GOPRO, INC., 10-Q filed on 5/7/2024
Quarterly Report
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Cover - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
May 03, 2024
Jun. 30, 2023
Class of Stock [Line Items]      
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 77-0629474    
Entity Address, Address Line One 3025 Clearview Way    
Entity Address, City or Town San Mateo,    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94402    
Title of 12(b) Security Class A common stock, $0.0001 par value    
Trading Symbol GPRO    
Entity Registrant Name GOPRO, INC.    
City Area Code (650)    
Local Phone Number 332-7600    
Entity Central Index Key 0001500435    
Entity Filer Category Accelerated Filer    
Document Type 10-Q    
Document Period End Date Mar. 31, 2024    
Document Transition Report false    
Entity File Number 001-36514    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus Q1    
Amendment Flag false    
Entity Emerging Growth Company false    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Shell Company false    
Security Exchange Name NASDAQ    
Entity Small Business false    
Entity Public Float     $ 522,125
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer No    
Document Quarterly Report true    
Common Class A [Member]      
Class of Stock [Line Items]      
Entity Common Stock, Shares Outstanding   126,040,720  
Common Class B [Member]      
Class of Stock [Line Items]      
Entity Common Stock, Shares Outstanding   26,258,546  
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Audit Information - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Audit Information [Abstract]    
Revenues $ 155,469 $ 174,720
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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Preferred Stock, par value (usd per share) $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized (shares) 5,000,000 5,000,000
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Treasury Stock, Value $ 193,231,000 $ 193,231,000
Common Stocks, Including Additional Paid in Capital 1,006,527,000 998,373,000
Preferred Stock, Value, Outstanding $ 0 $ 0
Treasury Stock, Common, Shares 26,608,000 26,608,000
Cash and cash equivalents $ 133,658,000 $ 222,708,000
Marketable securities 0 23,867,000
Accounts receivable, net 68,895,000 91,452,000
Inventory 131,252,000 106,266,000
Prepaid expenses and other current assets 35,704,000 38,298,000
Property and equipment, net 8,919,000 8,686,000
Operating Lease, Right-of-Use Asset 17,647,000 18,729,000
Goodwill 152,351,000 146,459,000
Other long-term assets 27,329,000 311,486,000
Accounts payable 64,022,000 102,612,000
Accrued expenses and other current liabilities 89,347,000 110,049,000
Short-term operating lease liabilities 10,525,000 10,520,000
Deferred revenue 55,808,000 55,913,000
Long-term taxes payable 12,105,000 11,199,000
Long-term debt 92,743,000 92,615,000
Long-term operating lease liabilities 22,971,000 25,527,000
Other long-term liabilities 3,322,000 3,670,000
Accumulated deficit (588,384,000) (249,296,000)
Current assets:    
Cash and cash equivalents 133,658,000 222,708,000
Marketable securities 0 23,867,000
Accounts receivable, net 68,895,000 91,452,000
Inventory 131,252,000 106,266,000
Prepaid expenses and other current assets 35,704,000 38,298,000
Total current assets 369,509,000 482,591,000
Property and equipment, net 8,919,000 8,686,000
Operating Lease, Right-of-Use Asset 17,647,000 18,729,000
Goodwill 152,351,000 146,459,000
Other long-term assets 27,329,000 311,486,000
Total assets 575,755,000 967,951,000
Current liabilities:    
Accounts payable 64,022,000 102,612,000
Accrued expenses and other current liabilities 89,347,000 110,049,000
Short-term operating lease liabilities 10,525,000 10,520,000
Deferred revenue 55,808,000 55,913,000
Total current liabilities 219,702,000 279,094,000
Long-term taxes payable 12,105,000 11,199,000
Long-term debt 92,743,000 92,615,000
Long-term operating lease liabilities 22,971,000 25,527,000
Other long-term liabilities 3,322,000 3,670,000
Total liabilities 350,843,000 412,105,000
Commitments, contingencies and guarantees
Stockholders’ equity:    
Preferred Stock, Value, Outstanding 0 0
Common Stocks, Including Additional Paid in Capital 1,006,527,000 998,373,000
Treasury Stock, Value (193,231,000) (193,231,000)
Accumulated deficit (588,384,000) (249,296,000)
Total stockholders’ equity 224,912,000 555,846,000
Total liabilities and stockholders’ equity $ 575,755,000 $ 967,951,000
Preferred Stock, par value (usd per share) $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized (shares) 5,000,000 5,000,000
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Treasury Stock, Common, Shares 26,608,000 26,608,000
Common Class A [Member]    
Common stock outstanding (shares) 126,041,000 123,638,000
Common Stock, Shares Authorized (shares) 500,000,000 500,000,000
Common Stock, Shares, Issued 126,041,000 123,638,000
Stockholders’ equity:    
Common Stock, Shares Authorized (shares) 500,000,000 500,000,000
Common Stock, Shares, Issued 126,041,000 123,638,000
Common Class B [Member]    
Common stock outstanding (shares) 26,259,000 26,259,000
Common Stock, Shares Authorized (shares) 150,000,000 150,000,000
Common Stock, Shares, Issued 26,259,000 26,259,000
Stockholders’ equity:    
Common Stock, Shares Authorized (shares) 150,000,000 150,000,000
Common Stock, Shares, Issued 26,259,000 26,259,000
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Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Mar. 31, 2024
Dec. 31, 2023
Preferred Stock, par value (usd per share) $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized (shares) 5,000,000 5,000,000
Preferred Stock, Shares Issued (shares) 0 0
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Treasury Stock, Common, Shares 26,608,000 26,608,000
Common Class A [Member]    
Common Stock, Shares Authorized (shares) 500,000,000 500,000,000
Common Stock, Shares, Issued 126,041,000 123,638,000
Common stock outstanding (shares) 126,041,000 123,638,000
Common Class B [Member]    
Common Stock, Shares Authorized (shares) 150,000,000 150,000,000
Common Stock, Shares, Issued 26,259,000 26,259,000
Common stock outstanding (shares) 26,259,000 26,259,000
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Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Statement [Abstract]    
Revenues $ 155,469 $ 174,720
Cost of revenue 102,431 122,218
Gross profit 53,038 52,502
Operating expenses:    
Research and development 44,612 38,185
Sales and marketing 35,146 38,055
General and administrative 14,693 16,076
Total operating expenses 94,451 92,316
Operating loss (41,413) (39,814)
Interest expense (674) (1,153)
Other income, net   (2,845)
Other income, net 1,208  
Total other income, net 534 1,692
Loss before income taxes (40,879) (38,122)
Income tax expense (benefit) 298,209 (8,253)
Net loss $ (339,088) $ (29,869)
Earnings Per Share, Basic $ (2.24) $ (0.19)
Weighted Average Number of Shares Outstanding, Basic 151,091 155,402
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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Operating activities:    
Net loss $ (339,088) $ (29,869)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 1,325 1,809
Non-cash operating lease cost 1,082 1,483
Stock-based compensation 8,770 10,314
Deferred income taxes 296,775 (9,921)
Gain (Loss) on Extinguishment of Debt 3,100  
Other 651 (1,326)
Changes in operating assets and liabilities:    
Accounts receivable, net 22,429 (19,947)
Inventory (24,986) 27,673
Prepaid expenses and other assets (2,282) 3,251
Accounts payable and other liabilities (62,362) (27,627)
Deferred revenue (717) (988)
Net Cash Provided by (Used in) Operating Activities (98,403) (67,102)
Investing activities:    
Purchases of property and equipment, net (964) (483)
Purchases of marketable securities 0 (25,782)
Maturities of marketable securities 24,000 34,000
Payments for (Proceeds from) Other Investing Activities 12,308 0
Net cash provided by investing activities 10,728 7,735
Financing activities:    
Proceeds from issuance of common stock 1,379 2,324
Payment, Tax Withholding, Share-based Payment Arrangement (1,977) (4,251)
Payments for Repurchase of Common Stock 0 (5,000)
Payments for Repurchase of Common Stock 0 5,000
Net cash used in financing activities (598) (6,927)
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (777) 385
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect $ (89,050) $ (65,909)
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Condensed Consolidated Statements Stockholders' Equity (Deficit) - USD ($)
shares in Thousands, $ in Thousands
Total
Retained Earnings [Member]
Common Stock Including Additional Paid in Capital [Member]
Treasury Stock, Common
Cumulative effect of adoption of new accounting standard [Member]
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent $ 611,559 $ (196,113) $ 960,903 $ (153,231)  
Shares, Outstanding     154,888    
Allocated share-based compensation expense 10,314   $ 10,314    
Payments for Repurchase of Common Stock 5,000        
Stock Repurchased During Period, Value (5,000)        
Treasury Stock, Value, Acquired, Cost Method $ (5,000)        
Stock Repurchased During Period, Shares (890)        
Net loss $ (29,869) (29,869)      
Common stock issued under employee benefit plans, net of shares withheld for tax 2,397   $ 2,397    
Common stock issued under employee benefit plans, net of shares withheld for tax (shares)     1,960    
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation 4,251   $ (4,251)    
Stockholders' Equity Attributable to Parent 585,150 (225,982) $ 969,363 (158,231) $ (5,000)
Shares, Outstanding     155,958    
Stockholders' Equity Attributable to Parent 555,846 (249,296) $ 998,373 (193,231)  
Shares, Outstanding     149,897    
Allocated share-based compensation expense 8,770   $ 8,770    
Payments for Repurchase of Common Stock 0        
Stock Repurchased During Period, Value 0        
Net loss (339,088) (339,088)      
Common stock issued under employee benefit plans, net of shares withheld for tax 1,361        
Common stock issued under employee benefit plans, net of shares withheld for tax (shares)     2,403    
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation 1,977   $ (1,977)    
Stockholders' Equity Attributable to Parent $ 224,912 $ (588,384) $ 1,006,527 $ (193,231)  
Shares, Outstanding     152,300    
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Summary of business and significant accounting policies
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Accounting Standards Update and Change in Accounting Principle
Recent accounting standards.

StandardDescriptionCompany’s date of adoption
Effect on the condensed consolidated financial statements or other significant matters
Standards not yet adopted
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
ASU No. 2023-07

This standard is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an interim and annual basis. Additionally, this standard would require that a public entity that has a single reportable segment provide all the disclosures required by the standard and all existing segment disclosures in Topic 280. This standard is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The standard requires retrospective application.
January 1, 2024
The Company is currently evaluating the impact of adopting this standard on its 2024 Form 10-K financial statements and related disclosures.
Income Taxes (Topic 740): Improvements to Income Tax Disclosures
ASU No. 2023-09
This standard requires reporting companies to break out income tax expense and a tax rate reconciliation in more detail. This standard is effective for fiscal years beginning after December 15, 2024, with early adoption permitted. The standard requires prospective transition with the option to apply retrospectively.
January 1, 2025
The Company is currently evaluating the impact of adopting this standard on its financial statements and related disclosures.
Although there are several other new accounting standards issued or proposed by the FASB, which the Company has adopted or will adopt, as applicable, the Company does not believe any of these accounting pronouncements has had or will have a material impact on its condensed consolidated financial statements.
Business acquisitions
On February 27, 2024, the Company completed an acquisition of Forcite Helmet Systems, a privately-held company that offers technology-enabled helmets, for total consideration of $14.0 million. The allocation of the purchase price primarily included $7.5 million in developed technology and $5.9 million of residual goodwill. Net tangible assets acquired were not material.
