Gopro, Inc. · NASDAQ:GPRO

Gopro — Q3 2024 Earnings Presentation

15 slides from Gopro's earnings presentation, Nov 7, 2024

1. Slide 1: Q3 2024 Preliminary Earnings Results Summary

   Q3 2024 Preliminary Earnings Results Summary November 7, 2024 Copyright © 2024. GoPro, Inc. All rights reserved.

2. 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

3. 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. We additionally report non-GAAP adjusted EBITDA. We

4. Slide 4: Quarterly Non-GAAP Income Statement Summary

   QUARTERLY NON-GAAP INCOME STATEMENT SUMMARY ($ in millions, except per share data) Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Revenue $ 258.9 $ 186.2 $ 155.5 $ 295.4 $ 294.3 $ 241.0 $ 174.7 $ 321.0 $ 305.1 Camera units shipped (in thousands) 881 576 393 895 923 704 462 8

5. Slide 5: Quarterly Revenue Metrics

   QUARTERLY REVENUE METRICS ($ in millions) Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Revenue by Channel: $ % of Rev $ % of Rev $ % of Rev $ % of Rev $ % of Rev GoPro.com $ 51.0 19.7 % $ 49.1 26.4 % $ 49.2 31.6 % $ 67.4 22.8 % $ 63.3 21.5 % Retail 207.9 80.3 137.1 73.6 106.3 68.4 228.0 77.2 231.0 78.5 T

6. Slide 6: Select Balance Sheet Metrics

   SELECT BALANCE SHEET METRICS ($ in millions) Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Cash, cash equivalents, restricted cash and marketable securities $ 130.2 $ 133.0 $ 133.7 $ 246.6 $ 259.5 $ 271.7 $ 294.6 $ 367.3 $ 348.8 Days sales outstanding 46 42 40 28 33 31 29 2

7. Slide 7: Subscription

   SUBSCRIPTION Copyright © 2024. GoPro, Inc. All rights reserved. 7

8. Slide 8: Appendix

   Appendix Speaker/ Date/ Subtitle APPENDIX Copyright © 2024. GoPro, Inc. All rights reserved. Confidential information. Copyright © 2019. GoPro, Inc. All rights reserved.

9. Slide 9: 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), net income

10. Slide 10: 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

11. Slide 11: Appendix: GAAP to Non-GAAP Reconciliations

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ● non-GAAP net income (loss) includes income tax adjustments. In the first quarter of 2024, we revised our income tax adjustments to reflect the current and deferred income tax expense (benefit) and the effect of non-GAAP adjustments to better align with SE

12. Slide 12: Appendix: GAAP to Non-GAAP Reconciliations

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands, except per share data) Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 GAAP net income (loss) $ (8,211) $ (47,821) $ (339,088) $ (2,418) $ (3,684) $ (17,212) $ (29,869) $ 3,073 $ 17,570 Stock-based compensation: Cost

13. Slide 13: Appendix: GAAP to Non-GAAP Reconciliations

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands, except per share data) Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 Numerator: GAAP net income (loss) - Basic $ (8,211) $ (47,821) $ (339,088) $ (2,418) $ (3,684) $ (17,212) $ (29,869) $ 3,073 $ 17,570 Add: Intere

14. Slide 14: Appendix: GAAP to Non-GAAP Reconciliations

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 GAAP gross margin 35.5% 30.5% 34.1% 34.2% 32.0% 31.4% 30.0% 32.5% 38.0% Stock-based compensation 0.1 0.2 0.3 0.2 0.2 0.3 0.3 0.1 0.2 Restructuring and other costs — — —

15. Slide 15: Appendix: GAAP to Non-GAAP Reconciliations

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) Q3 2024 Q2 2024 Q1 2024 Q4 2023 Q3 2023 Q2 2023 Q1 2023 Q4 2022 Q3 2022 GAAP net (loss) income $ (8,211) $ (47,821) $ (339,088) $ (2,418) $ (3,684) $ (17,212) $ (29,869) $ 3,073 $ 17,570 Income tax expense (benefit) 2,083 1,333 298,209 (2,9

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