GoPro Narrows Q4 Net Loss to $9M, Cuts Expenses 26% Ahead of GP3 Launch
GoPro posted Q4 revenue of $202 million, flat year-over-year, and full-year 2025 revenue of $652 million, down 19%, while narrowing Q4 GAAP net loss to $9 million from $37 million. The company cut operating expenses by 26% and will launch its AI-enabled GP3 processor in Q2 2026.
1. Q4 2025 Financial Results
In Q4 2025 GoPro generated $202 million in revenue, flat year-over-year, with camera sell-through of approximately 625,000 units, down 19%. Subscription and service revenue was $27 million, down 3%, while GAAP gross margin declined to 31.8% and non-GAAP gross margin to 31.9%. GAAP net loss narrowed to $9 million, or $0.06 per share, compared with a $37 million loss a year earlier, and adjusted EBITDA turned positive $1 million.
2. Full-Year 2025 Performance
For full-year 2025 GoPro reported $652 million in revenue, down 19% on sell-through of roughly 2 million cameras, down 20%. Subscription revenue held at $106 million, down 1%. GAAP gross margin was 33.6% and non-GAAP margin 33.8%. GAAP net loss improved to $93 million from $432 million, non-GAAP loss narrowed to $48 million, and adjusted EBITDA loss shrank to $29 million. Operating expenses were cut by $93 million (26%), driving a $104 million increase in operating cash flow.
3. GP3 Processor Launch
GoPro will introduce its next-generation GP3 AI-enabled image processor in Q2 2026, powering a new premium camera lineup. The GP3 platform is designed to deliver category-leading image quality and processing performance, expand total addressable market and reinforce GoPro’s leadership in digital imaging.