GoPro Inc
Assessment
Our Rating
A journalistic assessment by our editorial team at the time of the deep dive — it rates the company, not the entry point. Not investment advice and not a solicitation to buy or sell.
We found at least one documented issue that threatens the company itself — regardless of how the stock is currently valued.
Why this colour
Red: several documented threats to the company itself come together. GoPro itself reports substantial doubt about its ability to continue as a going concern, equity was negative as of June 30, 2026, covenants were missed, and operations consumed cash in the first half of 2026 while cash shrank to $27.3 million. The Starman Optical merger could repay the debt but has not closed and is subject to conditions. Only the signed agreement argues for a milder rating; as long as it has not closed, our rule of doubt applies the more cautious level. The decision is yours.
What the thesis turns on
Assessment: Opportunities & Risks
GoPro has a strong brand but a shrinking business: revenue fell 40 percent from 2022 to 2025, and as of June 30, 2026, both equity and the going-concern assessment were negative. The Starman Optical merger agreed on September 1, 2026 offers $1.14 in cash plus 0.1 share per share but is subject to several conditions; founder Nicholas Woodman effectively decides whether it passes. At $1.19 (October 12, 2026), GoPro was worth about $245.6 million. Not investment advice.
Brand and products
World-famous camera brand with about 1,608 issued U.S. patents and 868 abroad (December 31, 2025); MISSION 1 and MAX2 lift average selling prices, and subscription revenue rose 10.6 percent to $29.0 million in Q2 2026.
Revenue and earnings
Revenue fell from $1,093.5 million (2022) to $651.5 million (2025) and another 28.9 percent in the first half of 2026; net loss of $131.8 million in the first half of 2026.
Balance sheet and liquidity
Going-concern disclosure since the 10-Q for March 31, 2026 (filed May 11, 2026), equity of minus $32.7 million and cash of $27.3 million (June 30, 2026); covenants missed, Wells Fargo facility to be repaid within 180 days of July 9, 2026.
Starman Optical merger
$1.14 in cash plus 0.1 share per GoPro share, with repayment of about $92 million of debt planned (September 1, 2026); open items are the working capital check, the funding commitment, antitrust clearance and the proxy statement.
Stockholder rights
Class A shares up 32 percent since the end of 2025, about 18 million of them documented as conversions; founder Woodman, with about 60.3 percent of the votes (June 30, 2026), is also a lender whose warrants are to be cashed out in the merger.
Worth Noting
This analysis was prompted by the merger announcement of September 1, 2026 and the price swing that followed (about 500 million shares traded on September 1; closing price $0.60 on August 28 and $1.70 on September 4, 2026; fundamental data). Our in-house stock scanner shows an Altman Z-score of −1.13 and a Piotroski score of 3 for GoPro (as of October 13, 2026). The analysis uses the image of the halo effect (a strong brand colors the judgment of the whole company).
Evidence base: the annual reports 10-K for 2025 (03/12/2026) and 2024 (03/17/2025), the quarterly reports 10-Q for 03/31/2026 and 06/30/2026 (08/10/2026, latest periodic report), the 8-Ks of 06/01, 07/08, 07/13, 07/24, 08/10 (earnings release), 08/18, 09/01, 09/02 (merger agreement), 09/08 and 09/17/2026, the DEFA14A communications of 09/01 and 09/04/2026 and Nicholas Woodman’s Schedule 13D of 09/09/2026. After 09/17/2026, GoPro filed nothing further through 10/13/2026; no merger proxy statement and no report for 09/30/2026 were available. Earnings call transcripts were not reviewed for this analysis; it rests on the filings and current reports.