Goodwill is primarily attributable to expected synergies in the technologies that can be leveraged by the Company in future product offerings. Goodwill is not expected to be deductible for United States income tax purposes. The operating results of Forcite Helmet Systems have been included in the Company’s condensed consolidated financial statements from the date of acquisition. Actual and pro forma results of operations for this acquisition have not been presented because they did not have a material impact to the Company’s condensed consolidated results of operations.
Reclassifications
Prior period reclassifications. Reclassifications of certain prior period amounts in the condensed consolidated financial statements have been made to conform to the current period presentation.
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Business Acquisitions
 3 Months Ended
Mar. 31, 2024
Business Combinations [Abstract]  
Business acquisitions
On February 27, 2024, the Company completed an acquisition of Forcite Helmet Systems, a privately-held company that offers technology-enabled helmets, for total consideration of $14.0 million. The allocation of the purchase price primarily included $7.5 million in developed technology and $5.9 million of residual goodwill. Net tangible assets acquired were not material.
Goodwill is primarily attributable to expected synergies in the technologies that can be leveraged by the Company in future product offerings. Goodwill is not expected to be deductible for United States income tax purposes. The operating results of Forcite Helmet Systems have been included in the Company’s condensed consolidated financial statements from the date of acquisition. Actual and pro forma results of operations for this acquisition have not been presented because they did not have a material impact to the Company’s condensed consolidated results of operations.
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Fair value measurements
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value measurements Fair value measurements
The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows:
March 31, 2024December 31, 2023
(in thousands)Level 1Level 2TotalLevel 1Level 2Total
Cash equivalents (1):
Money market funds$87,200 $— $87,200 $152,760 $— $152,760 
Total cash equivalents$87,200 $— $87,200 $152,760 $— $152,760 
Marketable securities:
U.S. treasury securities$— $— $— $— $7,962 $7,962 
Commercial paper— — — — 7,942 7,942 
Corporate debt securities— — — — 3,978 3,978 
Government securities— — — — 3,985 3,985 
Total marketable securities$— $— $— $— $23,867 $23,867 
(1)    Included in cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets. Cash balances were $46.4 million and $69.9 million as of March 31, 2024 and December 31, 2023, respectively.
Cash equivalents are classified as Level 1 because the Company uses quoted market prices to determine their fair value. Marketable securities are classified as Level 2 because the Company uses alternative pricing sources and models utilizing market observable inputs to determine their fair value. The Company held no marketable securities as of March 31, 2024, and the contractual maturities of available-for-sale marketable securities as of December 31, 2023 were all less than one year in duration. As of March 31, 2024 and December 31, 2023, the Company had no financial assets or liabilities measured at fair value on a recurring basis that were classified as Level 3, which are valued based on inputs supported by little or no market activity.
As of March 31, 2024 and December 31, 2023, the amortized cost of the Company’s cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate.
In November 2020, the Company issued $143.8 million principal amount of Convertible Senior Notes due 2025 (2025 Notes) (see Note 5 Financing arrangements). In November 2023, the Company repurchased $50.0 million in aggregate principal amount of the 2025 Notes. The estimated fair value of the 2025 Notes is based on quoted market prices of the Company’s instruments in markets that are not active and are classified as Level 2 within the fair value hierarchy. The Company estimated the fair value of the 2025 Notes by evaluating quoted market prices and calculating the upfront cash payment a market participant would require to assume these obligations. The calculated fair value of the 2025 Notes was $85.6 million and $82.3 million as of March 31, 2024 and
December 31, 2023, respectively. The calculated fair value is highly correlated to the Company’s stock price and as a result, significant changes to the Company’s stock price will have a significant impact on the calculated fair value of the 2025 Notes.
For certain other financial assets and liabilities, including accounts receivable, accounts payable and other current assets and liabilities, the carrying amounts approximate their fair value primarily due to the relatively short maturity of these balances.
The Company also measures certain non-financial assets at fair value on a nonrecurring basis, primarily goodwill, intangible assets, and operating lease right-of-use assets, in connection with periodic evaluations for potential impairment.
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Financing Arrangements
 3 Months Ended
Mar. 31, 2024
Debt Disclosure [Abstract]  
Financing Arrangements
5. Financing arrangements
2021 Credit Facility
In January 2021, the Company entered into a Credit Agreement which provides for a revolving credit facility (2021 Credit Facility) under which the Company may borrow up to an aggregate amount of $50.0 million. In March 2023, the Company amended the 2021 Credit Agreement (collectively, the 2021 Credit Agreement). The 2021 Credit Agreement will terminate and any outstanding borrowings become due and payable on the earlier of (i) January 2027 and (ii) unless the Company has cash in a specified deposit account in an amount equal to or greater than the amount required to repay the Company’s 1.25% Convertible Senior Notes due November 2025, 91 days prior to the maturity date of such convertible notes.
The amount that may be borrowed under the 2021 Credit Agreement may be based on a customary borrowing base calculation if the Company’s Asset Coverage Ratio is at any time less than 1.50. The Asset Coverage Ratio is defined as the ratio of (i) the sum of (a) the Company’s cash and cash equivalents in the United States plus specified percentages of other qualified debt investments (Qualified Cash) plus (b) specified percentages of the net book values of the Company’s accounts receivable and certain inventory to (ii) $50.0 million.
Borrowed funds accrue interest at the greater of (i) a per annum rate equal to the base rate plus a margin of from 0.50% to 1.00% depending on the Company’s Asset Coverage Ratio or (ii) a per annum rate equal to the Secured Overnight Financing Rate plus a 10 basis point premium and a margin of from 1.50% to 2.00% depending on the Company’s Asset Coverage Ratio. The Company is required to pay a commitment fee on the unused portion of the 2021 Credit Facility of 0.25% per annum. Amounts owed under the 2021 Credit Agreement are guaranteed by certain of the Company’s United States subsidiaries and secured by a first priority security interest in substantially all of the assets of the Company and certain of its subsidiaries (other than intellectual property, which is subject to a negative pledge restricting grants of security interests to third parties).
The 2021 Credit Agreement contains customary representations, warranties, and affirmative and negative covenants. The negative covenants include restrictions on the incurrence of liens and indebtedness, certain investments, dividends, stock repurchases, and other matters, all subject to certain exceptions. In addition, the Company is required to maintain Liquidity (the sum of unused availability under the credit facility and the Company’s Qualified Cash) of at least $55.0 million (of which at least $40.0 million shall be attributable to Qualified Cash), or, if the borrowing base is then in effect, minimum unused availability under the credit facility of at least $10.0 million. The 2021 Credit Agreement also includes customary events of default that include, among other things, non-payment of principal, interest or fees, inaccuracy of representations and warranties, violation of certain covenants, cross default to certain other indebtedness, bankruptcy and insolvency events, material judgments and change of control. Upon an event of default, the lender may, subject to customary cure rights, require the immediate payment of all amounts outstanding.
As of March 31, 2024, the Company was in compliance with all financial covenants contained in the 2021 Credit Agreement and has made no borrowings from the 2021 Credit Facility to date. As of March 31, 2024, the
Company could borrow up to $44.8 million under the 2021 Credit Agreement. However, there is an outstanding letter of credit under the 2021 Credit Agreement of $5.2 million for certain duty-related requirements. This was not collateralized by any cash on hand.
2025 Convertible Notes
In November 2020, the Company issued $125.0 million aggregate principal amount of 1.25% Convertible Senior Notes due 2025 (the 2025 Notes) and granted an option to the initial purchasers to purchase up to an additional $18.8 million aggregate principal amount of the 2025 Notes to cover over-allotments, of which $18.8 million was subsequently exercised during November 2020, resulting in a total issuance of $143.8 million aggregate principal amount of the 2025 Notes. The 2025 Notes are senior, unsecured obligations of the Company and mature on November 15, 2025, unless earlier repurchased or converted into shares of Class A common stock under certain circumstances. The 2025 Notes are convertible into cash, shares of the Company’s Class A common stock, or a combination thereof, at the Company’s election, at an initial conversion rate of 107.1984 shares of Class A common stock per $1,000 principal amount of the 2025 Notes, which is equivalent to an initial conversion price of approximately $9.3285 per share of common stock, subject to adjustment. The Company pays interest on the 2025 Notes semi-annually in arrears on May 15 and November 15 of each year.
The Company may redeem all or any portion of the 2025 Notes on or after November 20, 2023 for cash if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides the redemption notice, at a redemption price equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued interest and unpaid interest to, but excluding the redemption date. No sinking fund is provided for the 2025 Notes. The indenture includes customary terms and covenants, including certain events of default after which the 2025 Notes may be due and payable immediately.
Holders have the option to convert the 2025 Notes in multiples of $1,000 principal amount at any time prior to August 15, 2025, but only in the following circumstances:
•during any calendar quarter beginning after the calendar quarter ending on March 31, 2021, if the last reported sale price of Class A common stock for at least 20 trading days (whether or not consecutive) during the last 30 consecutive trading days of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price of the 2025 Notes on each applicable trading day;
•during the five-business day period following any five consecutive trading day period in which the trading price for the 2025 Notes is less than 98% of the product of the last reported sale price of Class A common stock and the conversion rate for the 2025 Notes on each such trading day;
•if the Company calls any or all of the 2025 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately before the redemption date; or
•upon the occurrence of specified corporate events.
At any time on or after August 15, 2025 until the second scheduled trading day immediately preceding the maturity date of the 2025 Notes on November 15, 2025, a holder may convert its 2025 Notes, in multiples of $1,000 principal amount. Holders of the 2025 Notes who convert their 2025 Notes in connection with a make-whole fundamental change (as defined in the indenture) are, under certain circumstances, entitled to an increase in the conversion rate. In addition, in the event of a fundamental change prior to the maturity date, holders will, subject to certain conditions, have the right, at their option, to require the Company to repurchase for cash all or part of the 2025 Notes at a repurchase price equal to 100% of the principal amount of the 2025 Notes to be repurchased, plus accrued and unpaid interest up to, but excluding, the repurchase date. During the three months ended March 31, 2024, the conditions allowing holders of the 2025 Notes to convert were not met.
In connection with the offering of the 2025 Notes, the Company paid $10.2 million to enter into privately negotiated capped call transactions with certain financial institutions (Capped Calls). The Capped Calls have an initial strike price of $9.3285 per share, which corresponds to the initial conversion price of the 2025 Notes. The Capped Calls cover, subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the 2025 Notes, the number of Class A common stock initially underlying the 2025 Notes. The Capped
Calls are generally expected to reduce potential dilution to the Company’s Class A common stock upon any conversion of the 2025 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted 2025 Notes, as the case may be, with such reduction and/or offset subject to a cap, initially equal to $12.0925, and is subject to certain adjustments under the terms of the Capped Call transactions. The Capped Calls will expire in November 2025, if not exercised earlier.
The Capped Calls are subject to adjustment upon the occurrence of specified extraordinary events affecting the Company, including merger events, tender offers, and announcement events. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings and hedging disruptions. For accounting purposes, the Capped Calls are separate transactions, and not part of the terms of the 2025 Notes. As these transactions meet certain accounting criteria, the Capped Calls are recorded in stockholders’ equity as a reduction to additional paid-in capital and will not be remeasured as long as they continue to meet certain accounting criteria.
In November 2023, the Company repurchased $50.0 million in aggregate principal amount of the 2025 Notes in exchange for $46.3 million cash through an individual, privately negotiated transaction. The repurchase was accounted for as a debt extinguishment. The carrying value of the portion of the 2025 Notes repurchased was $49.4 million, and the Company recognized a gain on the debt extinguishment of $3.1 million, which was recorded in the fourth quarter of 2023 within other income (expense), net, on the Company’s Condensed Consolidated Statements of Operations.
