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Jun 30, 2025
GoPro Q2 2025 Earnings Report
GoPro announced financial results for its second quarter ended June 30, 2025, with improved gross margin and reduced operating expenses, though revenue and subscriber count saw declines.
Key Takeaways
GoPro reported a revenue of $153 million for Q2 2025, an 18% decrease year-over-year. Despite the revenue decline, the company significantly improved its GAAP gross margin to 35.8% and non-GAAP gross margin to 36.0%. Net loss decreased to $16 million from $48 million in the prior year, and adjusted EBITDA improved by 83% to negative $6 million.
Revenue for Q2 2025 was $153 million, an 18% decrease year-over-year.
GAAP gross margin improved to 35.8% and non-GAAP gross margin to 36.0% from 30.5% and 30.7% respectively in the prior year quarter.
GAAP net loss significantly reduced to $16 million from $48 million in Q2 2024.
Adjusted EBITDA improved by 83% year-over-year, reaching negative $6 million.
Revenue by Segment
Forward Guidance
GoPro anticipates restoring revenue growth and profitability starting in Q4 2025, driven by the launch of a broader and more diversified suite of hardware and software products in the second half of 2025.
Positive Outlook
- Expects to restore revenue growth starting in Q4 2025.
- Anticipates restoring profitability starting in Q4 2025.
- Plans to launch a broader, more diversified suite of hardware and software products in H2 2025.
- Initiatives from 2024 to reduce operating expenses and improve gross margin are delivering meaningful results.
- New opt-in AI Training program offers potential revenue opportunities by licensing user-generated content.
Challenges Ahead
- Current quarter revenue was down 18% year-over-year.
- Sell-through camera units were down 23% year-over-year.
- Subscription and service revenue was flat year-over-year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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