Company: GGR
Filing Date: 2025-03-31
Form Type: 20-F
Source: 0001886190-25-000017
Chunk: 100

Company: Gogoro Inc.
Filing Date: 2025-03-31
Form: 20-F
Item: Item 5
Chunk 100
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 (62,215)      $            18,671  

Table of Contents

Operating Activities

Cash flows from operating activities are reinvested to support the growth of our business. We invest in research and development, sales and marketing activities, general and administrative expenses, and working capital requirements. Our operating cash inflows comprise revenue from various sources, including cash from sales of electric scooters and related hardware, revenue from battery swapping and energy services, leasing revenue, and revenue from sales-related services. These cash inflows are offset by payments to suppliers for production materials and parts utilized in our manufacturing process, operating expenses, and interest payments on our financings.

During the year ended December 31, 2024, net cash generated from operating activities was $9.9 million. The primary factors affecting operating cash flows during this period were a net loss of $122.8 million, adjusted by non-cash charges totaling $152.4 million. These non-cash charges mainly consist of depreciation and amortization expenses of $97 million, impairment loss of $33.5 million, finance cost of $14.1 million, and share-based compensation of $11.6 million, partially offset by a change in fair value of financial liabilities of $28.2 million. Additionally, there was an unfavorable change in net operating assets and liabilities of $(9.1) million, primarily driven by a decrease in notes payable and trade payable, and a decrease in advance receipts and provisions used.

Investing Activities

Cash used in investing activities primarily relate to capital expenditures for batteries in support of energy usage and battery swapping, manufacturing equipment and machinery, tooling equipment, and leasehold improvements as we continue to invest in our business infrastructure and scale our manufacturing operations.

For the year ended December 31, 2024, net cash used in investing activities was $128.7 million. This primarily consisted of cash outflows for investing in fixed assets, mainly consisting of batteries and machinery equipment, to support our battery-swapping energy services and an increase in restricted deposits.

Financing Activities

Cash inflows from financing activities primarily stem from proceeds from the increase of bank loans, while being offset by cash outflows from the repayment of bank loans and issuance of ordinary shares.

For the year ended December 31, 2024, net cash generated from financing activities was $33.8 million. This was primarily attributable to proceeds from issuance of shares of $75.0 million, proceeds from long-term borrowings of $23.0 million and proceeds from short-term