“GoPro’s (GPRO) transition from a hardware unit to a direct-to-consumer subscription business seems to be going well, based on its impressive 1Q 2021 results. The company delivered a 71% year-over-year increase in revenues to $204 million. Gross margin was up 6.4% to 38.6%. GoPro bounced back and reported a narrowed loss of $10 million vs. $64 million in the comparable quarter. Adjusted EBITDA also improved to positive $11 million from negative $41 million delivered in 1Q 2020. Net loss per share came in at $0.07, a significant improvement from $0.43 in 1Q 2020.”
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