As of March 31, 2024 and December 31, 2023, the outstanding principal on the 2025 Notes was $93.8 million and $93.8 million, respectively, the unamortized debt issuance cost was $1.0 million and $1.2 million, respectively, and the net carrying amount of the liability was $92.7 million and $92.6 million, respectively, which was recorded as long-term debt within the Condensed Consolidated Balance Sheets. For the three months ended March 31, 2024 and 2023, the Company recorded interest expense of $0.3 million and $0.4 million, respectively, for contractual coupon interest, and $0.2 million and $0.2 million, respectively, for amortization of debt issuance costs. As of March 31, 2024, and December 31, 2023, the effective interest rate, which is calculated as the contractual interest rate adjusted for the debt issuance costs, was 0.5% and 2.8%, respectively.
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Employee benefit plans
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Compensation and Employee Benefit Plans
7. Employee benefit plans
Equity incentive plans. The Company has outstanding equity grants from four of its five stock-based employee compensation plans: the 2024 Equity Incentive Plan (2024 Plan), the 2014 Equity Incentive Plan (2014 Plan), the 2010 Equity Incentive Plan (2010 Plan), and the 2024 Employee Stock Purchase Plan (2024 ESPP). The 2014 Plan serves as successor to the 2010 Plan and the 2024 Plan serves as a successor to the 2014 Plan. The effective date of both the 2024 Plan and the 2024 ESPP was February 15, 2024. The 2014 Plan and the 2014 Employee Stock Purchase Plan (2014 ESPP) each expired on February 15, 2024. The 2014 ESPP plan’s final purchase was on February 15, 2024, and no remaining purchase rights are accrued under this plan. Awards granted under the 2010 and 2014 Plans will continue to be subject to the terms and provisions of the 2010 and 2014 Plans.
The 2024 Plan provides for the granting of incentive and non-qualified stock options, restricted stock awards (RSAs), restricted stock units (RSUs), stock appreciation rights, stock bonus awards and performance awards to qualified employees, non-employee directors and consultants. Options granted under the 2024 Plan generally expire within ten years from the date of grant and generally vest over one to four years. Restricted stock units (RSUs) granted under the 2024 Plan generally vest over two to four years based upon continued service and are settled at vesting in shares of the Company’s Class A common stock. Performance stock units (PSUs) granted under the 2024 Plan generally vest over three years based upon continued service and the Company achieving certain financial and operating targets and are settled at vesting in shares of the Company’s Class A common stock. The Company accounts for forfeitures of stock-based payment awards in the period they occur. The 2024 ESPP allows eligible employees to purchase shares of the Company’s Class A common stock through payroll deductions at a price equal to 85% of the lesser of the fair market value of the stock as of the first date or the ending date of each six-month offering period. For additional information regarding the Company's equity incentive plans, refer to the 2023 Annual Report.
Stock options
A summary of the Company’s stock option activity for the three months ended March 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average exercise price
Weighted-average remaining contractual term (in years)
Aggregate intrinsic value (in thousands)
Outstanding at December 31, 20232,684 $8.43 5.08$— 
Granted— — 
Exercised— — 
Forfeited/Cancelled(98)16.39 
Outstanding at March 31, 20242,586 $8.13 5.02$— 
Vested and expected to vest at March 31, 20242,586 $8.13 5.02$— 
Exercisable at March 31, 20242,208 $8.52 4.40$— 
The aggregate intrinsic value of the stock options outstanding as of March 31, 2024 represents the value of the Company’s closing stock price on March 31, 2024 in excess of the exercise price multiplied by the number of options outstanding.
Restricted stock units
A summary of the Company’s RSU activity for the three months ended March 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 202311,494 $5.94 
Granted2,287 2.49 
Vested(2,248)6.75 
Forfeited(469)5.49 
Non-vested shares at March 31, 202411,064 $5.08 
Performance stock units
A summary of the Company’s PSU activity for the three months ended March 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 2023829 

$6.40 
Granted— — 
Vested(297)6.46 
Forfeited(12)5.79 
Non-vested shares at March 31, 2024520 $6.38 
Employee stock purchase plan. For the three months ended March 31, 2024 and 2023, the Company issued 0.7 million and 0.5 million shares under its employee stock purchase plans, respectively, at weighted-average prices of $2.12 and $5.09, per share, respectively.
Stock-based compensation expense. The Company measures compensation expense for all stock-based payment awards based on the estimated fair values on the date of the grant. The fair value of stock options granted and ESPP issuances is estimated using the Black-Scholes option pricing model. The fair value of RSUs and PSUs are determined using the Company’s closing stock price on the date of grant. There have been no significant changes in the Company’s valuation assumptions from those disclosed in its 2023 Annual Report.
The following table summarizes stock-based compensation expense included in the Condensed Consolidated Statements of Operations:
Three months ended March 31,
(in thousands)
20242023
Cost of revenue
$415 $466 
Research and development
4,265 4,746 
Sales and marketing
1,744 2,178 
General and administrative
2,346 2,924 
Total stock-based compensation expense$8,770 $10,314 
There was no income tax benefit related to stock-based compensation expense for the three months ended March 31, 2024 due to a full valuation allowance on the Company’s United States net deferred tax assets. The income tax benefit related to stock-based compensation expense for the three months ended March 31, 2023 was $2.3 million. See Note 9, Income taxes, for additional details.
As of March 31, 2024, total unearned stock-based compensation of $51.8 million related to stock options, RSUs, PSUs, and ESPP shares is expected to be recognized over a weighted-average period of 2.32 years
v3.24.1.u1
Net loss per share
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Net loss per share
Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares of common stock outstanding. Diluted net income per share adjusts the basic net income per share and the weighted-average number of shares of common stock outstanding for the potentially dilutive impact of the Company’s ESPP and stock awards, using the treasury stock method. The Company calculated the potential dilutive effect of its 2025 Notes under the if-converted method. Under the if-converted method, diluted net income per share was determined by assuming all of the 2025 Notes were converted into shares of the Company’s Class A common stock at the beginning of the reporting period. In addition, in periods of net income, interest charges on the 2025 Notes, which includes both coupon interest and amortization of debt issuance costs, were added back to net income on an after-tax effected basis.
The 2025 Notes will mature on November 15, 2025, unless earlier repurchased or converted into shares of Class A common stock under certain circumstances as described further in Note 5 Financing arrangements. The 2025 Notes are convertible into cash, shares of the Company’s Class A common stock, or a combination thereof, at the Company’s election.
The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock and has no expiration date. Each share of Class B common stock will convert automatically into one share of Class A common stock upon the date when the outstanding shares of Class B common stock represent less than 10% of the aggregate number of shares of common stock then outstanding. Class A common stock is not convertible into Class B common stock. The computation of the diluted net income per share of Class A common stock assumes the conversion of Class B common stock.
v3.24.1.u1
Commitments, contingencies and guarantees
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments, contingencies and guarantees
10. Commitments, contingencies, and guarantees
Facility leases. The Company leases its facilities under long-term operating leases, which expire at various dates through 2029.
The components of net lease cost, which were primarily recorded in operating expenses, were as follows:
Three months ended March 31,
(in thousands)20242023
Operating lease cost (1)
$2,800 $3,358 
Sublease income(723)(723)
Net lease cost$2,077 $2,635 
(1)    Operating lease cost includes variable lease costs, which are immaterial.

Supplemental cash flow information related to leases was as follows:
Three months ended March 31,
(in thousands)20242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$3,392 $3,791 
Right-of-use assets obtained in exchange for operating lease liabilities513 186 

Supplemental balance sheet information related to leases was as follows:
March 31, 2024December 31, 2023
Weighted-average remaining lease term (in years) - operating leases2.843.05
Weighted-average discount rate - operating leases6.2%6.2%

As of March 31, 2024, maturities of operating lease liabilities were as follows:
(in thousands)
March 31, 2024
2024 (remaining 9 months)$8,979 
202513,284 
202612,509 
20271,482 
2028462 
Thereafter103 
Total lease payments36,819 
Less: Imputed interest(3,323)
Present value of lease liabilities$33,496 
Other commitments. In the ordinary course of business, the Company enters into multi-year agreements to purchase sponsorships with event organizers, resorts and athletes as part of its marketing efforts; software
licenses related to its financial and IT systems; debt agreements; and various other contractual commitments. As of March 31, 2024, the Company’s total undiscounted future expected obligations under multi-year agreements described above with terms longer than one year was $143.3 million.
Legal proceedings and investigations. Since 2015, Contour IP Holdings LLC (CIPH) and related entities have filed lawsuits in various federal district courts alleging, among other things, patent infringement in relation to certain GoPro products. Following litigation in federal courts and the United States Patent and Trademark Office, CIPH’s patents were ruled invalid in March 2022. Judgment was then entered in favor of the Company and against CIPH. CIPH later appealed, and the appeal is pending at the Federal Circuit. The Company believes that the appeal lacks merit and intends to vigorously defend against CIPH's appeal.
On March 29, 2024, the Company filed a complaint with the U.S. International Trade Commission (ITC) against Arashi Vision Inc., d/b/a Insta360, and Arashi Vision (U.S.) LLC, d/b/a Insta360, and a lawsuit in the U.S. District Court for the Central District of California against Arashi Vision Inc., d/b/a Insta360, and Arashi Vision (U.S.) LLC, d/b/a Insta360. The complaint and lawsuit each allege infringement of certain GoPro patents related to the Company’s cameras and digital imaging technology.
The Company regularly evaluates the associated developments of the legal proceedings described above, as well as other legal proceedings that arise in the ordinary course of business. While litigation is inherently uncertain, based on the currently available information, the Company is unable to determine a loss or a range of loss, and does not believe the ultimate cost to resolve these matters will have a material adverse effect on its business, financial condition, cash flows or results of operations.
Indemnifications. The Company has entered into indemnification agreements with its directors and executive officers which requires the Company to indemnify its directors and executive officers against liabilities that may arise by reason of their status or service. In addition, in the normal course of business, the Company enters into agreements that contain a variety of representations and warranties, and provide for general indemnification. The Company’s exposure under these agreements is unknown because it involves claims that may be made against the Company in the future but have not yet been made. It is not possible to determine the maximum potential amount under these indemnification agreements due to the Company’s limited history with indemnification claims and the unique facts and circumstances involved in each particular agreement. As of March 31, 2024, the Company has not paid any claims, nor has it been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations.
v3.24.1.u1
Concentrations of risk and geographic information
 3 Months Ended
Mar. 31, 2024
Risks and Uncertainties [Abstract]  
Concentrations of risk and segment information Concentrations of risk and geographic information
Concentration of risk. Financial instruments which potentially subject the Company to concentration of credit risk includes cash and cash equivalents, marketable securities, accounts receivable, and derivative instruments, including the Capped Calls associated with the 2025 Notes. The Company places cash and cash equivalents with high-credit-quality financial institutions; however, the Company maintains cash balances in excess of the FDIC insurance limits. The Company believes that credit risk for accounts receivable is mitigated by the Company’s credit evaluation process, relatively short collection terms and dispersion of its customer base. The Company generally does not require collateral and losses on trade receivables have historically been within the Company’s expectations. The Company believes its counterparty credit risk related to its derivative instruments is mitigated by transacting with major financial institutions with high credit ratings.
