Gogoro Inc.

Welcome to the Gogoro Inc. 2026 first 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 would like to turn the call over now to the Gogoro team.

Welcome to GoGoro's 2026 First Quarter Earnings Conference Call, hosted by our CEO, Henry Jiang, and CFO, Bruce Aitken. Hopefully by now you have a chance to review our earnings release. If you haven't, it is available on the Investor Relations tab of our website, investor.gogoro.com. We are hosting this call via live webcast, and the presentation materials will be displayed on the screen as we go. Henry will start with an overview of Bogoro's business progress, 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 note that today's discussion may include forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially and include statements relating to trends opportunities and uncertainties in the markets we operate, future financial metrics and product launches. Please refer to our press release and investor presentation for further information. We will 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, Annie. Thank you for joining us. Q1 sets a strong tone to kick off the year. We execute it with precise discipline. Scooter volume increased, triggering the first step in rolling out our new product roadmap. Our energy network revenue continues to grow. Subscriber counts continue to expand. Our recurring revenue engine proves its stickiness. The baseline is set. We are carrying this top to bottom momentum straight into Q2 and the rest of the year. Let's start with our Q1 financials. The numbers are the direct result of our continued focus on cost efficiency and operational discipline. We generated $3.1 million in positive operating cash flow, marking a $12 million year-over-year increase. Most importantly, we hit the major structural milestone. Our IFRS and non-IFRS gross margins are now converging at the 20% level. This optimized cost structure allowed us to cut our net loss by $10.7 million down to $7.9 million, while expanding adjusted EBITDA to $16.3 million. Reaching this leaner stronger baseline is a huge encouragement to me and our entire team. Our energy business is tracking to plan, validating the stickiness of our recurring base. We improved our customer satisfaction and elevating the rider experience even further requires decisive action. In Q1, we began systematically retiring our Gen 1 batteries and staging our next-generation technology. We also introduced GoStation Q. With one-third the footprint, standard 220 volts, and faster charging, it unlocks aggressive overseas expansion. Together, these upgrades are engineered to drive down costs, maximize performance, and fortify our long-term economics. To execute, We have allocated approximately $30 million in capex this year for these targeted network upgrades. Product is king. Q1 marks the first step in our elevated product roadmap, bound by a targeted, consumer-centric strategy. We are doubling down on engineering our portfolio with clear philosophy and focus. Every vehicle must be exceptionally well-designed, easy to use, and a joy to ride, merging immediate emotional appeal with fundamental everyday utility. Our EZ500 Disney collaboration brought this strategy to life. It is a vehicle that delivers big smiles, pure joy, and deep emotional connection, winning the hearts of family riders. With over 1,000 units ordered in the first month, it drove volume across the entire EZ500 family and solidified our entry-level leadership. It also pulled a new, younger 26 to 35 demographic into our network ecosystem. Capturing this entry-level volume caused an expected slight ASP dilution this quarter, but we expect the primary revenue impact to materialize in Q2 as we fulfill our Q1 orders. In June, we execute Step 2 of our product roadmap. Shifting focus to elevate our product mix and capture diverse customer segments, we plan to launch an all-new premium vehicle tailored explicitly for female riders. This new product is strategically positioned to capture surging mid to high-end demand, drive ASP expansion, and solidify our position as the undisputed brand of choice among female riders. We plan to continue to execute targeted product rollouts throughout the year to capture distinct market segments and fuel sustainable growth. We continue to deepen our commercial and government reach. In Q1, we successfully delivered scooters to law enforcement and public sector fleets. This proves the reliability of our battery swapping platform for mission critical nonstop use. We also officially finalized partnerships with leading shared mobility operators to fully integrate our open ecosystem. We are pleased to see this collaborative industry growth. This collective momentum is exactly what is needed to scale shared mobility and drive mass electrification. Together, these commercial and government expansions secure sticky, long-term demand for our ecosystem. Taiwan was our proving ground, the critical foundation we've built over the last 10 years. Now we are taking this proven blueprint into Southeast Asia. The Vietnam market dynamic shows a clear EV inflection point. we are seeing accelerating EV penetration across a massive total addressable market. The broader two-wheeler market grew 8.3% to approximately 730,000 units in Q1, but electric vehicles are driving the growth narrative. Even with temporary government controls on stabilizing fuel prices, local EV adoption is surging. Leading electric brands are reporting double- to triple-digit year-over-year volume growth, overtaking market share from ICE brands. This consumer shift sets the runway for the launch of our upcoming pilot in the second quarter. Our market entry into Vietnam is well-timed. We thank our local competitors for validating battery swapping as the most effective way for urban electrification. The market is educated. Last year, local leaders sold over 400,000 electric two-wheelers. Recent fuel price volatility is driving unprecedented demand. However, this growth has created a clear infrastructure bottleneck. Key municipalities, including Ho Chi Minh City, are now mandating large-scale deployments of battery swapping stations to support this volume. Demand is surging, policy is accelerating, yet premium infrastructure remains underserved. This is our window. Our ecosystem powers the needs of high-mileage B2B riders with always-on infrastructure. We are striking at the perfect moment. We are stepping directly into a market right at the peak of demand. With that, I will hand the call over to Bruce to walk you through our Q1 financial results in more detail.