GoPro, Inc. (NASDAQ:GPRO) Q4 2022 Earnings Call Transcript

Brian McGee: Yes. I think there’s a couple of factors. And actually, it will play into 2023 as well. So one is, we obviously have the better pricing on GoPro.com and I think that’s the word on that by giving out, we can measure a part of that. Retail coming back probably helped on the DTC front. So that was good on the holiday. I think we had quite a bit of promotional activity on GoPro.com. So we were being bashful in driving sales and margin and subscribers. So the sub aspect to this is very important, because that’s where we get some real good lifetime value going into 2023, 2024, 2025 with those customers. And then, of course, our revenue from subscription and service being $22 million in the quarter and about $82 million on the year really helps on the GoPro.com front.

And so as we look ahead, as we drive more than $100 million of subscription and service revenue and continue to drive GoPro.com, we’ll probably be over 40% on our B2C business in 2023, right? This directional trend is moving that way partly because we’ve got a very good competitive position on GoPro.com, but also the growth of subscription and service revenue.

Martin Yang: Got it. Thank you very much.

Operator: Thank you for your question. There are no additional questions waiting at this time. So I’ll pass the call back to the management team for any closing remarks.

Nicholas Woodman: Thank you, operator, and thanks, everyone, for joining us today. As we mentioned, we’re really excited for the year ahead despite macroeconomic challenges. We’re investing in the people, technologies and innovation to continue releasing market leading hardware and software products that we believe will continue to grow our subscription business and position us well for when the global economy recovers. So here’s to the start of GoPro’s 21st year as a market leading company. Let’s go. This is team GoPro signing off.

Operator: That concludes the conference call. Thank you for your participation. You may now disconnect your lines.