GoPro Q2 Revenue Plunges 31%, Misses Sole EPS Estimate by Wide Margin
GPRO is trading near its 52-week low of $0.59 (12% above the low).
Summary
GoPro's Q2 revenue collapsed 31% year-over-year to $104.93M, driven by a sharp decline in camera sales. Adjusted EPS of -$0.21 badly missed the lone analyst estimate of $0.02, and the net loss widened to $51M. The company offered no financial guidance, deepening uncertainty. This follows a cascade of red flags: a Nasdaq delisting notice in July, a going-concern warning in the last 10-Q, and massive dilution from convertible debentures and insider financing. The only bright spot was subscription revenue, up 11% with a record 69% attach rate, but it's not enough to offset the hardware collapse. With the stock at $0.66 and a single sell-rated analyst, the business is in a fight for survival.
At the time of this announcement, GPRO was trading at $0.66 on NASDAQ in the Technology sector, with a market capitalization of approximately $123M. The 52-week trading range was $0.59 to $3.05. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.