AUSTRALIA – GoPro (NASDAQ: GPRO), a San Mateo, CA-based acquired Forcite Helmet Systems, a Sydney, Australia-based company which specializes in embedding technology into helmets.
The amount of the deal – which is expected to close in Q1 of 2024, subject to customary closing conditions – was not disclosed.With the acquisition, GoPro will accelerate Forcite’s vision to provide a safer, more dynamic motorcycling experience through tech-enabled motorcycle helmets with the long-term goal of tech-enabling other categories of helmets over time.Founded in 2002 by Nick Woodman, GoPro is the manufacturer of popular action cameras and develops its own mobile apps and video-editing software, as well as related accessories. in Q3 2023, the company’s revenue was $294m, 5% above the mid-point of guidance and down 4% year-over-year. Revenue from the retail channel was $231m, or 78% of total revenue and up 12% year-over-year. GoPro.com revenue, including subscription and service revenue, was $63 million, or 22% of total revenue and down 36% year-over-year. Subscription and service revenue increased 16% year-over-year to $25m. Adjusted EBITDA was $7m, which compared to $35m in the prior year period.17/01/2024
