Gogoro Inc. (NASDAQ: GGROW)

Gogoro Inc. is a technology company focused on transforming urban mobility and accelerating the mass-market transition to clean, sustainable electric two-wheel transportation. By leveraging cutting-edge technology, Gogoro's industry-leading battery-swapping platform and Smartscooter portfolio provide smart, convenient, and highly accessible portable energy solutions specifically engineered to address the complex infrastructure and mobility needs of densely populated cities worldwide. The company has successfully commercialized and scaled this innovative platform in its Taiwan market, proving the viability and resilience of its business model.

Gogoro generates two inter-linked revenue streams: hardware sales and battery subscription recurring revenues. Hardware sales include Gogoro branded Smartscooters and enabling hardware such as vehicle kits sold to partners who sell their own branded vehicles compatible with the Gogoro Network, as well as future sales of Battery Packs and GoStation units to joint venture partnerships operating battery swapping networks. Battery subscription recurring revenues are generated from Swap & Go customer subscriptions to the battery swapping network, including those from Powered by the Gogoro Network vehicles, representing a growing portion of overall revenue.

The company operates through the following segments: Gogoro Taiwan Limited, Gogoro Network, Gogoro Network Pte. Ltd., Gogoro India Private Limited, Gogoro Taiwan Sales and Services Limited, and GoShare Taiwan Limited.

• Gogoro Taiwan Limited manufactures and conducts research and development of electric scooters and bikes, generating revenues from sales of scooter parts, core components, development kits, GoStation equipment, and battery packs to partners globally, while also providing consulting services.

• Gogoro Network provides battery swap services in Taiwan, with revenue generated from swap subscription fees paid by end customers.

• Gogoro Network Pte. Ltd. acts as a licensor of SaaS and provider of battery swap services outside of Taiwan, with revenues generated from licensing of SaaS and battery swap services.

• Gogoro India Private Limited engages in the manufacture and sale of electric scooters and related products, along with provision of after-sale services to partners in India.

• Gogoro Taiwan Sales and Services Limited operates as a sales company in Taiwan, with revenues generated from sales of scooters to local end customers.

• GoShare Taiwan Limited provides electric scooter free float sharing services to local end customers in Taiwan.

Gogoro has established itself as a globally recognized climate technology leader and a dominant player in the electric two-wheeler market in Taiwan, where it and its Powered by the Gogoro Network OEM partners collectively accounted for approximately 67.5% of all ePTW sales in 2025. The company differentiates itself through its end-to-end battery swapping technology, comprehensive intellectual property portfolio, and attractive recurring revenue model, which together create significant barriers to entry and support scalability in target markets.

Gogoro serves urban riders, delivery fleets, sharing services, and original equipment manufacturer partners seeking electric two-wheel transportation solutions. Its customer base includes individual consumers purchasing Gogoro-branded or partner OEM-branded ePTWs, enterprises utilizing the network for fleet operations, and joint venture partners deploying battery swapping infrastructure in new markets.