Gopro, Inc. · NASDAQ:GPRO

Gopro — Investor Presentation (June 2021)

36 slides from Gopro's investor presentation, June 2021

Slide 3: Highlights
HIGHLIGHTS # 1 HERO9 BLACK BEST-SELLING 41M+ GOPRO CAMERAS SOLD2 ~ 1.2M ACTIVE PAYING GOPRO CAMERA IN THE U.S. CAMCORDER SUBSCRIBERS3 MARKET1 35% CONSUMER-DIRECT SALES AT 3.4B+ GOPRO’S YOUTUBE CHANNEL 47M+ SOCIAL FOLLOWERS ACROSS GOPRO.COM4 LIFETIME VIEWS5 ALL PLATFORMS6 10M+ 10M+ 21M+ YOUTUBE SUBSC
Slide 4: We help the world capture and share itself in immersive and exciting ways
WE HELP THE WORLD CAPTURE AND SHARE ITSELF IN IMMERSIVE AND EXCITING WAYS Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved.
Slide 6: GoPro Ecosystem
GOPRO ECOSYSTEM CAPTURE APP CLOUD 41M+ CAMERAS SOLD SEAMLESS APP EXPERIENCE ~1.2M PAYING SUBSCRIBERS Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved.
Slide 7: Business Transition
BUSINESS TRANSITION OLD GOPRO 2020 GOPRO NEW GOPRO IN 2021 AND BEYOND Hardware Only Hardware & Subscription Hardware, Subscription, & App Monetization Retail 90%+ Retail 68% / DTC 32% DTC > 40% and Growing as a Percentage of Mix Low 30’s Gross Margin1 36% Gross Margin 39% to 41% Gross Margin Target
Slide 10: HERO9 Black Detail
HERO9 BLACK DETAIL • 23.6 MP Sensor - The groundbreaking HERO9 Black sports a beastly 23.6MP sensor for ridiculous 5K video and stunning 20MP photos. • Powerful Battery - 30% longer battery life is here thanks to a larger 1720mAh battery1. This lets you shoot more without having to swap out batterie
Slide 11: HERO8 Black Detail
HERO8 BLACK DETAIL • Streamlined Design - The reimagined shape is more pocketable, and folding fingers at the base let you swap mounts quickly. A new side door makes changing batteries even faster, and the lens is now 2x more impact resistant. • Expandable Mods System - Vloggers, pro filmmakers and
Slide 12: MAX Detail
MAX DETAIL • Three Cameras in One - Maximize your creative freedom. With MAX you can shoot traditional HERO-style video and photos or capture immersive 360 footage. Vlog to the max with shotgun-mic performance and a front-facing screen. • Max HyperSmooth - MAX gives you unbreakable stabilization by
Slide 13: Technology Innovator
TECHNOLOGY INNOVATOR CAPTURE INNOVATION AUTOMATED GOPRO APP HYPERSMOOTH 3.0 STORYTELLING Next Gen Capture Leads Quik, Mobile & Cloud Visual & Audio Syncing To Next Gen Sharing Storage Capabilities Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved.
Slide 14: GoPro Subscription Service
GOPRO SUBSCRIPTION SERVICE $49.99 / Annual ~1.2M Subscribers1 2 • Full Access to Quik App Features 3 • Up to $100 Off Camera Purchase 4 • Damage Replacement • Auto Cloud Backup • Share on the Go • Save Unlimited Photos/Videos at 5 Original Resolution to Cloud • Up to 50% Off Accessories • VIP Suppor
Slide 15: Quik Subscription Service
QUIK SUBSCRIPTION SERVICE $9.99 / Annual >100K Subscribers1 • Get the most out of your • Quik’s “Mural” feature serves photos and videos, no matter as a private feed for your what phone or camera you’re favorite shots. using. • Auto-generated videos + • Rescue your best shots from powerful editing t
Slide 17: Marketing
MARKETING GLOBAL CHANNEL GLOBAL ATHLETES & SOCIAL TOP TIER SOCIAL ONLINE ADS RESORTS MARKETING TRADESHOWS VLOG INFLUENCERS EVENTS Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved.
Slide 18: Strong Global Network
STRONG GLOBAL NETWORK GLOBAL FOOTPRINT >100 COUNTRIES1 POINT OF PURCHASE DISPLAYS~22k1 GOPRO.COM: 35% OF RETAIL: 65% OF Q2 2021 REVENUE Q2 2021 REVENUE GOPRO.COM OTHER ONLINE BIG BOX MID MARKET DISTRIBUTOR 1 As of 6/30/2021 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved.
Slide 20: Quarterly Trend
QUARTERLY TREND QUARTERLY REVENUE & STREET ASP QUARTERLY NON-GAAP GROSS MARGIN1 Street ASP $600M $400 ~13% CAGR $528 $350 40% $500M 39% 38% 39% 36% 36% $300 34% 32% $400M $358 $250 $292 23% $300M $281 $200 $250 $204 $150 $200M $131 $134 $100 $119 $100M $50 $0M $0 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1
Slide 21: Revenue & Adjusted EBITDA
REVENUE & ADJUSTED EBITDA REVENUE ADJUSTED EBITDA $ in millions $ in millions Annual Quarterly Quarterly $72 $1,185 $1,180 $1,148 $1,195 $43 $22 $25 $892 ($31) ($22) $250 $134 ($193) 2016 2017 2018 2019 2020 2Q20 2Q21 2016 2017 2018 2019 2020 2Q20 2Q21 Confidential information. Copyright © 2021. GoP
Slide 22: Trailing Twelve Months Trend
TRAILING TWELVE MONTHS TREND 1 TTM REVENUE TTM NON-GAAP NET INCOME (LOSS) $ in millions $ in millions $1,198 $1,195 $117 $1,071 $1,062 $1,092 $1,044 $976 $913 $892 $67 $54 $30 $35 $13 ($4) ($25) ($38) 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 1 See rec
Slide 23: Paying Subscribers
GOPRO SUBSCRIPTION $ Subscription Revenue QUARTERLY SUBSCRIBERS 1,200K 211% YoY Subscriber Growth $11.6M 23% QoQ Subscriber Growth 1,000K $10.7M Paying Subscribers 800K $7.7M 600K $5.8M 400K $4.8M $4.7M $4.0M $4.5M $3.3M $3.1M 200K $2.6M $3.1M $2.2M 0K 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q
Slide 24: Sell-Through Units Price Band Trend
SELL-THROUGH UNITS PRICE BAND TREND CAMERA UNITS SELL-THROUGH MIX Annual Quarterly > $300 MSRP Quarterly < $300 MSRP 42% 57% 70% 74% 84% 84% 58% 43% 30% 26% 16% 16% 2017 2018 2019 2020 2Q 2020 2Q 2021 Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved.
Slide 28: Estimated Dilution from Convertible Notes
ESTIMATED DILUTION FROM CONVERTIBLE NOTES Convertible dilution at various share prices APR 2022 NOV 2025 NOV 2025 CONVERTIBLE CONVERTIBLE CAPPED CALL NOV 2025 TOTAL CONVERTIBLE STOCK PRICE DILUTION A DILUTION BENEFIT NET DILUTION B DILUTION (A + B) C $8.00 0.0mm 0.0mm 0.0mm 0.0mm 0.0mm $9.00 0.0mm 0
Slide 30: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS To supplement our unaudited selected financial data presented on a basis consistent with GAAP, we disclose certain non-GAAP financial measures, including non-GAAP gross margin, operating expenses, operating income (loss), net income (loss), diluted net inco
Slide 31: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ● adjusted EBITDA excludes the amortization of point of purchase (POP) display assets because it is a non-cash charge, and is treated similarly to depreciation of property and equipment and amortization of acquired intangible assets; ● adjusted EBITDA and n
Slide 32: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ● non-GAAP net income (loss) excludes acquisition-related costs including the amortization of acquired intangible assets (primarily consisting of acquired technology), the impairment of acquired intangible assets (if applicable), as well as third-party tran

