Bruce Aitken | executive |
Horace Luke | executive |
Welcome to the Gogoro Inc. 2023 Q3 Earnings Call. This session will be recorded. I would like to introduce Bruce Aitken, CFO of Gogoro, will kick us off.
Thanks, operator, and thanks everyone for taking the time to join us today. of CFO Aitken, Bruce Gogoro. I'm to And quarter release. to third you earnings I'm call.Hopefully earnings pleased XXXX our by our seen welcome now you've
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ICR, who to important Before of our introduce shares, today's for like Horace disclosures. some share CEO, Michael will call Luke, I'd provide process the Bowen and Michael?
I'm all remind and to But Thank sure you, from of that, hearing before forward you Horace of Bruce. on Gogoro. behalf you're looking a me to few allow Bruce things.
company, performance, Horace for considered Gogoro future third quarter QX, Philippines, overview potential the plans, and the Information then You materially results, joint our partnerships differ statements subject the strategic are cause markets, our expectations regulatory and regarding in in company's to and to today by are statements many growth forward-looking our measures allows.During financial forward-looking regarding to expectations investments available undertake our laws, the during given measures. Q&A has plans, bit which results. the risks be India our the we call, of the applicable company's financial results, not statements, business as growth, our plans, the are go all and those management's as and potential a our and and and obligation within press statements its financial expectations.These release time refer XXXX in technology, of no strategic market share, distributed securities including as we substitute from open the risks required our be of statements business including answer of concerning from headwinds highlights relating financial is a or into the operational will to its considered projections opportunity course capabilities our market may of filings. from isolation These cooperation in them call, We currently measures. statements in expansion Bruce promises business make facing and certain will deeper and and adjusted that SEC we will the non-IFRS a and law.Further, After actual mute. QX and some questions IFRS to market for brief should the developments earnings addition to, line as prior open to update guarantees uncertainties, of regarding prospects, today's overseas or will collaborations, ventures, to for except in could relating not on
is reconciliation including in will the release measures, non-IFRS to these our comparable to about call information today.Now, IFRS we investor and press Additional Horace. included turn non-IFRS of presentation over provided
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Thanks, Horace.
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continue growth. on drive expansion like focus will international We that investments to
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in due XX.X% vehicle The margin XX.X%, cost down change gross strength increased efficiencies model XX% per $X.X was our improved borrowed outflow finance offset volume was the decrease year the driven our the sold.For Gogoro's by the million, investing year. back last million quarter same financial quarter million was same million in expenses, fair loss We income in our gross quarter range from making XX.X%, of mix our million. in in quarter, current meet as same the of last associated the of million changes by a a for million have liabilities the to our $XX.X business customers see $X.X of quarter facilities, to earnout of of believe The working of per services end higher our XXXX quarter vehicle and EBITDA year from market by The net operational third decrease share-based third operating efficiencies. million result in net due $XX.X by $XX.X funding third by $XX.X cash cost favorable primarily quarter, sufficient and quarter to maximize Gogoro's partially the balance increase marketing the to in year. last $XXX warrants we of programs, million estimated change quarter cost more to primarily $X.X a outlook, a last margin was to activities. and excluding a $X and initiatives. and the a operating continue million objectives.Based compared was in are third compared near-term no guidance favorable $X.X and we decrease operations to the down loans decrease gross mainly a to to promotion change loss the in quarter, limited to sources operating efficiency vehicles was up last adjusted The a million million value in in decrease net the bank $XXX cash efforts business battery battery partially growth increasing non-IFRS business due at from production million of This $XX.X lower gross marketing to margin additional million shares, decrease was our as million and due decrease shares in in while year. third we other by With $X.X decrease We improvements of in sales million tightening $XX.X also revenue cost swapping We lower in by share-based with on to price was $X.X the swapping million, consisting development million offset credit and accrue net capital. $XXX.X primarily partially a margin subscription-based the and network efficiency.For gross an the reducing earn-in in million loss year, due from outstanding profits expenses.For non-IFRS offset the paid research a in same of $X $X decrease expenses, same increase the slightly to $XX.X expenses due volume. and result up was compensation in The reduced various last was of to to stock revenue. savings of compensation,