Customers who represented 10% or more of the Company’s net accounts receivable balance were as follows:
March 31, 2024December 31, 2023
Customer A26%30%
Customer B18%11%
The following table summarizes the Company’s accounts receivables sold, without recourse, and factoring fees paid:
Three months ended March 31,
(in thousands)
20242023
Accounts receivable sold$17,642 $16,434 
Factoring fees236 264 
No third-party customer represented 10% or more of the Company's total revenue as of March 31, 2024 and 2023.
Supplier concentration. The Company relies on third parties for the supply and manufacture of its products, some of which are sole-source suppliers. The Company believes that outsourcing manufacturing enables greater scale and flexibility. As demand and product lines change, the Company periodically evaluates the need and advisability of adding manufacturers to support its operations. In instances where a supply and manufacture agreement does not exist or suppliers fail to perform their obligations, the Company may be unable to find alternative suppliers or satisfactorily deliver its products to its customers on time, if at all. The Company also relies on third parties with whom it outsources supply chain activities related to inventory warehousing, order fulfillment, distribution and other direct sales logistics. In instances where an outsourcing agreement does not exist or these third parties fail to perform their obligations, the Company may be unable to find alternative partners or satisfactorily deliver its products to its customers on time.
Geographic information
Revenue by geographic region, based on ship-to locations, was as follows:
Three months ended March 31,
(in thousands)
20242023
Americas
$76,597 $89,519 
Europe, Middle East and Africa (EMEA)52,008 46,016 
Asia and Pacific (APAC)
26,864 39,185 
Total revenue
$155,469 $174,720 
Revenue from the United States, which is included in the Americas geographic region, was $56.3 million and $75.6 million, for the three months ended March 31, 2024 and 2023, respectively. No other individual country exceeded 10% of total revenue for any period presented. The Company does not disclose revenue by product category as it does not track sales incentives and other revenue adjustments by product category to report such data.
As of March 31, 2024 and December 31, 2023, long-lived assets, which represent net property and equipment, located outside the United States, primarily in Hong Kong and mainland China, were $2.1 million and $1.6 million, respectively.
v3.24.1.u1
Restructuring charges
 3 Months Ended
Mar. 31, 2024
Restructuring and Related Activities [Abstract]  
Restructuring charges Restructuring charges
Restructuring charges for each period were as follows:
Three months ended March 31,
(in thousands)
20242023
Cost of revenue
$13 $1 
Research and development
1,030 11 
Sales and marketing
550 6 
General and administrative
619 3 
Total restructuring charges
$2,212 $21 
First quarter 2024 restructuring
On March 14, 2024, the Company approved a restructuring plan to reduce operating costs and drive stronger operating leverage by reducing the Company’s global workforce by approximately 4% and certain office space. Under the first quarter 2024 restructuring plan, the Company recorded restructuring charges of $2.3 million related to severance. The Company expects to incur an impairment charge of approximately $3.2 million upon ceasing the use of certain office space. The Company also anticipates approximately $2.1 million of office space charges through January 2027.

(in thousands)
Severance
Restructuring liability as of December 31, 2023$— 
Restructuring charges2,257 
Cash paid
(53)
Restructuring liability as of March 31, 2024$2,204 
v3.24.1.u1
Subsequent Events
 3 Months Ended
Mar. 31, 2024
Subsequent Event [Line Items]  
Subsequent Events [Text Block]
13. Subsequent events
In January 2024, the Company entered into an agreement to acquire a privately-held company that offers technology-enabled helmets. The transaction is expected to close in the first quarter of 2024, subject to the satisfaction of customary closing conditions.
v3.24.1.u1
Valuation and Qualifying Accounts
 3 Months Ended
Mar. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]
Schedule II
GoPro, Inc.
VALUATION AND QUALIFYING ACCOUNTS
For the year ended December 31, 2024, 2023 and 2022
(in thousands)Balance at Beginning of YearCharges to RevenueCharges (Benefits) to ExpenseCharges to Other Accounts - EquityDeductions/Write-offsBalance at End of Year
Allowance for doubtful accounts receivable:
Year ended March 31, 2024$390 $— $67 $— $(7)$450 
Year ended March 31, 2023700 — (294)— (16)390 
Year ended December 31, 2021492 — 393 — (185)700 
Valuation allowance for deferred tax assets:
Year ended March 31, 2024$— $— $— $— $— $— 
Year ended March 31, 2023— — — — — — 
Year ended December 31, 2021287,276 — (284,551)— (2,725)— 
v3.24.1.u1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Pay vs Performance Disclosure    
Net loss $ (339,088) $ (29,869)
v3.24.1.u1
Insider Trading Arrangements
 3 Months Ended
Mar. 31, 2024
shares
Dean Jahnke [Member]  
Trading Arrangements, by Individual  
Name Dean Jahnke (2)
Title Senior Vice President, Global Sales and Channel Marketing
Adoption Date 2/29/2024 (1)
Termination Date 3/1/2025
Aggregate Available 450,877
Eve T. Saltman [Member]  
Trading Arrangements, by Individual  
Name Eve Saltman
Title Senior Vice President, Corporate and Business Development, Chief Legal Officer and Secretary and Chief Compliance Officer
v3.24.1.u1
Summary of business and significant accounting policies (Policies)
 3 Months Ended
Mar. 31, 2024
Accounting Policies [Abstract]  
Basis of presentation
Basis of presentation. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (GAAP) for financial information set forth in the Accounting Standards Codification (ASC), as published by the Financial Accounting Standards Board (FASB), and with the applicable rules and regulations of the Securities and Exchange Commission (SEC). The Company’s fiscal year ends on December 31, and its fiscal quarters end on March 31, June 30, and September 30.
The condensed consolidated financial statements reflect all adjustments, which are normal and recurring in nature, that management believes are necessary for the fair statement of the Company's financial statements, but are not necessarily indicative of the results expected in future periods. The Condensed Consolidated Balance Sheet as of December 31, 2023 has been derived from the audited financial statements at that date, but does not include all the disclosures required by GAAP. This Quarterly Report on Form 10-Q should be read in conjunction with the Company's Annual Report on Form 10-K (2023 Annual Report) for the year ended December 31, 2023. There have been no material changes in the Company’s critical account policies and estimates from those disclosed in its Annual Report on Form 10-K.
Principles of consolidation
Principles of consolidation. These condensed consolidated financial statements include all the accounts of the Company and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.
Use of estimates
Use of estimates. The preparation of condensed consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported and disclosed in the Company’s condensed consolidated financial statements and accompanying notes. Significant estimates and assumptions made by management include those related to revenue recognition and the allocation of the transaction price (including sales incentives, sales returns and implied post contract support), inventory valuation, product warranty liabilities, the valuation, impairment and useful lives of long-lived assets (property and equipment, operating lease right-of-use assets, intangible assets and goodwill), fair value of convertible senior notes, and income taxes. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from management’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations could be affected.
The Company performs an annual assessment of its goodwill during the fourth quarter of each calendar year or more frequently if indicators of potential impairment exist, such as an adverse change in business climate, declines in market capitalization or a decline in the overall industry demand, that would indicate it is more likely than not that the fair value of its single reporting unit is less than its’ carrying value. If the Company determines that it is more likely than not that the fair value of its single reporting unit is less than the carrying value, the Company measures the amount of impairment as the amount the carrying value of its single reporting unit exceeds the fair value, up to the carrying value of goodwill, by using a discounted cash flow method and market approach method.
Although the Company’s market capitalization further declined in the first quarter of 2024, the Company does not believe that it is more likely than not that the fair value of its single reporting unit is less than the carrying value. Using the market capitalization approach, which the Company expects would be similar to the discounted cash flow method, the fair value of the single reporting unit is estimated based on the trading price of the Company’s
stock at the test date, which is further adjusted by an acquisition control premium representing the synergies a market participant would obtain when obtaining control of the business. As of March 31, 2024, the market capitalization exceeded the carrying value of the single reporting unit by 34% which was not adjusted for an acquisition control premium. The acquisition control premium would further increase the percentage by which the estimated fair value of the Company’s single reporting unit would exceed the carrying value.
The estimated fair value of the Company’s single reporting unit is sensitive to the volatility in the Company’s stock price. For example, the Company’s stock price decreased from $2.23 on March 31, 2024, to a low of $1.69 on April 22, 2024, which would have resulted in the Company’s market capitalization exceeding the carrying value of the single reporting unit by 13% which was not adjusted for an acquisition control premium. If the Company's market capitalization continues to decline or future performance falls below the Company’s current expectations, assumptions, or estimates, including assumptions related to current macroeconomic uncertainties, this may trigger a future material non-cash goodwill impairment charge, which could have a material adverse effect on the Company’s business, financial condition, and results of operations in the reporting period in which a charge would be necessary. The Company will continue to monitor developments, including updates to the Company’s forecasts and market capitalization. An update of the Company’s assessment and related estimates may be required in the future.
Comprehensive income (loss) Comprehensive income (loss). For all periods presented, comprehensive income (loss) approximated net income (loss). Therefore, the Condensed Consolidated Statements of Comprehensive Income (Loss) have been omitted
Revenue recognition
Revenue recognition. The Company derives substantially all of its revenue from the sale of cameras, mounts, accessories, subscription and service, and implied post contract support to customers. The transaction price recognized as revenue represents the consideration the Company expects to be entitled to and is primarily comprised of product revenue, net of returns and variable consideration, which includes sales incentives provided to customers.
The Company’s camera sales contain multiple performance obligations that can include the following four separate obligations: (i) a camera hardware component (which may be bundled with hardware accessories) and the embedded firmware essential to the functionality of the camera component delivered at the time of sale, (ii) a subscription and service, (iii) the implied right for the customer to receive post contract support after the initial sale (PCS), and (iv) the implicit right to the Company’s downloadable free apps and software solutions. The Company’s PCS includes the right to receive, on a when and if available basis, future unspecified firmware upgrades and features as well as bug fixes, and email, chat, and telephone support.
The Company recognizes revenue from its sales arrangements when control of the promised goods or services are transferred to its customers, in an amount that reflects the amount of consideration expected to be received in
exchange for the transferred goods or services. For the sale of hardware products, including related firmware and free software solutions, revenue is recognized when transfer of control occurs at a point in time, which generally is at the time the hardware product is shipped and collection is considered probable. For customers who purchase products directly from GoPro.com, the Company retains a portion of the risk of loss on these sales during transit, which are accounted for as fulfillment costs. For PCS, revenue is recognized ratably over 24 months, which represents the estimated period PCS is expected to be provided based on historical experience.
The Company’s subscription and service revenue is recognized primarily from its Premium+, Premium, and Quik subscription offerings and is recognized ratably over the subscription term, with any payments received in advance of services rendered recorded as deferred revenue. The Company launched its Premium+ subscription in February 2024, which includes cloud storage up to 500 gigabytes (GB) of non-GoPro content, access to GoPro’s HyperSmooth Pro video stabilization software, and the features included in the Premium subscription. The Company’s Premium subscription offers a range of services, including unlimited cloud storage of GoPro content supporting source video and photo quality, damaged camera replacement, cloud storage up to 25 GB of non-GoPro content, Quik desktop editing tools, which was launched in February 2024, highlight videos automatically delivered via the Company’s mobile app when GoPro camera footage is uploaded to a GoPro cloud account using Auto Upload, access to a high-quality live streaming service on GoPro.com as well as discounts on GoPro cameras, gear, mounts, and accessories. The Company also offers the Quik subscription that provides access to a suite of simple single-clip and multi-clip editing tools. For the three months ended March 31, 2024, subscription and service revenue was $25.9 million, or 16.7% of total revenue. Subscription and service revenue as a percentage of 2023 annual revenue was not material.
