GoPro, Inc. · NASDAQ:GPRO

GoPro — Q1 2021 Earnings Presentation

14 slides from GoPro's earnings presentation, May 6, 2021

1. Slide 1: Q1 2021 Preliminary Earnings Results Summary

   Q1 2021 Preliminary Earnings Results Summary May 6, 2021 Confidential information. Copyright © 2021. 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” and variations of these terms or

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. Additionally, we 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) Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Revenue $ 203.7 $ 357.8 $ 280.5 $ 134.2 $ 119.4 $ 528.3 $ 131.2 $ 292.4 $ 242.7 Camera units shipped (in thousands) 556 1,108 923 448 341 1,857 4

5. Slide 5: Quarterly Revenue Metrics

   QUARTERLY REVENUE METRICS ($ in millions) Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Revenue by Channel: $ % of Rev $ % of Rev $ % of Rev $ % of Rev $ % of Rev Gopro.com* $ 82.1 40.3 % $ 116.4 32.5 % $ 81.3 29.0 % $ 59.5 44.3 % $ 25.3 21.2 % Retail 121.6 59.7 241.4 67.5 199.2 71.0 74.7 55.7 94.1 78.8 T

6. Slide 6: Select Balance Sheet Metrics

   SELECT BALANCE SHEET METRICS ($ in millions) Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 Cash, cash equivalents, restricted cash and marketable securities $ 296.8 $ 327.7 $ 146.9 $ 79.7 $ 124.9 $ 165.1 $ 79.0 $ 130.1 $ 133.3 Days sales outstanding 30 27 34 46 38 34 49 45

7. Slide 7: GoPro Subscription

   GOPRO SUBSCRIPTION Confidential information. Copyright © 2021. GoPro, Inc. All rights reserved. 7

8. Slide 8: Appendix

   Appendix Speaker/ Date/ Subtitle APPENDIX Confidential information. Copyright © 2021. 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 margin, operating expenses, operating income (loss), net income (loss), diluted net inco

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) 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

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

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands, except per share data) Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 GAAP net income (loss) $ (10,168) $ 44,413 $ 3,307 $ (50,975) $ (63,528) $ 95,820 $ (74,810) $ (11,287) $ (24,365) Stock-based compensation: Cost

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

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 GAAP gross margin 38.6 % 38.0 % 35.4 % 30.3 % 32.2 % 38.2 % 21.7 % 34.9% 33.1% Stock-based compensation 0.2 0.1 0.2 0.2 0.4 0.1 0.3 0.2 0.2 Acquisition-related costs 0.

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

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) Q1 2021 Q4 2020 Q3 2020 Q2 2020 Q1 2020 Q4 2019 Q3 2019 Q2 2019 Q1 2019 GAAP net income (loss) $ (10,168) $ 44,413 $ 3,307 $ (50,975) $ (63,528) $ 95,820 $ (74,810) $ (11,287) $ (24,365) Income tax expense (benefit) 1,219 116 1,242 1,069 2,

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