Q2 2023 Preliminary Earnings Results Summary August 3, 2023 Confidential information. Copyright © 2023. GoPro, Inc. All rights reserved. SAFE HARBOR STATEMENT This presentation may contain projections or other forward-looking statements within the meaning Section 27A of the Private Securities Litigation Reform Act. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “should,” “will” and variations of these terms or the negative of these terms and similar expressions are intended to identi ...

Financial Performance - GoPro reported revenue of $241.02 million for the three months ended June 30, 2023, a decrease of 3.3% compared to $250.69 million in the same period of 2022[14]. - The company's net loss for the second quarter of 2023 was $17.21 million, compared to a net income of $2.52 million in the same quarter of 2022[14]. - The company experienced a gross profit of $75.77 million for the second quarter of 2023, down from $96.00 million in the same quarter of 2022, reflecting a gross margin decline[14]. - Operating expenses increased to $98.27 million in Q2 2023, compared to $91.35 million in Q2 2022, driven by higher research and development costs[14]. - For the three months ended June 30, 2023, the net loss was $17.2 million, compared to a net income of $2.5 million for the same period in 2022[55]. - The basic net income (loss) per share for the three months ended June 30, 2023 was $(0.11), a decrease from $0.02 in 2022[55]. - Revenue from the Americas for the three months ended June 30, 2023, was $121.6 million, down from $126.4 million in 2022, a decline of 3.5%[72]. - Revenue from Europe, Middle East, and Africa (EMEA) for the three months ended June 30, 2023, was $66.5 million, down 7.2% from $71.7 million in 2022[72]. - Revenue from the United States, part of the Americas region, was $106.5 million for the three months ended June 30, 2023, compared to $108.0 million in 2022, a decrease of 1.4%[72]. Assets and Liabilities - Total current assets decreased to $523.19 million as of June 30, 2023, down from $606.03 million at the end of 2022, primarily due to declines in cash and marketable securities[11]. - GoPro's total liabilities decreased to $445.62 million as of June 30, 2023, compared to $465.37 million at the end of 2022[11]. - Cash and cash equivalents at the end of Q2 2023 were $189.91 million, down from $223.74 million at the beginning of the period[16]. - GoPro's inventory increased to $135.41 million as of June 30, 2023, compared to $127.13 million at the end of 2022, indicating potential challenges in sales[11]. - Total stockholders' equity as of June 30, 2023, was $563,479 thousand, a decrease from $611,559 thousand as of December 31, 2022, reflecting a decline of 7.8%[19]. - The net property and equipment decreased to $10.5 million as of June 30, 2023, from $13.3 million as of December 31, 2022, a decline of about 21%[29]. - Long-term deferred tax assets rose to $295.0 million as of June 30, 2023, up from $279.0 million as of December 31, 2022, an increase of approximately 5.7%[32]. - Accrued expenses and other current liabilities decreased to $100.1 million as of June 30, 2023, from $118.9 million as of December 31, 2022, a reduction of about 16%[33]. - The warranty liability was recorded at $7.3 million as of June 30, 2023, compared to $7.9 million as of December 31, 2022, indicating a decrease of approximately 7%[34]. Deferred Revenue and Tax Benefits - The company recognized $22.5 million in revenue from deferred revenue during the three months ended June 30, 2023, compared to $17.2 million for the same period in 2022, representing a 30.8% increase[22]. - GoPro's total short-term and long-term deferred revenue balances were $57.4 million as of June 30, 2023, compared to $60.4 million as of December 31, 2022, showing a decrease of 4.9%[23]. - The company’s gross unrecognized tax benefits were $25.3 million as of June 30, 2023, an increase from $23.4 million at the end of 2022[58]. - The company expects to recognize $11.6 million of unrecognized tax benefits, which would reduce income tax expense if recognized[58]. - The company recorded an income tax benefit of $4.0 million for the three months ended June 30, 2023, on a pre-tax net loss of $21.2 million[58]. Stock and Compensation - Stock-based compensation expense for the three months ended June 30, 2023, was $11,117 thousand, up from $10,314 thousand for the same period in 2022, indicating a 7.8% increase[19]. - Common stock issued under employee benefit plans for the three months ended June 30, 2023, was 375 shares, compared to 421 shares for the same period in 2022, reflecting a decrease of 10.9%[19]. - The total non-vested shares of Restricted Stock Units (RSUs) increased to 12,246 thousand shares as of June 30, 2023, from 8,727 thousand shares at the end of 2022[47]. - The Company granted 1,254 thousand Performance Stock Units (PSUs) during the six months ended June 30, 2023, with a weighted-average grant date fair value of $5.79[50]. - The Company issued 0.5 million shares under its Employee Stock Purchase Plan (ESPP) for the six months ended June 30, 2023, at a weighted-average price of $5.09 per share[50]. Strategic Decisions and Future Outlook - GoPro plans to continue focusing on expanding its product offerings and improving operational efficiencies to drive future growth[7]. - The Company recorded a total price protection charge of $26.7 million in March 2023 due to a strategic pricing decision to reduce the MSRP of its cameras, effective May 2023[23]. - The stock repurchase program authorized up to $140 million, with $80.4 million remaining as of June 30, 2023[40]. - During the three months ended June 30, 2023, the Company repurchased 3,606 shares at an average price of $4.16 per share, totaling $15 million[41]. - The average price per share for stock repurchases in the six months ended June 30, 2023 was $4.45, compared to $7.45 in the same period of 2022[41].

