GOPRO, INC., 10-K filed on 3/12/2026
Annual Report
v3.25.4
Cover - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Mar. 05, 2026
Jun. 30, 2025
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-K    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 001-36514    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
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    
Current Fiscal Year End Date --12-31    
Document Annual Report true    
Entity Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Public Float     $ 99,478
Common Class A [Member]      
Class of Stock [Line Items]      
Entity Common Stock, Shares Outstanding   137,903,867  
Common Class B [Member]      
Class of Stock [Line Items]      
Entity Common Stock, Shares Outstanding   26,258,546  
v3.25.4
Audit Information - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Audit Information [Abstract]      
Auditor Firm ID 238    
Auditor Name PricewaterhouseCoopers LLP    
Auditor Location San Jose, California    
Revenues for Auditor Opinion $ 651,542 $ 801,473 $ 1,005,459
v3.25.4
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash, Cash Equivalents, and Short-Term Investments $ 49,674,000 $ 102,811,000
Accounts receivable, net 93,513,000 85,944,000
Inventory 78,431,000 120,716,000
Prepaid expenses and other current assets 30,951,000 29,774,000
Total current assets 252,569,000 339,245,000
Property and equipment, net 5,903,000 8,696,000
Operating Lease, Right-of-Use Asset 11,138,000 14,403,000
Goodwill 133,751,000 152,351,000
Other long-term assets 24,622,000 28,983,000
Total assets 427,983,000 543,678,000
Current liabilities:    
Accounts payable 97,012,000 85,936,000
Accrued expenses and other current liabilities 95,856,000 110,769,000
Short-term operating lease liabilities 12,069,000 10,936,000
Deferred revenue 52,636,000 55,418,000
Short-term Debt 19,598,000 93,208,000
Total current liabilities 277,171,000 356,267,000
Long-term taxes payable 13,544,000 11,621,000
Long-term debt 44,322,000 0
Long-term operating lease liabilities 7,329,000 18,067,000
Other long-term liabilities 9,067,000 6,034,000
Total liabilities 351,433,000 391,989,000
Commitments, contingencies and guarantees
Stockholders’ equity:    
Preferred Stock, Value, Outstanding 0 0
Common Stocks, Including Additional Paid in Capital 1,044,875,000 1,026,527,000
Treasury Stock, Value 193,231,000 193,231,000
Accumulated deficit (775,094,000) (681,607,000)
Total stockholders’ equity 76,550,000 151,689,000
Total liabilities and stockholders’ equity $ 427,983,000 $ 543,678,000
Preferred Stock    
Stockholders’ equity:    
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 Class A [Member]    
Stockholders’ equity:    
Common Stock, Shares Authorized (shares) 500,000,000 500,000,000
Common Stock, Shares, Issued 136,056,000 129,196,000
Common stock outstanding (shares) 136,056,000 129,196,000
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common Class B [Member]    
Stockholders’ equity:    
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
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Treasury Stock, Common    
Stockholders’ equity:    
Treasury Stock, Common, Shares 26,608,000 26,608,000
v3.25.4
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Common Class A [Member]    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common Stock, Shares Authorized (shares) 500,000,000 500,000,000
Common Stock, Shares, Issued 136,056,000 129,196,000
Common stock outstanding (shares) 136,056,000 129,196,000
Common Class B [Member]    
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
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
v3.25.4
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues, Total $ 651,542 $ 801,473 $ 1,005,459
Cost of revenue 432,376 530,178 681,886
Gross profit 219,166 271,295 323,573
Operating expenses:      
Research and development 126,796 185,897 165,688
Sales and marketing 100,756 160,635 169,578
General and administrative 56,355 59,796 63,770
Goodwill, Impairment Loss 18,600 0 0
Total operating expenses 302,507 406,328 399,036
Operating loss (83,341) (135,033) (75,463)
Interest Income (Expense), Operating and Nonoperating (8,452) (3,329) (4,699)
Total other income (expense), net 345 5,273 12,429
Nonoperating Income (Expense) (8,107) 1,944 7,730
Loss before income taxes (91,448) (133,089) (67,733)
Income tax expense (benefit) 2,039 299,222 (14,550)
Net loss $ (93,487) $ (432,311) $ (53,183)
Earnings Per Share, Diluted $ (0.59) $ (2.82) $ (0.35)
Weighted Average Number of Shares Outstanding, Diluted 158,579 153,113 153,348
Hardware      
Revenues, Total $ 545,267 $ 694,512 $ 907,975
Cost of revenue 400,419 499,882 650,085
Subscription and services      
Revenues, Total 106,275 106,961 97,484
Cost of revenue $ 31,957 $ 30,296 $ 31,801
v3.25.4
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Noncash Investing and Financing Items [Abstract]        
Income Taxes Paid, Net $ 846 $ 1,093 $ (537)  
Capital Expenditures Incurred but Not yet Paid 113 1,047 214  
Proceeds from Issuance or Sale of Equity 0 999 0  
Operating activities:        
Net loss (93,487) (432,311) (53,183)  
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 7,065 6,491 6,160  
operating lease, right-of-use asset, periodic reduction, net 3,265 1,050 3,090  
Stock-based compensation 19,542 29,132 41,479  
Goodwill, Impairment Loss 18,600 0 0  
Deferred income taxes, net 280 296,771 (17,891)  
Operating Lease, Impairment Loss 0 3,276 0  
Gain (Loss) on Extinguishment of Debt 0 0 (3,092)  
Other 1,537 461 (2,600)  
Changes in operating assets and liabilities:        
Accounts receivable, net (7,297) 5,291 (14,478)  
Inventory 42,285 (14,450) 20,865  
Prepaid expenses and other assets 2,798 1,080 (7,649)  
Accounts payable and other liabilities (11,134) (21,162) (4,226)  
Deferred revenue (4,123) (770) (1,338)  
Cash Provided by (Used in) Operating Activity, Including Discontinued Operation (20,669) (125,141) (32,863)  
Investing activities:        
Purchases of property and equipment, net (3,362) (4,039) (1,520)  
Purchases of marketable securities 0 0 (25,782)  
Maturities of marketable securities 0 24,000 149,204  
Payments to Acquire Businesses, Net of Cash Acquired 0 12,308 0  
Net cash provided by (used in) investing activities (3,362) 7,653 121,902  
Financing activities:        
Proceeds from issuance of common stock 2,706 2,150 3,876  
Payment, Tax Withholding, Share-based Payment Arrangement (1,916) (3,079) (8,008)  
Payments for Repurchase of Common Stock 0 0 (40,000)  
Early Repayment of Senior Debt (93,750) 0 (46,250)  
Proceeds from Lines of Credit 113,174 0 0  
Repayments of Lines of Credit (48,044) 0 0  
Payments of Debt Issuance Costs (2,282) 0 0  
Net cash used in financing activities (30,112) (929) (90,382)  
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents 1,006 (1,480) 316  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (53,137) (119,897) (1,027)  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents   102,811 222,708 $ 223,735
Cash and cash equivalents 49,674 102,811 222,708  
Interest Paid, Excluding Capitalized Interest, Operating Activity $ 4,310 $ 1,286 $ 1,976  
v3.25.4
Condensed Consolidated Statements Stockholders' Equity (Deficit) - USD ($)
shares in Thousands, $ in Thousands
Total
Retained Earnings [Member]
Treasury Stock, Common
Common Stock Including Additional Paid in Capital [Member]
Stockholders' Equity Attributable to Parent $ 611,559 $ (196,113) $ (153,231) $ 960,903
Shares, Outstanding       154,888
Stock Repurchased During Period, Value (40,000)      
Treasury Stock, Value, Acquired, Cost Method (40,000)      
Treasury Stock, Value, Acquired, Par Value Method $ 0      
Stock Repurchased During Period, Shares (9,931)      
Net loss $ (53,183) (53,183)    
Common stock issued under employee benefit plans, net of shares withheld for tax 3,999     $ 3,999
Common stock issued under employee benefit plans, net of shares withheld for tax (shares)       4,940
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (8,008)     $ 8,008
APIC, Share-Based Payment Arrangement, Recognition and Exercise       41,479
Stockholders' Equity Attributable to Parent 555,846 (249,296) (193,231) $ 998,373
Shares, Outstanding       149,897
Net loss (432,311) (432,311)    
Common stock issued under employee benefit plans, net of shares withheld for tax 2,101     $ 2,101
Common stock issued under employee benefit plans, net of shares withheld for tax (shares)       5,558
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (3,079)     $ 3,079
APIC, Share-Based Payment Arrangement, Recognition and Exercise       29,132
Stockholders' Equity Attributable to Parent 151,689 (681,607) (193,231) $ 1,026,527
Shares, Outstanding       155,455
Net loss (93,487) (93,487)    
Common stock issued under employee benefit plans, net of shares withheld for tax 805     $ 805
Common stock issued under employee benefit plans, net of shares withheld for tax (shares)       5,730
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation (1,916)     $ 1,916
APIC, Share-Based Payment Arrangement, Recognition and Exercise       17,459
Shares Issued, Value, Private Placement 2,000     $ 2,000
Shares Issued, Shares, Private Placement       1,130
Stockholders' Equity Attributable to Parent $ 76,550 $ (775,094) $ (193,231) $ 1,044,875
Shares, Outstanding       162,315
v3.25.4
Summary of business and significant accounting policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of business and significant accounting policies
GoPro, Inc. and its subsidiaries (GoPro or the Company) make it easy for the world to capture and share itself in immersive and exciting ways, helping people get the most out of their photos and videos. The Company is committed to developing solutions that create an easy, seamless experience for consumers to capture, create, manage and share engaging personal content. To date, the Company’s cameras, mountable and wearable accessories, subscription and service, and implied post contract support have generated substantially all of its revenue. The Company sells its products globally on its website, and through retailers and wholesale distributors. The Company’s global corporate headquarters are located in San Mateo, California.
Basis of presentation. The accompanying 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 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.
Principles of consolidation. These 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. The preparation of 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 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), 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.
Liquidity. The accompanying audited consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. In the year ended December 31, 2025, the Company’s performance continued to be impacted by consumer-related macroeconomic issues resulting in a softer global consumer market, an increasingly global competitive landscape, tariffs and the sales volume of the Company’s 360-camera MAX2, which had a delayed introduction in September 2025. During the year ended December 31, 2025 and 2024, total revenue was $651.5 million and $801.5 million, respectively, representing an 18.7% decline year-over-year. As a result, the Company incurred operating losses of $83.3 million and operating cash outflows of $20.7 million during the year ended December 31, 2025. As of December 31, 2025 and 2024, the Company had cash and cash equivalents of $49.7 million and $102.8 million, respectively, and an accumulated deficit of $775.1 million and $681.6 million, respectively. For the period ended December 31, 2025, the Company was not in compliance with the asset coverage ratio or minimum EBITDA covenant within the 2025 Credit Agreement, and the Company subsequently cured the non-compliance by entering into an amendment on February 27, 2026 that amended the covenant requirements, as discussed in Note 5 Financing arrangements.
The Company has considered and assessed its ability to continue as a going concern for at least 12 months from the issuance of these audited consolidated financial statements. The Company’s assessment included the preparation of a cash flow forecast using a 2026 operational plan which incorporates the $25.0 million of proceeds received in February 2026 pursuant to the Securities Purchase Agreement, as discussed in Note 14 Subsequent
events, and amendments to the 2021 Credit Agreement, that extended the maturity date, and 2025 Credit Agreement, which was amended to remove or reduce the current and future minimum liquidity, asset coverage ratio and EBITDA covenants, as discussed in Note 5 Financing arrangements. The 2026 operational plan is structured to: (i) realize board approved cost savings to further reduce operating expenses in the second half of 2026; (ii) increase revenue generated from new product launches beginning in the second quarter of 2026; and (iii) ensure effective production planning and inventory management. The Company considered additional actions within its control that it would implement, if necessary, to maintain liquidity and operations in the ordinary course of business. Additional actions considered include further reducing discretionary spending in all areas of the business, further headcount restructuring actions, and at the Company’s discretion, the issuance of an additional $5.0 million and $20.0 million in aggregate principal of Convertible Debentures as discussed in Note 14 Subsequent events.
The Company estimates such actions will be sufficient to allow it to maintain liquidity and operations in the ordinary course of business for at least 12 months from the issuance of these consolidated financial statements. While the Company estimates such actions will be sufficient to allow it to maintain liquidity and operations in the ordinary course for at least 12 months from the issuance of these consolidated financial statements, there can be no assurance the Company will generate sufficient future cash from operations. Factors that can impact the Company’s future cash generation include, but are not limited to, underperformance of the Company’s product launches, inability to successfully manage production planning, inventory and working capital, further inflation impacting consumer demand and cost of components, rising interest rates, tariffs, increased component costs, component shortages or limited availability, ongoing recessionary conditions and continued competition. If the Company is not successful in maintaining demand for its products, or if macroeconomic conditions further constrain consumer demand, the Company may continue to experience adverse impacts to revenue and profitability. In addition, the Company may need additional financing to execute on its current or future business strategy, and additional financing may not be available or on terms favorable to the Company.
Comprehensive income (loss). For all periods presented, comprehensive income (loss) approximated net income (loss). Therefore, the consolidated statements of comprehensive income (loss) have been omitted.
Prior period reclassifications. Reclassifications of certain prior period amounts in the consolidated financial statements have been made to conform to the current period presentation.
Cash equivalents. Cash equivalents consist of investments in money market funds with maturities of three months or less from the date of purchase.
Accounts receivable. Accounts receivable are stated at invoice value less estimated allowances for doubtful accounts. Allowances are recorded based on the Company’s assessment of various factors, such as: historical experience, credit quality of its customers, age of the accounts receivable balances, geographic related risks, economic conditions and other factors that may affect a customer’s ability to pay. The allowance for doubtful accounts as of December 31, 2025 and 2024 was immaterial.
Inventory. Inventory consists of finished goods and component parts, which are purchased directly from contract manufacturers or from suppliers. Inventory is stated at the lower of cost or net realizable value on a first-in, first-out basis. The Company writes down its inventory for estimated obsolescence or excess inventory equal to the difference between the cost of inventory and estimated market value plus the estimated cost to sell. The Company’s assessment of market value is based upon assumptions around market conditions and estimated future demand for its hardware products within a specified time horizon, generally 12 months, hardware product life cycle status, hardware product development plans and current sales levels. Adjustments to reduce inventory to net realizable value are recognized in cost of revenue.
Point of purchase (POP) displays. The Company provides retailers with POP displays, generally free of charge, in order to facilitate the marketing of the Company’s hardware and software products within retail stores. The POP displays contain a display that broadcasts video images taken by GoPro cameras along with product placement available for cameras and accessories. POP display costs are capitalized as long-term assets and charged to sales and marketing expense over the 36 month expected period of benefit. Cash outflows and amortization related to POP displays are classified as operating activities in the consolidated statements of cash flows.
Property and equipment, net. Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful life of the assets, ranging from 1 to 9 years. Leasehold improvements are amortized over the shorter of the lease term or their expected useful life. Property and equipment pending installation, configuration or qualification are classified as construction in progress. Costs of maintenance and repairs that do not improve or extend the lives of the respective assets are expensed as incurred.
Fair value measurements. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the reporting date. The Company estimates and categorizes the fair value of its financial assets by applying the following hierarchy:
Level 1
Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to directly access.
Level 2
Valuations based on quoted prices for similar assets or liabilities; valuations for interest-bearing securities based on non-daily quoted prices in active markets; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable data for substantially the full term of the assets or liabilities.
Level 3
Valuations based on inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.
Warrants. The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and the applicable authoritative literature under ASC 480-10 Distinguishing Liabilities from Equity and ASC 815-40 and Derivatives and Hedging—Contracts in Entity’s Own Equity. The assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent reporting period. The Company concluded that the issued warrants do not meet the criteria to be equity-classified and are therefore accounted for as a liability. The warrant liability is presented at fair value on the consolidated balance sheets within other long-term liabilities and is marked-to-market at each reporting date, with any changes in fair value recorded on the consolidated statements of operations as other income and expense. The Company utilizes a Black-Scholes option pricing model, which includes Level 3 inputs, to remeasure liability-classified warrants each reporting period.
Leases. The Company leases its office space and facilities under cancelable and non-cancelable operating leases. Operating leases are presented as operating lease right-of-use (ROU) assets, short-term operating lease liabilities and long-term operating lease liabilities on the Company’s consolidated balance sheets. ROU assets represent the Company’s right to control the use of an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease.
Operating lease ROU assets and liabilities are recognized at the lease commencement date based on the present value of future lease payments. The Company determines its incremental borrowing rate based on the approximate rate at which the Company would borrow, on a secured basis, to calculate the present value of future lease payments. Lease expenses are recognized on a straight-line basis over the lease term. Certain leases include an option to renew with terms that can extend the lease term from one to nine years. The exercise of a lease renewal option is at the Company’s sole discretion and is included in the lease term when the Company is reasonably certain it will exercise the option.
Goodwill and acquired intangible assets. Goodwill represents the excess of the purchase price over the fair value of the net assets acquired in a business combination. Acquired intangible assets other than goodwill are amortized over their useful lives unless the lives are determined to be indefinite. For intangible assets acquired in a business combination, the determination of the estimated fair values of the assets received involves significant judgments and estimates. These judgments can include, but are not limited to, the cash flows that an asset is expected to generate in the future, technology obsolescence, and the appropriated weighted-average cost of capital. Valuation approaches consistent with the market approach, income approach and/or cost approach are used to measure fair value.
Impairment of goodwill and long-lived assets. 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.