For the Company’s camera sale arrangements with multiple performance obligations, revenue is allocated to each performance obligation based on its relative standalone selling price. Standalone selling prices are based on observable prices at which the Company separately sells its products, and subscription and service. If a standalone selling price is not directly observable, then the Company estimates the standalone selling prices considering market conditions and entity-specific factors. For example, the standalone selling price for PCS is determined based on a cost-plus approach, which incorporates the level of support provided to customers, estimated costs to provide such support, and the amount of time and costs that are allocated to efforts to develop the undelivered elements.
The Company’s standard terms and conditions of sale for non-web-based sales do not allow for product returns other than under warranty. However, the Company grants limited rights of return, primarily to certain large retailers. The Company reduces revenue and cost of sales for the estimated returns based on analyses of historical return trends by customer class and other factors. An estimated return liability along with a right to recover assets are recorded for future product returns. Return trends are influenced by product life cycles, new product introductions, market acceptance of products, product sell-through, the type of customer, seasonality, and other factors. Return rates may fluctuate over time but are sufficiently predictable to allow the Company to estimate expected future product returns.
The Company provides sales commissions to internal and external sales representatives which are earned in the period in which revenue is recognized. As a result, the Company expenses sales commissions as incurred.
Deferred revenue as of March 31, 2024 and December 31, 2023, includes amounts related to the Company’s subscriptions and PCS. The Company’s short-term and long-term deferred revenue balances totaled $58.4 million and $59.1 million as of March 31, 2024 and December 31, 2023, respectively. During the three months ended March 31, 2024 and 2023, the Company recognized $22.8 million and $16.5 million of revenue that was included in the deferred revenue balance as of December 31, 2023 and 2022, respectively.
Revenue Recognition, Incentives
Sales incentives. The Company offers sales incentives through various programs, including cooperative advertising, price protection, marketing development funds, and other incentives. Sales incentives are considered to be variable consideration, which the Company estimates and records as a reduction to revenue at the date of sale. The Company estimates sales incentives based on historical experience, product sell-through, and other factors.
Income Tax, Policy
Income taxes. The Company utilizes the asset and liability method for computing its income tax provision, under which, deferred tax assets and liabilities are recognized for the expected future consequences of temporary
differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates. Management makes estimates, assumptions, and judgments to determine the Company’s provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against deferred tax assets. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income in each tax jurisdiction and, to the extent the Company believes recovery is not likely, establishes a valuation allowance.
The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized from such positions are then measured based on the largest benefit that has a greater than 50% likelihood of being realized upon settlement. Interest and penalties related to unrecognized tax benefits are recognized within income tax expense.
Segment information
Segment information. The Company operates as one operating segment as it only reports financial information on an aggregate and consolidated basis to its Chief Executive Officer, who is the Company’s chief operating decision maker.
Business Combinations Policy
Business Acquisitions. The Company accounts for acquired businesses using the acquisition method of accounting, which requires that once control of a business is obtained, 100% of the assets acquired and liabilities assumed be recorded at the date of acquisition at their respective fair values. Any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Acquisition-related expenses including transaction and integration costs are expensed as incurred. The Company uses various models to determine the value of assets acquired such as the cost method. Determining the useful life of an intangible asset also requires judgment as different types of intangible assets will have different useful lives and certain assets may be considered to have indefinite useful lives.
Liquidity Liquidity. As of March 31, 2024, the Company had $133.7 million in cash, cash equivalents and marketable securities. Based on the Company’s current cash balance, its cost reductions implemented to date, and working capital adjustments, the Company anticipates it will have sufficient funds to meet its strategic and working capital requirements, debt service requirements and lease payment obligations for at least twelve months from the issuance of these condensed consolidated financial statements. The Company also had $44.8 million available to draw from its 2021 Credit Agreement (as defined below) as of March 31, 2024 and as its 2025 Notes are due in November 2025, the Company has the ability to convert the balance due into stock. If the Company is unable to obtain adequate debt or equity financing when it is required or on terms acceptable to the Company, the Company’s ability to grow its business, repay debt and respond to business challenges could be significantly limited. Although management believes its current cash resources are sufficient to sustain operations for one year from issuance of these condensed consolidated financial statements, the success of the Company’s operations and the global economic outlook, among other factors, could impact its business and liquidity. The Company will continue to evaluate additional measures, including cost reduction initiatives, debt or equity refinancing, and other similar arrangements. The current cash flow projections used in the Company’s evaluation do not include the impact of these additional measures.
v3.24.1.u1
Equity (Policies) - USD ($)
 3 Months Ended
Mar. 31, 2024
Feb. 09, 2023
Jan. 27, 2022
Equity [Abstract]      
Stockholders' Equity, Policy
6. Stockholders’ equity
Stock Repurchase Program. On January 27, 2022, the Company’s board of directors authorized the repurchase of up to $100 million of its Class A common stock, and on February 9, 2023, the Company’s board of directors authorized the repurchase of an additional $40 million of its Class A common stock. Stock repurchases under the program may be made periodically using a variety of methods, including without limitation, open market purchases, block trades or otherwise in compliance with all federal and state securities laws and state corporate law and in accordance with the single broker, timing, price, and volume guidelines set forth in Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, as such guidelines may be modified by the SEC from time to time. This stock repurchase program has no time limit and may be modified, suspended, or discontinued at any time. The Company currently intends to hold its repurchased shares as treasury stock.
As of March 31, 2024, the remaining amount of share repurchases under the program was $60.4 million. The following table summarizes share repurchases during the three months ended March 31, 2024 and 2023.

Three months ended March 31,
(in thousands, except per share data)20242023
Shares repurchased— 890 
Average price per share$— $5.62 
Value of shares repurchased$— $5,000 
    
Stock Repurchase Program, Remaining Authorized Repurchase Amount $ 60,400,000    
Stock Repurchase Program, Authorized Amount   $ 40 $ 100
v3.24.1.u1
Compensation Related Costs, Share Based Payments (Policies)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Share-based Payment Arrangement
There was no income tax benefit related to stock-based compensation expense for the three months ended March 31, 2024 due to a full valuation allowance on the Company’s United States net deferred tax assets. The income tax benefit related to stock-based compensation expense for the three months ended March 31, 2023 was $2.3 million. See Note 9, Income taxes, for additional details.
As of March 31, 2024, total unearned stock-based compensation of $51.8 million related to stock options, RSUs, PSUs, and ESPP shares is expected to be recognized over a weighted-average period of 2.32 years
v3.24.1.u1
Fair value measurements (Tables)
 3 Months Ended
Mar. 31, 2024
Fair Value Disclosures [Abstract]  
Assets measured at fair value on recurring basis
The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows:
March 31, 2024December 31, 2023
(in thousands)Level 1Level 2TotalLevel 1Level 2Total
Cash equivalents (1):
Money market funds$87,200 $— $87,200 $152,760 $— $152,760 
Total cash equivalents$87,200 $— $87,200 $152,760 $— $152,760 
Marketable securities:
U.S. treasury securities$— $— $— $— $7,962 $7,962 
Commercial paper— — — — 7,942 7,942 
Corporate debt securities— — — — 3,978 3,978 
Government securities— — — — 3,985 3,985 
Total marketable securities$— $— $— $— $23,867 $23,867 
(1)    Included in cash and cash equivalents in the accompanying Condensed Consolidated Balance Sheets. Cash balances were $46.4 million and $69.9 million as of March 31, 2024 and December 31, 2023, respectively.
v3.24.1.u1
Condensed consolidated financial statement details (Tables)
 3 Months Ended
Mar. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Inventory
(in thousands)
March 31, 2024December 31, 2023
Components
$20,510 $20,311 
Finished goods
110,742 85,955 
Total inventory
$131,252 $106,266 
Property, Plant and Equipment
Property and equipment, net
(in thousands)
March 31, 2024December 31, 2023
Leasehold improvements$23,904 $23,818 
Production, engineering, and other equipment37,337 38,574 
Tooling5,688 5,678 
Computers and software14,085 13,896 
Furniture and office equipment4,575 4,575 
Tradeshow equipment and other1,503 1,502 
Construction in progress231 83 
Gross property and equipment
87,323 88,126 
Less: Accumulated depreciation and amortization(78,404)(79,440)
Property and equipment, net
$8,919 $8,686 
Schedule of Other Assets
(in thousands)
March 31, 2024December 31, 2023
Point of purchase (POP) displays
$11,296 $6,254 
Deposits and other
7,977 8,233 
Intangible assets, net7,359 15 
Long-term deferred tax assets
697 296,984 
Other long-term assets$27,329 $311,486 
Intangible assets
Useful life
(in months)		March 31, 2024
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$58,566 $(51,222)$7,344 
Domain name15 —15 
Total intangible assets
$58,581$(51,222)$7,359
Useful life
(in months)		December 31, 2023
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$51,066 $(51,066)$— 
Domain name15 —15 
Total intangible assets
$51,081$(51,066)$15
The gross carrying value of purchased technology increased $7.5 million from December 31, 2023 as result of the acquisition of Forcite Helmet Systems in February 2024 (see Note 2 Business Acquisitions). Amortization expense was $0.2 million and zero for the three months ended March 31, 2024 and 2023, respectively. At March 31, 2024, expected amortization expense of intangible assets with definite lives for future periods was as follows:
(in thousands)
Total
Year ending December 31,
2024 (remaining 9 months)$1,406 
20251,875 
20261,875 
20271,875 
2028313 
$7,344 
Schedule of Accrued Liabilities
Accrued expenses and other current liabilities
(in thousands)
March 31, 2024December 31, 2023
Accrued sales incentives$33,727 $42,752 
Accrued liabilities19,824 21,214 
Employee related liabilities (1)
10,387 18,969 
Warranty liabilities6,813 8,270 
Return liability5,157 6,389 
Inventory received
2,637 1,745 
Customer deposits
2,527 1,933 
Purchase order commitments
1,658 899 
Other
6,617 7,878 
Accrued expenses and other current liabilities$89,347 $110,049 
Schedule of Product Warranty Liability
Product warranty
Three months ended March 31,
(in thousands)
20242023
Beginning balance
$8,759 $8,319 
Charged to cost of revenue
1,811 3,755 
Settlement of warranty claims
(3,531)(4,829)
Warranty liability
$7,039 $7,245 
As of March 31, 2024 and December 31, 2023, $6.8 million and $8.3 million, respectively, of the warranty liability was recorded as a component of accrued expenses and other current liabilities, and $0.2 million and $0.5 million, respectively, was recorded as a component of other long-term liabilities.
v3.24.1.u1
Employee benefit plans (Tables)
 3 Months Ended
Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]  
schedule of share-based compensation, Performance Stock Units Award Activity [Table Text Block]
A summary of the Company’s PSU activity for the three months ended March 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 2023829 

$6.40 
Granted— — 
Vested(297)6.46 
Forfeited(12)5.79 
Non-vested shares at March 31, 2024520 $6.38 
Schedule of Share-based Compensation, Stock Options, Activity
A summary of the Company’s stock option activity for the three months ended March 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average exercise price
Weighted-average remaining contractual term (in years)
Aggregate intrinsic value (in thousands)
Outstanding at December 31, 20232,684 $8.43 5.08$— 
Granted— — 
Exercised— — 
Forfeited/Cancelled(98)16.39 
Outstanding at March 31, 20242,586 $8.13 5.02$— 
Vested and expected to vest at March 31, 20242,586 $8.13 5.02$— 
Exercisable at March 31, 20242,208 $8.52 4.40$— 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the Company’s RSU activity for the three months ended March 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 202311,494 $5.94 
Granted2,287 2.49 
Vested(2,248)6.75 
Forfeited(469)5.49 
Non-vested shares at March 31, 202411,064 $5.08 
Allocation of Stock-based Compensation Expense The Company measures compensation expense for all stock-based payment awards based on the estimated fair values on the date of the grant. The fair value of stock options granted and ESPP issuances is estimated using the Black-Scholes option pricing model. The fair value of RSUs and PSUs are determined using the Company’s closing stock price on the date of grant. There have been no significant changes in the Company’s valuation assumptions from those disclosed in its 2023 Annual Report.
