Gogoro Reports Q3 Revenue of $70.6 Million and GAAP EPS of -$0.17
Gogoro (GGR) reported its third-quarter financial results, showing a total revenue of $70.6 million, which represents a 9.0% year-over-year decline. The company's battery swapping service revenue fell by 4.7% to $37.1 million, while hardware and other revenue saw a more significant decrease of 13.5%, totaling $33.5 million. Despite the drop in top-line revenue, Gogoro demonstrated improved profitability metrics at the gross level. The company's gross margin rose significantly to 24.4%, up from 12.2% in the same period last year. However, the bottom line remains negative with a GAAP earnings per share of -$0.17.
Topics: earnings report gross margin improvement revenue decline