GoPro Statistics 2024 and Facts

WHAT WE HAVE ON THIS PAGE Introduction GoPro Statistics: GoPro is now familiar to millions due to its advanced features of outdoor photography, action shots, thrill-seeking, IRL streaming, blogging, and others. GoPro is very different from other cameras as they are lightweight, manageable, compact, durable, and affordable. Each year, the company is launching thunders of new products in the global market, so if you are considering investing in GoPro in 2024, you are on the right track. Please go thoroughly through the GoPro Statistics, as it includes insights from various aspects that shed light on how fast the market has grown recently. Editor’s Choice As of 2023, revenue earned by the GoPro, Inc. turned up to $1 billion. More than 895 million GoPro camera units shipped in 2023, an increase of 6% from last year. GoPro subscribers turned out 2.5 million with a year-over-year growth rate of 12%. Revenue generated by subscription and service resulted in $97 million in 2023, up to 18% from 2022. The company has more than 1.16 million paid subscribers. As of 8 February 2024, GoPro has earned revenue of around $145 million, which has decreased by 17% from 1st quarter of 2023. In January 2024, the total gopro.com website visits was 6.1 million, and the bounce rate was 53.25%. The highest traffic rate towards gopro.com is by organic search, resulting in 44.9%. YouTube has the highest social media referral rate on the website of gopro.com, resulting in 48.7%. GoPro, Inc. is leading the overall action camera market now and will generate a market size of $4.41 billion by the end of 2024. Let’s understand what GoPro is! GoPro cameras are used for videos and stills shootings without any chance of damage. GoPros are mostly famous in the action segment due to their potential features and small and lightweight size compared to regular soap. The GoPro cameras are segmented in 3 significant ways: Session GoPros, Hero, and Fusion. Reason for Buying a GoPro Its small size and lightweight make it more portable and easy to carry because it easily fits inside your shirt, jacket, or dress pocket. Other features are every model of GoPro has 4K video capturing modes, is waterproof (suitable up to 100 to 200 feet underwater), is super tough, cannot be damaged it dropped from a car at 40 mph, is easy to wear, and capable of clicking quality still photos, also have fixed wide angles, WiFi connectivity, etc. Facts About GoPro GoPro has been operating in the market for 22 years since During the COVID-19 pandemic, the company has faced layoffs of more than 20% of its workforce, almost 200 employees. As of 2023, the company has 10.6 million subscribers and 20 million followers on its YouTube and Instagram channels. The GoPro market is spread over more than 100 countries. The current market has more than 15 GoPro models available. In January 2024, the company planned to launch tech-enabled motorcycle helmets. Other business highlights are GoPro returned to X Games sponsorship as the official action camera of the Freeride World Tour. General GoPro Statistics By the end of 2023, overall revenue generated $295 million, which decreased by 8% from last year’s quarter. Subscription and service revenue increased by 12% and reached $25 million. Revenue generated from the retail channel was approximately $229 million. The gross margin share of GAAP and non-GAAP was 34.2% and 34.4%, respectively. Overall gross profit has decreased by 3.1% from the last quarter of 2022, resulting in $101.1 million. Net cash flow generated from operating activities was $43.7 million. Lastly, GoPro has repurchased 2.8 million shares, resulting in $10 million worth. As of 8 February 2024, the market capitalization of GoPro accounted for $0.39 billion. The company’s market capitalizations are Eastman Kodak Company ($0.27 billion), Avid Technology ($1.19 billion), and Canon ($26.75 billion). GoPro Income Statement Statistics 4 Years Analysis From 2021 to 2024 (Source: marketscreener.com) In analyzing the company’s financial performance over the past year and projecting into the first half of 2024, several key trends and figures have been identified. These insights are presented in a simplified and accessible manner for ease of understanding: First Quarter of 2023: The company reported sales of $175 million. Despite these sales, there was a loss, with operating profits at negative $30 million. The net income also showed a loss of $30 million. The net margin, which measures profitability, was negative at 17.10%. Similarly, the operating margin was negative at 17.03%, indicating operational inefficiency. Second Quarter of 2023: Sales improved significantly to $241 million. Losses were reduced with an operating profit of negative $12 million. Net income was still in the negative at $17 million. Both net margin and operating margin showed improvements but remained in the negative at 7.14% and 5.02%, respectively. Third Quarter of 2023: Sales continued to increase, reaching $294 million. The company achieved a positive operating profit of $6 million for the first time in the year. Net income was nearly breakeven, with a small loss of $4 million. The net margin improved to negative 1.25%, and the operating margin turned positive at 1.95%. Fourth Quarter of 2023: Sales remained stable at $295 million. Operating profit saw a slight decrease to $2 million. The net income loss was reduced further to $2 million. Net margin showed a minor loss at 0.82%, and operating margin was 0.69%. Looking ahead to 2024, the company’s financial projections indicate: First Quarter of 2024: Expected sales are at $147 million, a decrease from previous quarters. Net income is projected to be at a significant loss of $43 million. The net margin is expected to worsen to negative 29.53%. Second Quarter of 2024: Sales are forecasted to rise to $226 million. Net income is anticipated to be a loss of $23 million, showing improvement. The net margin is expected to be negative at 10.16%. Third Quarter of 2024: Sales are expected to increase further to $323 million. The company is projected to return to profitability, with a net income of $4 million. The net margin is expected to be positive at 1.15%. Fourth Quarter of 2024: Sales are projected to grow to $340 million. Net income is expected to increase significantly to $17 million. The net margin is anticipated to improve to 4.91%. These points outline the financial journey of the company, showcasing a period of initial losses followed by a gradual return to profitability. The improvements in sales, reductions in losses, and eventual profit by the end of 2024 highlight the company’s resilience and potential for growth. GoPro Site Traffic Statistics By Country (Source: similarweb.com) In January 2024, in January 2024, the United States had 29% of all traffic on gopro.com however, it saw an improvement of 0.73 percent in the total number of users. Other countries with the total number of visitors and traffic contribution include Japan = 6.8 percent (-6.08 percent), Germany = 5.57 percent (+18.56 percent) The United Kingdom = 4.76% (-12.26 percent) in addition, France = 4.24 percent (-1.32 percent) In contrast, the other countries together made 49.64 percent of the total web traffic share. By Device (Refernce: semrush.com) Global Visitor Distribution on GoPro’s Website: The global traffic to GoPro’s website is divided between desktop and mobile users, with 33.72% of visitors accessing the site via desktop and a larger share, 66.28%, using mobile devices. This indicates a significant preference for mobile browsing among GoPro’s global audience. United States Visitor Statistics: In the United States, GoPro’s website attracts 2.81 million visitors, representing 4% of its total traffic. Among these U.S. visitors, 38.73% prefer using desktops, while 61.27% opt for mobile devices. This distribution underscores the dominance of mobile usage even within the U.S. market. Visitor Share by Country: France: Accounts for 5.38% of the total visitors to GoPro’s website, translating to 520,170 individuals. The split between device preferences in France shows 33.36% using desktops and 66.64% on mobile devices. Mexico: Represents 4.88% of GoPro’s web traffic, or 471,090 visitors, with a significant inclination towards mobile usage at 90.05%, compared to only 9.95% using desktops. Japan: Makes up 4.67% of the traffic, equal to 451,470 visitors, with a distinctive preference for desktop access at 56.58%, surpassing mobile usage, which stands at 43.42%. Germany: Contributes 4.06% to the total visits, amounting to 392,390 visitors. Here, the split is more balanced, with 44.65% using desktops and 55.35% preferring mobile devices. By Demographics (Refernce: semrush.com) User share of GoPro is followed…

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