Revenue growth remains under pressure with a 1.1% year-over-year contraction in 2026Q1, while operating margins continue to languish at -8.1% due to high fixed costs.
| Sales/Revenue | 280.77M | 281.48M | 310.64M | 349.85M | 382.83M | 366.01M | 364.13M | 439.24M |
| Revenue Growth % | -7.81% | -9.39% | -11.21% | -8.61% | 4.59% | 0.52% | -17.1% | - |
| Cost of Goods Sold | 247.9M | 258.32M | 302.71M | 298.91M | 325.11M | 304.92M | 284.68M | 346.03M |
| COGS % of Revenue | - | 91.77% | 97.45% | 85.44% | 84.92% | 83.31% | 78.18% | 78.78% |
| Gross Profit | 32.88M | 23.16M | 7.93M | 50.94M | 57.71M | 61.09M | 79.44M | 93.21M |
| Gross Margin % | 11.71% | 8.23% | 2.55% | 14.56% | 15.08% | 16.69% | 21.82% | 21.22% |
| Gross Profit Growth % | - | 192.03% | -84.43% | -11.74% | -5.52% | -23.1% | -14.77% | - |
| Operating Expenses | 77.33M | 79.6M | 149.55M | 139.31M | 356.04M | 118.41M | 115.94M | 104.3M |
| OpEx % of Revenue | - | 28.28% | 48.14% | 39.82% | 93% | 32.35% | 31.84% | 23.75% |
| Selling, General & Admin | 58.31M | 60.42M | 75.93M | 95.42M | 131.25M | 87.81M | 87.23M | 77.08M |
| SG&A % of Revenue | - | 21.46% | 24.44% | 27.27% | 34.28% | 23.99% | 23.96% | 17.55% |
| Research & Development | 19.41M | 25.4M | 34.94M | 40.87M | 45.99M | 30.6M | 28.71M | 27.22M |
| R&D % of Revenue | - | 9.02% | 11.25% | 11.68% | 12.01% | 8.36% | 7.88% | 6.2% |
| Other Operating Expenses | 1.98M | -6.21M | 38.68M | 3.03M | 178.8M | 0 | 0 | 0 |
| Operating Income | -44.46M | -56.45M | -141.62M | -88.37M | -298.33M | -57.32M | -36.5M | -11.1M |
| Operating Margin % | -15.83% | -20.05% | -45.59% | -25.26% | -77.93% | -15.66% | -10.02% | -2.53% |
| Operating Income Growth % | - | 60.14% | -60.25% | 70.38% | -420.48% | -57.04% | -228.94% | - |
| EBITDA | 45.05M | 34.48M | -44.61M | 10M | -203.52M | 37.5M | 42.07M | 46.07M |
| EBITDA Margin % | 16.04% | 12.25% | -14.36% | 2.86% | -53.16% | 10.25% | 11.55% | 10.49% |
| EBITDA Growth % | 216.04% | 177.29% | -545.93% | 104.92% | -642.71% | -10.86% | -8.69% | - |
| D&A (Non-Cash Add-back) | 89.5M | 90.93M | 97.01M | 98.38M | 94.81M | 94.82M | 78.57M | 57.17M |
| EBIT | -54.83M | -65.33M | -108.62M | -64.11M | -87.14M | -56.27M | -40.59M | -3.04M |
| Net Interest Income | -14.8M | -12.8M | -11.06M | -8.98M | -9.73M | -10.46M | -8.87M | -4.86M |
| Interest Income | 0 | 1.84M | 3.08M | 2.95M | 2.94M | 625K | 889K | 4.18M |
| Interest Expense | 14.8M | 14.64M | 14.13M | 11.93M | 12.67M | 11.09M | 9.75M | 9.03M |
| Other Income/Expense | -24.83M | -23.52M | 18.86M | 12.34M | 199.42M | -10.04M | -13.84M | -978K |
| Pretax Income | -69.29M | -79.97M | -122.75M | -76.04M | -98.91M | -67.36M | -50.34M | -12.07M |
| Pretax Margin % | -24.68% | -28.41% | -39.52% | -21.73% | -25.84% | -18.4% | -13.83% | -2.75% |
| Income Tax | 0 | 0 | 0 | 0 | 2K | 0 | -1.06M | 1.01M |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | -0% | 0% | 2.11% | -8.4% |
| Net Income | -69.29M | -79.97M | -122.75M | -76.04M | -98.91M | -67.36M | -49.28M | -13.09M |
| Net Margin % | -24.68% | -28.41% | -39.52% | -21.73% | -25.84% | -18.4% | -13.53% | -2.98% |
| Net Income Growth % | 45.95% | 34.85% | -61.44% | 23.12% | -46.83% | -36.69% | -276.53% | - |
| Net Income (Continuing) | -69.29M | -79.97M | -122.75M | -76.04M | -98.91M | -67.36M | -49.28M | -13.09M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -4.36 | -0.27 | -9.20 | -6.40 | -9.00 | -10.60 | -5.40 | -1.07 |
| EPS Growth % | 63.2% | 97.07% | -43.75% | 28.89% | 15.09% | -96.3% | -403.73% | - |
| EPS (Basic) | - | -0.27 | -9.20 | -6.40 | -9.00 | -10.60 | -5.40 | -1.07 |
