SAN MATEO, Calif. (BRAIN) — GoPro Inc. revenue dipped 37% year-over-year as the action camera brand experienced declines in retail (41%) and its online revenue (22%) channels.
Revenue for the quarter ending Sept. 30 was $163 million, compared with $259 million at the same time last year. Sell-through declined 18% year-over-year to about 500,000 cameras. Subscription and service revenue decreased 3% to $27 million and subscribers dropped 5% to 2.42 million during the quarter.
Despite the declines, founder and CEO Nicholas Woodman remains upbeat.
"Q3 marked a meaningful step forward in our strategy to diversify, grow, and restore profitability to GoPro's business," Woodman said. "We successfully launched three new TAM-expanding hardware products — our MAX2 360 camera, LIT HERO camera and Fluid Pro AI gimbal — alongside several new software offerings. We expect to return to revenue growth and profitability beginning Q4 2025 and in 2026."
To show his confidence in the company's future, a trust affiliated with Woodman will invest $2 million through the purchase of GoPro Series A common stock.
Also during the quarter, GoPro amended its second lien credit agreement with Mateo Financing LLC and Farallon Capital Management LLC in August to adjust interim 2026 covenants to accommodate for the camera tariff rate increases from 10% to 19%.
First-quarter GAAP net income loss was $21 million (negative $0.13 per share) compared with a net loss of $8.2 million (negative $0.05 per share) in the prior year period.
GoPro's corporate headquarters are in San Mateo. Its stock is traded on NASDAQ under the GPRO symbol. Stock quotes are available at nasdaq.com.
