GoPro, Inc. · NASDAQ:GPRO
GoPro — Q4 2017 Earnings Presentation
13 slides from GoPro's earnings presentation, Feb 1, 2018
Slide 1: Q4 2017 Preliminary Earnings Results Summary
Q4 2017 Preliminary Earnings February 1, 2018 Results Summary
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. Forward-looking statements in this presentation may include, but are not limited to, expectations regarding our business
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 per share data) Q4 2017 Q3 2017 Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Revenue $ 334.8 $ 329.8 $ 296.5 $ 218.6 $ 540.6 $ 240.6 $220.8 $ 183.5 $436.6 Camera units shipped (in thousands) 1,361 1,144 1,061 738 2,284 1,0
Slide 5: Quarterly Revenue Metrics
QUARTERLY REVENUE METRICS ($ in millions) Q4 2017 Q3 2017 Q2 2017 Q1 2017 Q4 2016 Revenue by Channel: $ % of Rev $ % of Rev $ % of Rev $ % of Rev $ % of Rev Direct $ 179.4 53.6% $ 171.0 51.9% $ 169.7 57.2% $ 114.8 52.5% $ 290.3 53.7% Distribution 155.4 46.4 158.8 48.1 126.8 42.8 103.8 47.5 250.3 46.
Slide 6: Select Balance Sheet Metrics
SELECT BALANCE SHEET METRICS ($ in millions) Q4 2017 Q3 2017 Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 Cash, cash equivalents and marketable securities $ 247.4 $ 196.6 $ 149.8 $ 74.9 $ 218.0 $ 224.9 $ 279.2 $ 388.7 $ 474.1 Days sales outstanding 30 27 29 23 27 35 27 23 30 Inventory $ 1
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), diluted net inco
Slide 9: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ● adjusted EBITDA excludes the amortization of 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 non-GAAP net income (
Slide 10: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ● non-GAAP net income (loss) exclude non-cash interest expense. In connection with issuance of the Convertible Senior Notes in April 2017, we are required to recognize non-cash interest expense in accordance with the authoritative accounting guidance for co
Slide 11: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands, except per share data) Q4 2017 Q3 2017 Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 GAAP net income (loss) $ (55,848) $ 14,661 $ (30,536) $ (111,150) $ (115,709) $ (104,068) $ (91,767) $ (107,459) $ (34,451) Stock-based compensat
Slide 12: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) Q4 2017 Q3 2017 Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 GAAP gross margin 23.8% 39.6% 35.6% 31.4% 39.2% 40.3% 42.1% 32.5% 29.4% Stock-based compensation 0.2 0.1 0.1 0.2 0.1 0.2 0.2 0.2 0.1 Acquisition-related costs 0.7 0.4 0
Slide 13: Appendix: GAAP to Non-GAAP Reconciliations
APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) Q4 2017 Q3 2017 Q2 2017 Q1 2017 Q4 2016 Q3 2016 Q2 2016 Q1 2016 Q4 2015 GAAP net income (loss) $ (55,848) $ 14,661 $ (30,536) $ (111,150) $ (115,709) $ (104,068) $ (91,767) $ (107,459) $ (34,451) Income tax expense (benefit) (6,943) (10,844