GoPro Q2 2026 Earnings Report

GoPro EPS Results

• Actual EPS: -$0.21
• Consensus EPS: $0.02
• Beat/Miss: Missed by -$0.23
• One Year Ago EPS: N/A

GoPro Revenue Results

• Actual Revenue: $104.93 million
• Expected Revenue: $151.48 million
• Beat/Miss: Missed by -$46.54 million
• YoY Revenue Growth: N/A

GoPro Announcement Details

• Quarter: Q2 2026
• Date: 8/10/2026
• Time: After Market Closes
• Conference Call Date: Monday, August 10, 2026
• Conference Call Time: 5:00PM ET

GoPro (NASDAQ:GPRO) is a technology company that develops and sells cameras, accessories and software designed to help consumers and professionals capture and share photos and videos. Its products are commonly used for action sports, travel, outdoor recreation and other activities that benefit from compact, durable recording equipment.

The company’s product portfolio includes HERO cameras, MAX 360-degree cameras, camera mounts and other accessories. GoPro also offers the Quik mobile and desktop application, which provides tools for organizing, editing and sharing content. Its subscription services include features such as cloud storage, automatic content backup and editing capabilities.

GoPro was founded in 2002 by Nicholas Woodman and is headquartered in San Mateo, California. The company sells its products through its website, retail and distribution partners, and other sales channels in markets around the world. In addition to serving individual consumers, GoPro’s cameras and software are used by creators, athletes, outdoor enthusiasts and commercial customers.

GoPro Q2 2026 Earnings Call Transcript

Key Takeaways

• Neutral Sentiment: GoPro is in the later stages of evaluating a potential sale and other strategic alternatives, with interest reportedly coming from defense, consumer, and financial-sector parties. Management said the process is intended to maximize shareholder value but provided no further details.
• Positive Sentiment: GoPro launched its MISSION 1 and MISSION 1 PRO cameras in Q2 and plans to release the interchangeable-lens MISSION 1 PRO ILS in September. Management highlighted strong reviews, customer enthusiasm, expanding retail distribution, and the potential to grow its prosumer and professional-market share.
• Positive Sentiment: The GoPro Subscription attach rate reached a record 69%, up from 54% in the year-ago quarter, while retention remained 67%. Management emphasized that subscriptions provide high-margin recurring revenue and deepen customer relationships.
• Neutral Sentiment: GoPro continues expanding its ecosystem with new MISSION accessories, a Mission Monitor app, MAX2 firmware enhancements, and a technology-enabled AGV motorcycle helmet that has achieved ECE 22.06 safety compliance.
• Negative Sentiment: The company declined to provide additional financial guidance for the second half of 2026, citing the ongoing strategic review. Management said awareness-building and completing global retail distribution remain important to returning camera sell-through to positive territory.

Presentation

[Operator]

I will now hand the conference over to Robin Stoecker, Director of Corporate Communications. Robin, please go ahead.

[Robin Stoecker, Director of Corporate Communications at GoPro]

Thank you, Pascal. Good afternoon, and welcome to GoPro's second quarter 2026 earnings conference call. With me today are GoPro's CEO, Nicholas Woodman, and CFO, Brian McGee. Today's agenda will include brief commentary from Nick, followed by Q&A. For detailed information about our second quarter performance, please read our Q2 2026 earnings press release we've posted to the investor relations section of GoPro's website. Before I pass the call to Nick, I would like to remind everyone that our remarks today may include forward-looking statements. Forward-looking statements and all other statements that are not historical facts are not guarantees of future performance and are subject to a number of risks and uncertainties, which may cause actual results to differ materially. Additionally, any forward-looking statements made today are based on assumptions as of today.

[Robin Stoecker, Director of Corporate Communications at GoPro]

This means that results could change at any time, and we do not undertake any obligation to update these statements as a result of new information or future events. To better understand the risks and uncertainties that could cause actual results to differ from our commentary, we refer you to our most recent annual report on Form 10-K for the year ended December 31, 2025, which is on file with the Securities and Exchange Commission and other reports that we may file from time to time with the SEC. Today, we may discuss gross margin, operating expense, net profit and loss, adjusted EBITDA, as well as basic and diluted net profit and loss per share in accordance with GAAP and on a non-GAAP basis.

