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GoPro Hero 7 topic
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    Joshua Kehoe

    Can you give us any insight into what features or design changes we can expect from the refresh lineup?

    Nick Woodman

    No, I can't share any details other than this year's lineup is really quite heavily influenced by customer request. And years previous, we were more building towards our own internal vision of what would make a great GoPro, but with the 2018 lineup we went and asked our customer what they would like to see from us and that's what we built into the new product line.

    Joshua Kehoe

    You kind of touched on this already, but what are the other key differences between this holiday season and maybe fourth quarters and years past?

    Nick Woodman

    I think the biggest difference this fourth quarter is that we are launching a complete refresh of our HERO camera lineup at the $199, $299, $399 price points. We haven't had a complete refresh of that line up since 2012. And this is in response to the clear market data that consumers want to see new products from us every year, much more so than just discounts on older product. And also we recognize we can't leave older product out at its original pricing and that's what really hurt us last year was we left our $299 and $399 products out for a second year in a row at those prices and we saw sell-through drop significantly.

    We are not doing that again this year. So that's good. And we also have a entry-level product this holiday, whereas last year we did not. And that's just -- that’s a -- that was a significant hit in terms of sell-through. It's a very important price point, obviously for attracting new customers as well as selling to gift givers. So we’ve got entry-level product this holiday and we have all three new HERO cameras at traditionally attractive prices of $199, $299, $399, which model out to what looks like a healthy Q4 and as well this year's product line up is heavily influenced by our customers interest more so than any other year. We designed this year's products based on input from our customers, what asking them what do they really want to see from us. As we’ve shared half of our customer -- active customer base is using HERO4 and older generation GoPros.

    While that’s great to see that they're still getting value out of their older GoPros and we build durable product that last for years. It raises the question of why haven't people upgraded?. And so to address that question, we went and asked them what they would like to see from us. We built that request list into our new products. And on top of that, we're taking a more feature centric approach to our marketing. This holidays you'll see where it's not just about beautiful bold aspirational images captured with the GoPro, our marketing will do a much better job of actually explaining the new features and why consumers should care about them. So across the board we’re feeling much better about our approach this fourth quarter than last year.

    Brian McGee

    As we’ve looked at the year and are discussing on earnings call, our expectation is we sell-through 5 million units

  • Launch date is September 20.

    Full leak:

    GoPro Hero 7 Black:

    4K60, 2.7K 120, 1440p120, 1080p 240 (same as Hero6)

    Based on Hero6 GP1 processor, but with an internal optimization

    Same shape, same battery, same frame as Hero5/6

    [NEW] Live streaming function (not clear if using 4g/phone/wifi)

    [NEW] Hypersmooth stabilization provides gimbal-like stabilization, probably better than the Hero6

    [NEW] HDR (I’m guessing proper 3bracket HDR)

    [NEW] Portrait orientation

    [NEW] Scene / smile recognition

    [NEW] New feature which makes short looping videos of 15 /30 seconds (boomerang style I'm guessing)

    [NEW] Photo timer (remember Hero2?)

    Price: 399 USD

    Sensor size: same as Hero6 (12MP 4000x3000)

    Other features (from Hero6): GPS, voice control, touchscreen, Auto backup to phone and to GoPro Plus

  • The lens look different and larger on the black than the white and silver. Also different from the Hero6.

    1390 x 920 - 1M
  • Features:

    • Hypersmooth stabilization

    • Timewarp video (slow motion with frame interpolating)

    • Live streaming

    • Auto download to phone

  • Nice one printing the model number in VISIBLE markings this time. :-p

  • Small leaks



    736 x 490 - 49K
    716 x 692 - 78K

    Summary GoPro's Q2 results were nothing to write home about.

    Company fundamentals continue to deteriorate.

    Short covering was likely the reason shares rallied.

    GoPro's (NASDAQ:GPRO) Q2'18 results beat both on the top and the bottom line. The company on an adjusted basis lost $0.15 per share, and revenue was $283M, beating by about $13M.

    However, revenue was down 4.6% Y/Y, and EPS deteriorated Y/Y, as the company last year lost only $0.09 per share vs. $0.15 for the current quarter.

