GoPro Q2 Earnings Call Highlights

GoPro Q2 Earnings Call Highlights

GoPro said its board-authorized review of a potential sale and other strategic alternatives is in the later stages, while the company focuses on expanding its camera lineup and building awareness for newly launched products. Chief Executive Officer Nicholas Woodman said the strategic review, authorized by GoPro’s board in May, is intended to maximize shareholder value. He said inquiries have come from the defense, consumer and financial sectors, and that the process has his full support. The company did not provide additional details on potential outcomes or timing.

During the second quarter, GoPro began shipping its MISSION 1 PRO and MISSION 1 cameras after opening preorders in May. The cameras are available through GoPro’s website and global retail partners including Best Buy, Walmart, B&H and Adorama. Woodman said pricing begins at $499 for existing GoPro subscribers.

Woodman said GoPro recently expanded the MISSION 1 range with special-edition bundles and accessories. The MISSION 1 PRO Creator Edition is aimed at vloggers and creators, while the MISSION 1 PRO Ultimate Creator Edition is intended for filmmakers seeking a more extensive package of equipment. The Ultimate Creator Edition includes GoPro’s Fluid Pro AI gimbal, which Woodman said provides stabilization and AI-driven subject tracking. Newly announced accessories include the Wireless Mic Complete Kit, Light Mod 2, Media Mod for the MISSION 1 series and Volta 2 battery grip.

Media Mod: Adds ports for external monitors, microphones and other accessories. Volta 2: Provides up to nine hours of continual recording, according to the company, while serving as a grip, control device and tripod. Wireless Mic Complete Kit: Is designed to support untethered audio capture for uses including vlogging and multi-camera shoots.

The special editions and accessories are scheduled to become available later this month through GoPro’s website and retailers globally. The company is also offering a limited-time $100 discount on MISSION 1, MISSION 1 PRO and MISSION 1 PRO Grip Edition cameras.

GoPro plans to launch the third camera in the series, the MISSION 1 PRO ILS, in September. The interchangeable-lens model will support more than 300 Micro Four Thirds lenses and include the company’s HyperSmooth video stabilization, Woodman said. GoPro will also introduce the Mission Monitor app for iPhone and iPad in September, offering live camera preview, composition overlays and remote controls.

Woodman highlighted growth in the company’s subscription business, which includes unlimited cloud storage for content uploaded while a camera is chargin...