Financial Performance - Revenue for Q1 2025 was $134.3 million, a decrease of 13.6% compared to $155.5 million in Q1 2024[18]. - Gross profit for Q1 2025 was $43.1 million, down from $53.0 million in Q1 2024, reflecting a gross margin decline[18]. - Operating loss for Q1 2025 was $45.2 million, compared to a loss of $41.4 million in Q1 2024[18]. - Net loss for Q1 2025 was $46.7 million, significantly improved from a net loss of $339.1 million in Q1 2024[18]. - Adjusted EBITDA for Q1 2025 was negative $15.7 million, an improvement from negative $29.3 million in Q1 2024[174]. - Total revenue for the three months ended March 31, 2025, was $134.3 million, a decrease of 13.6% compared to $155.5 million for the same period in 2024[147]. - Revenue declined by 13.6% in the three months ended March 31, 2025, compared to the same period in 2024, resulting in operating losses of $45.2 million[213]. Cash and Liquidity - Cash and cash equivalents decreased to $69.6 million as of March 31, 2025, down from $102.8 million at the end of 2024[15]. - Operating cash outflows for Q1 2025 were $57.2 million, compared to $98.4 million in Q1 2024[21]. - The Company estimates it will maintain liquidity for at least 12 months, but future cash generation is uncertain due to factors like inflation and competition[37]. - As of March 31, 2025, the company's cash balances were $27.3 million, down from $60.4 million as of December 31, 2024[64]. - The company drew $25.0 million from its 2021 Credit Agreement in February 2025, with an additional $19.8 million available to draw[32]. Assets and Liabilities - Total assets decreased to $462.5 million as of March 31, 2025, compared to $543.7 million at the end of 2024[15]. - Total liabilities were $352.5 million as of March 31, 2025, down from $392.0 million at the end of 2024[15]. - The carrying amount of goodwill as of March 31, 2025, was $133.8 million, down from $152.4 million due to an impairment of $18.6 million[79]. - The company reported accrued expenses and other current liabilities of $78.5 million as of March 31, 2025, a decrease of approximately 29% from $110.8 million as of December 31, 2024[80]. Revenue Breakdown - Subscription and service revenue was $26.9 million, or 20.0% of total revenue for Q1 2025, compared to $25.9 million, or 16.7% for Q1 2024[46]. - Revenue from the Americas region was $81.9 million, up 6.5% from $76.6 million in the prior year, while revenue from EMEA and APAC regions decreased by 22.9% and 54.1%, respectively[147]. - Retail revenue in Q1 2025 was $93.9 million, representing 69.9% of total revenue, compared to 68.4% in Q1 2024[171]. - GoPro.com revenue, including subscription and service revenue, was $40.4 million in Q1 2025, accounting for 30.1% of total revenue[171]. Operational Changes - The Company has implemented restructuring actions in 2024 to maintain liquidity and operations, including headcount reductions and managing working capital[36]. - The company reduced its global workforce by 25% as part of its restructuring plans, which included significant severance costs[152]. - The operational plan for 2025 includes reducing research and development costs and sales and marketing expenses[36]. - The restructuring charges for the first quarter of 2025 totaled $2.43 million, an increase from $2.21 million in the first quarter of 2024[151]. Market and Competition - The company continues to face pressures from inflation and fluctuating interest rates, which may impact pricing and consumer spending[167]. - Camera units shipped in Q1 2025 decreased by 2.0% year-over-year to 385 thousand, compared to 393 thousand in Q1 2024[171]. - Average selling price in Q1 2025 decreased by 11.8% year-over-year to $349[189]. Goodwill and Impairment - The company recorded a goodwill impairment of $18.6 million in Q1 2025[18]. - The Company recognized a goodwill impairment charge of $18.6 million due to a decline in market capitalization, with no impairment recorded in 2024[40]. Tax and Legal Matters - The company recorded an income tax expense of $1.7 million on a pre-tax net loss of $45.1 million for the three months ended March 31, 2025, compared to an income tax expense of $298.2 million on a pre-tax net loss of $40.9 million in 2024[124][125]. - As of March 31, 2025, the company's gross unrecognized tax benefits were $28.8 million, with $12.8 million of these benefits potentially reducing income tax expense if recognized[127]. - The company anticipates an initial ruling in July 2025 regarding its patent infringement complaint against Arashi Vision Inc.[139]. Stock and Financing - The Company has authorized a total of $140.0 million for stock repurchases, with $60.4 million remaining as of March 31, 2025[102][103]. - The company may require additional financing to execute its business strategy, which may not be available on favorable terms[37]. - The 2025 Notes mature on November 15, 2025, unless repurchased or converted into shares of Class A common stock[207].

