Summary by Moomoo AI
GoPro reported Q2 2024 revenue of $186 million, exceeding guidance but down 23% YoY. Subscription and service revenue grew 8% YoY to $26 million, with subscriber base increasing 4% YoY to 2.53 million. The company's retail channel generated $137 million in revenue while GoPro.com contributed $49 million.Financial results showed GAAP net loss of $48 million ($0.31 per share) compared to $17 million loss year ago. Gross margin was 30.5% GAAP and 30.7% non-GAAP. Cash and marketable securities remained flat sequentially at $133 million, with inventory reduction ahead of new product launches.The company announced plans to launch two new products in September - an enhanced flagship HERO13 Black camera and a new $199 entry-level HERO camera with entirely new design. Additionally, GoPro expanded its presence through a partnership with SoftBank Group's SB C&S Corporation for distribution in Japan and implemented a large-scale merchandising rollout program at Best Buy.
