GoPro makes action cameras — small, rugged, mountable cameras designed for sports, adventure, and activities where phones or traditional cameras are impractical. The core product line is the HERO series, led by the HERO13 Black, which offers high-resolution video, advanced image stabilization (HyperSmooth), and a broad ecosystem of mounts, accessories, and lens mods. GoPro also sells the MAX2, a 360-degree camera. GoPro sells through major retailers like Amazon, Best Buy, and Walmart, as well as directly through GoPro.com, and operates in over 100 countries. Hardware accounts for roughly 84% of revenue, driven by unit volumes, product mix, and upgrade cycles. The remaining ~16% comes from subscriptions: GoPro sells Premium and Premium+ plans that bundle cloud storage, camera replacement, and editing tools, with around 2.4M subscribers. GoPro is also developing an AI content licensing program, where U.S. subscribers opt in to license their cloud-stored footage to AI companies for model training, with subscribers receiving 50% of proceeds — GoPro expects to begin recognizing revenue from this in Q1 2026. Key cost pressures include rising memory component costs (DRAM and NAND) and tariffs; GoPro has shifted U.S.-bound camera manufacturing to Thailand to reduce tariff exposure. Looking ahead, GoPro's next-generation GP3 processor, expected in Q2 2026, is intended to improve low-light performance and enable entry into the premium low-light camera segment.