GoPro, Inc. (NASDAQ:GPRO) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Christopher Clark - Vice President of Corporate Communications Nicholas Woodman - Chief Executive Officer Brian McGee - Chief Financial Officer and Chief Operating Officer Conference Call Participants Martin Yang - Oppenheimer Operator Hello, everybody, and welcome to GoPro's First Quarter 2023 Earnings Conference Call. My name is Sam, and I'll be coordinating your call today. [Operator Instructions]. I wi ...

Q1 2023 Preliminary Earnings Results Summary Confidential information. Copyright © 2023. GoPro, Inc. All rights reserved. May 9, 2023 SAFE HARBOR STATEMENT This presentation may contain projections or other forward-looking statements within the meaning Section 27A of the Private Securities Litigation Reform Act. Words such as "anticipate," "believe," "estimate," "expect," "intend," "should," "will" and variations of these terms or the negative of these terms and similar expressions are intended to identify ...

Revenue and Profitability - Revenue for Q1 2023 decreased to $174.72 million, down from $216.705 million in Q1 2022[15] - Net loss for Q1 2023 was $29.869 million, compared to a net income of $5.685 million in Q1 2022[15] - Gross profit declined to $52.502 million, down from $90.476 million in Q1 2022[15] - Net income (loss) per share was $(0.19) for Q1 2023 compared to $0.04 for Q1 2022[56] - Revenue for Q1 2023 was $174.7 million, with Americas contributing $89.5 million, EMEA $46.0 million, and APAC $39.2 million[73] - The company's revenue was negatively impacted by approximately $7.4 million in Q1 2023 due to the strengthening of the U.S. dollar[133] Expenses and Costs - Research and development expenses increased to $38.185 million, up from $31.598 million in Q1 2022[15] - Total operating expenses rose to $92.316 million, compared to $82.314 million in Q1 2022[15] - GoPro recorded a $23.5 million price protection charge in Q1 2023 due to a strategic pricing decision to reduce camera MSRP effective May 2023[25] - Total stock-based compensation expense increased from $9.836 million in Q1 2022 to $10.314 million in Q1 2023[54] - Net lease cost increased from $2.119 million in Q1 2022 to $2.635 million in Q1 2023[63] - Cash paid for operating leases was $3.791 million in Q1 2023 compared to $3.777 million in Q1 2022[64] - Restructuring charges for Q1 2023 totaled $21,000, a significant decrease from $304,000 in Q1 2022[76] - The company recorded restructuring charges of $8.1 million in Q4 2022, primarily for camera production line closure costs[77] Cash and Cash Equivalents - Cash and cash equivalents decreased to $157.826 million from $223.735 million at the end of Q4 2022[11] - The company's cash equivalents decreased to $87.9 million as of March 31, 2023 from $138.4 million as of December 31, 2022[28] - Marketable securities totaled $136.8 million as of March 31, 2023, down from $143.6 million as of December 31, 2022[28] - The company's cash equivalents and marketable securities are primarily composed of money market funds, U.S. treasury securities, and corporate debt securities[133] Inventory - Inventory increased to $154.804 million, up from $127.131 million at the end of Q4 2022[11] - Total inventory increased to $154.8 million as of March 31, 2023 from $127.1 million as of December 31, 2022[31] - Finished goods inventory rose to $125.3 million as of March 31, 2023 compared to $88.7 million as of December 31, 2022[31] Assets and Liabilities - Total assets decreased to $1.022566 billion from $1.076925 billion at the end of Q4 2022[11] - Total liabilities decreased to $437.416 million from $465.366 million at the end of Q4 2022[12] - Stockholders' equity decreased to $585.150 million from $611.559 million at the end of Q4 2022[13] - The fair value of GoPro's 2025 Convertible Senior Notes increased to $137.4 million as of March 31, 2023 from $130.1 million as of December 31, 2022[29] - Property and equipment, net decreased to $12.2 million as of March 31, 2023 from $13.3 million as of December 31, 2022[32] - Long-term deferred tax assets increased to $288,867 thousand as of March 31, 2023, up from $279,045 thousand as of December 31, 2022[33] - Other long-term assets totaled $307,101 thousand as of March 31, 2023, compared to $289,293 thousand as of December 31, 2022[33] - Accrued sales incentives rose to $46,518 thousand as of March 31, 2023, up from $41,662 thousand as of December 31, 2022[35] - Warranty liability decreased to $7,245 thousand as of March 31, 2023, down from $8,012 thousand as of March 31, 2022[36] - Long-lived assets outside the United States were $3.2 million as of March 31, 2023, down from $4.0 million at the end of 2022[73] Deferred Revenue - GoPro's short-term and long-term deferred revenue balances totaled $59.4 million and $60.4 million as of March 31, 2023 and December 31, 2022, respectively[25] - The company recognized $16.5 million and $16.6 million of revenue from deferred revenue balances during the three months ended March 31, 2023 and 2022, respectively[25] Credit and Debt - The company has a $50.0 million revolving credit facility under the 2021 Credit Agreement, with no borrowings made to date[37] - The company issued $143.8 million aggregate principal amount of 1.25% Convertible Senior Notes due 2025[39] - The company recorded interest expense of $0.4 million for contractual coupon interest on the 2025 Notes for the three months ended March 31, 2023[40] - The company repaid $125.0 million of principal and $2.2 million of accrued interest on the 2022 Notes on April 15, 2022[41] Stock Repurchase and Equity - The company's board of directors authorized the repurchase of up to $100 million of its Class A common stock, with $95.4 million remaining as of March 31, 2023[42] - The company repurchased 890 thousand shares at an average price of $5.62 per share during the three months ended March 31, 2023[43] - Outstanding stock options decreased from 3,089 thousand shares at December 31, 2022 to 3,032 thousand shares at March 31, 2023, with a weighted-average exercise price of $9.25[47] - Non-vested RSUs increased from 8,727 thousand shares at December 31, 2022 to 11,972 thousand shares at March 31, 2023, with a weighted-average grant date fair value of $6.72[49] - Non-vested PSUs increased from 686 thousand shares at December 31, 2022 to 1,707 thousand shares at March 31, 2023, with a weighted-average grant date fair value of $6.46[51] Taxes - Income tax benefit was $8.3 million for Q1 2023 compared to $0.1 million for Q1 2022[60] - Gross unrecognized tax benefits increased from $23.4 million at December 31, 2022 to $24.4 million at March 31, 2023[60] Leases - Weighted-average remaining lease term for operating leases decreased from 3.81 years at December 31, 2022 to 3.61 years at March 31, 2023[65] - Total lease payments as of March 31, 2023, amount to $45.4 million, with a present value of lease liabilities at $40.3 million[67] - The company's total undiscounted future expected obligations under multi-year agreements is $222.5 million[67] Accounts Receivable - Customer A represented 26% of the company's net accounts receivable balance as of March 31, 2023, down from 30% at the end of 2022[70] - Accounts receivable sold in Q1 2023 totaled $16.7 million, a decrease from $23.9 million in Q1 2022[71]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________________ to ________________ Commission file number: 001-36514 GOPRO, INC. (Exact name of registrant as specified in its charter) Delaware 77-0629474 (State or other ...

