| --- | --- | --- | --- | --- | |-------|-------|-------|-----------------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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 ...

SAN MATEO, Calif., July 16, 2024 /PRNewswire/ -- GoPro, Inc. (NASDAQ: GPRO) today announced that it will release its financial results for the second quarter ended June 30, 2024, after the market closes on Tuesday, August 6, 2024. GoPro management will host a conference call and live webcast following the release at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the Company's financial results. A webcast link and management commentary will be posted on the "Events & Presentations" section of the ...

SAN MATEO, Calif., July 9, 2024 /PRNewswire/ -- Today, GoPro, Inc. (NASDAQ: GPRO) announced a new distribution partnership with SoftBank Group's SB C&S Corporation in Japan to sell GoPro products through one of the largest sales networks in the region. The deal enables SB C&S to provide its retail customers with the full range of GoPro cameras and accessories. Now, customers in Japan will have greater access to a wide selection of GoPro products, including the latest products and innovations. "Through SB C& ...

GoPro is trying to update its business model, but there could be a limited runway ahead if things don't start to improve soon.Share prices of GoPro (GPRO -7.43%) are down more than 60% over the past year. Investors are clearly not impressed with what's going on at the action-camera maker. The company has a plan to overhaul its business and the truth is that it may not succeed. Management could also run out of time to get it to work. The company's future is a bit blurry at the moment.Here's what you need to ...