GOPRO, INC., 10-K filed on 3/17/2025
Annual Report
v3.25.1
Cover - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Feb. 28, 2025
Jun. 30, 2024
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, 2024    
Document Transition Report false    
Entity File Number 001-36514    
Document Fiscal Year Focus 2024    
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 Voluntary Filers No    
ICFR Auditor Attestation Flag true    
Document Annual Report true    
Entity Small Business false    
Entity Public Float     $ 178,616
Current Fiscal Year End Date --12-31    
Entity Well-known Seasoned Issuer No    
Document Financial Statement Error Correction [Flag] false    
Common Class A [Member]      
Class of Stock [Line Items]      
Entity Common Stock, Shares Outstanding   131,169,181  
Common Class B [Member]      
Class of Stock [Line Items]      
Entity Common Stock, Shares Outstanding   26,258,546  
v3.25.1
Audit Information - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Audit Information [Abstract]      
Auditor Name PricewaterhouseCoopers LLP    
Auditor Location San Jose, California    
Auditor Firm ID 238    
Revenues $ 801,473 $ 1,005,459 $ 1,093,541
v3.25.1
Condensed Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Preferred Stock, par value (usd per share) $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized (shares) 5,000,000 5,000,000
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Treasury Stock, Value $ 193,231,000 $ 193,231,000
Common Stocks, Including Additional Paid in Capital 1,026,527,000 998,373,000
Preferred Stock, Value, Outstanding $ 0 $ 0
Treasury Stock, Common, Shares 26,608,000 26,608,000
Cash and cash equivalents $ 102,811,000 $ 222,708,000
Marketable securities 0 23,867,000
Accounts receivable, net 85,944,000 91,452,000
Inventory 120,716,000 106,266,000
Prepaid expenses and other current assets 29,774,000 38,298,000
Property and equipment, net 8,696,000 8,686,000
Operating Lease, Right-of-Use Asset 14,403,000 18,729,000
Goodwill 152,351,000 146,459,000
Other long-term assets 28,983,000 311,486,000
Accounts payable 85,936,000 102,612,000
Accrued expenses and other current liabilities 110,769,000 110,049,000
Short-term operating lease liabilities 10,936,000 10,520,000
Deferred revenue 55,418,000 55,913,000
Short-term Bank Loans and Notes Payable 93,208,000 0
Long-term taxes payable 11,621,000 11,199,000
Long-term debt 0 92,615,000
Long-term operating lease liabilities 18,067,000 25,527,000
Other long-term liabilities 6,034,000 3,670,000
Accumulated deficit (681,607,000) (249,296,000)
Current assets:    
Cash and cash equivalents 102,811,000 222,708,000
Marketable securities 0 23,867,000
Accounts receivable, net 85,944,000 91,452,000
Inventory 120,716,000 106,266,000
Prepaid expenses and other current assets 29,774,000 38,298,000
Total current assets 339,245,000 482,591,000
Property and equipment, net 8,696,000 8,686,000
Operating Lease, Right-of-Use Asset 14,403,000 18,729,000
Goodwill 152,351,000 146,459,000
Other long-term assets 28,983,000 311,486,000
Total assets 543,678,000 967,951,000
Current liabilities:    
Accounts payable 85,936,000 102,612,000
Accrued expenses and other current liabilities 110,769,000 110,049,000
Short-term operating lease liabilities 10,936,000 10,520,000
Deferred revenue 55,418,000 55,913,000
Short-term Bank Loans and Notes Payable 93,208,000 0
Total current liabilities 356,267,000 279,094,000
Long-term taxes payable 11,621,000 11,199,000
Long-term debt 0 92,615,000
Long-term operating lease liabilities 18,067,000 25,527,000
Other long-term liabilities 6,034,000 3,670,000
Total liabilities 391,989,000 412,105,000
Commitments, contingencies and guarantees
Stockholders’ equity:    
Preferred Stock, Value, Outstanding 0 0
Common Stocks, Including Additional Paid in Capital 1,026,527,000 998,373,000
Treasury Stock, Value (193,231,000) (193,231,000)
Accumulated deficit (681,607,000) (249,296,000)
Total stockholders’ equity 151,689,000 555,846,000
Total liabilities and stockholders’ equity $ 543,678,000 $ 967,951,000
Preferred Stock, par value (usd per share) $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized (shares) 5,000,000 5,000,000
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Treasury Stock, Common, Shares 26,608,000 26,608,000
Common Class A [Member]    
Common stock outstanding (shares) 129,196,000 123,638,000
Common Stock, Shares Authorized (shares) 500,000,000 500,000,000
Common Stock, Shares, Issued 129,196,000 123,638,000
Stockholders’ equity:    
Common Stock, Shares Authorized (shares) 500,000,000 500,000,000
Common Stock, Shares, Issued 129,196,000 123,638,000
Common Class B [Member]    
Common stock outstanding (shares) 26,259,000 26,259,000
Common Stock, Shares Authorized (shares) 150,000,000 150,000,000
Common Stock, Shares, Issued 26,259,000 26,259,000
Stockholders’ equity:    
Common Stock, Shares Authorized (shares) 150,000,000 150,000,000
Common Stock, Shares, Issued 26,259,000 26,259,000
v3.25.1
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2024
Dec. 31, 2023
Preferred Stock, par value (usd per share) $ 0.0001 $ 0.0001
Preferred Stock, Shares Authorized (shares) 5,000,000 5,000,000
Preferred Stock, Shares Issued (shares) 0 0
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Treasury Stock, Common, Shares 26,608,000 26,608,000
Common Class A [Member]    
Common Stock, Shares Authorized (shares) 500,000,000 500,000,000
Common Stock, Shares, Issued 129,196,000 123,638,000
Common stock outstanding (shares) 129,196,000 123,638,000
Common Class B [Member]    