Our calculations: market value (180,097,818 Class A shares as of 08/31/2026 per the merger agreement, cited in the Schedule 13D, plus 26,258,546 Class B shares as of 08/07/2026 per the 10-Q cover) = 206.4 million shares times $1.19 = $245.6 million, matching the fundamental data; dilution 180.1 versus 136.1 million Class A shares = up 32.3 percent; revenue decline 651.5 versus 1,093.5 million dollars = down 40.4 percent; Q1 2026 net loss = 131.8 minus 51.0 = $80.8 million; gap between price and cash amount 1.19 minus 1.14 = $0.05; Wells Fargo deadline July 9, 2026 plus 180 days = January 5, 2027. Class B share 26.26 of 206.36 million shares = 12.7 percent; 10 percent threshold with the Class B count unchanged = 262.6 million shares in total, i.e. 236.3 million Class A shares, about 56.2 million more than on 08/31/2026. Price-to-sales about 0.4 = 245.6 versus $568.6 million revenue for the last four quarters (fundamental data).
Risk of confusion: GoPro has two classes of stock; only Class A (GPRO) trades, while Class B with ten votes per share is not listed. “Starman Optical” is the merger subsidiary of Action Acquisitions LLC and, according to the press release, part of Starman Holding. The 69 percent subscription attach rate appears in the 10-Q for 06/30/2026 and in the earnings release of 08/10/2026; calling it a record and the roughly $2 million from the AI licensing program come only from the earnings release.
Stock Watch
This analysis is as of October 13, 2026. Stock Watch will tell you what's changed at GPRO since then.
Later $1 a month per stock — signing up is free, and you'll be the first to know when it launches.
Price history
Chart
Interactive price chart (TradingView).
52-week range: 0.575 $ to 1.90 $ · Last price: 0.6882 $ (As of: November 11, 2026)
Key figures
Key figures at a glance
Every figure we hold for this stock, grouped by topic. The question mark next to a label explains what the number means.
Basics
Performance
Technical Indicators
Calculated from the price history · as of 11/12/2026
Valuation
Profitability
Balance Sheet & Safety
Growth
Dividend
This stock currently pays no dividend.
Quality & Screener
Highlighted are things our editorial team noticed: green = stands out as strong, red = deserves a closer look. No single metric is a verdict on its own — always read it in context.
Comparison
Industry comparison
The stock alongside the largest companies in the same group. The median row is the middle value of the companies shown above — not of the whole industry.
Industry: Consumer Electronics
| Company | Market cap ($B) | P/E | EV/EBITDA | Gross Margin % | EBIT Margin % | Sales Growth (Year) % | Perf. 1Y % |
|---|---|---|---|---|---|---|---|
| GoPro Inc GPRO | 0.1 | – | 129.5 | 27.7 | -34.5 | -18.7 | -56.2 |
| Apple Inc AAPL | 5,222.8 | 43.7 | 29.1 | 48.8 | 32.3 | 6.4 | 29.6 |
| Sony Group Corp SONY | 155.2 | 22.5 | 8.4 | 33.5 | 16.7 | 2.1 | -8.5 |
| Xiaomi Corp ADR XIACY | 96.3 | 20.1 | 11.7 | 21.4 | 4.0 | 21.6 | -32.9 |
| Sonos Inc SONO | 2.3 | – | 14.2 | 45.0 | -9.1 | -4.9 | 1.4 |
| Turtle Beach Corporation TBCH | 0.3 | 797.3 | 17.2 | 37.6 | – | -14.2 | 7.2 |
| Vuzix Corp Cmn Stk VUZI | 0.2 | – | -1.1 | -9.6 | – | 9.1 | -29.1 |
| Universal Electronics Inc UEIC | 0.1 | – | 5.4 | 30.0 | – | -6.7 | 81.2 |
| Zepp Health Corporation ZEPP | 0.0 | – | -0.5 | 38.6 | -33.9 | 36.1 | -89.3 |
| Median of companies shown | 0.3 | 33.1 | 11.7 | 33.5 | -2.6 | 2.1 | -8.5 |
Based on the most recently reported figures. Only stocks from the same trading venue are lined up, so the market caps are counted in one currency. Compare in a chart →
Fiscal years
Annual Figures
Fiscal years from the audited annual reports, oldest first. EBIT is the operating profit before interest and taxes; total assets are everything the company owns.
