By Roshan Fernandez

GoPro reported lower first-quarter revenue after the company said retail, service and subscription sales fell year over year.

The wearable-camera maker said Monday units and revenue will be lower for the full-year compared to 2024, given the uncertain macroeconomic environment, competition and the delay of its new 360 camera.

The company anticipates offsetting tariff costs with modest price increases. The current tariff rates will result in an $8 million impact on GoPro's cameras, the company said, which will be offset by price increases of less than 5% globally.

It continues to diversify its supply chain for production outside of China, and said it will potentially produce some products in the U.S.

GoPro narrowed its first-quarter loss to $46.7 million, or 30 cents a share, compared with a loss of $339.1 million, or $2.24 a share, a year earlier.

The year-ago loss was driven by a $295 million tax valuation allowance.

Excluding one-time items, per-share results were a loss of 12 cents. The company previously said it was expecting adjusted results per share between a loss of 10 cents and 16 cents.

Revenue at the San Mateo, Calif.-based company fell to $134.3 million from $155.5 million a year earlier. That was at the high end of the company's previously issued guidance.

Retail revenue, which makes up more than half of the company's sales, was down 12% year over year.

For the second quarter, GoPro said it expects revenue between $135 million and $155 million, and adjusted earnings per share between a loss of 11 cents and 3 cents.

The company said it reduced operating expenses by 26% year over year compared to the year-ago quarter.

"We believe the new products we have planned for the balance of 2025 and 2026 set us up for a return to growth in revenue and profitability," said Chief Executive Nicholas Woodman.

Shares fell 5.8% to 58 cents in Monday's after-market trading.

Write to Roshan Fernandez at roshan.fernandez@wsj.com

(END) Dow Jones Newswires

May 12, 2025 16:42 ET (20:42 GMT)

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