Gogoro Reports Q4 2023 Revenue of $95 and GAAP EPS of -$0.05.
February 20, 2023
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Gogoro Inc ($NASDAQ:GGR). reported that in the fourth quarter of 2020, their total revenue was $95.3 million and their GAAP Earnings Per Share (EPS) was -$0.05. The company attributes this decrease in revenue and EPS to rising costs in the production of their electric scooters and an increased demand for services associated with those scooters. Despite these decreases, Gogoro Inc. still reported positive growth in the fourth quarter of 2020 and is optimistic about the future of their business.
Overall, the financial report from Gogoro Inc. indicates a challenging quarter for the company but also shows signs of potential growth. Investors will continue to watch the company’s progress as it strives to become a leader in the electric scooter industry.
Share Price
Gogoro Inc., an innovative leader in electric-powered transportation, reported its fourth-quarter 2023 earnings Thursday. Revenue for the quarter totaled $95 million, while the company reported a GAAP EPS of -$0.05. The news sent investors into a panic, leading to a 9.8% drop in Gogoro Inc. stock at the close of markets, with shares falling from a Thursday opening price of $4.8 to a closing price of $4.4.
This was a significant decrease given the previous day’s closing of $4.9. Overall, the company’s fourth-quarter performance fell short of expectations, causing concern among investors and leading to a sell-off of Gogoro Inc. stock. Live Quote…
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% |
Analysis
GoodWhale has conducted an analysis of GOGORO INC‘s wellbeing, which revealed a health score of 6/10. This score indicates that the company has an intermediate level of health when it comes to its cashflows and debt, suggesting that it could be able to sustain future operations in times of crisis. The company is relatively strong in some areas, such as its ability to take on and manage debt, while it is medium in others such as asset utilization and weak in others such as dividends and growth. In addition, the GOGORO INC was classified as a “rhino,” indicating a company that has achieved moderate revenue or earnings growth. These results may be of interest to investors who are looking for a company with moderate growth potential yet stable enough to withstand potential future hardship. Additionally, those who are willing to invest to improve the company’s performance in those weaker areas of GOGORO INC’s analysis may find GOGORO INC an interesting choice. 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
For the quarter, the company reported total revenues of $95 million and a GAAP earnings per share (EPS) of -$0.05. Upon announcement of the financial results, Gogoro’s stock price moved down. This may be due to multiple factors, including concern over the net loss, a slow quarter of growth, and investor skepticism over near-term profitability.
However, while the near-term outlook may be uncertain, Gogoro is well-positioned in the industry. The company continues to develop innovative products such as battery changing stations and connected electric vehicles. As the technology continues to become more prevalent in the market, Gogoro may be able to benefit from the increased demand. Investors may want to consider the long-term potential of Gogoro if they are looking for exposure to the smart mobility space. The company has demonstrated that it can produce value for customers with its advanced technologies, and it could be a worthwhile investment for those seeking growth in the sector.
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