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]