Gogoro Inc. (NASDAQ: GGR) reported a second quarter net loss of $4.9 million for the period ended June 30, 2026, a significant improvement from the $26.5 million loss recorded in the same period last year. The company’s earnings per share (EPS) improved to $(0.24) from $(1.80) in Q2FY25.

The electric mobility company posted total revenue of $70.6 million, up 7.3% year-over-year and 10.0% on a constant currency basis. Gross margin expanded sharply to 22.6%, compared to just 0.3% in Q2FY25, marking the highest quarterly gross margin in more than five years.

Revenue Composition

Revenue growth was primarily driven by the hardware segment, which saw sales rise 17.8% year-over-year to $33.2 million. This increase was fueled by a 50.8% surge in Gogoro-branded scooter registrations and deliveries from scooter-sharing partner WeMo. The mix shift toward newer, lower-priced entry-level models resulted in a decrease in average selling price (ASP).

Battery swapping service revenue remained relatively flat at $37.4 million, down 0.6% year-over-year but up 1.9% on a constant currency basis. The subscriber base grew 4% to 677,000 users by the end of the quarter, offsetting modest pressure on average revenue per user (ARPU).

What the Numbers Show

The dramatic expansion in gross margin was heavily influenced by the absence of battery upgrade costs that weighed on the prior-year figure. In Q2FY25, the company incurred $10.9 million in costs associated with voluntary battery upgrades. With this initiative completed in Q4FY25, these costs were zero in the current quarter. While operational efficiencies and better overhead absorption contributed to the margin improvement, the removal of this specific one-time cost was the primary driver behind the jump from 0.3% to 22.6% gross margin.

Profitability and Cash Flow

Adjusted EBITDA improved to $19.3 million from $12.5 million in the prior year quarter. Operating expenses declined by $4.6 million, largely due to lower general and administrative expenses at overseas entities following organizational restructuring.

Operating cash flow reached $26.0 million for the first half of 2026, an increase of more than 70% compared to $15.2 million in the same period last year. As of June 30, 2026, the company held cash and cash equivalents of $68.8 million, bolstered by a $16.7 million equity investment from Gold Sino Assets Limited.

Outlook and Product Strategy

Gogoro launched the first phase of its product renaissance, introducing models such as EZZY, Disney Toy Story Series, and Gogoro Luna. Market share rebounded significantly to 6% in Q2FY26, up from 2% earlier in the year. Management expects revenue for FY26 to range between $285 million and $305 million, noting continued execution toward non-IFRS profitability for the battery-swapping business in 2026.

Gogoro (NASDAQ: GGR) has reaffirmed its FY2026 sales guidance, maintaining the range of $285.000 million to $305.000 million. This outlook remains unchanged from previous disclosures and sits in line with the consensus estimate of $292.836 million.

Sales Outlook Details

The electric scooter manufacturer confirmed that its revenue expectations for the fiscal year ending in 2026 have not been revised. The midpoint of the guidance range is approximately $295 million, which exceeds the market estimate by roughly $2.164 million.

What the Numbers Show

The guidance range implies a tolerance for variance of approximately ±7% around the midpoint. By affirming this range against a specific estimate, the company signals confidence in its current operational trajectory and demand visibility for its electric mobility solutions.