Swap & Go battery swapping platform and Smartscooter vehicles[253](index=253&type=chunk)[254](index=254&type=chunk) - As of December 31, 2023, Gogoro had over **587 thousand monthly subscribers** and more than **2 million GoShare riders**, with over **2,540 battery swapping locations** in Taiwan, delivering over **520 million battery swaps** to date[256](index=256&type=chunk) - The company's business model generates two inter-linked revenue streams: (i) Hardware sales (Gogoro-branded Smartscooters, enabling hardware, battery packs, GoStations) and (ii) recurring battery subscription revenues from Swap & Go services[258](index=258&type=chunk)[259](index=259&type=chunk) - Gogoro's battery swapping network addresses key barriers to ePTW adoption: eliminating range anxiety, saving time, removing the need for dedicated charging locations, prioritizing safety, and making electric riding affordable[257](index=257&type=chunk)[258](index=258&type=chunk) - In Taiwan, Gogoro and its PBGN OEM partners captured **81.9% of the ePTW market share** as of December 31, 2023, with ePTWs growing to **11.9% of total PTWs** since 2015[261](index=261&type=chunk)[267](index=267&type=chunk) - The company is expanding internationally, having introduced its first locally made vehicle in India, opened an Experience Center in the Philippines, and deepened cooperation in South Korea and Singapore[287](index=287&type=chunk) - Gogoro is recognized for its innovation, including being named one of the **Top 15 Climate Companies globally by MIT Technology Review in 2023** and Frost & Sullivan's **2023 Global Company of the Year for battery swapping**[270](index=270&type=chunk) [C. Organizational Structure](index=46&type=section&id=C.%20Organizational%20Structure) Gogoro Inc. operates as a holding company with several significant subsidiaries and branches, including Gogoro Taiwan Limited (manufacturing), Gogoro Network, Taiwan Branch (battery swap services in Taiwan), and Gogoro Network Pte. Ltd. (SaaS licensor and battery swap services outside Taiwan) - Gogoro Inc. is a holding company with key operating entities including Gogoro Taiwan Limited (manufacturing), Gogoro Network, Taiwan Branch (Taiwan battery swap services), Gogoro Network Pte. Ltd. (international SaaS and battery swap services), Gogoro India Private Limited (India sales), Gogoro Taiwan Sales and Services Limited (Taiwan sales), and GoShare Taiwan Limited (Taiwan scooter sharing)[291](index=291&type=chunk)[293](index=293&type=chunk) [D. Property, Plant and Equipment](index=46&type=section&id=D.%20Property,%20Plant%20and%20Equipment) Gogoro's primary facilities are in Taoyuan, Taiwan, housing offices, labs, vehicle manufacturing, and battery pack/motor production, with plans for continued investment in its battery swapping solutions and manufacturing capacity - Gogoro's main facilities are in Taoyuan, Taiwan, covering offices, labs, vehicle manufacturing, and battery/motor production. Additional manufacturing and office spaces were added in India in 2023[294](index=294&type=chunk) Property, Plant and Equipment (as of December 31, 2023) | Asset Category | Value (in thousands of U.S. Dollars) | | :--------------- | :----------------------------------- | | Batteries | $380,273 | | Machinery equipment | $63,083 | | Construction in progress | $46,225 | | Total | $501,876 | - The company plans to invest over **$20 million** in capital expenditure for battery manufacturing facilities in 2024 and expects capital expenditure to remain at historical levels for the next few years to support battery swapping solutions and network expansion[298](index=298&

Gogoro Tops Annual List of Asia-Pacific Companies and Ranks #37 in Fast Company's "World's Most Innovative Companies of 2024" list; Company Joins Innovators such as NVIDIA, YouTube, Taco Bell and othersTAIPEI, Taiwan, March 19, 2024 /PRNewswire/ -- Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today was recognized in Fast Company's prestigious annual ranking, the "World's Most Innovative Companies of 2024" as #37 o ...

Gogoro's broadly deployed battery swapping ecosystem together with JEGO's new design, vehicle innovation and aggressive introductory price creates a new market segment in Taiwan. TAIPEI, Taiwan, March 13, 2024 /PRNewswire/ -- Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced that its new JEGO Smartscooter has achieved strong sales in its first week on the market. JEGO sales reached nearly eight-times G ...

TAIPEI, Taiwan, March 6, 2024 /PRNewswire/ -- Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today announced that it will hold its 2024 Annual General Meeting of Shareholders (the "AGM") at Building C, No. 225, Sec. 2, Chang'an E. Rd., Songshan Dist., Taipei City, Taiwan 105, on the 30th day of May 2024 at 9:30 AM Taipei time. Holders of the Company's ordinary shares listed in the register of members of the Company ...

Gogoro Inc. (NASDAQ:GGR) Q4 2023 Results Conference Call February 7, 2024 7:00 AM ET Company Participants Horace Luke - Chairman of the Board, Chief Executive Officer, Founder Bruce Aitken - Chief Financial Officer Conference Call Participants Long Lin - The Benchmark Company Operator Welcome to the Gogoro Inc. 2023 Q4 earnings call. This conference call is now being recorded and broadcasted live over the Internet. Webcast replay will be available within an hour after the conference is finished. I'd like to ...

