$GGROW

Gogoro Inc.

CIK:0001886190|SEC Filings

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Profit or loss [abstract]
OPERATING REVENUES (Notes 2, 17 and 26)	$ 281,480	$ 310,641	$ 349,846
COSTS OF REVENUES (Notes 2, 6, 9 and 18)	258,322	302,711	298,907
GROSS PROFIT	23,158	7,930	50,939
OPERATING EXPENSES (Notes 2, 5, 9, 18 and 24)
Sales and marketing	32,388	44,064	50,976
General and administrative	28,031	31,862	44,440
Research and development	25,398	34,942	40,867
Other operating expenses	10,604	38,681	3,029
Total operating expenses	96,421	149,549	139,312
OPERATING LOSS	(73,263)	(141,619)	(88,373)
NON-OPERATING INCOMES AND EXPENSES (Notes 2, 8 and 18)
Finance costs	(14,643)	(14,135)	(11,925)
Finance income	1,855	3,183	2,946
Other income	6,654	7,157	7,371
Other losses, net	(1,640)	(1,428)	(953)
Gains on financial liabilities at fair value through profit or loss	2,390	28,178	16,117
Share of loss of investments accounted for using equity method	(1,322)	(4,090)	(1,221)
Total non-operating incomes and expenses	(6,706)	18,865	12,335
LOSS BEFORE INCOME TAX	(79,969)	(122,754)	(76,038)
INCOME TAX EXPENSE (Notes 2 and 19)	0	0	0
NET LOSS	(79,969)	(122,754)	(76,038)
Items that may be reclassified subsequently to profit or loss:
Exchange differences on translation	8,592	(13,946)	(691)
TOTAL COMPREHENSIVE LOSS FOR THE YEAR	$ (71,377)	$ (136,700)	$ (76,729)
LOSS PER SHARE (in U.S. dollars) (Note 20)
Basic (in dollars per share)	$ (5.42)	$ (9.27)	$ (6.48)
Diluted (in dollars per share)	$ (5.42)	$ (9.27)	$ (6.48)
Weighted average number of ordinary shares used in calculating basic loss per share (in shares)	14,755	13,249	11,740
Weighted average number of ordinary shares used in calculating diluted loss per share (in shares)	14,755	13,249	11,740

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (79,969)	$ (122,754)	$ (76,038)
Adjustments for:
Depreciation expenses	90,674	96,641	97,798
Amortization expenses	252	367	579
Impairment losses on property, plant and equipment and other assets	5,798	33,532	1,387
Expected credit loss recognized on trade receivables	597	464	491
(Reversal of) write-down of inventories	(2,315)	4,366	2,460
Share-based payments	2,310	11,644	26,324
Finance costs	14,643	14,135	11,925
Finance income	(1,855)	(3,183)	(2,946)
Loss on disposals of property, plant and equipment	17,567	14,186	1,642
Other (gains) losses	(118)	(28)	615
Gain on financial liabilities at fair value through profit or loss	(2,390)	(28,178)	(16,117)
Share of loss of investments accounted for using equity method	1,322	4,090	1,221
Recognition of provisions	870	4,334	0
Changes in operating assets and liabilities:
Increase in trade receivables	(3,146)	(306)	(1,483)
Decrease in inventories	28,150	3,771	21,709
Decrease in other assets	1,192	3,010	9,741
Decrease in notes and trade payables	(16,660)	(8,766)	(762)
(Decrease) increase in contract liabilities	(4,567)	4,969	(1,359)
Decrease in provisions for product warranty	(1,941)	(5,649)	(2,575)
Decrease in other liabilities	(1,999)	(6,096)	(6,723)
Cash generated from operations	48,415	20,549	67,889
Interest income received	1,855	3,183	2,946
Interest expense paid	(14,341)	(13,785)	(11,682)
Income tax paid	(32)	(97)	(58)
Net cash generated from operating activities	35,897	9,850	59,095
CASH FLOWS FROM INVESTING ACTIVITIES
Payments for acquisitions of property, plant and equipment	(64,997)	(124,420)	(117,816)
Proceeds from disposals of property, plant and equipment	360	1,313	1,549
Payments for acquisitions of intangible assets	(445)	(78)	(466)
Payments for acquisitions of investments accounted for using equity method	(1,000)	0	(18,900)
Refundable deposits received (paid)	397	(283)	(462)
Decrease (increase) in restricted deposits	5,725	(5,257)	(531)
Net cash used in investing activities	(59,960)	(128,725)	(136,626)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of shares (Note 16)	0	75,000	0
Proceeds from bank loans	87,125	33,826	155,069
Repayments of bank loans	(96,807)	(61,550)	(127,221)
Guarantee deposits refunded	(30)	(192)	(62)
Repayments of the principal portion of lease liabilities	(13,325)	(13,270)	(12,635)
Net cash (used in) generated from financing activities	(23,037)	33,814	15,151
Effects of exchange rate changes on cash and cash equivalents	526	28,324	165
NET DECREASE IN CASH AND CASH EQUIVALENTS	(46,574)	(56,737)	(62,215)
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE YEAR	117,148	173,885	236,100
CASH AND CASH EQUIVALENTS AT THE END OF THE YEAR	$ 70,574	$ 117,148	$ 173,885

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
CURRENT ASSETS
Cash and cash equivalents (Notes 2, 4 and 23)	$ 70,574	$ 117,148
Trade receivables (Notes 2, 5, 17 and 23)	18,688	16,977
Inventories (Notes 2 and 6)	28,876	44,972
Other assets, current (Notes 2, 7 and 23)	12,762	23,727
Total current assets	130,900	202,824
NON-CURRENT ASSETS
Property, plant and equipment (Notes 2 and 9)	419,965	438,255
Right-of-use assets (Notes 2 and 10)	26,903	35,303
Investments accounted for using equity method (Notes 2 and 8)	16,379	16,117
Other assets, non-current (Notes 2, 7 and 23)	7,422	7,928
Total non-current assets	470,669	497,603
Total assets	601,569	700,427
CURRENT LIABILITIES
Borrowings, current (Notes 2, 11 and 23)	83,361	103,018
Financial liabilities at fair value through profit or loss (Notes 2, 12 and 23)	264	2,654
Notes and trade payables (Notes 2, 13 and 23)	12,691	29,351
Contract liabilities (Notes 2 and 17)	9,766	11,869
Lease liabilities, current (Notes 2, 10 and 23)	10,025	9,446
Financial liabilities at amortized cost, current (Note 16)	10,000	24,586
Provisions, current (Notes 2 and 15)	4,306	4,240
Other liabilities, current (Notes 2, 14 and 23)	41,524	40,465
Total current liabilities	171,937	225,629
NON-CURRENT LIABILITIES
Borrowings, non-current (Notes 2, 11 and 23)	277,596	253,750
Financial liabilities at amortized cost, non-current (Note 16)	15,000	0
Contract liabilities, non-current (Notes 2 and 17)	2,242	4,706
Lease liabilities, non-current (Notes 2, 10 and 23)	17,283	26,966
Provisions, non-current (Notes 2 and 15)	951	1,419
Other liabilities, non-current (Notes 2, 14 and 23)	8,320	11,417
Total non-current liabilities	321,392	298,258
Total liabilities	493,329	523,887
EQUITY (Notes 2 and 16)
Share capital	29	29
Reserves	108,211	176,511
Total equity	108,240	176,540
Total liabilities and equity	$ 601,569	$ 700,427