Q1 2026 GoPro Inc Earnings Call
Speaker #1: First quarter 2026 earnings conference call. After today's prepared remarks, we will host a question-and-answer session. If you would like to ask a question, please press star 1 to raise your hand.
Speaker #1: To withdraw your question, press star 1 again. I will now hand the conference over to Robin Stoecker, Director of Corporate Communications, please go ahead.
Speaker #2: Thank you, Rebecca. Good afternoon and welcome to GoPro's first quarter 2026 earnings conference call. With me today are GoPro CEO, Nicholas Woodman, CFO, Brian Trapp, and President and COO, Brian McGee.
Speaker #2: Today's agenda will include brief commentary from Nick and Brian, followed by Q&A. For detailed information about our first quarter performance, please read our Q1 2026 earnings press release and management commentary we've posted to the Investor Relations section of GoPro's website.
Speaker #2: Before I pass the call to Nick, I'd 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 guaranteed to future performance and are subject to a number of risks and uncertainties which may cause actual results to differ materially.
Speaker #2: Additionally, any forward-looking statements made today are based on assumptions as of today. 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.
Speaker #2: 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 31st, 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.
Speaker #2: Today, we may discuss growth margins, 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.
Speaker #2: 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.
Speaker #2: Unless otherwise noted, all income statement-related numbers that are disclosed in the management commentary other than revenue are non-GAAP. Now, I'll turn the call over to GoPro's founder and CEO, Nicholas Woodman.
Speaker #3: Thanks, Robin, and thanks, everybody, for joining us today. As Robin mentioned, Brian and I will share brief remarks before going into Q&A. And I want to encourage all on the call to read the detailed management commentary we posted on our Investor Relations website.
Speaker #3: In April, we announced that GoPro is formally exploring opportunities in the defense and aerospace sector, having engaged Oliver Wyman, a global leader in defense sector consulting, to assess addressable market segments, product synergies, and go-to-market strategies.
Speaker #3: GoPro cameras have long been used in demanding defense, government, and aerospace applications where versatility, durability, industry-leading video stabilization, and image quality are mission-critical. And we believe there is a meaningful, scalable opportunity to formalize and grow our presence in these sectors.
Speaker #3: Following the April announcement of our work with Oliver Wyman, we received several inbound inquiries related to M&A. To capitalize on this interest, GoPro's board of directors, as authorized the company to engage in a strategic process and to engage a financial advisor to assist with that process in evaluate strategic alternatives, in order to maximize shareholder value.
Speaker #3: We believe there is unrealized value in GoPro's technology, IP, brand, product development, and scaled manufacturing capabilities. And we look forward to exploring how M&A could unlock that value to the benefit of our shareholders.
Speaker #3: Testament to GoPro's credibility as a mission-proven tool for defense and aerospace applications, is NASA's use of GoPro cameras on the Artemis II mission. On April 1st, the Orion spacecraft launched with modified GoPro cameras mounted externally on its solar array wings.
Speaker #3: And off-the-shelf GoPro cameras were used inside the ship to capture content for a National Geographic documentary about the mission. Everyone at GoPro is deeply honored that our cameras played even a small role in the historic Artemis II mission.
Speaker #3: It's incredibly meaningful to all of us. Turning to Q1, we advanced several partnership initiatives designed to broaden GoPro's reach and appeal. In January, we announced an exciting partnership with ASUS, a leading Taiwanese multinational technology company and launched a co-branded ASUS ProArt GoPro edition laptop.
Speaker #3: The laptop was purpose-built by ASUS to support GoPro content creator workflows. ASUS has shared that early traction has far exceeded their expectations for the ProArt line, reinforcing the strength of GoPro's brand in technology collaborations.
Speaker #3: And in March, we announced our partnership with Dix Sporting Goods, an integration with their Game Changer app, the number one rated youth sports app for scorekeeping and live streaming.
Speaker #3: Which has more than 9 million active users. This partnership combines GoPro's industry-leading video quality with Game Changer's live streaming service, making it easy for families to capture and share game day, live.
Speaker #3: The Game Changer GoPro product bundle, available online at Dix Sporting Goods, brings together everything families need for seamless, high-quality live streaming of the game.
