GoPro ends the second quarter of 2021 with US$250 million in takings
GoPro has released potentially excellent news for its shareholders with its financial report for the latest quarter (2Q2021). It includes a growth in revenue to an impressive quarter of a billion US dollars: an 86% improvement year-on-year (YoY). These takings have resulted in a net income of $17 million (according to generally-accepted accounting principles (GAAP)), compared to no more than -$51 million from GoPro releases its latest financial performance figures2Q2020.
In fact, GoPro also claims that it has now completed the 4th consecutive quarter of net gains rather than losses, even if those profits have been non-GAAP. This success is probably due in part to the action-cam's propitious decision to re-focus its attention on its website GoPro.com, turning it into a direct sales hub for products that have grown steadily in asking street price (ASP) ever since.
This ASP now stands at US$345 at the end of 2Q2021, or 15% more YoY. Consumers can also buy into the brand's recently-established subscription-bundling model through its online platform, which is also working out very well for GoPro. It now claims to have 1,160,000 active subscribers, which is 23% more compared to 1Q2021 and 211% more compared to 2Q2020.
The OEM also claims to have racked up 820,000 unit sales for its latest quarter or 10% more YoY. GoPro's chief financial and operations officer, Brian McGee, now indicates that the company is targeting "more predictable and profitable" returns going forward.