Common Stock, Shares Authorized (shares) 150,000,000 150,000,000
Common Stock, Shares, Issued 26,259,000 26,259,000
Common stock outstanding (shares) 26,259,000 26,259,000
v3.25.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement [Abstract]      
Revenues $ 801,473,000 $ 1,005,459,000 $ 1,093,541,000
Cost of revenue 530,178,000 681,886,000 686,713,000
Gross profit 271,295,000 323,573,000 406,828,000
Operating expenses:      
Research and development 185,897,000 165,688,000 139,885,000
Sales and marketing 160,635,000 169,578,000 166,967,000
General and administrative 59,796,000 63,770,000 61,021,000
Total operating expenses 406,328,000 399,036,000 367,873,000
Operating income (loss) (135,033,000) (75,463,000) 38,955,000
Interest expense (3,329,000) (4,699,000) (6,242,000)
Other income, net 5,273,000 12,429,000 1,740,000
Total other income (expense), net 1,944,000 7,730,000 (4,502,000)
Income (loss) before income taxes (133,089,000) (67,733,000) 34,453,000
Income tax expense (benefit) 299,222,000 (14,550,000) 5,606,000
Net income (loss) $ (432,311,000) $ (53,183,000) $ 28,847,000
Earnings Per Share, Basic $ (2.82) $ (0.35) $ 0.18
Earnings Per Share, Diluted $ (2.82) $ (0.35) $ 0.18
Weighted Average Number of Shares Outstanding, Basic 153,113 153,348 156,181
Weighted Average Number of Shares Outstanding, Diluted 153,113 153,348 178,279
v3.25.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating activities:        
Net income (loss) $ (432,311) $ (53,183) $ 28,847  
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:        
Depreciation and amortization 6,491 6,160 8,570  
operating lease, right-of-use asset, periodic reduction, net 1,050 3,090 5,501  
Stock-based compensation 29,132 41,479 38,991  
Deferred income taxes, net 296,771 (17,891) 2,710  
Non-cash restructuring charges 0 0 (228)  
Operating Lease, Impairment Loss 3,276 0 0  
Gain (Loss) on Extinguishment of Debt 0 (3,092) 0  
Other 461 (2,600) 1,022  
Changes in operating assets and liabilities:        
Accounts receivable, net 5,291 (14,478) 37,829  
Inventory (14,450) 20,865 (40,722)  
Prepaid expenses and other assets 1,080 (7,649) 7,922  
Accounts payable and other liabilities (21,162) (4,226) (97,112)  
Deferred revenue (770) (1,338) 11,961  
Net Cash Provided by (Used in) Operating Activities (125,141) (32,863) 5,747  
Investing activities:        
Purchases of property and equipment, net (4,039) (1,520) (3,447)  
Purchases of marketable securities 0 (25,782) (165,590)  
Maturities of marketable securities 24,000 149,204 160,649  
Payments to Acquire Businesses, Net of Cash Acquired 12,308 0 0  
Net cash provided by (used in) investing activities 7,653 121,902 (8,388)  
Financing activities:        
Proceeds from issuance of common stock 2,150 3,876 4,760  
Payment, Tax Withholding, Share-based Payment Arrangement (3,079) (8,008) (13,410)  
Payments for Repurchase of Common Stock 0 (40,000) (39,619)  
Early Repayment of Senior Debt 0 (46,250) 0  
Repayments of Lines of Credit 0 0 (125,000)  
Net cash used in financing activities (929) (90,382) (173,269)  
Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents (1,480) 316 (1,442)  
Cash and cash equivalents 102,811 222,708 223,735  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect (119,897) (1,027) (177,352)  
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents   222,708 223,735 $ 401,087
Interest Paid, Including Capitalized Interest, Operating and Investing Activities 1,286 1,976 4,258  
Income Taxes Paid, Net 1,093 (537) 2,100  
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]        
Capital Expenditures Incurred but Not yet Paid 1,047 214 215  
Proceeds from Issuance or Sale of Equity $ 999 $ 0 $ 0  
v3.25.1
Condensed Consolidated Statements Stockholders' Equity (Deficit) - USD ($)
shares in Thousands, $ in Thousands
Total
Retained Earnings [Member]
Common Stock Including Additional Paid in Capital [Member]
Treasury Stock, Common
Stockholders' Equity Attributable to Parent $ 615,914 $ (279,345) $ 1,008,872 $ (113,613)
Shares, Outstanding     156,474  
Allocated share-based compensation expense     $ 38,991  
Treasury Stock, Value, Acquired, Par Value Method (1)      
Stock Repurchased During Period, Value (39,619)      
Treasury Stock, Value, Acquired, Cost Method $ (39,618)      
Stock Repurchased During Period, Shares (5,967)      
Net income (loss) $ 28,847 28,847    
Common stock issued under employee benefit plans, net of shares withheld for tax 4,681   $ 4,681  
Common stock issued under employee benefit plans, net of shares withheld for tax (shares)     4,381  
Share-based Payment Arrangement, Decrease for Tax Withholding Obligation $ (13,410)   $ 13,410  
Change in Accounting Principle, Accounting Standards Update, Adopted [true false] true      
Stockholders' Equity Attributable to Parent $ 611,559 (196,113) $ 960,903 (153,231)
Shares, Outstanding     154,888  
Allocated share-based compensation expense     $ 41,479  
Treasury Stock, Value, Acquired, Par Value Method 0      
Stock Repurchased During Period, Value (40,000)      
Treasury Stock, Value, Acquired, Cost Method $ (40,000)      
Stock Repurchased During Period, Shares (9,931)      
Net income (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  
Stockholders' Equity Attributable to Parent 555,846 (249,296) $ 998,373 (193,231)
Shares, Outstanding     149,897  
Allocated share-based compensation expense     $ 29,132  
Stock Repurchased During Period, Value 0      
Net income (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  