[Robin Stoecker, Director of Corporate Communications at GoPro]

A reconciliation of GAAP to non-GAAP operating expenses can be found in the press release that was issued this afternoon, which is posted on the investor relations section of our website. Unless otherwise noted, all income statement-related numbers that are discussed in the management commentary, other than revenue, are non-GAAP. Now, I will turn the call over to GoPro's founder and CEO, Nicholas Woodman.

[Nicholas Woodman, CEO at GoPro]

Thanks, Robin, and thanks everybody for joining us today. As Robin mentioned, for detailed information about our second quarter performance, please refer to our Q2 2026 earnings press release issued today and subsequent 10-Q filing. Today, I will share brief remarks that are focused on our products and the strategic initiatives we are driving forward. In May, GoPro's Board of Directors authorized a process to evaluate a potential sale of the company and other strategic alternatives aimed at maximizing shareholder value. The inquiries we have received span the defense, consumer, and financial sectors, and we are in the later stages of the process. As I have shared, this process has my full support. In Q2, we delivered the MISSION 1 series to the world.

[Nicholas Woodman, CEO at GoPro]

After debuting the three-camera lineup at the National Association of Broadcasters trade show in April, we opened pre-orders and began shipping our new MISSION 1 PRO and MISSION 1 cameras in May at gopro.com and through retail partners globally. These include Best Buy and Walmart, and specialized imaging retailers B&H and Adorama. With pricing starting at $499 for existing GoPro subscribers, we have made the world's most capable compact cinema cameras financially within reach for even budget-constrained creators. The MISSION 1 series has earned significant praise from consumers, critics, and the digital imaging industry at large. Multiple Editor's Choice Awards and strong recommendations from Tom's Guide, Gizmodo, PCMag, Mashable, Wired, Digital Camera World, and The Shortcut are just a few of the rave reviews our new cameras have received so far. Last week, we expanded our MISSION 1 series lineup with new special editions and capability-expanding accessories.

[Nicholas Woodman, CEO at GoPro]

The new MISSION 1 PRO Creator Edition is perfect for vloggers and creators who want an ultra-capable, complete professional camera system that is ready for any mission. The MISSION 1 PRO Ultimate Creator Edition is for filmmakers looking for maximum flexibility and the best of everything. It features GoPro's Fluid Pro AI gimbal for advanced stabilization and AI-driven subject tracking, plus the new suite of accessories we launched, including the Wireless Mic Complete Kit for professional audio, the Light Mod 2 for compact portable lighting, and the Media Mod for MISSION 1 Series for input-output port expansion. To share more on the new accessories, the Media Mod allows creators to plug in external monitors, microphones, and more to expand the professional capabilities of the MISSION 1 line.

[Nicholas Woodman, CEO at GoPro]

The Volta 2 battery grip provides up to nine hours of continual recording and convenient button controls in an ergonomic grip that also serves as a tripod. Then there is our Wireless Mic Complete Kit that frees creators from being tethered to the camera for professional-grade audio. It opens up a lot of creative possibilities, from run-and-gun vlogging to multi-camera shoots. The new MISSION 1 series special editions and the entire suite of accessories are available on gopro.com and at retailers globally later this month. For a limited time, customers can get $100 off MISSION 1, MISSION 1 PRO, and MISSION 1 PRO Grip Edition at gopro.com and retailers worldwide.

[Nicholas Woodman, CEO at GoPro]

We are also excited to share an update on the upcoming launch of the third camera in our MISSION 1 series lineup, MISSION 1 PRO ILS, a specialized camera for inspired enthusiasts and demanding professionals who desire the versatility of an interchangeable lens system that can match the breadth of their creative vision. MISSION 1 PRO ILS supports more than 300 readily available Micro Four Thirds lenses, along with GoPro's award-winning in-camera HyperSmooth video stabilization. The combination of HyperSmooth video stabilization with such a broad range of lens options in a small, durable 8K compact cinema camera has created enormous excitement and anticipation within the industry. They will only have to wait until next month to get their hands on it when MISSION 1 PRO ILS launches in September.

