SAN MATEO, Calif. - GoPro, Inc. (NASDAQ: GPRO), currently trading at $1.07 and identified as undervalued according to InvestingPro Fair Value metrics, has entered into exclusive partnerships with premier racing series MotoGP and MXGP (FIM Motocross World Championship) to provide fans with an immersive point-of-view (POV) experience of the races, the company announced today. The collaborations are set to deliver high-resolution content from the rider's perspective, enhancing the viewing experience for motorsports enthusiasts.
In the MotoGP series, GoPro HERO13 Black cameras will be mounted on helmets to offer lap previews from each track, giving fans a detailed, rider's-eye view of the motorcycle racing action. Additionally, GoPro will be the title sponsor of a Grand Prix event in 2025. For the MXGP series, races will be captured from start to finish with both GoPro HERO12 and HERO13 cameras, providing comprehensive coverage of the motocross events.
Marc Saurina, Head of Global Commercial Partnerships at MotoGP, expressed enthusiasm for the integration of GoPro cameras into the series, stating that it will enrich race content and bring audiences closer to the action. Rick Loughery, GoPro's Vice President of Global Marketing and Communications, echoed this sentiment, highlighting the company's excitement to continue partnerships with the iconic racing series and the unique immersive experience provided by helmet-mounted first-person content.
The partnership includes integrated activations at events, custom content collaborations with athletes and teams, and exclusive behind-the-scenes experiences that will be shared across GoPro's digital platforms. With trailing twelve-month revenue of $896 million and a market capitalization of $166 million, GoPro faces challenges with a 13% year-over-year revenue decline. Detailed analysis of GoPro's financial performance and growth prospects is available in the comprehensive Pro Research Report on InvestingPro. Fans are promised immersive storytelling that showcases every intense moment of the races in GoPro's signature high-quality footage.
GoPro is known for its versatile and rugged POV cameras, featuring Emmy Award-winning HyperSmooth video stabilization and durable, waterproof designs capable of capturing footage in challenging conditions. The partnerships with MotoGP and MXGP are expected to leverage these capabilities, offering fans new ways to connect with their favorite sports and athletes.
This news comes as part of GoPro's ongoing efforts to help the world capture and share experiences in immersive and exciting ways. With the company's next earnings report due in 13 days on February 5, 2025, investors can access exclusive financial insights, Fair Value analysis, and over 30 additional ProTips through InvestingPro. The information is based on a press release statement from GoPro, Inc.
In other recent news, GoPro, Inc. has exceeded its Q3 2024 revenue expectations, reporting $259 million and marking an 11% year-over-year increase in subscription and service revenue. The company also announced a strategic plan to reduce operating expenses to $250 million by 2025, down from $360 million in 2024. These developments come in light of various challenges, including macroeconomic headwinds, competitive pressures, and product launch delays.
In line with its innovation strategy, GoPro launched new products, including the HERO 13 Black and a $199 entry-level HERO camera. The company also expanded its retail presence by over 6,300 new outlets since May 2023. Despite anticipating lower unit sales and revenue in 2025, GoPro expects improvements in the average selling price (ASP) and gross margin.
CEO Nicholas Woodman expressed optimism for growth in 2026, driven by new product launches and an expanded retail footprint. The company is also focusing on alternative capture cameras and leveraging technology and patent portfolios for future growth. However, GoPro is undergoing an investigation, expected to conclude in 2025.
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