GoPro, Inc. CFO and COO Brian McGee said the company’s 2025 first quarter results reflect GoPro’s commitment to reducing operating expenses, which were down 26 percent year-over-year, improving subscription ARPU, up 5 percent year-over-year, and further diversifying the company’s supply chain. McGee said these elements position GoPro “to navigate an evolving market landscape throughout 2025.”

Q1 Overview

  • Revenue for the first quarter amounted to $134 million, a decline of 14 percent year-over-year.
  • Sell-through was approximately 440,000 camera units, down 18 percent year-over-year.
  • Subscription and service revenue increased 4 percent year-over-year to $27 million, primarily due to 5 percent ARPU growth from improving retention rates.
  • GoPro subscriber count ended Q1 at 2.47 million, down 1 percent year-over-year.
  • Revenue from the retail channel was $94 million, or 70 percent of total revenue, down 12 percent year-over-year.
  • GoPro.com revenue, including subscription and service revenue, was $40 million, or 30 percent of total revenue, and down 18 percent year-over-year.

The GAAP net loss was for the quarter $47 million, or a loss per share of 30 cents, compared to a net loss of $339 million or a $2.24 loss per share, in the prior-year Q1 period. The first quarter of 2024 net loss included the establishment of a valuation allowance of $295 million, or a $1.95 loss per share.

The Non-GAAP net loss was $19 million, or a 12-cent loss per share, compared to a non-GAAP net loss of $319 million, or $2.11 per share loss, in the prior-year Q1 period. The first quarter of 2024 net loss included the establishment of a valuation allowance of $295 million, or a $1.95 loss per share.

GAAP and non-GAAP gross margins were 32.1 percent and 32.3 percent, respectively, compared to GAAP and non-GAAP gross margins of 34.1 percent and 34.4 percent, respectively, in the prior-year period.

Adjusted EBITDA was negative $16 million compared to negative $29 million in the prior-year Q1 period, a 46 percent improvement year-over-year.

“Our teams are excelling as a more efficient organization, and we believe the new products we have planned for the balance of 2025 and 2026 set us up for a return to growth in revenue and profitability,” said Nicholas Woodman, GoPro’s founder and CEO.

2025 Business Highlights

  • In January 2025, GoPro introduced an upgrade for its entry-level Hero camera, enabling a more immersive video with a new 4K 4:3 aspect ratio video setting and in-app SuperView Digital Lens option.
  • In February 2025, GoPro released an updated 360 mobile editing experience in its Quik App, featuring several new features that make 360 editing Max footage easier, and introduced a refreshed Max 360 camera.
  • In March 2025, GoPro launched a limited edition Polar White colorway for its flagship Hero13 Black camera.
  • In March 2025, GoPro released its Anamorphic Lens Mod for Hero13 Black, offering creators and filmmakers a small, affordable camera for capturing videos, joining its previously released Ultra Wide Lens Mod, Macro Lens Mod and auto-detect ND Filters, which the company reports enhance Hero13 Black versatility and performance

Image courtesy GoPro, Inc.