An announcement from Gogoro ( (GGR) ) is now available.
In its financial release for the fourth quarter and full year ending December 31, 2024, Gogoro Inc. reported a decline in overall revenue but highlighted growth in its battery swapping service revenue. The company faced a year-over-year revenue decrease of 20.2% in the fourth quarter, with overall yearly revenue dropping by 11.2%. Despite these challenges, battery swapping service revenue increased by 10.2% in Q4, indicating a strategic shift towards energy services. Gogoro’s net loss widened to $71.8 million in Q4, attributed to significant accounting charges and efforts to streamline operations. The company remains focused on long-term growth and profitability, with plans to expand its energy services and battery swapping network, anticipating continued growth in 2025.
More about Gogoro
Gogoro Inc. is a global technology leader operating in the battery swapping ecosystems industry, focusing on sustainable mobility solutions for urban environments. The company is known for its innovation-driven approach to energy solutions, particularly its battery swapping services and electric vehicle offerings, maintaining a significant presence in the electric scooter market.
YTD Price Performance: -9.02%
Average Trading Volume: 633,119
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $129.3M
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