Stockholders' Equity Attributable to Parent $ 151,689 $ (681,607) $ 1,026,527 $ (193,231)
Shares, Outstanding     155,455  
v3.25.1
Summary of business and significant accounting policies
 12 Months Ended
Dec. 31, 2024
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), fair value of convertible senior notes, and income taxes. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from management’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations could be affected.
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, 2024, 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 and the delay of the Company’s next generation 360-camera. During the year ended December 31, 2024, revenue declined 20.3% from the prior year period which resulted in operating losses of $135.0 million and operating cash outflows of $125.1 million, including the payment of $12.6 million related to 2024 restructuring plans. As of December 31, 2024, the Company had $102.8 million in cash and cash equivalents and an accumulated deficit of $681.6 million. The 2025 Notes with an outstanding principal of $93.8 million matures on November 15, 2025, unless earlier repurchased or converted at the option of the holder into shares of Class A common stock under certain circumstances. The Company also had $44.8 million available to draw from its 2021 Credit Agreement as of December 31, 2024 and in the ordinary course of business, has drawn $25.0 million in February 2025.
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 taking into account the restructuring actions already implemented in 2024. 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 including payment of the 2025 Notes upon maturity. The 2025
operational plan is structured to i) realize the savings in wages and benefits from the headcount reductions as part of the 2024 restructuring plans; ii) lower research and development costs from the completion of a next generation system-on-chip and rationalized product roadmap, and the reduction of sales and marketing expenses to a reduced level consistent with the business size; and iii) effectively manage working capital, specifically the Company’s intention to manage inventory levels to better align with its current run rates and seasonality of the business, and the Company’s intention to continue to effectively manage the collection of accounts receivables.
The Company estimates such actions will be sufficient to allow it to maintain liquidity and operations in the ordinary course, including payment of the 2025 Notes upon maturity on November 15, 2025, 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, further inflation, rising interest rates, ongoing recessionary conditions or 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. Additional actions within the Company’s control to maintain liquidity and operations include further reducing discretionary spending in all areas of the business and further headcount restructuring actions. 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.
Cash equivalents and marketable securities. Cash equivalents consist of investments in money market funds with maturities of three months or less from the date of purchase. Marketable securities consist of U.S. treasury securities, commercial paper, government securities and corporate debt securities, and are classified as available-for-sale securities. The Company views these securities as available to support current operations and has classified all available-for-sale securities as current assets. Available-for-sale securities are carried at fair value with unrealized gains and losses, if any, included in stockholders’ equity. Unrealized gains and losses are charged against other income (expense), net, for declines in fair value below the cost of an individual investment that is deemed to be other than temporary. The Company has not identified any marketable securities as other-than-temporarily impaired for the periods presented. The cost of securities sold is based upon a specific identification method.
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, 2024 and 2023, was zero and $0.5 million, respectively.
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 Statement 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 one to nine 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.
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 of the carrying value of its single reporting unit exceeds the fair value, up to the carrying value of goodwill, by using a discounted cash flow method and market approach method.
Although the Company’s market capitalization further declined in the fourth quarter of 2024, the Company does not believe that it is more likely than not that the fair value of its single reporting unit is less than the carrying value. Using the market capitalization approach, which the Company expects would be similar to the discounted
cash flow method, the fair value of the single reporting unit is estimated based on the trading price of the Company’s stock at the test date, which is further adjusted by an acquisition control premium representing the synergies a market participant would obtain when obtaining control of the business. As of December 31, 2024, the market capitalization exceeded the carrying value of the single reporting unit by 10% which was not adjusted for an acquisition control premium. The acquisition control premium would further increase the percentage by which the estimated fair value of the Company’s single reporting unit would exceed the carrying value.
