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GoPro, Inc. (NASDAQ: GPRO), headquartered in San Mateo, California, is a leading manufacturer of action cameras, camera accessories, mounts, and drones. The company is globally recognized for revolutionizing the way people capture and share their lives. Founded to enable athletes to self-document their sports activities, GoPro has grown to serve a wide array of consumers, from extreme sport enthusiasts to everyday users.
GoPro's primary product line includes its flagship HERO series of action cameras, which are known for their durability and high-quality video capture. The company also offers an array of mounts and accessories to enhance the functionality of its cameras. In recent years, GoPro has expanded its product offerings to include the Quik app—a user-friendly video editing software designed to help users create professional-quality videos effortlessly.
In terms of manufacturing, GoPro outsources a significant portion of its production to third-party manufacturers in China. The company's sales strategy is diverse, with products available through direct sales channels, which account for more than half of the total revenue, as well as through a broad network of retail partners and distributors across the Americas, Europe, Middle East, Africa, and Asia-Pacific regions.
GoPro continues to innovate with new subscription tiers such as GoPro Premium and Premium+, providing users with advanced features like unlimited cloud storage, auto-editing tools, and enhanced video stabilization. The recent launch of the Quik desktop app for macOS, soon to be available on Windows, exemplifies GoPro's commitment to offering versatile and powerful content creation tools for both beginners and advanced users.
Financially, GoPro has demonstrated resilience and growth. The company's Q1 2024 results showed significant revenue increases and high subscriber retention rates. GoPro also engages in strategic repurchase of convertible notes and stocks to enhance shareholder value.
In addition to its core business, GoPro engages in various strategic partnerships and initiatives. For instance, the company launched the GoPro PADI Distinctive Specialty Course in collaboration with the Professional Association of Diving Instructors to train scuba divers in using GoPro cameras for capturing underwater adventures. Furthermore, the annual GoPro Mountain Games in Vail, Colorado, highlights GoPro's involvement in promoting outdoor sports and lifestyle.
GoPro's dynamic approach extends to its support for young athletes through initiatives like the Grom Quest Challenge, a video submission contest aimed at discovering and nurturing young talent in action sports. This reinforces the company's mission to empower people to capture and share their passions.
GoPro has been recognized as a top employer by Outside Magazine and US News & World Report, affirming its standing as an attractive workplace. For more information, visit GoPro.com and connect with GoPro on social media platforms including Facebook, Instagram, LinkedIn, TikTok, X (formerly Twitter), YouTube, and GoPro's blog, The Current.
On June 22, 2021, GoPro (NASDAQ: GPRO) launched 'Open GoPro,' an open API initiative to enhance integration of HERO9 Black features by third-party developers. The API provides access to wireless connectivity, camera control, status updates, media review, and more. No application process is required. Notable companies like Amazfit, Centurion Boats, and Sena are already leveraging this technology. The HERO9 firmware update v1.6 also includes improvements in power management and connectivity, enhancing user experience. For more information, visit GoPro.com/OpenGoPro.
GoPro, Inc. (NASDAQ: GPRO) has announced its participation in two upcoming virtual investor conferences. The first is on May 18, 2021, at 3:00 PM ET during the Needham Virtual Technology & Media Conference. The second conference is the J.P. Morgan Global Technology, Media and Communications Conference on May 24, 2021, at 4:15 PM ET. Live webcasts of these presentations will be available on GoPro's investor relations website for replay. For more details, visit investor.gopro.com.
GoPro, Inc. reported Q1 2021 financial results, revealing a 71% increase in revenue to $204 million compared to Q1 2020. The company shifted to a subscription-centric model, contributing to expanded gross margins of 38.6% GAAP, an increase of 640 basis points year-over-year. Despite a GAAP net loss of $10 million ($0.07 per share), non-GAAP net income was positive at $5 million ($0.03 per share). GoPro also surpassed one million subscribers in April 2021, and camera sales surged, with 95% of revenue from units priced above $300.
GoPro (GPRO) has expanded its lifestyle gear collection with several new products. The highlights include Mezcal floating sunglasses priced at $79.99, a 30L Weekender Backpack retailing at $129.99, and five new T-shirts featuring collaborations with artists, including a limited-edition benefiting Protect Our Winters (POW). GoPro Subscribers enjoy discounts of up to 50% on these items. The new gear aims to enhance the outdoor lifestyle experience and is now available at GoPro.com.
GoPro, Inc. (NASDAQ: GPRO) will announce its financial results for the first quarter that ended on March 31, 2021, on May 6, 2021, after market close. A conference call hosted by management will follow at 2 p.m. Pacific Time (5 p.m. Eastern Time) to discuss these results. The call will be accessible via a live webcast and will also be recorded for later access on the company's Investor Relations website. Investors can expect management commentary in the 'Events & Presentations' section prior to the call.
GoPro launched a new mobile app named Quik on March 16, 2021, which offers an easy way to organize and edit photos and videos. The app addresses the 'black hole' problem of camera rolls by allowing users to import and manage their favorite media efficiently. Key features include unlimited importing, cloud backup, automatic video creation, and powerful editing tools. Quik is available for both iOS and Android, with a subscription model starting at $1.99/month.
The launch aims to enhance user engagement and presents a long-term growth opportunity for GoPro.
GoPro, Inc. (NASDAQ: GPRO) has announced its participation in two virtual investor conferences. The first is the JMP Securities Technology Conference on March 1, 2021, at 2:30 pm ET, followed by the Morgan Stanley Technology, Media and Telecom Conference on March 2, 2021, at 5:00 pm ET. Live webcasts will be accessible for replay on GoPro's website. These events highlight GoPro's ongoing commitment to engage with investors and showcase its innovative products.
GoPro, Inc. (NASDAQ: GPRO) reported Q4 2020 revenue of $358 million, a 28% increase from Q3 2020. However, annual revenue declined 25% to $892 million compared to $1.19 billion in 2019. The company achieved a GAAP net income of $44 million in Q4 but faced a GAAP net loss of $67 million for the full year. Cash flow from operations exceeded $200 million in H2 2020, with a 52% increase in subscribers. The shift to a subscription model is yielding positive cash generation, with 761,000 subscribers by year-end.
GoPro, Inc. (NASDAQ: GPRO) will release its fourth quarter and full year 2020 financial results on February 4, 2021, after market close. A conference call for analysts and investors will follow on the same day at 2 p.m. PT. The management commentary will be available on their Investor Relations website prior to the call. A live webcast will also be accessible, with a recorded version available for 90 days post-call. This event highlights GoPro's commitment to transparency and investor engagement.
GoPro (GPRO) announced a new firmware update for its GoPro Labs program, enhancing features for HERO9 Black, HERO8 Black, HERO7 Black, and GoPro MAX cameras. The update includes innovative functionalities such as Camera Motion Triggers, USB Power Triggers, and upgraded Motion Detection. Users can also benefit from a Simplified Live Streaming QR Code and New Exposure Modes. The firmware aims to empower advanced users and enhance user experience. GoPro founder Nicholas Woodman will discuss these features in a live 12 PM PT interview on Engadget.
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