Business
GoPro Announces Fourth Quarter and Full Year 2019 Results
2019 Revenue of $1.195 Billion Up 4% Year-over-Year Q4 Revenue of $528 Million Up 40% Year-over-Year 2019 GAAP EPS of $(0.10); Non-GAAP EPS of $0.24 Adjusted
About this update from Gopro, Inc.
[{"type":"text","content":"2019 Revenue of $1.195 Billion Up 4% Year-over-Year\n Q4 Revenue of $528 Million Up 40% Year-over-Year\n 2019 GAAP EPS of $(0.10); Non-GAAP EPS of $0.24\n Adjusted EBITDA of $112 Million in Q4 Up 91% Year-over-Year\n\n\nSAN MATEO, Calif., Feb. 5, 2020 /PRNewswire/ -- GoPro, Inc. (NASDAQ: GPRO) today announced financial results for its fourth quarter and full year ended December 31, 2019.\n\n \n \n\n \n\"GoPro achieved both revenue growth and full year non-GAAP profitability in 2019 due to strong sell-through throughout the year and the Fall launch of our two new flagships, HERO8 Black and MAX,\" said GoPro founder and CEO Nicholas Woodman. \"We believe we are well positioned to meaningfully expand both margin and EPS in 2020 thanks to the strength of our entire product line, high-margin Plus subscription service and app monetization strategy.\"\nAdditionally, Brian McGee, who has served as GoPro's Chief Financial Officer since March 2016, has been appointed to Chief Operating Officer in addition to his ongoing role as Chief Financial Officer, effective February 3, 2020. \"Brian has proven himself to be a tremendously important leader at GoPro with a deep understanding of our business. All of us at GoPro are excited to work with Brian in his new, expanded role,\" added Woodman.\nRecent GoPro Highlights\nRevenue for the full year 2019 was $1.195 billion, up 4% year-over-year. Excluding our aerial business, revenue would have increased 7% year-over-year. Revenue for Q4 2019 was $528 million, up 40% year-over-year. GAAP gross margin for Q4 2019 was 38.2%, up from 37.7% year-over-year. Non-GAAP gross margin for Q4 2019 was 38.6%, up from 38.4% in the prior year. Q4 2019 GAAP net income was $96 million, or $0.65 per share. Non-GAAP net income was $102 million, or $0.70 per share. On a year-over-year basis, GAAP net income increased by $64 million. 2019 GAAP net loss was $15 million, or $0.10 per share. 2019 non-GAAP net income was $35 million. On a year-over-year basis, non-GAAP net income increased $67 million. Q4 2019 GAAP operating expenses of $106 million decreased 3% year-over-year. Q4 2019 non-GAAP operating expenses remained flat year-over-year at $99 million. Cash and investments totaled $165 million at the end of Q4 2019. Adjusted EBITDA for the full year 2019 was $72 million, a 230% increase year-over-year. GoPro.com represe...