GoPro(US:GPRO) Prnewswireยท2025-05-12 20:05Core 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]