GoPro Inc. (NASDAQ: GPRO) disclosed substantial doubt about its ability to continue as a going concern in updated financial statements expected to be filed June 1, 2026. The camera maker refiled its consolidated financial statements from its 2025 annual report to include this disclosure, which also appears in its quarterly report for the period ended March 31, 2026.

The company's independent auditor, PricewaterhouseCoopers LLP, included an explanatory paragraph regarding GoPro's ability to continue as a going concern in its updated report. The disclosure arose from circumstances that developed after GoPro filed its annual report on March 12, 2026.

GoPro maintains credit facilities totaling $50 million through agreements with Farallon Capital Management and Wells Fargo Bank. The company also entered into an agreement in February 2026 with YA II PN for convertible debentures worth up to $50 million.

The refiling of financial statements with the going concern qualification may constitute an event of default under GoPro's credit agreements. Cross-default provisions in the company's borrowing arrangements mean a default under one agreement could trigger defaults across other borrowings. GoPro stated it is in discussions with its lenders.

The company anticipates potential non-compliance with restrictive covenants in future quarters and may seek waivers or amendments from lenders. GoPro noted it may also pursue additional financing sources to avoid defaults under its credit facilities.

GoPro's credit agreements contain restrictive covenants that limit capital raising activities and other operational matters. Recent amendments to the 2025 term loan adjusted minimum EBITDA, liquidity, and asset coverage requirements, while changes to the 2021 credit facility revised financial covenants, extended maturity, and increased interest rates.