GoPro Q4 EPS Loss of $0.02 and Revenues $201.7M Miss Forecast
GoPro posted a fourth-quarter 2025 non-GAAP loss per share of $0.02, missing the $0.04 estimate, as revenues rose just 0.4% to $201.7 million versus a $220 million target. For Q1 2026, the company guides $100 million (±$5M) in revenue and 300,000–350,000 units.
1. Q4 Financial Results
GoPro reported a non-GAAP loss per share of $0.02 for Q4 2025, missing the $0.04 consensus. Revenues reached $201.7 million, up 0.4% year over year but 10.4% below the company’s $220 million forecast, with 625,000 camera units sold, a 19% decline.
2. Margin Improvement and Expense Reduction
Non-GAAP gross margin narrowed to 31.9% from 35.1% a year earlier after $20 million in tariff expenses. Operating expenses fell 26% to $72.4 million, cutting the non-GAAP operating loss to $2.5 million from $16 million and delivering $0.8 million of adjusted EBITDA.
3. Cash Flow and Liquidity Position
GoPro generated $15.6 million of net cash from operations in Q4 2025, compared with a $25.1 million cash burn a year ago. The company ended the quarter with $49.7 million in cash and cash equivalents, reflecting improved cash flow and cost controls.
4. Q1 and Full-Year 2026 Guidance
For Q1 2026, GoPro expects $100 million (±$5M) in revenue, 300,000–350,000 unit sell-through and a non-GAAP loss of $0.20 per share, with gross margin of ~33% and operating expenses of $62 million. Full-year 2026 revenue is forecast at $750–800 million, operating expenses of $220–230 million and adjusted EBITDA of $10–20 million.