Core Viewpoint - GoPro, Inc. reported a narrower non-GAAP loss per share of 12 cents for Q1 2025, which was better than the consensus estimate of a 13-cent loss, indicating a focus on operational efficiency and long-term growth despite a decline in revenues [1][4]. Financial Performance - Revenues for Q1 2025 were $134.3 million, down 13.6% year over year, primarily due to lower accessory sales and increased price promotions, although subscription and service revenues partially offset this decline [2][3]. - The company sold 440,000 camera units in Q1 2025, an 18% decrease from the previous year [5]. - Subscription revenues increased by 4% year over year to $27 million, driven by improved retention rates, with aggregate retention rates reaching 70% [6]. - Non-GAAP gross margin was 32.3%, down from 34.4% in the prior year, while non-GAAP operating loss was $18.7 million, an improvement from a loss of $29.9 million a year ago [8][10]. Operational Efficiency - Operating expenses decreased to $62 million from $83.3 million in the prior year, reflecting the company's strategic focus on cost management [8][13]. - Management expressed confidence that upcoming product launches in late 2025 and 2026 will support a return to revenue and profitability growth [4]. Market Dynamics - The retail channel generated $94 million in revenues, a 12% decline year over year, while revenues from GoPro.com fell 18% to $40 million [7]. - Regionally, revenues from the Americas increased by 7%, while Europe, the Middle East, and Africa saw a 23% decline, and Asia Pacific revenues dropped by 54% [7]. Future Guidance - For Q2 2025, GoPro estimates revenues of $145 million and a non-GAAP adjusted loss of 7 cents per share, with a gross margin forecast of 35.5% [12]. - The company anticipates lower unit sales and revenues for 2025 compared to 2024 due to macroeconomic uncertainties and increased competition, but expects some offset from favorable foreign exchange effects [14][15].