Gopro, Inc. · NASDAQ:GPRO
Gopro — Q1 2026 Earnings Presentation
34 slides from Gopro's earnings presentation, May 20, 2026
Slide 1: Investor Presentation
Investor Presentation Speaker/ Date/ Subtitle May 20, 2026 Copyright © 2026. GoPro, Inc. All rights reserved.
Slide 2: Safe harbor statement
Safe harbor statement This presentation may contain projections or other forward-looking statements within the meaning Section 27A of the Private Securities Litigation Reform Act. Words such as “anticipate,” “believe,” “estimate,” “expect,” “intend,” “should,” “will,” “plan” and variations of these
Slide 3: Our values define and align us
Our values define and align us Make friends Collaborate and include. Strength in numbers. Obsessively serve Put consumer interest first. Harness the power of WOW Exceed expectations. Stay agile Be willing to adapt and commit. Be a HERO Take responsibility. Integrity, always. Copyright © 2026. GoPro,
Slide 4: To create innovative solutions that address unmet needs in digital imaging
To create innovative solutions that address unmet needs in digital imaging. Copyright © 2026. GoPro, Inc. All rights reserved.
Slide 5: Key business highlights
Key business highlights JANUARY MARCH APRIL MAY GoPro announced a partnership GoPro announced a partnership GoPro announced plans to GoPro launched its new MISSION with ASUS, a leading Taiwanese with DICK’s Sporting Goods and formally explore global defense 1 Series of cameras—the world’s multinatio
Slide 6: Established brand and highly profitable subscription service
Established brand and highly profitable subscription service 13M 11M+ 24M+ YOUTUBE SUBSCRIBERS1 FACEBOOK LIKES1 INSTAGRAM FOLLOWERS1 2.26M $100M+ ~50% GOPRO SUBSCRIBERS1 ANNUALIZED SUBSCRIPTION SUBSCRIPTION OPERATING REVENUE PROFIT1 1 As of March 31, 2026 Copyright © 2026. GoPro, Inc. All rights res
Slide 7: Executing on our strategy
Executing on our strategy 2020 2021 2022 2023 2024 2025 Hardware + Hardware + Hardware + Premium Hardware + Premium Hardware + Hardware + Subscription + Subscription + & Premium+2 & Premium+2 Subscription Subscription + Service Service Subscription + Subscription + Service Service Service Retail 68%
Slide 8: Strategic metrics driving financial performance
Strategic metrics driving financial performance1 Camera Mix, MSRPs ≥ $4002 Subscribers3 (k) 100% 3,000 11% CAGR 90% 2,500 80% 2,000 70% 60% 1,500 50% 1,000 40% 30% 500 20% - 2022 2023 2024 2025 1Q26 1Q22 1Q23 1Q24 1Q25 1Q26 Street ASPs4 ($) Gross Margin %5 $450 45% 1Q26 ASP of $371 $400 40% 31.1% 1Q
Slide 9: Subscription & Service value proposition
Subscription & Service value proposition 2.26M 41 $27MM+ GOPRO CAMERAS SOLD2 Subscription Strategy Priorities: o Retention & Engagement: SUBSCRIBERS1 REVENUE2 FLAT YoY Strengthen subscriber stickiness through enhanced value-added >65% 71% services o ARPU Growth: Target YoY increase GROSS MARGIN3 AGG
Slide 10: Our Products
Our Products CAMERAS ACCESSORIES QUIK APP Action & 360° Capture Mounts, Power & Stabilization Software & Subscription Auto-Upload to the Cloud Your photos and videos are automatically added to the cloud at 100% quality, accessible from any of your devices. Unlimited Cloud Backups Get unlimited stora
Slide 11: Partnership
Partnership Revolutionary Motorcycle Helmets • $3B Market Opportunity • Tech Meets Performance Powerhouse Brands Unite + • Cutting-Edge Innovation • Next-Level Rider Safety Future of Motorcycling • Smart Technology • Premium Design • Unrivaled Protection Copyright © 2026. GoPro, Inc. All rights rese
Slide 12: A seamless ecosystem
A seamless ecosystem Capture Premium and Premium+ Cloud1 + Editing 1 Hosted by AWS Product Copyright © 2026. GoPro, Inc. All rights reserved.
Slide 13: A technology innovator
A technology innovator CAPTURE INNOVATION AUTOMATED GOPRO APP HYPERSMOOTH 6.0 STORYTELLING Quik, Mobile, Cloud Visual & Audio Syncing, Next Gen Capture Leads AI-Powered Object To Next Gen Sharing Storage, & All New 360° Editing Experience Tracking, CameraFx & Keyframing In Q3’25, GoPro was honored w
Slide 14: Versatile Storytelling Solutions / Immersive Sharing
WE MAKE WE ENABLE Versatile Storytelling Solutions Immersive Sharing Anamorphic Lens Mod Removable Lens Macro Lens Mod True 8K Ultra Wide Lens Mod Updated 360 SW Features ND Filters in App Copyright © 2026. GoPro, Inc. All rights reserved.
