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. announced its 2022 financial results, reporting a total revenue of $1.09 billion, down 6% year-over-year. The company achieved a GAAP EPS of $0.18 and a non-GAAP EPS of $0.47. Direct-to-Consumer revenue grew 5% to $411 million, while subscription and service revenue surged 52% to $82 million. GoPro increased its subscriber base by 43% year-over-year, reaching 2.25 million. However, Q4 revenue was $321 million, down 18% year-over-year. The company reported a GAAP net income of $3 million, a significant drop from $52 million in Q4 2021.
GoPro (NASDAQ: GPRO) has launched its fifth annual Million Dollar Challenge, inviting users of the HERO11 Black and HERO11 Black Mini cameras to submit unique video footage. Participants have a chance to be featured in a highlight reel and share in a total prize pool of $1 million. Submissions via the GoPro Quik App are now open and will close on April 2, 2023. A live Q&A session with GoPro editors is scheduled for February 9, 2023 to provide tips for optimal submissions. The highlight reel premiere will occur later in April, revealing the selected entries and cash award recipients.
GoPro, Inc. (NASDAQ: GPRO) will announce its financial results for the fourth quarter and the full year ended December 31, 2022, after market close on February 2, 2023. A conference call is scheduled for 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these results. Investors can access the webcast and management commentary on GoPro's Investor Relations website. Following the call, a replay will be available until April 27, 2023.
GoPro has partnered with Roundtable Entertainment and Cinedigm to launch the GoPro Channel in Spring 2023. This new channel will showcase an extensive library of sports and lifestyle content, featuring original programming and user-generated content. With over 3 billion views and 10 million YouTube subscribers, GoPro is set to enhance its reach through this FAST channel across various platforms. The collaboration aims to provide viewers with captivating sports and adventure programming while creating new advertising opportunities for brands.
GoPro, Inc. (NASDAQ: GPRO) announced that CFO Brian McGee will present at the Nasdaq 47th Investor Conference in London on December 7, 2022, at 6:00 am ET / 11:00 am GMT. The live event will be webcast and available for replay on GoPro's investor website. Established in 2002, GoPro continues to innovate in capturing and sharing immersive content. The company celebrates its 20th anniversary in 2022, highlighting its commitment to creative solutions for consumers.
GoPro, Inc. (NASDAQ: GPRO) has been recognized by Outside Magazine as one of the 50 Best Places to Work for the second consecutive year, marking its unique position as the only company with over 200 employees on the list. This accolade highlights GoPro's commitment to employee wellness, promoting a remote-first and hybrid work environment. Key benefits contributing to this recognition include an unlimited time-off policy and expanded family-forming support. GoPro's dedication to diversity, equity, inclusion, and belonging also played a significant role in this achievement.
GoPro has launched the HERO11 Black Mini, a compact and lightweight camera designed for athletes and innovators. Available now on GoPro.com, it features a new 8:7 sensor, 5.3K video capability, and HyperSmooth 5.0 technology for steady footage. The HERO11 Black Mini retails at $299.98 for subscribers and $399.99 MSRP, with broader retail availability on the way. GoPro also introduced new lifestyle gear, including floating sunglasses and a high-performance Enduro battery.
GoPro reported a strong Q3 2022, with revenue of $305 million, exceeding consensus by 3%. The company achieved a 55% increase in subscribers year-over-year, reaching 2.1 million. GAAP EPS was $0.10, while non-GAAP EPS stood at $0.19. Subscription revenue surged 48% to $21 million, driving expectations for over $100 million in annual recurring revenue. However, gross margins declined significantly, with GAAP at 38.0% compared to 43.6% last year. Cash net of debt rose to $205 million, nearly doubling from the prior year.
GoPro, Inc. (NASDAQ: GPRO) has postponed the release of the HERO11 Black Mini, now set for November 18, 2022, with pre-orders available on GoPro.com. This delay, originally scheduled for October 25, allows the company to refine the product further. CEO Nicholas Woodman expressed enthusiasm for the Mini's capabilities. Meanwhile, the HERO11 Black and HERO11 Black Creator Edition remain available for purchase globally.
GoPro, Inc. (NASDAQ: GPRO) will announce its financial results for Q3 2022 after market close on November 3, 2022. A conference call and live webcast will follow at 2:00 p.m. PT to discuss the results. Investors can access the webcast link and management commentary on the investor relations section of GoPro's website. A replay will be available from approximately two hours after the call until February 1, 2023. GoPro, celebrating its 20th anniversary, focuses on helping users capture and share immersive experiences.
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