In the first quarter of 2025, the Company’s market capitalization declined 38% from December 31, 2024, in part due to tariffs and geopolitical events, resulting in the Company’s market capitalization no longer exceeding the carrying value of its single reporting unit as of March 31, 2025. As a result, the Company performed a quantitative goodwill impairment analysis and estimated the fair value of its single reporting unit utilizing the income approach using a discounted future cash flow model and a market approach. The analysis required estimates which consist of significant judgment related to the estimation of future cash flow and discount rates. The analysis was dependent on internal forecasts and profitability measures as well as certain unobservable Level 3 inputs such as the estimation of long-term revenue growth rates, terminal growth rates, and determination of the discount rate. As a result of the quantitative impairment test, the Company concluded that the carrying value of its single reporting unit exceeded its fair value, resulting in the recognition of an $18.6 million goodwill impairment charge in the first quarter of 2025. There was no goodwill impairment charge recorded in 2024 or 2023.
The Company completed its annual impairment test of goodwill as of December 31, 2025 using a qualitative assessment and concluded that it was not more likely than not that the fair value of the Company’s single reporting unit was less than the carrying value. Additionally, as of December 31, 2025, the market capitalization exceeded the carrying value of the Company’s single reporting unit by 67%, which was not adjusted for an acquisition control premium, which would further increase the percentage the fair value exceeded the carrying value. Additionally, the Company has not identified other impairment triggering events. Using the market capitalization approach, the fair value of its single reporting unit is estimated based on the trading price of its 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.
The estimated fair value of the Company’s single reporting unit is affected by the volatility in the Company’s stock price. For example, a 5% decrease in the Company’s December 31, 2025 stock price would result in its market capitalization exceeding the carrying value of its single reporting unit by 65%, which is not adjusted for an acquisition control premium. If the Company's market capitalization declines 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.
Long-lived assets, such as property and equipment, intangible assets subject to amortization, and right-of-use assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount to the estimated future undiscounted cash flows expected to be generated by the asset group. If it is determined that an asset group is not recoverable, an impairment charge is recognized for the amount by which the carrying amount of the asset group exceeds its fair value. The Company recorded a $3.3 million right-of-use asset impairment in 2024 related to its headquarters campus as described further in Note 13 Restructuring charges. The Company used the following significant assumption to determine the impairment charge: discount rate based on the weighted-average cost of capital. The Company did not record any impairment charges in 2025 or 2023.
Warranty. The Company records a liability for estimated product warranty costs at the time hardware revenue is recognized. The Company’s standard warranty obligation to its end-users generally provides a 12-month warranty coverage on all of its products except in the European Union where the Company provides a 24-month warranty.
The Company also offers extended warranty programs for a fee. The Company’s estimate of costs to service its warranty obligations is based on its historical experience of repair and replacement of the associated products and expectations of future conditions. The warranty obligation is affected by product failure rates and the related use of materials, labor costs and freight incurred in correcting any product failure.
Convertible Senior Notes. In November 2020, the Company issued $143.8 million aggregate principal amount of 1.25% Convertible Senior Notes (2025 Notes). In November 2023, the Company repurchased $50.0 million in aggregate principal amount of the 2025 Notes, reducing the principal amount owed to $93.8 million. This partial extinguishment of the 2025 Notes resulted in a gain of $3.1 million recognized in the fourth quarter of 2023. The Company repaid the remaining $93.8 million in aggregate principal at maturity on November 15, 2025 with restricted cash on hand. See Note 5 Financing arrangements for additional details.
The Company accounts for its 2025 Notes in accordance with ASC 470-20, Debt with Conversion and Other Options. The Company’s 2025 Notes have a net settlement feature and may be settled wholly or partially in cash upon conversion. Therefore, the Company calculates the potential dilutive effect of its 2025 Notes under the if-converted method. The Company classifies its 2025 Notes as debt. Debt issuance costs are also classified as debt and amortized as interest expense.
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 hardware 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 hardware 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’s Premium+ subscription 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 100 GB of non-GoPro content, 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 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 hardware 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 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 revenue 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 December 31, 2025 and 2024 includes amounts related to the Company’s subscriptions and PCS. The Company’s short-term and long-term deferred revenue balances totaled $54.2 million and $58.3 million as of December 31, 2025 and 2024, respectively. During the year ended December 31, 2025 and 2024, the Company recognized $55.4 million and $55.8 million of revenue that was included in the deferred revenue balance as of December 31, 2024 and 2023, respectively.
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.
Shipping costs. Amounts billed to customers for shipping and handling are classified as revenue, and the Company’s related shipping and handling costs incurred are classified as cost of revenue.
Sales taxes. Sales taxes collected from customers and remitted to respective governmental authorities are recorded as liabilities and are not included in revenue.
Advertising costs. Advertising costs consist of costs associated with print, television, and e-commerce media advertisements and are expensed as incurred. The Company incurs promotional expenses resulting from payments under event, resort, and athlete sponsorship contracts. These sponsorship arrangements are considered to be executory contracts and, as such, the costs are expensed as performance under the contract is received. The costs associated with the preparation of sponsorship activities, including the supply of GoPro hardware products, media team support, and activation fees are expensed as incurred. Prepayments made under sponsorship agreements are included in prepaid expenses or other long-term assets depending on the period to which the prepayment applies. Advertising costs were $11.6 million, $33.3 million, and $44.1 million in 2025, 2024, and 2023, respectively.
Stock-based compensation. Stock-based awards granted to qualified employees, non-employee directors and consultants are measured at fair value and recognized as an expense. The Company primarily issues restricted stock units and accounts for forfeitures as they occur. For service-based awards, stock-based compensation is recognized on a straight-line basis over the requisite service period. For performance and market-based awards which also require a service period, the Company uses graded vesting over the longer of the derived service period or when the performance or market condition is satisfied.
Foreign currency. The U.S. dollar is the functional currency of the Company’s foreign subsidiaries. The Company remeasures monetary assets or liabilities denominated in currencies other than the U.S. dollar using exchange rates prevailing on the balance sheet date, and non-monetary assets and liabilities at historical rates. Foreign currency remeasurement and transaction gains and losses are included in other income (expense), net and have not been material for any periods presented.
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. The Company 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. As of December 31, 2025, the Company intends to continue to maintain a full valuation allowance on its United States federal and state deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of these allowances.
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. The Company operates as one operating segment as it only reports financial information on an aggregated and consolidated basis to its Chief Executive Officer, who is the Company’s chief operating decision maker (CODM). The CODM assesses performance of the Company’s one operating segment and decides how to allocate resources based on net income (loss), which is also reported on the consolidated statements of operations as net income (loss). The CODM regularly compares net income (loss) against forecast and prior periods when deciding which areas of the business to allocate resources. The significant expense categories within net income (loss) that the CODM regularly reviews are cost of revenue and operating expenses, which consists of three main subcategories: research and development, sales and marketing, and general and administrative. All significant expense categories and subcategories are reported on the consolidated statements of operations. Other items included in net income (loss) but are excluded from the significant expense categories include interest expense, other income (expense), net, and income tax expense (benefit), all of which are also reported on the consolidated statements of operations. Interest income, which is included in other income (expense), net was $3.1 million, $4.7 million, and $9.9 million in 2025, 2024, and 2023, respectively.
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.
Recent accounting standards.
StandardDescription
Effect on the consolidated financial statements or other significant matters
Standards that were adopted
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.
The Company has adopted this standard retrospectively beginning with its 2025 Form 10-K financial statements and related disclosures.
Standards not yet adopted
Income Statement Reporting - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
ASU No. 2024-03
This guidance is designed to improve financial reporting by requiring public business entities to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods, including amounts and qualitative descriptions of inventory purchases, employee compensation, depreciation and intangible asset amortization, among other requirements. This standard is effective for fiscal years beginning after December 15, 2026, and for interim reporting periods beginning after December 15, 2027, with early adoption is permitted. The standard should be applied prospectively; however, retrospective application is permitted.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 consolidated financial statements.
Accounting Standards Update and Change in Accounting Principle
Recent accounting standards.
StandardDescription
Effect on the consolidated financial statements or other significant matters
Standards that were adopted
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.
The Company has adopted this standard retrospectively beginning with its 2025 Form 10-K financial statements and related disclosures.
Standards not yet adopted
Income Statement Reporting - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
ASU No. 2024-03
This guidance is designed to improve financial reporting by requiring public business entities to disclose additional information about specific expense categories in the notes to financial statements at interim and annual reporting periods, including amounts and qualitative descriptions of inventory purchases, employee compensation, depreciation and intangible asset amortization, among other requirements. This standard is effective for fiscal years beginning after December 15, 2026, and for interim reporting periods beginning after December 15, 2027, with early adoption is permitted. The standard should be applied prospectively; however, retrospective application is permitted.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 consolidated financial statements.
Business acquisitions , 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. The operating results of the acquired entity have been included in the Company’s 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 consolidated financial statements.
v3.25.4
Business Acquisitions
 12 Months Ended
Dec. 31, 2025
Business Combination [Abstract]  
Business acquisitions , 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. The operating results of the acquired entity have been included in the Company’s 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 consolidated financial statements.
v3.25.4
Fair value measurements
 12 Months Ended
Dec. 31, 2025
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:
December 31, 2025December 31, 2024
(in thousands)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash equivalents (1):
Money market funds$40,120 $— $— $40,120 $42,436 $— $— $42,436 
Total cash equivalents$40,120 $— $— $40,120 $42,436 $— $— $42,436 
Other long-term liabilities
Warrant liability$— $— $6,255 $6,255 $— $— $— $— 
Total other long-term liabilities$— $— $6,255 $6,255 $— $— $— $— 
(1)    Included in cash and cash equivalents in the accompanying consolidated balance sheets. Cash balances were $9.6 million and $60.4 million as of December 31, 2025 and 2024, respectively.
Cash equivalents are classified as Level 1 because the Company uses quoted market prices to determine their fair value. As of December 31, 2025 and 2024, the amortized cost of the Company’s cash equivalents approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate. The liability-classified warrants are classified as Level 3 and are valued based on a Black-Scholes option pricing model each reporting period.
The fair value of the warrants was estimated with the following assumptions:
December 31, 2025
Volatility82 %
Risk-free interest rate3.5 %
Dividend yield— %
Expected term (years)2.06
The expected term is assumed to be equivalent to the remaining contractual term. The Company estimates the expected volatility of its common stock based on the Company’s historical volatility. The risk-free interest rate is based on the U.S. Treasury zero-coupon yield curve on the valuation date for a maturity similar to the remaining expected term. The Company does not plan to pay a dividend during the warrant term, and has not historically, thus the dividend rate will remain at zero.
Changes in the fair value of the Level 3 warranty liability during the year ended December 31, 2025 were as follows:
(in thousands)
Warrant Liability
Balance as of December 31, 2024$— 
Issuance of warrants3,218 
Change in fair value3,037 
Balance as of December 31, 2025$6,255 
In November 2020, the Company issued $143.8 million principal amount of 1.25% Convertible Senior Notes (2025 Notes), as discussed in Note 5 Financing arrangements. In November 2023, the Company repurchased $50.0 million in aggregate principal amount of the 2025 Notes, reducing the amount owed to $93.8 million. The Company repaid the remaining $93.8 million in aggregate principal at maturity on November 15, 2025 with restricted cash on hand. The calculated fair value of the 2025 Notes was zero and $82.5 million as of December 31, 2025 and 2024, respectively. The estimated fair value of the 2025 Notes was 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.
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. In the first quarter of 2025, the fair value of the Company’s single reporting unit was determined based on unobservable (Level 3) inputs, as discussed in Note 1 Summary of business and significant accounting policies. In 2024, the fair value of the Company’s operating lease right-of-use asset related to its headquarters campus was determined based on unobservable (Level 3) inputs, as discussed in Note 13 Restructuring charges.
v3.25.4
Condensed consolidated financial statement details
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Consolidated financial statement details
The following section provides details of selected balance sheet items.
Inventory
(in thousands)
December 31, 2025December 31, 2024
Components
$2,554 $19,407 
Finished goods
75,877 101,309 
Total inventory$78,431 $120,716 
Property and equipment, net
(in thousands)
Useful life
(in years)		December 31, 2025December 31, 2024
Leasehold improvements1–9$24,014 $23,996 
Production, engineering, and other equipment437,265 38,018 
Tooling1–27,208 6,810 
Computers and software28,064 12,574 
Furniture and office equipment33,524 3,763 
Tradeshow equipment and other2–51,424 1,424 
Construction in progress132 156 
Gross property and equipment81,631 86,741 
Less: Accumulated depreciation and amortization(75,728)(78,045)
Property and equipment, net$5,903 $8,696 
Depreciation expense was $5.2 million, $4.9 million, and $6.2 million in 2025, 2024, and 2023, respectively.
Other long-term assets
(in thousands)
December 31, 2025December 31, 2024
Point of purchase (POP) displays$9,986 $14,715 
Deposits and other9,977 7,550 
Intangible assets, net4,078 5,953 
Long-term deferred tax assets581 765 
Other long-term assets$24,622 $28,983 
Amortization expense for POP displays was $7.0 million, $5.1 million, and $2.0 million in 2025, 2024, and 2023, respectively. Expenditures for POP displays were $2.3 million, $13.6 million, and $6.5 million in 2025, 2024, and 2023, respectively.
Intangible assets
Useful life
(in months)		December 31, 2025
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$58,566 $(54,503)$4,063 
Domain name15 —15 
Total intangible assets$58,581$(54,503)$4,078

Useful life
(in months)		December 31, 2024
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$58,566 $(52,628)$5,938 
Domain name15 —15 
Total intangible assets$58,581$(52,628)$5,953
Amortization expense was $1.9 million, $1.6 million, and zero for 2025, 2024, and 2023, respectively.
As of December 31, 2025, expected amortization expense of intangible assets with definite lives for future periods was as follows:
(in thousands)
Total
Year ending December 31,
2026$1,875 
20271,875 
2028313 
2029— 
2030— 
$4,063 
Goodwill
Changes to the carrying amount of goodwill during the year ended December 31, 2025 were as follows:
(in thousands)Carrying Amount
Carrying amount as of December 31, 2024$152,351 
Goodwill impairment(18,600)
Carrying amount as of December 31, 2025$133,751 
Accrued expenses and other current liabilities
(in thousands)
December 31, 2025December 31, 2024
Accrued sales incentives$38,259 $53,997 
Accrued liabilities30,274 26,060 
Employee related liabilities8,255 7,401 
Warranty liabilities4,315 5,930 
Return liability3,293 4,913 
Inventory received3,423 2,010 
Customer deposits1,216 2,694 
Purchase order commitments1,343 1,504 
Other5,478 6,260 
Accrued expenses and other current liabilities$95,856 $110,769 
Product warranty
Year ended December 31,
(in thousands)
202520242023
Beginning balance$6,207 $8,759 $8,319 
Charged to cost of revenue9,791 10,822 19,724 
Settlement of warranty claims(11,405)(13,374)(19,284)
Warranty liability$4,593 $6,207 $8,759 
As of December 31, 2025 and 2024, $4.3 million and $5.9 million, respectively, of the warranty liability was recorded as a component of accrued expenses and other current liabilities, and $0.3 million and $0.3 million, respectively, was recorded as a component of other long-term liabilities.
Intangible Assets Disclosure
Intangible assets
Useful life
(in months)		December 31, 2025
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$58,566 $(54,503)$4,063 
Domain name15 —15 
Total intangible assets$58,581$(54,503)$4,078

Useful life
(in months)		December 31, 2024
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$58,566 $(52,628)$5,938 
Domain name15 —15 
Total intangible assets$58,581$(52,628)$5,953
Amortization expense was $1.9 million, $1.6 million, and zero for 2025, 2024, and 2023, respectively.
As of December 31, 2025, expected amortization expense of intangible assets with definite lives for future periods was as follows:
(in thousands)
Total
Year ending December 31,
2026$1,875 
20271,875 
2028313 
2029— 
2030— 
$4,063 
v3.25.4
Financing Arrangements
 12 Months Ended
Dec. 31, 2025
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 $35.0 million from the February 2026 amendment to the Borrowing Base Conversion Date, which is considered when the Company completes an appraisal and other collateral diligence measures in order to implement a borrowing base to tie usage of the 2021 Credit Facility to the Company’s collateral value, and up to $50.0 million thereafter. In March 2023, August 2025 and February 2026, the Company amended the 2021 Credit Agreement (collectively, the 2021 Credit Agreement). The February 2026 amendment extended the maturity of the 2021 Credit Agreement to June 2027, changed the interest rate borrowed funds accrued interest and changed the liquidity minimums, all of which are discussed below. Upon termination of the 2021 Credit Agreement in June 2027, any outstanding borrowings will become due and payable.
Prior to the Borrowing Base Conversion Date, the amount that may be borrowed under the 2021 Credit Agreement is $35.0 million, unless the Company’s Asset Coverage Ratio is less than 1.50, which would subject the amount that may be borrowed to a customary borrowing base calculation. 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. After the Borrowing Base Conversion Date, the amount that may be borrowed under the 2021 Credit Agreement is based on a customary borrowing base calculation.
Borrowed funds accrue interest, at the Company’s option, at a rate equal to either (i) a per annum rate equal to the base rate plus a margin of 2.50% or (ii) a per annum rate equal to the Secured Overnight Financing Rate plus a 10 basis point premium and a margin of 3.50%. 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 (including intellectual property registrations and applications, which is subject to an intercreditor agreement).
The 2021 Credit Agreement contains customary representations, warranties, affirmative and negative covenants, and events of default. The negative covenants include restrictions on the occurrence 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 (i) $25.0 million during the period from the date the Company entered into the 2021 Credit Agreement amendment in February 2026 through June 30, 2026, (ii) $30.0 million during the period from July 1, 2026 through July 31, 2026, (iii) $35.0 million during the period from August 1, 2026 through August 31, 2026, and (iv) $40.0 million from September 1, 2026 through the maturity date (of which at least $10.0 million shall be attributable to Qualified Cash during all periods), and maintain a minimum unused availability under the credit facility of at least $10.0 million after the Borrowing Base Conversion Date. 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.
