There have been a lot of ups and downs for GoPro over the past few years. Mostly down's, including (most of) their quarterly earning reports and the crash and burn of a highly anticipated drone launch. However, today was a good day for the most recognized action cam on the market.
Their Q2 earnings are in, and they are, well, bad - but, that's a good thing considering how terrible they have been over the past few quarters. They aren't in the red, just less in the black. At $297 million in sales, GoPro notched a 34-percent increase over their Q2 2016, a quarter that marks their worst ever.
"GoPro is building momentum," founder and CEO Nicholas Woodman said in a statement. "Strong demand combined with our cost management and margin initiatives contributed to GoPro's EBITDA positive performance in the second quarter."
GoPro has also been running lean these days, cutting 270 employees earlier this year, for a running total of about 570 over the past 20-months. Completely shutting down their entertainment divisions, shifting the focus back to their bread and butter - the action cam. Specifically, the Hero 5 Black that powered through a small production hiccup after some slight manufacturing issues.
GoPro also maneuvered their Karma back to form, since the recall, becoming the second best selling drone last quarter only falling to heavyweight DJI.
With the Karma soaring, a streamlined product portfolio, and a selection of emerging camera rigs, GoPro looks to finally turn a profit after hemorrhaging money for so long. The market is absolutely saturated with competitors, but GoPro certainly has the staying power to reclaim the throne.