Revenue Performance - Q1 2025 revenue was $134 million, down 14% year-over-year from $155 million[7]. - Subscription and service revenue increased 4% year-over-year to $27 million, with a subscriber count of 2.47 million, down 1% year-over-year[7]. - GoPro's retail channel revenue was $94 million, accounting for 70% of total revenue, down 12% year-over-year[7]. Profitability and Loss - GAAP net loss was $47 million, or $(0.30) loss per share, compared to a net loss of $339 million, or $(2.24) loss per share, in the prior year period[7]. - Non-GAAP net loss was $19 million, or $(0.12) loss per share, compared to a non-GAAP net loss of $319 million, or $(2.11) per share, in the prior year period[7]. - Net loss for the three months ended March 31, 2025, was $46,709,000, significantly improved from a net loss of $339,088,000 in the same period of 2024[20]. - Non-GAAP net loss for the same period was $19,444,000, compared to $319,357,000 in 2024, indicating a substantial reduction in losses[24]. Margins and Expenses - GAAP gross margin was 32.1%, down from 34.1% year-over-year, while non-GAAP gross margin was 32.3%, down from 34.4%[8]. - Non-GAAP operating expenses were $62,044,000 in Q1 2025, down from $83,349,000 in Q1 2024, reflecting a reduction of approximately 25%[25]. - Operating expenses decreased by 26% year-over-year, with R&D expenses at $29.6 million, down from $44.6 million[3]. - Adjusted EBITDA improved to negative $16 million, a 46% improvement year-over-year from negative $29 million[7]. - Adjusted EBITDA for Q1 2025 was $(15,707,000), an improvement from $(29,301,000) in Q1 2024[25]. Assets and Liabilities - Total assets decreased from $543,678,000 in December 2024 to $462,510,000 in March 2025, a decline of approximately 15%[19]. - Total current liabilities decreased from $356,267,000 in December 2024 to $316,891,000 in March 2025, a reduction of approximately 11%[19]. - Stockholders' equity decreased from $151,689,000 in December 2024 to $109,980,000 in March 2025, a decline of about 28%[19]. - Cash and cash equivalents at the end of the period were $69,634,000, down from $102,811,000 at the beginning of the period, a decrease of about 32%[20]. Product Development - GoPro launched a Limited Edition Polar White HERO13 Black camera and an Anamorphic Lens Mod in March 2025[9]. - The company expects new products planned for 2025 and 2026 to drive a return to revenue and profitability growth[4]. Goodwill and Impairment - Goodwill impairment of $18,600,000 was recorded in Q1 2025, with no such impairment in Q1 2024[24].

Core Insights - GoPro, Inc. reported Q1 2025 revenue of $134 million, a decrease of 14% year-over-year, and positioned at the high end of guidance [1][6][7] - Subscription and service revenue increased by 4% year-over-year to $27 million, driven by a 5% growth in average revenue per user (ARPU) [1][7] - The company aims to return to revenue and profitability growth through new product launches planned for 2025 and 2026 [3] Financial Performance - Q1 2025 revenue was $134 million compared to $155.5 million in Q1 2024, reflecting a 13.6% decline [6][18] - Gross margin for Q1 2025 was 32.1%, down from 34.1% in the previous year, indicating a 200 basis points decrease [6][27] - GAAP net loss for Q1 2025 was $46.7 million, or $(0.30) per share, significantly improved from a net loss of $339 million, or $(2.24) per share, in Q1 2024 [7][18][24] Operational Highlights - Operating expenses decreased by 26% year-over-year, contributing to improved financial performance [2] - Sell-through of camera units was approximately 440,000, down 18% year-over-year [7] - The subscriber count at the end of Q1 2025 was 2.47 million, a slight decrease of 1% year-over-year [7] Product Developments - In January 2025, GoPro launched an upgrade for its entry-level HERO camera, enhancing video capabilities [7] - The company released an updated 360 mobile editing experience in its Quik App in February 2025 [7] - A Limited Edition Polar White colorway for the HERO13 Black camera was launched in March 2025, along with the Anamorphic Lens Mod [7] Cash Flow and Balance Sheet - Cash and cash equivalents at the end of Q1 2025 were $69.6 million, down from $102.8 million at the end of Q4 2024 [19][21] - Total assets decreased to $462.5 million from $543.7 million at the end of the previous year [19][20] - Total liabilities were $352.5 million, down from $391.9 million at the end of 2024 [20]