For the period ended December 31, 2025, the Company was in compliance with the liquidity and asset coverage ratio financial covenants contained in the 2021 Credit Agreement; however, the 2021 Credit Agreement also required the Company to be in compliance with the financial covenants within the 2025 Credit Agreement. The Company was not in compliance with the 2025 Credit Agreement asset coverage ratio of 1.25x or minimum EBITDA covenant of not less than $10.0 million for the fiscal quarter ending December 31, 2025 within the 2025 Credit Agreement for the period ended December 31, 2025 and subsequently cured the non-compliance by entering into an amendment on February 27, 2026 that amended these covenant requirements. There are outstanding letters of credit under the 2021 Credit Agreement which total $9.2 million for certain duty-related requirements which was not collateralized by any cash on hand. The Company had zero available to draw from its 2021 Credit Agreement as of December 31, 2025.
2025 Credit Agreement
On August 4, 2025, the Company entered into a Credit Agreement with Farallon Capital Management, L.L.C., as administrative agent and collateral agent (the Agent), and Mateo Financing, LLC (the Lender). On November 5, 2025 and February 27, 2026, the Company amended the Credit Agreement (collectively, the 2025 Credit Agreement). The 2025 Credit Agreement provides for a second lien credit facility up to $50.0 million (the 2025 Term Loan). The 2025 Credit Agreement will mature, and any outstanding borrowings become due and payable on January 22, 2028. The February 2026 amendment revised the (i) minimum liquidity for the remaining term of the 2025 Credit Agreement, (ii) removed the EBITDA minimums for the fiscal quarter ending December 31, 2025 and for the period of four consecutive fiscal quarters ending March 31, 2026, (iii) revised the EBITDA minimum for the remainder of the 2025 Credit Agreement, and (iv) revised the minimum asset coverage ratio for periods prior to March 31, 2026, all of which are disclosed below.
Borrowed funds accrue interest, at the Company’s option, at a rate equal to either (i) the applicable one or three-month secured overnight financing rate (SOFR), plus a 10 basis point premium for one-month SOFR or 15 basis point premium for three-month SOFR, plus 7.5%, or (ii) the Base Rate plus 6.50%. The base rate is defined as the greatest of (i) the Wall Street Journal prime rate, (ii) the federal funds rate plus 0.50% or (iii) a per annum rate equal to the SOFR plus 1.00%. During an event of default, the applicable interest rates are increased by 2.0% per annum. For Base Rate loans, the Company will pay interest on a quarterly basis and at the maturity date. For SOFR rate loans, the Company will pay interest at least quarterly, or more frequently, as defined in the 2025 Credit Agreement, and at the maturity date. The Company shall make quarterly principal payments on the 2025 Term Loan, with the remaining principal due on the maturity date. Under the 2025 Credit Agreement, the Company may be obligated to pay additional amounts which would allow for a minimum return, as defined by the 2025 Credit Agreement. The 2025 Term Loan is subject to mandatory prepayment in certain cases involving asset dispositions, debt issuances, certain receipts of cash proceeds from insurance and other extraordinary receipts, and change in control. The Company is required to apply 25% of excess cash flow to repay the 2025 Term Loan. Prepayments of the 2025 Term Loan, whether optional, mandatory, before, on or after January 22, 2028, or as a result of any acceleration of the 2025 Term Loan as a result of an event of default, require a prepayment premium in an amount set forth in the 2025 Credit Agreement. Amounts owed under the 2025 Credit Agreement are guaranteed by certain of the Company’s domestic subsidiaries, and are secured by a second lien security interest in substantially all of the assets of the Company and certain of the Company’s subsidiaries.
The 2025 Credit Agreement contains customary representations, warranties, and affirmative and negative covenants, including financial 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. The financial covenants require (a) the Company to maintain liquidity (defined as unrestricted cash, cash equivalents and availability under the 2021 Credit Agreement) of at least (i) $25.0 million during the fiscal quarters ending March 31, 2026 and June 30, 2026, (ii) $30.0 million during the fiscal month ending July 31, 2026, (iii) $35.0 million during the fiscal month ending August 31, 2026 and (iv) $40.0 million during any fiscal month thereafter; (b) the Company not to have EBITDA (as defined in the 2025 Credit Agreement) of (i) less than $5.0 million, subject to adjustment, for the fiscal quarter ending June 30, 2026, (ii) less than zero, subject to adjustment, for the fiscal quarter ending September 30, 2026, (iii) less than zero for the fiscal quarter ending December 31, 2026, (iv) less than $20.0 million for the period of four consecutive fiscal quarters ending March 31, 2027, (v) less than $30.0 million for the period of four consecutive fiscal quarters ending June 30, 2027, (vi) less than $35.0 million for the period of four consecutive fiscal quarters ending September 30, 2027, and (vii) less than $40.0 million for the period of four consecutive fiscal quarters ending December 31, 2027 and thereafter; and (c) the Company not to permit an asset coverage ratio (defined as the ratio of (x) the sum of unrestricted cash, cash equivalents, and certain accounts and inventory, divided by (y) the sum of accounts payable and total debt (as defined in the 2025 Credit Agreement) of less than (i) 1.05:1.00 on or prior to March 31, 2026 or (ii) 1.15:1.00 thereafter. The EBITDA thresholds for fiscal quarters ending June 30, 2026 and September 30, 2026 are subject to potential adjustments in the event of a reduction in tariff amounts in Malaysia or Thailand (or both) to a level that is 10% or lower, as described in further detail in the 2025 Credit Agreement. To the extent there are adjustments to the tariff rates of only one of the countries, the corresponding adjustments will be apportioned accordingly.
The 2025 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, change of control and certain material ERISA events. An event of default would also occur in the event the Company fails to maintain the listing of its common stock on the Nasdaq stock market for a period of 30 consecutive days. The occurrence of an event of default could result in the acceleration of the obligations under the 2025 Credit Agreement and 2021 Credit Agreement.
As of December 31, 2025, the outstanding principal under the 2025 Term Loan was $49.8 million, the unamortized debt issuance cost was $1.9 million, the unamortized debt discount was $3.6 million, and the net carrying amount of the liability was $44.3 million, which was recorded as long-term debt within the consolidated balance sheets. For the year ended December 31, 2025, the Company recorded $2.4 million of interest expense, $0.4 million for amortization of debt issuance costs, and $0.7 million for amortization of the debt discount. For the period ended
December 31, 2025, the Company was not in compliance with the asset coverage ratio of 1.25x or minimum EBITDA covenant of not less than $10.0 million for the fiscal quarter ending December 31, 2025 within the 2025 Credit Agreement for the period ended December 31, 2025, and the Company subsequently cured the non-compliance by entering into an amendment on February 27, 2026 that amended these covenant requirements.
On August 4, 2025, in connection with the 2025 Credit Agreement, and as subsequently amended on November 5, 2025, the Company issued an aggregate of 11,076,968 warrants to purchase shares of its common stock, which can be exercised at a price of $0.75. The warrants were initially valued at $3.2 million using a Black-Scholes option pricing model and are marked-to-market with any changes in fair value recorded through earnings. The warrants may be exercised at any time prior to 5:00 p.m. Eastern time, on August 1, 2035. Exercise of the warrants will dilute the ownership interests of existing stockholders. Any warrants not exercised prior to such time will expire.
2025 Convertible Notes
In November 2020, the Company issued $143.8 million aggregate principal amount of 1.25% Convertible Senior Notes due 2025 (the 2025 Notes). 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 a single, 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 consolidated statements of operations. The Company repaid the remaining $93.8 million in aggregate principal at maturity on November 15, 2025 with restricted cash on hand.
As of December 31, 2025 and 2024, the outstanding principal on the 2025 Notes was zero and $93.8 million, respectively, the unamortized debt issuance cost was zero and $0.6 million, respectively, and the net carrying amount of the liability was zero and $93.2 million, respectively, which was recorded as short-term debt within the consolidated balance sheets. For the year ended December 31, 2025, 2024, and 2023, the Company recorded interest expense of $1.0 million, $1.2 million, and $1.7 million, respectively, for contractual coupon interest, and $0.5 million, $0.6 million, and $0.9 million, respectively, for amortization of debt issuance costs. As of December 31, 2025 and 2024, the effective interest rate, which is calculated as the contractual interest rate adjusted for the debt issuance costs, was zero and 1.9%, respectively.
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 had an initial strike price of $9.3285 per share, which corresponded to the initial conversion price of the 2025 Notes. The Capped Calls covered the number of Class A common stock initially underlying the 2025 Notes. The Capped Calls were 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 was required to make in excess of the principal amount of converted 2025 Notes, with such reduction and/or offset subject to a cap initially equal to $12.0925. The Capped Calls expired on November 15, 2025.
v3.25.4
Employee benefit plans
 12 Months Ended
Dec. 31, 2025
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 2024 Plan serves as a successor to the 2014 Plan and the 2014 Plan served as successor to the 2010 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 (SBAs) 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. 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. SBAs granted under the 2024 Plan are generally granted and vested on the same day based on continued service and employees achieving certain performance goals 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.
Employee retirement plan. The Company has a defined contribution retirement plan covering the United States and other international full-time employees that provides for voluntary employee contributions from 1% to 100% of annual compensation, subject to a maximum limit allowed by Internal Revenue Service guidelines. In certain locations, the Company makes contributions to employee defined contribution plans, these contributions were $1.0 million, $1.2 million, and $0.9 million in 2025, 2024, and 2023, respectively.
Stock options
A summary of the Company’s stock option activity for the year ended December 31, 2025 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, 20242,327 $7.43 4.59$— 
Granted— — 
Exercised— — 
Forfeited/Cancelled(883)8.03 
Outstanding at December 31, 20251,444 $7.06 3.24$— 
Vested and expected to vest at December 31, 20251,444 $7.06 3.24$— 
Exercisable at December 31, 20251,436 $7.05 3.22$— 
The weighted-average grant date fair value of all options granted was zero, zero, and $2.14 per share in 2025, 2024, and 2023, respectively. The total fair value of all options vested was $0.5 million, $0.8 million, and $1.4 million in 2025, 2024, and 2023, respectively. The aggregate intrinsic value of the stock options outstanding as of December 31, 2025 represents the value of the Company’s closing stock price on December 31, 2025 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 year ended December 31, 2025 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 202411,243 $3.38 
Granted6,963 0.83 
Vested(6,171)3.32 
Forfeited(2,120)2.52 
Non-vested shares at December 31, 20259,915 $1.81 
The weighted-average grant date fair value of all RSUs granted was $0.83, $1.76, and $5.13 per share in 2025, 2024, and 2023, respectively. The total fair value of all RSUs vested was $20.5 million, $30.6 million, and $34.5 million in 2025, 2024, and 2023, respectively.
Performance stock units
A summary of the Company’s PSU activity for the year ended December 31, 2025 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 2024286 

$6.06 
Granted2,208 0.63 
Vested(221)6.14 
Forfeited(2,226)0.67 
Non-vested shares at December 31, 202547 $5.79 
The weighted-average grant date fair value of all PSUs granted was $0.63, $1.70, and $5.79 per share in 2025, 2024, and 2023, respectively. The total fair value of all PSUs vested was $1.4 million, $3.5 million, and $3.7 million in 2025, 2024, and 2023, respectively.
Employee stock purchase plan. For 2025, 2024, and 2023, the Company issued 1.0 million, 1.4 million, and 0.9 million shares under its employee stock purchase plans, respectively, at weighted-average prices of $0.71, $1.56, and $4.10 per share, respectively.
Fair value disclosures. 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 RSUs and PSUs are determined using the Company’s closing stock price on the date of grant. The Company recognizes compensation expense for PSUs when it is probable that the vesting conditions will be met. The fair value of stock options granted and purchases under the Company’s ESPP are estimated using a Black-Scholes option pricing model. The expected term of stock options granted was estimated based on the simplified method. The expected stock price volatility was estimated by taking the Company’s average historical volatility. The risk-free interest rate was based on the yields of U.S. Treasury securities with maturities similar to the expected term. The dividend yield was zero as the Company does not have any history of, nor plans to make, dividend payments.
The fair value of stock options granted was estimated as of the grant date using the following assumptions in 2023. The Company did not grant any options in 2025 or 2024.
Year ended December 31,
2023
Volatility
59%-60%
Expected term (years)6.10
Risk-free interest rate
3.5%-4.5%
Dividend yield—%
The fair value of stock purchase rights granted under the ESPP was estimated using the following assumptions:
Year ended December 31,
202520242023
Volatility
70%-96%
57%-59%
39%-42%
Expected term (years)0.50.50.5
Risk-free interest rate
4.1%-4.3%
5.0%-5.3%
5.0%-5.6%
Dividend yield—%—%—%
Stock-based compensation expense. The following table summarizes stock-based compensation expense included in the consolidated statements of operations:
Year ended December 31,
(in thousands)202520242023
Cost of revenue$946 $1,343 $1,955 
Research and development10,393 14,411 19,062 
Sales and marketing3,533 5,804 8,736 
General and administrative4,670 7,574 11,726 
Total stock-based compensation expense$19,542 $29,132 $41,479 
Total stock-based compensation expense includes accrued stock bonus expense of $2.1 million for the year ended December 31, 2025. Total stock-based compensation expense included no accrued stock bonus expense for the year ended December 31, 2024 or 2023.
There was no income tax benefit related to stock-based compensation expense for the year ended December 31, 2025 and 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 was $9.3 million for the year ended December 31, 2023. See Note 9 Income taxes for additional details.
As of December 31, 2025, total unearned stock-based compensation of $12.5 million related to stock options, RSUs, PSUs, SBAs and ESPP shares is expected to be recognized over a weighted-average period of 2.07 years
v3.25.4
Net loss per share
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net loss per share
The following table presents the calculations of basic and diluted net loss per share:
Year ended December 31,
(in thousands, except per share data)202520242023
Numerator:
Net loss$(93,487)$(432,311)$(53,183)
Denominator:
Weighted-average common shares - basic and diluted for Class A and Class B common stock158,579 153,113 153,348 
Basic and diluted net loss per share$(0.59)$(2.82)$(0.35)
The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive:
Year ended December 31,
(in thousands)202520242023
Stock-based awards14,396 16,207 15,839 
Shares related to convertible senior notes8,783 10,050 14,808 
Warrants2,120 — — 
Total anti-dilutive securities25,299 26,257 30,647 
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 awards, stock awards, and warrants 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 outstanding 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 Company repaid the remaining $93.8 million in aggregate principal of the 2025 Notes at maturity on November 15, 2025 with restricted cash on hand, as described further in Note 5 Financing arrangements.
The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock and has no expiration date. Each share of Class B common stock will convert automatically into one share of Class A common stock upon the date when the outstanding shares of Class B common stock represent less than 10% of the aggregate number of shares of common stock then outstanding. Class A common stock is not convertible into Class B common stock. The computation of the diluted net income per share of Class A common stock assumes the conversion of Class B common stock.
v3.25.4
Income taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income taxes
9. Income taxes
Income (loss) before income taxes consisted of the following:
Year ended December 31,
(in thousands)
202520242023
United States$(99,883)$(142,195)$(79,514)
Foreign8,435 9,106 11,781 
Loss before income taxes$(91,448)$(133,089)$(67,733)
Income tax expense (benefit) consisted of the following:
Year ended December 31,
(in thousands)
202520242023
Current
Federal$1 $1 $3 
State72 (28)162 
Foreign1,689 2,478 3,176 
Total current$1,762 $2,451 $3,341 
Deferred
Federal$87 $222,087 $(14,018)
State— 74,886 (3,828)
Foreign190 (202)(45)
Total deferred$277 $296,771 $(17,891)
Total income tax expense (benefit)
Federal$88 $222,088 $(14,015)
State72 74,858 (3,666)
Foreign1,879 2,276 3,131 
Total income tax expense (benefit)$2,039 $299,222 $(14,550)
Income taxes paid (net of refunds) that equal or exceed 5% of total income taxes paid (net of refunds received) consisted of the following:
Year ended December 31,
(in thousands)
202520242023
U.S. federal$— $— $— 
States
Arkansas(91)71 87 
California(47)— 102 
Illinois(80)— 156 
Minnesota— — 28 
Montana— (100)125 
New York— — 44 
Pennsylvania— (88)55 
Texas— — 117 
Other66 (17)97 
(152)(134)811 
Foreign
Australia191 — 160 
China— 234 65 
Germany - Munich— — (39)
Japan - federal171 390 179 
Japan - local130 235 139 
Netherlands236 229 (2,171)
Philippines— — 44 
Romania75 — 95 
United Kingdom156 99 211 
Other39 40 (31)
998 1,227 (1,348)
Total$846 $1,093 $(537)
Income tax expense (benefit) at the effective tax rate consisted of the following:
Year ended December 31,
202520242023
$%$%
$
%
(in thousands, except percentages)
Tax at U.S. federal statutory rate (21%)$(19,204)21.0 %$(27,949)21.0 %$(14,224)21.0 %
State income taxes, net of federal benefit(415)0.5 74,864 (56.3)(3,699)5.5 
Foreign tax effects
France
Non-taxable and nondeductible items(873)1.0 (631)0.5 (881)1.3 
Other, net363 (0.4)(10)— 156 (0.3)
Other foreign jurisdiction(164)0.2 184 (0.1)260 (0.4)
Effects of cross-border tax laws
Federal taxation of foreign disregarded entities1,361 (1.5)1,546 (1.2)2,123 (3.1)
Tax credits
Research tax credits(1,317)1.4 (3,569)2.7 (3,736)5.5 
Changes in valuation allowance - federal14,356 (15.7)247,750 (186.1)— — 
Non-taxable and nondeductible items
Tax effect on share-based compensation3,722 (4.1)5,132 (3.9)3,125 (4.6)
Goodwill impairment2,537 (2.8)— — — — 
Other, net75 (0.1)508 (0.4)656 (1.0)
Worldwide changes in unrecognized tax benefits1,598 (1.7)1,397 (1.0)1,670 (2.4)
Income tax provision at effective tax rate$2,039 (2.2)%$299,222 (224.8)%$(14,550)21.5 %
The negative effective tax rate of 2.2% for 2025 primarily resulted from a change in the valuation allowance on the United States federal and state net deferred tax assets, nondeductible equity tax expense from employee stock-based compensation, and tax expense from goodwill impairment, partially offset by a tax benefit on a pre-tax net loss and the federal and California research and development credits. The negative effective tax rate of 224.8% for 2024, primarily resulted from the establishment and the current year change in the valuation allowance on the United States federal and state net deferred tax assets, partially offset by a tax benefit on a pre-tax net loss, and the release of a portion of uncertain tax positions as a result of a lapse in the statute of limitations in certain jurisdictions.