The following table summarizes stock-based compensation expense included in the Condensed Consolidated Statements of Operations:
Three months ended March 31,
(in thousands)
20242023
Cost of revenue
$415 $466 
Research and development
4,265 4,746 
Sales and marketing
1,744 2,178 
General and administrative
2,346 2,924 
Total stock-based compensation expense$8,770 $10,314 
Class of Treasury Stock
Three months ended March 31,
(in thousands, except per share data)20242023
Shares repurchased— 890 
Average price per share$— $5.62 
Value of shares repurchased$— $5,000 
v3.24.1.u1
Net loss per share (Tables)
 3 Months Ended
Mar. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Net Income per Share, Basic and Diluted
8. Net loss per share
The following table presents the calculations of basic and diluted net loss per share for the three months ended March 31, 2024 and 2023:
Three months ended March 31,
(in thousands, except per share data)20242023
Numerator:
Net loss $(339,088)$(29,869)
Denominator:
Weighted-average common shares—basic and diluted for Class A and Class B common stock151,091 155,402 
Basic and diluted net loss per share$(2.24)$(0.19)
Schedule of Antidilutive Securities Excluded from Computation of Net Income per Share
The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive:
Three months ended March 31,
(in thousands)
20242023
Stock-based awards15,689 14,500 
Shares related to convertible senior notes10,050 15,410 
Total anti-dilutive securities25,739 29,910 
v3.24.1.u1
Income taxes (Tables)
 3 Months Ended
Mar. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
The following table provides the income tax expense (benefit) amount:
Three months ended March 31,
(dollars in thousands)20242023
Income tax expense (benefit)$298,209 $(8,253)
v3.24.1.u1
Commitments, contingencies and guarantees (Tables)
 3 Months Ended
Mar. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Components of Lease Expense [Text Block]
The components of net lease cost, which were primarily recorded in operating expenses, were as follows:
Three months ended March 31,
(in thousands)20242023
Operating lease cost (1)
$2,800 $3,358 
Sublease income(723)(723)
Net lease cost$2,077 $2,635 
(1)    Operating lease cost includes variable lease costs, which are immaterial.

Supplemental cash flow information related to leases was as follows:
Three months ended March 31,
(in thousands)20242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$3,392 $3,791 
Right-of-use assets obtained in exchange for operating lease liabilities513 186 

Supplemental balance sheet information related to leases was as follows:
March 31, 2024December 31, 2023
Weighted-average remaining lease term (in years) - operating leases2.843.05
Weighted-average discount rate - operating leases6.2%6.2%
Schedule of Maturities of Lease Liabilities [Text Block]
As of March 31, 2024, maturities of operating lease liabilities were as follows:
(in thousands)
March 31, 2024
2024 (remaining 9 months)$8,979 
202513,284 
202612,509 
20271,482 
2028462 
Thereafter103 
Total lease payments36,819 
Less: Imputed interest(3,323)
Present value of lease liabilities$33,496 
v3.24.1.u1
Concentrations of risk and geographic information (Tables)
 3 Months Ended
Mar. 31, 2024
Concentration Risk [Line Items]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The following table summarizes the Company’s accounts receivables sold, without recourse, and factoring fees paid:
Three months ended March 31,
(in thousands)
20242023
Accounts receivable sold$17,642 $16,434 
Factoring fees236 264 
Schedule of Revenue by Geographic Region
Revenue by geographic region, based on ship-to locations, was as follows:
Three months ended March 31,
(in thousands)
20242023
Americas
$76,597 $89,519 
Europe, Middle East and Africa (EMEA)52,008 46,016 
Asia and Pacific (APAC)
26,864 39,185 
Total revenue
$155,469 $174,720 
Accounts Receivable [Member]  
Concentration Risk [Line Items]  
Schedules of Customer Concentration by Risk Factor
Customers who represented 10% or more of the Company’s net accounts receivable balance were as follows:
March 31, 2024December 31, 2023
Customer A26%30%
Customer B18%11%
Sales Revenue [Member]  
Concentration Risk [Line Items]  
Schedules of Customer Concentration by Risk Factor
No third-party customer represented 10% or more of the Company's total revenue as of March 31, 2024 and 2023.
v3.24.1.u1
Summary of business and significant accounting policies (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Apr. 22, 2024
Dec. 31, 2023
Nov. 24, 2020
Property, Plant and Equipment [Line Items]          
Contract with Customer, Liability $ 58,400     $ 59,100  
Deferred Revenue, Revenue Recognized 22,800 $ 16,500      
Accumulated deficit (588,384)     (249,296)  
Product Warranty Liability [Line Items]          
Gain (Loss) on Extinguishment of Debt 3,100        
Revenues 155,469 174,720      
Gain (Loss) on Extinguishment of Debt 3,100        
Revenues $ 155,469 174,720      
Liquidity Liquidity. As of March 31, 2024, the Company had $133.7 million in cash, cash equivalents and marketable securities. Based on the Company’s current cash balance, its cost reductions implemented to date, and working capital adjustments, the Company anticipates it will have sufficient funds to meet its strategic and working capital requirements, debt service requirements and lease payment obligations for at least twelve months from the issuance of these condensed consolidated financial statements. The Company also had $44.8 million available to draw from its 2021 Credit Agreement (as defined below) as of March 31, 2024 and as its 2025 Notes are due in November 2025, the Company has the ability to convert the balance due into stock. If the Company is unable to obtain adequate debt or equity financing when it is required or on terms acceptable to the Company, the Company’s ability to grow its business, repay debt and respond to business challenges could be significantly limited. Although management believes its current cash resources are sufficient to sustain operations for one year from issuance of these condensed consolidated financial statements, the success of the Company’s operations and the global economic outlook, among other factors, could impact its business and liquidity. The Company will continue to evaluate additional measures, including cost reduction initiatives, debt or equity refinancing, and other similar arrangements. The current cash flow projections used in the Company’s evaluation do not include the impact of these additional measures.        
Cash and cash equivalents $ 133,658 $ 157,826   $ 222,708  
Share Price $ 2.23   $ 1.69    
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount 34.00%   13.00%    
Subscription and Service Revenue          
Product Warranty Liability [Line Items]          
Revenue from Contract with Customer, Excluding Assessed Tax $ 25,900        
Revenue from Contract with Customer, Excluding Assessed Tax $ 25,900        
Subscription and Service Revenue | Revenue from Contract with Customer Benchmark | Product Concentration Risk          
Product Warranty Liability [Line Items]          
Concentration risk 16.70%        
Concentration risk 16.70%        
Convertible Senior Notes due 2025 [Member]          
Property, Plant and Equipment [Line Items]          
Interest rate         1.25%
Debt Instrument         $ 143,800
v3.24.1.u1
Business Acquisitions (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Feb. 27, 2024
Dec. 31, 2023
Business Acquisition [Line Items]        
Identifiable intangible assets     $ 7,500  
Goodwill $ 152,351   $ 5,900 $ 146,459
Allocated share-based compensation expense 8,770 $ 10,314    
Business Combination, Consideration Transferred $ 14,000      
v3.24.1.u1
Fair value measurements (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Nov. 24, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash $ 46,400 $ 69,900  
Marketable securities 0 23,867  
Repayments of Convertible Debt 50,000    
Fair Value, Recurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and Cash Equivalents 87,200 152,760  
Marketable securities 0 23,867  
Fair Value, Recurring [Member] | Money Market Funds [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and Cash Equivalents 87,200 152,760  
Fair Value, Recurring [Member] | Level 1 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and Cash Equivalents 87,200 152,760  
Marketable securities 0 0  
Fair Value, Recurring [Member] | Level 1 [Member] | Money Market Funds [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and Cash Equivalents 87,200 152,760  
Fair Value, Recurring [Member] | Level 2 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and Cash Equivalents 0 0  
Marketable securities 0 23,867  
Fair Value, Recurring [Member] | Level 2 [Member] | Money Market Funds [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Cash and Cash Equivalents 0 0  
Convertible Senior Notes due 2025 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Debt Instrument     $ 143,800
Convertible Senior Notes due 2025 [Member] | Level 2 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Fair value of convertible senior notes 85,600 82,300  
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 3,978  
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Level 1 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 0  
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Level 2 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 3,978  
Commercial Paper | Fair Value, Recurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 7,942  
Commercial Paper | Fair Value, Recurring [Member] | Level 1 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 0  
Commercial Paper | Fair Value, Recurring [Member] | Level 2 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 7,942  
US Government Debt Securities [Member] | Fair Value, Recurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 3,985  
US Government Debt Securities [Member] | Fair Value, Recurring [Member] | Level 1 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 0  
US Government Debt Securities [Member] | Fair Value, Recurring [Member] | Level 2 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 3,985  
US Treasury Securities | Fair Value, Recurring [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 7,962  
US Treasury Securities | Fair Value, Recurring [Member] | Level 1 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities 0 0  
US Treasury Securities | Fair Value, Recurring [Member] | Level 2 [Member]      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Marketable securities $ 0 $ 7,962  
v3.24.1.u1
Condensed consolidated financial statement details - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Cash and Cash Equivalents [Line Items]      
Cash $ 46,400 $ 69,900  
Cash and cash equivalents $ 133,658 $ 222,708 $ 157,826
v3.24.1.u1
Condensed consolidated financial statement details - Inventory (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Components $ 20,510 $ 20,311
Finished goods 110,742 85,955
Total inventory $ 131,252 $ 106,266
v3.24.1.u1
Condensed consolidated financial statement details - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]    
Gross property and equipment $ 87,323 $ 88,126
Less: Accumulated depreciation and amortization (78,404) (79,440)
Property and equipment, net 8,919 8,686
Leasehold Improvements [Member]    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 23,904 23,818
Production, engineering and other equipment [Member]    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 37,337 38,574
Tooling [Member]    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 5,688 5,678
Computers and software [Member]    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 14,085 13,896
Furniture and office equipment [Member]    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 4,575 4,575
Tradeshow Equipment and other [Member]    
Property, Plant and Equipment [Line Items]    
Gross property and equipment 1,503 1,502
Construction in Progress [Member]    
Property, Plant and Equipment [Line Items]    
Gross property and equipment $ 231 $ 83
v3.24.1.u1
Condensed consolidated financial statement details - Intangible Assets and Goodwill (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Feb. 27, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]        
Finite-Lived Intangible Assets, Gross $ 58,566     $ 51,066
Finite-Lived Intangible Assets, Accumulated Amortization (51,222)     (51,066)
Finite-Lived Intangible Assets, Net, Total 7,344     0
Intangible Assets, Gross (Excluding Goodwill) 58,581     51,081
Intangible assets, net 7,359     15
Indefinite-lived Intangible Assets [Roll Forward]        
Amortization of intangible assets 200 $ 0    
Goodwill 152,351   $ 5,900 146,459
Indefinite-Lived Trademarks 15     15
