GoPro, Inc (GPRO) reported a second-quarter 2024 non-GAAP loss of 24 cents per share, narrower than the Zacks Consensus Estimate of a loss of 25 cents. The company incurred a loss of 5 cents per share in the year-ago quarter.GPRO generated revenues of $186 million, down 23% year over year. The figure exceeded the company’s guidance of $170 million (+/- $5 million). The top line beat the consensus mark by 9.2%.Higher demand for the HERO12 Black camera in Europe and North America cushioned the top-line perfor ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $186 million, exceeding guidance by 9% and driven by increased demand for the HERO12 Black camera in Europe and North America [7][13] - Gross margin decreased to 30.7% from 31.6% in Q2 2023 [13] - Non-GAAP EPS loss was $0.24, while GAAP loss per share was $0.31 [8][14] - Subscription and service revenue grew 8% year-over-year to $26 million, with a subscriber base of 2.53 million, reflecting a 4% growth [8][14] Business Line Data and Key Metrics Changes - Retail revenue was $137 million, accounting for 74% of total revenue, down 17% year-over-year [14] - GoPro.com product revenue was $23 million, representing 12% of total revenue [14] - Sell-through units were slightly above 600,000, down 9% year-over-year, with channel inventory decreasing to approximately 700,000 units [14][15] Market Data and Key Metrics Changes - The company added approximately 800 new retail doors globally, with significant growth in EMEA and Latin America [8] - The digital imaging market is experiencing growth, particularly in the 360-degree camera segment, which is expected to recover significant market share in 2025 [9][16] Company Strategy and Development Direction - The company aims to achieve profitability in 2025 through new product launches and reduced operating expenses, targeting a reduction of nearly $50 million from 2024 levels [9][17] - Expansion into tech-enabled motorcycle helmets and a broader product portfolio are part of the strategy to grow the business and restore long-term profitability [10][36] - Upcoming product launches include the HERO13 Black and a new $199 entry-level HERO camera, which are expected to enhance margins and market appeal [11][43] Management's Comments on Operating Environment and Future Outlook - Management acknowledged 2024 as a challenging year due to lower consumer confidence, increased competition, and executional challenges [9][15] - The company is confident in regaining market share in the 360-degree camera category and believes that new product introductions will drive growth in 2025 [22][42] - Management emphasized the importance of operating GoPro as a profitable business, with a commitment to reducing operating expenses and improving gross margins [12][19] Other Important Information - The company is facing a cumulative impact of delayed product launches, which is expected to affect sales by approximately $100 million in 2024 [15] - The anticipated launch of the new 360-degree camera in 2025 is expected to significantly contribute to revenue growth [16][42] Q&A Session Summary Question: What was driving the delays in product launches? - Delays were attributed to the company's commitment to innovation and ensuring product quality, with confidence in upcoming launches [20][21] Question: Are there concerns about losing market share in the 360-degree camera segment? - Management acknowledged potential market share loss but expressed confidence in regaining it with new product launches in 2025 [26][28] Question: Can you elaborate on cost cuts and sources of savings for 2025? - Operating expenses are expected to be reduced by $50 million, with significant savings from non-recurring engineering development expenses [30][31] Question: Who are the core camera users and potential new users? - Core users include content creators and active consumers, with opportunities to diversify the product roadmap to attract new markets [33][36] Question: What are the expectations for growth in 2025? - The company anticipates growth driven by new product launches and improved margins, with a focus on profitability [41][46]

GoPro (GPRO) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $0.25. This compares to loss of $0.07 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4%. A quarter ago, it was expected that this action video camera maker would post a loss of $0.24 per share when it actually produced a loss of $0.21, delivering a surprise of 12.50%.Over the last four quarters, the company has surp ...

| --- | --- | --- | --- | --- | |-------|-------|-------|-----------------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Q2 2024 Preliminary Earnings Results Summary | | | | | | August 6, 2024 | | Copyright © 2024. 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 "anticipa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 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 ot ...

