G O G O R O I N C R e p o r t s Q 4 F Y 2 0 2 2 E a r n i n g s R e s u l t s o n F e b r u a r y 1 6 2 0 2 3
February 26, 2023
Earnings Overview
On February 16 2023, GOGORO INC ($NASDAQ:GGR) reported their Q4 FY2022 earnings results, ending December 31 2022, with total revenue of USD -12.5 million, representing a year-over-year rise of 11.5%. However, net income was reported as USD 95.5 million, a decrease of 20.8% compared to the same period the year before.
Transcripts Simplified
Gogoro announced new partnerships and pilot programs in India, Singapore, and the Philippines in 2022 and launched new Gogoro-branded and partner-branded vehicles. In Q4, they announced a partnership with Zypp Electric in India, were working directly with a variety of B2B players in India, and announced an MOU with the State of Maharashtra. They also announced an MOU with Globe’s 917Venture and Ayala Group to launch a pilot in the Philippines.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gogoro Inc. More…
| Total Revenues | Net Income | Net Margin |
| 382.83 | -98.91 | -25.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gogoro Inc. More…
| Operations | Investing | Financing |
| -64.79 | -101.1 | 186.4 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gogoro Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 873.42 | 574.45 | 0.51 |
Key Ratios Snapshot
Some of the financial key ratios for Gogoro Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -4.5% | – | -23.3% |
| FCF Margin | ROE | ROA |
| -49.1% | -45.1% | -6.4% |
Market Price
On Thursday, GOGORO INC reported its fourth quarter and FY 2022 earnings results in a call on February 16, 2023. The company’s stock opened at $4.8 per share at the market open, but soon declined as the earnings report was released. By the close of trading, GOGORO INC’s stock was priced at $4.4 per share, representing a 9.8% decrease from its closing price of $4.9 the previous day. This was driven primarily by strong sales of GOGORO’s electric scooter, which has been a major boost to the company.
Overall, GOGORO INC reported mixed results for the fourth quarter and FY 2022. While the company’s revenue and profits rose compared to the same period last year, its stock price dropped 9.8% on news of the earnings report. Investors will be keeping a close eye on GOGORO’s performance in the coming quarters to see if it can continue to deliver on its long-term growth objectives. Live Quote…
Analysis
At GoodWhale, we believe in providing our users with the best analysis when it comes to investing in GOGORO INC. After a thorough examination of their financial and business fundamentals, we would rate them as a low risk investment. We have identified some areas where the company could see potential risks, so we encourage our users to register on our website for a more detailed analysis. We take immense pride in providing our users with the most comprehensive analysis and strive to give them the best information to make informed decisions when it comes to investing. We urge all interested parties to review our comprehensive report and register on our website to have full access to our analysis. More…
Peers
Gogoro Inc, Chaowei Power Holdings Ltd, Romeo Power Inc, and Enova Systems Inc are all companies that produce electric vehicles and batteries. They all compete against each other to produce the best products possible. All four companies are constantly trying to improve their products and stay ahead of the competition.
– Chaowei Power Holdings Ltd ($SEHK:00951)
Chaowei Power Holdings Ltd is a Chinese holding company that engages in the manufacture and sale of lead-acid batteries. It operates through the following segments: Lead-Acid Battery, Lithium Battery, and Solar Energy. The Lead-Acid Battery segment manufactures and sells lead-acid batteries for use in automobiles, motorcycles, power tools, and UPS systems. The Lithium Battery segment manufactures and sells lithium batteries for use in electric vehicles, energy storage systems, and consumer electronics. The Solar Energy segment manufactures and sells solar panels and solar power systems.
– Romeo Power Inc ($OTCPK:ENVS)
Enova Systems Inc is a company that designs, manufactures, and sells motor controllers and power conversion products for electric vehicles and industrial applications. They have a market cap of 103.23k as of 2022 and a Return on Equity of 4.24%. The company’s products are used in a variety of applications, including material handling, construction, agricultural, and military vehicles, as well as in stationary power applications such as wind turbines and battery energy storage systems.
Summary
Gogoro Inc. reported a sharp drop in net income for the fourth quarter of FY2022 ended December 31, 2022. Total revenue grew 11.5% year-over-year, but net income was down 20.8%. This news caused the stock price to drop on the same day, raising questions about the company’s long-term prospects. Investors should closely analyze Gogoro Inc.’s financials and review their business model in order to determine if it is a sound investment opportunity.
In addition, they should assess the performance of the company’s competitors and industry trends to gain further perspective.
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