GoPro is celebrating a major milestone: selling over 50 million cameras worldwide since the launch of its iconic HERO camera in 2009. This translates to an average of roughly 3.33 million cameras sold each year for the past 15 years.
The company’s overall revenue shows an 8% decline compared to 2023
The company has capitalized on the action camera market, launching 20 different camera models that have each surpassed 1 million units in sales. This includes not just traditional action cameras but also 360-degree cameras, catering to a wider range of content creators.
However, GoPro’s financial performance paints a less rosy picture. Despite a 6% year-over-year increase in camera sales for 2023, reaching 3 million units, the company’s overall revenue of $1 billion (approximately 7.285 billion Yuan) represents an 8% decline compared to the previous year.
Adding to the concern is a net loss of $53 million (approximately 386 million Yuan) for 2023, a reversal from the net profit of $29 million recorded in 2022. This translates to a loss of $0.35 per share compared to a profit of $0.18 per share in the previous year.
A silver lining can be found in GoPro’s subscription and service revenue, which grew 18% year-over-year to reach $97 million (approximately 707 million Yuan) in 2023. This is an indicator of a potential growth area for the company as it seeks to diversify its revenue streams.
(Via)
