A year ago, Gogoro's quarterly gross margin was 0.3% — essentially nothing. In the three months to June 30, 2026, it was 22.6%, the highest the company has recorded in more than five years.
The difference was largely one program that is now finished. Gogoro spent two years voluntarily upgrading battery packs in its Taiwan swapping network, a process that loaded costs into the gross margin line and held it down. According to the company's August 24 results release, the program finished in the fourth quarter of 2025, removing about $10.9 million in upgrade-related costs from second-quarter cost of revenues alone.
That matters because the battery program was not a permanent part of the business — it was a one-time drag, and it is done. Anyone holding the stock has watched margins sit near zero for two years while that drag was live. It is no longer live.
Shares closed 29.07% higher at $2.9300 on August 25 after the company reported second-quarter results, on dollar volume of about $4 million. The free float is about 5.9 million shares, so that turnover represents meaningful activity against a thin base.
Net loss narrowed to $4.9 million from $26.5 million a year earlier. Revenue reached $70.6 million, up 7.3% year-over-year. In the first half of 2026, the company generated $26.0 million in operating cash, compared with $15.2 million in the same period last year — the fifth consecutive quarter of positive operating cash flow, Gogoro said. Cash on hand at June 30 was $68.8 million.
For the full year, Gogoro is guiding revenue of $285 million to $305 million and said the battery-swapping network business is on track to turn a profit this year on an adjusted basis.
The CFO who managed the company's finances through the upgrade cycle, Bruce Aitken, retires September 1 after more than eight years in the role. Gogoro named Jacky Lee, a former Deloitte auditor, as principal financial officer effective August 21. The company has not said when it expects to appoint a permanent CFO.