The state income tax rate reconciliation amount is primarily attributable to state income taxes in Kentucky and Texas, which, in the aggregate, represent more than 50% of the total state income tax effect for the year.
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and deferred tax liabilities were as follows:
Year ended December 31,
(in thousands)
20252024
Deferred tax assets:
Net operating loss carryforwards$190,968 $110,724 
Tax credit carryforwards104,319 101,895 
Stock-based compensation3,163 4,531 
Allowance for returns1,098 1,706 
Intangible assets2,536 1,873 
Depreciation and amortization1,455 1,177 
Operating lease liabilities4,532 6,784 
Capitalized research and development costs19,697 80,310 
Accruals and reserves19,361 21,944 
Total deferred tax assets347,129 330,944 
Valuation allowance(344,611)(327,367)
Net deferred tax assets, net of valuation allowance$2,518 $3,577 
Deferred tax liabilities:
Operating lease right-of-use assets$(2,635)$(3,424)
Total deferred tax liabilities(2,635)(3,424)
Net deferred tax assets (liabilities)$(117)$153 
Each quarter, the Company assesses the realizability of its existing deferred tax assets under ASC Topic 740. The Company assesses available positive and negative evidence to estimate whether sufficient future taxable income will be generated to realize its deferred tax assets. In the assessment for the period ended December 31, 2025, the Company concluded that it remains more likely than not that the Company will not be able to realize its deferred tax assets. As of December 31, 2025, the total valuation allowance on United States federal and state net deferred tax assets was $344.6 million. The Company will continue to monitor its future financial results, expected projections and their potential impact on the Company’s assessment regarding the recoverability of its deferred tax asset balances and in the event there is a need to release the valuation allowance, a tax benefit would be recorded. The Company’s foreign deferred tax assets in each jurisdiction are supported by taxable income or in the case of acquired companies, by the future reversal of deferred tax liabilities. It is more likely than not that the Company’s foreign deferred tax assets will be realized and thus, a valuation allowance is not required on its foreign deferred tax assets.
As of December 31, 2025, the Company’s federal, California, and other state net operating loss carryforwards for income tax purposes were $752.5 million, $261.8 million, and $283.5 million, net of reserves, respectively. Also, the Company’s federal and California state tax credit carryforwards were $58.1 million and $58.4 million, net of reserves, respectively. If not utilized, federal net operating losses that arose before 2018 and California loss carryforwards will begin to expire from 2035 to 2045, while federal credit and other state loss carryforwards will begin to expire primarily from 2026 to 2045. Federal net operating losses that arose after 2017 and all California tax credits will be carried forward indefinitely.
Uncertain income tax positions. The Company had gross unrecognized tax benefits of $29.7 million, $27.0 million, and $25.8 million, as of December 31, 2025, 2024, and 2023, respectively. For fiscal year 2025, 2024, and 2023, total unrecognized income tax benefits were $15.2 million, $11.6 million, and $10.9 million, respectively, and if recognized, would reduce income tax expense. A material portion of the Company’s gross unrecognized tax benefits, if recognized, would increase the Company’s net operating loss carryforward.
The Company conducts business globally and as a result, files income tax returns in the United States and foreign jurisdictions. The Company’s unrecognized tax benefits relate primarily to unresolved matters with taxing authorities. While it is often difficult to predict the final outcome or the timing of resolution of any particular uncertain tax position, the Company believes that its reserves reflect the more likely outcome.
A reconciliation of the beginning and ending amount of gross unrecognized income tax benefits are as follows:
Year ended December 31,
(in thousands)
202520242023
Balance at January 1$27,019 $25,836 $23,414 
Increase related to current year tax positions5,815 4,665 4,948 
Decrease related to prior year tax positions(3,173)(3,482)(2,526)
Balance at December 31$29,661 $27,019 $25,836 
The Company’s policy is to account for interest and penalties related to income tax liabilities within the provision for income taxes. The balances of accrued interest and penalties recorded in the balance sheets and provision were not material for any period presented.
The Company files income tax returns in the United States and in foreign jurisdictions. As of December 31, 2025, the Company continues to assert indefinite reinvestment to the extent of any foreign withholding taxes on the undistributed earnings related to these foreign branches. Any foreign withholding tax on these earnings is deemed not to be material.
v3.25.4
Related party transactions
 12 Months Ended
Dec. 31, 2025
Related Party Transactions [Abstract]  
Related party transactions Related party transactions
On November 5, 2025, a trust affiliated with Nicholas Woodman, the Company’s Chief Executive Officer and Chairman of the Board of Directors, entered into an agreement (the Subscription Agreement) to purchase an aggregate of $2.0 million of the Company’s Class A common stock shares, par value $0.0001. Pursuant to the Subscription Agreement, the actual amount of Class A common stock shares to be issued were to be determined upon the calculation of the purchase price of the shares, which was calculated as the greater of the following variables: (a) the consolidated closing bid price (as determined pursuant to the rules of the Nasdaq Stock Market) immediately prior to entry into the Subscription Agreement or (b) the average closing price of the Class A common stock over the five (5) trading days prior to the date of issuance, as reported on the Nasdaq Global Select Market. On November 10, 2025, 1,129,944 shares of Class A common stock were issued at a price per share of $1.77, which price was based on the consolidated closing bid price, which was the greater of the two variables. The issuance of shares was included within common stock and additional paid-in capital on the consolidated balance sheets. The $2.0 million was paid to the Company in November 2025, and the Company had zero outstanding receivables from the Chief Executive Officer as of December 31, 2025.
v3.25.4
Commitments, contingencies and guarantees
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments, contingencies and guarantees
11. Commitments, contingencies, and guarantees
Facility leases. The Company leases its facilities under long-term operating leases, which expire at various dates through 2033.
The components of net lease cost, which were primarily recorded in operating expenses, were as follows:
Year ended December 31,
(in thousands)202520242023
Operating lease cost (1)
$9,003 $10,262 $11,045 
Sublease income(2,892)(2,817)(2,281)
Right-of-use asset impairment cost— 3,276 — 
Net lease cost$6,111 $10,721 $8,764 
(1)    Operating lease costs include immaterial variable lease costs and amounts related to restructuring charges, which are discussed in Note 13 Restructuring charges.

Supplemental cash flow information related to leases was as follows:
Year ended December 31,
(in thousands)202520242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$14,239 $13,737 $12,217 
Right-of-use assets obtained in exchange for operating lease liabilities2,272 4,801 3,943 

Supplemental balance sheet information related to leases was as follows:
December 31, 2025December 31, 2024
Weighted-average remaining lease term (in years) - operating leases2.763.10
Weighted-average discount rate - operating leases6.4%6.3%

As of December 31, 2025, maturities of operating lease liabilities were as follows:
(in thousands)December 31, 2025
2026$13,381 
20272,995 
20281,301 
2029884 
2030761 
Thereafter2,157 
Total lease payments21,479 
Less: Imputed interest(2,081)
Present value of lease liabilities$19,398 
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, which may contain minimum returns; and various other contractual commitments.
As of December 31, 2025, future commitments were as follows:
(in thousands)
Total20262027202820292030Thereafter
Other contractual commitments (1)
$86,573 $61,704 $22,510 $2,359 $— $— $— 
Long-term debt (2)
66,422 9,550 11,939 44,933 — — — 
Total contractual cash obligations
$152,995 $71,254 $34,449 $47,292 $— $— $— 
(1)    Includes a $55.7 million contractual commitment related to cloud infrastructure and storage, of which, $39.5 million is due within the next 12 months.
(2)    The Company's 2025 Term Loan is due in January 2028. The balances include accrued and unpaid interest as of December 31, 2025. Refer to Note 5 Financing arrangements.
Legal proceedings and investigations. Since 2015, non-practicing entity Contour IP Holding LLC (CIPH) and its affiliates have filed lawsuits against the Company in various federal district courts alleging patent infringement of the Company’s camera products. Following litigation before federal district courts, the Federal Circuit, 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 to the Federal Circuit. In September 2024, the Federal Circuit panel reversed the district court ruling. On remand, a trial for Contour IP Holding, LLC v. GoPro, Inc. (Case No. 3:17-cv-04738-WHO) commenced on September 29, 2025 before the United States District Court for the Northern District of California (the Court). On October 10, 2025, a jury returned a verdict. The jury concluded that none of the Company’s products commercially launched from 2020 – 2024, including HERO9 Black to HERO13 Black, infringe the two asserted patents. Additionally, the jury invalidated the only asserted claim of one of the two patents. With respect to the other asserted patent, the jury found one independent claim valid, but also determined that the related dependent claim is invalid. The Company has been advised by legal counsel that as a matter of patent law, if a dependent claim is invalid as obvious or anticipated by prior art, then the claim from which it depends is also invalid. The verdict is subject to post-trial motions by both parties. We are unable to predict the outcome of the matter and therefore cannot estimate the range of possible loss. With respect to certain legacy cameras that the Court previously found to infringe, the jury awarded CIPH $8.2 million in past damages. Based on the jury’s findings of non-infringement and invalidity, none of the Company’s products introduced in or after 2020 are subject to the damages award. In addition to post-trial motions, the verdict is subject to appeal. No judgment has been entered.
On March 29, 2024, the Company filed a complaint with the U.S. International Trade Commission (ITC) and a lawsuit in the U.S. District Court for the Central District of California against Arashi Vision Inc., and Arashi Vision (U.S.) LLC, both d/b/a Insta360 (Insta360). The complaint and lawsuit each allege infringement of certain GoPro patents related to the Company’s cameras and digital imaging technology. On February 27, 2026, the Commission found that Insta360 had infringed GoPro’s valid design patent and issued a limited exclusion order and cease and desist order prohibiting Insta360 from continued importation or sale after importation of its infringing Ace, Ace Pro, and Ace Pro 2 action cameras. The Commission also found that some claims of certain utility patents were shown not to be infringed and some claims of certain patents were shown to be invalid. GoPro is considering whether to appeal certain of these rulings. Separately, Insta360 filed inter partes review (IPR) petitions seeking to challenge the validity of several GoPro patents at the Patent Office’s Patent Trial and Appeal Board (PTAB). The PTAB largely found that Insta360 had failed to establish unpatentability of most of GoPro’s patent claims. The PTAB found only partial unpatentability on two patents, and GoPro has taken steps to challenge these rulings. Insta360 has also filed three patent infringement actions against the Company in China (Jiangsu High Court, Changsha Intermediate Court IP Tribunal, and Shenzhen Intermediate People’s Court), each of which the Company believes lacks merit and intends to defend against. GoPro’s district court litigation, including its claims for damages on the same patents asserted in the ITC, remains stayed pending any appeals from the ITC ruling. The ITC ruling is not binding on the federal district court.
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 December 31, 2025, 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.
v3.25.4
Concentrations of risk and geographic information
 12 Months Ended
Dec. 31, 2025
Risks and Uncertainties [Abstract]  
Concentrations of risk and segment information Concentrations of risk and geographic information
Concentration of risk. Financial instruments that potentially subject the Company to concentration of credit risk include cash, cash equivalents, accounts receivable, and derivative instruments. 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:
December 31, 2025December 31, 2024
Customer A14%26%
Customer B10%*
Customer C10%*
* Less than 10% of net accounts receivable for the periods indicated.
The following table summarizes the Company’s accounts receivables sold, without recourse, and factoring fees paid:
Year ended December 31,
(in thousands)
202520242023
Accounts receivable sold$68,456 $88,357 $103,990 
Factoring fees1,266 1,287 1,555 
Third-party customers who represented 10% or more of the Company’s total revenue were as follows:
Year ended December 31,
202520242023
Customer A12%**
Customer B10%**
* Less than 10% of total revenue for the periods indicated.
Supplier concentration. The Company relies on third parties for the supply and manufacture of its hardware 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 hardware 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 hardware products to its customers on time.
Geographic information
Revenue by geographic region, based on ship-to locations, was as follows:
Year ended December 31,2025 vs 20242024 vs 2023
(in thousands)
202520242023
% Change
% Change
Americas$383,481 $378,934 $469,675 1 %(19)%
Europe, Middle East and Africa (EMEA)190,809 258,976 290,814 (26)(11)
Asia and Pacific (APAC)77,252 163,563 244,970 (53)(33)
Total revenue$651,542 $801,473 $1,005,459 (19)%(20)%
Revenue from the United States, which is included in the Americas geographic region, was $310.2 million, $291.3 million, and $388.0 million for 2025, 2024, and 2023, respectively. No other individual country exceeded 10% of total revenue for any period presented.
As of December 31, 2025 and 2024, long-lived assets, which represent net property and equipment, located outside the United States, primarily in Hong Kong and mainland China, were $3.1 million and $3.5 million, respectively.
v3.25.4
Restructuring charges
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Activities Disclosure
13. Restructuring charges
Restructuring charges for each period were as follows:
Year ended December 31,
(in thousands)202520242023
Cost of revenue$12 $755 $(90)
Research and development1,430 16,585 687 
Sales and marketing542 5,310 130 
General and administrative2,060 1,762 11 
Total restructuring charges$4,044 $24,412 $738 
Third quarter 2024 restructuring
In August 2024, the Company approved a restructuring plan (the Original Restructuring Plan) and in October 2024, the Company approved an amended restructuring plan (the Updated Restructuring Plan). In connection with the Original Restructuring Plan and Updated Restructuring Plan, the Company reduced its global workforce by 25% compared to its headcount ending Q2 2024, and recorded restructuring charges of $18.7 million including $12.7 million related to severance and $6.0 million of project cancellation costs. As of December 31, 2025, the Company expects to pay the remaining restructuring liability related to the Updated Restructuring Plan in cash.
(in thousands)SeveranceOther
Total
Restructuring liability as of December 31, 2024
$2,535 $6,038 $8,573 
Cash paid(2,216)(2,038)(4,254)
Non-cash reductions(319)— (319)
Restructuring liability as of December 31, 2025
$— $4,000 $4,000 
First quarter 2024 restructuring
In March 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 closing certain office space. Under the first quarter 2024 restructuring plan, the Company recorded restructuring charges of $2.3 million related to severance, $3.3 million related to a right-of-use asset impairment upon ceasing the use of part of the Company’s headquarters campus and $0.6 million related to office space charges. The right-of-use asset impairment charge was recorded as a restructuring expense, primarily in the operating expense financial statement line items in the consolidated statements of operations. The unused portion of the Company’s headquarters campus has its own identifiable expenses and is not dependent on other parts of the Company, and thus was considered its own asset group. As a result, the Company impaired the carrying value of the related right-of-use asset to its estimated fair value using the discounted cash flows method. The discounted future cash flows were based on a discount rate based on the weighted-average cost of capital. As of March 31, 2025, all restructuring charges related to the first quarter 2024 restructuring plan have been paid.
v3.25.4
Subsequent Events
 12 Months Ended
Dec. 31, 2025
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
On February 27, 2026, the Company amended the 2021 Credit Agreement and 2025 Credit Agreement, as referenced in Note 5 Financing arrangements.
On February 27, 2026, the Company entered into a securities purchase agreement (Securities Purchase Agreement) with YA II PN, Ltd. (YA II PN), a fund of Yorkville Advisors Global, LP in connection with the issuance and sale by the Company of convertible debentures (the Convertible Debentures) issuable in an aggregate principal amount of up to $50.0 million, which Convertible Debentures will be convertible into shares of the Company’s Class A common stock, par value $0.0001 per share (the Common Stock) (as converted, the Conversion Shares). Conversion of the Convertible Debentures will dilute the ownership interests of existing stockholders. Pursuant to the Securities Purchase Agreement, YA II PN purchased $25.0 million in aggregate principal amount of Convertible Debentures on the signing of the Securities Purchase Agreement. At the Company’s discretion, YA II PN may purchase and the Company may issue an additional $5.0 million on the day prior to the filing of a registration statement with the SEC. At the Company’s discretion, YA II PN may purchase and the Company may issue an additional $20.0 million in aggregate principal amount of Convertible Debentures on or about the second business day following the satisfaction of certain closing conditions.
The Convertible Debentures accrue interest at 0% per annum, unless (i) certain interest rate adjustment events occur, upon which the Convertible Debentures will bear interest at an annual rate of 5.00% until such interest rate adjustment event is no longer continuing, or (ii) the Company has issued Conversion Shares that reaches a capped level within the first six months or an event of default occurs and remains uncured, upon which the Convertible Debentures will bear interest at an annual rate of 18.00%. The Convertible Debentures will mature in August 2027, unless previously redeemed. The Convertible Debentures may be redeemed prior to maturity so long as the Company’s stock price is above $1.1453, with a redemption premium of 7% of the principal amount being paid. The Convertible Debentures will be issued at an original issue discount of 3.00%.
The Convertible Debentures are convertible at the option of the holder into Common Stock equal to the applicable Conversion Amount divided by the Conversion Price. The conversion price for the Convertible Debentures will be the lower of (i) $1.1453, or (ii) 98% of the lowest daily volume weighted average price of the Common Stock during the five consecutive trading days immediately preceding the date of conversion or other date of determination, but which shall not be lower than $0.1736, (the Conversion Price). Any portion of the Convertible Debentures may be converted at any time and from time to time, subject to the Exchange Cap. The Conversion Amount with respect to any requested conversion will equal the principal amount requested to be converted plus all accrued and unpaid interest on the Convertible Debentures as of such conversion, with fractional shares rounded up (the Conversion Amount). In addition, no conversion will be permitted to the extent that, after giving effect to such conversion, the holder together with the certain related parties would beneficially own in excess of 4.99% of the Common Stock outstanding immediately after giving effect to such conversion, subject to certain adjustments.
