Guidance came in at expectations. But the company announced they’re going to delay the launch of their stupid aerial drone, ironically dubbed ‘Karma’, until the pagan holidays. This is a big blow, as the company was supposed to launch it this quarter.
As such, the stock is barreling lower, sinking into the oblivion of single digits, new and fresh all time lows.
Reports Q1 (Mar) loss of $0.63 per share, excluding non-recurring items, $0.04 worse than the Capital IQ Consensus of ($0.59); revenues fell 49.5% year/year to $183.5 mln vs the $169.55 mln Capital IQ Consensus.
Non-GAAP Gross Margin 33% (Guidance 35-37%)
GoPro has no further financial exposure remaining from purchase commitments and inventory related to our end-of-life HERO camera line.
According to NPD, GoPro’s first quarter combined digital camera/camcorder unit share in the U.S. increased 150 basis points year-over-year to 20.9%.
Co reaffirms guidance for FY16, sees FY16 revs of $1.35-1.50 bln vs. $1.36 bln Capital IQ Consensus Estimate.
Thank the heavens Nick and his colleagues sold out of the stock when it was up around $75 in an offering. Otherwise, he might not be able to sail around in his yacht, enjoying the fruits of his perfidy, which has led the stock down 90% over the past 9 months.
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Head line photo shows what an ass clown he truly is.
bet he shorted his own stock after cashing out.
In all fairness, I respect him. Smart people use the system to their advantage, no? I would respect him more if he was sailing a nice 60′ Beneteau.
I do not respect pump and dumpers.
The banks made him do it.
fg, it is possible to make money without screwing over other people, you know.
GPs have alwasy been expensive, but with the drone cameras they lost thier market and huge margins. Drones are quickly becoming a commodity and i look forward to shorting the stock’s ineveitabel pop when they finally introduce their drone.
For the conference call, did Woodman call in from his $40 million mega-yacht? or from his Gulfstream?
http://www.marketsqueeze.com/wp-content/uploads/2015/12/gopro_yacht.jpg
http://www.surfermag.com/features/gopro-nick-woodman/#22904e3aa3
Headed to single digits.