On May 12, 2022, Gogoro officially released its 2022 Q1 financial report, and things continue to look demonstrably good for the electric scooter technology company. Total first quarter 2022 revenue was $94.5 million, up an impressive 61 percent over the same period in 2021. That amount includes both hardware sales and Gogoro Network sales, and the company’s subscribers to its battery swapping services continued to rise, as well.
Breaking it down, hardware sales in 2022 Q1 were $65.1 million, which represents an 87.1 percent increase over the $34.8 million sold in 2021 Q1. Gogoro says this is due in large part to the increase in its market share in its home market in Taiwan. Notably, registrations of Gogoro-branded scooters also rose by 57.7 percent for 2022 Q1 over the same time frame in 2021.
