Company: GGR
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001886190-25-000017
Chunk: 88

Company: Gogoro Inc.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 5
Chunk 88
---
 as of December 31, 2023.

Key Factors Affecting Our Performance

We believe that our performance and future success is dependent on multiple factors that present significant opportunities for us, but also pose risks and challenges, including those discussed below and in the section of this annual report titled “ Item 3. Key Information - D. Risk Factors.”

Uncertainties of Market Fluctuation

We are currently a market leader in Taiwan in the ePTW and battery-swapping energy service. Various changes of market conditions may bring challenges to business operations, including but not limited to competitor actions, government policies relating to PTWs, technology changes, and other fluctuations. We will need to respond quickly and effectively to adapt to numerous market fluctuation in the future, including evolving competitor dynamics in each of our target markets, regulatory conditions, market opportunities, technologies and customer requirements.

Table of Contents

Results of Operations

Gogoro’s results of operations for the years ended December 31, 2024, 2023 and 2022 are presented below (U. S. dollars in thousands except for %):

                                                                                                                                          %                           %  
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Operating revenues                                                         310,641       349,846        382,826      (39,205)      (11.2)       (32,980)        (8.6)  
  Cost of revenues                                                           302,711       298,907        325,113         3,804         1.3       (26,206)        (8.1)  
  Gross profit                                                                 7,930        50,939         57,713      (43,009)      (84.4)        (6,774)       (11.7)  
  Operating expenses:                                                                                                                                                    
  Sales and marketing                                                         44,064        50,976         60,273       (6,912)      (13.6)        (9,297)       (15.4)  
  General and administrative                                                  31,862        44,440         70,972      (12,578)      (28.3)       (26,532)       (37.4)  
  Research and development                                                    34,942        40,867         45,993       (5,925)      (14.5)        (5,126