Revenue, operating income and net income per fiscal year $M
Revenue Operating income Net income
| Fiscal Year | Revenue ($M) | EBIT ($M) | Net Income ($M) | EPS ($) | Operating Cash Flow ($M) | Equity ($M) | Total Assets ($M) |
|---|---|---|---|---|---|---|---|
| 2016 | 1,185 | -373 | -419 | -3.01 | -108 | 447 | 923 |
| 2017 | 1,180 | -163 | -183 | -1.32 | -37 | 299 | 850 |
| 2018 | 1,148 | -94 | -109 | -0.78 | -40 | 212 | 698 |
| 2019 | 1,195 | -2 | -15 | -0.10 | -24 | 234 | 793 |
| 2020 | 892 | -37 | -67 | -0.45 | 94 | 216 | 771 |
| 2021 | 1,161 | 113 | 371 | 2.27 | 229 | 616 | 1,260 |
| 2022 | 1,094 | 39 | 29 | 0.16 | 6 | 612 | 1,077 |
| 2023 | 1,005 | -75 | -53 | -0.35 | -33 | 556 | 968 |
| 2024 | 801 | -135 | -432 | -2.82 | -125 | 152 | 544 |
| 2025 | 652 | -60 | -93 | -0.59 | -21 | 77 | 428 |
Quarters
Quarterly Figures
Each bar is one quarter, the last one is the most recent. Use the switch to step through the individual figures.
Revenue & Profit
Cash Flow
Balance Sheet
Margins
Per Share
Click the chart or tab into it, then use ← and → to step through the periods.
None of the selected stocks reports this metric. Pick another metric or switch between annual and quarterly.
· Total · per year
These companies report in different currencies — switch on “Indexed” or pick a margin for a fair comparison.
The figures could not be loaded right now.
Source: fundamental data
| Quarter | EPS (Earnings Per Share) | EPS YoY (%) | Sales ($M) | Sales YoY (%) | Net Margin (%) | OCF ($M) | FCF ($M) |
|---|---|---|---|---|---|---|---|
| 2024: Q3 | -0.05 | -233.50 | 259 | -12.00 | -3.20 | -2 | -4 |
| 2024: Q4 | -0.09 | -550.00 | 201 | -32.00 | -18.50 | -25 | -26 |
| 2025: Q1 | -0.12 | 42.90 | 134 | -13.60 | -34.80 | -57 | -59 |
| 2025: Q2 | -0.08 | 66.70 | 153 | -18.00 | -10.80 | 9 | 8 |
| 2025: Q3 | -0.09 | -68.50 | 163 | -37.10 | -13.00 | 12 | 11 |
| 2025: Q4 | -0.02 | 77.80 | 202 | 0.40 | -4.50 | 16 | 15 |
| 2026: Q1 | -0.50 | -312.70 | 99 | -26.20 | -81.60 | -37 | -38 |
| 2026: Q2 | -0.23 | -187.50 | 105 | -31.30 | -48.60 | -11 | -12 |
What Do These Terms Mean?
- EPS (Earnings Per Share):
- Quarterly profit divided by the total share count — how much of the profit works out to a single share.
- YoY (Year over Year):
- Change versus the same quarter a year ago — this is how you compare without seasonal distortion (e.g. the holiday shopping season).
- Sales:
- All revenue for the quarter, before any costs are deducted — the top line of the income statement.
- Net Margin:
- What percentage of sales is left over as profit in the end. Negative means the company is posting a loss.
- OCF (Operating Cash Flow):
- The cash that actually flows into the till from the core business during the quarter — harder to dress up than book profit.
- FCF (Free Cash Flow):
- Operating cash flow minus capital expenditures — the money that's genuinely free to use, say for paying down debt, buybacks, or dividends.