The estimated fair value of the Company’s single reporting unit is sensitive to the volatility in the Company’s stock price. For example, a 5% decrease in the Company’s December 31, 2024 stock price would result in its market capitalization exceeding the carrying value of its single reporting unit by 6%, which is not adjusted for an acquisition control premium. If the Company's market capitalization continues to decline or future performance falls below the Company’s current expectations, assumptions, or estimates, including assumptions related to current macroeconomic uncertainties, this may trigger a future material non-cash goodwill impairment charge, which could have a material adverse effect on the Company’s business, financial condition, and results of operations in the reporting period in which a charge would be necessary. The Company is required to perform impairment tests when it is more likely than not that the fair value of the reporting unit is less than the carrying value. Given current market conditions and the fact that market capitalization is a key component, the Company will continue to monitor its forecasts and market capitalization to determine if a quantitative test is necessary prior to the next annual assessment.
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 12 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 2023 or 2022.
Warranty. The Company records a liability for estimated product warranty costs at the time product 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 due November 15, 2025 (2025 Notes). In November 2023, the Company repurchased $50.0 million in aggregate principal amount of the 2025 Notes. This partial extinguishment of the 2025 Notes resulted in a gain of $3.1 million recognized in the fourth quarter of 2023. 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 product revenue, net of returns and variable consideration, which includes sales incentives provided to customers.
The Company’s camera sales contain multiple performance obligations that can include the following four separate obligations: (i) a camera hardware component (which may be bundled with hardware accessories) and the embedded firmware essential to the functionality of the camera component delivered at the time of sale, (ii) a subscription and service, (iii) the implied right for the customer to receive post contract support after the initial sale (PCS), and (iv) the implicit right to the Company’s downloadable free apps and software solutions. The Company’s PCS includes the right to receive, on a when and if available basis, future unspecified firmware upgrades and features as well as bug fixes, and email, chat, and telephone support.
The Company recognizes revenue from its sales arrangements when control of the promised goods or services are transferred to its customers, in an amount that reflects the amount of consideration expected to be received in exchange for the transferred goods or services. For the sale of hardware products, including related firmware and free software solutions, revenue is recognized when transfer of control occurs at a point in time, which generally is at the time the hardware product is shipped and collection is considered probable. For customers who purchase 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 launched its Premium+ subscription in February 2024, which includes cloud storage up to 500 gigabytes (GB) of non-GoPro content, access to GoPro’s HyperSmooth Pro video stabilization software, and the features included in the Premium subscription. The Company’s Premium subscription offers a range of services, including unlimited cloud storage of GoPro content supporting source video and photo quality, damaged camera replacement, cloud storage up to 25 GB of non-GoPro content, 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. Subscription and service revenue was $107.0 million, or 13.3% of total revenue for the year ended December 31, 2024. Subscription and service revenue as a percentage of 2023 and 2022 annual revenue was below 10%.
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 of sale for non-web-based sales do not allow for product returns other than under warranty. However, the Company grants limited rights of return, primarily to certain large retailers. The Company reduces revenue and cost of sales for the estimated returns based on analyses of historical return trends by customer class and other factors. An estimated return liability along with a right to recover assets are recorded for future product returns. Return trends are influenced by product life cycles, new product introductions, market acceptance of products, product sell-through, the type of customer, seasonality, and other factors. Return rates may fluctuate over time but are sufficiently predictable to allow the Company to estimate expected future product returns.
The Company provides sales commissions to internal and external sales representatives which are earned in the period in which revenue is recognized. As a result, the Company expenses sales commissions as incurred.
Deferred revenue as of December 31, 2024 and 2023, includes amounts related to the Company’s subscriptions and PCS. The Company’s short-term and long-term deferred revenue balances totaled $58.3 million and $59.1 million as of December 31, 2024 and 2023, respectively. During the year ended December 31, 2024 and 2023, the Company recognized $55.8 million and $57.2 million of revenue that was included in the deferred revenue balance of December 31, 2023 and 2022, 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 $33.3 million, $44.1 million, and $40.8 million in 2024, 2023, and 2022, 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. Management makes estimates, assumptions, and judgments to determine the Company’s provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against deferred tax assets. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income in each tax jurisdiction and, to the extent the Company believes recovery is not likely, establishes a valuation allowance. In the first quarter of 2024, the Company provided a valuation allowance of $294.9 million on United States federal and state deferred tax assets. 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 $4.7 million, $9.9 million and $3.1 million in the year ended December 31, 2024, 2023 and 2022, 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
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
ASU No. 2023-07

This standard is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an interim and annual basis. Additionally, this standard would require that a public entity that has a single reportable segment provide all the disclosures required by the standard and all existing segment disclosures in Topic 280. This standard is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The standard requires retrospective application.
The Company concluded the adoption of this standard did not have a material impact on its consolidated financial statements and related disclosures.
