Income statement, balance sheet and cash flow statement for the last 7 fiscal years, taken from the XBRL data Gogoro Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
439
364
366
383
350
311
281
Cost of revenue
346
285
305
325
299
303
258
Gross profit
93.2
79.4
61.1
57.7
50.9
7.93
23.2
Research and development
27.2
28.7
30.6
46
40.9
34.9
25.4
Operating income
-11.1
-36.5
-57.3
-298
-88.4
-142
-73.3
Interest expense
9.03
9.75
11.1
12.7
11.9
14.1
14.6
Interest income
0.89
0.63
2.94
2.95
3.18
1.86
Pre-tax income
-12.1
-50.3
-67.4
-98.9
-76
-123
-80
Income tax
1.01
-1.06
0
0
0
0
0
Net income
-13.1
-49.3
-67.4
-98.9
-76
-123
-80
EBITDA
46.1
42.1
37.5
-204
10
-44.6
17.7
EPS, basic
-1.42
-5.06
-7.09
-9.11
-6.48
-9.27
-5.42
EPS, diluted
-1.42
-5.06
-7.09
-9.11
-6.48
-9.27
-5.42
Balance sheet
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
184
119
217
236
174
117
70.6
Inventory
94.5
73.1
115
53.1
45
28.9
Total current assets
354
358
398
266
203
131
Property, plant and equipment
295
400
453
443
502
438
420
Lease right-of-use assets
29.9
26.3
21.1
30.4
35.3
26.9
Intangible assets
1.72
1.36
Total assets
791
844
873
834
700
602
Short-term debt
1.07
238
88
75.6
103
83.4
Total current liabilities
205
481
248
214
226
172
Lease liabilities
19.5
15.6
11.4
18.8
27
17.3
Total liabilities
608
721
574
586
524
493
Total debt
434
381
410
357
361
Retained earnings
-49.2
-117
-350
-426
-549
-629
Total equity
218
183
124
299
249
177
108
Total liabilities and equity
791
844
873
834
700
602
Cash flow statement
FY2019
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-13.1
-49.3
-67.4
-98.9
-76
-123
-80
Depreciation and amortization
57.2
78.6
94.8
94.8
98.4
97
90.9
Cash from operations
25.4
0.76
80.8
-64.8
59.1
9.85
35.9
Capital expenditures
-176
-144
-128
-123
-118
-124
-65
Cash from investing
-178
-252
-41.5
-101
-137
-129
-60
Debt issued
155
33.8
87.1
Debt repaid
-127
-61.6
-96.8
Stock issued
0
0
75
0
Dividends paid
0
-1.22
-7
-2.09
0
0
Cash from financing
32.2
187
61.8
186
15.2
33.8
-23
Exchange rate effect
2.32
-0.94
-2.65
-1.83
0.17
28.3
0.53
Net change in cash
-118
-64.7
98.4
18.7
-62.2
-56.7
-46.6
Free cash flow
-151
-144
-46.9
-188
-58.7
-115
-29.1
Interest paid
9.03
10
10.9
12.5
11.7
13.8
14.3
Income taxes paid
0.03
-0.01
-0.04
0
0.06
0.1
0.03
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $3.05 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
8.2%
Gross profit / revenue.
Operating margin
-26.0%
Operating income / revenue.
EBITDA margin
6.3%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-28.4%
Pre-tax income / revenue.
Net margin
-28.4%
Net income / revenue.
FCF margin
-10.3%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
12.8%
Cash from operations / revenue.
Return on assets (ROA)
-12.3%
Net income / average total assets.
R&D / revenue
9.0%
Research and development expense / revenue.
Capex / revenue
23.1%
Capital expenditures / revenue.
D&A / revenue
32.3%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-9.4%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-9.7%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
-5.0%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
192.0%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
-26.2%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
-21.8%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA CAGR, 5y
-15.9%
Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y
264.4%
Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 5y
116.4%
Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-14.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-11.7%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
-5.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.76x
Current assets / current liabilities.
Quick ratio
0.41x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.41x
(Cash + short-term investments) / current liabilities.
Debt / assets
60.0%
Total debt / total assets.
Liabilities / assets
82.0%
Total liabilities / total assets.
Net debt
$290.4M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA
16.4x
Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage
-5.00x
Operating income / interest expense.
Working capital
-$41.0M
Current assets - current liabilities.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.43x
Revenue / average total assets.
Fixed asset turnover
0.66x
Revenue / average property, plant and equipment.
Inventory turnover
7.00x
Cost of revenue / average inventory.
Days inventory
52 days
365 x average inventory / cost of revenue.
Capex / operating cash flow
181.1%
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$5.42
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$5.42
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$45.1M
Share price x shares outstanding.
Enterprise value
$335.4M
Market cap + total debt - cash - short-term investments.
P/S
0.16x
Market cap / revenue.
P/OCF
1.26x
Market cap / cash from operations, when positive.
EV/Sales
1.19x
Enterprise value / revenue.
EV/EBITDA
19.0x
Enterprise value / EBITDA, when both are positive.
FCF yield
-64.6%
Free cash flow / market cap.
Earnings yield
-177.5%
Net income / market cap (the inverse of P/E).
What was Gogoro Inc.'s revenue in fiscal 2025?
Gogoro Inc. reported revenue of $281.5M for fiscal 2025, 9.4% lower than the year before.
Was Gogoro Inc. profitable in fiscal 2025?
No. It reported a net loss of $80.0M.
How much free cash flow did Gogoro Inc. generate in fiscal 2025?
Cash from operations of $35.9M minus capital expenditures of $65.0M left free cash flow of -$29.1M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.