GoPro has reached a significant milestone by selling over 50 million cameras globally since the debut of its HERO camera in 2009. This equates to an average annual sale of about 3.33 million cameras over the past 15 years.
Variety of Camera Models
The company has leveraged the action camera market efficiently, introducing 20 different camera models, each achieving sales of over 1 million units. These include not only traditional action cameras but also 360-degree cameras, appealing to a broader spectrum of content creators.
Financial Performance
Despite a 6% year-over-year increase in camera sales for 2023, totaling 3 million units, GoPro's financial performance has been less favorable. The company's overall revenue of $1 billion (approximately 7.285 billion Yuan) marks an 8% decline compared to the previous year.
Adding to the financial woes is a net loss of $53 million (approximately 386 million Yuan) for 2023, a stark contrast to the net profit of $29 million recorded in 2022. This results in a loss of $0.35 per share, compared to a profit of $0.18 per share the year before.
Subscription and Service Revenue
On a positive note, GoPro’s subscription and service revenue grew 18% year-over-year, reaching $97 million (approximately 707 million Yuan) in 2023. This growth highlights a potential new revenue stream for the company as it seeks to diversify its income sources.
