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GoPro (GPRO) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · GoPro (GPRO) Q2 2026 earnings results →
Q2 2026 Revenue down 31% year over year to $105M · 49¢ of every $1 of revenue lost · operating margin -37.1%
GoPro made $105M in Q2 2026 (-31% Y/Y): Hardware $76.0M, Subscription and services $29.0M. Operating margin -37.1%, net loss $51.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $104.9M in Q2 2026, down 31% year over year and up 6% from the previous quarter. Hardware was the largest line at 72% of revenue. Hardware lost $50.5M year over year (down 40%), 106% of the total change.
Gross margin was 30.2%, down 5.6 points from Q2 2025. Operating costs exceeded revenue by $39.0M, an operating margin of -37.1%. Operating expenses grew 3% against a revenue fall of 31%. The fastest-growing cost line was Sales & marketing (+15%). The quarter ended with a net loss of $51.2M, narrower than the previous quarter's $76.3M loss.
Operating cash flow was −$10.8M. Non-cash charges added back $1.8M of depreciation and amortization and $4.1M of share-based compensation. Working capital and other items added $34.6M. Capital expenditures of $1.0M exceeded it, leaving free cash flow of −$11.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $105M | -31% | -37.1% | −$51.2M | −$10.8M |
| Q1 2026 | 10-Q | May 11, 2026 | $99.1M | -26% | -57.8% | −$76.3M | −$36.6M |
| Q4 2025 | 10-K | Mar 12, 2026 | $202M | +0.4% | -4.1% | −$2.1M | $15.6M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $163M | -37% | -9.8% | −$27.4M | $12.2M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $153M | -18% | -9.2% | −$16.4M | $8.8M |
| Q1 2025 | 10-Q | May 12, 2025 | $134M | -14% | -33.7% | −$46.7M | −$57.2M |
| Q4 2024 | 10-K | Mar 17, 2025 | $201M | -32% | -19.5% | −$37.2M | −$25.1M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About GoPro
GoPro helps the world capture and share itself in immersive and exciting ways. Our cameras, mountable and wearable accessories, subscription and service, and implied post contract support have generated substantially all of our revenue. We sell our products globally through retailers, distributors, and on GoPro.com. Our product offerings include cameras, mounts and accessories, lifestyle gear, applications, and subscription and services. In recent years, we have seen increased competition with new product offerings that address either new markets or solutions, which has resulted in market share loss. We believe our strategy of investing in our new next-generation, AI-driven system-on-chip (SoC), GP3, will result in new types and categories of cameras and accessories, and subscription and service offerings that will improve our performance moving forward.
In its own words, from its 10-K, filed Mar 12, 2026.
GoPro against its Photographic Equipment & Supplies peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -31% against the peers' median +3%. Operating margin: -37.1% against the peers' median 5.4%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| GPRO GoPro | Q2 2026 | $105M | -31% | -37.1% |
| KODK Eastman Kodak | Q3 2026 | $276M | +3% | 5.4% |
| IMAX Imax | Q3 2026 | $175M | +64% | 42.9% |
| MITQ Moving iMAGE Technologies | Q4 FY26 | $4.5M | -23% | -6.7% |
Source: GoPro 10-Q on SEC EDGAR · CIK 1500435 · Photographic Equipment & Supplies
13F: who owns GPRO and who is buying
More on GPRO
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results