Gogoro Inc.

Welcome to the GoGoRoll Inc. 2025 Third 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 now to the GoGoRoll Inc.

Welcome to GoGoRoll Third Quarter's 2025 Earnings Conference Call. hosted by our CEO, Henry Zhang, and CFO, Bruce Aiken. Hopefully, you have a chance to review our earnings release. If not, you can find it along with today's presentation materials on the Investors Relations section of our website at investor.googleroad.com. We are hosting this call via live webcast, and the presentation materials will be displayed on your screen as we go. If you are joining us by phone, your lines are in listen-only mode. Henry will start with an overview of Gogoro's progress and the key highlights for the quarter, followed by Bruce, who will take you through the financial results in more detail. After that, we will open the line for Q&A as time allows. Before we begin, please know that today's discussion may include forward-looking statements which are subject to risk and uncertainties that could cause actual results to differ materially. Please refer to our press release and investor presentation for further information. We'll also discuss certain non-IFRS financial measures today. Reconciliation to the comparable IFRS measure can be found in our earnings release. With that, let me turn the call over to Henry.

Thanks, George. As we close the third quarter of 2025, I'm proud of how Gogoro continues to strengthen its foundation, one built on operational discipline, innovation, and long-term focus. The last few quarters have been about reinforcing the fundamentals that will power Gogoro's next chapter. Our focus on operational efficiency continues to deliver results. Over the first nine months of the year, Our focus has been on stabilization, efficiency, and cost optimization, and it shows we generated over $25.7 million in operating cash flow, nearly doubling last year's level, and achieved approximately $21 million in operating expense savings compared with the same period in 2024. We grew our adjusted EBITDA to $47 million over the first nine months of the year, a 25% increase over last year and delivered an adjusted gross margin of 19.3% for the nine months and improvement over 4.3 percentage points from 2024. These gains didn't happen by accident. They reflect a company-wide commitment to simplify, streamline, and strengthen. We've tightened all aspects of our operations, including a more efficient deployment of resources, lowering our inventory levels, improving our production planning, and increasing the efficiency of our selling channels and marketing efforts. These changes are translating into tangible outcomes, better cash conversion and improved flexibility to respond to shifting market demand. Our product roadmap is also expanding to position us for future growth. The launch of our Easy and Easy 500 models this year broadened Gogoro's reach across price segments, strengthening our competitive positioning in the mass market segments while reinforcing our technology leadership. The EZ has been the best-selling electric two-wheeler in Taiwan for five consecutive months, and the EZ500, which has a larger motor in the same light chassis, increasing performance to the 125cc level, became the best-selling 125cc electric two-wheeler in Taiwan in October. We expect these products to continue to lead their categories for the rest of 2025 and contribute meaningful sales volume and margin throughout 2026. Our Powered by Gogoro Network partners continue to scale and innovate. Yamaha's recent launch of the QC in August is a great example of how leading manufacturers are deepening their commitment to Gogoro's ecosystem. Each new PBGN model not only validates the strength of our technology, but also expands the value of our swapping network, creating a reinforcing loop of adoption, efficiency, and trust. It is clear that we have strengthened our operational foundation. We are more agile, more disciplined, and better prepared to navigate near-term headwinds while executing for long-term value. In 2025, we have proven that Gogoro can generate strong operating cash flow, expand margins, and execute with precision. Now, as we prepare for 2026, we are turning that foundation into momentum, leveraging a renewed product and technology portfolio to capture the next wave of electrification across Asia and beyond. This is where vision becomes action and where our leadership shapes the future of urban mobility. It is widely accepted that electrification of two wheelers will continue and that battery swapping solutions will drive much of that growth. Policymakers and customers alike are seeing the benefits of the battery swapping model. To capitalize on this momentum, We are investing in vehicle, battery, and ecosystem developments. The core of an EV's performance is its powertrain, and the heart of the powertrain is a motor. Over Gogoro's history, we've consistently developed the best electric two-wheel powertrain and motors, and we're currently developing another innovative motor, which will improve key metrics like vehicle energy efficiency. These improvements continue to deliver best-in-class performance for our vehicle customers, and we expect this motor to be ready for launch in late 2026. We are launching three vehicle models in 2026. These vehicles address multiple market segments. The specifications meet and exceed customer expectations and initial feedback from both channel partners and directly from riders has been very positive. We look forward to sharing those vehicles with markets in 2026. At the heart of our network and our recurring revenue subscription model is our battery pack. It is the most dense battery of its kind in the industry and our safety record is also industry leading. To build on our historical success, we've kicked off development on a totally new generation of battery pack, one that will have greater density, improve manufacturability, and lower cost, but is 100% compatible with all of our existing battery packs. This battery will specifically benefit customers in cost sensitive markets and will further demonstrate the total cost advantages of electric two wheelers versus ICE vehicles. As a result of both our operational focus as well as our product and technology innovation, We are entering the final quarter of 2025 confident in our ability to deliver on our promise of Go-Go Network profitability in 2026, Go-Go Network generating positive free cash flow in 2027, and hardware sales profitability in 2028. With that, let me hand it over to Bruce, who will take you through the quarter's financial results and provide more details on our outlook.