Gogoro Inc.

Welcome to the Gogoro, Inc.' 's 2025 Second Quarter Earnings Call. This conference call is now being recorded and broadcast live over the internet. Webcast replay will be available within an hour after the conference is finished. I'd like to turn the call over to the Gogoro team.

Welcome to Gogoro's 2025 Second Quarter Earnings Conference Call. hosted by our interim CEO, Henry Zhang, and CFO, Bruce Akin. Hopefully by now you have seen our earnings release. If you haven't, it is available on the investor relations tab of our website, investor.gogoro.com. We are hosting our earnings conference call via live webcast through Gogoro's website, where you can also download all the earnings release materials. We will also be displaying the material on the webcast screen as we go. If you are joining us through the conference call, your dialing lines are in listen-only mode. Henry will provide an overview of Gogoro's progress, executions, and achievements for the second quarter of 2025. Bruce will then go into the second quarter financial results. in more detail, and then we will open the line for Q&A and answer as many questions as time allows. As usual, we would like to remind everyone that today's discussion may contain forward-looking statements that are subject to risks and uncertainties, which could cause actual results to differ materially from those contained in the forward-looking statements. Please refer to the forward-looking statements that appear in our press release and investor presentation provided today. Additionally, many of the financial figures we will use in our webcast are in a non-IFRS basis. For detail about the non-IFRS measures and reconciliation to the corresponding IFRS measures, please refer to our earnings release. Now, I would like to turn the call over to Henry.

Thank you, George. Good morning and good evening, everyone, and thank you for joining us for Gogoro's second quarter earnings call for 2025. The word that we continue to rally around both internally and externally is focus. We are focused on delivering a great experience for our customers, predictable financial results, and a clear vision for the future. We are executing our plan and affirm our commitment to ongoing strategic streamlining of product and solutions. That streamlining has substantially increased our operating cash flow from $4.8 million in the first half of 2024 to $15.2 million in the first half of 2025, and cost savings initiatives are trending according to plan. with approximately $11 million in OPEX saved year to date versus 2024. During the second quarter, we launched new products continued our cost savings efforts and delivered improved gross margin as well as generating operating cash flow for the first half of twenty twenty five we increased our adjusted EBITDA to twelve point five million dollars a 4.2% increase over last year and delivered adjusted gross margin of 17.0%, an improvement over 13.5% in 2024. We continue to invest both for future products as well as in our ongoing battery upgrade initiatives. macroeconomic trends including uncertainty regarding global trade and overall consumer confidence in taiwan have resulted in overall two-wheel market reduction despite these challenges to top-line revenue we continue to deliver improved non-IFRS results. Product development continues as planned. A new vehicle will be launched in Q3, as well as an all-new vehicle platform in 2026. New battery pack developments are underway to meet aggressive cost targets, and increasing applications for second-life uses of battery packs are being identified with partners. International markets are showing positive signs. Increased demand for Gogoro solutions in Korea for B2B applications, substantial government policy pronouncements in Vietnam, indicating tailwinds for electrification of the two-wheeler market, and good progress toward the establishment of our joint venture with Castro in Vietnam. I believe Gogoro's current market valuation does not reflect the fundamental value of our business. We are committed to acting in the best interest of our customers, shareholders, and employees to increase our performance. deliver solid and predictable financials, and contribute to an improved long-term view of Gogoro. We would like to reaffirm that we remain on track to our long-term financial objectives of energy break-even in 2026. Energy cash flow positive in 2027 and vehicle business profitability in 2028. Whole company profitability will be achieved in 2027. We've done the hard work of repositioning the company and while change takes time, we are seeing these efforts result in improvements to our operational goals and financial performance indicators. Let me now turn the call over to Bruce for more detail on the financials.