GoPro, Inc. Announces Preliminary Financial Guidance for the Fourth Quarter and Year Ended December 31, 2015
January 13, 2016 at 09:10 pm
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GoPro, Inc. announced preliminary financial guidance for the fourth quarter and year ended December 31, 2015. GoPro expects revenue to be approximately $435 million for the fourth quarter of 2015 and $1.6 billion for the calendar year. Fourth quarter revenue reflects lower than anticipated sales of its capture devices due to slower than expected sell through at retailers, particularly in the first half of the quarter.
Fourth quarter revenue includes a $21 million reduction for price protection related charges resulting from the HERO4 Session repricing in December. Non-GAAP gross margin for the fourth quarter of 2015, excluding the impact of price protection and a charge of between $30 million and $35 million to cost of revenue for excess purchase order commitments, excess inventory, and obsolete tooling is anticipated to be between 44.5% and 45.5%. Non-GAAP gross margin for the fourth quarter of 2015 is anticipated to be between 34.5% and 35.5%.
GoPro, Inc. produces cameras, and mountable and wearable accessories. The Company offers a family of flagship cameras, including its cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, HERO9 Black, and MAX cameras. HERO12 Black is a waterproof camera, featuring a GP2 processor and HyperSmooth 6.0 image stabilization. MAX is a 360-degree waterproof camera featuring MAX HyperSmooth image stabilization, 360-degree MAX TimeWarp Video, MAX SuperView, PowerPano, audio, live streaming, voice control and a front facing touch display. Its subscription service offers full access to the video and photo editing features in the new Quik desktop app and Quik mobile app. It offers mobile, desktop and Web applications that provide a media workflow for archiving, editing, multi-clip story creation, and sharing content on the fly. It also offers a lifestyle gear lineup that melds its signature design and versatility across a line of bags, backpacks and cases.