GoPro reported Q3 2024 revenue of $258.9 million, down 12% year-over-year, with a net loss of $8.2 million compared to $3.7 million in Q3 2023. Camera units shipped decreased 4.6% to 881,000. Gross margin improved to 35.5% from 32.0% last year. The company cited macroeconomic challenges and increased competition, particularly in China, as factors impacting performance.GoPro's retail revenue represented 80.3% of total revenue, while GoPro.com revenue, including subscriptions, accounted for 19.7%. The subscription attach rate was 45%, with an annual subscriber retention rate of 67%. The company launched its HERO13 Black flagship camera and a new entry-level HERO camera during the quarter, expanding its product lineup.Looking ahead, GoPro announced plans to reduce its global workforce by approximately 26% compared to Q2 2024 levels, aiming to lower operating costs. The company ended the quarter with $130.2 million in cash and cash equivalents. Management believes current cash resources are sufficient to sustain operations for at least one year, while continuing to evaluate additional cost reduction initiatives and financing options.

GoPro reported Q3 2024 revenue of $258.9 million, down 12% year-over-year, with a net loss of $8.2 million compared to $3.7 million in Q3 2023. Camera units shipped decreased 4.6% to 881,000. Gross margin improved to 35.5% from 32.0% last year. The company cited macroeconomic challenges and increased competition, particularly in China, as factors impacting performance.GoPro's retail revenue represented 80.3% of total revenue, while GoPro.com revenue, including subscriptions, accounted for 19.7%. The subscription attach rate was 45%, with an annual subscriber retention rate of 67%. The company launched its HERO13 Black flagship camera and a new entry-level HERO camera during the quarter, expanding its product lineup.Looking ahead, GoPro announced plans to reduce its global workforce by approximately 26% compared to Q2 2024 levels, aiming to lower operating costs. The company ended the quarter with $130.2 million in cash and cash equivalents. Management believes current cash resources are sufficient to sustain operations for at least one year, while continuing to evaluate additional cost reduction initiatives and financing options.