GoPro reported annual revenue of $801.5 million in 2024, down 20.3% from $1.0 billion in 2023, as the company faced headwinds from a softer global consumer market and increased competition. Camera units shipped decreased 18.5% to 2.4 million, while subscription and service revenue grew 9.7% to $107 million. The company recorded a net loss of $432.3 million, which included a $294.9 million valuation allowance on U.S. federal and state deferred tax assets.The company's gross margin improved to 33.8% from 32.2% in 2023, driven by higher subscription service contribution and lower operational costs, partially offset by increased promotional activity and foreign currency effects. GoPro maintained a solid financial position with $102.8 million in cash and cash equivalents at year-end, though operating cash outflows reached $125.1 million.To address market challenges, GoPro implemented multiple restructuring actions in 2024, including a 25% workforce reduction in Q3 and a 4% reduction in Q1, while also launching new products like the HERO13 Black flagship camera and entry-level HERO camera. The company expects its 2025 operational plan, focusing on cost savings and working capital management, to maintain sufficient liquidity for operations and debt obligations.

GoPro reported annual revenue of $801.5 million in 2024, down 20.3% from $1.0 billion in 2023, as the company faced headwinds from a softer global consumer market and increased competition. Camera units shipped decreased 18.5% to 2.4 million, while subscription and service revenue grew 9.7% to $107 million. The company recorded a net loss of $432.3 million, which included a $294.9 million valuation allowance on U.S. federal and state deferred tax assets.The company's gross margin improved to 33.8% from 32.2% in 2023, driven by higher subscription service contribution and lower operational costs, partially offset by increased promotional activity and foreign currency effects. GoPro maintained a solid financial position with $102.8 million in cash and cash equivalents at year-end, though operating cash outflows reached $125.1 million.To address market challenges, GoPro implemented multiple restructuring actions in 2024, including a 25% workforce reduction in Q3 and a 4% reduction in Q1, while also launching new products like the HERO13 Black flagship camera and entry-level HERO camera. The company expects its 2025 operational plan, focusing on cost savings and working capital management, to maintain sufficient liquidity for operations and debt obligations.