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Financial statements

GoPro, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data GoPro, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue1,1851,1801,1481,1958921,1611,0941,005801652
Cost of revenue724795787782577684687682530432
Gross profit462385361413315477407324271219
Research and development359229167143132141140166186127
Selling and marketing369237222206151157167170161101
General and administrative10782.16665.868.465.76163.859.856.4
Operating expenses835548455415351364368399406303
Operating income-373-163-94-2.33-36.811339-75.5-135-83.3
Interest expense2.9913.718.719.220.322.96.244.73.33
Interest income3.19.94.73.1
Other non-operating income-2.21-12.9-13.7-16.7-25.1-23.1-4.57.731.94-8.11
Pre-tax income-375-176-108-19.1-6290.134.5-67.7-133-91.4
Income tax43.86.491.36-4.434.83-2815.61-14.62992.04
Net income-419-183-109-14.6-66.837128.8-53.2-432-93.5
EBITDA-331-122-58.923.9-17.812447.5-69.3-129-76.3
EPS, basic-3.01-1.32-0.78-0.10-0.452.410.18-0.35-2.82
EPS, diluted-3.01-1.32-0.78-0.10-0.452.270.18-0.35-2.82-0.59
Shares, basic (weighted)139138139145149154156153153
Shares, diluted (weighted)139138139145149163178153153159

Balance sheet

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash and equivalents19220315215032640122422310349.7
Short-term investments25.844.945.414.8013814423.90
Receivables1651131292011071147791.585.993.5
Inventory16715111614497.986.412710612178.4
Other current assets38.162.830.92623.942.334.638.329.831
Total current assets588574474536557782606483339253
Property, plant and equipment76.568.646.636.523.71913.38.698.75.9
Lease right-of-use assets053.131.627.321.818.714.411.1
Goodwill146146146146146146146146152134
Intangible assets33.524.513.15.251.210.060.020.025.954.08
Other non-current assets78.33718.215.511.82852893112924.6
Total assets9238506987937711,2601,077968544428
Accounts payable20513814816111117291.610385.997
Accrued liabilities21121313614211412911911011195.9
Deferred revenue14.419.215.115.528.142.555.955.955.452.6
Short-term debt12293.219.6
Total current liabilities431371299327263475276279356277
Lease liabilities063524333.425.518.17.33
Other non-current liabilities18.629.828.26.734.437.55.443.676.039.07
Total liabilities476552486559555644465412392351
Total debt013013914921811114192.6044.3
Paid-in capital7578548959319801,0099619981,0271,045
Retained earnings-275-442-569-584-651-279-196-249-682-775
Treasury stock-35.6-114-114-114-114-114-153-193-193-193
Shareholders' equity44729921223421661661255615276.6
Total equity44729921223421661661255615276.6
Total liabilities and equity9238506987937711,2601,077968544428

Cash flow statement

FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Net income-419-183-109-14.6-66.837128.8-53.2-432-93.5
Depreciation and amortization41.641.535.126.319.1118.576.166.497.07
Stock-based compensation69.551.340.937.23038.73941.529.119.5
Deferred income tax38.6-2.53-0.39-0.03-0.05-2742.71-17.92970.28
Change in receivables-18.852.3-16.5-71.393.1-8.1437.8-14.55.29-7.3
Change in inventory2116.634.1-27.846.311.5-40.720.9-14.542.3
Change in payables143-44.4-70.43.21-87.556.3-97.1-4.23-21.2-11.1
Cash from operations-108-36.9-42.4-24.493.82295.75-32.9-125-20.7
Capital expenditures-43.6-24.1-11-8.35-4.88-5.55-3.45-1.52-4.04-3.36
Acquisitions-1040000-12.30
Purchases of investments0-52.3-57.7-43.60-147-166-25.800
Sales and maturities of investments12021.757.556.914.88.34161149240
Cash from investing19.3-43.1-6.2422.89.51-144-8.391227.65-3.36
Debt issued0014400
Stock issued9.669.755.175.575.447.494.763.882.152.71
Share buybacks0-7800-39.6-4000
Cash from financing1.9688.6-1.48-1.0472-9.89-173-90.4-0.93-30.1
Exchange rate effect-1.051.75-0.260.922.08-2.11-1.440.32-1.481.01
Net change in cash-87.610.4-50.4-1.7917773.4-177-1.03-120-53.1
Free cash flow-151-60.9-53.4-32.888.92242.3-34.4-129-24
Interest paid03.116.136.186.726.134.261.981.294.31
Income taxes paid9.698.37-32.10.182.240.812.1-0.541.090.85