Revenue Performance - Fourth quarter revenue of $91.5 million, down 4.1% year-over-year and down 2.8% on a constant currency basis; Full year revenue of $349.8 million, down 8.6% year-over-year and down 4.6% on a constant currency basis[1] - Fourth quarter battery swapping service revenue of $32.5 million, up 3.7% year-over-year and up 6.0% on a constant currency basis; Full year battery swapping service revenue of $131.8 million, up 8.3% year-over-year and up 13.3% on a constant currency basis[1] - Sales of hardware and other revenues for the quarter were $59.0 million, down 7.9% year-over-year, and down 7.1% year-over-year on a constant currency basis[4] - For the full year 2024, the company expects to generate revenue of $385 million to $420 million, with approximately 90% from the Taiwan market and 10% from international markets[11] - Operating revenues for Q4 2023 decreased to $91.53 million from $95.47 million in Q4 2022, a decline of 4.1%[39] - Battery swapping service revenue for Q4 2023 increased to $32.58 million from $31.43 million in Q4 2022, a growth of 3.7%[39] - Total operating revenues for 2023 were $349.846 billion, a decrease of 8.6% YoY, but excluding FX effects, the decrease was 4.6%[45] - Battery swapping service revenue grew by 8.3% YoY to $131.785 billion, and excluding FX effects, the growth was 13.3%[45] Profitability and Margins - Fourth quarter gross margin of 11.0%, down from 15.0% in the same quarter last year; Full year gross margin of 14.4%, down from 15.1% last year[1] - Gross profit for Q4 2023 was $10.10 million, down from $14.33 million in Q4 2022, a decrease of 29.5%[39] - Gross profit for 2023 was $50.445 billion with a gross margin of 14.4%, compared to $57.713 billion and 15.1% in 2022[45] - Non-IFRS gross profit for 2023 was $55.428 billion with a gross margin of 15.8%, compared to $64.354 billion and 16.8% in 2022[45] Net Loss and EBITDA - Fourth quarter net loss of $27.5 million as compared to a net loss of $12.5 million in the same quarter last year; Full year net loss of $76.9 million as compared to a net loss of $98.9 million last year[1] - Fourth quarter adjusted EBITDA of $8.2 million, down from $9.2 million in the same quarter last year; Full year adjusted EBITDA of $44.8 million, up $3.6 million from $41.2 million last year[1] - Net loss for Q4 2023 was $27.54 million, compared to a net loss of $12.53 million in Q4 2022[39] - Net loss for 2023 was $76.868 billion, compared to $98.908 billion in 2022[45] - Non-IFRS net loss for 2023 was $62.526 billion, compared to $63.344 billion in 2022[45] - EBITDA for 2023 was $30.488 billion, a significant improvement from $5.630 billion in 2022[45] - Adjusted EBITDA for 2023 was $44.830 billion, compared to $41.194 billion in 2022[45] Cash Flow and Financial Position - The company generated $59.8 million of operating cash inflow in 2023 compared to 2022 where it used $64.8 million of cash in operations[10] - Cash and cash equivalents decreased from $236.1 million in 2022 to $173.9 million in 2023[36] - Net cash provided by operating activities for 2023 was $59.76 million, compared to a net cash used in operating activities of $64.79 million in 2022[41] - Cash and cash equivalents at the end of 2023 were $173.89 million, down from $236.10 million at the end of 2022[41] Inventory and Assets - Inventories decreased significantly from $114.7 million in 2022 to $53.1 million in 2023[36] - Raw materials inventory decreased from $76.7 million in 2022 to $33.1 million in 2023[37] - Merchandise inventory decreased from $33.5 million in 2022 to $16.4 million in 2023[37] - Total assets decreased from $873.4 million in 2022 to $833.4 million in 2023[36] - Property, plant and equipment increased from $443.0 million in 2022 to $500.9 million in 2023[36] - The company classified $37.4 million of undeployed battery packs and related battery cells in property, plant and equipment[37] Liabilities and Equity - Non-current borrowings increased from $293.2 million in 2022 to $334.6 million in 2023[36] - Current liabilities decreased from $248.2 million in 2022 to $214.1 million in 2023[36] - Total equity decreased from $299.0 million in 2022 to $247.9 million in 2023[36] Operating Expenses - Total operating expenses for Q4 2023 decreased to $34.91 million from $41.86 million in Q4 2022, a reduction of 16.6%[39] - Research and development expenses for Q4 2023 were $9.62 million, down from $12.37 million in Q4 2022, a decrease of 22.2%[39] - Depreciation and amortization expenses for 2023 were $98.377 billion, up from $94.807 billion in 2022[45] Subscribers and Market Expansion - Total subscribers at the end of the fourth quarter exceeded 587,000, up 11.6% from 526,000 subscribers at the end of the same quarter last year[4] - The company has established local manufacturing in India and launched battery swapping services and the first India-made Smartscooter in Delhi[2] Share-Based Compensation - Share-based compensation for 2023 was $26.49 million, down from $37.91 million in 2022[39] - Share-based compensation for 2023 was $26.486 billion, down from $37.907 billion in 2022[45] Comprehensive Loss - Total comprehensive loss for 2023 was $77.57 million, compared to $115.09 million in 2022[39]

Companies to launch Gogoro's Smartscooters and battery swapping for consumers and B2B delivery riders in Chile and Colombia in Q2 2024.SANTIAGO, Chile, Jan. 31, 2024 /PRNewswire/ -- Gogoro Inc. (Nasdaq: GGR), a global technology leader in battery-swapping ecosystems that enable sustainable mobility solutions for cities, today announced it was partnering with leading Latin American energy company, Copec, to launch its battery swapping and Smartscooters in Chile and Colombia in Q2 2024. "Our partnership with ...