Financial Data and Key Metrics Changes - Gogoro generated over $25.7 million in operating cash flow, nearly doubling last year's level, and achieved approximately $21 million in operating expense savings compared to the same period in 2024 [4] - Adjusted EBITDA grew to $47 million over the first nine months of the year, a 25% increase over last year, with an adjusted gross margin of 19.3%, improving by 4.3 percentage points from 2024 [4] - Gross margin improved significantly to 12.2%, up from 5.4% in the same quarter last year, with non-IFRS gross margin reaching 22.2%, up 5.9 percentage points year over year [17] Business Line Data and Key Metrics Changes - Battery swapping service revenue grew 11.5% year over year to $38.9 million, driven by a subscriber base of 657,000 riders, up 5% year over year [13] - Hardware and other revenue was $38.7 million, down 25.5% year over year, primarily due to a 43.7% decline in vehicle sales volume [14] Market Data and Key Metrics Changes - Taiwan's overall two-wheeler market contracted to 196,000 units, the lowest third-quarter level in a decade, with motorcycle retail sales down roughly 9% year over year [16] - Consumer confidence is at its lowest point since early 2024, impacting discretionary spending [16] Company Strategy and Development Direction - Gogoro is focusing on operational efficiency, cost optimization, and product innovation to strengthen its foundation for future growth [4][8] - The company plans to launch three vehicle models in 2026, addressing multiple market segments and exceeding customer expectations [10] - Gogoro aims to achieve Energy network profitability in 2026, generate positive free cash flow from the Energy network business in 2027, and deliver sustained company-wide profitability in 2028 [29] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges in the current market but emphasizes the structural shift towards electrification and the company's readiness to capture future growth [17] - The company is confident in its ability to navigate near-term headwinds while executing for long-term value [8] - Management remains focused on delivering strong operational execution, continued cost discipline, and healthy cash generation [19] Other Important Information - Gogoro's product roadmap is expanding with the launch of the Easy and Easy 500 models, which are expected to lead their categories and contribute to sales volume and margin [6] - The company is developing a new generation of battery packs that will have greater density and lower costs, benefiting customers in cost-sensitive markets [11] Q&A Session Summary Question: What does Henry's appointment as official CEO mean for Gogoro's vision and priorities? - Henry emphasized the importance of fundamentals like products, technology, and execution, and expressed confidence in Gogoro's potential and the need for operational resilience [21][22] Question: What is the company's view on the stock decline following the reverse stock split? - Bruce noted that the decline is a near-term technical reaction and does not reflect the underlying fundamentals of the business, emphasizing the company's focus on long-term value and operational discipline [24][25]

Gogoro (NasdaqGS:GGR) Q3 2025 Earnings Call November 11, 2025 07:00 AM ET Company ParticipantsMichael George Bowen - Head of Investor RelationsHenry Chiang - CEOBruce Aitken - CFOOperatorWelcome to the Gogoro 2025 third quarter earnings call. This conference call is now being recorded and broadcast live over the Internet. Webcast replay will be available within an hour after the conference is finished. I'd like to turn the call over now to the Gogoro team.Michael George BowenWelcome to Gogoro third quarter ...

Financial Data and Key Metrics Changes - Gogoro generated over $25.7 million in operating cash flow, nearly doubling last year's level, and achieved approximately $21 million in operating expense savings compared to the same period in 2024 [5][18] - Adjusted EBITDA grew to $47 million over the first nine months of the year, a 25% increase over last year, with an adjusted gross margin of 19.3%, improving by 4.3 percentage points from 2024 [5][18] - Gross margin improved significantly to 12.2%, up from 5.4% in the same quarter last year, with a non-IFRS gross margin reaching 22.2%, up 5.9 percentage points year over year [17][18] Business Line Data and Key Metrics Changes - Battery swapping service revenue grew 11.5% year over year to $38.9 million, driven by a subscriber base of 657,000 riders, up 5% year over year [14][18] - Hardware and other revenue, including vehicle and component sales, was $38.7 million, down 25.5% year over year, primarily due to a 43.7% decline in vehicle sales volume [15][18] Market Data and Key Metrics Changes - Taiwan's overall two-wheeler market contracted to 196,000 units, the lowest third-quarter level in a decade, with motorcycle retail sales down roughly 9% year over year [15][17] - Consumer confidence in Taiwan is at its lowest point since early 2024, impacting both gasoline and electric motorcycles [15][17] Company Strategy and Development Direction - Gogoro is focusing on operational efficiency, cost optimization, and product innovation to strengthen its foundation for future growth [5][8] - The company plans to launch three vehicle models in 2026, addressing multiple market segments and exceeding customer expectations [10] - Gogoro aims to achieve Energy network profitability in 2026, generate positive free cash flow from the Energy network business in 2027, and deliver sustained company-wide profitability in 2028 [32] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges in the current market but emphasizes the structural shift towards electrification and the company's readiness to capture that transition [17][18] - The company remains confident in its ability to deliver sustainable profitability, supported by operational improvements and a strong product portfolio [20][32] Other Important Information - Gogoro is developing a new generation of battery packs that will have greater density, improved manufacturability, and lower costs, compatible with existing battery packs [12] - The company is investing in vehicle, battery, and ecosystem developments to capitalize on the momentum of electrification [9] Q&A Session Summary Question: What does Henry's appointment as official CEO mean for Gogoro's vision and priorities? - Henry emphasized the importance of operational resilience and focusing on sustainable long-term value while continuing to innovate in products and technology [22][24] Question: Concerns regarding stock decline after the reverse stock split? - Management noted that the stock decline is a typical short-term reaction and does not reflect the underlying fundamentals of the business, expressing confidence in future growth opportunities [27][28]