Screening
Appears in These Scanners
This stock currently matches 7 of our scanner strategies — each hit links to the scanner.
Growth
Research
Risk & Weakness
- Bankruptcy Study: Stacked Warning Signals
- Below the 50- & 200-SMA
- Going Concern (Distress Proxy)
- Kathy Donnelly: Liquid Movers Down
Only genuine hits from verified scanners count; pure ranking metrics (P/E, P/S, and similar, which just sort the whole universe) don't count as a hit. Scanners marked in red are red-flag signals (risk/short scanners) — appearing there is not a seal of approval. View all scanners
Outlook
Analysts & Price Target
Combined picture of the price targets and recommendations of every analyst covering the stock. Price targets are expectations for the next 12 months, not promises — and they often follow the price rather than predict it.
Distribution of Recommendations
Estimates by Fiscal Year
| Fiscal Year | EPS Estimate ($) | EPS Range ($) | Revenue Estimate ($M) | Expected Growth | Analysts |
|---|---|---|---|---|---|
| 12/31/2026 | -0.72 | -0.72 – -0.72 | 543 | -140.0% | 1 |
| 12/31/2027 | -0.01 | -0.01 – -0.01 | 736 | 98.6% | 1 |
Average of the analyst estimates for the coming fiscal years. The range shows how far the most optimistic and the most cautious estimate sit apart — the wider it is, the less certain the expectation.
Valuation
What is priced in?
Free cash flow over the past twelve months is negative, which rules out a serious reverse calculation. Any growth rate only makes a negative cash flow more negative; no present value comes out of it. What the price reflects here is therefore not a stream of cash flows, but the expectation that there will be one at all.
A simplified model calculation — not a forecast and not a recommendation.
AI classification
AI Rating
Geprüft am 13.10.2026 gegen die Geschäftsberichte (10-K) für 2025 (eingereicht 12.03.2026) und 2024 (17.03.2025) sowie die Quartalsberichte (10-Q) zum 30.06.2026, 31.03.2026, 30.09.2025 und 30.06.2025: GoPro nennt künstliche Intelligenz im Geschäftsbericht 2025 und im Quartalsbericht zum 31.03.2026 als konkrete Ursache seiner Kostenkrise — die Nachfrage von KI-Rechenzentren hat einen weltweiten Mangel an Halbleitern und Speicher ausgelöst, die Speicherpreise stiegen in der letzten Märzwoche 2026 um 80 bis 115 Prozent, und genau diese Speicherkosten führt der Quartalsbericht als einen der Gründe für den Going-Concern-Hinweis an. Das ist kein allgemeiner Risikohinweis, sondern eine beschriebene, bezifferte Belastung des eigenen Kamera-Geschäfts. KI-Funktionen in Produkten (AI Object Tracking in der Quik-App) und ein freiwilliges Programm, über das US-Abonnenten ihre Videos für KI-Training bereitstellen, belegen zusätzlich einen KI-Einsatz; als eigene Umsatzquelle weisen die ausgewerteten 10-K/10-Q das Programm aber nicht aus (eine Umsatzangabe steht nur in der Ergebnismitteilung per 8-K und zählt nach dem Kriterienkatalog nicht). Nach der Vorrang-Regel (verkauft > bedroht > nutzt > neutral) ergibt das „bedroht“.
View the full file — quotes, sources, reviewed filings
„There has been a worldwide, unprecedented shortage of available semiconductor components due to the increase of demand by artificial intelligence data centers, which require substantially higher processing bandwidth and memory capacity, competition from other consumer products that use similar components as our cameras, and manufacturing capacity constraints, including back-end assembly and test."