    The company also pointed out that revenue Q/Q was up 40% sequentially. Please note that last year's Q2 revenue was also about 40% higher than Q1. So on average, I do not see anything improving much with the business.

    Yes, GoPro cameras held 97% of the action camera category in dollar volume, and the company has the top 5 best-selling cameras as was mentioned in the conference call.

    Yes, Fusion captured 48% of the corresponding market in the U.S., and GoPro's market share in Japan increased 58%; however, all these fine statistics are not doing much for revenue growth and profitability.

    As for guidance, it was heartbreaking at best. The company forecasted Q3 revenue to be in the range between $260M and $280M, when last year for the same quarter revenue came in at $330. In other words, the company is telling us revenue will be about 20% less Y/Y for Q3.

    For Q4, the company is projecting revenue in the range between $380M and $400M vs. $334M last year, or about a 20% increase. However, please note GoPro will be introducing three new cameras for the second half of 2018, so it is only natural that these sell higher during the holiday season.

    Turning to the balance sheet, I see a continued deterioration. Cash and equivalents as of June 30 were 140M vs. 245M Y/Y. This despite inventories falling by almost 50% to $86M vs. $150M last year.

    Total liabilities were $438M vs. $551M last year; however, please note that total assets were reduced by about $225M Y/Y. In other words, the reduction in total assets was twice that of total liabilities. I consider this a deterioration of the balance sheet. While the company is not in financial strain yet, if this deterioration continues, it will eventually find itself in a difficult position.

    Perhaps the only positive was that non-GAAP gross margins edged up a bit to 31% from 24% in Q1. But when one looks on a comparative Y/Y basis, last year this time around gross margins were 36%. So even on a gross margin basis, things are deteriorating.

    The company forecasted it will be profitable for the second half of 2018; however, for the full year, it still expects to lose $25-35 million.

  • LOL. They stil have cash for another 12 - 24 months. I guess we will know in january 2019 @Vitaliy_Kiselev .

    The Q4 is GoPros golden sales period.

    Or maybe allready in december if there is a substantial price reduction again this year as it happened last year with the Hero6 (and the older models). But at least they are not targeting a 500 USD level for the high end BLACK this year!

  • @EspenB

    I wonder about only one thing - how this guys still afloat?

  • The Hero7 range based on current rumours and FCC leaks:

    Hero7 WHITE - 200 USD

    Based on Hero6 Black hardware. Software limited to HD res only. No GPS.

    Hero7 SILVER - 300 USD

    Based on Hero6 Black hardware. More or less the same camera as todays Hero6. Maybe software limited to 4K/30.

    Hero7 BLACK - 400 USD

    Based on updated GP1 (GP2?) chip with improved processing power. 4K/60. Maybe image stabilization and linear view also for 4K.

    A tweaked user interface across the range.

  • Updated info on the new 2018 range which will probably be released in late september. GoPro Inc has a presence at the upcomming Photokina show so we are likely to see new cameras here. It would be a waste of time to show Hero6 at Photokina and then launch the Hero7 series the next week in october IMO.

    Bluetooth certifications confirm the continuing existence of the Hero6 (product code "SPCH1") as well as "S" and "W" versions. Presumably the WHITE, SILVER and BLACK range is back. The silver is probably hardware identical to the Hero6. The white might be a Hero6 with crippled firmware as indicated in the previous posting. I think the Hero5/Hero2018 which still uses an Ambarella processor is likely to get retired.

    Also Woodman have confirmed the release of three new models priced at 200, 300 and 400 USD respectively in the investor presentation earings call earlier in august.

    Hero7 Black will have updated GP1 processor according to statements at Reddit.

    But it seem pretty obvious that each of the three new cameras must performe slightly better than the previous three models at the same 200, 300, 400 USD price points... Woodman stated that the new range would be cheaper to manufacture and thus provide for higher profit margins for the company and still have more features for the consumer.


    According to this FCC report GoPro is getting ready to release 2 cams.

    The 1st one is dark grey colored SPTM1(Version S) capable of shooting in 4K30, 1440p60 and 960p90 video modes. This camera has GPS feature.

    The other one is light grey SPTM1(Version W), it seems to be something like a 'lite' version with video recording up to 1440p60/p30, no GPS.

  • Looks like one of the upcomming GoPro cameras is designated SPTM1.