Finite-Lived Intangible Assets [Line Items]        
Intangible Assets, Net (Excluding Goodwill) $ 7,359     $ 15
v3.24.1.u1
Condensed consolidated financial statement details - Future Amortization (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Finite-Lived Intangible Asset, Expected Amortization, Year Two $ 1,875  
Finite-Lived Intangible Assets, Net, Total 7,344 $ 0
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Asset, Expected Amortization, Year Two 1,875  
Finite-Lived Intangible Assets, Amortization Expense, Year Three 1,875  
Finite-Lived Intangible Asset, Expected Amortization, Year Four 1,875  
Finite-Lived Intangible Asset, Expected Amortization, Year Five 313  
2020 1,406  
Finite-Lived Intangible Assets, Net $ 7,344 $ 0
v3.24.1.u1
Condensed consolidated financial statement details - Goodwill (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Feb. 27, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Goodwill $ 152,351 $ 5,900 $ 146,459
v3.24.1.u1
Condensed consolidated financial statement details - Other Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
POP Displays $ 11,296   $ 6,254
Deposits and other 7,977   8,233
Other long-term assets 27,329   311,486
Amortization of intangible assets 200 $ 0  
Intangible Assets, Net (Excluding Goodwill) 7,359   15
Deferred Income Tax Assets, Net $ 697    
Long-term deferred tax assets     $ 296,984
v3.24.1.u1
Condensed consolidated financial statement details - Product Warranty (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Beginning balances $ 8,759 $ 8,319  
Charged to cost of revenue 1,811 3,755  
Settlements of warranty claims (3,531) (4,829)  
Ending balances 7,039 $ 7,245  
Product Warranty Accrual, Noncurrent 200   $ 500
Product Warranty Accrual, Current $ 6,813   $ 8,270
v3.24.1.u1
Condensed consolidated financial statement details - Accrued Liabilities (Details) - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Product Warranty Accrual, Current $ 6,813 $ 8,270
Employee related liabilities 10,387 18,969
Accrued sales incentives 33,727 42,752
Other Accounts Payable and Accrued Liabilities 19,824 21,214
Customer Refund Liability, Current 5,157 6,389
Customer deposits 2,527 1,933
Purchase Commitment, Remaining Minimum Amount Committed 1,658 899
Inventory received 2,637 1,745
Other 6,617 7,878
Accrued expenses and other current liabilities $ 89,347 $ 110,049
v3.24.1.u1
Financing Arrangements (Details)
 3 Months Ended
Jan. 21, 2021
USD ($)
Nov. 24, 2020
USD ($)
$ / shares
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Jan. 22, 2021
USD ($)
Line of Credit Facility [Line Items]              
Long-term debt     $ 92,743,000     $ 92,615,000  
Debt Instrument, Covenant Compliance, Asset Coverage Ratio     1.50        
Adjustments to Additional Paid in Capital, Capped Call Option, Issuance Costs     $ 10,200,000        
Option Indexed To Issuers Equity, cap price   $ 12.0925          
Gain (Loss) on Extinguishment of Debt     3,100,000        
Debt Instrument, Repurchase Amount         $ 46,300,000    
Debt Instrument, Repurchased Face Amount         $ 49,400,000    
Letters of Credit Outstanding, Amount     5,200,000        
Convertible Senior Notes due 2025 [Member] | Private Placement [Member]              
Line of Credit Facility [Line Items]              
Debt Instrument   125,000,000          
2021 Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Credit agreement, current borrowing capacity             $ 50,000,000
Minimum Fixed Charge Coverage Ratio, minimum balance $ 10,000,000            
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount 55,000,000            
Line of Credit Facility, Unused Capacity, Qualified Cash $ 40,000,000            
Line of Credit Facility, Remaining Borrowing Capacity     44,800,000        
Line of Credit Facility, Remaining Borrowing Capacity     44,800,000        
Convertible Senior Notes due 2025 [Member]              
Line of Credit Facility [Line Items]              
Debt Instrument   $ 143,800,000          
Interest rate   1.25%          
Debt Instrument, Convertible, Conversion Ratio   107.1984          
Convertible Debt Principal Amount Conversion   $ 1,000 $ 93,800,000     $ 93,800,000  
Debt Instrument, Convertible, Conversion Price | $ / shares   $ 9.3285          
Effective rate     0.50%     2.80%  
Percentage of conversion price of notes     130.00%        
Percentage of trading price of notes     98.00%        
Long-term debt     $ 92,700,000     $ 92,600,000  
Interest Expense, Debt     300,000 $ 400,000      
Amortization of Debt Issuance Costs     200,000 $ 200,000      
Convertible Senior Notes due 2025 [Member] | Long-term Debt [Member]              
Line of Credit Facility [Line Items]              
Debt Issuance Costs, Net     $ 1,000,000     $ 1,200,000  
Convertible Senior Notes due 2025 [Member] | Over-Allotment Option [Member]              
Line of Credit Facility [Line Items]              
Debt Instrument   $ 18,800,000          
Base Rate [Member] | Minimum [Member] | 2021 Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Basis Spread on Variable Rate 0.50%            
Base Rate [Member] | Maximum [Member] | 2021 Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Basis Spread on Variable Rate 1.00%            
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum [Member] | 2021 Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Basis Spread on Variable Rate 1.50%            
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum [Member] | 2021 Credit Facility [Member]              
Line of Credit Facility [Line Items]              
Basis Spread on Variable Rate 2.00%            
v3.24.1.u1
Stockholders' equity (Details) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Feb. 09, 2023
Dec. 31, 2022
Jan. 27, 2022
Class of Stock [Line Items]            
Stock options outstanding (shares) 2,586,000   2,684,000      
Stockholders' Equity Attributable to Parent $ 224,912,000 $ 585,150,000 $ 555,846,000   $ 611,559,000  
Stock Repurchase Program, Authorized Amount       $ 40   $ 100
Stock Repurchase Program, Remaining Authorized Repurchase Amount $ 60,400,000          
Treasury Stock, Shares, Acquired 0 890        
Treasury Stock Acquired, Average Cost Per Share $ 0 $ 5.62        
Stock Repurchased During Period, Value $ 0 $ 5,000,000        
Treasury Stock, Value, Acquired, Cost Method   5,000,000        
Treasury Stock, Common            
Class of Stock [Line Items]            
Stockholders' Equity Attributable to Parent $ (193,231,000) $ (158,231,000) $ (193,231,000)   $ (153,231,000)  
Common Class A [Member]            
Class of Stock [Line Items]            
Common stock authorized (shares) 500,000,000   500,000,000      
Common stock outstanding (shares) 126,041,000   123,638,000      
Common Stock, Voting Rights, Number 1          
Common Stock, Shares, Issued 126,041,000   123,638,000      
Common Class B [Member]            
Class of Stock [Line Items]            
Common stock authorized (shares) 150,000,000   150,000,000      
Common stock outstanding (shares) 26,259,000   26,259,000      
Common Stock, Voting Rights, Number 10          
Common Stock, Shares, Issued 26,259,000   26,259,000      
Restricted Stock Units (RSUs) [Member]            
Class of Stock [Line Items]            
Restricted stock units outstanding (shares) 11,064,000   11,494,000      
Performance Shares [Member]            
Class of Stock [Line Items]            
Restricted stock units outstanding (shares) 520,000   829,000      
v3.24.1.u1
Employee benefit plans - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Allocated share-based compensation expense $ 8,770 $ 10,314
ESPP stock issued during period (shares) 700,000 500,000
ESPP weighted average purchase price of shares purchased (usd per share) $ 2.12 $ 5.09
Unearned stock-based compensation, expected recognition period 2 years 3 months 25 days  
Share-based Payment Arrangement, Expense, Tax Benefit   $ 2,300
Stock Repurchased During Period, Shares   890,000
Treasury Stock Acquired, Average Cost Per Share $ 0 $ 5.62
Stock Repurchased During Period, Value $ 0 $ 5,000
RSUs [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Shares granted (shares) 2,287,000  
Weighted average price of shares granted (usd per share) $ 2.49  
Performance Shares [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Shares granted (shares) 0  
Weighted average price of shares granted (usd per share) $ 0  
Employee Stock Purchase Plan Shares [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Purchase Price of Common Stock, Percent 85.00%  
Stock Options, ESPP and Restricted Stock Units (RSUs) [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Unearned stock-based compensation costs $ 51,800  
2014 Equity Incentive Plans [Member] | Stock Options [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Expiration Period 10 years  
2014 Equity Incentive Plans [Member] | Performance Shares [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award Vesting Period 3 years  
2014 Equity Incentive Plans [Member] | Minimum [Member] | Stock Options [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award Vesting Period 1 year  
2014 Equity Incentive Plans [Member] | Minimum [Member] | RSUs [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award Vesting Period 2 years  
2014 Equity Incentive Plans [Member] | Maximum [Member] | Stock Options [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award Vesting Period 4 years  
2014 Equity Incentive Plans [Member] | Maximum [Member] | RSUs [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Award Vesting Period 4 years  
v3.24.1.u1
Employee benefit plans - Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands
 3 Months Ended
Dec. 31, 2023
Mar. 31, 2024
Shares (in thousands)    
Outstanding at beginning of period (shares)   2,684
Granted (shares)   0
Exercised (shares)   0
Forfeited/Cancelled (shares)   (98)
Outstanding at end of period (shares) 2,684 2,586
Weighted-average exercise price    
Outstanding at beginning of period (in dollars per share)   $ 8.43
Granted (usd per share)   0
Exercised (usd per share)   0
Outstanding at end of period (in dollars per share) $ 8.43 $ 8.13
Aggregate intrinsic value (in thousands) $ 0 $ 0
Vested and Expected to Vest (shares)   2,586
Vested and Expected to Vest - Weighted Average Exercise Price (in dollars per share)   $ 8.13
Vested and Expected to Vest- Weighted Average Remaining Contractual Term   5 years 7 days
Vested and Expected to Vest - Aggregate Intrinsic Value   $ 0
Exercisable (shares)   2,208
Exercisable - Weighted average exercise price (in dollars per share)   $ 8.52
Exercisable - Weighted Average Remaining Contractual Term   4 years 4 months 24 days
Exercisable - Aggregate intrinsic value   $ 0
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price   $ 16.39
Weighted Average Remaining Contractual Term (in years) 5 years 29 days 5 years 7 days
v3.24.1.u1
Employee benefit plans - Restricted Stock Units Activity (Details)
shares in Thousands
 3 Months Ended
Mar. 31, 2024
$ / shares
shares
RSUs [Member]  
Shares (in thousands)  
Non-vested shares at beginning of period (shares) | shares 11,494
Granted (shares) | shares 2,287
Vested (shares) | shares (2,248)
Forfeited (shares) | shares (469)
Non-vested shares at end of period (shares) | shares 11,064
Weighted-average grant date fair value  
Non-vested shares at beginning of period (in dollars per share) | $ / shares $ 5.94
Weighted average price of shares granted (usd per share) | $ / shares 2.49
Weighted average price of shares vested (usd per share) | $ / shares 6.75
Weighted average price of shares forfeited (usd per share) | $ / shares 5.49
Non-vested shares at end of period (in dollars per share) | $ / shares $ 5.08
Performance Shares [Member]  
Shares (in thousands)  
Non-vested shares at beginning of period (shares) | shares 829
Granted (shares) | shares 0
Vested (shares) | shares (297)
Forfeited (shares) | shares (12)
Non-vested shares at end of period (shares) | shares 520
Weighted-average grant date fair value  
Non-vested shares at beginning of period (in dollars per share) | $ / shares $ 6.40
Weighted average price of shares granted (usd per share) | $ / shares 0
Weighted average price of shares vested (usd per share) | $ / shares 6.46
Weighted average price of shares forfeited (usd per share) | $ / shares 5.79
Non-vested shares at end of period (in dollars per share) | $ / shares $ 6.38
v3.24.1.u1
Employee benefit plans - Allocation of Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense $ 8,770 $ 10,314
Share-based Payment Arrangement, Expense, Tax Benefit   2,300
Unearned stock-based compensation, expected recognition period 2 years 3 months 25 days  
Cost of Revenue [Member]    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense $ 415 466