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $1.29 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin27.7%Gross profit / revenue.
Operating margin-21.2%Operating income / revenue.
EBITDA margin-20.1%EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin-28.2%Pre-tax income / revenue.
Net margin-28.5%Net income / revenue.
FCF margin-4.1%Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin-3.5%Cash from operations / revenue.
Return on assets (ROA)-40.7%Net income / average total assets.
R&D / revenue22.0%Research and development expense / revenue.
Stock-based pay / revenue2.8%Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue0.6%Capital expenditures / revenue.
D&A / revenue1.1%Depreciation and amortization / revenue.

Growth

MetricValueHow it is calculated
Revenue growth, 1y-18.7%Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y-15.9%Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y-6.1%Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y-19.2%Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y-18.6%Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y-7.0%Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y-49.5%Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y-50.0%Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y-18.7%Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y-21.3%Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y-26.5%Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y-11.1%Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y3.6%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y-3.8%Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y1.2%Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio0.57xCurrent assets / current liabilities.
Quick ratio0.22x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.07x(Cash + short-term investments) / current liabilities.
Debt / assets0.0%Total debt / total assets.
Liabilities / assets108.2%Total liabilities / total assets.
Net debt-$27.3MTotal debt - cash - short-term investments. Negative means more cash than debt.
Working capital-$175.8MCurrent assets - current liabilities.
Goodwill and intangibles / assets34.4%(Goodwill + intangible assets) / total assets.
Tangible book value-$169.6MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover1.43xRevenue / average total assets.
Fixed asset turnover81.0xRevenue / average property, plant and equipment.
Inventory turnover4.74xCost of revenue / average inventory.
Days inventory77 days365 x average inventory / cost of revenue.
Receivables turnover9.42xRevenue / average receivables.
Days sales outstanding39 days365 x average receivables / revenue.
Days payables112 days365 x average accounts payable / cost of revenue.
Cash conversion cycle4 daysDays inventory + days sales outstanding - days payables.

Per share

MetricValueHow it is calculated
EPS, diluted-$0.95Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share$3.32Revenue / diluted weighted shares.
FCF per share-$0.14Free cash flow / diluted weighted shares.
Operating cash flow per share-$0.11Cash from operations / diluted weighted shares.
Book value per share-$0.19Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share-$0.99Tangible book value / shares outstanding.
Cash per share$0.16(Cash + short-term investments) / shares outstanding.

Valuation

MetricValueHow it is calculated
Market cap$238.0MShare price x shares outstanding.
Enterprise value$210.7MMarket cap + total debt - cash - short-term investments.
P/S0.42xMarket cap / revenue.
EV/Sales0.37xEnterprise value / revenue.
FCF yield-9.8%Free cash flow / market cap.
Earnings yield-68.1%Net income / market cap (the inverse of P/E).
What was GoPro, Inc.'s revenue in fiscal 2025?

GoPro, Inc. reported revenue of $651.5M for fiscal 2025, 18.7% lower than the year before.

Was GoPro, Inc. profitable in fiscal 2025?

No. It reported a net loss of $93.5M.

How much free cash flow did GoPro, Inc. generate in fiscal 2025?

Cash from operations of $20.7M minus capital expenditures of $3.4M left free cash flow of -$24.0M.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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