GoPro Q1 2023: Revenue $175M (-19% YoY), GAAP EPS -$0.19, subs up 36%

GoPro, Inc.

2023-Q1 EPS reported -$0.19 revenue$174,720,000

Revenue $175M, 6% above guidance midpoint, but down 19% YoY from $217M.
GAAP net loss $30M (-$0.19 diluted EPS) vs net income $6M ($0.04) YoY.
Subscribers 2.36M (+36% YoY); subscription & service revenue $23M (+24% YoY).
GAAP gross margin 30.0% (down from 41.8% YoY) due to $24M price protection charges.
Implementing pre-pandemic pricing to drive growth; $5M stock buyback in Q1.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

GoPro, Inc. reported first quarter ended March 31, 2023 results: revenue $175 million, net income $30 million, EPS negative $0.19 per share.

Period: first quarter ended March 31, 2023
Revenue: $175 million
Net income: $30 million
EPS: negative $0.19 per share
Result: reported results

Exact text from the filing

Q1 2023 Financial Results • Revenue was $175 million, down 19% year-over-year and ahead of the midpoint of our prior Q1 guidance. • GoPro subscriber count ended Q1 at approximately 2.36 million, up 36% year-over-year. • GoPro.com revenue, including subscription and service revenue, was up 7% year-over-year at $95 million, or 54% of total revenue. Revenue from the retail channel was $80 million, down 38% year-over-year. • Subscription and service revenue increased 24% year-over-year to $23 million. • Attach rate via our app from cameras purchased at retail was approximately 50% in the quarter, up from 39% a year ago, a 23% improvement. • GAAP net loss was $30 million, or negative $0.19 per share, down from net income of $6 million or $0.04 per share in the prior year period.

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Source: SEC EDGAR

accession 0001500435-23-000047

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