It's amazing to witness the abbreviated product life cycles of high tech (especially camera) gadgets. In some ways, it's akin to watching a circus act: "Okay, balancing all those spinning plates at one time was fun, but I've already seen that. NOW what are you going to do to get me to fork over my money???" If no better second act, no business. The competition is fierce.

GoPro, Inc. (NASDAQ: GPRO) today reported certain preliminary financial results for the fourth quarter and year ended December 31, 2015.

GoPro expects revenue to be approximately $435 million for the fourth quarter of 2015 and $1.6 billion for the calendar year. Fourth quarter revenue reflects lower than anticipated sales of its capture devices due to slower than expected sell through at retailers, particularly in the first half of the quarter. Fourth quarter revenue includes a $21 million reduction for price protection related charges resulting from the HERO4 Session repricing in December. Non-GAAP gross margin for the fourth quarter of 2015, excluding the impact of price protection and a charge of between $30 million and $35 million to cost of revenue for excess purchase order commitments, excess inventory, and obsolete tooling is anticipated to be between 44.5% and 45.5%. Non-GAAP gross margin for the fourth quarter of 2015 is anticipated to be between 34.5% and 35.5%. Non-GAAP operating expenses for the fourth quarter of 2015 are estimated to be between $150.0 million and $152.5 million. Cash, cash equivalents and marketable securities at December 31, 2015 totaled approximately $475 million.

These preliminary, unaudited results are based on management's initial review of operations for the quarter and year ended December 31, 2015 and remain subject to the completion of the Company's customary annual closing and review procedures. Final adjustments and other material developments may arise between the date of this press release and the dates GoPro announces fourth quarter 2015 results and the filing of the Company's Annual Report on Form 10-K with the SEC.

Zander Lurie Appointed to GoPro Board

Zander has resigned from his role as Senior Vice President of GoPro Entertainment and has been appointed to serve on GoPro's board of directors. Mr. Lurie has deep experience working with Internet-based business models across digital and traditional media. At GoPro Entertainment, he built a team dedicated to pursuing new formats and revenue streams from user-generated content and the Company's large cache of digital entertainment. Prior to GoPro, he served as an executive at CBS Corp. which he joined with the acquisition of CNET Networks where he served as CFO and head of Corporate Development. Mr. Lurie began his career in the technology investment banking group at J. P. Morgan where he led equity transactions and mergers and acquisitions in the Internet sector.

Reallocation of Resources

Over the past two years, GoPro's headcount has grown by more than 50% annually, to more than 1,500 employees at the end of 2015. To better align resources to key growth initiatives, GoPro has implemented a reduction in its workforce of approximately 7 percent. The Company estimates it will incur approximately $5 million to $10 million of restructuring expenses in the first quarter of 2016, substantially all of which will be severance costs.

Fourth Quarter and Full Year 2015 Earnings Conference Call

GoPro will release its financial results for the fourth quarter and full year 2015 after the market closes on February 3, 2016.

GoPro management will host a conference call and live webcast for analysts and investors on February 3, 2016 at 2 p.m. Pacific Time (5 p.m. Eastern Time) to discuss the Company's financial results.

Marc Andreessen predicted GoPro's current problems

Sounds like bullshit.

Just seems like they work against filmmakers, and not with them. They're cocksuckers.

They're somewhat expensive, rarely discounted, very secretive, and that pricing "mistake" just showed arrogance to me.

You mean that they are capitalists looking for profits? Surprise!

there are different ways to do business. Not just one way.

You mean that they must run non profit organization?

As I know only one way of doing real business - you need to have profits and the more - the better. In this way GoPro is very successful.

GoPro results of its final quarter of 2015 - earned $436.6 million in revenue during Q4 of 2015, a 31 percent drop from the company's fourth quarter of 2014. GoPro's stock dropped as much as 15 percent in after hours trading.

They have so many models that I am loosing the track of what is what. With 4K smartphones around, 3rd party no name protective housings, last thing consumers want is to "wrap their heads" about possible choices.

High End model ~less then 300$ Low End model ~ less then 140$

and they would profitt like crazy!!!

Electronic and consumer product makers have to understand that average public is getting poorer and poorer and tired of trying to figure out what product is for what. They are not making it easier for us to buy stuff but quite opposite:

Hero this hero that hero plus hero minus...5Ds 5Dr 5d mark II 5d Mark II....by the time I do all the research what product does what not just that I get lost in nomenculaturical chaos but I also loose the wish to deal with the whole BS. Action cameras are usualy bought for vacation videos. Just to figure out which one to buy is so much stress that geting one kills the point of getting it with you to vacation to relax and shoot video with it.

Time is money and it take quite some time to figure it out...

GoPro also announced a company-wide restructuring that will reduce full-year 2017 non-GAAP operating expenses to approximately $650 million (GAAP: $735 million) and achieve its goal of returning to non-GAAP profitability in 2017. The restructuring includes the closure of its entertainment division, facilities reductions, and the elimination of more than 200 full-time positions plus the cancelation of open positions for a reduction in force of approximately 15 percent.

They're not gonna be able to close that deficit by firing 200 people and consolidating facilities. That will probably only save them around $20 million/yr. They're bleeding $100 million a quarter!

Small progress