Gutenberg Research
  • Home
  • Models
  • Education
    • Cooperative Education Program >
      • Enroll Today >
        • Program Enrollment (Virtual)
        • Program Enrollment (Bootcamp - Boston)
        • Program Enrollment (Bootcamp - New York)
      • Training Hub (Winter'22-'23) >
        • Meetings >
          • Kick-off Call/Orientation (Winter'22-'23)
          • Meeting 1: Building the Model (Winter'22-'23)
          • Meeting 2: Entering Your Forecast Into The Model (Winter'22-'23)
          • Meeting 3: Target Valuation (Winter'22-'23)
          • Meeting 4: Live Starbucks Release (Winter'22-'23)
          • Meeting 5: Live FOMC Policy Release & ERP Update (Winter'22-'23)
        • Classes >
          • Class 1 - Introduction to Financial Modeling (Winter'22-'23)
          • Class 2 - Building the Income Statement (Winter'22-'23)
          • Class 3 - Balance Sheet and Cash Flow Modeling (Winter'22-'23)
          • Class 4 - Model Calibration & Forecasting (Winter'22-'23)
          • Class 5 - The DCF Inputs: Beta, ERP, CAPM, & WACC (Winter'22-'23)
          • Class 6 - Discounted Cash Flow Valuation (Winter'22-'23)
          • Class 7 - Market Multiple-Based Valuation (Winter'22-'23)
          • Class 8 - How to Use Your Earnings Model (Winter'22-'23)
    • Books >
      • Procrastinator's Guide - SBUX >
        • Templates - SBUX
      • Book Registration - Third Edition >
        • Templates - Third Edition
      • Book Registration - Second Edition >
        • Templates - Second Edition
  • About
    • Contact
    • Email Distribution Sign-up
    • Terms of Use
    • Privacy Policy

GoPro Inc (NASDAQ:GPRO) Earnings Model


Revenue Modeling Approach: This model uses growth rates to project the total number of GoPro cameras sold each quarter, then applies an average revenue per unit (our proxy for average selling price) to arrive at total projected revenue. Expectation for new product launches are included in both the unit sales expectations and average selling price per unit.
Expense Modeling Approach: To estimate Cost of Revenue we use forecasts of Gross Margin percentage, and use ratios for each of the three operating expense line items: Research & Development, Sales & Marketing, and General & Administrative Expense. We use historic averages to estimate Other Income, and apply an effective tax rate to the future projected income to forecast the Provision for Income Tax.
Non-GAAP Adjustments: Historically GoPro’s non-GAAP adjustment have been primarily made up of Stock-Based Compensation (SBC) expense, Amortization of Intangibles, and Amortization of POP Displays. In the last few quarters management has also allocated some expenses to Restructuring Costs. We include We project SBC based on the ratio of SBC-to-Revenue, and Amortization based on historic averages.
Share Count Forecast: To forecast the future share count we calculate the historic change in share count, and apply similar changes in future periods.
Download Model
Subscribe for GPRO Model Updates

Gutenberg Research is a media and education company. The information presented on our website and within Gutenberg Research models, files, or other content does not represent investment advice. Data and information presented on this website, or on third party websites posted by us, within our models, files, and other content is for demonstration only, and is presented “as is”. Neither Gutenberg Research nor any Gutenberg Research agents or associates are liable for any errors, delays, incompleteness of data presented, or for actions taken based on reliance on any information contained on this website or within Gutenberg Research models or other content. Investors should consult a professional investment adviser prior to making investment decisions. By accessing this site and/or receiving our models or other content you are deemed to have read and agreed to our Terms of Use posted on this website. This website uses Cookies, refer to our Privacy Policy for details. The Gutenberg Research logo is among the registered and unregistered trademarks of Gutenberg Research LLC. © Gutenberg Research LLC 2023. All Rights Reserved.