GoPro Inc. reported revenues fell 18 percent in the second quarter ended June 30 but its losses shrank due to aggressive efforts to reduce expenses and improve margins.

“The initiatives we undertook in 2024 to reduce operating expenses and improve gross margin are beginning to deliver meaningful results. In Q2 2025, year-over-year, we improved gross margin to 36.0 percent, up from 30.7 percent, reduced operating expenses 32 percent and improved adjusted EBITDA 83 percent,” said Brian McGee, GoPro’s CFO and COO.

“Our Q2 results reflect consistent operational execution and efficiency, and we’re excited to launch a broader, more diversified suite of hardware and software products in the second half of 2025, which we believe will restore revenue growth and profitability to our business starting in Q4 2025,” said Nicholas Woodman, GoPro’s founder and CEO.

Q2 2025 Financial Results

  • Revenue was $153 million, down 18 percent year-over-year.
  • Sell-through was approximately 500,000 camera units, down 23 percent year-over-year.
  • Subscription and service revenue was flat year-over-year at $26 million. GoPro subscriber count ended Q2 at 2.45 million, down 3 percent year-over-year.
  • Revenue from the retail channel was $111 million, or 73 percent of total revenue and down 19 percent year-over-year. GoPro.com revenue, including subscription and service revenue, was $41 million, or 27 percent of total revenue and down 16 percent year-over-year.
  • GAAP gross margin was 35.8 percent compared to 30.5 percent in the prior year quarter. Non-GAAP gross margin was 36.0 percent compared to 30.7 percent in the prior year quarter.
  • GAAP net loss was $16 million, or a $(0.10) loss per share, compared to a net loss of $48 million or $(0.31) loss per share, in the prior year period.
  • Non-GAAP net loss was $12 million, or a $(0.08) loss per share, compared to non-GAAP net loss of $36 million, or $(0.24) per share, in the prior year period.
  • Adjusted EBITDA was negative $6 million compared to negative $33 million in the prior year period, an 83 percent improvement year-over-year.

Recent Business Highlights 

  • GoPro closed a second lien credit facility of $50 million. As part of the agreement, GoPro issued an aggregate of 11.1 million warrants to purchase shares of its common stock at an exercise price of $1.25.
  • A United States Administrative Law Judge with the International Trade Commission issued an initial determination that one of its China-based competitors, Insta360, violated federal law by importing and selling products that infringe on a patent covering GoPro’s iconic HERO camera design in the U.S. A final determination will be issued on or before November 10, 2025.
  • GoPro announced a new opt-in AI Training program that enables U.S. subscribers to voluntarily make their user-generated content available for GoPro to license to leading technology companies seeking diverse, real-world footage to enhance the performance and accuracy of their AI models. The GoPro subscriber community’s vast data lake, containing more than 450 petabytes of cloud-based, high-quality video content, which translates into more than 13 million hours of video, represents a valuable opportunity for AI developers to train their models with a rich and varied dataset.
  • GoPro launched HERO13 Black Ultra Wide Edition, a special edition of its flagship HERO13 Black camera bundled in-box with our Ultra Wide Lens Mod pre-installed on the camera, making it simple to capture low-distortion, incredibly wide-angle 177-degree perspectives that make you feel like you’re fully immersed in the moment.
  • GoPro added two easy and advanced 360 editing tools to the GoPro App, MotionFrame and POV, offering a way to review, capture and share traditional fixed-frame videos and photos from 360 footage.
  • GoPro introduced a limited-edition Forest Green colorway of HERO13 Black, offering a bold, nature-inspired aesthetic designed to appeal to outdoor enthusiasts.
  • GoPro refreshed its Board of Directors with the addition of three seasoned executives.