GoPro Q3 revenue $294M (-4% YoY); GAAP net loss $4M vs year-ago profit

GoPro, Inc.

2023-Q3 EPS reported -$0.33 revenue$710,039,000

GAAP net loss of $4M (-$0.02 EPS); non-GAAP net income of $6M ($0.04 EPS) vs $32M ($0.19) a year ago.
Revenue $294M, down 4% YoY but 5% above midpoint of guidance; gross margin fell to 32.0% from 38.0%.
Subscribers rose 20% YoY to 2.5M; subscription & service revenue grew 16% to $25M.
Adjusted EBITDA of $7M plummeted from $35M in prior-year quarter; GoPro bought back $10M in stock in Q3.
Entry-level cameras surged to 19% of camera revenue; camera ASP fell 17% to $319.

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 0.95

GoPro, Inc. reported third quarter ended September 30, 2023 results: revenue $294 million, net income GAAP net loss was $4 million, or negative $0.02 per share, EPS negative $0.02 per share.

Period: third quarter ended September 30, 2023
Revenue: $294 million
Net income: GAAP net loss was $4 million, or negative $0.02 per share
EPS: negative $0.02 per share
Result: reported results

Exact text from the filing

Act”), except as may be expressly set forth by specific reference in such filing or document. --- EX-99.1 (EX-99.1) --- GoPro Announces Third Quarter 2023 Results Revenue of $294 million, 5% Above Mid-Point of Guidance GoPro Subscribers Grew 20% Year-over-Year to 2.5 million Subscription and Service Revenue was $25 million or 9% of Revenue, up 16% Year-over-Year

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Source: SEC EDGAR

accession 0001500435-23-000077

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