Gogoro Q2 gross margin rises as battery upgrade initiatives cut costs
GGR•Key quarterly figures
| Metric | Actual |
|---|---|
| Q2 Operating Revenue | $70.62 million |
| Q2 Loss Per Share | $0.24 |
| Q2 Net Loss | $4.88 million |
| Q2 Gross Profit | $15.96 million |
| Q2 Income from Operations | -$3.08 million |
| Q2 Operating Expenses | $19.05 million |
What drove the results
- Battery upgrade initiative completion - The company said completion of its battery upgrade initiative reduced costs and improved gross margin.
- Higher scooter sales - Gogoro attributed revenue growth to a 50.8% year-over-year increase in Gogoro-branded scooter registrations and new product launches.
- Improved operating efficiency - The company said increased production volumes and improved overhead absorption supported margin expansion.
Q2 revenue and margin improve
Taiwan battery swapping firm Gogoro said second-quarter revenue rose 7.3% year over year to .
