TAIPEI (Taiwan News) — Gogoro is considering delisting from Nasdaq and returning to the Taiwan stock exchange to reduce hefty annual administrative costs.
The electric scooter maker debuted on Nasdaq in April 2022, with shares once topping US$17, per UDN. However, the stock dropped below US$1 in September, triggering a compliance warning from Nasdaq to regain listing standards within 180 days, per The Storm Media.
Ahead of the deadline, Gogoro applied to transfer its listing from the Nasdaq Global Select Market to the Nasdaq Capital Market. The move was approved in late April and allows the company to retain its Nasdaq status. Still, Gogoro is reportedly evaluating whether to delist entirely due to rising compliance and reporting costs, estimated at US$8 million per year.
Gogoro reported first-quarter revenue of NT$1.93 billion (US$63.62 million), down 8.7% year-on-year, per CNA. Gross margin fell to 4.9% from 6.4% last year, while its net loss widened to US$18.56 million from US$13.12 million over the same period.
Analysts say delisting could help Gogoro trim operating losses and free up funds, particularly as it works toward profitability, while the company said the Taiwanese market is more familiar with the scooter business.
After restructuring, Gogoro aims to break even in its energy business by 2026 and its vehicle business by 2028, countering criticism that the firm has been a bottomless pit of losses.
The company emphasized that the recent market-tier transfer will not affect daily operations or shareholder rights. While delisting remains under review, Gogoro said it is prioritizing customer satisfaction and financial stability as it pushes toward long-term profitability.
