Revenue and Earnings Exceed Expectations
First quarter revenue was $134 million, exceeding guidance of $125 million due to stronger sell-through. Non-GAAP operating expenses were $62 million, a 26% year-over-year decrease.
Strong Subscription Growth and Retention
Subscription and service revenue grew 4% year-over-year, primarily from a 5% ARPU growth. Aggregate retention reached a record 70%.
Operational Efficiency and Cost Reductions
Operating expenses reduced by 26% to $62 million. Headcount decreased by 30% year-over-year, contributing to a more efficient operating model.
Innovative Product Launches
Launched new hardware and software products, including an updated 360-degree camera app experience and a refreshed MAX camera. Introduced a Limited Edition Polar White colorway of HERO13 Black and released an Anamorphic Lens Mod.
Strategic Partnerships and New Initiatives
Announced a partnership with AGV for tech-enabled motorcycle helmets, aiming to tap into a $3 billion SAM market.