| Diluted Shares Outstanding | 15.89M | 295.1M | 13.25M | 11.74M | 11.1M | 6.3M | 8.98M | 12.21M |
| Basic Shares Outstanding | 15.89M | 295.1M | 13.25M | 11.74M | 11.1M | 6.3M | 8.98M | 12.21M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Persistent operating losses
As indicated by the most recent quarterly financial data, Gogoro's revenue has experienced a persistent decline, with a 1.1% year-over-year contraction in 2026Q1, suggesting that the company's core Taiwan market may be reaching a point of saturation or experiencing significant headwinds from shifting consumer demand cycles.
The consistent downward trend in top-line performance highlights the difficulty of maintaining growth in a hardware-dependent model sensitive to subsidy fluctuations. Investors should monitor whether the pivot toward international partnerships can offset the erosion of the domestic revenue base, as current figures suggest a lack of organic growth momentum.
Based on reported income statements, Gogoro's gross margin has exhibited extreme volatility, ranging from a low of -7.4% in 2024Q4 to a recent peak of 20.4% in 2026Q1, reflecting the inherent instability of a business model heavily reliant on capital-intensive battery infrastructure and cyclical vehicle sales.
The wide variance in gross profitability suggests that the company lacks consistent pricing power and remains highly susceptible to fluctuations in raw material costs and depreciation schedules. The recent margin expansion warrants further investigation to determine if it stems from sustainable operational efficiencies or temporary accounting adjustments.
According to the provided financial statements, Gogoro continues to struggle with operating leverage, as evidenced by a -8.1% operating margin in 2026Q1, which indicates that the company has yet to achieve the necessary scale to cover its substantial fixed costs and infrastructure-related overhead expenses.
Despite efforts to manage SG&A, the company's inability to scale operating income alongside gross profit suggests that the current business model is fundamentally burdened by its physical asset footprint. This persistent operating deficit implies that the company remains reliant on external financing to sustain its ongoing expansion efforts.
Financial disclosures reveal a concerning pattern of persistent net losses, with a net margin of -12.5% in 2026Q1, which may lead skeptics to argue that the company's battery-swapping network is a capital-intensive liability rather than a sustainable competitive advantage in a rapidly evolving electric mobility landscape.
The reliance on external capital to fund operations in a high-interest-rate environment poses a significant threat to the company's long-term viability. Investors should be wary of the potential for technological obsolescence, as any shift in battery chemistry could render the existing, expensive swap station network obsolete and financially unrecoverable.
Quick answers to the most common questions about buying GGR stock.
For fiscal year 2025, Gogoro Inc. (GGR) reported total revenue of $281.5M. This represents a 35.9% decline compared to $439.2M in 2019.
Gogoro Inc. (GGR) reported a net loss of $80.0M for the fiscal year ending 2025.
Gogoro Inc. (GGR) reported an operating income of $-56.4M, resulting in an operating profit margin of -20.1%. This margin reflects the operational efficiency of the business before interest and taxes.
Gogoro Inc. (GGR) generated $23.2M in gross profit for the year, representing a gross profit margin of 8.2%. This demonstrates the company's core pricing power and production efficiency.