GoPro's Q4 2024 Earnings: A Mixed Bag of Opportunities and Challenges

GoPro, Inc. (NASDAQ: GPRO) recently announced its fourth quarter and full-year 2024 results, providing investors with a mixed bag of opportunities and challenges. While the company's revenue and subscriber count grew, its net loss and operating expenses increased, highlighting the need for strategic adjustments to drive long-term growth.



GoPro's Q4 2024 revenue was $200,882, down 32% year-over-year, while its full-year 2024 revenue was $801,473, down 20% year-over-year. The company's subscription and service revenue increased 9% year-over-year to $27 million in Q4 2024 and 10% year-over-year to $107 million for the full year. However, GoPro's GAAP net loss for Q4 2024 was $37 million, or a $(0.24) loss per share, compared to a net loss of $2 million, or $(0.02) loss per share, in the prior year period.



GoPro's CEO, Nicholas Woodman, stated that the company undertook several initiatives in 2024 to return to growth and profitability in 2026. These initiatives include reducing operating expenses for 2025 by nearly 30% and refining the company's roadmap to pursue improved product diversification and more efficient product design. The company's CFO and COO, Brian McGee, added that GoPro's continued focus on streamlining its business has yielded reduced product costs and improved operational efficiencies, as well as continued diversification of its supply chain outside of China.

In conclusion, GoPro's Q4 2024 earnings call presented a mixed bag of opportunities and challenges for the company. While the company's revenue and subscriber count grew, its net loss and operating expenses increased, highlighting the need for strategic adjustments to drive long-term growth. GoPro's focus on improving product diversification, design efficiency, and supply chain diversification, along with its plans to reduce operating expenses, positions the company to improve its gross margin and return to growth and profitability in 2026. Investors should closely monitor GoPro's progress in executing these initiatives and the market's response to its future product offerings.