[Nicholas Woodman, CEO at GoPro]

MISSION 1 PRO ILS will offer several options for seeing a live preview from your camera, checking the focus of your shot, and previewing footage on a larger screen. One of those options is the new Mission Monitor app. It will deliver a live preview of your shot on your iPhone or iPad, plus professional monitoring tools, including composition overlays and remote camera control to frame, expose, and capture your cinematic vision perfectly. The Mission Monitor app will be available from the Apple App Store in September. With the launch of our new MISSION 1 series cameras, we have given creators more options and performance than ever before. From our tried and true cinematic and adventure lifestyle-driven HERO13 cameras, to the award-winning MAX2 360 camera, to the all-new MISSION 1 series built for professionals and prosumers, GoPro's camera offerings set the bar for adventure-fueled lifestyle and now cinema-grade capture.

[Nicholas Woodman, CEO at GoPro]

To make all of this hardware capability incredibly convenient, there is the GoPro Subscription. Being a GoPro subscriber means you get unlimited cloud storage of all your content uploaded automatically from your camera while it is charging. You will get the convenience of a powerful yet easy-to-use mobile editing app that you can edit your content directly in the cloud to avoid clogging up your phone with all those video files. You get you break it, we replace it, no questions asked camera protection, plus up to 50% off discounts at gopro.com, making being a GoPro owner a straightforward and rewarding experience. For our business, this results in a high-margin, recurring revenue subscription business that deepens our relationship with our customers and allows us to provide them increasing value as we continue to enhance the subscriber experience and benefits.

[Nicholas Woodman, CEO at GoPro]

Our subscribers appear to feel as positive about the GoPro Subscription as we do. Our subscriber attach rate was a record 69% in Q2, compared to 54% in the same period last year, and retention was 67%, consistent with previous performance. It is hugely rewarding to see such strong subscriber metrics, as it means subscribers value the passion, execution, and work our teams are putting into the service. Shifting gears, to further expand GoPro's presence in the motorcycle and greater motorsports markets, there is the tech-enabled motorcycle helmet we are developing with AGV, the leading Italian helmet brand. I am excited to report that the helmet's development remains on track, having recently achieved ECE 22.06 safety standard compliance, widely recognized as one of the most advanced and comprehensive street riding helmet safety standards. GoPro and AGV are each bringing something exciting to this joint development.

[Nicholas Woodman, CEO at GoPro]

AGV's legendary design and safety pedigree and GoPro's engineering and digital imaging expertise, and of course, the combined brand strength of the two companies. Together, we're building the future of motorcycle helmets, and I can tell you this, the helmet is absolutely stunning in every way, from its looks to its technical performance. Huge thanks to our friends at AGV and our GoPro employees who are making this brave new product possible. Your work is going to revolutionize the motorcycle helmet industry, and most importantly, excite and enable riders around the world. In June, we also released a major firmware update for MAX2, our award-winning 360 camera, adding a suite of professional image quality improvements and expanded creative controls. These include professional 10-bit color with GP-Log, increased 200 megabits per second bit rate in recording, and enhanced low light controls.

[Nicholas Woodman, CEO at GoPro]

MAX2 has been recognized as a best-in-class 360 camera by outlets including Wired, Tom's Guide, CNET, and PCMag, and its groundbreaking technology won GoPro its third Emmy Award for technology and engineering. As we shared in Q2, we expanded our camera lineup with the new MISSION 1 series and continued to make progress on our key initiatives, including our strategic review process. I am excited about what's ahead for GoPro. Operator, we are now ready for questions.

[Operator]

Thank you. We will now begin the question and answer session. Please limit yourself to one question and one follow-up. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. We ask that you pick up your handset when asking a question to allow for optimum sound quality. If you are muted locally, please remember to unmute your device. Please stand by while we compile the Q&A roster. Your first question comes from the line of Erik Woodring with Morgan Stanley. Erik, your line is open. Please go ahead.