Speaker #3: Millions of existing GoPro HERO13 through HERO7 Black and Max owners can now pair the GoPro they already own with the game day app to start streaming live sporting events.
Speaker #1: Guarantees the future performance and are subject to a number of risk and uncertainties which may cause actual results to differ materially. Additionally, any forward-looking statements made today are based on assumptions as of today.
Speaker #1: GoPro cameras mounted externally on its solar array wings. And off-the-shelf GoPro cameras were used inside the ship to capture content for a national geographic documentary about the mission.
Speaker #3: And just last month, we debuted our new Mission 1 series of professional 8K and 4K open gate compact cinema cameras at the National Association of Broadcasters trade show.
Speaker #1: Everyone at GoPro is deeply honored that our cameras played even a small role in the historic Artemis II mission. It's incredibly meaningful to all of us.
Speaker #1: 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.
Speaker #1: 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 31st, 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.
Speaker #3: The largest television industry trade show in the US. The launch of the Mission 1 series marks GoPro's most and prosumer creator markets. Featuring a new 50-megapixel one-inch sensor, and GoPro's new ultra-efficient next-generation GP3 processor, the Mission 1 series cameras deliver category-leading resolutions, frame rates, run times, and thermal performance for mission-critical reliability in extreme use cases.
Speaker #1: Turning to Q1, we advanced several partnership initiatives designed to broaden GoPro's reach and appeal. In January, we announced an exciting partnership with ASUS, a leading Taiwanese multinational technology company and launched a co-branded ASUS ProArt GoPro edition laptop.
Speaker #1: Today, we may discuss gross margins, 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.
Speaker #1: The laptop was purpose-built by ASUS to support GoPro content creator workflows. ASUS has shared that early traction has far exceeded their expectations for the ProArt line, reinforcing the strength of GoPro's brand in technology collaboration.
Speaker #1: 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.
Speaker #3: The new lineup includes three camera models: Mission 1 Pro, Mission 1 Pro ILS, and Mission 1. The response to our Mission 1 series of products has been overwhelmingly positive.
Speaker #1: And in March, we announced our partnership with Dix Sporting Goods, an integration with their Game Changer app, the number one rated youth sports app for scorekeeping and live streaming.
Speaker #1: Unless otherwise noted, all income statement-related numbers that are disclosed in the management commentary other than revenue are non-GAAP. Now, I'll turn the call over to GoPro's founder and CEO, Nicholas Woodman.
Speaker #3: Recent press coverage has consistently highlighted the cameras' industry-leading specs, image quality, compact and durable design, plus the outright performance and value the cameras deliver relative to dramatically more expensive cinema cameras.
Speaker #1: Which has more than 9 million active users. This partnership combines GoPro's industry-leading video quality with Game Changer's live streaming service, making it easy for families to capture and share game day live.
Speaker #2: Thanks, Robin, and thanks, everybody, for joining us today. As Robin mentioned, Brian and I will share brief remarks before going into Q&A. And I want to encourage all on the call to read the detailed management commentary we posted on our Investor Relations website.
Speaker #3: At the NAB show, our new cameras earned three prestigious awards from leading industry outlets. One of six Red Shark Best in Show awards. One of 10 production hub awards of excellence.
Speaker #1: The Game Changer GoPro product bundle available online at Dix Sporting Goods brings together everything families need for seamless, high-quality live streaming of the game.
Speaker #2: In April, we announced that GoPro is formally exploring opportunities in the defense and aerospace sector, having engaged Oliver Wyman, a global leader in defense sector consulting, to assess addressable market segments, product synergies, and go-to-market strategy.
Speaker #3: And the Mission 1 Pro ILS was the sole winner. Of the CineD Best of Show award in the camera category. These awards go to all of GoPro's employees whose dedication and passion made the Mission 1 series cameras possible.
Speaker #1: Millions of existing GoPro HERO13 through HERO7 Black and Max owners can now pair the GoPro they already own with the game day app to start streaming live sporting events.
