GoPro said that this quarter saw a 39% reduction in inventory from last quarter, and forward weeks of supply in their channel is lower 25%. Its HERO5 Black was the best-selling digital image camera in the U.S. in the second quarter, the company added.
Regarding its much talked about Karma Drone, GoPro said that it was the number two selling drone brand in the U.S in the second quarter, but did not provide any specific sales numbers for the device. That said, GoPro CFO Brian McGee acknowledged on its conference call that the Karma was not a 10% contributor to the company's quarterly revenue and earnings growth.
On the call one theme rang louder than others, to visualize GoPro as an extension of the smartphone.
CEO Nick Woodman touted the company's new Quick Stories app, calling it a "game changer."
He explained that GoPro is no longer just a camera company with a standalone device, rather a "powerful extension" of the smartphone itself, allowing it to grow its total addressable market.
Also on the call GoPro COO CJ Prober said the company is "very excited" regarding its upcoming Fusion device, its 360-degree camera. The company sees the opportunity for Fusion to break out in the 360-degree category.
"GoPro has proven it's a category maker," CEO Woodman added.
GoPro now sets it sights to the end of the year, and to exit 2017 with "appropriate" inventory levels, Woodman said.
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