GoPro Searches for a Lifeline as It Lost $51 Million Last Quarter

GoPro has announced its second-quarter financial results and some of the core numbers are dire.

Despite launching the all-new Mission 1 Series cameras earlier this year, decidedly good cameras no less, it has been a tough 2026 for GoPro, following years of difficulties dealing with growing Chinese competitors.

GoPro said in April that it would lay off about 23 percent of its workforce this year amid excess costs. The company disclosed the following month that it was evaluating its options, including contemplating a potential sale.

Last month, GoPro’s founder and CEO, Nicholas Woodman, effectively lent the company $20 million. Just a couple of weeks later, NASDAQ warned the company that it was no longer compliant with listing requirements. As of writing, GoPro’s stock is trading at just 70 cents a share, a far cry from its peak share price of $94 in October 2014.

Today’s financial results paint a dismal picture for the American camera company that was once at the top of the action camera industry. Hardware revenue is down 39.9 percent year-over-year while subscription and services revenue is up 10.6 percent. Overall revenue is down 31.3 percent.

GoPro says it sold approximately 291,000 camera units last quarter, which is down 38 percent year-over-year. While the GoPro Mission 1 and Mission 1 Pro launched at the end of May, just a month before the second quarter ended, it’s very bad news that the exciting launch didn’t offer more relief for GoPro.

With GAAP accounting, GoPro lost $51 million, or 30 cents per share, in the second quarter. In the same period last year, GoPro lost $16 million. The company’s non-GAAP net loss was $36 million, compared to $12 million in Q2 last year. With either accounting method, the loss is dramatic.

As GoPro reiterated today, the company’s Board of Directors authorized a process to evaluate a potential sale of GoPro and other strategic options, all to maximize shareholder value.

“The inquiries we have received span the defense, consumer and financial sectors, and we are in the later stages of the process. As I’ve shared, this process has my full support,” says Nicholas Woodman.

“To close, looking back at Q2, we expanded the performance and creative potential of our camera lineup with the launch of the Mission 1 Series of cameras and continued to make progress with our strategic review process that aims to maximize shareholder value,” Woodman concluded.

“I’m very proud of our team’s execution and I’m excited about our new and upcoming products as they further establish GoPro as one of the world’s most exciting digital imaging companies and brands.”

Image creditsGoPro. Header image created using an asset licensed via Depositphotos.com.