GoPro Q4 Revenue $202M Misses Guidance, Scores $41M YoY Cash Flow Gain
GoPro reported Q4 revenue of $202 million, missing guidance of $220 million +/- $5 million, while delivering positive operating cash flow for the third straight quarter with a $41 million year-over-year improvement. It launched the GP3 processor and an AI Training program to monetize user-generated content for high-margin AI model training.
1. Q4 2025 Financial Results
GoPro reported Q4 2025 revenue of $202 million, below the guidance range of $220 million +/- $5 million. The quarter delivered $16 million of operating cash flow, marking the third consecutive quarter of positive cash generation and driving a $41 million year-over-year improvement, alongside $1 million of adjusted EBITDA.
2. Fiscal 2025 Operational Improvements
For fiscal 2025, the company achieved a $93 million reduction in operating expenses, maintained gross margins at 34% despite a $20 million tariff headwind, and reduced inventory levels by 35%, strengthening the balance sheet and operational efficiency.
3. AI Training Program and Product Innovations
GoPro made substantial progress with its AI Training program, enabling users to monetize content for high-margin AI model training. The company also unveiled the GP3 processor, boosting power efficiency and low-light performance, and expanded its hardware lineup with the MAX2 360 and LIT HERO cameras, plus a tech-enabled AGV motorcycle helmet.
4. 2026 Financial Outlook
Looking to 2026, GoPro projects revenue of $750 million to $800 million, operating expenses of $220 million to $230 million and adjusted EBITDA of $10 million to $20 million, driven by new product launches and the scaling AI content licensing business.