GPRO - GoPro Non-GAAP EPS of $0.19 beats by $0.03 revenue of $305M beats by $7.62M

• GoPro press release ( NASDAQ: GPRO ): Q3 Non-GAAP EPS of $0.19 beats by $0.03 .
• Revenue of $305M (-3.7% Y/Y) beats by $7.62M .
• Shares +5.6% .
• Revenue was $305 million, down 4% on a dollar basis, and up 2% in constant currency compared to the prior year period.
• GoPro.com revenue, including subscription and service revenue, increased 4% year-over-year to $99 million, or 32% of total revenue. Subscription and service revenue increased 48% year-over-year to $21 million.
• GoPro subscriber count increased 55% year-over-year to 2.1 million.
• Third quarter cash net of debt was $205 million, nearly doubling from $110 million in Q3'21.
• GAAP and non-GAAP gross margin was 38.0% and 38.2% respectively, down from the prior year period at 43.6% and 43.8%, respectively.
• GAAP net income was $18 million, or $0.10 per share, down year-over-year from net income of $312 million or $1.92 per share, which was primarily driven by the release of a $263 million tax valuation allowance during the third quarter of 2021.

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