Speaker #2: GoPro cameras have long been used in demanding defense, government, and aerospace applications, where versatility and durability industry-leading video stabilization and image quality are mission-critical.
Speaker #1: And just last month, we debuted our new Mission 1 series of professional 8K and 4K open gate compact cinema cameras at the National Association of Broadcasters trade show.
Speaker #3: Thank you, team, and congratulations. We expect the Mission 1 series products to enable GoPro to gain meaningful share in our core markets as well as in new professional and prosumer markets.
Speaker #2: And we believe there is a meaningful, scalable opportunity to formalize and grow our presence in these sectors. Along the April announcement of our work with Oliver Wyman, we received several inbound inquiries related to M&A.
Speaker #3: The Mission 1 series products will be available May 28th at GoPro.com and select authorized retail partners globally including Best Buy and Walmart and high-end imaging retailers B&H and Adorama.
Speaker #2: To capitalize on this interest, GoPro's board of directors, as authorized the company to engage in a strategic process and to engage a financial advisor to assist with that process in evaluate strategic alternatives in order to maximize shareholder value.
Speaker #3: As we shared, Q1 and the past few weeks marked an exciting array of new partnerships, business opportunity explorations, and product launches that we believe can help diversify and grow our business.
Speaker #2: We believe there is unrealized value in GoPro's technology, IP, brand, product development, and scaled manufacturing capabilities. And we look forward to exploring how M&A could unlock that value to the benefit of our shareholders.
Speaker #3: We've just entered a new era of professional performance, capability, with the launch of our new Mission 1 series of cameras and we're excited for the impact they can have on our business.
Speaker #3: Now, I'll turn the call over to Brian Tratt to walk you through details of our Q1 financial results.
Speaker #2: Thanks, Nick. Turning to our financial results, revenue in Q1 2026 was $99 million, within our guidance range and compared to $134 million in the prior year period.
Operator 1: Welcome to VIAVI Solutions Fiscal Q3 2026 Earnings Call.
Speaker #2: Macro challenges in the consumer electronics sector, including rising memory costs, supply chain constraints, and fluctuating tariffs, prompt us to take some discrete actions in the quarter that impacted gross margins and earnings per share period.
Operator: Welcome to VIAVI Solutions Fiscal Q3 2026 Earnings Call.
Speaker #2: Despite these pressures, some of which materialized in the last week of the quarter, we made meaningful progress on the metrics within our control. Cash used in operations improved $21 million year over year to $37 million.
Speaker #2: Operating expenses declined year over year, and we continued to reduce both owned and channel inventory sequentially and year over year. Additional first-quarter performance highlights include revenue from our retail channel was $61 million or 61% of revenue, compared to 70% of Q1 2025 revenue.
Speaker #2: Revenue from our GoPro.com channel, which includes subscription and service revenue, was $38 million or 39% of revenue, compared to 30% of Q1 2025 revenue.
Speaker #2: Subscription and services revenue was flat year over year at $27 million or 27% of revenue. Subscription attach rate from cameras sold across all channels was 51%, compared to 49% in Q1 2025.
Operator 2: Hi, may I have your first and last name, please? Hi, this is for Rachelle Smith. Sir, are you here to attend the VIAVI Solutions Fiscal Q3 Earnings Call? I'm looking for a GoPro conference. GoPro? Okay, hold on. May I know what time is the event? For me? I'm sorry, you mentioned you're calling, you're looking for a GoPro? Yeah, GoPro conference. Company. Sir, you've reached the line for the VIAVI Solutions earnings call. Hold on. Sorry about that. Can I get your name again? Yeah. This is for Rachelle Smith. Rachelle? Yeah. It's R-A-C-H-E-L. Yeah. S-M-I-T-H? Yeah, that's correct. Okay. Do you have the meeting ID for me? Yeah. It's 946438490. 96. Thank you, sir. Can you kindly stay on the line?
Speaker #2: StreetAce P was $371, a 6% improvement year over year. Operating expenses were $59 million compared to $62 million in the prior year period, a 6% decrease year over year.
Speaker #2: The following results reflect the discrete actions mentioned previously, gross margin was 4.5% compared to 32.3% in Q1 2025, excluding the discrete actions, gross margin would have been approximately 31%.
