Gogoro (GGR) Registration Filing summary

Company overview and business model

• Focuses on transforming urban transportation with smart battery swapping and electric two-wheel vehicles, targeting densely populated Asian cities.

• Operates a large-scale battery swapping network in Taiwan, with over 2,540 locations and 587,000 monthly subscribers as of December 31, 2023.

• Generates revenue from hardware sales (Smartscooters, vehicle kits) and recurring battery swapping service subscriptions, with near 100% retention rates for subscription revenue.

• Expands through OEM partnerships, enabling other brands to use its battery swapping platform and broadening market reach.

• Business model is especially suited for urban centers where space and time are limited, offering quick battery swaps and cost parity with traditional vehicles.

Financial performance and metrics

• As of December 31, 2023, accumulated deficit was $426.0 million, with net operating losses and cash outflows every year since inception.

• As of June 30, 2024, cash and cash equivalents were $196.9 million, total liabilities $566.8 million, and total equity $264.2 million.

• Adjusted for full exercise of Gold Sino Warrant, cash and cash equivalents would be $215.2 million and total equity $282.6 million.

Use of proceeds and capital allocation

• Proceeds from Castrol Holdings' share subscription ($25 million) are exclusively for strategic investments approved by the board, not for redemptions or dividends.

• No proceeds from the resale of registered shares by selling securityholders; company only covers registration-related expenses.