GoPro (NASDAQ:GPRO) stock observed trading -55.92% off 52-week high price. On the other end, the stock has been noted 68.50% away from low price over the last 52-weeks. The stock disclosed a move of 13.86% away from 50 day moving average and -14.43% away from 200 day moving average. Moving closer, we can see that shares have been trading 11.77% off 20-day moving average. It has market cap of $566.26M.
On May 07, 2020, GoPro (NASDAQ:GPRO) revealed financial results for its first quarter ended March 31, 2020.
We’ve taken decisive action to transition into a more efficient and profitable direct-to-consumer business, said GoPro founder and CEO, Nicholas Woodman. This benefits GoPro with a substantially reduced operating expense model, improved gross margin and a significantly lower threshold to profitability.
GoPro Q1 2020 Financial Results
- Revenue for Q1 2020 was $119 million, in-line with the preliminary results published on April 15, and down from $243 million for the same prior year period.
- GAAP gross margin for Q1 2020 was 32.2%, slightly down from 33.1% year-over-year. Non-GAAP gross margin for Q1 2020 was 34.2%, flat from the prior year.
- Q1 2020 GAAP net loss was $64 million, or $0.43 per share. Non-GAAP net loss was $50 million, or $0.34 per share.
- Q1 2020 GAAP operating expenses of $95 million decreased 6% year-over-year. Q1 2020 non-GAAP operating expenses were $87 million, down 4% year-over-year. GAAP and non-GAAP operating expenses were at their lowest levels since 2014.
- Adjusted EBITDA for the first quarter of 2020 was negative $41 million, compared to negative $1 million in the same period a year ago.
- Cash and investments totaled $125 million at the end of Q1 2020.
- Recent GoPro Highlights
- com represented a record percentage of revenue in Q1 2020 at 17%, up from 11% in Q1 2019.
- Cameras with retail prices above $300 represented nearly 90% of Q1 2020 revenue, continuing a trend of consumers moving to our high-end cameras.
- GoPro’s Plus subscription service ended Q1 2020 with 355,000 paid subscribers, up 14% sequentially and up 69% year-over-year.
- Social followers increased by more than 1.3 million across all channels in Q1 2020 to more than 44 million, driven primarily by increases on Instagram, TiKTok and YouTube.
- Organic viewership of GoPro content grew more than 40% both sequentially and year-over-year to a record quarterly high of 243 million organic, non-paid views in Q1 2020.
- On April 15, GoPro announced Aimée Lapic, former Pandora and Banana Republic Chief Marketing Officer, as its Chief Digital Officer to lead direct-to-consumer growth initiatives.
The USA based company GoPro moved with change of 3.69% to $3.37 with the total traded volume of 3782885 shares in recent session versus to an average volume of 4.68M. The stock was observed in the 5 days activity at -4.26%. The one month performance of stock was 32.16%. GPRO’s shares are at -14.90% for the quarter and driving a -46.85% return over the course of the past year and is now at -22.35% since this point in 2018. Right now the stock beta is 1.35. The average volatility for the week and month was at 6.31% and 7.22% respectively. There are 168.03M shares outstanding and 127.47M shares are floated in market.