The Company shall not issue any Common Stock upon conversion of the Convertible Debentures held by YA II PN if the issuance of such Common Stock underlying the Convertible Debentures would exceed the aggregate
number of Common Stock that the Company may issue upon conversion of the Convertible Debentures in compliance with the Company’s obligations under the rules or regulations of Nasdaq Stock Market (the Exchange Cap). The Exchange Cap will not apply under certain circumstances, including if the Company obtains the approval of its stockholders as required by the applicable rules of the Nasdaq Stock Market for issuances of Common Stock in excess of such amount, or if the Company obtains a written opinion from outside counsel to the Company that such stockholder approval is not required. In addition, for the first six months following the date of the Securities Purchase Agreement the Company shall not issue any Conversion Shares to the extent that the aggregate number of Conversion Shares that the Company has issued would exceed 47,650,000 Common Shares
v3.25.4
Insider Trading Arrangements
 3 Months Ended 12 Months Ended
Dec. 31, 2025
shares
Dec. 31, 2025
shares
Trading Arrangements, by Individual    
Material Terms of Trading Arrangement  
The Company has adopted insider trading policies and procedures governing the purchase, sale, and/or other dispositions of the Company’s securities by directors, officers and employees that are reasonably designed to promote compliance with insider trading laws, rules and regulations, and listing standards.
Set forth below is certain information regarding “Rule 10b5-1 trading arrangements” (Rule 10b5-1 trading plans) or a “non-Rule 10b5-1 trading arrangements” (non-Rule 10b5-1 trading plans), each as defined in Regulation S-K Item 408, adopted by our directors and officers (as defined in Rule 16a-1(f)) during the fourth quarter of fiscal year 2025. The Rule 10b5-1 trading plans listed below are each intended to satisfy the affirmative defense of Rule 10b5-1(c).
NameTitleDate Plan was AdoptedExpiration DateTotal Amount of Class A Common Stock to be Sold Under the PlanTotal Amount of Class B Common Stock to be Sold Under the PlanTotal Amount of Class A & B Common Stock to be Sold Under the Plan
Jason StephenVice President, General Counsel & Corporate Secretary
8/19/2025(1)
8/19/2026123,756—
123,756(2)
(1)    On August 19, 2025, Jason Stephen, our Vice President, General Counsel & Corporate Secretary, entered into a Rule 10b5-1 trading plan (the "Stephen 2025 Plan") which was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.
(2)    The Stephen 2025 Plan provides for the sale of up to a maximum of 123,756 shares of Class A common stock comprised of shares acquired upon the vesting of restricted stock units and performance-based restricted stock units, previously vested restricted stock units, and previous purchases under the Company's Employee Stock Purchase Plan. During the term of the Stephen 2025 Plan, all vested shares received pursuant to equity awards granted to Mr. Stephen will exclude any shares withheld by the Company to satisfy its income tax withholding and remittance obligations in connection with the net settlement of the equity awards. Performance-based restricted stock units are subject to the satisfaction of certain performance criteria and have a payout range of 0% - 150%. Due to pricing conditions in the Stephen 2025 Plan and the vesting conditions of the awards, the number of shares actually sold under the Stephen 2025 Plan may be less than the maximum number of shares that can be sold, as noted in the table above. The Stephen 2025 Plan will expire on August 19, 2026, or earlier if all transactions under the Stephen 2025 Plan are completed.

On July 29, 2025, Nicholas Woodman, our Chief Executive Officer and Chairman, terminated a Rule 10b5-1 trading plan which was adopted on August 30, 2024 on behalf of The Woodman Family Trust U/A/D 03-11-2011 (WFT 2024 Plan) and intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act. As of the date of termination of this Rule 10b5-1 trading plan, the WFT Plan had sold no shares of Class A common stock under its terms.
No other officers or directors, as defined in Rule 16a-1(f), adopted, modified, or terminated a Rule 10b5-1 trading plan or a non-Rule 10b5-1 trading plan during the fourth quarter ended December 31, 2025.
Jason Stephen [Member]    
Trading Arrangements, by Individual    
Name Jason Stephen  
Title Vice President, General Counsel & Corporate Secretary  
Rule 10b5-1 Arrangement Adopted true  
Adoption Date August 19, 2025  
Expiration Date 8/19/2026  
Aggregate Available 123,756 123,756
Nicholas Woodman [Member]    
Trading Arrangements, by Individual    
Name Nicholas Woodman  
Title Chief Executive Officer and Chairman  
Rule 10b5-1 Arrangement Terminated true  
Termination Date July 29, 2025  
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes Integrated [Text Block]
Our periodic assessment and testing of policies, standards, processes, and practices that are designed to address cybersecurity threats and incidents include a wide range of activities, including audits, assessments, tabletop exercises, threat modeling, vulnerability testing, simulated attacks, and other exercises focused on evaluating the effectiveness of our cybersecurity measures and planning. We regularly engage third parties to perform assessments on our cybersecurity measures, including information security maturity assessments, audits, and independent reviews of our information security control environment and operating effectiveness.
We also actively engage with key vendors, industry participants, and intelligence and law enforcement communities as part of our continuing efforts to evaluate and enhance the effectiveness of our information security policies and procedures. We regularly train all employees on cybersecurity risks, such as phishing attacks, and employees are required to acknowledge our cybersecurity policy annually through our Code of Conduct.
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]
Our Chief Information Security Officer (CISO) oversees our information security program and is responsible for leading and implementing, with a cross functional team, our cybersecurity strategy, policy, architecture, and risk management processes. Our CISO has over 20 years of experience in cybersecurity, serving as a security consultant to Fortune 100 companies, and a subject matter expert in computer forensics to law firms and U.S. government agencies.
The Audit Committee of our board of directors (Audit Committee) has oversight responsibility for our cybersecurity program and reviews with management the Company’s policies and procedures for identifying, assessing, managing, and monitoring information security and cybersecurity risks.
The CISO provides regular updates to the Audit Committee on cybersecurity and other risks relevant to our information technology environment, including developments in the cybersecurity space and evolving standards, the results of periodic exercises and response readiness assessments and we adjust our cybersecurity policies, standards, processes, and practices as necessary based on the information provided by these assessments, audits, and reviews. Our cybersecurity program is regularly evaluated by internal and external experts with the results of those reviews reported to senior management and the Audit Committee.
v3.25.4
Summary of business and significant accounting policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of presentation
Basis of presentation. The accompanying 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 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.
Principles of consolidation
Principles of consolidation. These 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 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 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), 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.
Comprehensive income (loss) Comprehensive income (loss). For all periods presented, comprehensive income (loss) approximated net income (loss). Therefore, the consolidated statements of comprehensive income (loss) have been omitted
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy
Impairment of goodwill and long-lived assets. 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.
In the first quarter of 2025, the Company’s market capitalization declined 38% from December 31, 2024, in part due to tariffs and geopolitical events, resulting in the Company’s market capitalization no longer exceeding the carrying value of its single reporting unit as of March 31, 2025. As a result, the Company performed a quantitative goodwill impairment analysis and estimated the fair value of its single reporting unit utilizing the income approach using a discounted future cash flow model and a market approach. The analysis required estimates which consist of significant judgment related to the estimation of future cash flow and discount rates. The analysis was dependent on internal forecasts and profitability measures as well as certain unobservable Level 3 inputs such as the estimation of long-term revenue growth rates, terminal growth rates, and determination of the discount rate. As a result of the quantitative impairment test, the Company concluded that the carrying value of its single reporting unit exceeded its fair value, resulting in the recognition of an $18.6 million goodwill impairment charge in the first quarter of 2025. There was no goodwill impairment charge recorded in 2024 or 2023.
The Company completed its annual impairment test of goodwill as of December 31, 2025 using a qualitative assessment and concluded that it was not more likely than not that the fair value of the Company’s single reporting unit was less than the carrying value. Additionally, as of December 31, 2025, the market capitalization exceeded the carrying value of the Company’s single reporting unit by 67%, which was not adjusted for an acquisition control premium, which would further increase the percentage the fair value exceeded the carrying value. Additionally, the Company has not identified other impairment triggering events. Using the market capitalization approach, the fair value of its single reporting unit is estimated based on the trading price of its 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.
The estimated fair value of the Company’s single reporting unit is affected by the volatility in the Company’s stock price. For example, a 5% decrease in the Company’s December 31, 2025 stock price would result in its market capitalization exceeding the carrying value of its single reporting unit by 65%, which is not adjusted for an acquisition control premium. If the Company's market capitalization declines 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.
Long-lived assets, such as property and equipment, intangible assets subject to amortization, and right-of-use assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset group may not be recoverable. Recoverability of assets to be held and used is measured by comparing the carrying amount to the estimated future undiscounted cash flows expected to be generated by the asset group. If it is determined that an asset group is not recoverable, an impairment charge is recognized for the amount by which the carrying amount of the asset group exceeds its fair value. The Company recorded a $3.3 million right-of-use asset impairment in 2024 related to its headquarters campus as described further in Note 13 Restructuring charges. The Company used the following significant assumption to determine the impairment charge: discount rate based on the weighted-average cost of capital. The Company did not record any impairment charges in 2025 or 2023.
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 hardware 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 hardware 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’s Premium+ subscription 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 100 GB of non-GoPro content, 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 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 hardware 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 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 revenue 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 December 31, 2025 and 2024 includes amounts related to the Company’s subscriptions and PCS. The Company’s short-term and long-term deferred revenue balances totaled $54.2 million and $58.3 million as of December 31, 2025 and 2024, respectively. During the year ended December 31, 2025 and 2024, the Company recognized $55.4 million and $55.8 million of revenue that was included in the deferred revenue balance as of December 31, 2024 and 2023, respectively.
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. The Company 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. As of December 31, 2025, the Company intends to continue to maintain a full valuation allowance on its United States federal and state deferred tax assets until there is sufficient evidence to support the reversal of all or some portion of these allowances.
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 aggregated and consolidated basis to its Chief Executive Officer, who is the Company’s chief operating decision maker (CODM). The CODM assesses performance of the Company’s one operating segment and decides how to allocate resources based on net income (loss), which is also reported on the consolidated statements of operations as net income (loss). The CODM regularly compares net income (loss) against forecast and prior periods when deciding which areas of the business to allocate resources. The significant expense categories within net income (loss) that the CODM regularly reviews are cost of revenue and operating expenses, which consists of three main subcategories: research and development, sales and marketing, and general and administrative. All significant expense categories and subcategories are reported on the consolidated statements of operations. Other items included in net income (loss) but are excluded from the significant expense categories include interest expense, other income (expense), net, and income tax expense (benefit), all of which are also reported on the consolidated statements of operations. Interest income, which is included in other income (expense), net was $3.1 million, $4.7 million, and $9.9 million in 2025, 2024, and 2023, respectively.
Business Combination
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. The accompanying audited consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the continuity of operations, realization of assets, and liquidation of liabilities in the normal course of business. In the year ended December 31, 2025, the Company’s performance continued to be impacted by consumer-related macroeconomic issues resulting in a softer global consumer market, an increasingly global competitive landscape, tariffs and the sales volume of the Company’s 360-camera MAX2, which had a delayed introduction in September 2025. During the year ended December 31, 2025 and 2024, total revenue was $651.5 million and $801.5 million, respectively, representing an 18.7% decline year-over-year. As a result, the Company incurred operating losses of $83.3 million and operating cash outflows of $20.7 million during the year ended December 31, 2025. As of December 31, 2025 and 2024, the Company had cash and cash equivalents of $49.7 million and $102.8 million, respectively, and an accumulated deficit of $775.1 million and $681.6 million, respectively. For the period ended December 31, 2025, the Company was not in compliance with the asset coverage ratio or minimum EBITDA covenant within the 2025 Credit Agreement, and the Company subsequently cured the non-compliance by entering into an amendment on February 27, 2026 that amended the covenant requirements, as discussed in Note 5 Financing arrangements.
The Company has considered and assessed its ability to continue as a going concern for at least 12 months from the issuance of these audited consolidated financial statements. The Company’s assessment included the preparation of a cash flow forecast using a 2026 operational plan which incorporates the $25.0 million of proceeds received in February 2026 pursuant to the Securities Purchase Agreement, as discussed in Note 14 Subsequent
events, and amendments to the 2021 Credit Agreement, that extended the maturity date, and 2025 Credit Agreement, which was amended to remove or reduce the current and future minimum liquidity, asset coverage ratio and EBITDA covenants, as discussed in Note 5 Financing arrangements. The 2026 operational plan is structured to: (i) realize board approved cost savings to further reduce operating expenses in the second half of 2026; (ii) increase revenue generated from new product launches beginning in the second quarter of 2026; and (iii) ensure effective production planning and inventory management. The Company considered additional actions within its control that it would implement, if necessary, to maintain liquidity and operations in the ordinary course of business. Additional actions considered include further reducing discretionary spending in all areas of the business, further headcount restructuring actions, and at the Company’s discretion, the issuance of an additional $5.0 million and $20.0 million in aggregate principal of Convertible Debentures as discussed in Note 14 Subsequent events.
The Company estimates such actions will be sufficient to allow it to maintain liquidity and operations in the ordinary course of business for at least 12 months from the issuance of these consolidated financial statements. While the Company estimates such actions will be sufficient to allow it to maintain liquidity and operations in the ordinary course for at least 12 months from the issuance of these consolidated financial statements, there can be no assurance the Company will generate sufficient future cash from operations. Factors that can impact the Company’s future cash generation include, but are not limited to, underperformance of the Company’s product launches, inability to successfully manage production planning, inventory and working capital, further inflation impacting consumer demand and cost of components, rising interest rates, tariffs, increased component costs, component shortages or limited availability, ongoing recessionary conditions and continued competition. If the Company is not successful in maintaining demand for its products, or if macroeconomic conditions further constrain consumer demand, the Company may continue to experience adverse impacts to revenue and profitability. In addition, the Company may need additional financing to execute on its current or future business strategy, and additional financing may not be available or on terms favorable to the Company.
v3.25.4
Equity (Policies)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Stockholders' Equity, Policy
6. Stockholders’ equity
Common stock. The Company has two classes of authorized common stock: Class A common stock with 500 million shares authorized and Class B common stock with 150 million shares authorized. As of December 31, 2025, 136.1 million shares of Class A stock were issued and outstanding and 26.3 million shares of Class B stock were issued and outstanding. The rights of the holders of Class A and Class B common stock are identical, except with respect to voting power and conversion rights. 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. The Class B common stock is also convertible into Class A common stock on the same basis upon any transfer, whether or not for value, except for “permitted transfers” as defined in the Company’s restated certificate of incorporation. 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. As of December 31, 2025, the Class B stock continued to represent greater than 10% of the overall outstanding shares.
The Company had the following shares of common stock reserved for issuance upon the exercise of equity instruments as of December 31, 2025:
(in thousands)
December 31, 2025
Stock options outstanding1,444 
Restricted stock units outstanding9,915 
Performance stock units outstanding2,103 
Common stock available for future grants18,465 
Total common stock shares reserved for issuance31,927 
Stock Repurchase Program. On January 27, 2022, the Company’s board of directors authorized the repurchase of up to $100.0 million of its Class A common stock, and on February 9, 2023, the Company’s board of directors authorized the repurchase of an additional $40.0 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 December 31, 2025, the remaining amount of share repurchases under the program was $60.4 million. The Company did not repurchase any shares during the year ended December 31, 2025 and 2024.
v3.25.4
Fair value measurements (Tables)
 12 Months Ended
Dec. 31, 2025
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:
December 31, 2025December 31, 2024
(in thousands)Level 1Level 2Level 3TotalLevel 1Level 2Level 3Total
Cash equivalents (1):
Money market funds$40,120 $— $— $40,120 $42,436 $— $— $42,436 
Total cash equivalents$40,120 $— $— $40,120 $42,436 $— $— $42,436 
Other long-term liabilities
Warrant liability$— $— $6,255 $6,255 $— $— $— $— 
Total other long-term liabilities$— $— $6,255 $6,255 $— $— $— $— 
(1)    Included in cash and cash equivalents in the accompanying consolidated balance sheets. Cash balances were $9.6 million and $60.4 million as of December 31, 2025 and 2024, respectively.
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
Changes in the fair value of the Level 3 warranty liability during the year ended December 31, 2025 were as follows:
(in thousands)
Warrant Liability
Balance as of December 31, 2024$— 
Issuance of warrants3,218 
Change in fair value3,037 
Balance as of December 31, 2025$6,255 
Fair Value Measurement Inputs and Valuation Techniques
The fair value of the warrants was estimated with the following assumptions:
December 31, 2025
Volatility82 %
Risk-free interest rate3.5 %
Dividend yield— %
Expected term (years)2.06
v3.25.4
Condensed consolidated financial statement details (Tables)
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Inventory
(in thousands)
December 31, 2025December 31, 2024
Components
$2,554 $19,407 
Finished goods
75,877 101,309 
Total inventory$78,431 $120,716 
Property, Plant and Equipment
Property and equipment, net
(in thousands)
Useful life
(in years)		December 31, 2025December 31, 2024
Leasehold improvements1–9$24,014 $23,996 
Production, engineering, and other equipment437,265 38,018 
Tooling1–27,208 6,810 
Computers and software28,064 12,574 
Furniture and office equipment33,524 3,763 
Tradeshow equipment and other2–51,424 1,424 
Construction in progress132 156 
Gross property and equipment81,631 86,741 
Less: Accumulated depreciation and amortization(75,728)(78,045)
Property and equipment, net$5,903 $8,696 
Schedule of Other Assets
Other long-term assets
(in thousands)
December 31, 2025December 31, 2024
Point of purchase (POP) displays$9,986 $14,715 
Deposits and other9,977 7,550 
Intangible assets, net4,078 5,953 
Long-term deferred tax assets581 765 
Other long-term assets$24,622 $28,983 
Schedule of Accrued Liabilities
Accrued expenses and other current liabilities
(in thousands)
December 31, 2025December 31, 2024
Accrued sales incentives$38,259 $53,997 
Accrued liabilities30,274 26,060 
Employee related liabilities8,255 7,401 
Warranty liabilities4,315 5,930 
Return liability3,293 4,913 
Inventory received3,423 2,010 
Customer deposits1,216 2,694 
Purchase order commitments1,343 1,504 
Other5,478 6,260 
Accrued expenses and other current liabilities$95,856 $110,769 
Schedule of Product Warranty Liability
Product warranty
Year ended December 31,
(in thousands)
202520242023
Beginning balance$6,207 $8,759 $8,319 
Charged to cost of revenue9,791 10,822 19,724 
Settlement of warranty claims(11,405)(13,374)(19,284)
Warranty liability$4,593 $6,207 $8,759 
As of December 31, 2025 and 2024, $4.3 million and $5.9 million, respectively, of the warranty liability was recorded as a component of accrued expenses and other current liabilities, and $0.3 million and $0.3 million, respectively, was recorded as a component of other long-term liabilities.
