Financial Data and Key Metrics Changes - Gogoro achieved a record-high full-year adjusted EBITDA of $59.9 million, up from $44.7 million in 2024 [4] - Operating cash flow increased more than three times year-over-year to $31.1 million [5] - Gross margin improved to 8.3%, up from 2.6% in 2024, while non-IFRS margin reached 19.5%, up from 14.9% [5][20] - For the full year 2025, total revenue was $281.5 million, a 9.4% decline year-over-year [16][18] - Net loss narrowed to $80.8 million, down from $122.8 million in the previous year [20][21] Business Line Data and Key Metrics Changes - Battery swapping revenue grew 8.1% to $149 million, demonstrating the strength of the subscription model [18] - Hardware revenue was $132.5 million, down 23.3% due to a substantial drop in vehicle sales [18][19] - Vehicle volumes reflected a strategic tightening, with Gogoro accounting for 28,176 units, or 57% of all electric vehicles [15] Market Data and Key Metrics Changes - The Taiwan scooter market declined for the second consecutive year to 708,392 units, down 5.9% year-over-year [14] - Gogoro maintained leadership in the electric scooter segment, accounting for 68% of the overall electric two-wheeler market [15] Company Strategy and Development Direction - The company focused on operational efficiency and sustainability, prioritizing long-term goals over short-term results [4] - Plans for 2026 include launching new products and expanding the battery swapping network [9][10] - The strategy emphasizes value creation in both energy and vehicle businesses, with a focus on high-value segments [9][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in 2025 but emphasized the importance of establishing a solid foundation for future growth [4][13] - The company expects new products and operational leverage to drive continued cash flow and set the path towards profitability in 2026 [16][23] - Management is confident in achieving profitability in the energy business by the end of 2026 [32] Other Important Information - The company secured an $80 million equity investment commitment for 2026 from its largest shareholder [22] - A new scooter model specifically engineered for durability and performance is set to launch in Vietnam [12] Q&A Session Summary Question: How should we think about your strategy for the scooter business, which appears to be underperforming? - Management emphasized the need for stabilization and execution, focusing on selective models and aligning investments with returns [25][26] Question: Can you sustain the level of OpEx savings, and can we expect ongoing improvements in gross margin? - Management acknowledged the hard work on cost savings in 2025 but indicated that replicating the same level of savings in 2026 would be challenging [27][28]