Research and Development [Member]    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense 4,265 4,746
Selling and Marketing Expense [Member]    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense 1,744 2,178
General and Administrative [Member]    
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]    
Total stock-based compensation expense $ 2,346 $ 2,924
v3.24.1.u1
Employee benefit plans Performance Stock Units activity (Details) - $ / shares
shares in Thousands
 3 Months Ended
Mar. 31, 2024
Dec. 31, 2023
Performance Shares [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Restricted stock units outstanding (shares) 520 829
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 6.38 $ 6.40
Granted (shares) 0  
Weighted average price of shares granted (usd per share) $ 0  
Vested (shares) (297)  
Weighted average price of shares vested (usd per share) $ 6.46  
Forfeited (shares) (12)  
Weighted average price of shares forfeited (usd per share) $ 5.79  
Restricted Stock Units (RSUs) [Member]    
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]    
Restricted stock units outstanding (shares) 11,064 11,494
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 5.08 $ 5.94
Granted (shares) 2,287  
Weighted average price of shares granted (usd per share) $ 2.49  
Vested (shares) (2,248)  
Weighted average price of shares vested (usd per share) $ 6.75  
Forfeited (shares) (469)  
Weighted average price of shares forfeited (usd per share) $ 5.49  
v3.24.1.u1
Net loss per share Additional Information (Details)
 3 Months Ended
Mar. 31, 2024
shares
Nov. 24, 2020
USD ($)
$ / shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Conversion of Stock maxium percent of outstanding shares in class of total outstanding shares 10.00%  
Option Indexed To Issuers Equity, cap price | $   $ 12.0925
Conversion of Stock maxium percent of outstanding shares in class of total outstanding shares 10.00%  
Common Class A [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Common Stock, Voting Rights, Number 1  
Conversion of Stock, Shares Issued 1  
Common Class B [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Common Stock, Voting Rights, Number 10  
Convertible Senior Notes due 2025 [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Debt Instrument | $   $ 143,800,000
Interest rate   1.25%
Debt Instrument, Convertible, Conversion Price | $ / shares   $ 9.3285
v3.24.1.u1
Net loss per share - Basic and Diluted Net Income per Share Attributable to Common Stockholders (Details) - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Numerator:    
Net loss $ (339,088) $ (29,869)
Denominator:    
Weighted Average Number of Shares Outstanding, Basic 151,091 155,402
v3.24.1.u1
Net loss per share - Antidilutive Securities Excluded from Computation of Net Income per Share (Details) - shares
shares in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Earnings Per Share [Abstract]    
Antidilutive securities excluded from computation of earnings per share (shares) 25,739 29,910
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (shares) 25,739 29,910
Convertible Debt Securities    
Earnings Per Share [Abstract]    
Antidilutive securities excluded from computation of earnings per share (shares) 10,050 15,410
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (shares) 10,050 15,410
Share-based Payment Arrangement    
Earnings Per Share [Abstract]    
Antidilutive securities excluded from computation of earnings per share (shares) 15,689 14,500
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Antidilutive securities excluded from computation of earnings per share (shares) 15,689 14,500
v3.24.1.u1
Income taxes - Income Tax Expense (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Tax Disclosure [Abstract]    
Income tax (benefit) expense $ 298,209 $ (8,253)
Current Foreign Tax Expense (Benefit) 1,400 8,800
Other Tax Expense (Benefit)   100
Income Tax Effects Allocated Directly to Equity, Other 2,500 $ 300
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions 3,700  
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 294,900  
Minimum Effective Tax 1500.00%  
v3.24.1.u1
Income taxes - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Operating Loss Carryforwards [Line Items]      
Other Tax Expense (Benefit)   $ 100  
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 294,900    
Income tax (benefit) expense 298,209 (8,253)  
Loss before income taxes (40,879) (38,122)  
Current Foreign Tax Expense (Benefit) 1,400 8,800  
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount 294,900    
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions (3,700)    
Unrecognized Tax Benefits 26,900   $ 25,800
Unrecognized Tax Benefits that Would Impact Effective Tax Rate 12,000    
Income Tax Effects Allocated Directly to Equity, Other 2,500 $ 300  
Restructuring adjustments $ 400    
v3.24.1.u1
Income taxes - Deferred Tax Assets (Details)
$ in Thousands
Mar. 31, 2024
USD ($)
Deferred tax assets:  
Deferred Tax Assets, Net, Total $ 697
v3.24.1.u1
Income taxes - Reconciliation (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Income Tax Disclosure [Abstract]    
Income tax (benefit) expense $ 298,209 $ (8,253)
v3.24.1.u1
Commitments, contingencies and guarantees (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Long-term Purchase Commitment [Line Items]      
Operating Lease, Cost $ 2,800 $ 3,358  
Operating Lease, Payments 3,392 3,791  
Finance Lease, Liability, to be Paid, Year One 8,979    
Finance Lease, Liability, to be Paid, Year Two 13,284    
Finance Lease, Liability, to be Paid, Year Three 12,509    
Finance Lease, Liability, to be Paid, Year Four 1,482    
Finance Lease, Liability, to be Paid, Year Five 462    
Lessee, Operating Lease, Liability, Payments, Due after Year Five 103    
Lessee, Operating Lease, Liability, Payments, Due (36,819)    
us-gaap_Lessee Operating Lease Liability Undiscounted Excess Amount (3,323)    
Operating Lease, Liability 33,496    
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 513 186  
Operating Lease, Weighted Average Remaining Lease Term 2 years 10 months 2 days   3 years 18 days
Operating Lease, Weighted Average Discount Rate, Percent 6.20%   6.20%
Sublease Income $ (723) (723)  
Lease, Cost 2,077 $ 2,635  
Other Commitments [Line Items]      
Other Commitment $ 143,300    
v3.24.1.u1
Concentrations of risk and geographic information - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Revenue, Major Customer [Line Items]      
Revenues $ 155,469 $ 174,720  
United States [Member]      
Revenue, Major Customer [Line Items]      
Revenues 56,300 $ 75,600  
Outside the United States [Member]      
Revenue, Major Customer [Line Items]      
Assets, Noncurrent 2,100   $ 1,600
Assets, Noncurrent $ 2,100   $ 1,600
v3.24.1.u1
Concentrations of risk and geographic information - Schedule of Customer Concentration by Risk Factor (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Concentration Risk [Line Items]      
Accounts receivable sold $ 17,642 $ 16,434  
Factoring fees $ 236 $ 264  
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer A [Member]      
Concentration Risk [Line Items]      
Concentration risk 26.00%   30.00%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer B [Member]      
Concentration Risk [Line Items]      
Concentration risk 18.00%   11.00%
v3.24.1.u1
Concentrations of risk and geographic information - Schedule of Revenue by Geographic Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Segment Reporting Information [Line Items]    
Revenues $ 155,469 $ 174,720
United States [Member]    
Segment Reporting Information [Line Items]    
Revenues 56,300 75,600
Americas [Member]    
Segment Reporting Information [Line Items]    
Revenues 76,597 89,519
Europe, Middle East and Africa [Member]    
Segment Reporting Information [Line Items]    
Revenues 52,008 46,016
Asia and Pacific Area Countries [Member]    
Segment Reporting Information [Line Items]    
Revenues $ 26,864 $ 39,185
v3.24.1.u1
Restructuring charges - Restructuring Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]        
Restructuring and Related Costs
12. Restructuring charges
Restructuring charges for each period were as follows:
Three months ended March 31,
(in thousands)
20242023
Cost of revenue
$13 $1 
Research and development
1,030 11 
Sales and marketing
550 6 
General and administrative
619 3 
Total restructuring charges
$2,212 $21 
      
Restructuring charges $ 2,212 $ 21    
Cost of Revenue [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 13 1    
Research and Development [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 1,030 11    
Selling and Marketing Expense [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 550 6    
General and Administrative [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring charges 619 $ 3    
fourth quarter 2022 restructuring        
Restructuring Cost and Reserve [Line Items]        
Other Restructuring Costs (184)      
Restructuring charges 8,100      
fourth quarter 2022 restructuring | Employee Severance [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve     $ 0 $ 7,833
Severance Costs (184)      
Cash paid (7,649)      
fourth quarter 2022 restructuring | Other Restructuring [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve     $ 0 7,833
Cash paid (7,649)      
First quarter 2024 restructuring        
Restructuring Cost and Reserve [Line Items]        
Severance Costs 2,257      
First quarter 2024 restructuring | Other Restructuring [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Reserve 2,204     $ 0
Cash paid (53)      
First quarter 2024 restructuring | Cease of use impairment charge        
Restructuring Cost and Reserve [Line Items]        
Restructuring and Related Cost, Expected Cost 3,200      
Restructuring and Related Cost, Expected Cost 3,200      
First quarter 2024 restructuring | Office space charges        
Restructuring Cost and Reserve [Line Items]        
Restructuring and Related Cost, Expected Cost 2,100      
Restructuring and Related Cost, Expected Cost $ 2,100      
v3.24.1.u1
Restructuring charges - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Restructuring Cost and Reserve [Line Items]    
Restructuring charges $ 2,212 $ 21
fourth quarter 2022 restructuring    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 8,100  
Other Restructuring Costs (184)  
fourth quarter 2022 restructuring | Employee Severance and Pay Related Costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Severance Costs (184)  
fourth quarter 2022 restructuring contract costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges 7,000  
fourth quarter 2022 restructuring transition costs [Member]    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges $ 1,100  
First quarter 2024 restructuring    
Restructuring Cost and Reserve [Line Items]    
Expected percent of positions eliminated 4.00%  
Severance Costs $ 2,257  
v3.24.1.u1
Restructuring charges - Restructuring Liability (Details) - First quarter 2024 restructuring
$ in Thousands
 3 Months Ended
Mar. 31, 2024
USD ($)
Restructuring Cost and Reserve [Line Items]  
Severance Costs $ 2,257
Other Restructuring [Member]  
Restructuring Reserve [Roll Forward]  
Restructuring liability as of October 1, 2016 0
Cash paid (53)
Restructuring liability as of December 31, 2017 $ 2,204
v3.24.1.u1
Subsequent Events (Details) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Dec. 31, 2023
Subsequent Event [Line Items]      
Restructuring charges $ 2,212 $ 21  
Sublease Income $ 723 $ 723  
Operating Lease, Weighted Average Discount Rate, Percent 6.20%   6.20%
v3.24.1.u1
Valuation and Qualifying Accounts (Details) - USD ($)
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Mar. 31, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Allowance for Doubtful Accounts Receivable [Member]              
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]              
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount       $ 450,000 $ 390,000 $ 700,000 $ 492,000
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]              
Charges to Expense $ 67,000 $ (294,000) $ 393,000        
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction $ (7,000) $ (16,000) (185,000)        
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]              
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]              
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount           $ 0 $ 287,276,000
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]              
Charges to Expense     (284,551,000)        
Charges to Revenue     0        
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction     $ (2,725,000)        
v3.24.1.u1
Label Element Value
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 223,735,000
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents $ 222,708,000