Gogoro Q3 revenue falls 9.1% to $70.6 million

Gogoro (NASDAQ:GGR) reported third-quarter 2026 revenue of US$70.6 million, down 9.1% year-over-year, while gross margin improved to 24.4% from 12.2%.

Battery-swapping revenue declined 4.7% to US$37.1 million, while hardware and other revenue fell 13.5% to US$33.5 million.

Net loss narrowed to US$3.4 million from US$14.9 million, although adjusted EBITDA declined to US$19 million from US$20.2 million.

Nine-month operating cash inflows increased 8.8% to US$27.9 million, while September-end cash reached US$68.9 million, including a US$16.7 million equity investment, followed by another US$61.8 million in equity proceeds in October.

Gogoro revised its full-year 2026 revenue outlook to US$270 million–US$290 million, with approximately 95% of expected revenue coming from Taiwan, while projecting positive free cash flow in 2027 and profitability in 2028.

The company also expanded its international operations through its Castrol joint venture, which established a presence in Vietnam and increased battery-swapping infrastructure in Ho Chi Minh City.

Gogoro develops electric two-wheel vehicles and battery-swapping technology, operating a network that allows riders to exchange depleted batteries for charged ones instead of waiting for conventional charging.