Schedule of Goodwill
Changes to the carrying amount of goodwill during the year ended December 31, 2025 were as follows:
(in thousands)Carrying Amount
Carrying amount as of December 31, 2024$152,351 
Goodwill impairment(18,600)
Carrying amount as of December 31, 2025$133,751 
v3.25.4
Employee benefit plans (Tables)
 12 Months Ended
Dec. 31, 2025
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 year ended December 31, 2025 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 2024286 

$6.06 
Granted2,208 0.63 
Vested(221)6.14 
Forfeited(2,226)0.67 
Non-vested shares at December 31, 202547 $5.79 
Schedule of Share-based Compensation, Stock Options, Activity
A summary of the Company’s stock option activity for the year ended December 31, 2025 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, 20242,327 $7.43 4.59$— 
Granted— — 
Exercised— — 
Forfeited/Cancelled(883)8.03 
Outstanding at December 31, 20251,444 $7.06 3.24$— 
Vested and expected to vest at December 31, 20251,444 $7.06 3.24$— 
Exercisable at December 31, 20251,436 $7.05 3.22$— 
The weighted-average grant date fair value of all options granted was zero, zero, and $2.14 per share in 2025, 2024, and 2023, respectively. The total fair value of all options vested was $0.5 million, $0.8 million, and $1.4 million in 2025, 2024, and 2023, respectively.
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the Company’s RSU activity for the year ended December 31, 2025 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 202411,243 $3.38 
Granted6,963 0.83 
Vested(6,171)3.32 
Forfeited(2,120)2.52 
Non-vested shares at December 31, 20259,915 $1.81 
Allocation of Stock-based Compensation Expense The following table summarizes stock-based compensation expense included in the consolidated statements of operations:
Year ended December 31,
(in thousands)202520242023
Cost of revenue$946 $1,343 $1,955 
Research and development10,393 14,411 19,062 
Sales and marketing3,533 5,804 8,736 
General and administrative4,670 7,574 11,726 
Total stock-based compensation expense$19,542 $29,132 $41,479 
Total stock-based compensation expense includes accrued stock bonus expense of $2.1 million for the year ended December 31, 2025. Total stock-based compensation expense included no accrued stock bonus expense for the year ended December 31, 2024 or 2023.
v3.25.4
Net loss per share (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Net Income per Share, Basic and Diluted
8. Net loss per share
The following table presents the calculations of basic and diluted net loss per share:
Year ended December 31,
(in thousands, except per share data)202520242023
Numerator:
Net loss$(93,487)$(432,311)$(53,183)
Denominator:
Weighted-average common shares - basic and diluted for Class A and Class B common stock158,579 153,113 153,348 
Basic and diluted net loss per share$(0.59)$(2.82)$(0.35)
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:
Year ended December 31,
(in thousands)202520242023
Stock-based awards14,396 16,207 15,839 
Shares related to convertible senior notes8,783 10,050 14,808 
Warrants2,120 — — 
Total anti-dilutive securities25,299 26,257 30,647 
v3.25.4
Income taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Income tax expense (benefit) consisted of the following:
Year ended December 31,
(in thousands)
202520242023
Current
Federal$1 $1 $3 
State72 (28)162 
Foreign1,689 2,478 3,176 
Total current$1,762 $2,451 $3,341 
Deferred
Federal$87 $222,087 $(14,018)
State— 74,886 (3,828)
Foreign190 (202)(45)
Total deferred$277 $296,771 $(17,891)
Total income tax expense (benefit)
Federal$88 $222,088 $(14,015)
State72 74,858 (3,666)
Foreign1,879 2,276 3,131 
Total income tax expense (benefit)$2,039 $299,222 $(14,550)
Income taxes paid (net of refunds) that equal or exceed 5% of total income taxes paid (net of refunds received) consisted of the following:
Year ended December 31,
(in thousands)
202520242023
U.S. federal$— $— $— 
States
Arkansas(91)71 87 
California(47)— 102 
Illinois(80)— 156 
Minnesota— — 28 
Montana— (100)125 
New York— — 44 
Pennsylvania— (88)55 
Texas— — 117 
Other66 (17)97 
(152)(134)811 
Foreign
Australia191 — 160 
China— 234 65 
Germany - Munich— — (39)
Japan - federal171 390 179 
Japan - local130 235 139 
Netherlands236 229 (2,171)
Philippines— — 44 
Romania75 — 95 
United Kingdom156 99 211 
Other39 40 (31)
998 1,227 (1,348)
Total$846 $1,093 $(537)
Schedule of Income before Income Tax, Domestic and Foreign oss) before income taxes consisted of the following:
Year ended December 31,
(in thousands)
202520242023
United States$(99,883)$(142,195)$(79,514)
Foreign8,435 9,106 11,781 
Loss before income taxes$(91,448)$(133,089)$(67,733)
Schedule of Effective Income Tax Rate Reconciliation
Year ended December 31,
202520242023
$%$%
$
%
(in thousands, except percentages)
Tax at U.S. federal statutory rate (21%)$(19,204)21.0 %$(27,949)21.0 %$(14,224)21.0 %
State income taxes, net of federal benefit(415)0.5 74,864 (56.3)(3,699)5.5 
Foreign tax effects
France
Non-taxable and nondeductible items(873)1.0 (631)0.5 (881)1.3 
Other, net363 (0.4)(10)— 156 (0.3)
Other foreign jurisdiction(164)0.2 184 (0.1)260 (0.4)
Effects of cross-border tax laws
Federal taxation of foreign disregarded entities1,361 (1.5)1,546 (1.2)2,123 (3.1)
Tax credits
Research tax credits(1,317)1.4 (3,569)2.7 (3,736)5.5 
Changes in valuation allowance - federal14,356 (15.7)247,750 (186.1)— — 
Non-taxable and nondeductible items
Tax effect on share-based compensation3,722 (4.1)5,132 (3.9)3,125 (4.6)
Goodwill impairment2,537 (2.8)— — — — 
Other, net75 (0.1)508 (0.4)656 (1.0)
Worldwide changes in unrecognized tax benefits1,598 (1.7)1,397 (1.0)1,670 (2.4)
Income tax provision at effective tax rate$2,039 (2.2)%$299,222 (224.8)%$(14,550)21.5 %
Schedule of Deferred Tax Assets and Liabilities
Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets and deferred tax liabilities were as follows:
Year ended December 31,
(in thousands)
20252024
Deferred tax assets:
Net operating loss carryforwards$190,968 $110,724 
Tax credit carryforwards104,319 101,895 
Stock-based compensation3,163 4,531 
Allowance for returns1,098 1,706 
Intangible assets2,536 1,873 
Depreciation and amortization1,455 1,177 
Operating lease liabilities4,532 6,784 
Capitalized research and development costs19,697 80,310 
Accruals and reserves19,361 21,944 
Total deferred tax assets347,129 330,944 
Valuation allowance(344,611)(327,367)
Net deferred tax assets, net of valuation allowance$2,518 $3,577 
Deferred tax liabilities:
Operating lease right-of-use assets$(2,635)$(3,424)
Total deferred tax liabilities(2,635)(3,424)
Net deferred tax assets (liabilities)$(117)$153 
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending amount of gross unrecognized income tax benefits are as follows:
Year ended December 31,
(in thousands)
202520242023
Balance at January 1$27,019 $25,836 $23,414 
Increase related to current year tax positions5,815 4,665 4,948 
Decrease related to prior year tax positions(3,173)(3,482)(2,526)
Balance at December 31$29,661 $27,019 $25,836 
Schedule of Cash Flow, Supplemental Disclosures
Income taxes paid (net of refunds) that equal or exceed 5% of total income taxes paid (net of refunds received) consisted of the following:
Year ended December 31,
(in thousands)
202520242023
U.S. federal$— $— $— 
States
Arkansas(91)71 87 
California(47)— 102 
Illinois(80)— 156 
Minnesota— — 28 
Montana— (100)125 
New York— — 44 
Pennsylvania— (88)55 
Texas— — 117 
Other66 (17)97 
(152)(134)811 
Foreign
Australia191 — 160 
China— 234 65 
Germany - Munich— — (39)
Japan - federal171 390 179 
Japan - local130 235 139 
Netherlands236 229 (2,171)
Philippines— — 44 
Romania75 — 95 
United Kingdom156 99 211 
Other39 40 (31)
998 1,227 (1,348)
Total$846 $1,093 $(537)
v3.25.4
Commitments, contingencies and guarantees (Tables)
 12 Months Ended
Dec. 31, 2025
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:
Year ended December 31,
(in thousands)202520242023
Operating lease cost (1)
$9,003 $10,262 $11,045 
Sublease income(2,892)(2,817)(2,281)
Right-of-use asset impairment cost— 3,276 — 
Net lease cost$6,111 $10,721 $8,764 
Supplemental cash flow information related to leases was as follows:
Year ended December 31,
(in thousands)202520242023
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$14,239 $13,737 $12,217 
Right-of-use assets obtained in exchange for operating lease liabilities2,272 4,801 3,943 

Supplemental balance sheet information related to leases was as follows:
December 31, 2025December 31, 2024
Weighted-average remaining lease term (in years) - operating leases2.763.10
Weighted-average discount rate - operating leases6.4%6.3%
Schedule of Maturities of Lease Liabilities [Text Block]
As of December 31, 2025, maturities of operating lease liabilities were as follows:
(in thousands)December 31, 2025
2026$13,381 
20272,995 
20281,301 
2029884 
2030761 
Thereafter2,157 
Total lease payments21,479 
Less: Imputed interest(2,081)
Present value of lease liabilities$19,398 
v3.25.4
Concentrations of risk and geographic information (Tables)
 12 Months Ended
Dec. 31, 2025
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:
Year ended December 31,
(in thousands)
202520242023
Accounts receivable sold$68,456 $88,357 $103,990 
Factoring fees1,266 1,287 1,555 
Schedule of Revenue by Geographic Region
Revenue by geographic region, based on ship-to locations, was as follows:
Year ended December 31,2025 vs 20242024 vs 2023
(in thousands)
202520242023
% Change
% Change
Americas$383,481 $378,934 $469,675 1 %(19)%
Europe, Middle East and Africa (EMEA)190,809 258,976 290,814 (26)(11)
Asia and Pacific (APAC)77,252 163,563 244,970 (53)(33)
Total revenue$651,542 $801,473 $1,005,459 (19)%(20)%
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:
December 31, 2025December 31, 2024
Customer A14%26%
Customer B10%*
Customer C10%*
* Less than 10% of net accounts receivable for the periods indicated.
Sales Revenue [Member]  
Concentration Risk [Line Items]  
Schedules of Customer Concentration by Risk Factor
Third-party customers who represented 10% or more of the Company’s total revenue were as follows:
Year ended December 31,
202520242023
Customer A12%**
Customer B10%**
v3.25.4
Restructuring charges (Tables)
 12 Months Ended
Dec. 31, 2025
Restructuring and Related Activities [Abstract]  
Restructuring and Related Costs [Table Text Block]
Restructuring charges for each period were as follows:
Year ended December 31,
(in thousands)202520242023
Cost of revenue$12 $755 $(90)
Research and development1,430 16,585 687 
Sales and marketing542 5,310 130 
General and administrative2,060 1,762 11 
Total restructuring charges$4,044 $24,412 $738 
v3.25.4
Summary of business and significant accounting policies (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Nov. 20, 2023
Dec. 31, 2025
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Nov. 15, 2025
Nov. 24, 2020
Property, Plant and Equipment [Line Items]                
Operating Lease, Impairment Loss       $ 0 $ 3,276 $ 0    
Contract with Customer, Liability   $ 54,200   54,200 58,300      
Deferred Revenue, Revenue Recognized       55,400 55,800      
Accumulated deficit   (775,094)   (775,094) (681,607)      
Product Warranty Liability [Line Items]                
Gain (Loss) on Extinguishment of Debt $ 3,100     0 0 (3,092)    
Cash and cash equivalents   $ 49,674   $ 49,674 102,811 222,708    
Warranty Period       12 months        
Policy Text Block [Abstract]                
RevenueIncreaseDecrease   (18.70%)            
Gain (Loss) on Extinguishment of Debt $ 3,100     $ 0 0 (3,092)    
Revenues       651,542 801,473 1,005,459    
Cash and cash equivalents   $ 49,674   $ 49,674 102,811 222,708    
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount   67.00%   67.00%        
Cash, Cash Equivalents, and Short-Term Investments   $ 49,674   $ 49,674 102,811      
Market Capitalization, Percentage Increase/Decrease     38.00%          
Goodwill, Impairment Loss       18,600 0 0    
Repayments of Lines of Credit       $ 48,044 0 0    
Market Capitalization Sensitivity   65.00%   65.00%        
Advertising Expense       $ 11,600 33,300 44,100    
Interest Income, Other       3,100 4,700 9,900    
Operating Income (Loss)       (83,341) $ (135,033) $ (75,463)    
2021 Credit Facility [Member]                
Policy Text Block [Abstract]                
Line of Credit Facility, Remaining Borrowing Capacity   $ 0   0        
Line of Credit Facility, Remaining Borrowing Capacity   $ 0   $ 0        
Convertible Senior Notes due 2025 [Member]                
Property, Plant and Equipment [Line Items]                
Debt Instrument             $ 93,800 $ 143,800
Convertible Senior Notes due 2025 [Member]                
Property, Plant and Equipment [Line Items]                
Interest rate               1.25%
Europe [Member]                
Product Warranty Liability [Line Items]                
Warranty Period       24 months        
v3.25.4
Business Acquisitions (Details) - USD ($)
$ in Thousands
Feb. 27, 2024
Dec. 31, 2025
Dec. 31, 2024
Business Combination [Line Items]      
Identifiable intangible assets $ 7,500    
Goodwill 5,900 $ 133,751 $ 152,351
forcite      
Business Combination [Line Items]      
Business Combination, Consideration Transferred $ 14,000    
v3.25.4
Fair value measurements (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Nov. 15, 2025
USD ($)
Dec. 31, 2024
USD ($)
Nov. 24, 2020
USD ($)
Convertible Senior Notes due 2025 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Instrument   $ 93,800   $ 143,800
Level 2 [Member] | Convertible Senior Notes due 2025 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair value of convertible senior notes $ 0   $ 82,500  
Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents 40,120   42,436  
Liabilities, Fair Value Disclosure 6,255   0  
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 40,120   42,436  
Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents 40,120   42,436  
Liabilities, Fair Value Disclosure 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 40,120   42,436  
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  
Liabilities, Fair Value Disclosure 0   0  
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  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents 0   0  
Liabilities, Fair Value Disclosure 6,255   0  
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents $ 0   0  
Measurement Input, Price Volatility        
Fair Value Measurement Inputs and Valuation Techniques [Line Items]        
Warrants and Rights Outstanding, Measurement Input 0.82      
Measurement Input, Risk Free Interest Rate        
Fair Value Measurement Inputs and Valuation Techniques [Line Items]        
Warrants and Rights Outstanding, Measurement Input 0.035      
Measurement Input, Expected Dividend Rate        
Fair Value Measurement Inputs and Valuation Techniques [Line Items]        
Warrants and Rights Outstanding, Measurement Input 0      
Measurement Input, Expected Term        
Fair Value Measurement Inputs and Valuation Techniques [Line Items]        
Warrants and Rights Outstanding, Measurement Input 2.06      
Warrant        
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]        
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability Value $ 6,255   0  
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Issuances 3,218      
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Mark To Market Adjustment 3,037      
Warrant | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Liabilities, Fair Value Disclosure 6,255   0  
Warrant | Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Liabilities, Fair Value Disclosure 0   0  
Warrant | Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Liabilities, Fair Value Disclosure 0   0  
Warrant | Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Liabilities, Fair Value Disclosure $ 6,255   $ 0  
v3.25.4
Condensed consolidated financial statement details - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash and Cash Equivalents [Line Items]      
Cash $ 9,600 $ 60,400  
Cash and cash equivalents $ 49,674 $ 102,811 $ 222,708
v3.25.4
Condensed consolidated financial statement details - Inventory (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Components $ 2,554 $ 19,407
Finished goods 75,877 101,309
Total inventory $ 78,431 $ 120,716
v3.25.4
Condensed consolidated financial statement details - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Gross property and equipment $ 81,631 $ 86,741  
Less: Accumulated depreciation and amortization (75,728) (78,045)  
Property and equipment, net 5,903 8,696  
Depreciation 5,200 4,900 $ 6,200
Leasehold Improvements [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 24,014 23,996  
Production, engineering and other equipment [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 37,265 38,018  
Tooling [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 7,208 6,810  
Computers and software [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 8,064 12,574  
Furniture and office equipment [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 3,524 3,763  
Tradeshow Equipment and other [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 1,424 1,424  
Construction in Progress [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment $ 132 $ 156  
v3.25.4
Condensed consolidated financial statement details - Intangible Assets and Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Feb. 27, 2024
Finite-Lived Intangible Assets, Net [Abstract]        
Finite-Lived Intangible Assets, Gross $ 58,566 $ 58,566    
Finite-Lived Intangible Assets, Accumulated Amortization (54,503) (52,628)    
Finite-Lived Intangible Assets, Net, Total 4,063 5,938    
Intangible Assets, Gross (Excluding Goodwill) 58,581 58,581    
Intangible assets, net 4,078 5,953    
Indefinite-lived Intangible Assets [Roll Forward]        
Amortization of intangible assets 1,900 1,600 $ 0  
Goodwill 133,751 152,351   $ 5,900
Indefinite-Lived Trademarks $ 15 $ 15    
v3.25.4
Condensed consolidated financial statement details - Future Amortization (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Finite-Lived Intangible Assets, Net $ 4,063 $ 5,938
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Assets, Net 4,063 $ 5,938
Intangibles, Total    
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Finite-Lived Intangible Asset, Expected Amortization, Year Two 1,875  
Finite-Lived Intangible Assets [Line Items]    
Next Rolling 12 Months 1,875  
Finite-Lived Intangible Asset, Expected Amortization, Year Two 1,875  
Finite-Lived Intangible Assets, Amortization Expense, Year Three 313  
Finite-Lived Intangible Asset, Expected Amortization, Year Four 0  
Finite-Lived Intangible Asset, Expected Amortization, Year Five $ 0  
