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Share Name | Share Symbol | Market | Type |
---|---|---|---|
GoPro Inc | NASDAQ:GPRO | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.06 | -3.39% | 1.71 | 1.71 | 1.72 | 1.80 | 1.71 | 1.80 | 687,194 | 16:50:03 |
|
Delaware
|
001-36514
|
77-0629474
|
(State or Other Jurisdiction
of Incorporation)
|
(Commission File No.)
|
(I.R.S. Employer
Identification No.)
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Class A common stock
|
GPRO
|
NASDAQ Global Select Market
|
•
|
The launch of two new cameras with significant performance improvements, the HERO8 Black and MAX, and three new accessory packages, the Media Mod, Display Mod, and Light Mod.
|
◦
|
HERO8 Black and MAX are available for preorder at GoPro.com with first shipments going out October 15 and global on-shelf availability beginning the week of October 20.
|
•
|
Due to a late stage production delay, HERO8 Black shipments will shift from the third quarter to the fourth quarter of 2019, resulting in a significant revenue shift between the quarters.
|
•
|
For the second half of 2019; the Company is revising guidance as follows:
|
◦
|
Revenue: $680 million to $715 million, representing 6% to 9% annual growth, which is below the Company’s previous estimated growth of between 9% to 12%;
|
◦
|
Non-GAAP gross margin: approximately 36.5%, +/- 50 basis points, compared to the Company’s previous estimate of 37.5% +/- 50 basis points due to several factors entirely related to the production delay;
|
◦
|
Non-GAAP operating expenses to be less than $200 million versus previous guide of $202 million +/- $3 million; and
|
◦
|
Non-GAAP EPS: $0.33 to $0.39 versus previous guide of $0.37 to $0.49.
|
•
|
Detailed financial information will be provided during the regularly scheduled third quarter earnings call in November 2019. The Company is currently expecting the following results for Q3 2019:
|
◦
|
Revenue to be approximately $125 million +/- $2 million and Non-GAAP net loss to be approximately $70 million +/- $5 million;
|
◦
|
End Q3 with cash and cash equivalents of approximately $80 million.
|
◦
|
Borrowing capacity under its Asset-Backed line of credit as of September 30 is approximately $90 million; and
|
◦
|
Expect to increase cash sharply during Q4 and to end the year with cash and cash equivalents of approximately $200 million.
|
•
|
For the full year 2019, the Company expects:
|
◦
|
2019 revenue to be in the range of $1.215 to $1.25 billion, representing growth of 6% to 9%;
|
◦
|
Non-GAAP EBITDA of $85 million +/- $5 million for 2019, a nearly 4x improvement over the $22 million the Company reported in 2018;
|
◦
|
2019 GAAP EPS $(0.02) to $(0.09) and Non-GAAP EPS $0.30 to $0.35, a significant improvement over Non-GAAP EPS of ($0.23) in 2018.
|
|
Second half of 2019
|
|
Full year 2019
|
||
GAAP net income (loss) per share
|
$0.16 - $0.22
|
|
|
$(0.02) - $(0.09)
|
|
Estimated adjustments for:
|
|
|
|
||
Stock-based compensation
|
0.12
|
|
|
0.27
|
|
Acquisition-related costs
|
0.03
|
|
|
0.05
|
|
Restructuring and other costs
|
—
|
|
|
0.01
|
|
Non-cash interest expense
|
0.03
|
|
|
0.06
|
|
Income tax adjustments
|
(0.01
|
)
|
|
(0.01
|
)
|
Non-GAAP net income per share
|
$0.33 - $0.39
|
|
|
$0.30 - $0.35
|
|
|
Second half of 2019
|
|
GAAP gross margin
|
35.0% - 36.0%
|
|
Estimated adjustments for:
|
|
|
Stock-based compensation
|
0.2
|
|
Acquisition-related costs
|
0.8
|
|
Restructuring and other costs
|
—
|
|
Non-GAAP gross margin
|
36.0% - 37.0%
|
|
(in thousands)
|
Full year 2019
|
||
GAAP operating expenses
|
$
|
425,200
|
|
Estimated adjustments for:
|
|
||
Stock-based compensation
|
(38,100
|
)
|
|
Acquisition-related costs
|
—
|
|
|
Restructuring and other costs
|
(2,100
|
)
|
|
Non-GAAP operating expenses
|
$
|
385,000
|
|
|
|
|
|
|
GoPro, Inc.
|
|
|
(Registrant)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dated:
|
October 2, 2019
|
By: /s/ Brian McGee
|
|
|
Brian McGee
Chief Financial Officer
(Principal Financial Officer)
|
1 Year GoPro Chart |
1 Month GoPro Chart |
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