Es gibt einen weltweiten, beispiellosen Mangel an verfügbaren Halbleiterbauteilen, weil die Nachfrage von Rechenzentren für künstliche Intelligenz gestiegen ist, die wesentlich mehr Rechenbandbreite und Speicherkapazität benötigen, wegen der Konkurrenz durch andere Verbraucherprodukte, die ähnliche Bauteile wie unsere Kameras verwenden, und wegen begrenzter Fertigungskapazitäten, auch bei Endmontage und Test.
10-K · 2026-03-12 · View SEC filing
„Memory component prices have increased sharply, including unexpected price increases ranging from 80% to 115% in the last week of March 2026."
Die Preise für Speicherbauteile sind stark gestiegen, einschließlich unerwarteter Preiserhöhungen zwischen 80 % und 115 % in der letzten Märzwoche 2026.
10-Q · 2026-05-11 · View SEC filing
„For example, in the third quarter of 2025, we launched an opt-in AI Training program that enables U.S. subscribers to monetize their GoPro cloud-based content by making it available to help train AI models."
So haben wir im dritten Quartal 2025 ein freiwilliges KI-Trainingsprogramm gestartet, mit dem US-Abonnenten ihre in der GoPro-Cloud gespeicherten Inhalte zu Geld machen können, indem sie sie für das Training von KI-Modellen bereitstellen.
10-K · 2026-03-12 · View SEC filing
Filings Reviewed: 10-Q 2026-08-10 · 10-Q 2026-05-11 · 10-K 2026-03-12 · 10-Q 2025-11-06 · 10-Q 2025-08-11 · 10-K 2025-03-17
Rated on October 13, 2026 · How the Rating Is Built
Growth
Growth Score
Ten checks against the annual reports — each one passed counts a point.
- Revenue grows by more than 15% a year over three years -15.9%
- More than 10% revenue growth is expected for the coming year -16.6%
- Share count grows by less than 3% a year -3.8%
- Revenue growth plus cash-flow margin add up to at least 40 ("Rule of 40") -22.4%
- Gross margin at 40% or higher and without meaningful erosion 33.6%
- Goodwill from acquisitions does not grow faster than revenue 31.3%
- Net debt below twice EBITDA failed
- Operating cash flow covers the profits of the last three years 400 m
- Return on capital at 15% or higher, or up versus two years ago -40.0%
- Insiders hold at least 10% or are net buyers 13.6%
A criterion without figures counts neither as passed nor as failed; a score is only produced from 7 judgeable criteria upwards. Source: fundamental data. All ten criteria in detail
Quality check
AAQS
2/10The AAQS (AlleAktien Quality Score) checks 10 quality criteria on growth, profitability, and balance-sheet strength — per the methodology developed and published by AlleAktien, calculated by us from our own fundamental data. A stock counts as a quality stock from 9 out of 10 points. Where a company has a shorter listing history, we calculate over the fiscal years available (at least five).
- Sales growth 10Y > 5% -6.4%
- Exp. sales growth 3Y > 5% 6.3%
- EBIT growth 10Y > 5% –
- Exp. EBIT growth 3Y > 5% 6.3%
- Net debt < 4x EBIT –
- EBIT positive, 10Y straight 2
- Max. EBIT decline < 50% 100.0%
- Return on equity > 15% –
- ROCE > 15% -39.9%
- Expected return > 10% -11.6%
View stocks with the full AAQS score · Read the methodology at AlleAktien
Source: fundamental data
Insiders
Insider Transactions
Reportable transactions by officers and major shareholders from SEC Form 4 filings. "Other" includes things like stock grants and option exercises without a buy/sell character.
