The following is a summary of the GoPro, Inc. (GPRO) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 revenue reached $259 million, exceeding guidance.

• Subscription and service revenue grew 11% year-over-year to $27.5 million, primarily driven by ARPU growth of 9% and total subscriber growth of 2%.

• EBITDA for Q3 was $5 million, a $39 million improvement sequentially.

• Operating expenses will decrease significantly to approximately $250 million in 2025, compared to $360 million in 2024.

Business Progress:

• GoPro's business strategy includes defending intellectual property (IP), reducing operating expenses, and launching new products to boost profitability.

• Responding to business challenges, GoPro plans a leaner operational model while focusing on strategic initiatives.

• Global retail expansion continues, increasing total retail presence to over 25,000 doors, despite macroeconomic and competitive challenges.

• Launched HERO 13 Black and entry-level HERO camera, both designed to yield better profit margins.

Opportunities:

• Operating model adjustments expected to yield improved financial results.

• Product innovation remains strong; for example, readying a new 360-degree camera for launch in 2025, aimed at maintaining relevance in growing market sectors.

Risks:

• Macroeconomic headwinds and strong competition are impacting revenue forecasts and operational structure.

• Delays in new product launches, particularly the 360-degree camera, pose potential threats to market share and revenue growth.

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