Standards not yet 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 is currently evaluating the impact of adopting this standard on its financial statements and related disclosures.
Income Statement Reporting - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
ASU No. 2024-03
This new 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.
Employee benefit plans
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.
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
Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures
ASU No. 2023-07

This standard is intended to improve reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses on an interim and annual basis. Additionally, this standard would require that a public entity that has a single reportable segment provide all the disclosures required by the standard and all existing segment disclosures in Topic 280. This standard is effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The standard requires retrospective application.
The Company concluded the adoption of this standard did not have a material impact on its consolidated financial statements and related disclosures.
Standards not yet 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 is currently evaluating the impact of adopting this standard on its financial statements and related disclosures.
Income Statement Reporting - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses
ASU No. 2024-03
This new 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.
Cash, Cash Equivalents, and Marketable Securities
Cash equivalents and marketable securities. Cash equivalents consist of investments in money market funds with maturities of three months or less from the date of purchase. Marketable securities consist of U.S. treasury securities, commercial paper, government securities and corporate debt securities, and are classified as available-for-sale securities. The Company views these securities as available to support current operations and has classified all available-for-sale securities as current assets. Available-for-sale securities are carried at fair value with unrealized gains and losses, if any, included in stockholders’ equity. Unrealized gains and losses are charged against other income (expense), net, for declines in fair value below the cost of an individual investment that is deemed to be other than temporary. The Company has not identified any marketable securities as other-than-temporarily impaired for the periods presented. The cost of securities sold is based upon a specific identification method.
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 results of operations.
v3.25.1
Business Acquisitions
 12 Months Ended
Dec. 31, 2024
Business Combinations [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 results of operations.
v3.25.1
Fair value measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value measurements Fair value measurements
The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows:
December 31, 2024December 31, 2023
(in thousands)Level 1Level 2TotalLevel 1Level 2Total
Cash equivalents (1):
Money market funds$42,436 $— $42,436 $152,760 $— $152,760 
Total cash equivalents$42,436 $— $42,436 $152,760 $— $152,760 
Marketable securities:
U.S. treasury securities$— $— $— $— $7,962 $7,962 
Commercial paper— — — — 7,942 7,942 
Corporate debt securities— — — — 3,978 3,978 
Government securities— — — — 3,985 3,985 
Total marketable securities$— $— $— $— $23,867 $23,867 
(1)    Included in cash and cash equivalents in the accompanying Consolidated Balance Sheets. Cash balances were $60.4 million and $69.9 million as of December 31, 2024 and 2023, respectively.
Cash equivalents are classified as Level 1 because the Company uses quoted market prices to determine their fair value. Marketable securities are classified as Level 2 because the Company uses alternative pricing sources and models utilizing market observable inputs to determine their fair value. The Company held no marketable securities as of December 31, 2024, and the contractual maturities of available-for-sale marketable securities as of December 31, 2023 were all less than one year in duration. As of December 31, 2024 and 2023, the Company had no financial assets or liabilities measured at fair value on a recurring basis that were classified as Level 3, which are valued based on inputs supported by little or no market activity.
As of December 31, 2024 and 2023, the amortized cost of the Company’s cash equivalents and marketable securities approximated their fair value and there were no material realized or unrealized gains or losses, either individually or in the aggregate.
In November 2020, the Company issued $143.8 million principal amount of Convertible Senior Notes due 2025 (2025 Notes) (see Note 5 Financing arrangements). In November 2023, the Company repurchased $50.0 million in aggregate principal amount of the 2025 Notes. The calculated fair value of the 2025 Notes was $82.5 million and $82.3 million as of December 31, 2024 and 2023, respectively. The estimated fair value of the 2025 Notes is based on quoted market prices of the Company’s instruments in markets that are not active and are classified as Level 2 within the fair value hierarchy. The Company estimated the fair value of the 2025 Notes by evaluating quoted market prices and calculating the upfront cash payment a market participant would require to assume these obligations.
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 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 12 Restructuring charges.
v3.25.1
Condensed consolidated financial statement details
 12 Months Ended
Dec. 31, 2024
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, 2024December 31, 2023
Components
$19,407 $20,311 
Finished goods
101,309 85,955 
Total inventory$120,716 $106,266 
Property and equipment, net
(in thousands)
Useful life
(in years)		December 31, 2024December 31, 2023
Leasehold improvements1–9$23,996 $23,818 
Production, engineering, and other equipment438,018 38,574 
Tooling1–26,810 5,678 
Computers and software212,574 13,896 
Furniture and office equipment33,763 4,575 
Tradeshow equipment and other2–51,424 1,502 
Construction in progress156 83 
Gross property and equipment86,741 88,126 
Less: Accumulated depreciation and amortization(78,045)(79,440)
Property and equipment, net$8,696 $8,686 
Depreciation expense was $4.9 million, $6.2 million, and $8.5 million in 2024, 2023, and 2022, respectively. In 2022, the Company recorded accelerated depreciation charges in connection with its plans to vacate certain manufacturing facilities as disclosed in Note 12 Restructuring charges.
