GoPro(US:GPRO)2025-05-12 20:06Revenue 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].