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Mar 31, 2020
GoPro Q1 2020 Earnings Report
Revenue decreased year-over-year, but direct-to-consumer transition and expense management efforts are underway.
Key Takeaways
GoPro's Q1 2020 revenue was $119 million, a decrease from $243 million in the same period last year. The company is transitioning to a more efficient direct-to-consumer business model and managing operating expenses.
Revenue for Q1 2020 was $119 million, down from $243 million year-over-year.
GAAP net loss for Q1 2020 was $64 million, or $0.43 per share.
GoPro.com represented a record 17% of revenue in Q1 2020, up from 11% in Q1 2019.
GoPro’s Plus subscription service ended Q1 2020 with 355,000 paid subscribers, up 69% year-over-year.
GoPro
GoPro
Forward Guidance
GoPro expects the shift to a more consumer-direct model allows them to succeed both during the pandemic and in the long-term.