GoPro retained investment bank Houlihan Lokey to advise on a potential sale and other strategic alternatives, the action-camera company announced on May 13, 2026. GoPro said it had received unsolicited strategic inquiries from parties in the defense, consumer and financial sectors.
The appointment followed the board’s May 11 announcement of a review that could include a sale or merger. GoPro said it had made no transaction decisions, set no timetable and could give no assurance that a deal would be pursued or completed.
The review comes amid declining sales and wider losses. For the first quarter ended March 31, GoPro reported revenue of $99 million, down 26% from a year earlier. Its net loss under generally accepted accounting principles widened to $81 million from $47 million. GoPro said the current-quarter results included a discrete $24.5 million charge related to certain component purchase commitments and a separate $4.5 million sale of slow-moving inventory.
Defense and aerospace assessment
On April 13, GoPro announced that it had engaged consulting firm Oliver Wyman to assess opportunities for its technology in defense and aerospace. The work includes identifying potential uses, evaluating market segments and product synergies, and considering partnerships and routes to market.
Founder and CEO Nicholas Woodman said the engagement would help GoPro identify more formal and scalable opportunities in those sectors, taking account of their operational, regulatory and commercial requirements.
The April announcement did not disclose a new defense contract or quantify expected revenue from the initiative. GoPro identified government procurement requirements, export controls, performance and security standards, market adoption and competition as risks to the effort.
Restructuring and consumer products
In an April 7 securities filing, GoPro outlined a restructuring plan expected to reduce its workforce by approximately 145 employees, or about 23% of its first-quarter ending headcount of 631. The company said the reductions were being implemented in the second quarter and were expected to be substantially completed by the end of 2026.
Its first-quarter results also showed camera sell-through of approximately 313,000 units, down 29% from a year earlier. Subscription and service revenue remained roughly flat at $27 million, while the subscriber count fell 8% to 2.26 million.
Alongside the strategic review, GoPro continued introducing products. The company announced the launch of its MISSION 1 camera series in May, describing it as an expansion into the high end of the digital imaging market.
Woodman had expressed openness to a larger corporate partner in January 2018, while denying an active engagement to sell GoPro.
The May 11 and May 13 strategic-review announcements did not specify how a transaction would affect GoPro’s consumer camera roadmap, accessories, software, subscriptions or warranty support.
