Taipei, Taiwan-based Gogoro (NASDAQ:GGR), the pioneer in smart battery swapping and electric two-wheeler ecosystems, reported financial results for the fourth quarter and full year ended December 31, 2025, highlighting improved profitability metrics and operational efficiency despite a revenue decline.
Full-year revenue totaled $281.5 million, down 9.4% year-over-year, reflecting ongoing market challenges and strategic focus on higher-quality growth.
Adjusted EBITDA achieved a record $59.9 million, demonstrating significant progress in cost discipline and operational leverage.
The net loss narrowed sharply to $80.8 million from $122.8 million in 2024.
Battery swapping subscribers grew to 665,000, underscoring continued adoption of Gogoro’s smart battery exchange network.
Gross margin improved to 8.3% (non-IFRS gross margin rose to 19.5%), driven by completed battery upgrades, inventory optimization, and cost controls.
Operating cash flow increased to $31.1 million from $9.9 million in the prior year.
The company plans new product launches and expects operational leverage to support growth in 2026, with continued emphasis on expanding its battery swapping infrastructure and ecosystem partnerships.