Speaker #2: Net loss was $58 million compared to prior year net loss of $19 million. Gap and non-gap loss per share were $0.50 and $0.35 respectively, compared to a prior year loss per share of $0.30 and $0.12 respectively.
Speaker #2: Excluding the discrete actions, non-gap loss per share would have been $0.20. Adjusted EBITDA was negative $50 million compared to negative $16 million in a prior year period.
Speaker #2: Excluding the discrete actions, adjusted EBITDA would have been negative $25 million. We ended the quarter with inventory of 72 million, a 25% decrease year over year, and an 8% decrease from Q4 2025.
The launch of the mission 1 series marks, gopro's. Most significant push into the professional and prosumer Creator markets.
Speaker #2: Channel inventory declined 20% from the prior year quarter and 6% sequentially. Given the macro challenges in the consumer electronics sector and the strategic process we've initiated to evaluate opportunities for the sale of the company, we will no longer be providing forward-looking guidance and we're drawing our full year guidance at this time.
Featuring a new 50 megapixel 1-inch sensor and GoPros new Ultra efficient. Next generation gp3 processor. The mission 1 series cameras deliver category leading resolutions frame rate run times and thermal performance for Mission critical reliability and extreme use cases.
Speaker #2: In summary, we're encouraged by the early, positive response to our Mission 1 line of cameras. And as Nick mentioned, we're excited about the strategic momentum building around our defense and aerospace exploration with all of our Wyman and the plan to engage a strategic advisor to evaluate strategic alternatives both of which we believe can unlock unrealized value in GoPro's technology, IP, and brand.
The new lineup includes three camera models: Mission 1 Pro, Mission 1 Pro ILS, and Mission 1.
Operator 2: I'll just need to find this ID number, okay? Okay. Hold on. Unfortunately, we don't have this listed on us. Would you be able to provide to me your phone number or an email so that I can hand this over to the manager for the event? Oh, do you need an email address? At least your phone number, sir, if that would be fine. Okay. Oh, okay. Hold on, sir. I'm sorry. I think I found it, but it says here that the event has ended. It was supposed to be. Hold on. Okay. It says here that the event has ended, but hold on, let me double-check, okay? Okay. Thank you. Hey, I just need you to stay on the line. We are contacting the manager for the event, okay? Thank you, sir. Hold on. Hi, sir.
Speaker #2: Operator, we're now ready to take questions.
The response to our mission 1. Series of products has been overwhelmingly, positive recent. Press coverage has consistently. Highlighted the cameras industry-leading specs image quality Compact and durable design. Plus the outright performance and value the cameras. Delivered relative to dramatically more expensive Cinema cameras,
Speaker #3: We will now begin the question and answer session. We ask that you pick up your handset when asking a question to allow for optimum sound quality.
At the NAB. Show our new cameras earned 3, prestigious awards from leading industry Outlets
Speaker #3: 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 Erik Woodring with Morgan Stanley.
1 of 6, red shark Best in Show Awards, 1 of 10 production Hub, Awards of Excellence.
Speaker #3: Please go ahead.
And the mission 1 Pro. ILS was the sole winner of the cined. Best of show award in the camera category.
Speaker #4: Hey, everyone. It's Dylan Liu on for Erik. And thanks for taking my questions. I have a couple if I may. So today you just announced strategic alternative process which includes the sale of the company or merger to maximize the value for shareholders.
These Awards. Go to all of those employees whose dedication and passion made the mission 1 series cameras possible.
Thank you, team and congratulations.
Speaker #4: So Nick, I think you're a Class B shares give you about 63% of the outstanding voting power of GoPro. Meaning any sale or merger ultimately requires your personal approval.
We expect the mission 1 series products to enable GoPro to gain meaningful. Share in our core markets as well as in new professional and prosumer marketing.
Speaker #4: Can you clarify whether you are personally supportive of a full sale of the company? And if so, what price or strategic outcome would you need to see to vote in favor of such a transaction?
The Mission 1 series products will be available May 28th at GoPro.com and select authorized retail partners globally, including Best Buy and Walmart, as well as high-end imaging retailers B&H and Adorama.