Revenue Performance - Revenue for Q2 2024 was $186 million, down 23% year-over-year[2] - Revenue from the retail channel was $137 million, or 74% of total revenue, down 17% year-over-year[2] - Revenue for Q2 2024 was $186,224 thousand, a decrease of 22.7% compared to $241,020 thousand in Q2 2023[14] Profit and Loss - GAAP net loss was $48 million, or a $0.31 loss per share, compared to a net loss of $17 million or $0.11 loss per share in the prior year period[3] - Non-GAAP net loss was $36 million, or a $0.24 loss per share, compared to a non-GAAP net loss of $8 million, or $0.05 loss per share, in the prior year period[3] - Net loss for Q2 2024 was $(47,821) thousand, compared to $(17,212) thousand in Q2 2023[17] - Basic and diluted net loss per share for Q2 2024 was $(0.31), compared to $(0.11) in Q2 2023[14] - GAAP net loss for Q2 2024 was $47,821 thousand, compared to a loss of $17,212 thousand in Q2 2023, representing a 178% increase in losses year-over-year[21] - Non-GAAP net loss for Q2 2024 was $36,179 thousand, compared to a loss of $7,928 thousand in Q2 2023, indicating a 356% increase in losses year-over-year[21] Margins and Expenses - GAAP gross margin was 30.5%, down from 31.4% in the prior year period[3] - Non-GAAP gross margin as a percentage of revenue for Q2 2024 was 30.7%, down from 31.6% in Q2 2023[22] - Total operating expenses for Q2 2024 were $103,219 thousand, an increase from $98,266 thousand in Q2 2023, reflecting a 3.9% rise[22] - Adjusted EBITDA was negative $33 million, compared to negative $10 million in the prior year period[3] - Adjusted EBITDA for Q2 2024 was $(33,426) thousand, compared to $(10,290) thousand in Q2 2023, indicating a significant decline in performance[23] - Stock-based compensation for Q2 2024 totaled $7,791 thousand, down from $11,117 thousand in Q2 2023, a decrease of 30.9%[22] - Total restructuring and other costs for Q2 2024 were $2,736 thousand, compared to a benefit of $(715) thousand in Q2 2023, reflecting a significant increase in costs[23] Assets and Liabilities - Total current assets decreased to $351,427 thousand as of June 30, 2024, from $482,591 thousand at the end of 2023[15] - Cash and cash equivalents dropped to $133,036 thousand as of June 30, 2024, down from $222,708 thousand at the end of 2023[15] - Total liabilities decreased to $372,075 thousand as of June 30, 2024, from $412,105 thousand at the end of 2023[15] Growth and Future Plans - GoPro's subscriber base grew 4% year-over-year to 2.53 million, with subscription and service revenue increasing 8% year-over-year to $26 million[2] - GoPro plans to launch two new products in September, including the HERO13 Black and a new entry-level HERO camera priced at $199[1] - GoPro announced a partnership with SoftBank Group's SB C&S Corporation for additional distribution in Japan[4] - The company celebrated surpassing 50 million cameras sold since the launch of the original HD HERO camera in 2009[5] Research and Development - Research and development expenses rose to $46,932 thousand in Q2 2024, up 11.4% from $41,903 thousand in Q2 2023[14]

 Revenue of $186 million was 9% Above GuidanceGoPro Subscribers Grew 4% Year-over-Year to 2.53 million Subscription and Service Revenue was $26 million, up 8% Year-over-Year SAN MATEO, Calif., Aug. 6, 2024 /PRNewswire/ -- GoPro, Inc. (NASDAQ: GPRO) announced financial results for its second quarter ended June 30, 2024, and posted management commentary, including forward-looking guidance, in the investor relations section of its website at https://investor.gopro.com."In Q2, revenue of $186 million exceeded g ...

GoodLifeStudio/E+ via Getty Images Here's one fact most of us can agree on: smartphone cameras have become incredibly good. That has become the bane of many specialty camera makers, including and especially GoPro (NASDAQ:GPRO). The action camera maker has been experimenting heavily with making higher-end camera models and pushing subscription services, but despite these efforts, it's unable to combat the sheer utility of everyday smartphone cameras and convince the mass market that a specialized action ...

The news is encouraging, but it might not sufficiently move the needle for the company.Its durable cameras might be popular with folks taking action footage, but GoPro (GPRO 0.64%) hasn't been a great success as a stock. After a sustained period of excitement following its 2014 IPO, investors have largely shunned the company.Might that change with a recent deal? The stock has been showing a few signs of life since management announced news of a distribution arrangement with one of the top conglomerates in t ...

Twisters arrives in U.S. theaters July 19SAN MATEO, Calif., July 17, 2024 /PRNewswire/ -- GoPro, Inc. (NASDAQ: GPRO) takes viewers inside the action for Universal Pictures, Warner Bros. Pictures, and Amblin Entertainment's new film, Twisters, arriving in U.S. theaters July 19. Able to withstand extreme weather conditions, GoPro's versatile cameras played a pivotal role in capturing the adrenaline-pumping action of the epic summer thrill ride that puts audiences in direct contact with one of nature's most wo ...