GoPro (GPRO) Misses Q4 EPS by 9c; Guides Q1, FY16 Revenue Well Below Views; Names New CFO
(Updated - February 3, 2016 4:32 PM EST)
GoPro (NASDAQ: GPRO) reported Q4 EPS of ($0.08), $0.09 worse than the analyst estimate of $0.01. Revenue for the quarter came in at $436.6 million versus the consensus estimate of $496.1 million.
Business Outlook:
GoPro is providing guidance for the first quarter and full year of 2016:
| ($ in millions) | Q1 2016 | Full Year 2016 | ||
| Revenue | $160 - $180 | $1,350 - $1,500 | ||
| Non-GAAP gross margin | 36% +/- 100bps | |||
| Non-GAAP operating expenses(1) | $165 - $170 | |||
| Adjusted EBITDA | $(95) +/- $2.5 | |||
*** The Street sees Q1 revenue of $298 million and FY16 revenue of $1.61 billion.
(1) Excluding estimated restructuring expenses for Q1 2016 of $5 million to $10 million
GoPro Names Brian McGee Chief Financial Officer - Effective March 11.
Brian McGee, a 30-year finance veteran who has served as CFO of two publicly-traded companies and who joined GoPro in 2015 from Qualcomm will succeed CFO Jack Lazar effective March 11. "The past two years have been incredibly rewarding and I am honored to have worked with Nick and the rest of the GoPro team. I will miss them all and I am excited that Brian is taking over the CFO role," said Jack Lazar, who is retiring after two years at GoPro. "Jack has been a great leader who helped GoPro navigate the path to becoming a publicly-traded company. While he will be missed, we are also grateful to have Brian and a strong bench of leaders running Finance at GoPro," said Nick Woodman.
For earnings history and earnings-related data on GoPro (GPRO) click here.