GoPro Files Amendment on Exit Costs
Ticker: GPRO · Form: 8-K/A · Filed: Oct 29, 2024 · CIK: 1500435
| Field | Detail |
|---|---|
| Company | Gopro, INC. (GPRO) |
| Form Type | 8-K/A |
| Filed Date | Oct 29, 2024 |
| Risk Level | low |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.0001, $15.5 million, $18.5 million, $8 million, $9 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: amendment, restructuring, disposal
Related Tickers: GPRO
TL;DR
GoPro filed an amendment for exit/disposal costs on 10/29/24.
AI Summary
GoPro, Inc. filed an amendment (8-K/A) on October 29, 2024, to a previous report. The filing pertains to 'Cost Associated with Exit or Disposal Activities' and was originally reported as of October 29, 2024. No specific dollar amounts or details of the exit or disposal activities were provided in the excerpt.
Why It Matters
This amendment indicates GoPro is updating information related to costs associated with exiting or disposing of activities, which could impact future financial reporting and operational structure.
Risk Assessment
Risk Level: low — The filing is an amendment to a previous report and does not introduce new financial events or significant changes, thus posing a low risk.
Key Players & Entities
- GoPro, Inc. (company) — Registrant
- October 29, 2024 (date) — Date of Report
- Woodman Labs, Inc. (company) — Former Company Name
FAQ
What specific 'Cost Associated with Exit or Disposal Activities' is GoPro, Inc. reporting on?
The provided text does not specify the nature or amount of the 'Cost Associated with Exit or Disposal Activities'.
What was the original filing date for the event being amended?
The original filing date for the event being amended was October 29, 2024.
What is the purpose of this 8-K/A filing?
This 8-K/A filing serves as an amendment to a previous report, specifically concerning 'Cost Associated with Exit or Disposal Activities'.
What is GoPro, Inc.'s principal executive office address?
GoPro, Inc.'s principal executive office is located at 3025 Clearview Way, San Mateo, CA 94402.
When did GoPro, Inc. change its name from Woodman Labs, Inc.?
GoPro, Inc. changed its name from Woodman Labs, Inc. on September 1, 2010.
Filing Stats: 852 words · 3 min read · ~3 pages · Grade level 13.3 · Accepted 2024-10-29 16:18:10
Key Financial Figures
- $0.0001 — stered Class A common stock, par value $0.0001 GPRO NASDAQ Global Select Market Indi
- $15.5 million — imated aggregate charge in the range of $15.5 million to $18.5 million. Cash severance expend
- $18.5 million — charge in the range of $15.5 million to $18.5 million. Cash severance expenditures will be ap
- $8 million — ance expenditures will be approximately $8 million to $9 million in the fourth quarter of
- $9 million — res will be approximately $8 million to $9 million in the fourth quarter of 2024. Project
- $6 million — ancellation costs will be approximately $6 million to $8 million in the fourth quarter of
Filing Documents
- gpro-20241029.htm (8-K/A) — 25KB
- gpro-20241029_g1.jpg (GRAPHIC) — 26KB
- 0001500435-24-000148.txt ( ) — 194KB
- gpro-20241029.xsd (EX-101.SCH) — 2KB
- gpro-20241029_lab.xml (EX-101.LAB) — 21KB
- gpro-20241029_pre.xml (EX-101.PRE) — 12KB
- gpro-20241029_htm.xml (XML) — 3KB
05. Costs Associated with Exit or Disposal Activities
Item 2.05. Costs Associated with Exit or Disposal Activities. GoPro, Inc. (the "Company") previously announced on August 19, 2024 that its Board of Directors had approved a restructuring plan (the "Original Restructuring Plan"). At that time the Original Restructuring Plan anticipated a reduction in force of approximately 15% from our ending second quarter headcount of 925 full-time employees, and it was expected to begin Q3 2024 and to be substantially complete in Q4 2024. On October 29, 2024, the Company announced that its Board of Directors of the Company approved an updated Restructuring Plan (the "Updated Restructuring Plan"). The Updated Restructuring Plan, which supersedes the previous estimates, is anticipated to entail an aggregate reduction in force of approximately 26% from our ending second quarter headcount of 925 full-time employees and is expected to be substantially completed by the end of 2024. The Updated Restructuring Plan is expected to result in an estimated aggregate charge in the range of $15.5 million to $18.5 million. Cash severance expenditures will be approximately $8 million to $9 million in the fourth quarter of 2024. Project cancellation costs will be approximately $6 million to $8 million in the fourth quarter of 2024. The estimates of the charges and expenditures that the Company expects to incur in connection with the above, and the timing thereof, are subject to a number of assumptions, including local law requirements in various jurisdictions, and actual amounts may differ materially from estimates. Note on Forward-looking Statements This Current Report on Form 8-K/A may contain projections or other forward-looking statements within the meaning Section 27A of the Private Securities Litigation Reform Act. Forward-looking statements in this Current Report on Form 8-K/A include, but are not limited to, statements related to expectations regarding aggregate charges for employee termination and the timing to recognize these ch