Gogoro Reports $70.6 Million in Revenue and $0.17 Per-Share Loss in Third Quarter
Key Facts
Gogoro reported revenue of $70.6 million in the third quarter of 2026, down 9.1% year over year and 2.9% on a constant-currency basis, and a basic and diluted loss of $0.17 per share. The results cover the three months ended September 30, 2026. The figures showed sales declining from a year earlier, despite an improvement in net loss during the period. The company said foreign-exchange rates affected the year-over-year comparison. GGR shares closed at $2.82 on November 10, according to EL7 data.
Net loss was $3.4 million, compared with $14.9 million in the third quarter of 2025, a decrease of $11.5 million. Gogoro attributed the improvement mainly to higher gross profit and lower battery upgrade costs, alongside a better product mix and greater network efficiency. This means lower revenue coincided with a narrower net loss, reflecting the operating factors cited by the company. Adjusted earnings before interest, taxes, depreciation and amortization, meanwhile, were $19.0 million, compared with $20.2 million a year earlier. The adjusted measure put the period's performance below its year-earlier level, despite the improvement in net loss.
Gogoro said revenue would have been $4.8 million higher absent foreign-exchange movements, compared with average exchange rates in the same period a year earlier. On a constant-currency basis, revenue fell 2.9%, versus a 9.1% decline on a reported basis. The comparison distinguishes sales performance after excluding the effect of foreign exchange from their value in dollars. The company's revenue was also $70.6 million in the second quarter of 2026, when it had risen 7.3% year over year and 10.0% on a constant-currency basis. The comparison shows revenue changing direction between the two quarters, from year-over-year growth in the second quarter to a decline in the third.
On operating liquidity, cash inflows from operations for the nine months ended September 30, 2026, rose 8.8% to $27.9 million from $25.7 million in the corresponding period of 2025. These figures cover a longer period than the third-quarter results and are not limited to the three months alone. In the second quarter, net loss was $4.9 million, compared with a loss of $26.5 million in the corresponding period of 2025, a year-over-year decrease of $21.6 million. The company also said gross profit margin in that quarter was 22.6%, its highest quarterly level in more than five years. Those earlier quarterly results provide context for Gogoro's progress in narrowing losses during 2026.
After its second-quarter results, Gogoro said it expected 2026 revenue of between $285 million and $305 million, and expected its battery-swapping network business to be profitable on a non-IFRS basis in the same year, with its hardware business reaching profitability in 2028. In its second-quarter update, the company said its market share had risen to 6% from 2% earlier in 2026, attributing the increase to execution of its market strategy and greater customer adoption. On October 7, it announced a new expected equity investment round totaling about $61.8 million and approved the issuance and sale of 24,936,057 ordinary shares at a subscription price of $2.48 per share. It expected the funding to convert no later than October 13, 2026. The company scheduled a webcast to discuss its third-quarter results and outlook for November 11, 2026, at 7:00 a.m. Eastern time.