Core Viewpoint - GoPro is expected to report a quarterly loss of $0.13 per share, a 38.1% increase in losses year-over-year, with revenues projected at $124.98 million, reflecting a 19.6% decrease compared to the same period last year [1] Group 1: Earnings Estimates - The consensus EPS estimate for the quarter has been revised downward by 3.1% over the past 30 days, indicating a reassessment by analysts [2] - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock performance [3] Group 2: Revenue and Key Metrics - Analysts estimate 'Revenue- GoPro.com' at $38.92 million, a decrease of 20.8% from the prior-year quarter [5] - 'Revenue- Retail' is projected to be $85.86 million, down 19.2% from the previous year [5] - The estimated 'Units shipped - Camera' is 342.4 thousand, compared to 393 thousand in the same quarter last year [5] - The estimated 'Average Selling Price' is $365.02, down from $395 in the same quarter of the previous year [6] Group 3: Stock Performance - GoPro shares have increased by 21% over the past month, outperforming the Zacks S&P 500 composite, which rose by 11.3% [6] - With a Zacks Rank of 3 (Hold), GoPro is expected to closely follow overall market performance in the near term [6]

Core Viewpoint - The market anticipates GoPro (GPRO) to report a year-over-year increase in earnings despite lower revenues for the quarter ended March 2025, with actual results being crucial for stock price movement [1][2]. GoPro Earnings Expectations - GoPro is expected to report a quarterly loss of $0.13 per share, reflecting a year-over-year change of +38.1% [3]. - Revenues are projected to be $124.98 million, down 19.6% from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised 3.13% lower in the last 30 days, indicating a bearish sentiment among analysts regarding GoPro's earnings prospects [4][10]. - The Most Accurate Estimate is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -4% [10][11]. Earnings Surprise Prediction - A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank of 1, 2, or 3 [8]. - GoPro currently holds a Zacks Rank of 3, making it challenging to predict an earnings beat conclusively [11]. Historical Performance - In the last reported quarter, GoPro was expected to post a loss of $0.11 per share but actually reported a loss of $0.09, resulting in a surprise of +18.18% [12]. - Over the past four quarters, GoPro has beaten consensus EPS estimates four times [13]. Industry Comparison - In the Zacks Audio Video Production industry, Sonos (SONO) is expected to post a loss of $0.18 per share, indicating a year-over-year change of +47.1% [17]. - Sonos's revenue is expected to be $255.92 million, up 1.3% from the previous year [17]. - The consensus EPS estimate for Sonos has been revised 220.8% lower in the last 30 days, but a higher Most Accurate Estimate has resulted in an Earnings ESP of 25.71%, suggesting a likely earnings beat [18].

文 ｜ 徐涛 梁楠 智能影像设备聚焦"便携+智能"属性，2 0 2 3年全景/运动相机全球空间近4 0 0亿，且乘风短视频、户外运动等发展浪潮，2 0 2 3 - 2 年有望以1 0%~1 5%的复合增速持续扩容。格局角度看，近年来本土厂商立足突出的产品力、持续迭代的产品矩阵已跻身全球市 场前三。供应链角度，光学+DSP/SOC为智能影像设备核心元件，成本占比超5成，同时AI等软件算法重要性持续提升。看好本 土智能影像设备产业发展，建议关注全景运动相机龙头，以及光学镜头&模组供应商。 ▍ 行业概览：智能影像设备聚焦"便携+智能"，全景/运动相机2 0 2 3年全球空间近4 0 0亿。 智能影像设备是集成计算处理能力的便携影像设备，包括全景相机、运动相机、航拍无人机、可穿戴摄影设备等，相较于传统 影像设备而言在产品形态&外观（更小巧精美等）、拍摄灵活性（更便携等）以及后期处理便捷性（快速剪辑&编辑等）等多 维度均有显著提升。2 0 1 5年前后VR浪潮到来，2 0 1 9年前后短视频平台兴起，2 0 2 2年前后户外运动需求快速成长，智能影像设 备市场受益时代浪潮而迅速增长。 ▍ 竞争格局：本土厂商已跻身全球市 ...

