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165

Archive: https://archive.today/gMgrA

From the post:

>GoPro issued a going-concern warning after memory prices rose 80-115%. Revenue fell 26%. It’s exploring a sale, a defence pivot, and 23% staff cuts. GoPro warned on Monday that there is “substantial doubt about the company’s ability to continue as a going concern.” The action-camera maker reported a 26% revenue decline in Q1 and expects to breach several loan covenants. Shares fell as much as 14%. The cause is memory. GoPro said its earnings forecast has been “significantly impacted” by an 80% to 115% increase in memory prices. In April, suppliers informed the company of a planned reduction in memory supply that would further reduce forecasted sales. The same DRAM reallocation that is killing the cheap smartphone is now threatening to kill GoPro.

Archive: https://archive.today/gMgrA From the post: >>GoPro issued a going-concern warning after memory prices rose 80-115%. Revenue fell 26%. It’s exploring a sale, a defence pivot, and 23% staff cuts. GoPro warned on Monday that there is “substantial doubt about the company’s ability to continue as a going concern.” The action-camera maker reported a 26% revenue decline in Q1 and expects to breach several loan covenants. Shares fell as much as 14%. The cause is memory. GoPro said its earnings forecast has been “significantly impacted” by an 80% to 115% increase in memory prices. In April, suppliers informed the company of a planned reduction in memory supply that would further reduce forecasted sales. The same DRAM reallocation that is killing the cheap smartphone is now threatening to kill GoPro.
[–] 4 pts

GoPro hasn't really been doing well for some years, and has been getting their lunch eaten by newcomers.

Memory costs are probably just one big scoop of dirt in the hole that they're buried in.

[–] 1 pt

GoPro is overpriced and not as versatile as it should be, and from what I remember they focused mainly on area of extreme sports.

Now you can get 5 different specialized cameras from Temu for price of one GoPro, and it won't be a loss if you break one by accident.

I don't think memory is the problem here.