| Date | Person | Role | Type | Shares | Price | Value |
|---|---|---|---|---|---|---|
| Aug 17, 2026 | Stephen Jason Christopher | SVP, General Counsel | Other | 1,317 | 0.6143 | 809 |
| Aug 17, 2026 | Tratt Brian Robert | SVP, Chief Financial Officer | Other | 2,871 | 0.6143 | 1,764 |
| Aug 17, 2026 | Lafrades Charles | Chief Accounting Officer | Other | 2,894 | 0.6143 | 1,778 |
The company
About the Company
GoPro, Inc. provides cameras, mountable and wearable accessories, and subscription and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It offers cameras under the HERO13 Black, HERO12 Black, LIT HERO, HERO, MAX2, and MAX names; and camera attachments, including the Ultra Wide Lens Mod, Macro Lens Mod, ND Filter 4-Pack, Anamorphic Lens Mod, Media Mod, and Max Lens Mod 2.0. The company also provides equipment-based mounts comprising helmet, handlebar, roll bar, and tripod mounts; floating mounts, such as the Handler and Floaty; magnetic swivel clip, chest harness, and head strap mounts; and spare batteries, dive filters and charging accessories, and cables to connect GoPro cameras to computers, laptops, and television monitors. In addition, it offers Premium, Premium+, and Quik subscription, which are subscription services that include cloud storage for its content through its Quik mobile app. Further, the company provides mobile and web applications, and desktop plugins that offer a media workflow for archiving, editing, multi-clip story creation, and sharing content on the fly; and a lifestyle gear lineup, including bags, backpacks, and cases, as well as of t-shirts, hats, and other soft goods. It sells its products through retailers, distributors, and on GoPro.com. The company was formerly known as Woodman Labs, Inc. and changed its name to GoPro, Inc. in February 2014. GoPro, Inc. was founded in 2002 and is headquartered in San Mateo, California.
- Employees
- 636
- Headquarters
- San Mateo, CA
- Address
- 3025 Clearview Way, 94402 San Mateo, United States
- Phone
- 650 332 7600
- Website
- gopro.com
- IPO Date
- 06/26/2014
- ISIN
- US38268T1034
Management
| Name | Title | Birth Year |
|---|---|---|
| Nicholas D. Woodman | Founder, CEO & Chairman | 1975 |
| Brian T. McGee C.M.A. | President & COO | 1960 |
| Dean Jahnke | Senior VP of Global Sales, Channel Marketing & Retail Experience | 1974 |
| Brian Tratt | Senior VP & CFO | 1984 |
| Charles Lafrades | Chief Accounting Officer | 1970 |
| Jason Christopher Stephen | Senior VP, General Counsel & Corporate Secretary | – |
| Robin Stoecker | Director of Corporate Communications | – |
| Rick Loughery | Senior Vice President of Global Marketing and Digital Commerce | – |
| Tim Betry | Senior Vice President of People & Places | – |
| Pablo Lema | Senior Vice President of Product Management | – |
Executives per the latest required filings; titles kept in their original language. Source: fundamental data.
Filings
Company Filings (8-K)
An 8-K is the filing a US company must use to disclose material events immediately — takeovers, changes at the top, major contracts or payment troubles, for instance. The links open the original document at the US Securities and Exchange Commission (SEC).
- 11/10/2026 GoPro, Inc. (GPRO): Results of Operations and Financial Condition; Financial Statements and Exhibits SEC ↗
- 10/16/2026 GoPro, Inc. (GPRO): Results of Operations and Financial Condition; Non-Reliance on Previously Issued Financial Statements or a Related Audit Report or Completed Interim Review; Other Events SEC ↗
- 09/17/2026 GoPro, Inc. (GPRO): Other Events; Financial Statements and Exhibits SEC ↗
- 09/08/2026 GoPro, Inc. (GPRO): Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant; Unregistered Sales of Equity Securities; Financial Statements and Exhibits SEC ↗
- 09/02/2026 GoPro, Inc. (GPRO): Entry into a Material Definitive Agreement; Financial Statements and Exhibits SEC ↗
- 09/01/2026 GoPro, Inc. (GPRO): Other Events; Financial Statements and Exhibits SEC ↗
- 08/18/2026 GoPro, Inc. (GPRO): Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers; Financial Statements and Exhibits SEC ↗
Data as of: November 11, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.