Speaker #5: Thanks for the question. Yeah, I am fully supportive of evaluating strategic opportunities for the company to unlock value for shareholders. So this effort has my full and complete support.
As we shared, Q1 and the past few weeks marked an exciting array of new partnerships, business opportunities, explorations, and product launches that we believe can help diversify and grow our business.
Speaker #4: Got it. And in the press release, you mentioned the strategic review was triggered by several unsolicited inbound strategic inquiries received after the defense and aerospace announcement in early or mid-April.
We've just entered a new era of professional performance capability with the launch of our new mission 1 series of cameras and we're excited for the impact. They can have on our business.
Speaker #4: So can you describe the nature of these inquiries? Are they primarily from defense/aerospace acquirers interested in GoPro's technology or from financial or strategic buyers in your core consumer imaging market?
Thanks, Nick. Turning to our financial results.
Revenue in Q1 2026 was $99 million, within our guidance range, and compared to $134 million in the prior year period.
Speaker #4: And does the board or you have a preference for one type of buyer over the other another?
Macro challenges in the consumer electronics sector include rising memory costs and supply chain constraints.
Speaker #5: Well, without sharing too much detail, I can share that there's been interest from various sectors, various types of interested parties so it's not just defense or not just financial.
And fluctuating tariffs prompt us to take some discrete actions in the quarter that impacted gross margins and earnings per share.
Despite these pressures, some of which materialized in the last week of the quarter, we met meaningful progress on the metrics within our control.
Speaker #5: And the range of interest led us to make the decision that we should run a process to evaluate what kind of value we could lock on behalf of shareholders.
Cash used in operations, improved 21 million year-over-year to 37 million.
Operating expenses declined year-over-year. And we continue to reduce both owned and channel, inventory, sequentially and year-over-year.
Speaker #4: Got it. That's clear to me. Thank you. And just one follow-up if I may. So GoPro, you just announced a Mission 1 series. And this is a brand new product line.
Performance highlights include revenue from our retail channel was $61 million, or 61% of revenue, compared to 70% of Q1 2025 revenue.
Speaker #4: So would you mind giving us the sense of the selling potential of this product? And I think you sized that low-light capable camera segment as a TAM.
Revenue from our GoPro.com channel, which includes subscription and service revenue, was $38 million, or 39% of revenue, compared to 30% of Q1 2025 revenue.
Subscription and services Revenue was flat year-over-year at 27 million, or 27% of Revenue.
Speaker #4: It's about two to two and a half million units annually. Can you describe the specific customer segments that you're targeting with Mission 1 series?
Subscription attach rate from cameras sold across all channels was 51%, compared to 49% in Q1 2025.
Speaker #4: Who are the major competitors that we're taking shares of? And how should we think about the pricing, the $600 to $700 selling price relative to incompetent solutions?
Street AP was 371, a 6% improvement year-over-year.
Speaker #5: Sure. Yeah, the Mission 1 line is very interesting because it plays in several different categories. First and foremost, we're marketing it and to its strength as the world's most compact cinema camera line.
Is for $59 million compared to $62 million in the prior year period, a 6% decrease year-over-year.
But the following results reflect the discrete actions mentioned previously.
Gross margin was 4.5%, compared to 32.3% in Q1 2025.
Excluding the discrete actions, gross margin would have been approximately 31%.
Speaker #5: Whether it's the entry-level Mission 1 camera for $599 or the Mission 1 Pro for $699 or the Pro ILS with an interchangeable lens system, also for $699.
Net loss was 58 million compared to Prior year, net loss of 19 million.
GAAP and non-GAAP loss per share were $0.50 and $0.35, respectively, compared to a prior year loss per share of $0.30 and $0.12, respectively.
Speaker #5: The resolutions, the frame rates, the image quality, is all at the professional level. So they truly are compact cinema cameras that we think are going to unlock exciting new perspectives for professional filmmakers, television series producers, commercial producers, as well as influencers and tip of spear professional-level content creators.
Excluding the discrete actions, non-GAAP loss per share would have been $0.20.
