Nick Woodman is a ridiculous caricature of a person. As CEO of GPRO, he’s done nothing but sell out of his stock and live high off the hog, as his companies shares plunged 90% from its highs. After the bell, the retarded camera maker, announced sales and guidance that were so bad; they were funny.
GoPro prelim Q4 ($0.08) vs $0.03 Capital IQ Consensus Estimate; revs $436.6 mln vs $448.56 mln Capital IQ Consensus Estimate
GoPro sees Q1 revs $160-180 mln vs $300.67 mln Capital IQ Consensus; FY16 rev $1.35-1.50 bln vs. $1.63 bln consensus
“In 2015, we recorded 16% year-over-year revenue growth and the fourth quarter represented the second highest revenue quarter in the company’s history,” said GoPro Founder and CEO, Nicholas Woodman. “However, growth slowed in the second half of the year and we recognize the need to develop software solutions that make it easier for our customers to offload, access and edit their GoPro content.”
So they admit that their strategy sucked. Maybe Nick Woodman, son of the founder of Robertson Stephens, was too busy on his new yacht, than to hatch up some new growth strategies.
Nevertheless, the company forges ahead with its meaningless share buyback program. For the love of Christ, the company is barely out of the IPO gates. There shouldn’t be a need to buy back shares so soon. They are admitting failure. They’re unable to grow and have resorted to smoke and mirrors as a way to buoy the earnings and stock. Well guess what, fucked faces, your guidance represents a 45% decline in sales. Therefore, you just bought back $35 million worth of stock into a maelstrom of earnings decline. In other words, not only are you down $10-20 million on your share buybacks; but your operating losses will now look worse with less shares outstanding.
Commencing in the fourth quarter of 2015, GoPro has acquired approximately 1.5 million shares of its Class A capital stock at an average price per share of approximately $23.05, representing a total share repurchase of approximately $35.6 million through December 31, 2015. The Company has a remaining share repurchase authorization of $264.4 million. GoPro ended 2015 with cash, cash equivalents & marketable securities totaling $474 million, an increase of approximately $52 million from year end 2014.
Nick Woodman doesn’t deserve a job.
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I told you they’d be the Crox of this bull market lol. 🙂
Good one. Who will be the next Crox? For those who like to sell short.
Gotta wait until 2020 for another one. I mean, plenty of good shorts all the time, but hallmarks are those for a reason.
Citron really killed it with their calls last year.
GoPro may have to consider a name change to “GoNovice”.
Who do I complain to about my accomdations on the ark? I got stuck in between the koala bears and Ricki Ticki Tavi. One other thing, one of your deckhands, a one Samsonite Hamburgular, needs to go.
Dead, read this comment, and I died LOL!
Riki Tiki Tavi oh my God. My hat is off to you, sir.
HAHA!
Had a guy tell me he was SURE it was a steal b4 earrings b/c a short squeeze and massive rally were definite.
lower prices beget lower prices.
Meanwhile I was shot this PacB nonsense rumor rally
Only thing funnier than today’s dollar index is FRO went in reverse. LOLZ. That’ll work out well.
I’m pretty sure I have the slide halted. I bought puts today and I’m pretty sure they will expire worthless. I wanted a little downside protection since I’m long on a small position which I will most likely never profit from.
They are probably just begging to get an offer from someone, to take it off their incapable hands.
That there is the future of $FB. The most overrated name of all time.
I’ve always been in awe of big time short sellers who ride trades like Go Pro down over multiple years, doubling down their short positions and banking 10s of millions in coin.
Indeed
Agree 100%. Woodman should resign and the company should be sold to more competent managers of a great product.