StockWatchIndex Initiates Coverage on GoPro (NASDAQ: GPRO)
Los Angeles, California, September 10, 2014 – StockWatchIndex, LLC (SWI), a leading provider of financial information and advisory services for publicly traded companies on the NYSE, NASDAQ and OTCBB, today announced that it has initiated coverage on GoPro.
SWI has been carefully monitoring GoPro's development for a long time, from a small private company in San Mateo, California to a dominating market force, launching a successful IPO. We have picked GoPro, because it fits the characteristics that we have set for our advocacy of promising public companies; leading edge technology, a good business model and a management with a good track record that can implement an innovative business plan on a timely basis. We expect GoPro to show sustained and substantial growth over the years to come.
GoPro is transforming the way consumers capture, manage, share and enjoy meaningful life experiences. It does this by enabling people to capture compelling, immersive photo and video content of themselves participating in their favorite activities. GoPro customers include some of the world’s most active and passionate people.
The volume and quality of their shared GoPro content, coupled with their enthusiasm for the brand, are virally driving awareness and demand for GoPro products. GoPro was founded in 2004 to address the limitations of traditional cameras. In 2004, it shipped its first product, a wrist-mounted, waterproof, film-based capture device, and in 2006 it shipped its first digital capture device, the Digital HERO.
As of June 30, 2014, GoPro products were sold to customers in more than 100 countries and through more than 25,000 retail outlets.
• Completed Initial Public Offering at $24 per share raising $200.8 million, net
• Revenue increased 38% year-over-year to $244.6 million; up 4% sequentially
• Revenue strength with Big Box and Mid Market Retailers
• Gross Margin expansion of 990 bps year-to-year & 110 bps sequentially to 42.2%
• Number of GoPro videos published on YouTube up over 160% Y/Y; views on YouTube up 200% Y/Y; video minutes on YouTube up over 270% vs. Q2 2013
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