Gopro, Inc. · NASDAQ:GPRO
Gopro — Q2 2017 Earnings Presentation
13 slides from Gopro's earnings presentation, Aug 3, 2017
Slide 1: Q2 2017 Preliminary Earnings Results Summary
Q2 2017 Preliminary Earnings August 3, 2017 Results Summary
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation may contain projections or other forward-looking statements within the meaning of the Private Securities Litigation Reform Act. Forward-looking statements in this presentation may include, but are not limited to, expectations regarding our business outlook for
Slide 3: Use of Non-GAAP Metrics
USE OF NON-GAAP METRICS We report gross margin, operating expenses, operating income (loss), net income (loss) and diluted net income (loss) per share in accordance with U.S. generally accepted accounting principles (GAAP) and on a non-GAAP basis. Additionally, we report non-GAAP adjusted EBITDA. No
Slide 4: Quarterly Non-GAAP Income Statement Summary
QUARTERLY NON-GAAP INCOME STATEMENT SUMMARY ($ in millions, except EPS) Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2015 Revenue $ 296.5 $ 218.6 $ 540.6 $ 240.6 $ 220.8 $ 183.5 $ 436.6 $ 400.3 $ 419.9 Camera units shipped (in thousands) 1,061 738 2,284 1,018 759 701 2,002 1,59
Slide 5: Quarterly Revenue Metrics
QUARTERLY REVENUE METRICS ($ in millions) Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Revenue by Channel: $ % of Rev $ % of Rev $ % of Rev $ % of Rev $ % of Rev Direct $ 169.7 57.2% $ 114.8 52.5% $ 290.3 53.7% $ 147.9 61.5% $ 128.0 58.0% Distribution 126.8 42.8 103.8 47.5 250.3 46.3 92.7 38.5 92.8 42.0
Slide 6: Selected Balance Sheet Metrics
SELECTED BALANCE SHEET METRICS ($ in millions) Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2015 Cash, cash equivalents and marketable securities $ 149.8 $ 74.9 $ 218.0 $ 224.9 $ 279.2 $ 388.7 $ 474.1 $ 513.1 $ 517.0 Days sales outstanding 29 23 27 35 27 23 30 27 25 Inventory $
Slide 7: Appendix
APPENDIX
Slide 8: 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), earnings (loss)
Slide 9: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS The following are explanations of each type of adjustment that we incorporate into non-GAAP financial measures: ● Stock-based compensation expense relates to equity awards granted primarily to our workforce. We exclude stock-based compensation because we be
Slide 10: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ● Income tax adjustments. Beginning in the first quarter of 2017, we implemented a cash-based non-GAAP tax expense approach (based upon expected annual cash payments for income taxes) for evaluating operating performance as well as for planning and forecast
Slide 11: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS (in thousands, except per share data) Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2015 GAAP net income (loss) $ (30,536) $ (111,150) $ (115,709) $ (104,068) $ (91,767) $ (107,459) $ (34,451) $ 18,799 $ 35,031 Stock-based compensation:
Slide 12: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2015 GAAP gross margin 35.6% 31.4% 39.2% 40.3% 42.1% 32.5% 29.4% 46.6% 46.3% Stock-based compensation 0.1 0.2 0.1 0.2 0.2 0.2 0.1 0.1 0.1 Acquisition-related costs 0.4 0.6 0
Slide 13: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS (in thousands) Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Q3 2015 Q2 2015 GAAP net income (loss) $ (30,536) $ (111,150) $ (115,709) $ (104,068) $ (91,767) $ (107,459) $ (34,451) $ 18,799 $ 35,031 Income tax expense (benefit) 1,991 22,282 87,391