SAN MATEO, Calif. (BRAIN) — GoPro Inc. fourth-quarter revenue declined 8% year-over-year as did its 2023 revenue despite camera sell-through increases in the second half of the year.
Quarterly revenue was $295 million, compared with $321 million year-over-year. For the year it was $1.0 billion, compared with $1.09 billion in 2022.
"We're looking forward to launching several new products throughout the year, opening more retail doors at a steady rate, and activating a larger number of marketing initiatives to drive awareness and demand," said Nicholas Woodman, GoPro founder and CEO.
First-quarter GAAP net income loss was $2 million (negative $0.02 per share) compared with $3 million ($0.02 per share) in the prior year period. For the year, GAAP net loss was $53 million (negative $0.35 per share), compared with $29 million ($0.18) per share year-over-year.
For the year, GoPro reported subscription and service revenue increased 18% ($97 million) compared with 2022.
The camera brand announced last month plans to acquire Forcite Helmet Systems, an Australian tech-enabled motorcycle helmet manufacturer.
GoPro's corporate headquarters are in San Mateo. Its stock is traded on NASDAQ under the GPRO symbol. GoPro stock quote at Marketwatch.com.