v3.25.4
Condensed consolidated financial statement details - Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Feb. 27, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]        
Goodwill $ 133,751 $ 152,351   $ 5,900
Goodwill, Impairment Loss $ (18,600) $ 0 $ 0  
v3.25.4
Condensed consolidated financial statement details - Other Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
POP Displays $ 9,986 $ 14,715  
Deposits and other 9,977 7,550  
Other long-term assets 24,622 28,983  
Amortization of intangible assets 1,900 1,600 $ 0
Amortization 7,000 5,100 2,000
Intangible Assets, Net (Excluding Goodwill) 4,078 5,953  
Deferred Income Taxes and Other Assets, Noncurrent 581 765  
Segment, Expenditure, Addition to Long-Lived Assets $ 2,300 $ 13,600 $ 6,500
v3.25.4
Condensed consolidated financial statement details - Product Warranty (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Beginning balances $ 6,207 $ 8,759 $ 8,319
Charged to cost of revenue 9,791 10,822 19,724
Settlements of warranty claims (11,405) (13,374) (19,284)
Ending balances 4,593 6,207 $ 8,759
Product Warranty Accrual, Noncurrent 300 300  
Product Warranty Accrual, Current $ 4,315 $ 5,930  
v3.25.4
Condensed consolidated financial statement details - Accrued Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Product Warranty Accrual, Current $ 4,315 $ 5,930
Employee related liabilities 8,255 7,401
Accrued sales incentives 38,259 53,997
Other Accounts Payable and Accrued Liabilities 30,274 26,060
Customer Refund Liability, Current 3,293 4,913
Customer deposits 1,216 2,694
Purchase Commitment, Remaining Minimum Amount Committed 1,343 1,504
Inventory received 3,423 2,010
Other 5,478 6,260
Accrued expenses and other current liabilities $ 95,856 $ 110,769
v3.25.4
Financing Arrangements (Details)
 3 Months Ended 12 Months Ended
Nov. 20, 2023
USD ($)
Nov. 24, 2020
USD ($)
$ / shares
Dec. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Nov. 15, 2025
USD ($)
Aug. 04, 2025
USD ($)
Line of Credit Facility [Line Items]                
Operating Lease, Impairment Loss       $ 0 $ 3,276,000 $ 0    
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     0 0 (3,092,000)    
Debt Instrument, Repurchase Amount 46,300,000              
Debt Instrument, Repurchased Face Amount 49,400,000              
Short-term Debt     $ 19,598,000 19,598,000 93,208,000      
Letters of Credit Outstanding, Amount     9,200,000 9,200,000        
Repayments of Lines of Credit       48,044,000 0 0    
Warrants and Rights Outstanding               $ 3,200,000
Repayments of Convertible Debt $ 50,000,000.0              
Convertible Senior Notes due 2025 [Member]                
Line of Credit Facility [Line Items]                
Debt Instrument   $ 143,800,000         $ 93,800,000  
Convertible Debt Principal Amount Conversion     $ 0 $ 0 $ 93,800,000      
Effective rate     0.00% 0.00%        
Interest Expense, Debt       $ 1,000,000.0        
Amortization of Debt Issuance Costs       500,000        
Short-term Debt     $ 0 0        
2021 Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Credit agreement, current borrowing capacity     50,000,000.0 50,000,000.0        
Minimum Fixed Charge Coverage Ratio, minimum balance       10,000,000.0        
Line of Credit Facility, Unused Capacity, Qualified Cash       10,000,000.0        
2021 Credit Facility [Member] | December 1, 2025 - Thereafter                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount       40,000,000.0        
2021 Credit Facility [Member] | Feb 2026 to Borrowing Base Conversion Date                
Line of Credit Facility [Line Items]                
Credit agreement, current borrowing capacity     $ 35,000,000.0 $ 35,000,000.0        
Debt Instrument, Covenant Compliance, Asset Coverage Ratio     1.50 1.50        
2021 Credit Facility [Member] | Thereafter                
Line of Credit Facility [Line Items]                
Credit agreement, current borrowing capacity     $ 50,000,000.0 $ 50,000,000.0        
2021 Credit Facility [Member] | Ending December 31, 2025                
Line of Credit Facility [Line Items]                
Debt Instrument, Covenant Compliance, Asset Coverage Ratio     1.25 1.25        
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount       $ 10,000,000.0        
2021 Credit Facility [Member] | Feb 2026 to June 30, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount       25,000,000.0        
2021 Credit Facility [Member] | Fiscal month ending July 31, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount       30,000,000.0        
2021 Credit Facility [Member] | Fiscal month ending August 31, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount       35,000,000.0        
2025 Term Loan [Member]                
Line of Credit Facility [Line Items]                
Debt Instrument     $ 49,800,000 49,800,000        
Debt Issuance Costs, Net     1,900,000 $ 1,900,000        
Interest Expense, Debt     2,400,000          
Amortization of Debt Issuance Costs     $ 400,000          
Class of Warrant or Right, Outstanding | shares     11,076,968 11,076,968        
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares     $ 0.75 $ 0.75        
Debt Instrument, Unamortized Discount     $ 3,600,000 $ 3,600,000        
Amortization of Debt Discount (Premium)     700,000          
Line of Credit Facility, Fair Value of Amount Outstanding     $ 44,300,000 $ 44,300,000        
2025 Term Loan [Member] | Fiscal quarter ending December 31, 2025                
Line of Credit Facility [Line Items]                
Debt Instrument, Covenant Compliance, Asset Coverage Ratio     1.05 1.05        
Line of Credit Facility, Unused Capacity, Minimum AEBITDA Requirement, Amount       $ (5,000,000.0)        
2025 Term Loan [Member] | Four consecutive fiscal quarters ending March 31, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum AEBITDA Requirement, Amount       0        
2025 Term Loan [Member] | Four consecutive fiscal quarters ending June 30, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum AEBITDA Requirement, Amount       0        
2025 Term Loan [Member] | Four consecutive fiscal quarters ending Sept 30, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum AEBITDA Requirement, Amount       (20,000,000.0)        
2025 Term Loan [Member] | Four consecutive fiscal quarters ending Dec 31, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum AEBITDA Requirement, Amount       $ (30,000,000.0)        
2025 Term Loan [Member] | Thereafter                
Line of Credit Facility [Line Items]                
Debt Instrument, Covenant Compliance, Asset Coverage Ratio     1.15 1.15        
2025 Term Loan [Member] | Four consecutive fiscal quarters ending Sept 30, 2027                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum AEBITDA Requirement, Amount       $ (35,000,000.0)        
2025 Term Loan [Member] | Four consecutive fiscal quarters ending Dec 31, 2027                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum AEBITDA Requirement, Amount       (40,000,000.0)        
2025 Term Loan [Member] | Fiscal quarters ending March 31, 2026 and June 30, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount       25,000,000.0        
2025 Term Loan [Member] | Fiscal month ending July 31, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount       30,000,000.0        
2025 Term Loan [Member] | Fiscal month ending August 31, 2026                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount       35,000,000.0        
2025 Term Loan [Member] | Fiscal months thereafter                
Line of Credit Facility [Line Items]                
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount       40,000,000.0        
Convertible Senior Notes due 2025 [Member]                
Line of Credit Facility [Line Items]                
Interest rate   1.25%            
Debt Instrument, Convertible, Conversion Price | $ / shares   $ 9.3285            
Effective rate         1.90%      
Interest Expense, Debt         $ 1,200,000 1,700,000    
Amortization of Debt Issuance Costs         600,000 $ 900,000    
Short-term Debt         93,200,000      
Convertible Senior Notes due 2025 [Member] | Long-term Debt [Member]                
Line of Credit Facility [Line Items]                
Debt Issuance Costs, Net         $ 600,000      
Convertible Senior Notes due 2025 [Member] | Short-term Debt                
Line of Credit Facility [Line Items]                
Debt Issuance Costs, Net     $ 0 $ 0        
Base Rate [Member] | 2025 Term Loan [Member]                
Line of Credit Facility [Line Items]                
Basis Spread on Variable Rate       6.50%        
Base Rate [Member] | Minimum [Member] | 2021 Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Basis Spread on Variable Rate       2.50%        
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       3.50%        
Secured Overnight Financing Rate (SOFR) [Member] | 2025 Term Loan [Member]                
Line of Credit Facility [Line Items]                
Basis Spread on Variable Rate       7.50%        
v3.25.4
Stockholders' equity (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
shares
Dec. 31, 2024
USD ($)
shares
Dec. 31, 2023
USD ($)
Feb. 09, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jan. 27, 2022
USD ($)
Class of Stock [Line Items]            
Stock options outstanding (shares) 1,444,000 2,327,000        
Common stock available for future grants (shares) 31,927,000          
Stockholders' Equity Attributable to Parent | $ $ 76,550,000 $ 151,689,000 $ 555,846,000   $ 611,559,000  
Stock Repurchase Program, Authorized Amount | $       $ 40,000,000.0   $ 100,000,000.0
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ $ 60,400,000          
Stockholders' Equity Note, Outstanding Shares Less than 10% of Aggregate Shares Outstanding, Conversion Ratio 1          
Treasury Stock, Common            
Class of Stock [Line Items]            
Stockholders' Equity Attributable to Parent | $ $ (193,231,000) $ (193,231,000) $ (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) 136,056,000 129,196,000        
Common Stock, Voting Rights, Number 1          
Common Stock, Shares, Issued 136,056,000 129,196,000        
Common Stock, Voting Rights one          
Common Stock, Conversion Ratio 1          
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        
Common Stock, Voting Rights ten          
Restricted Stock Units (RSUs) [Member]            
Class of Stock [Line Items]            
Restricted stock units outstanding (shares) 9,915,000 11,243,000        
Performance Shares [Member]            
Class of Stock [Line Items]            
Restricted stock units outstanding (shares) 47,000 286,000        
Performance stock units outstanding (shares) 2,103,000          
Common Stock            
Class of Stock [Line Items]            
Common stock available for future grants (shares) 18,465,000          
v3.25.4
Employee benefit plans - Narrative (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
ESPP weighted average purchase price of shares purchased (usd per share)   $ 0.71 $ 1.56 $ 4.10
Unearned stock-based compensation, expected recognition period 2 years 25 days      
Share-based Payment Arrangement, Expense, Tax Benefit   $ 0 $ 0 $ 9,300
Stock Issued During Period, Shares, Employee Stock Purchase Plans   1,000,000.0 1,400,000 900,000
Stock-based compensation   $ 19,542 $ 29,132 $ 41,479
Expected Term   0.5 0.5 0.5
Interest Rate, Maximum     5.30%  
Defined Contribution Plan, Minimum Annual Contributions Per Employee, Percent   1    
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent   100.00%    
Defined Benefit Plan, Plan Assets, Contributions by Employer   $ 1,000 $ 1,200 $ 900
Deferred Bonus        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Stock-based compensation   $ 2,100 $ 0 $ 0
RSUs [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares granted (shares)   6,963,000    
Weighted average price of shares granted (usd per share)   $ 0.83 $ 1.76 $ 5.13
Performance Shares [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares granted (shares)   2,208,000    
Weighted average price of shares granted (usd per share)   $ 0.63    
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%    
Volatility Rate, Minimum   70.00% 57.00% 39.00%
Volatility Rate, Maximum   96.00% 59.00% 42.00%
Interest Rate, Minimum   4.10% 5.00% 5.00%
Interest Rate, Maximum   4.30%   5.60%
Dividend yield   0.00% 0.00% 0.00%
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   $ 12,500    
Equity Option [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Volatility Rate, Minimum       59.00%
Volatility Rate, Maximum       60.00%
Interest Rate, Minimum       3.50%
Interest Rate, Maximum       4.50%
Dividend yield       0.00%
2024 Equity Incentive Plans | Stock Options [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Expiration Period   10 years    
2024 Equity Incentive Plans | Performance Shares [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award Vesting Period   3 years    
2024 Equity Incentive Plans | Minimum [Member] | Stock Options [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award Vesting Period   1 year    
2024 Equity Incentive Plans | Minimum [Member] | RSUs [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award Vesting Period   2 years    
2024 Equity Incentive Plans | Maximum [Member] | Stock Options [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award Vesting Period   4 years    
2024 Equity Incentive Plans | Maximum [Member] | RSUs [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Award Vesting Period   4 years    
v3.25.4
Employee benefit plans - Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Shares (in thousands)        
Outstanding at beginning of period (shares)   2,327    
Granted (shares)   0    
Exercised (shares)   0    
Forfeited/Cancelled (shares)   (883)    
Outstanding at end of period (shares) 2,327 1,444 2,327  
Weighted-average exercise price        
Outstanding at beginning of period (in dollars per share)   $ 7.43    
Granted (usd per share)   0    
Exercised (usd per share)   0    
Outstanding at end of period (in dollars per share) $ 7.43 $ 7.06 $ 7.43  
Aggregate intrinsic value (in thousands) $ 0 $ 0 $ 0  
Vested and Expected to Vest (shares)   1,444    
Vested and Expected to Vest - Weighted Average Exercise Price (in dollars per share)   $ 7.06    
Vested and Expected to Vest- Weighted Average Remaining Contractual Term   3 years 2 months 26 days    
Vested and Expected to Vest - Aggregate Intrinsic Value   $ 0    
Exercisable (shares)   1,436    
Exercisable - Weighted average exercise price (in dollars per share)   $ 7.05    
Exercisable - Weighted Average Remaining Contractual Term   3 years 2 months 19 days    
Exercisable - Aggregate intrinsic value   $ 0    
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price   $ 8.03    
Weighted Average Remaining Contractual Term (in years) 4 years 7 months 2 days 3 years 2 months 26 days    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 0 $ 0 $ 2.14
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term       6 years 1 month 6 days
v3.25.4
Employee benefit plans - Restricted Stock Units Activity (Details) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
RSUs [Member]      
Shares (in thousands)      
Non-vested shares at beginning of period (shares) 11,243    
Granted (shares) 6,963    
Vested (shares) (6,171)    
Forfeited (shares) (2,120)    
Non-vested shares at end of period (shares) 9,915 11,243  
Weighted-average grant date fair value      
Non-vested shares at beginning of period (in dollars per share) $ 3.38    
Weighted average price of shares granted (usd per share) 0.83 $ 1.76 $ 5.13
Weighted average price of shares vested (usd per share) 3.32    
Weighted average price of shares forfeited (usd per share) 2.52    
Non-vested shares at end of period (in dollars per share) $ 1.81 $ 3.38  
Performance Shares [Member]      
Shares (in thousands)      
Non-vested shares at beginning of period (shares) 286    
Granted (shares) 2,208    
Vested (shares) (221)    
Forfeited (shares) (2,226)    
Non-vested shares at end of period (shares) 47 286  
Weighted-average grant date fair value      
Non-vested shares at beginning of period (in dollars per share) $ 6.06    
Weighted average price of shares granted (usd per share) 0.63    
Weighted average price of shares vested (usd per share) 6.14    
Weighted average price of shares forfeited (usd per share) 0.67    
Non-vested shares at end of period (in dollars per share) $ 5.79 $ 6.06  
v3.25.4
Employee benefit plans - Allocation of Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 19,542 $ 29,132 $ 41,479
Share-based Payment Arrangement, Expense, Tax Benefit 0 0 9,300
Deferred Bonus      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 2,100 0 0
Cost of Revenue [Member]      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 946 1,343 1,955
Research and Development [Member]      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 10,393 14,411 19,062
Selling and Marketing Expense [Member]      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 3,533 5,804 8,736
General and Administrative [Member]      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 4,670 $ 7,574 $ 11,726
v3.25.4
Employee benefit plans Performance Stock Units activity (Details) - USD ($)
$ / shares in Units, shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value $ 500,000 $ 800,000 $ 1,400,000
Performance Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock units outstanding (shares) 47 286  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 5.79 $ 6.06  
Granted (shares) 2,208    
Weighted average price of shares granted (usd per share) $ 0.63    
Vested (shares) (221)    
Weighted average price of shares vested (usd per share) $ 6.14    
Forfeited (shares) (2,226)    
Weighted average price of shares forfeited (usd per share) $ 0.67    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value $ 0.63 $ 1.70 5.79
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 1,400,000 $ 3,500,000 $ 3,700,000
Restricted Stock Units (RSUs) [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock units outstanding (shares) 9,915 11,243  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 1.81 $ 3.38  
Granted (shares) 6,963    
Weighted average price of shares granted (usd per share) $ 0.83 $ 1.76 $ 5.13
Vested (shares) (6,171)    
Weighted average price of shares vested (usd per share) $ 3.32    
Forfeited (shares) (2,120)    
Weighted average price of shares forfeited (usd per share) $ 2.52    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 20,500,000 $ 30,600,000 $ 34,500,000
v3.25.4
