GoPro sees FY24 gross margin improving to 35%-36%

“Looking ahead, we expect to improve gross margin of 32% we posted in 2023 to a range of 35% to 36% in 2024,” the company said. “In addition, we continue to expect gross margin to improve throughout the year to 35% in the second and third quarters and to improve further in the fourth quarter to between 37% and 38%… We expect to grow subscribers in 2024 adding to the substantial ARR we are already generating. We expect to end the year with between 2.5 and 2.6 million subscribers, or 4% growth year-over-year at the high-end of the range. This assumes renewal rates consistent with what we’ve described earlier.”