GoPro — Investor Presentation (June 2021) on 6ix

Gopro — Investor Presentation (June 2021)

Slide 1: Investor Presentation

Slide 2: Safe Harbor Statement

Slide 3: Highlights

Slide 4: We help the world capture and share itself in immersive and exciting ways

Slide 5: About Us

Slide 6: GoPro Ecosystem

Slide 7: Business Transition

Slide 8: Our Products

Slide 9: Product Line-Up

Slide 10: HERO9 Black Detail

Slide 11: HERO8 Black Detail

Slide 12: MAX Detail

Slide 13: Technology Innovator

Slide 14: GoPro Subscription Service

Slide 15: Quik Subscription Service

Slide 16: Marketing & Distribution

Slide 17: Marketing

Slide 18: Strong Global Network

Slide 19: Financial Overview

Slide 20: Quarterly Trend

Slide 21: Revenue & Adjusted EBITDA

Slide 22: Trailing Twelve Months Trend

Slide 23: Paying Subscribers

Slide 24: Sell-Through Units Price Band Trend

Slide 25: Quarterly Non-GAAP Income Statement Summary

Slide 26: Quarterly Revenue Metrics

Slide 27: Select Balance Sheet Metrics

Slide 28: Estimated Dilution from Convertible Notes

Slide 29: Appendix

Slide 30: Appendix: GAAP to Non-GAAP Reconciliations

Slide 31: Appendix: GAAP to Non-GAAP Reconciliations

Slide 32: Appendix: GAAP to Non-GAAP Reconciliations

Slide 33: Appendix: GAAP to Non-GAAP Reconciliations

Slide 34: Appendix: GAAP to Non-GAAP Reconciliations

Slide 35: Appendix: GAAP to Non-GAAP Reconciliations

Slide 36: Thank you.