Net loss per share Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
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]    
Interest rate   1.25%
Debt Instrument, Convertible, Conversion Price | $ / shares   $ 9.3285
v3.25.4
Net loss per share - Basic and Diluted Net Income per Share Attributable to Common Stockholders (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator:      
Net loss $ (93,487) $ (432,311) $ (53,183)
Denominator:      
Earnings Per Share, Diluted $ (0.59) $ (2.82) $ (0.35)
Weighted Average Number of Shares Outstanding, Diluted 158,579 153,113 153,348
Net Income (Loss) Attributable to Parent, Diluted     $ (53,183)
v3.25.4
Net loss per share - Antidilutive Securities Excluded from Computation of Net Income per Share (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (shares) 25,299 26,257 30,647
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (shares) 25,299 26,257 30,647
Convertible Debt Securities      
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (shares) 8,783 10,050 14,808
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (shares) 8,783 10,050 14,808
Share-based Payment Arrangement      
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (shares) 14,396 16,207 15,839
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (shares) 14,396 16,207 15,839
Warrant      
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (shares) 2,120 0 0
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (shares) 2,120 0 0
v3.25.4
Income taxes - Income Tax Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Current Federal Tax Expense (Benefit) $ 1 $ 1 $ 3
Current State and Local Tax Expense (Benefit) 72 (28) 162
Current Foreign Tax Expense (Benefit) 1,689 2,478 3,176
Current Income Tax Expense (Benefit) 1,762 2,451 3,341
Deferred Federal Income Tax Expense (Benefit) 87 222,087 (14,018)
Deferred State and Local Income Tax Expense (Benefit) 0 74,886 (3,828)
Deferred Foreign Income Tax Expense (Benefit) 190 (202) (45)
Deferred Income Tax Expense (Benefit) 277 296,771 (17,891)
Total Federal Income Tax Expense (Benefit) 88 222,088 (14,015)
Total State Income Tax Expense (Benefit) 72 74,858 (3,666)
Total Foreign Income Tax Expense (Benefit) 1,879 2,276 3,131
Income tax (benefit) expense 2,039 299,222 (14,550)
Income (Loss) from Continuing Operations before Income Taxes, Foreign 8,435 9,106 11,781
Income (Loss) from Continuing Operations before Income Taxes, Domestic $ (99,883) $ (142,195) $ (79,514)
v3.25.4
Income taxes - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]        
Income tax (benefit) expense $ 2,039 $ 299,222 $ (14,550)  
Loss before income taxes (91,448) (133,089) (67,733)  
Current Foreign Tax Expense (Benefit) 1,689 2,478 3,176  
Unrecognized Tax Benefits 29,661 27,019 25,836 $ 23,414
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions 5,815 4,665 4,948  
Unrecognized Tax Benefits that Would Impact Effective Tax Rate 15,200 11,600 10,900  
Valuation allowance 344,611 327,367    
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions $ (3,173) $ (3,482) $ (2,526)  
v3.25.4
Income Taxes - Operating Loss Carryforwards (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Operating Loss Carryforwards [Line Items]  
Deferred Tax Assets, Operating Loss Carryforwards, Domestic $ 752.5
Domestic Tax Authority [Member]  
Operating Loss Carryforwards [Line Items]  
Tax Credit Carryforward, Amount 58.1
california [Domain]  
Operating Loss Carryforwards [Line Items]  
Tax Credit Carryforward, Amount 58.4
california [Domain]  
Operating Loss Carryforwards [Line Items]  
Deferred Tax Assets, Operating Loss Carryforwards, State and Local 261.8
States Other than CA [Domain]  
Operating Loss Carryforwards [Line Items]  
Deferred Tax Assets, Operating Loss Carryforwards, State and Local $ 283.5
v3.25.4
Income taxes - Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets:    
Net operating loss carryforwards $ 190,968 $ 110,724
Tax credit carryforwards 104,319 101,895
Stock-based compensation 3,163 4,531
Allowance for returns 1,098 1,706
Intangible assets 2,536 1,873
Deferred Tax Assets, Property, Plant and Equipment 1,455 1,177
Deferred Tax Assets, Operating lease liabilities 4,532 6,784
Capitalized research and development costs 19,697 80,310
Accruals and reserves 19,361 21,944
Total deferred tax assets 347,129 330,944
Valuation allowance (344,611) (327,367)
Total deferred tax assets, net of valuation allowance 2,518 3,577
Deferred Tax Liabilities Operating Lease Liability (2,635) (3,424)
Deferred Tax Liabilities, Gross (2,635) (3,424)
Deferred Income Tax Assets, Net $ (117) $ (153)
v3.25.4
Income taxes - Reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]      
Tax at federal statutory rate $ (19,204) $ (27,949) $ (14,224)
Tax at federal statutory rate 21.00% 21.00% 21.00%
State taxes, net of federal benefits $ (415) $ 74,864 $ (3,699)
State taxes, net of federal benefits 0.50% (56.30%) 5.50%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount $ (873) $ (631) $ (881)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent 1.00% 0.50% 1.30%
Effective Income Tax Rate Reconciliation, Cross-Border Tax Effect, Amount $ 1,361 $ 1,546 $ 2,123
Effective Income Tax Rate Reconciliation, Cross-Border Tax Effect, Percent (1.50%) (1.20%) (3.10%)
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount $ (1,317) $ (3,569) $ (3,736)
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Percent 1.40% 2.70% 5.50%
Change in valuation allowance $ 14,356 $ 247,750 $ 0
Change in valuation allowance (15.70%) (186.10%) 0.00%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-Based Payment Arrangement, Amount $ 3,722 $ 5,132 $ 3,125
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Share-Based Payment Arrangement, Percent (4.10%) (3.90%) (4.60%)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Amount $ 2,537 $ 0 $ 0
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Impairment Losses, Percent (2.80%) 0.00% 0.00%
Unrecognized Tax Benefits, Period Increase (Decrease) $ 1,598 $ 1,397 $ 1,670
Unrecognized Tax Benefits that Would Impact Effective Tax Rate, Percentage (1.70%) (1.00%) (2.40%)
Income tax (benefit) expense $ 2,039 $ 299,222 $ (14,550)
Effective tax rate (2.20%) (224.80%) 21.50%
FRANCE      
Effective Income Tax Rate Reconciliation [Line Items]      
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ 363 $ (10) $ 156
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent (0.40%) 0.00% (0.30%)
Foreign Tax Jurisdiction, Other      
Effective Income Tax Rate Reconciliation [Line Items]      
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ (164) $ 184 $ 260
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent 0.20% (0.10%) (0.40%)
Geographic Distribution, Domestic      
Effective Income Tax Rate Reconciliation [Line Items]      
Effective Income Tax Rate Reconciliation, Other Adjustments, Amount $ 75 $ 508 $ 656
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent (0.10%) (0.40%) (1.00%)
v3.25.4
Income taxes - Income Tax Paid (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Federal, after Refund Received $ 0 $ 0 $ 0
Income Tax Paid, State and Local, after Refund Received (152) (134) 811
Income Tax Paid, Foreign, after Refund Received 998 1,227 (1,348)
Income Taxes Paid, Net 846 1,093 (537)
ARKANSAS      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, State and Local, after Refund Received (91) 71 87
CALIFORNIA      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, State and Local, after Refund Received (47) 0 102
ILLINOIS      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, State and Local, after Refund Received (80) 0 156
MINNESOTA      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, State and Local, after Refund Received 0 0 28
MONTANA      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, State and Local, after Refund Received 0 (100) 125
NEW YORK      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, State and Local, after Refund Received 0 0 44
PENNSYLVANIA      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, State and Local, after Refund Received 0 (88) 55
TEXAS      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, State and Local, after Refund Received 0 0 117
State and Local Tax Jurisdiction, Other      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, State and Local, after Refund Received 66 (17) 97
AUSTRALIA      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 191 0 160
CHINA      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 0 234 65
GERMANY      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 0 0 (39)
Japan - Federal      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 171 390 179
Japan - Local      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 130 235 139
NETHERLANDS      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 236 229 (2,171)
PHILIPPINES      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 0 0 44
ROMANIA      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 75 0 95
UNITED KINGDOM      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received 156 99 211
Foreign Tax Jurisdiction, Other      
Income Tax Paid, by Individual Jurisdiction [Line Items]      
Income Tax Paid, Foreign, after Refund Received $ 39 $ 40 $ (31)
v3.25.4
Related party transactions (Details) - Chief Executive Officer (CEO) [Member]
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
$ / shares
shares
Related Party Transaction [Line Items]  
Related Party Transaction, Purchases from Related Party | $ $ 2
Common stock, par value (in dollars per share) $ 0.0001
Common Stock, Shares, Issued | shares 1,129,944
Shares Issued, Price Per Share $ 1.77
v3.25.4
Commitments, contingencies and guarantees (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Long-term Purchase Commitment [Line Items]      
Operating Lease, Cost $ 9,003 $ 10,262 $ 11,045
Operating Lease, Payments 14,239 13,737 12,217
Finance Lease, Liability, to be Paid, Year Two 2,995    
Finance Lease, Liability, to be Paid, Year Three 1,301    
Finance Lease, Liability, to be Paid, Year Four 884    
Finance Lease, Liability, to be Paid, Year Five 761    
Lessee, Operating Lease, Liability, Payments, Due after Year Five 2,157    
Lessee, Operating Lease, Liability, Payments, Due (21,479)    
us-gaap_Lessee Operating Lease Liability Undiscounted Excess Amount (2,081)    
Operating Lease, Liability 19,398    
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability $ 2,272 $ 4,801 3,943
Operating Lease, Weighted Average Remaining Lease Term 2 years 9 months 3 days 3 years 1 month 6 days  
Operating Lease, Weighted Average Discount Rate, Percent 6.40% 6.30%  
Sublease Income $ (2,892) $ (2,817) (2,281)
Operating Lease, Impairment Loss 0 3,276 0
Lease, Cost 6,111 $ 10,721 $ 8,764
Other Commitment 86,573    
Long-Term Debt, Maturity, after Year Five 0    
Long-Term Debt, Maturity, Year Five 0    
Long-Term Debt, Maturity, Year Four 0    
Long-Term Debt, Maturity, Year Three 44,933    
Long-Term Debt, Maturity, Year Two 11,939    
Long-term debt 66,422    
Contractual Obligation, to be Paid, after Year Five 0    
Contractual Obligation, to be Paid, Year Five 0    
Contractual Obligation, to be Paid, Year Four 0    
Contractual Obligation, to be Paid, Year Three 47,292    
Contractual Obligation, to be Paid, Year Two 34,449    
Contractual Obligation, to be Paid, Year One 71,254    
Other Commitments [Line Items]      
Other Commitment 86,573    
Finance Lease, Liability, to be Paid, Year One 13,381    
Loss Contingency, Damages Awarded, Value 8,200    
Other Commitment, to be Paid, Year One 61,704    
Contractual Obligation 152,995    
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months 9,550    
Other Commitment, to be Paid, Year Two 22,510    
Other Commitment, to be Paid, Year Three 2,359    
Other Commitment, to be Paid, Year Four 0    
Other Commitment, to be Paid, Year Five 0    
Other Commitment, to be Paid, after Year Five $ 0    
Customer A [Member] | Sales Revenue [Member] | Customer Concentration Risk [Member]      
Long-term Purchase Commitment [Line Items]      
Concentration risk 12.00%    
Customer B (Retailer) (Member) | Sales Revenue [Member] | Customer Concentration Risk [Member]      
Long-term Purchase Commitment [Line Items]      
Concentration risk 10.00%    
v3.25.4
Concentrations of risk and geographic information - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenue, Major Customer [Line Items]      
Revenues $ 651,542 $ 801,473 $ 1,005,459
United States [Member]      
Revenue, Major Customer [Line Items]      
Revenues 310,200 291,300 $ 388,000
Non-US      
Revenue, Major Customer [Line Items]      
Assets, Noncurrent $ 3,100 $ 3,500  
v3.25.4
Concentrations of risk and geographic information - Schedule of Customer Concentration by Risk Factor (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Concentration Risk [Line Items]      
Accounts receivable sold $ 68,456 $ 88,357 $ 103,990
Factoring fees $ 1,266 $ 1,287 $ 1,555
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer A [Member]      
Concentration Risk [Line Items]      
Concentration risk 14.00% 26.00%  
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer B (Retailer) (Member)      
Concentration Risk [Line Items]      
Concentration risk 10.00%    
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer C (Retailer)      
Concentration Risk [Line Items]      
Concentration risk 10.00%    
Customer Concentration Risk [Member] | Sales Revenue [Member] | Customer A [Member]      
Concentration Risk [Line Items]      
Concentration risk 12.00%    
Customer Concentration Risk [Member] | Sales Revenue [Member] | Customer B (Retailer) (Member)      
Concentration Risk [Line Items]      
Concentration risk 10.00%    
v3.25.4
Concentrations of risk and geographic information - Schedule of Revenue by Geographic Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Revenues $ 651,542 $ 801,473 $ 1,005,459
United States [Member]      
Segment Reporting Information [Line Items]      
Revenues 310,200 291,300 388,000
Americas [Member]      
Segment Reporting Information [Line Items]      
Revenues 383,481 378,934 469,675
Europe, Middle East and Africa [Member]      
Segment Reporting Information [Line Items]      
Revenues 190,809 258,976 290,814
Asia and Pacific Area Countries [Member]      
Segment Reporting Information [Line Items]      
Revenues $ 77,252 $ 163,563 $ 244,970
v3.25.4
Restructuring charges - Restructuring Costs (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Cost and Reserve [Line Items]        
Restructuring Charges   $ 4,044 $ 24,412 $ 738
Third quarter 2024 restructuring        
Restructuring Cost and Reserve [Line Items]        
Restructuring Charges $ 18,700      
Cost of Revenue [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Charges   $ 12 $ 755 $ (90)
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]   Cost of revenue Cost of revenue Cost of revenue
Research and Development [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Charges   $ 1,430 $ 16,585 $ 687
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]   Operating Expenses Operating Expenses Operating Expenses
Selling and Marketing Expense [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Charges   $ 542 $ 5,310 $ 130
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]   Sales and marketing Sales and marketing Sales and marketing
General and Administrative [Member]        
Restructuring Cost and Reserve [Line Items]        
Restructuring Charges   $ 2,060 $ 1,762 $ 11
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration]   General and administrative General and administrative General and administrative
v3.25.4
Restructuring charges - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Sep. 30, 2025
Dec. 31, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Restructuring Reserve [Roll Forward]          
Restructuring charges     $ 4,044 $ 24,412 $ 738
First quarter 2024 restructuring          
Restructuring Cost and Reserve [Line Items]          
Expected percent of positions eliminated   4.00%      
Severance Costs   $ 2,300      
Restructuring Costs and Asset Impairment Charges   600      
First quarter 2024 restructuring | Cease of use impairment charge          
Restructuring Cost and Reserve [Line Items]          
Restructuring Costs and Asset Impairment Charges   3,300      
Third quarter 2024 restructuring          
Restructuring Cost and Reserve [Line Items]          
Expected percent of positions eliminated 25.00%        
Severance Costs $ 12,700        
Restructuring Reserve [Roll Forward]          
Restructuring liability Start of Period     8,573    
Cash paid     (4,254)    
Non-cash settlements     (319)    
Restructuring liability End of Period   8,573 4,000 8,573  
Restructuring charges 18,700        
Third quarter 2024 restructuring | Employee Severance and Pay Related Costs [Member]          
Restructuring Reserve [Roll Forward]          
Restructuring liability Start of Period     2,535    
Cash paid     (2,216)    
Non-cash settlements     (319)    
Restructuring liability End of Period   2,535 0 2,535  
Third quarter 2024 restructuring | Other Restructuring [Member]          
Restructuring Reserve [Roll Forward]          
Cash paid     (2,038)    
Non-cash settlements     0    
Third quarter 2024 restructuring | Contract Termination          
Restructuring Reserve [Roll Forward]          
Restructuring liability Start of Period     6,038    
Restructuring liability End of Period   $ 6,038 $ 4,000 $ 6,038  
Restructuring charges $ 6,000        
v3.25.4
Subsequent Events (Details) - USD ($)
$ / shares in Units, $ in Millions
Feb. 27, 2026
Nov. 24, 2020
Convertible Senior Notes due 2025 [Member]    
Subsequent Event [Line Items]    
Debt Instrument, Convertible, Conversion Price   $ 9.3285
Interest rate   1.25%
Subsequent Event [Member] | Convertible Debentures    
Subsequent Event [Line Items]    
Proceeds from Issuance of Private Placement $ 25  
Potential Private Placement - Prior to Reg Statement 5  
Potential Private Placement - Following Closing Conditions 20  
Convertible Debt $ 50  
Common stock, par value (in dollars per share) $ 0.0001  
Redemption Premium Percentage 7.00%  
Convertible Debentures Issue Discount 3.00%  
Subsequent Event [Member] | Convertible Debentures | Minimum [Member]    
Subsequent Event [Line Items]    
Debt Instrument, Convertible, Conversion Price $ 0.1736  
Interest rate 0.00%  
Subsequent Event [Member] | Convertible Debentures | Maximum [Member]    
Subsequent Event [Line Items]    
Debt Instrument, Convertible, Conversion Price $ 1.1453  
Excess Stock, Shares Authorized 47,650,000  
Interest rate 18.00%  
Subsequent Event [Member] | Convertible Debentures | Median    
Subsequent Event [Line Items]    
Interest rate 5.00%