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 (NASDAQ: GPRO) has launched its fifth Million Dollar Challenge, receiving a record 42,446 video submissions from 126 countries—marking a 66% year-over-year increase. The contest exclusively featured clips from GoPro's latest HERO11 Black and HERO11 Black Mini cameras. A total of 55 creators from 21 countries were awarded $1 million, each receiving $18,181.81 for their winning submissions, highlighting the creativity of GoPro users. Over the past five years, GoPro has awarded $5 million to contest participants. The submission window ran from January 26 to April 2, culminating in a premiere announcement on April 26.
GoPro, Inc. (NASDAQ: GPRO) will announce its financial results for the first quarter ending March 31, 2023, on May 9, 2023, after market close. A conference call and live webcast will follow at 2:00 PM PT (5:00 PM ET) to discuss these results. Investors can access the webcast on GoPro's Investor Relations website. A replay will be available for an extended period until August 1, 2023. GoPro, founded in 2002, specializes in innovative technology that allows users to capture and share immersive experiences. For updates and further information, visit the company's website.
GoPro, Inc. (NASDAQ: GPRO) announced that CFO Brian McGee will present at the Morgan Stanley Technology, Media & Telecom Conference on March 7, 2023, at 9:10 am PT, located at the Palace Hotel, San Francisco, CA. A live webcast of the presentation will be available on GoPro's Events & Presentations section of their website for replay.
Founded in 2002, GoPro empowers users to capture and share immersive experiences. For more details, visit GoPro Investor Relations.
GoPro, Inc. (NASDAQ: GPRO) has authorized an additional $40 million for repurchasing its Class A common stock. This follows a previous authorization of $100 million in 2022, out of which $40 million was repurchased. As of February 9, 2023, there remains $100 million available for repurchase, with $5 million repurchased in 2023. CFO Brian McGee emphasized the company's focus on sound cash management, leading to profitability and EBITDA growth, enabling capital return to shareholders. The repurchase program will be funded through operational cash and has no set expiration date.
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