Gogoro (GGR) Q2 2026 earnings summary

Executive summary

• Q2 2026 revenue reached $70.6 million, up 7.3% year-over-year, driven by new product launches and improved operational discipline.

• Gross margin rose to 22.6%, the highest in over five years, reflecting structural improvements and cost reductions.

• Adjusted EBITDA for Q2 2026 was $19.3 million, up 54.4% year-over-year; net loss narrowed to $4.9 million.

• Operating cash flow for H1 2026 reached $26.0 million, up over 70% year-over-year, marking the fifth consecutive quarter of positive cash flow.

• Market share rebounded to approximately 6% in Q2 2026, supported by strong demand for new models and targeted go-to-market strategies.

Financial highlights

• Q2 2026 revenue was $70.6 million, up 7.3% year-over-year and 10% on a constant currency basis.

• Gross margin improved to 22.6%, up from 0.3% year-over-year, driven by manufacturing efficiency and lower battery depreciation.

• Adjusted EBITDA for Q2 2026 was $19.3 million, up from $12.5 million year-over-year.

• Net loss narrowed to $4.9 million in Q2 2026, a significant improvement from $26.5 million year-over-year.

• Ended the quarter with $68.8 million in cash and cash equivalents, bolstered by a $16.7 million equity investment from Gold Sino.

Outlook and guidance

• Full-year 2026 revenue guidance reaffirmed at $285 million to $305 million.

• Battery swapping business remains on track for non-IFRS profitability in 2026; hardware business expected to reach non-IFRS profitability in 2028.

• Management maintains cautious optimism, focusing on sustainable growth, product innovation, and expanding the addressable market amid macroeconomic and competitive pressures.