[Erik Woodring, Equity Analyst at Morgan Stanley]

Thanks so much for taking my question, Nick, and congrats on the MISSION 1 launch. I know for a few quarters you'd been teasing the new camera launches. Obviously big to get those out. I was just wondering, if we take a step back, I think you probably have the broadest lineup of cameras in GoPro history, ranging not just within the action camera market, ranging from the HERO all the way up to the MISSION 1 PRO, and soon the MISSION 1 PRO ILS. Just, what do you think it takes to get sell-through back into positive territory now that you have all these product launches and, what would you say is kind of the biggest impediment to that at the moment? And then a quick follow-up, please. Thank you.

[Nicholas Woodman, CEO at GoPro]

Thanks, Erik. I think awareness driving is critical. We do have the most compelling products that we've had in the history of the company. After developing and launching those, comes the job of driving awareness. We're in the process of doing that, of course, the rave reviews help a ton. Most importantly is the success that our customers are having with our products and their endorsement through their own socially shared content. There's a very positive swell of support for GoPro and our products thanks to these new launches. There's a lot of love out there, you need only go and read what owners are saying about their MISSION cameras to see how excited they are about them. Of course, that's inspiring others to go out and buy them as well.

[Nicholas Woodman, CEO at GoPro]

There's a lot of anticipation for our interchangeable lens MISSION 1 camera, the MISSION 1 PRO ILS that's coming out in September. That actually garnered as much, if not more, enthusiasm from everyone when we debuted the cameras as the MISSION 1 and MISSION 1 PRO camera did. The idea of having an interchangeable lens GoPro has really sparked the imagination of creators and really hits a nerve with the more, or I should say, hits the mark with the more pro-minded users in our community, importantly, has the potential to expand GoPro's share in the prosumer and pro markets, attracting creators who maybe haven't considered using a GoPro before because we just didn't have the right camera for them.

[Nicholas Woodman, CEO at GoPro]

Now with an interchangeable lens system, we know that there's an enormous amount of enthusiasm amongst professional creators because of the added creative versatility and potential that an interchangeable lens camera provides. In addition to all that, it's continuing to roll the products out globally. We still don't have full distribution. We still are getting our new cameras into retailers around the world. We have pretty good distribution, but not full representation. That's also going to help as well. Things are looking good in terms of people's regard for the new line of GoPros, and continued launches later this year.

[Erik Woodring, Equity Analyst at Morgan Stanley]

Okay. I appreciate all that. Thank you, Nick. Maybe as just a follow-up, for Brian, just I know last quarter, because you were doing some of the strategic review, you had withdrawn your forward-looking guidance. Just, Brian, any commentary you can provide, at least as we look forward, whether that is how to think about margins or how to think about sell-through or just anything that can directionally help us think about what these new camera launches mean for results in the second half would be super. Thanks, guys.

[Brian McGee, CFO at GoPro]

Yeah. Thanks, Erik. I think as you can imagine, we withdrew guidance as we are going through our strategic process, and for that reason, we really cannot add extra color on top of our prepared remarks. So we will have to leave it there for this call.

[Erik Woodring, Equity Analyst at Morgan Stanley]

Okay. Understood. Thank you, guys.

[Nicholas Woodman, CEO at GoPro]

Thank you, Erik.

[Operator]

We have now reached the end of our Q&A. I will now turn the call back to management for closing remarks.

[Nicholas Woodman, CEO at GoPro]

Thank you, operator, and thank you everyone for joining today's call. To close, looking back at Q2, we expanded the performance and creative potential of our camera lineup with the launch of the MISSION 1 series of cameras and continue to make progress with our strategic review process that aims to maximize shareholder value. I am very proud of our team's execution, and I am very excited about our new and upcoming products as they further establish GoPro as one of the world's most exciting digital imaging companies and brands. Thanks everyone. This is Team GoPro signing off.

[Operator]

This concludes today's call. Thank you for attending. You may now disconnect.

Participants

Executives

• Robin Stoecker, Director of Corporate Communications
• Nicholas Woodman, CEO
• Brian McGee, CFO

Analysts

• Erik Woodring, Equity Analyst at Morgan Stanley