GoPro files for a $100 million IPO

GoPro is preparing to go public, by filing an IPO with the US Securities and Exchange Commission. Initially revealed in plans in February, the S-1 document filed by the action camera manufacturer reveals it is looking to raise $100 million in the IPO, and will be listed on NASDAQ using the ticker symbol GPRO, though the exact timing and how may shares will be available to buy are unknown. The filing claims the company generated annual revenues of $234.2 million, $526.0 million, and $985.7 million in the year 2011, 2012, and 2013 respectively, with the revenue for the first three months of 2014 hitting $235.7 million, reports TechCrunch. 

This afternoon GoPro filed its S-1 document with the SEC, detailing its financial performance as it looks to go public. The company states that it will raise up to $100 million in the offering, trading on the NASDAQ under the ticker symbol ‘GPRO.’ The company’s revenue expansion has been impressive, with top line in 2011 of $234.23 million leading to 2012 top line of $526.01 million and finally, in 2013, revenue of $985.73 million. The company is GAAP profitable to boot, reporting $60.57 million in profit in 2013, up from a more modest $32.26 million in 2012. The company’s adjusted EBITDA — a very, very non-GAAP number — for 2013 totaled $133.72 million. How many cameras does the maker ship each year? In 2013 that figure was 3,849 (net of returns), up from 2,316 in 2012, and 1,145 in 2011. Ok, I forgot to convert those figures, by, ahem, a factor of 1,000. Thanks to @BobCasey for pointing out the error. Now, the real figures: 2011: 1.14 million units. 2012: 2.31 million units. 2013: 3.84 million units.