Other long-term assets
(in thousands)
December 31, 2024December 31, 2023
Point of purchase (POP) displays$14,715 $6,254 
Deposits and other7,550 8,233 
Intangible assets, net5,953 15 
Long-term deferred tax assets765 296,984 
Other long-term assets$28,983 $311,486 
Amortization expense for POP displays was $5.1 million, $2.0 million, and $2.1 million in 2024, 2023, and 2022, respectively. Expenditures for POP displays was $13.6 million, $6.5 million, and $1.5 million in 2024, 2023, and 2022, respectively.
Intangible assets
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
Useful life
(in months)		December 31, 2023
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$51,066 $(51,066)$— 
Domain name15 —15 
Total intangible assets$51,081$(51,066)$15
The gross carrying value of purchased technology increased $7.5 million from December 31, 2023 as a result of the acquisition of Forcite Helmet Systems in February 2024 (see Note 2 Business Acquisitions). Amortization expense was $1.6 million, zero, and $0.1 million in 2024, 2023, and 2022, respectively.
As of December 31, 2024, expected amortization expense of intangible assets with definite lives for future periods was as follows:
(in thousands)
Total
Year ending December 31,
2025$1,875 
20261,875 
20271,875 
2028313 
2029— 
$5,938 
Accrued expenses and other current liabilities
(in thousands)
December 31, 2024December 31, 2023
Accrued sales incentives$53,997 $42,752 
Accrued liabilities26,060 21,214 
Employee related liabilities (1)
7,401 18,969 
Warranty liabilities5,930 8,270 
Return liability4,913 6,389 
Inventory received2,010 1,745 
Customer deposits2,694 1,933 
Purchase order commitments1,504 899 
Other6,260 7,878 
Accrued expenses and other current liabilities$110,769 $110,049 
(1)    See Note 12 Restructuring charges for amounts associated with restructuring liabilities.
Product warranty
Year ended December 31,
(in thousands)
202420232022
Beginning balance$8,759 $8,319 $8,842 
Charged to cost of revenue10,822 19,724 18,573 
Settlement of warranty claims(13,374)(19,284)(19,096)
Warranty liability$6,207 $8,759 $8,319 
As of December 31, 2024 and 2023, $5.9 million and $8.3 million, respectively, of the warranty liability was recorded as a component of accrued expenses and other current liabilities, and $0.3 million and $0.5 million, respectively, was recorded as a component of other long-term liabilities.
Intangible Assets Disclosure
Intangible assets
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
Useful life
(in months)		December 31, 2023
(in thousands)Gross carrying valueAccumulated amortizationNet carrying value
Purchased technology 20-72$51,066 $(51,066)$— 
Domain name15 —15 
Total intangible assets$51,081$(51,066)$15
The gross carrying value of purchased technology increased $7.5 million from December 31, 2023 as a result of the acquisition of Forcite Helmet Systems in February 2024 (see Note 2 Business Acquisitions). Amortization expense was $1.6 million, zero, and $0.1 million in 2024, 2023, and 2022, respectively.
As of December 31, 2024, expected amortization expense of intangible assets with definite lives for future periods was as follows:
(in thousands)
Total
Year ending December 31,
2025$1,875 
20261,875 
20271,875 
2028313 
2029— 
$5,938 
v3.25.1
Financing Arrangements
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Financing Arrangements
5. Financing arrangements
2021 Credit Facility
In January 2021, the Company entered into a Credit Agreement which provides for a revolving credit facility (2021 Credit Facility) under which the Company may borrow up to an aggregate amount of $50.0 million. In March 2023, the Company amended the 2021 Credit Agreement (collectively, the 2021 Credit Agreement). The 2021 Credit Agreement will terminate and any outstanding borrowings become due and payable on the earlier of (i) January 2027 and (ii) unless the Company has cash in a specified deposit account in an amount equal to or greater than the amount required to repay the Company’s 1.25% Convertible Senior Notes due November 2025, 91 days prior to the maturity date of such convertible notes.
The amount that may be borrowed under the 2021 Credit Agreement may be based on a customary borrowing base calculation if the Company’s Asset Coverage Ratio is at any time less than 1.50. The Asset Coverage Ratio is defined as the ratio of (i) the sum of (a) the Company’s cash and cash equivalents in the United States plus specified percentages of other qualified debt investments (Qualified Cash) plus (b) specified percentages of the net book values of the Company’s accounts receivable and certain inventory to (ii) $50.0 million.
Borrowed funds accrue interest at the greater of (i) a per annum rate equal to the base rate plus a margin of from 0.50% to 1.00% depending on the Company’s Asset Coverage Ratio or (ii) a per annum rate equal to the Secured Overnight Financing Rate plus a 10 basis point premium and a margin of from 1.50% to 2.00% depending on the Company’s Asset Coverage Ratio. The Company is required to pay a commitment fee on the unused portion of the 2021 Credit Facility of 0.25% per annum. Amounts owed under the 2021 Credit Agreement are guaranteed by certain of the Company’s United States subsidiaries and secured by a first priority security interest in substantially all of the assets of the Company and certain of its subsidiaries (other than intellectual property, which is subject to a negative pledge restricting grants of security interests to third parties).
