GoPro (GPRO) Q1 2022 earnings results narrowly beat EPS and revenue estimates

It would appear that GoPro (GPRO) beat their Q1 2022 revenue estimates by a fairly narrow margin.


Today GoPro (GPRO), the company known for their portable video cameras for on-the-go and athletic lifestyles, revealed their Q1 2022 earnings today and it would appear that the company was able to beat their revenue by a penny. GoPro was expected to have EPS of 8 cents, but the actual EPS ended up being 9 cents per share, which just narrowly put them ahead of said expectations. GoPro had an expected revenue of $216.75 million but had an actual revenue of $217 million, meaning it just barely beat those expectations.

According to GoPro’s own Q1 2022 earnings report, the company saw a massive influx of new subscribers that was 85% year-over-year with that number now resting at 1.74 million subs. GoPro also had a major increase in cash and investments of 52% year-over-year that brought in the company $450 million.

GoPro (GPRO) beat their Q1 2022 earnings expectations.
GoPro (GPRO) beat their Q1 2022 earnings expectations.

GoPro founder and CEO, Nicholas Woodman stated, "We hit the ground running in 2022, successfully growing year-over-year revenue and profitability while launching exciting new products. With several additional products slated for launch later this year, we expect to continue this TAM-expanding trend."

GoPro’s report also noted the follow financial results:

  • Revenue was $217 million, up 6% year-over-year from $204 million.
  • revenue, including subscription revenue, increased 8% year-over-year to $89 million, or 41% of total revenue. Subscription and service revenues totaled $19 million, up 73% year-over-year.
  • GAAP and non-GAAP gross margin was 41.8% and 42.0% respectively, up from the prior year period at 38.6% and 39.2%, respectively.
  • GAAP net income was $6 million, or $0.04 per share, up from a net loss of $10 million or $0.07 per share in the prior year period. Non-GAAP net income was $15 million, or $0.09 per share, up 214% from $5 million, or $0.03 per share in the prior year period.
  • Adjusted EBITDA was $21 million, or 10% of revenue, compared to $11 million, or 5% of revenue in the prior year period.
  • Cameras with retail prices at or above $400 represented 92% of Q1 2022 camera revenue, up from 79% in Q1 2021.
  • Q1 2022 Street ASP was $414, up 13% year-over-year.

GoPro’s Q1 2022 earnings report also highlighted the success of their recently launched desktop app and the launch of the HERO 10 Black Bones drone camera along with their second Technical & Engineering Emmy award along with a few other landmark accomplishments in the last year. GoPro has definitely made a name for itself with its versatile and user-friendly cameras and equipment and the numbers would appear to backup their position as a major player in the audio/video industry. Even though the company only beat their expectations by a penny, that’s still a win for GoPro. Be sure to keep it locked right here on Shacknews for more earnings reports and tech coverage.

Events Coordinator

Blake has been writing and making videos about pop-culture and games for over 10 years now. Although he'd probably prefer you thought of him as a musician and listened to his band, If you see him on the street, buy him a taco or something. Follow him on twitter @ProfRobot

From The Chatty
Hello, Meet Lola