Core Insights - GoPro reported a revenue of $134.31 million for the quarter ended March 2025, which is a decrease of 13.6% year-over-year, but exceeded the Zacks Consensus Estimate of $124.98 million by 7.46% [1] - The company's EPS was -$0.12, an improvement from -$0.21 in the same quarter last year, and also surpassed the consensus EPS estimate of -$0.13 by 7.69% [1] Performance Metrics - GoPro shipped 385 thousand cameras, exceeding the average estimate of 342.4 thousand from four analysts [4] - The subscriber count reached 2.47 million, slightly above the estimated 2.46 million [4] - The average selling price of cameras was $349, lower than the estimated $365.02 [4] - Revenue from GoPro.com was $40.43 million, surpassing the estimate of $38.92 million, but reflecting a 17.8% decline year-over-year [4] - Retail revenue was $93.88 million, exceeding the estimate of $85.86 million, but down 11.7% compared to the previous year [4] Stock Performance - GoPro shares have increased by 24.1% over the past month, significantly outperforming the Zacks S&P 500 composite, which rose by 3.8% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the broader market in the near term [3]

Financial Data and Key Metrics Changes - First quarter revenue was $134 million, at the high end of guidance of $125 million, driven by stronger sell-through [13] - Non-GAAP operating expenses decreased by 26% year over year to $62 million from $83 million [14][18] - GAAP and non-GAAP loss per share were $0.30 and $0.12 respectively, with adjusted EBITDA loss reduced by nearly 50% year over year to negative $16 million [16][19] - Inventory at the end of the quarter was $96 million, a 27% decrease year over year [16] Business Line Data and Key Metrics Changes - Revenue from the retail channel was $94 million, accounting for 70% of Q1 2025 revenue, up from 68% in Q1 2024 [14] - Revenue from the GoPro.com channel, including subscription and service revenue, was $40 million, representing 30% of Q1 2025 revenue, down from 32% in Q1 2024 [14] - Subscription and service revenue grew 4% year over year to $27 million, primarily due to a 5% increase in ARPU [15] Market Data and Key Metrics Changes - Sell-through was approximately 440,000 units, down from 530,000 units in the prior year period, primarily due to decreases in Asia Pacific driven by macroeconomic issues and competition [17] - In the United States, sell-through was down 10% year over year, while sell-in was up 7% year over year [28] Company Strategy and Development Direction - The company plans to continue making strategic investments in product innovation to return to growth and diversify its supply chain, including exploring domestic production [6][10] - GoPro is focused on launching new products while preserving cash to repay debt and drive growth in 2025 and 2026 [24][23] - The company aims to introduce the Max 2 360 camera in 2025 and expects to end 2025 with 2.4 million subscribers [22][23] Management's Comments on Operating Environment and Future Outlook - Management noted that the operating model is becoming leaner and more efficient, positively impacting financial results [11] - The company expects revenue for Q2 2025 to be $145 million, down 22% year over year, with unit sell-through expected to decrease by 20% [21] - Management highlighted that the macro environment, competition, and delays in new product launches are expected to impact units and revenue in 2025 [22] Other Important Information - The company reported a strong aggregate retention rate for subscriptions at 70%, up from 69% both sequentially and year over year [8] - GoPro is actively managing its balance sheet and expects to reduce inventory sequentially by $20 million [20] Q&A Session Summary Question: Can you help us understand the sources of stronger sell-through in the quarter? - Management indicated that there was no pull-forward demand; sales were linear throughout the quarter [27] Question: What happened with the sell-through in the U.S. and Asia? - Management noted that Asia was down 54% due to macroeconomic issues and competition, particularly in China, Japan, and South Korea [30] Question: Can you elaborate on the tariff situation? - Management confirmed that the tariff impact on cameras entering the U.S. is zero due to diversified production outside of China [35] Question: What are the dynamics in Asia currently? - Management highlighted that competition and macroeconomic issues are affecting sales in Asia, with a nationalistic trend to buy local impacting performance [39]

Financial Data and Key Metrics Changes - First quarter revenue was $134 million, at the high end of guidance of $125 million, driven by stronger sell-through [12] - Non-GAAP operating expenses decreased by 26% year over year to $62 million from $83 million [13][16] - Reported gross margin was 32.3%, with an adjusted gross margin of 35.5% excluding a one-time sale [15][16] - Non-GAAP loss per share was $0.12, while GAAP loss per share was $0.30 [14] - Adjusted EBITDA loss was reduced by nearly 50% year over year to negative $16 million [14] Business Line Data and Key Metrics Changes - Revenue from the retail channel was $94 million, accounting for 70% of Q1 2025 revenue, up from 68% in Q1 2024 [13] - Revenue from GoPro's website, including subscription and service revenue, was $40 million, representing 30% of Q1 2025 revenue, down from 32% in Q1 2024 [13] - Subscription and service revenue grew 4% year over year to $27 million, with an average revenue per user (ARPU) growth of 5% [14] Market Data and Key Metrics Changes - Sell-through was approximately 440,000 units, down from 530,000 units in the prior year period, primarily due to macroeconomic issues and competition in Asia Pacific [15] - In Asia, revenue was down 54%, significantly impacted by competition and macroeconomic factors in China, Japan, and South Korea [29][38] - The U.S. sell-through was down 10% year over year, while sell-in was up 7% year over year [27] Company Strategy and Development Direction - The company aims to continue strategic investments in product innovation to return to growth and diversify its supply chain, including exploring domestic production [6][8] - GoPro plans to launch tech-enabled motorcycle helmets in partnership with AGV, targeting a significant market opportunity [10] - The company is focused on launching new products while preserving cash to repay debt and drive growth and profitability [23] Management's Comments on Operating Environment and Future Outlook - Management expects revenue and unit sales in 2025 to be lower than in 2024 due to an uncertain macro environment and competition [20] - The company anticipates a return to camera unit growth in 2026, alongside subscriber and revenue growth [8] - Management highlighted the importance of protecting intellectual property and is prepared to litigate if necessary [8] Other Important Information - The company ended Q1 2025 with $70 million in cash and marketable securities, including a $25 million draw on its asset-based loan [16] - Inventory decreased by 27% year over year to $96 million, marking the first sequential decline in inventory since 2018 [14] Q&A Session Summary Question: Sources of stronger sell-through in the quarter - Management indicated that there was no pull-forward demand; sales were linear throughout the quarter [26] Question: Sell-through dynamics in the U.S. and Asia - Management noted that Asia's decline was primarily due to macroeconomic issues and competition, particularly in China, Japan, and South Korea [29][38] Question: Tariff situation and inventory sourcing - Management confirmed that the tariff impact on cameras entering the U.S. is zero due to diversified production outside of China [34] Question: Dynamics in Asia and competition - Management highlighted that nationalistic trends and increased competition in China have impacted sales, while the U.S. market showed improvement [38] Question: Plans for stock price changes - Management expressed confidence that continued performance improvements would positively impact stock price without the need for a reverse stock split [41]

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].

Revenue of $134 million, at High-end of GuidanceSubscription and Service Revenue Up 4% Year-over-Year to $27 million SAN MATEO, Calif., May 12, 2025 /PRNewswire/ -- GoPro, Inc. (NASDAQ: GPRO) announced financial results for its first quarter ended March 31, 2025, and posted management commentary, including forward-looking guidance, in the investor relations section of its website at https://investor.gopro.com."Our Q1 results reflect our commitment to reducing operating expenses, down 26% year-over-year, imp ...

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]