# GoPro, Inc. (GPRO)

> Source: Nexqual · https://nexqual.com/GPRO · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, GoPro, Inc. (GPRO), nexqual.com/GPRO" · informational, not investment advice.

**Price:** USD 1.02 (-4.23% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 1.07 · day 1.01–1.06 · 52w 0.57–2.51 · market cap $210M · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $569M, net income -$157M (-27.6% margin), free cash flow -$23.3M (SEC filings).
- 1 of 80 tracked superinvestors hold GPRO (13F, Q2 2026): 0 new, 0 added, 0 reduced, 1 unchanged.
- Insider open-market sales, last ~7 months: 2 Form 4 filings, $146K; 0 not under a Rule 10b5-1 plan ($0K); 1 by opportunistic insiders (0 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Sell (mean 4.00 on a 1–5 scale) (1 analysts), mean target USD 0.5 (range 0.5–0.5).
- Total return with dividends: 1Y -53.4% vs S&P 500 +14.9%; 5Y -88.5% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD -0.14, revenue estimate $0K.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.16B | $1.09B | $1.01B | $801M | $652M | $569M |
| Gross profit | $477M | $407M | $324M | $271M | $219M | — |
| Operating income | $113M | $39.0M | -$75.5M | -$135M | -$83.3M | -$120M |
| Net income | $371M | $28.8M | -$53.2M | -$432M | -$92.6M | -$157M |
| EPS (diluted) | $2.27 | $0.18 | -$0.35 | -$2.82 | -$0.58 | — |
| Free cash flow | $224M | $2.3M | -$34.4M | -$129M | -$24.0M | -$23.3M |
| Gross margin | 41.1% | 37.2% | 32.2% | 33.8% | 33.6% | — |
| Operating margin | 9.8% | 3.6% | -7.5% | -16.8% | -12.8% | -21.2% |
| Net margin | 32.0% | 2.6% | -5.3% | -53.9% | -14.2% | -27.6% |
| Revenue growth | +30.2% | -5.8% | -8.1% | -20.3% | -18.7% | — |
| Cash + short-term investments | $539M | $367M | $247M | $103M | $49.7M | — |
| Total debt | $234M | $141M | $92.6M | $93.2M | $56.2M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 0.4x · EV/Sales 0.5x · FCF yield -11.06% · Earnings yield -74.59% · Net debt $54.4M · EV $265M

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold GPRO. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| David Einhorn | Greenlight Capital | 0.03% | $1.3M | Unchanged |

## Insider sales (SEC Form 4, open-market, last ~7 months)
2 of 2 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-20 | McGee Brian | President and COO | 130,631 | $127K | 12.1% | Yes (adopted May 19, 2025) | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-05-18 | Stephen Jason Christopher | SVP, General Counsel | 16,894 | $19K | 4.2% | Yes (adopted August 19, 2025) | Too little history (no open-market trades in 2023 or 2024) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Sell (mean 4.00 on a 1–5 scale), 1 analysts; mean target USD 0.5 (low 0.5, high 0.5).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -53.4% | -88.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -53.5% | -35.1% |
| Volatility (annualized) | 112.9% | 88.4% |
| Max drawdown | -73.7% (Oct 2025→Aug 2026) | -95.6% (Nov 2021→Apr 2025) |

## Peers (Consumer Electronics)
SONO (Sonos, Inc.) USD 17.71 +1.35% · LPL (LG Display Co, Ltd AMERICAN DEP) USD 2.61 -1.14% · SONY (Sony Group Corporation) USD 26.2 +4.38% · AAPL (Apple Inc.) USD 348.22 +1.23%

## More
Full page: https://nexqual.com/GPRO · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in GPRO's own 10-K filed 2026-03-12 (https://www.sec.gov/Archives/edgar/data/1500435/000150043526000006/gpro-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Amazon (AMZN) | "Additionally, we rely on third parties such as Amazon Web Services to provide software and enterprise services." |
| Supplier | Nasdaq Stock Market | "The Exchange Cap will not apply under certain circumstances, including if we obtain the approval of our stockholders as required by the applicable rules of the Nasdaq Stock Market for issuances of Common Stock in excess …" |
| Partner | YA II PN | "Issuances of Class A common stock pursuant to our securities purchase agreement with YA II PN, Ltd., or other future equity financings or strategic transactions, will dilute the percentage of outstanding shares represent…" |
| Partner | Farallon Capital Management | "On August 4, 2025, we entered into a Credit Agreement with Farallon Capital Management, L.L.C., as administrative agent and collateral agent (the Agent), and Mateo Financing, LLC (the Lender)." |
| Partner | Mateo Financing | "On August 4, 2025, we entered into a Credit Agreement with Farallon Capital Management, L.L.C., as administrative agent and collateral agent (the Agent), and Mateo Financing, LLC (the Lender)." |
| Competitor | Samsung Electronics | "We compete against established, well-known camera manufacturers such as Canon Inc. and Nikon Corporation, as well as large, diversified electronics companies such as, Samsung Electronics Co. and Sony Corporation and spec…" |
| Competitor | Sony (SONY) | "We compete against established, well-known camera manufacturers such as Canon Inc. and Nikon Corporation, as well as large, diversified electronics companies such as, Samsung Electronics Co. and Sony Corporation and spec…" |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Hardware | $76.0M | 72.4% | -39.9% |
| Subscription and services | $29.0M | 27.6% | +10.6% |
| Total revenue | $104.9M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Americas | $68.6M | 65.4% | -30.5% |
| United States | $65.9M | 62.8% | -19.2% |
| Europe, Middle East and Africa | $20.1M | 19.2% | -42.7% |
| Asia and Pacific Area Countries | $16.2M | 15.4% | -13.7% |
| Total revenue | $104.9M | 100% | — |
The lines above cover 162.8% of total revenue.

## Customer concentration

Period ended 2025-06-30: 19%, 11% of revenue from unnamed direct customers (10-Q, filed 2026-08-10).

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.14 | $0.00 | — | $0 | 1 |
| Next quarter (ends 2026-12-31) | $-0.02 | $0.00 | — | $0 | 1 |
| Current fiscal year (ends 2026-12-31) | $-0.72 | $0.05 | -1540.0% | $543.1M | 1 |
| Next fiscal year (ends 2027-12-31) | $-0.01 | $0.05 | -120.0% | $735.8M | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-05): ±14.7%; last 8 reports averaged ±14.4%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 66.3% | ±14.7% |
| 2026-12-18 | 56 | 69.9% | ±22.1% |
| 2027-01-15 | 84 | 76.2% | ±29.4% |
| 2027-04-16 | 175 | 67.6% | ±36.8% |