GoPro Inc. (NASDAQ: GPRO) stock gained by 1.92% at last close while the GPRO stock price further soars by 6.26% in the after-hours trading. GoPro enables people all around the world to capture and share their experiences in new and exciting ways.
GPRO stock, Financial Highlights
GoPro has announced its second-quarter 2021 financial results, the summary is stated below:
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- The revenue generated for the second quarter of 2021 was $250 million whereas the revenue for the second quarter of 2020 was $134 million. This is an increase of 86% year over year.
- The GAAP and non-GAAP net margin was 39.8% and 40.1% accordingly, for the second quarter of 2021. However, this is a rise of 950 and 850 basis points respectively, year over year.
- In the second quarter of 2021, GAAP net income was $17 million, or $0.10 per share, relative to a net loss of $51 million, or $0.34 per share, in the second quarter of 2020.
- Non-GAAP net income was $20 million, or $0.12 per share, versus a net loss of $30 million, or ($0.20) per share, in the second quarter of 2020. Non-GAAP profitability was achieved for the fourth quarter in a row in Q2 2021.
- Operating costs in Q2 2021 were $90 million GAAP and $79 million non-GAAP, accordingly, relative to $86 million and $69 million, respectively, in Q2 2020.
- In Q2 2021, adjusted EBITDA was positive $25 million, or 10% of revenue, opposed to negative $22 million in the same quarter last year.
GPRO stock Business Updates
- With 1,160,000 GoPro members at the end of Q2, the company saw a 23 percent sequential increase and a 211 percent year-over-year increase.
- In Q2 2021, GoPro.com revenue rose by 48% year over year to $88 million, accounting for 35% of overall sales.
- In Q2 2021, camera unit sales totaled roughly 820,000 units, rising more than 10% year over year.
- Cameras having a selling price of $300 or more accounted for 94% of Q2 2021 camera revenue.
- The Street ASP in Q2 2021 grew 15% year over year to $345.
Inventory in the channel fell 15% consecutively and 35% year over year to below 500,000 units.