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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.
GoPro (NASDAQ: GPRO) announced a new distribution partnership with SoftBank Group's SB C&S in Japan. This agreement will enable SB C&S to sell GoPro cameras and accessories through its extensive retail network, which includes SoftBank stores and major consumer electronics retailers Yodobashi and Yamada. Customers in Japan will have improved access to GoPro's full range of products. Dean Jahnke, GoPro's Senior VP of Global Sales and Channel Marketing, highlighted the expansion of GoPro's retail presence and brand exposure in Japan. The partnership also includes new product displays and training for retailers to enhance the shopping experience for end customers.
GoPro (NASDAQ: GPRO) has been recognized in U.S. News & World Report's 2024-2025 Best Companies to Work For rankings. This is the second consecutive year GoPro has received this honor. The company was featured in three categories: overall Best Companies, Best Companies in the West, and Best in Consumer Products and Services. CEO Nicholas Woodman expressed gratitude towards employees for choosing GoPro and emphasized the company's commitment to helping employees thrive.
GoPro's flexible-location workplace approach has been praised, earning the company spots on Outside Magazine's 50 Best Places to Work list from 2021 to 2023, and the 2023 Mental Health Program of the Year by Transform.us. The rankings were based on companies from the Russell 3000 index with over 75 Glassdoor reviews between 2020-2023. Factors such as pay quality, work-life balance, and professional development opportunities were considered. Visit jobs.gopro.com for more on GoPro's employee experience and career opportunities.
GoPro (NASDAQ: GPRO) has surpassed 50 million cameras sold since launching its HD HERO camera in 2009. The company celebrated this milestone, highlighting its journey of innovation, including the launch of 20 cameras that sold over one million units each. Founder and CEO Nicholas Woodman expressed enthusiasm for the next phase of growth. GoPro's pioneering technology has earned multiple Technical Emmy and Red Dot Design awards, and an induction into IEEE Spectrum's Consumer Electronics Hall of Fame. The company originally began with a 35mm film-based HERO camera in 2004, but sales of pre-2009 models are not included in the 50 million count.
GoPro, Inc. announced a retail expansion at Best Buy stores across North America, enhancing the in-store experience with redesigned product displays, an assisted sales program, and increased accessory space. The goal is to provide customers with a complete GoPro experience and expert advice from trained Best Buy staff.
GoPro, Inc. (NASDAQ: GPRO) reported first quarter financial results exceeding expectations, with revenue reaching $155 million, 7% above guidance. The company's subscriber base grew by 6% year-over-year to 2.5 million, while subscription and service revenue increased by 12% to $26 million.
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