GoPro unable to file Q3 10-Q on time, cites covenant noncompliance
GPRO•GoPro said it needs more time to complete its third-quarter financial close and is seeking lender waivers after breaching financing covenants. It expects Q3 revenue of about $96 million, gross margin of 12.7% and operating expenses of about $60 million, and said its financial statements will reflect substantial doubt about its ability to continue as a going concern for the next 12 months.
1. Filing delay and covenants
GoPro said it cannot file its Form 10-Q for the quarter ended September 30, 2026, on time because it needs additional time to complete financial close procedures. The company is seeking waivers from lenders over financing covenant noncompliance; without waivers, lenders could accelerate repayment of its debt.
2. Quarterly estimates
GoPro expects third-quarter net revenue of approximately $96 million, gross margin of about 12.7% and operating expenses of approximately $60 million. Its Q3 financial statements are expected to reflect substantial doubt about its ability to continue as a going concern for the next 12 months. GoPro said accelerated debt repayment could prevent it from meeting a pending merger closing condition.