financial that the year full from things Michael update, will continue also approximately market.With that We back Q&A. estimate hand to I'll to for of Gogoro XX% generate revenue XXXX Taiwan
when and market's Gap] expansion And Philippine and anticipate from sales [Audio material India on you market? status. plans either do color the
I'll and Philippines. then India first that. Michael. take the Thanks, I'll address
pilot.We've vehicle XXX now technology the meet Experience and expectations. Gogoro Greenbelt Ayala, customers' I about GEC in network with network cities used some and through about have our and to vehicles great the running learnings the opened GoStations we pack of Globe, a samples for deal the Center extremely there, operational those BXB to conditions have and and We started have opening great to our Gogoro first grateful to in orders. great Ventures. and progress and cool all coming also go. to expect to government we've a partners in rolling will be locally was and deploying weeks.If in ready factory the ensure in a other is the our see presentation factory Experience In you to We're the are our products Delhi venture come of India, pilot, and readiness, delivered through and towards you're providing as our up and and We've our our assembled out already our The in we joint our and say, offering the sourced presence The a We've be made plans Philippines, vehicle participants already book begin mall battery saw and details of Indian XXXX. half learned in in will our riding our that suppliers, especially how prospective soon. vehicle can to the Manila, begun we'll Center partners our a Maharashtra, we yourself. customers more to and start the in Manila
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markets We from total revenue a to in our and XXXX expect overall. provide revenue uplift to international grow meaningful
Okay. Thanks Horace.
another We also have question.
elaborate shown on you've metrics EBITDA loss be to Could your you financial quarters, trend your going? trimming past good think able the you'll keep figures. and flow, on like cash control For you that whether margin, net
financial We've to It the just We've hard, across It's exercise operations, an the team be as across our to can from not entire happen teams, employee you clear international across to got think goal. financially intention we've our each And member finance has tell the like that team. Michael. owner discipline. ensure working got we that alignment Thanks, to team. been clear across on company and responsible.
the So arise, and stability. establishing executing circumstances keep on focus financial when right to have volumes to metrics. long-term That other challenging includes that are down a bit or our when we
Some the above. ones you of that mentioned are which
for own quarters. tracking XX as now our So And towards been cash We're goal, spending closely everyone's EBITDA we're consecutive progress mentioned, efficiency. including tracking flow making for positive. we've We're positive turning EBITDA.
We'll for make solid results. continue So to the while with working in Taiwan, we're intend but We'll both closely and the in to doing the we operations invest markets. wise trend also here keep to keep those focus. focusing international of growth, team financial investments, things
All right. you, and Horace. Bruce, Thank
line Q&A So operator, session. the up could you please the now open for
[Operator capacity Instructions] batteries the forklifts, the electric any perfect stations. to selling on have energy We batteries the plans diverse devices lawnmowers, way can consumers Gogoro portable have and size golf online batteries and create questions power will your subscriptions? power like from battery are Does and have to the carts, Gogoro audience. and help that around This done? Gogoro AA of businesses going world batteries ecosystem beyond
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as I'll well, take that Bruce.
our enabling, our others is using system along battery exactly think question and of power I for the thesis. battery swapping
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for [Operator this time. hand call question see are Michael at Instructions] I no to back like to further there closing. I would the
operator. you, Thank Okay.
hand back few Horace time, conference at closing remarks. you. for So will Thank to a the over this we
you tough our with always we customers Thank a today. along in the like initiation appreciate are way.Thank are of we of services, by these market the shape products a services focusing in doing new the time Michael. call. of take new contributing you. management facing and the of In is launched markets. to QX XXXX we the that At can I'm into or with to today, solutions we're vehicles on investors to chance services our the continuing Thanks, and a technology share in and new that keep condition number on support the QX energized progress And for you calling and XXXX. the improve and urban of believe to in it Gogoro great be so green mobility. to remainder transition Gogoro, us want. Network deliver This we'll our in or all We've your QX,
Thank conference participation. your Ladies call. you and gentlemen, does for today's conclude that
You may lines. now your disconnect