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Dec 31, 2025
Gogoro Q4 2025 Earnings Report
Gogoro reported fourth quarter 2025 revenue of $74.4 million with improved gross margin of 14.3% and reduced net loss of $20.8 million.
Key Takeaways
Gogoro delivered Q4 2025 revenue of $74400000, up 1.7% year-over-year, driven by growth in battery swapping services. Gross margin improved significantly to 14.3% and non-IFRS gross margin reached 20.1%, while net loss narrowed to $20800000. Adjusted EBITDA increased to $12900000, reflecting stronger operational efficiency despite continued softness in vehicle sales.
Revenue increased 1.7% year-over-year to $74400000, led by battery swapping service growth.
Gross margin improved to 14.3% from negative 7.4% in the prior year quarter.
Net loss narrowed to $20800000 compared to $71300000 last year.
Adjusted EBITDA rose to $12900000 from $7000000 in Q4 2024.
Revenue by Segment
Forward Guidance
For 2026, Gogoro expects revenue between $285000000 and $305000000, with approximately 95% generated from Taiwan, and anticipates the battery swapping business to achieve non-IFRS profitability.
Positive Outlook
- 2026 revenue guidance range of $285000000 to $305000000.
- Battery swapping business expected to achieve non-IFRS profitability in 2026.
- Approximately 95% of revenue expected from core Taiwan market.
- Continued operational leverage and efficiency gains anticipated.
- New product launches planned to support growth.
Challenges Ahead
- Taiwan two-wheeler market remains soft entering 2026.
- Revenue recovery expected to be modest.
- Hardware sales business non-IFRS profitability not expected until 2028.
- Exposure to foreign exchange fluctuations.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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