Adjusted, even though it was -50 Million compared to -6 million in the prior year period.
Excluding the discrete actions adjusted Eva would have been - 255 million.
We ended the quarter with inventory of 72 million. A 25% decrease year-over-year and an 8% decrease from Q4 2025, Channel inventory, declined, 20% from the prior year, quarter and 6% sequentially,
Speaker #5: But at the same time, the price points, the convenience, the versatility, the durability, make them ideal as very high-end alternatives for people that are currently using action cameras.
Given the macro challenges in the consumer electronics sector and the strategic process we've initiated to evaluate opportunities for the sale of the company.
We will no longer be providing forward-looking guidance and are withdrawing our full-year guidance at this time.
Speaker #5: For creating whatever content they're creating, but want to do so at a much higher end with much more professional output. And then for aspiring consumers, that want the most capable action cameras in the world, the Mission series line definitely can be used for that purpose.
In summary. We're incurred by the early positive response to our mission 1, line of cameras. And as Nick mentioned, we're excited about the Strategic momentum building around our defense and Aerospace Exploration with all of our Wyman.
In the plan to engage a strategic adviser to evaluate strategic alternatives.
Both of which we believe can unlock unrealized value and GoPro’s technology, IP, and brand.
Operator, we’re now ready to take questions.
Speaker #5: So a portion of that market we think will gravitate up towards the Mission series because of how well they work, just as in everyday camera.
We will now begin the question and answer session.
Speaker #5: But the cameras are definitely targeting a higher-end professional user. And we think that the price points relative to cameras that are far more expensive but don't match the resolution and frame rates of the Mission 1 line we think the cameras are a relative bargain.
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 Eric Woodring with Morgan Stanley.
Please go ahead.
Speaker #5: And especially when you look at the capabilities of the ILS model which enables people to use a vast array of commercially available micro four-thirds lenses or lenses that they might already own.
Speaker #5: And truly get just an incredible range of different looks that you can create whether it's macro to telephoto to full cinema lenses. I think we're going to see a lot of staggeringly impressive content being created with the new Mission 1 series line.
Speaker #5: So it's a step up for us across the board in performance and pricing. Yet at the same time, it's not a complete departure from our existing markets because at the end of the day, they're very relatable as GoPros to the average consumer.
Hey everyone. It's uh, Dylan Leu on for Eric and thanks for taking my questions. I have a couple of if I may. So um, today you just announced a strategic alternative process which includes a sale of the company or merger to maximize the value for shareholders. Um, so Nick, I think your class B shares give you about like 63% of the outstanding voting power of GoPro, uh, meaning any sale or merge, It ultimately requires your personal approval, um, can you clarify, whether you are personally, supportive of a full sale of the company, and if so, uh, what price was strategic outcome, would you need to see to vote, um, in favor of such a transaction
Uh, thanks for the question. Yeah, I am fully supportive of evaluating strategic opportunities for the company, to unlock, uh, value for shareholders. So, this—this effort has my full and complete support.
Speaker #4: Got it. Thank you. That's it for me.
Speaker #5: Thank you very much.
Speaker #1: We have reached the end of the Q&A session. I will now turn the call back to management for closing remarks.
Speaker #5: Thank you, Operator. And thank you everyone for joining today's call. To close, Q1 and the last few weeks have been a period of meaningful momentum.
Speaker #5: Marked by new partnerships, expanding business opportunities, and significant product launches that we believe can both diversify and grow our business. And importantly, we believe there is unripe realized value in GoPro's technology, IP, brand, product development, and scaled manufacturing capabilities.
Illicit unsolicited inbounds for 2 to inquiries received after the, um, you know, defense and Aerospace announcement in early or, you know, mid April. So, can you describe the nature of these inquiries? Um, are they primarily from defense slash, you know, Aerospace, uh, uh, acquirers and interested in GoPros technology or from, you know, Financial or strategic buyers in your core consumer Imaging market. And, um, does the board or you have a preference for for 1 type of buyer over the other another
uh,
Speaker #5: And we look forward to exploring how a potential sale of the company could unlock that value to the benefit of our shareholders. Thank you, everyone.
