GoPro CEO forgoes salary to cut costs

SAN MATEO, CA – GoPro, Inc. (NASDAQ:GPRO), the action camera maker with a market capitalization of $120 million, has announced a significant step in its cost reduction strategy. The announcement comes as the company faces challenging conditions, with revenue declining 20% over the last twelve months to $801 million. Nicholas Woodman, the Chief Executive Officer, has volunteered to waive his salary for the remainder of 2025, effective March 19, 2025. This move is part of the company’s broader efforts to decrease operating expenses. According to InvestingPro analysis, the stock currently appears undervalued based on its Fair Value assessment.

The CEO’s decision is formalized through a Waiver Agreement, which stipulates that the salary waiver shall not be construed as "Good Reason" or "Change in Control Good Reason," as defined in Woodman’s Employment Letter from June 2, 2014. Consequently, the salary reduction will not affect his right to terminate employment for a good reason nor trigger any compensatory payments. The move comes as GoPro’s stock has declined over 64% in the past year, with the shares currently trading at $0.76.

The waiver is expected to impact Woodman’s participation in certain benefit plans negatively. However, the agreement explicitly states that Woodman will not receive any compensation to offset the effects of the salary waiver.

GoPro has filed the full text of the Waiver Agreement with the Securities and Exchange Commission (SEC), providing the opportunity for shareholders and the public to review the details of this arrangement.

The company has also issued a cautionary note regarding forward-looking statements in the SEC filing. While the salary waiver is anticipated to result in savings, GoPro acknowledges that there are inherent risks and uncertainties in such projections. The company’s future financial performance could vary significantly from expectations due to various factors, including the effectiveness of cost reduction efforts.

GoPro’s latest financial documents filed with the SEC outline the potential risks related to the business and the cost-cutting strategies. The company has committed to not updating any forward-looking statements based on new information or future events.

This cost-saving measure by GoPro’s CEO is part of the company’s ongoing efforts to streamline operations and improve its financial standing. The company’s financial health score on InvestingPro is currently rated as "Weak," with negative EBITDA of $102 million in the last twelve months. The information reported is based on a press release statement from GoPro, Inc. For deeper insights into GoPro’s financial metrics, valuation, and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers.

In other recent news, GoPro Inc . has launched a new Polar White edition of its HERO13 Black camera, priced at $399.99. This limited edition retains its high-end features, such as 5.3K60 video recording and HyperSmooth 6.0 video stabilization, and is available globally. GoPro has also introduced advancements in its 360-degree camera technology with the refreshed MAX 360 camera, which now comes with a new battery and improved mounting system, retailing at $349.99. Additionally, GoPro has secured a distribution partnership with Kimpex in Canada, expanding its product availability through Kimpex’s network of over 2,300 dealers. The company has further strengthened its market presence by partnering with MotoGP and MXGP to provide immersive race views using its HERO13 Black cameras. These collaborations will offer fans high-resolution, first-person content from the races. GoPro’s recent activities reflect its ongoing commitment to enhancing user experience and expanding its reach in the global market.

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