GoPro's Diversified Camera Supply Chain Minimizes Tariff Impact
SAN MATEO, Calif., Feb. 3, 2025 /PRNewswire/ -- GoPro, Inc. (NASDAQ:GPRO) today announced that its diversified supply chain mitigates the potential impact of U.S. tariffs. The company does not expect U.S. consumer pricing or gross margin to be materially affected by recent U.S. tariff announcements on in-bound goods to be sold in the U.S.
"Over the last few years, we proactively moved our U.S.-bound camera production outside of China, which has significantly reduced the impact of tariffs," said Brian McGee, CFO and COO of GoPro. "We are continuously evaluating and optimizing our supply chain to improve delivery of our products at lower cost."
GoPro will release its financial results for the fourth quarter and year ended December 31, 2024, after the market closes on Thursday, February 6, 2025. GoPro management will host a conference call and live webcast following the release at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the Company's financial results. A webcast link and management commentary will be posted on the "Events & Presentations" section of the Company's Investor Relations website at gopro.com prior to the start of the call.
About GoPro, Inc. (NASDAQ:GPRO)
GoPro helps the world capture and share itself in immersive and exciting ways.
GoPro has been recognized as an employer of choice by both Outside Magazine and U.S. News & World Report for being among the best places to work. Open roles can be found on our careers page. For more information, visit GoPro.com.
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This press release may contain projections or other forward-looking statements within the meaning Section 27A of the Private Securities Litigation Reform Act. Words such as "anticipate," "believe," "estimate," "expect," "intend," "should," "will," "plan" and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements in this press release may include but are not limited to statements regarding Company expectations on the impact of U.S. tariffs on Company products which are imported into the United States, the impact of tariffs on gross margin, operating expenses and expectations for profitability. These statements involve risks and uncertainties, and actual events or results may differ materially. Among the important factors that could cause actual results to differ materially from those in the forward-looking statements include the inability to achieve profitability if there are changes in tariff rates; the fact that an economic downturn or economic uncertainty in our key U.S. and international markets, inflation, and fluctuations in interest rates or currency exchange rates may adversely affect consumer discretionary spending and demand for our products; our reliance on third-party suppliers; the risk we fail to manage our operating expenses effectively; the fact that we rely on sales of our cameras, mounts and accessories for substantially all of our revenue, and any decrease in the sales or change in sales mix of these products could harm our business; the risk that we may not successfully manage product introductions, product transitions, product pricing and marketing; the effects of global conflicts and geopolitical issues and its effects on the United States and global economies and our business in particular; and other factors detailed in the Risk Factors section of our Annual Report on Form 10-K for the year ended December 31, 2023, which is on file with the Securities and Exchange Commission (SEC), and as updated in filings with the SEC including the Quarterly Report on Form 10-Q for the quarter ended September 31, 2024. These forward-looking statements speak only as of the date hereof or as of the date otherwise stated herein. GoPro disclaims any obligation to update these forward-looking statements.
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SOURCE GoPro, Inc.