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State: 17.08.2024 | 11PM
Thu, 14.11.2024       Gogoro
KYG9491K1058

TAIPEI, Nov. 14, 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 third quarter ended September 30, 2024.

Third Quarter 2024 Summary

Revenue of $86.9 million, down 5.3% year-over-year and down 3.4% on a constant currency basis.Battery swapping service revenue of $34.9 million, up 3.8% year-over-year and up 6.0% on a constant currency basis.Sales of hardware and others revenue of $52.0 million, down 10.6% year-over-year and down 8.8% on a constant currency basis.Our newest vehicles continue to be in high demand with approximately 3,800 backlog orders in the third quarter; these backlog orders in the third quarter will not be recognized as revenue until vehicles are delivered, which is expected to occur in the fourth quarter of 2024.Gross margin of 5.4%, down from 18.3% in the same quarter last year. Non-IFRS gross margin of 14.7%, down 4.5% year-over-year. Net loss of $18.2 million as compared to a net loss of $3.1 million in the same quarter last year.   Adjusted EBITDA of $14.1 million, up from $13.1 million in the same quarter last year.
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