Speaker #5: This is Team GoPro. Signing off.
Well, without sharing too much detail, I can share that there's been interest from various uh sectors various types of, of interested parties. So it's not just, you know, defense or not, just Financial, um, and the range of interests, uh,
Led us to make the decision that we should run a process to evaluate, what kind of value we could lock unlock on behalf on behalf of shareholders?
Operator 2: Are you still there? Sorry, for this one, can you try to hang up and dial once more so that the system would recognize the event at the number? Hello? Hello, are you still there? Hi, sir. I'm not hearing anything from the other end. I will terminate the call, but please dial back to properly assist you. Thank you so much. Bye-bye.
Operator: Are you still there? Sorry, for this one, can you try to hang up and dial once more so that the system would recognize the event at the number? Hello? Hello, are you still there? Hi, sir. I'm not hearing anything from the other end. I will terminate the call, but please dial back to properly assist you. Thank you so much. Bye-bye.
Got it. Uh, that's clear to me. Um, thank you and uh, just 1 follow-up, if I may. Um, so GoPro is just a a launched a mission 1 series and this is a brand new product line. So, um, would you mind giving us the sense of the sell and potential of this product? And I think you size that low light capable camera segments as a tam, uh, it's about like 2 to 2.
5 million units annually. But can you describe the specific customer segments that you're targeting with mission 1 series? Who are the major competitors that we're taking shares of? And how should we think about the, um, uh the pricing the 600 to 700 selling price relative to the incumbent Solutions?
Sure. Uh, yeah, the mission 1 line is very interesting because
Uh, it plays in several different categories. Uh, first and foremost, we're marketing it. And, uh,
To its strength as a, the world's most compact uh, Cinema Camera line. Whether it's the entry level mission 1 camera,
Uh, for 599 for the mission 1 Pro for 699 or the pro iOS with an interchangeable lens system. Also for 699, uh, the the resolution, the frame rates. Uh, the image quality is all at the professional level. Uh, so it it they truly are compact Cinema cameras that we think are going to unlock exciting New Perspectives for professional filmmakers. Uh, television series, producers commercial producers as well as you know, influencers and tip of spear, uh, professional level content creators.
Uh, but at the same time, the price points, the convenience the, the versatility, the durability, uh, make them ideal as very high-end alternatives for people that are currently using action cameras, uh, for creating whatever content, uh, they're creating, but want to do. So at a, at a much higher end with a much more professional output.
And then for aspiring consumers, that want the most capable.
Action cameras in the world. The Mission series, blind, definitely can be used for that purpose. So, uh, a portion of that market we think will gravitate up towards the Mission series because of how well they work just as an everyday camera. But the cameras are definitely targeting a higher-end, professional user, uh, and we think that the price points — relative to cameras that are far more expensive but don't match the resolution and frame rates of the Mission 1 line — uh, we think the cameras are a relative bargain. And especially when you look at the capabilities of the ILS model, uh, which enables people to use a vast array of commercially available Micro Four Thirds lenses, or lenses that they might already own, and truly get just an incredible range of, um, you know, different looks that you can—
Can create whether it's macro to telephoto to full Cinema lenses. Uh, I think we're going to see uh, a lot of
Staggeringly impressive, content being created, uh, with a new mission 1 series line. So uh it's uh, it's a step up for us across the board and performance and pricing yet at the same time. It's not a complete departure from our existing markets because at the end of the day they're very relatable as GoPros to the average consumer.
Got it. Thank you. That's it for me.
Thank you very much.
You have reached the end of the Q&A session.
I will now turn the call.
Management for closing remarks.
Thank you, operator. And thank you, everyone, for joining today's call.
Close q1 in the last few weeks have been a period of meaningful. Momentum marked by new Partnerships expanding business opportunities, and significant product, launches that we believe can both diversify and grow our business.
And importantly, we believe there is none, right? Realized value, in GoPros technology, IP Brands product development and scale manufacturing capabilities. And we look forward to exploring how a potential sale of the company could unlock that value to the benefit of our shareholders.
Thank you, everyone. This is team GoPro signing off.
This concludes today's call. Thank you for attending. You may now disconnect.
