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8-K ·Filed Jun 1, 2026

GPRO

GoPro, Inc.
BEARISH
Impact 9/10
Horizonimmediate Processed4mo ago SEC0001628280-26-039297
8-K context-dependent: Items 8.01
Actionable Insight ▼ Bearish

The going-concern qualification and potential cross-default acceleration create imminent bankruptcy risk. Monitor for covenant waiver announcements or restructuring developments. The stock may face delisting if Nasdaq listing standards are breached. Any equity issuance or distressed sale would severely dilute or wipe out common equity.

DirectionBearish
Confidencehigh
Horizonimmediate
Final — all horizons settled through T+60d ⚠ clustered
GPRO ▼ -44.69% at T+60d
SHORT call ✓ call won +44.69% · α vs SPY +45.92% · entry $1.10 → $0.6084
Entry = T+0 close
Jun 1, 2026
via day close
T+1d
+4.09%
call -4.09% · α -3.95%
$1.15
settled 5mo ago
T+5d
-18.18%
call +18.18% · α +15.43%
$0.9000
settled 5mo ago
T+20d
-29.27%
call +29.27% · α +27.97%
$0.7780
settled 4mo ago
T+60d
-44.69%
call +44.69% · α +45.92%
$0.6084
settled 2mo ago

Price Chart

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Executive Summary

GoPro refiled its 2025 audited financial statements with a going-concern qualification from PwC, stating substantial doubt about the company's ability to continue as a going concern. Revenue fell 19% YoY to $652M, net loss was $93M, and cash dropped to $49.7M. The refiling may trigger default across its credit facilities and convertible debentures, which include cross-default provisions, potentially accelerating ~$66M in debt. The company is in active discussions with lenders and exploring a sale or merger.

Key Facts

  • Auditor PwC issued a going-concern explanatory paragraph in its 2025 audit opinion
  • Revenue declined 19% YoY to $651.5 million in 2025
  • Net loss of $93.5 million in 2025 vs. $432.3 million in 2024 (includes a non-cash $299M tax charge in 2024)
  • Cash and cash equivalents fell 52% to $49.7 million as of Dec 31, 2025
  • Operating cash flow negative $20.7 million in 2025
  • Company expects non-compliance with financial covenants in Q2 2026; lenders may call defaults
  • Refiling of financials with going-concern paragraph may constitute an Event of Default under credit agreements
  • Cross-default provisions across $50M 2025 Term Loan (Farallon), $35M revolving credit facility (Wells Fargo), and $50M convertible debentures (Yorkville)
  • Announced 23% workforce reduction in April 2026; exploring strategic alternatives including a sale
  • Memory costs surged 80-115% in March 2026, further pressuring margins and liquidity

Financial Impact

Potential acceleration of ~$66M in total contractual debt obligations; $152.9M in total contractual cash obligations including $71.3M due within 12 months

revenuenet_losscashdebtoperating_cash_flowliquidity

Risk Factors

  • Acceleration of debt and inability to repay, leading to bankruptcy
  • Cross-default triggers across all three credit facilities simultaneously
  • Further dilution from convertible debentures and warrants
  • Nasdaq delisting if stock price remains low
  • Distressed sale or merger at negligible valuation for common shareholders

Market Snapshot

Exchange
Nasdaq
Sector
Photographic Equipment & Supplies
Analyst Consensus
0% bullish (7 analysts)

Investment Themes

Consumer & Retail

Documents Analyzed

This report is based on 6 SEC documents filed with EDGAR.

DocumentAccession Number
8-K Filing (Primary)0001628280-26-039297
Document: gpro-20260601.htm0001628280-26-039297
Document: gpro2026-05x29exhibit231.htm0001628280-26-039297
Document: 0001628280-26-039297-index-headers.html0001628280-26-039297
Document: 0001628280-26-039297-index.html0001628280-26-039297
Document: 0001628280-26-039297.txt0001628280-26-039297
23 reports for GPRO
Performance horizon
58% Hit rate @ T+5 7 of 12 directional calls Went positive at some point 13 of 18 best @ T+60▲ +47.09%May 22, 2026
Filters
Rows
Reports for GPRO — sortable, filterable
TypeNow
Oct 20, 2026
5d ago
DEFA14A
NEUTRAL ★ 4/10
$1.07awaiting T+5—$1.03 (−3.29%)
Oct 19, 2026
7d ago
DEFA14A
MIXED ★ 6/10
$1.04awaiting T+5—$1.03 (−0.96%)
Oct 19, 2026
7d ago
Press Release
BEARISH ★ 7/10
$1.04awaiting T+5—$1.03 (+0.96%)
Oct 19, 2026
7d ago
PREM14A
BULLISH ★ 7/10
$1.04awaiting T+5—$1.03 (−0.96%)
Oct 19, 2026
7d ago
10-Q/A
BEARISH ★ 7/10
$1.04awaiting T+5—$1.03 (+0.96%)
Oct 19, 2026
7d ago
10-Q/A
BEARISH ★ 8/10
$1.04awaiting T+5—$1.03 (+0.96%)
Oct 19, 2026
7d ago
10-K/A
BEARISH ★ 7/10
$1.04awaiting T+5—$1.03 (+0.96%)
Oct 16, 2026
9d ago
8-K
BEARISH ★ 8/10
$1.04awaiting T+5—$1.03 (+0.96%)
Sep 22, 2026
4w ago
Institutional Cluster
BULLISH ★ 4/10
$1.27 $1.33▲ +4.33%▲ +5.52%$1.03 (−18.90%)
Sep 2, 2026
7w ago
8-K
BULLISH ★ 7/10
$1.39 $1.38▼ −0.72%▲ +0.43%$1.03 (−25.90%)
Showing 10 of 23

US Market Status

Market Closed — Opens Tue (16h 39m)

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Report published Jun 1, 2026