GoPro Files Going-Concern Warning, Reports 26% Revenue Drop

GoPro has filed a going-concern warning with its auditor, disclosing in amended June 1, 2026 filings that ongoing losses, negative cash flow, and debt covenants due within 12 months raise substantial doubt about the company's survival. Revenue for Q1 2026 was $99 million, down 26% year-over-year, with gross margin gutted to 4.3% from 32.1% a year earlier. The company is in a formal strategic review process that could end in a sale or merger.