Gogoro reported its highest quarterly gross margin in more than five years during the second quarter of 2026 as cost discipline and completion of a battery-upgrade initiative helped the electric mobility company sharply reduce its net loss.
Second-quarter revenue reached $70.6 million, up 7.3% year-over-year and 10% on a constant-currency basis. Battery swapping service revenue was $37.4 million, down 0.6% reported but up 1.9% on a constant-currency basis as subscribers increased to 677,000 from 648,000.
IFRS and non-IFRS gross margin both reached 22.6%, the highest quarterly level in more than five years. A year earlier, reported gross margin was only 0.3%, reflecting the impact of battery-upgrade initiatives and other costs.
Net loss narrowed to $4.9 million from $26.5 million, an improvement of approximately 82%. The company also recorded its fifth consecutive quarter of positive operating cash flow and generated $26 million of operating cash flow during the first half of 2026.
Management is attempting to transition the Gogoro Network toward self-sustaining economics while revitalizing the hardware business. The company is rolling out a multi-year product renaissance that began with new EZZY, Disney Toy Story Series and Gogoro Luna products.
For 2026, Gogoro expects revenue of $285 million to $305 million. It remains on track for the battery-swapping network to achieve non-IFRS profitability during 2026 and is targeting non-IFRS profitability for the hardware business in 2028.
KEY QUOTES:
“As we have reached the midpoint of 2026, our execution continues to translate into stronger operating performance and a more resilient business.”
Henry Chiang, CEO of Gogoro
