Company: GGR
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001886190-25-000017
Chunk: 94

Company: Gogoro Inc.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 5
Chunk 94
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 in the Philippines recognized in 2024.

Finance Costs

Finance costs increased by $2.2 million, or 18.5%, from $11.9 million for the year ended December 31, 2023, to $14.1 million for the year ended December 31, 2024. This increase was primarily due to the higher principal balance of short-term borrowings and higher borrowing interest rates in 2024.

Finance income

Finance income increased by $0.3 million, or 8%, from $2.9 million for the year ended December 31, 2023, to $3.2 million for the year ended December 31, 2024. This increase was primarily due to the higher interest rates in 2024.

Comparison of Year Ended December 31, 2023 to Year Ended December 31, 2022

For a discussion of our results of operations for the year ended December 31, 2023 compared with the year ended December 31, 2022, see “ Item 5. Operating and Financial Review and Prospects - A. Operating Results - Results of Operations - Comparison of Year Ended December 31, 2023 to Year Ended December 31, 2022” of our annual report on Form 20-F for the fiscal year ended December 31, 2023, filed with the SEC on March 29, 2024.

B. Liquidity and Capital Resources

As of December 31, 2024, we held cash and cash equivalents of $117.1 million, which included cash on hand, checking accounts and demand deposits, time deposits, and repurchase agreements collateralized by bonds. We also had other current financial assets of

Table of Contents

$10.5 million, consisted of time deposits with original maturities of more than three months and restricted deposits. We had current assets of $202.8 million and current liabilities of $225.6 million as of December 31, 2024. These liabilities primarily consisted of short-term borrowings, financial liabilities at amortized cost, notes and trade payable, and current portion of long-term borrowings. We incurred a net loss of $122.8 million and a net loss of $76.0 million for the year ended December 31, 2024 and 2023, respectively. We anticipate that we will continue to incur net losses in the short term as we continue to execute on our growth strategy. Since inception, we have financed