TAIPEI, Taiwan, Aug. 15, 2024 /PRNewswire/ -- Gogoro Inc. ("Gogoro," "the Company" or "We") (Nasdaq: GGR), a global technology leader in battery swapping ecosystems that enable sustainable mobility solutions for cities, today released its financial results for its second quarter ended June 30, 2024.

Second Quarter 2024 Summary

Successfully closed two private placements: Gold Sino Assets Limited and Castrol Holdings International Limited invested $50 million and $25 million, respectively, to purchase ordinary shares of Gogoro.Revenue of $80.9 million, down 7.2% year-over-year and down 2.4% on a constant currency basis.Battery swapping service revenue of $34.7 million, up 4.0% year-over-year and up 9.5% on a constant currency basis.Pulse, our new flagship Smartscooter, and JEGO, our new entry-level Smartscooter, continue to be in high demand with more than 6,500 backlog orders in the second quarter; revenue associated with these backlog orders in the second quarter is estimated to be $12.3 million that will not be recognized as revenue until vehicles are delivered which is expected to occur in the third quarter of 2024.Sales of hardware and others revenue of $46.3 million, down 14.1% year-over-year and down 9.8% on a constant currency basis.Gross margin of 5.2%, down from 15.2% in the same quarter last year. Non-IFRS gross margin of 13.0%, down 3.0% year-over-year.Net loss of $20.1 million as compared to a net loss of $5.6 million in the same quarter last year.Adjusted EBITDA of $11.6 million, down from $12.9 million in the same quarter last year.