Welcome to our dedicated page for GoPro news (Ticker: GPRO), a resource for investors and traders seeking the latest updates and insights on GoPro stock.
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.
GoPro, Inc. (NASDAQ: GPRO) announced its financial results for Q3 2020 will be revealed on November 5, 2020, after market close. A conference call for analysts and investors is scheduled for the same day at 2 PM PT (5 PM ET) to discuss the results. The management commentary will be available on its Investor Relations site prior to the call. The webcast will be recorded and accessible afterward. For more details, visit GoPro's official website.
GoPro, Inc. (NASDAQ: GPRO) announced that demand for its HERO9 Black camera has boosted paid subscriber numbers past 500,000. The company expects to exceed its target of 600,000 to 700,000 subscribers by year-end. Sales on GoPro.com surged 230% compared to the same period in 2019, driven by strong demand for both the HERO9 Black and the GoPro subscription service. The subscription, available for $49.99 annually, provides various benefits including unlimited cloud storage. This shift toward direct-to-consumer sales is anticipated to enhance profitability.
GoPro, Inc. (NASDAQ:GPRO) has launched the HERO9 Black camera, featuring a new sensor for 5K video and 20MP photos. Enhanced features include next-gen HyperSmooth 3.0 stabilization, a larger display, and improved battery life (30% more than HERO8). Priced at $449.99, subscribers can get it for $349.98 with a one-year subscription. Additionally, the company has rebranded its subscription service to GoPro. Notably, the HERO9 packaging is now plastic-free and comes with a travel case. GoPro also introduced the Max Lens Mod, enhancing creative capabilities. The camera is available globally now.
GoPro has introduced a high-quality live streaming service for GoPro Plus subscribers, enabling them to stream from their GoPro cameras directly to GoPro.com. This service is compatible with HERO8 Black, HERO7 Black, and MAX cameras. Additionally, GoPro released new firmware for HERO8 Black, enhancing video stability with HyperSmooth 2.0 and providing official webcam support for macOS, with Windows support in beta. The subscription to GoPro Plus is available for $4.99 monthly or $49.99 annually, offering benefits like unlimited cloud storage and camera replacement.
GoPro (NASDAQ: GPRO) will present at the Citi 2020 Virtual Global Technology Conference on September 9, 2020, at 6:05 pm Eastern Time. The presentation will be available for live webcast and replay on the company’s website.
This event highlights GoPro's commitment to sharing innovative content and engaging with its audience in exciting ways. For additional details, visit the GoPro website.
GoPro (NASDAQ: GPRO) will present at the BMO 2020 Virtual Technology Summit on August 25, 2020, at 3:30 PM ET (12:30 PM PT). The event will be webcast live, with replays available on GoPro's website under the 'Events & Presentations' section. Established to enhance immersive experiences, GoPro invites audience engagement in their offerings. Interested parties can access the live stream at investor.gopro.com.
GoPro reported Q2 2020 revenue of $134 million, a 12% increase from Q1 2020, but a significant decline of 54.1% year-over-year. The GAAP gross margin decreased to 30.3% compared to 34.9% in Q2 2019, resulting in a net loss of $51 million or $0.34 per share. Operating expenses fell to their lowest levels since 2014, totaling $86 million. Despite challenges, the direct-to-consumer model showed promise, with camera sell-through of nearly 750,000 and a record 44% of revenue from GoPro.com, highlighting consumer demand amidst the pandemic.
GoPro, Inc. (NASDAQ: GPRO) has launched a new line of lifestyle gear, available exclusively on GoPro.com. This range includes bags starting at $19.99, clothing from $24.99, and accessories like floating sunglasses at $29.99. GoPro's founder, Nicholas Woodman, emphasizes the brand's commitment to supporting active lifestyles. Additionally, GoPro PLUS subscribers can enjoy a 30% discount on these products. The company is also hosting a virtual charitable event called #GoProLiveIt from July 31 to August 2, donating $1 for each social media post tagged with the event's hashtag.
On July 9, 2020, GoPro announced that its HERO8 Black camera can now be used as a 1080p HD webcam through a beta firmware update and a desktop utility. This new feature allows users to enhance their video conferencing experience with wide-angle views. Currently, the GoPro Webcam desktop utility supports Mac OS, with Windows support under development. Compatible platforms include Zoom, Microsoft Teams, and more, making it simple for educators, fitness instructors, and other users to present wide perspectives during their sessions.
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