GoPro, Inc. · NASDAQ:GPRO

GoPro — Q3 2022 Earnings Presentation

15 slides from GoPro's earnings presentation, Nov 3, 2022

  1. Slide 1: Q3 2022 Preliminary Earnings Results Summary

    Q3 2022 Preliminary Earnings Results Summary November 3, 2022 Confidential information. Copyright © 2022. 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. We additionally report non-GAAP adjusted EBITDA. Rev

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

    QUARTERLY NON-GAAP INCOME STATEMENT SUMMARY ($ in millions, except per share data) Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Revenue $ 305.1 $ 250.7 $ 216.7 $ 391.1 $ 316.7 $ 249.6 $ 203.7 $ 357.8 $ 280.5 Camera units shipped (in thousands) 797 640 523 1,033 832 724 556

  5. Slide 5: Quarterly Revenue Metrics

    QUARTERLY REVENUE METRICS ($ in millions) Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Revenue by Channel: $ % of Rev $ % of Rev $ % of Rev $ % of Rev $ % of Rev GoPro.com $ 98.6 32.3 % $ 95.3 38.0 % $ 88.6 40.9 % $ 127.8 32.7 % $ 94.4 29.8 % Retail 206.5 67.7 155.4 62.0 128.1 59.1 263.3 67.3 222.3 70.2

  6. Slide 6: Select Balance Sheet Metrics

    SELECT BALANCE SHEET METRICS ($ in millions) Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Cash, cash equivalents, restricted cash and marketable securities $ 348.8 $ 322.5 $ 449.9 $ 538.9 $ 378.5 $ 318.7 $ 296.8 $ 327.7 $ 146.9 Days sales outstanding 25 32 29 26 28 35 30 2

  7. Slide 7: GoPro Subscription

    GOPRO SUBSCRIPTION Confidential information. Copyright © 2022. GoPro, Inc. All rights reserved. 7

  8. Slide 8: Appendix

    Appendix Speaker/ Date/ Subtitle APPENDIX Confidential information. Copyright © 2022. 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) Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 GAAP net income (loss) $ 17,570 $ 2,519 $ 5,685 $ 52,626 $ 311,761 $ 16,952 $ (10,168) $ 44,413 $ 3,307 Stock-based compensation: Cost of revenue

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

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands, except per share data) Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 Numerator: GAAP net income (loss) - Basic $ 17,570 $ 2,519 $ 5,685 $ 52,626 $ 311,761 $ 16,952 $ (10,168) $ 44,413 $ 3,307 Add: Interest on conve

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

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 GAAP gross margin 38.0% 38.3% 41.8% 41.2% 43.6% 39.8% 38.6% 38.0% 35.4% Stock-based compensation 0.2 0.2 0.2 0.1 0.2 0.2 0.2 0.1 0.2 Acquisition-related costs — — — — —

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

    APPENDIX: GAAP TO NON-GAAP RECONCILIATIONS ($ in thousands) Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021 Q2 2021 Q1 2021 Q4 2020 Q3 2020 GAAP net income (loss) $ 17,570 $ 2,519 $ 5,685 $ 52,626 $ 311,761 $ 16,952 $ (10,168) $ 44,413 $ 3,307 Income tax expense (benefit) 5,960 110 (51) (392) (270,228) (11,

GoPro — Q3 2022 Earnings Presentation on 6ix