GoPro, Inc.

Hello, everyone. Thank you for joining us and welcome to the GoPro first quarter 2026 earnings conference call. After today's prepared remarks, we will host a question and answer session. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. I will now hand the conference over to Robin Stecker, Director of Corporate Communications. Please go ahead.

Thank you, Rebecca. Good afternoon and welcome to GoPro's first quarter 2026 earnings conference call. With me today are GoPro's CEO, Nicholas Woodman, CFO, Brian Trapp, and President and COO, Brian McGee. Today's agenda will include brief commentary from Nick and Brian, followed by Q&A. For detailed information about our first quarter performance, please read our Q1 2026 earnings press release and management commentary we've posted to the investor relations section of GoPro's website. Before I pass the call to Nick, I'd like to remind everyone that our remarks today may include forward-looking statements. Forward-looking statements and all other statements that are not historical facts are not guarantees of future performance and are subject to a number of risks and uncertainties which may cause actual results to differ materially. Additionally, any forward-looking statements made today are based on assumptions as of today. This means that results could change at any time. and we do not undertake any obligation to update these statements as a result of new information or future events. To better understand the risks and uncertainties that could cause actual results to differ from our commentary, we refer you to our most recent annual report on Form 10-K for the year ended December 31st, 2025, which is on file with the Securities and Exchange Commission and other reports that we may file from time to time with the SEC. Today, we may discuss gross margin, Operating expense, net profit and loss, adjusted EBITDA, as well as basic and diluted net profit and loss per share in accordance with GAAP and on a non-GAAP basis. A reconciliation of GAAP to non-GAAP operating expenses can be found in the press release that was issued this afternoon, which is posted on the investor relations section of our website. Unless otherwise noted, all income statement related numbers that are disclosed in the management commentary other than revenue are non-GAAP. Now, I'll turn the call over to GoPro's founder and CEO, Nicholas Woodman.

Thanks, Robin, and thanks, everybody, for joining us today. As Robin mentioned, Brian and I will share brief remarks before going into Q&A, and I want to encourage all on the call to read the detailed management commentary we posted on our investor relations website. In April, we announced that GoPro is formally exploring opportunities in the defense and aerospace sector. having engaged Oliver Wyman, a global leader in defense sector consulting, to assess addressable market segments, product synergies, and go-to-market strategies. GoPro cameras have long been used in demanding defense, government, and aerospace applications, where versatility, durability, industry-leading video stabilization, and image quality are mission critical. And we believe there is a meaningful, scalable opportunity to formalize and grow our presence in these sectors. Following the April announcement of our work with Oliver Wyman, we received several inbound inquiries related to M&A. To capitalize on this interest, GoPro's Board of Directors has authorized the company to engage in a strategic process and to engage a financial advisor to assist with that process and evaluate strategic alternatives in order to maximize shareholder value. We believe there is unrealized value in GoPro's technology, IP, brand, product development, and scaled manufacturing capabilities. And we look forward to exploring how M&A could unlock that value to the benefit of our shareholders. Testament to GoPro's credibility as a mission proven tool for defense and aerospace application is NASA's use of GoPro cameras on the Artemis II mission. On April 1st, the Orion spacecraft launched with modified GoPro cameras mounted externally on its solar array wings. And off-the-shelf GoPro cameras were used inside the ship to capture content for a National Geographic documentary about the mission. Everyone at GoPro is deeply honored that our cameras played even a small role in the historic Artemis II mission. It's incredibly meaningful to all of us. Turning to Q1, We advanced several partnership initiatives designed to broaden GoPro's reach and appeal. In January, we announced an exciting partnership with ASUS, a leading Taiwanese multinational technology company, and launched a co-branded ASUS ProArt GoPro Edition laptop. The laptop was purpose-built by ASUS to support GoPro content creator workflows. ASUS has shared that early traction has far exceeded their expectations for the ProArt line, reinforcing the strength of GoPro's brand in technology collaborations. And in March, we announced our partnership with Dick's Sporting Goods and integration with their Game Changer app, the number one rated youth sports app for scorekeeping and live streaming, which has more than 9 million active users. This partnership combines GoPro's industry-leading video quality with Game Changer's live streaming service, making it easy for families to capture and share game day live. The Game Changer GoPro product bundle, available online at Dick's Sporting Goods, brings together everything families need for seamless, high-quality live streaming of the game. Millions of existing GoPro Hero 13 through Hero 7 Black and Max owners can now pair the GoPro they already own with the Game Day app to start streaming live sporting events. And just last month, we debuted our new Mission 1 series of professional 8K and 4K open-gate compact cinema cameras at the National Association of Broadcasters trade show, the largest television industry trade show in the US. The launch of the Mission 1 series marks GoPro's most significant push into the professional and prosumer creator markets. Featuring a new 50-megapixel 1-inch sensor and GoPro's new ultra-efficient next-generation GP3 processor, the Mission 1 series cameras deliver category-leading resolutions, frame rates, run times, and thermal performance for mission-critical reliability in extreme use cases. The new lineup includes three camera models, Mission 1 Pro, Mission One Pro ILS, and Mission One. The response to our Mission One series of products has been overwhelmingly positive. Recent press coverage has consistently highlighted the camera's industry-leading specs, image quality, compact and durable design, plus the outright performance and value the cameras deliver relative to dramatically more expensive cinema cameras. At the NAB show, Our new cameras earned three prestigious awards from leading industry outlets, one of six Red Shark Best in Show Awards, one of 10 Production Hub Awards of Excellence, and the Mission One Pro ILS was the sole winner of the CineD Best of Show Award in the camera category. These awards go to all of GoPro's employees whose dedication and passion made the Mission 1 Series cameras possible. Thank you, team, and congratulations. We expect the Mission 1 Series products to enable GoPro to gain meaningful share in our core markets, as well as in new professional and prosumer markets. The Mission 1 Series products will be available May 28th at gopro.com and select authorized retail partners globally, including Best Buy and Walmart. and high-end imaging retailers B&H and Adorama. As we shared, Q1 and the past few weeks marked an exciting array of new partnerships, business opportunity explorations, and product launches that we believe can help diversify and grow our business. We've just entered a new era of professional performance capability with the launch of our new Mission One series of cameras, and we're excited for the impact they can have on our business. Now I'll turn the call over to Brian Trapp to walk you through details of our Q1 financial results.