Q4 2022 Preliminary Earnings Results Summary February 2, 2023 Confidential information. Copyright © 2023. GoPro, Inc. All rights reserved. SAFE HARBOR STATEMENT This presentation may contain projections or other forward-looking statements within the meaning Section 27A of the Private Securities Litigation Reform Act. Words such as "anticipate," "believe," "estimate," "expect," "intend," "should," "will" and variations of these terms or the negative of these terms and similar expressions are intended to iden ...

GoPro, Inc. (NASDAQ:GPRO) Q4 2022 Earnings Conference Call February 2, 2023 5:00 PM ET Company Participants Christopher Clark - Vice President of Corporate Communications Nicholas Woodman - Chief Executive Officer Brian McGee - Chief Financial Officer & Chief Operating Officer Conference Call Participants Anna Glaessgen - Jefferies Jim Suva - Citi Martin Yang - Oppenheimer Operator Good afternoon. Thank you for attending the GoPro Q4 2022 Earnings Call. My name is Matt, and I'll be your moderator for today' ...

Start Time: 17:00 January 1, 0000 5:28 PM ET GoPro, Inc. (NASDAQ:GPRO) Q3 2022 Earnings Conference Call November 03, 2022, 17:00 PM ET Company Participants Nicholas Woodman - Chairman and CEO Brian McGee - EVP, CFO and COO Jalene Hoover - VP, IR Conference Call Participants Martin Yang - Oppenheimer Jim Suva - Citigroup Erik Woodring - Morgan Stanley Operator Hello, everybody, and welcome to today's GoPro's Third Quarter 2022 Earnings Call. My name is Drew, and I'll be coordinating your call today. [Operato ...