GoPro has reported its Q3 2017 financial results, detailing revenue that highlights a return to profitability. The company has undergone extensive business restructuring over past months in an effort to reverse its fortunes while decreasing non-GAAP expenses.
According to its latest quarterly results, GoPro saw a 37% year-on-year revenue increase, raking in $47 million in cash with a 40% gross margin.
GoPro achieved both GAAP and non-GAAP profitability during its third fiscal quarter, with company CEO Nicholas Woodman saying, "GoPro has turned a corner, restoring growth and profitability to our business. " In addition to growing revenue, GoPro saw "dramatically reduced operating costs," though the lower costs won't affect its product roadmap, according to Woodman.
In its third quarter last year, GoPro saw a GAAP net loss of $104 million. Compare that to this year's Q3 GAAP net income of about $15 million, and you'll get a sense of the drastic improvement the company just posted. The turnaround has been largely driven by GoPro's average sales price (up 22% year-on-year) and the cat that its quarterly operating expenses were the lowest they've been in 3 years.
. dpreview.com2017-11-4 20:27
