Gogoro’s Operating Cash Flow Jumps to $31.1M as EBITDA Hits $59.9M
Gogoro’s operating cash flow surged to $31.1M in 2025 from $9.9M, while net loss narrowed by over $40M to $80.8M and adjusted EBITDA hit a record $59.9M. Battery swapping subscribers rose to 665,000 and gross margin improved to 8.3%, setting stage for new models and margin gains in 2026.
1. 2025 Financial Results
Gogoro reported full-year revenue of $281.5M, down 9.4% year-over-year, with fourth quarter revenue of $74.4M. Battery swapping service revenue reached $149.0M for the year, up 8.1%, while hardware sales fell 23.3%.
2. Profitability and Cash Generation
Operating cash flow grew to $31.1M from $9.9M as working capital discipline improved, and net loss narrowed to $80.8M from $122.8M. Adjusted EBITDA set a record at $59.9M, and gross margin expanded to 8.3% from 2.6% year-over-year.
3. Business Update and 2026 Outlook
Subscribers climbed to 665,000 with new rate plans driving energy business unit economics toward profitability, and completed battery upgrade initiatives set for efficiency gains. Gogoro streamlined its product portfolio and plans multiple new model launches in 2026 while expanding government and partner deployments of its battery-swapping ecosystem to strengthen its network.