The 2021 Credit Agreement contains customary representations, warranties, and affirmative and negative covenants. The negative covenants include restrictions on the 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 $55.0 million (of which at least $40.0 million shall be attributable to Qualified Cash), or, if the borrowing base is then in effect, minimum unused availability under the credit facility of at least $10.0 million. The 2021 Credit Agreement also includes customary events of default that include, among other things, non-payment of principal, interest or fees, inaccuracy of representations and warranties, violation of certain covenants, cross default to certain other indebtedness, bankruptcy and insolvency events, material judgments and change of control. Upon an event of default, the lender may, subject to customary cure rights, require the immediate payment of all amounts outstanding.
As of December 31, 2024, the Company was in compliance with all financial covenants contained in the 2021 Credit Agreement. There is an outstanding letter of credit under the 2021 Credit Agreement of $5.2 million for certain duty-related requirements which was not collateralized by any cash on hand. As of December 31, 2024, the Company could borrow up to $44.8 million under the 2021 Credit Agreement. In February 2025, the Company drew $25.0 million on its 2021 Credit Facility.
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.
As of December 31, 2024 and 2023, the outstanding principal on the 2025 Notes was $93.8 million and $93.8 million, respectively, the unamortized debt issuance cost was $0.6 million and $1.2 million, respectively, and the net carrying amount of the liability was $93.2 million and $92.6 million, respectively, which was recorded as short-term debt and long-term debt, respectively, within the Consolidated Balance Sheets. For the year ended December 31, 2024, 2023 and 2022, the Company recorded interest expense of $1.2 million, $1.7 million and $1.8 million respectively, for contractual coupon interest, and $0.6 million, $0.9 million and $1.0 million respectively, for amortization of debt issuance costs. As of December 31, 2024, and 2023, the effective interest rate, which is calculated as the contractual interest rate adjusted for the debt issuance costs, was 1.9% and 2.8%, respectively.
The remaining 2025 Notes are senior, unsecured obligations of the Company and mature on November 15, 2025, unless earlier repurchased or converted by the holder into shares of Class A common stock under certain circumstances. Prior to August 15, 2025, the 2025 Notes are convertible at the option of the holder, at an initial conversion rate of 107.1984 shares of Class A common stock per $1,000 principal amount of the 2025 Notes, which is equivalent to an initial conversion price of approximately $9.3285 per share of common stock, subject to adjustment. Conversion will be settled in cash, shares of the Company’s Class A common stock, or a combination thereof, at the Company’s election. If the Company does not elect to settle conversion of the 2025 Notes into cash, shares of the Company’s Class A common stock, or a combination thereof before August 15, 2025, the Company will be deemed to have elected to settle conversion of the 2025 Notes in a combination of cash and shares of the Company’s Class A common stock. The Company pays interest on the 2025 Notes semi-annually in arrears on May 15 and November 15 of each year.
The Company may redeem all or any portion of the 2025 Notes for cash if the last reported sale price of the Company’s common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately preceding the date on which the Company provides the redemption notice, at a redemption price equal to 100% of the principal amount of the 2025 Notes to be redeemed, plus accrued interest and unpaid interest to, but excluding the redemption date. No sinking fund is provided for the 2025 Notes. The indenture includes customary terms and covenants, including certain events of default after which the 2025 Notes may be due and payable immediately.
Holders have the option to convert the 2025 Notes in multiples of $1,000 principal amount at any time prior to August 15, 2025, but only in the following circumstances:
•during any calendar quarter beginning after the calendar quarter ending on March 31, 2021, if the last reported sale price of Class A common stock for at least 20 trading days (whether or not consecutive) during the last 30 consecutive trading days of the immediately preceding fiscal quarter is greater than or equal to 130% of the conversion price of the 2025 Notes on each applicable trading day;
•during the five-business day period following any five consecutive trading day period in which the trading price for the 2025 Notes is less than 98% of the product of the last reported sale price of Class A common stock and the conversion rate for the 2025 Notes on each such trading day;
•if the Company calls any or all of the 2025 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately before the redemption date; or
•upon the occurrence of specified corporate events.
At any time on or after August 15, 2025 until the second scheduled trading day immediately preceding the maturity date of the 2025 Notes on November 15, 2025, a holder may convert its 2025 Notes, in multiples of $1,000 principal amount. Holders of the 2025 Notes who convert their 2025 Notes in connection with a make-whole fundamental change (as defined in the indenture) are, under certain circumstances, entitled to an increase in the conversion rate. In addition, in the event of a fundamental change prior to the maturity date, holders will, subject to certain conditions, have the right, at their option, to require the Company to repurchase for cash all or part of the 2025 Notes at a repurchase price equal to 100% of the principal amount of the 2025 Notes to be
repurchased, plus accrued and unpaid interest up to, but excluding, the repurchase date. During the year ended December 31, 2024, the conditions allowing holders of the 2025 Notes to convert were not met.
