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GoPro cash flow, quarter by quarter

Latest: Q2 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$11.8M in Q2 2026 · −$23.3M over twelve months

Operating cash flow−$10.8M
Capital spending−$1.0M
Free cash flow−$11.8M
Cash conversion cycle17 days

Analysis

In Q2 2026, GoPro generated −$10.8M of operating cash flow and spent $1.0M on capital projects, leaving free cash flow of −$11.8M. That is $20.1M less than in Q2 2025 ($8.3M).

Over the twelve months to Jun 30, 2026, operating cash flow was −$19.6M; the largest uses were other financing ($97.0M), operating cash flow ($19.6M), capital spending ($3.6M); besides operations, cash came from net borrowing (+) / repaid (−) ($88.5M), shares issued ($2.6M); the cash balance fell by $31.3M.

Operating cash flow was −$10.8M against net income of −$51.2M. The largest differences: payables +$63.7M, prepaid and other assets −$20.2M, inventory −$14.5M.

Its cash conversion cycle was 17 days (receivables 53 + inventory 99 − payables 135).

Free cash flow

GoPro: free cash flow by quarterGoPro: free cash flow by quarter−$4.2MQ3 2024−$25.5MQ4 2024−$58.5MQ1 2025$8.3MQ2 2025$11.2MQ3 2025$15.0MQ4 2025−$37.7MQ1 2026−$11.8MQ2 2026
Operating cash flow less capital spending.
GoPro: operating cash flow against capital spendingGoPro: operating cash flow against capital spendingOperating cash flowCapital spending−$2.2M$1.9MQ3 2024−$25.1M$416KQ4 2024−$57.2M$1.3MQ1 2025$8.8M$478KQ2 2025$12.2M$934KQ3 2025$15.6M$645KQ4 2025−$36.6M$1.0MQ1 2026−$10.8M$1.0MQ2 2026
Latest (Q2 2026): Operating cash flow −$10.8M, Capital spending $1.0M.

Capital allocation, year by year

GoPro: where the cash came from (up) and went (down), by fiscal yearGoPro: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $229MFY2021: Shares issued $7.5MFY2021: Capital spending −$5.5M$237MFY2021FY2022: Operating cash flow $5.7MFY2022: Net borrowing −$125MFY2022: Shares issued $4.8MFY2022: Capital spending −$3.4MFY2022: Buybacks −$39.6M$10.5MFY2022FY2023: Operating cash flow −$32.9MFY2023: Net borrowing −$50.0MFY2023: Shares issued $3.9MFY2023: Capital spending −$1.5MFY2023: Buybacks −$40.0M$3.9MFY2023FY2024: Operating cash flow −$125MFY2024: Shares issued $2.1MFY2024: Capital spending −$4.0MFY2024: Acquisitions −$12.3M$2.1MFY2024FY2025: Operating cash flow −$20.7MFY2025: Net borrowing $65.1MFY2025: Shares issued $2.7MFY2025: Capital spending −$3.4M$67.8MFY2025
Over these 5 years operating cash flow totalled $56.2M; the largest uses were operating cash flow ($179M) and net borrowing ($175M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$27.3M
Debt$81.7M
Net debt$54.4M
Due within a year$9.6M
Cash runway14 months

GoPro is burning cash: its operations consume cash, a free cash flow of −$23.3M a year at the current rate against $27.3M of cash and investments: a runway of about 14 months; $9.6M of debt also comes due within a year, which would need refinancing or new money before any new financing.

GoPro: debt maturities by year (FY2025)GoPro: debt maturities by year (FY2025)$9.6MYear 1$11.9MYear 2$44.9MYear 3
Principal due in each year as disclosed in the annual report, against $27.3M of cash and investments now.

Where the cash came from and went

GoPro: sources (+) and uses (−) of cash, Q2 2026GoPro: sources (+) and uses (−) of cash, Q2 2026Cash drawn (+) / kept (−)$13.5MOperating cash flow−$10.8MNet borrowing (+) / repaid (−)−$1.5MTaxes on employees’ shares−$1.3MOther investing$1.2MCapital spending−$1.0MExchange rates−$65K
GoPro: sources (+) and uses (−) of cash, TTM to Q2 2026GoPro: sources (+) and uses (−) of cash, TTM to Q2 2026Other financing−$97.0MNet borrowing (+) / repaid (−)$88.5MCash drawn (+) / kept (−)$31.3MOperating cash flow−$19.6MCapital spending−$3.6MTaxes on employees’ shares−$3.0MShares issued$2.6MOther investing$1.2MExchange rates−$384K

From profit to cash

GoPro: net income to operating cash flow, Q2 2026GoPro: net income to operating cash flow, Q2 2026Net income−$51.2MDepreciation & amortization$1.8MStock-based pay$4.1MDeferred taxes$8KReceivables$1.6MInventory−$14.5MPayables$63.7MDeferred revenue−$2.6MPrepaid and other assets−$20.2MOperating cash flow−$10.8M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q2 2026539913517
Q1 202671728953
Q4 202541545937
Q3 202548736061
Q2 202548845478
Q1 2025541076992
Q4 202450978562
Q3 202439706148

Every quarter

QuarterOperating cash flowCapital spendingNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q2 2026−$10.8M−$1.0M−$1.5M—$13.5M−$11.8M
Q1 2026−$36.6M−$1.0M$29.9M$303K$9.0M−$37.7M
Q4 2025$15.6M−$645K−$25.4M$2.0M$103M$15.0M
Q3 2025$12.2M−$934K$85.6M$332K−$94.2M$11.2M
Q2 2025$8.8M−$478K−$20.0M—$11.1M$8.3M
Q1 2025−$57.2M−$1.3M$25.0M$374K$33.2M−$58.5M
Q4 2024−$25.1M−$416K——$27.4M−$25.5M
Q3 2024−$2.2M−$1.9M—$770K$2.8M−$4.2M

GoPro: income statement and cash flow

GoPro, Q2 2026: revenue $105M (-31% year over year), operating margin -37.1%. The chart follows the revenue to costs, profit and cash.

GoPro: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.