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GoPro is now sitting on over US$160 million in cash for the latest quarter of 2021

The latest HERO10 Black. (Source: GoPro)
The latest HERO10 Black. (Source: GoPro)
GoPro claims to have closed the third quarter of 2021 (3Q2021) with US$317 million in sales, or 13% more year-on-year (YoY). New subscription-based strategies are also still working out for the action-cam brand, with over 100% growth YoY in numbers and takings. However, cameras such as the HERO9 Black still drive the company's continuing success.

GoPro has been going from strength to strength in every final financial performance report it has posted since shifting its business to a direct-sales model via online channels. Now, the OEM has revealed that it is still maintaining this trajectory in 3Q2021.

It has put its final total revenue for the quarter at US$317 million, $94 million (+16% YoY) of which has come from its gopro.com website. The action-cam household name also added 1.43 million additional customers for its subscriptions, which have helped them make a total of $14 million in 3Q2021 - increases of 168% and 143% YoY.

GoPro also now notes that up to 98% of the money made from its actual hardware is derived from cameras with a retail price of $300 or more. This indicates that the company is now firmly now in the premium tier of its market, which, given the price of the new HERO10 Black and its new accessories such as the Enduro battery, is decidedly the case.

Nevertheless, GoPro - recently placed second in the recent "America's Best Customer Service – 2022" Newsweek report - counts the launch of this new "breakthrough" flagship as one of the highlights of its latest quarter. It may help the company add even more to its current cash flow, now valued at $166 million, in the near future.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2021 11 > GoPro is now sitting on over US$160 million in cash for the latest quarter of 2021
Deirdre O'Donnell, 2021-11- 6 (Update: 2021-11- 6)