Core Viewpoint - GoPro, Inc. is set to release its financial results for Q1 2025 on May 12, 2025, after market close, followed by a conference call to discuss the results [1] Group 1 - The financial results will cover the period ending March 31, 2025 [1] - A conference call and live webcast will take place at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day [1] - A webcast link and management commentary will be available on the Company's Investor Relations website prior to the call [1] Group 2 - Participants can join the live conference call by dialing +1 833-470-1428 (US) or +1 404-975-4839 (International) with access code 936610 [2] - A replay of the call will be accessible on the investor page approximately two hours after the call until August 10, 2025 [2] Group 3 - GoPro is recognized as an employer of choice by Outside Magazine and U.S. News & World Report [3] - The company encourages customers to submit photos and videos for the GoPro Awards, which offers opportunities for features on social channels and rewards [4]

Core Viewpoint - GoPro, Inc. has appointed Mick Lopez to its Board of Directors, effective immediately, and has nominated two additional candidates, Mike Dennison and Emily Culp, for election at the upcoming annual stockholder meeting on June 3, 2025 [1][4]. Group 1: Appointment of Mick Lopez - Mick Lopez is recognized as an experienced CFO and board partner, bringing strategic and financial governance expertise to GoPro [2][3]. - His previous leadership roles include positions at Vista Outdoors, L3 Harris, IBM, and Cisco Systems, and he recently served as CFO at Ribbon Communications [3]. Group 2: Nomination of Additional Candidates - Mike Dennison, CEO of Fox Factory Holding Corp., oversees approximately $1.4 billion in business operations across 29 global locations and holds board positions at multiple companies [5]. - Emily Culp, Chief Brand and Strategy Officer at BodyHealth, scaled revenues from the single teens to over $100 million and has prior experience as CEO of Cover FX Skincare Inc. [6].

Core Insights - GoPro has launched the Anamorphic Lens Mod for the HERO13 Black, aimed at filmmakers and content creators seeking professional cinematic visuals at a lower cost [1][2] - The lens accessory offers a 21:9 aspect ratio and ultra-wide field of view, enhancing the camera's capabilities while being portable and durable [2][3] Product Offerings - The Anamorphic Lens Mod is priced at $129.99 and is available for individual purchase alongside other accessories like the Ultra Wide Lens Mod ($99.99), Macro Lens Mod ($129.99), and ND Filter 4-Pack ($69.99) [2][4] - GoPro is also offering a complete HB-Series Lens Collection in a protective case for $349.99, with a bundle including the HERO13 Black and all lens mods set to be available for $699.99 in Q2 2025 [5] Technological Features - The Anamorphic Lens Mod is compatible with the HERO13 Black's Auto Detect feature, allowing automatic camera setting adjustments and in-camera "de-squeezing" for easier post-production [3] - The lens is designed to withstand harsh conditions, being waterproof and rugged for adventure filmmaking [3] Retail and Distribution Strategy - GoPro is expanding its retail presence, having added 1,200 new retail doors in Q3 2024, with plans to add another 3,000-6,000 by the end of 2025 [7] - A distribution collaboration with SoftBank Group's SB C&S Corporation in Japan will enhance GoPro's market reach [8] Subscription Revenue Growth - GoPro's subscription service, which includes benefits like unlimited cloud storage and camera replacement, generated $27.2 million in Q4, reflecting a 9% year-over-year increase [10] - Improved retention rates contributed to an 8% increase in average revenue per user [10]

Anamorphic Lens Mod for HERO13 Black Delivers Dramatic, Hollywood-like Video for Creators and Filmmakers in a Tremendously Affordable PackageSAN MATEO, Calif., April 3, 2025 /PRNewswire/ -- GoPro (NASDAQ: GPRO) is now shipping the Anamorphic Lens Mod for its new camera, HERO13 Black. Anamorphic Lens Mod delivers expanded performance for creators and filmmakers looking to achieve cinematic and artistic video from HERO13 Black. With a Hollywood-ready 21:9 aspect ratio and ultra-wide field of view complemented ...