Taiwan's Gogoro Q3 revenue falls on lower hardware sales; cuts forecast
GGR•Gogoro's third-quarter revenue fell 9% year over year to $70.6 million as hardware sales weakened, while gross margin rose to 24.4% from 12.2% and its net loss narrowed to $3.36 million. The company cut its 2026 revenue forecast to $270 million-$290 million.
1. Quarterly results
Gogoro reported third-quarter revenue of $70.6 million, down 9% year over year, as lower hardware and accessory sales, fewer scooter registrations and reduced shared e-scooter use weighed on results. Gross profit was $17.23 million, and gross margin rose to 24.4% from 12.2% on lower battery upgrade costs, improved overhead absorption, network efficiency gains and a shift to higher-priced models. The net loss narrowed to $3.36 million as gross profit increased and operating expenses declined.
2. Lowered outlook
Gogoro lowered its 2026 revenue guidance to $270 million-$290 million, with 95% expected to come from Taiwan. It expects quarterly net losses to persist because of the challenging revenue outlook and increased investments, and expects to achieve free cash flow in 2027 and profitability in 2028. Subscriber growth supported recurring revenue despite lower average revenue per user.
