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. reported strong financial results for Q3 2021, with revenue of $317 million, up 13% year-over-year. The company achieved a GAAP net income of $312 million or $1.92 per share, significantly higher than the previous year’s $3 million. Gross margins improved to 43.6%, the highest since 2015. The launch of the new HERO10 Black camera and a robust subscription strategy also contributed to these results. Free cash flow from operations reached $166 million, equating to 15% of revenue.
GoPro (NASDAQ: GPRO) announced a game-changing Enduro battery for its HERO10 and HERO9 Black cameras, which enhances cold temperature performance and extends video recording times in various conditions. Available for purchase on November 30 for $24.99, the Enduro battery allows up to 115 minutes of 1080p30 recording at 14°F / -10°C. Alongside this, a firmware update for the HERO10 Black will introduce three new video performance modes, enabling optimized recording times and camera efficiency.
GoPro, Inc. (NASDAQ: GPRO) will release its financial results for Q3 2021, ending September 30, after market close on November 4, 2021. A conference call and webcast will follow at 2:00 p.m. PT (5:00 p.m. ET) to discuss these results. Interested parties can access the webcast via the Investor Relations section of GoPro's website. A replay will be available shortly after the call until January 27, 2022.
GoPro, Inc. (NASDAQ: GPRO) announced the appointment of Shaz Kahng to its Board of Directors, effective October 11, 2021. Kahng brings extensive experience from leadership roles at Nike and as CEO at Lucy Activewear. Her entrepreneurial instincts and strategic insight are expected to benefit GoPro's growth. GoPro's founder, Nicholas Woodman, expressed enthusiasm about her contributions to the company.
Kahng holds an MBA from Wharton and a degree from Cornell University, also serving as a council member there.
GoPro has unveiled its latest flagship product, the HERO10 Black, featuring the innovative GP2 processor that enhances image quality and video speeds. The camera captures 5.3K video at 60FPS, delivering 91% more resolution than 4K. It offers advanced features like HyperSmooth 4.0 stabilization and improved low-light performance. The HERO10 Black is priced at $399.98 with a subscription, or $499.99 without. Additionally, GoPro subscribers can access exclusive bundles and savings. A $1 million challenge invites users to submit videos for a chance to win.
GoPro, Inc. (NASDAQ: GPRO) announced that its US patent portfolio has surpassed 1,000 granted patents, totaling over 1,600 globally. This milestone reflects the company's commitment to innovation since its founding in 2002. CEO Nicholas Woodman emphasized the importance of unique solutions in enhancing user experiences. GoPro's patent portfolio has received recognition, ranking 24th overall and 27th in high-tech by Patexia's 2021 report. Additionally, IEEE Spectrum ranked GoPro 4th in the electronics category for valuable patent portfolios in 2017.
GoPro, Inc. (NASDAQ: GPRO) announced its participation in the Citi 2021 Global Technology Virtual Conference on September 14, 2021, at 3:30 PM Eastern Time. The event will be webcast live and available for replay on the company's website. GoPro is known for helping users capture and share immersive experiences. For more details, visit investor.gopro.com.
Amazon and GoPro have filed a lawsuit against nine defendants for counterfeiting GoPro's camera accessories, such as 'The Handler' and '3-Way' grip. Filed in the U.S. District Court for Western Washington, the suit claims defendants misused GoPro's trademarks to mislead customers. Amazon proactively closed the defendants' accounts and refunded affected customers. The Counterfeit Crimes Unit, established by Amazon in 2020, plays a key role in combating counterfeit products, having invested over $700 million that year to protect its platform.
GoPro, Inc. (NASDAQ: GPRO) has announced its participation in two upcoming investor conferences. The first is the Oppenheimer Virtual Technology, Internet & Communications Conference on August 10, 2021, at 1:15 pm ET. The second is the BMO 2021 Technology Summit on August 25, 2021, at 2:00 pm ET. Live webcasts of these events will be accessible for replay on GoPro's investor website.
GoPro specializes in helping individuals capture and share their experiences in unique ways.
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