Slide 15: Derivative product launches
Derivative product launches MAX 2 CREATOR VOLTA LIT HERO EDITION (CE) True 8K 360 Video Built-in LED Light “Hollywood in Your Powered Control Grip + Featuring Emmy® Hand” >5.5 Hours of 4K/30 Lightweight Award-Winning 360 Video Recording + Technology Easy to Use Innovation to super-serve our customer
Slide 16: Premium+ subscription service offering
Premium+ subscription service offering $99.99 / year Existing premium subscribers can upgrade 1 • Every benefit from the Premium tier • 500 GB cloud storage for non-GoPro footage • HyperSmooth Pro video stabilization • Mobile editing with Quik 1 Visit https://gopro.com/en/us/shop/subscriptions for f
Slide 17: Compelling premium subscription service offering
Compelling premium subscription service offering $59.99 / year 50% off first year subscription at $29.99 ~2.26M Subscribers1 • $150 USD off your next GoPro2 • Unlimited cloud backup + auto upload to cloud3 • 100 GB cloud storage of non-GoPro footage • Auto-highlight video • Up to 50% off accessories
Slide 18: Versatile Quik subscription for the mobile app
Versatile Quik subscription for the mobile app $9.99 / year ~167K Paid Subscribers1 • Import photos and videos from your phone, GoPro, or other camera • Unlimited cloud backup2 • Mural automatic video creation Powerful, simple mobile editing tool Video speed GoPro-exclusive filters Premium the
Slide 19: Marketing & Distribution
Speaker/ Date/ Subtitle Marketing & Distribution Copyright © 2026. GoPro, Inc. All rights reserved.
Slide 20: Multi-channel marketing strategy
Multi-channel marketing strategy CHANNEL CONNECTED TV GLOBAL MARKETING & ADVERTISING OWNED SOCIAL SOCIAL INFLUENCERS ATHLETES RESORTS TOP TIER EVENTS Copyright © 2026. GoPro, Inc. All rights reserved.
Slide 21: Global sales channel
Global sales channel GoPro.com1: 39% of Retail: 61% of 1Q26 Revenue 1Q26 Revenue GOPRO.COM OTHER ONLINE BIG BOX MID MARKET DISTRIBUTOR 2 >100 Countries 2 ~30k Point of Purchase Displays 1 Includes subscription & service revenue. 2 As of March 31, 2026. Copyright © 2026. GoPro, Inc. All rights reserv
Slide 22: Financial Highlights
Speaker/ Date/ Subtitle Financial Highlights Copyright © 2026. GoPro, Inc. All rights reserved.
Slide 23: Revenue and adjusted EBITDA
Revenue and adjusted EBITDA Revenue ($M) Adjusted EBITDA ($M) Quarterly Quarterly 1,161 168 1,094 1,005 95 801 652 (16) (27) (29) (25)* 134 99 (72) 2021 2022 2023 2024 2025 1Q25 1Q26 2021 2022 2023 2024 2025 1Q25 1Q26 *1Q26 Excludes a discrete $24.5 million charge related to certain component purcha
Slide 24: MSRP camera revenue mix
MSRP camera revenue mix1 Quarterly 75% 71% 75% 77% 76% 85% 90% 25% 29% 25% 23% 24% 15% 10% 2021 2022 2023 2024 2025 1Q25 1Q26 < $400 MSRP _ $400 MSRP > 1Sell-in camera revenue Copyright © 2026. GoPro, Inc. All rights reserved.
Slide 25: Subscriber metrics for 1Q26
Subscriber metrics Subscriber metrics for 1Q26 GoPro subscribers1 / Subscription & Service revenue2 ($M) 8% • Subscriber attach rate 51% 30 YoY Subscriber Decline • ARPU growth of 8% YoY 2,750 • Aggregate retention rate for annual subscribers 25 was 71% 2,250 20 • Subscribers down 8% YoY • Subscript
Slide 26: Appendix
Speaker/ Date/ Subtitle Appendix Copyright © 2026. GoPro, Inc. All rights reserved.
Slide 27: 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 profit, gross margin percentage, operating expenses, operating income (loss), tax expens
Slide 28: 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 29: 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
Slide 30: Appendix: GAAP to Non-GAAP reconciliations
Appendix: GAAP to Non-GAAP reconciliations ($ in thousands, except per share data) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 GAAP net loss $ (80,820) $ (9,104) $ (21,252) $ (16,422) $ (46,709) $ (37,191) $ (8,211) $ (47,821) $ (339,088) Stock-based compensation: Cost of
Slide 31: Appendix: GAAP to Non-GAAP reconciliations
Appendix: GAAP to Non-GAAP reconciliations ($ in thousands, except per share data) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 Numerator: GAAP net loss - Basic $ (80,820) $ (9,104) $ (21,252) $ (16,422) $ (46,709) $ (37,191) $ (8,211) $ (47,821) $ (339,088) GAAP net loss
Slide 32: Appendix: GAAP to Non-GAAP reconciliations
Appendix: GAAP to Non-GAAP reconciliations ($ in thousands) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 GAAP gross margin 4.3% 31.8% 35.1% 35.8% 32.1% 34.7% 35.5% 30.5% 34.1% Stock-based compensation 0.2 0.1 0.1 0.2 0.2 0.1 0.1 0.2 0.3 Restructuring and other costs — — —
Slide 33: Appendix: GAAP to Non-GAAP reconciliations
Appendix: GAAP to Non-GAAP reconciliations ($ in thousands) Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024 GAAP net loss $ (80,820) $ (9,104) $ (21,252) $ (16,422) $ (46,709) $ (37,191) $ (8,211) $ (47,821) $ (339,088) Income tax expense (benefit) 1,845 (1,693) 771 1,309 1,6
Slide 34: Thank you.
Speaker/ Date/ Subtitle Thank you. Copyright © 2026. GoPro, Inc. All rights reserved.