GoPro 10-K: Revenue $651.5M, EPS (loss) $(0.59) — FY2025 results
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GoPro reported FY2025 revenue of $651.5 million and a basic and diluted net loss per share of $(0.59), reflecting softer consumer demand and fewer camera units shipped. The company narrowed its net loss to $(93.5) million from $(432.3) million in FY2024, while operating losses persisted amid restructuring and a goodwill impairment. Revenue declines and margin pressure prompted cost reduction and R&D prioritization ahead of a product rollout planned for 2Q26.
Financial Highlights
- Total revenue: $651.5 million, down 19% year-over-year (FY2025 vs FY2024).
- Revenue by category: Hardware $545.3 million; Subscription and services $106.3 million.
- Gross profit: $219.2 million; gross margin 33.6% (FY2025), down 20 basis points versus FY2024.
- Operating loss: $(83.3) million; operating expenses totaled $302.5 million (46% of revenue), including an $18.6 million goodwill impairment.
- Net loss: $(93.5) million (improved versus $(432.3) million in FY2024, which included a $294.9 million deferred tax valuation allowance).
- Basic and diluted net loss per share: $(0.59) in FY2025, versus $(2.82) in FY2024.
Business Highlights
- Revenue trend and demand: FY2025 revenue declined 19% driven by approximately 25% fewer camera units shipped and softer consumer demand.
- Sales channels: Retail remained the primary channel (74% of revenue) while sales through GoPro.com grew to 26% of revenue.
- Subscription performance: Subscription attach rose to 43% in Q4 2025; annual retention remained around 68%. AI training opt-in for subscribers was launched in 2025.
- Product launches: Introduced the MAX2 (8K 360) and LIT HERO in 2025; continued support of HERO13 Black variants and modular accessories to reinforce premium positioning.
- Operational actions & outlook: Implemented cost reductions and prioritized R&D for a GP3 product rollout targeted for 2Q26, with tightened inventory and production discipline to help restore profitability.
Original SEC Filing: GoPro, Inc. [ GPRO ] - 10-K - Mar. 12, 2026
This is an AI-powered summary. It may contain inaccuracies. Consider verifying important information with the source. Please note this summary is solely based on documents filed with the SEC.