In connection with the offering of the 2025 Notes, the Company paid $10.2 million to enter into privately negotiated capped call transactions with certain financial institutions (Capped Calls). The Capped Calls have an initial strike price of $9.3285 per share, which corresponds to the initial conversion price of the 2025 Notes. The Capped Calls cover, subject to anti-dilution adjustments substantially similar to those applicable to the conversion rate of the 2025 Notes, the number of Class A common stock initially underlying the 2025 Notes. The Capped Calls are generally expected to reduce potential dilution to the Company’s Class A common stock upon any conversion of the 2025 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted 2025 Notes, as the case may be, with such reduction and/or offset subject to a cap, initially equal to $12.0925, and is subject to certain adjustments under the terms of the Capped Call transactions. The Capped Calls will expire in November 2025, if not exercised earlier.
The Capped Calls are subject to adjustment upon the occurrence of specified extraordinary events affecting the Company, including merger events, tender offers, and announcement events. In addition, the Capped Calls are subject to certain specified additional disruption events that may give rise to a termination of the Capped Calls, including nationalization, insolvency or delisting, changes in law, failures to deliver, insolvency filings and hedging disruptions. For accounting purposes, the Capped Calls are separate transactions, and not part of the terms of the 2025 Notes. As these transactions meet certain accounting criteria, the Capped Calls are recorded in stockholders’ equity as a reduction to additional paid-in capital and will not be remeasured as long as they continue to meet certain accounting criteria.
v3.25.1
Employee benefit plans
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Employee benefit plans
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.
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 and performance awards to qualified employees, non-employee directors and consultants. Options granted under the 2024 Plan generally expire within ten years from the date of grant and generally vest over one to four years. Restricted stock units (RSUs) granted under the 2024 Plan generally vest over two to four years based upon continued service and are settled at vesting in shares of the Company’s Class A common stock. Performance stock units (PSUs) granted under the 2024 Plan generally vest over three years based upon continued service and the Company achieving certain financial and operating targets and are settled at vesting in shares of the Company’s Class A common stock. The Company accounts for forfeitures of stock-based payment awards in the period they occur. The 2024 ESPP allows eligible employees to purchase shares of the Company’s Class A common stock through payroll deductions at a price equal to 85% of the lesser of the fair market value of the stock as of the first date or the ending date of each six-month offering period.
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 $1.2 million, $0.9 million, and $0.8 million in 2024, 2023, and 2022, respectively.
Stock options
A summary of the Company’s stock option activity for the year ended December 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average exercise price
Weighted-average remaining contractual term (in years)
Aggregate intrinsic value (in thousands)
Outstanding at December 31, 20232,684 $8.43 5.08$— 
Granted— — 
Exercised— — 
Forfeited/Cancelled(357)14.96 
Outstanding at December 31, 20242,327 $7.43 4.59$— 
Vested and expected to vest at December 31, 20242,327 $7.43 4.59$— 
Exercisable at December 31, 20242,099 $7.65 4.20$— 
The weighted-average grant date fair value of all options granted was zero, $2.14, and $5.05 per share in 2024, 2023, and 2022, respectively. The total fair value of all options vested was $0.8 million, $1.4 million, and $1.5 million in 2024, 2023, and 2022, respectively. The aggregate intrinsic value of the stock options outstanding as of December 31, 2024 represents the value of the Company’s closing stock price on December 31, 2024 in excess of the exercise price multiplied by the number of options outstanding.
Restricted stock units
A summary of the Company’s RSU activity for the year ended December 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 202311,494 $5.94 
Granted8,432 1.76 
Vested(5,290)5.79 
Forfeited(3,393)4.27 
Non-vested shares at December 31, 202411,243 $3.38 
The weighted-average grant date fair value of all RSUs granted was $1.76, $5.13, and $7.68 per share in 2024, 2023, and 2022, respectively. The total fair value of all RSUs vested was $30.6 million, $34.5 million, and $30.8 million in 2024, 2023, and 2022, respectively.
Performance stock units
A summary of the Company’s PSU activity for the year ended December 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 2023829 

$6.40 
Granted1,531 1.70 
Vested(531)6.59 
Forfeited(1,543)1.73 
Non-vested shares at December 31, 2024286 $6.06 
The weighted-average grant date fair value of all PSUs granted was $1.70, $5.79, and $8.70 per share in 2024, 2023, and 2022, respectively. The total fair value of all PSUs vested was $3.5 million, $3.7 million, and $4.8 million in 2024, 2023, and 2022, respectively.
Employee stock purchase plan. For 2024, 2023, and 2022 the Company issued 1.4 million, 0.9 million, and 0.7 million shares under its employee stock purchase plans, respectively, at weighted-average prices of $1.56, $4.10, and $6.72 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 the 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 and 2022. The Company did not grant any options in 2024.
Year ended December 31,
20232022
Volatility
59%-60%
60%-62%
Expected term (years)6.106.10
Risk-free interest rate
3.5%-4.5%
2.0%-3.9%
Dividend yield—%—%
The fair value of stock purchase rights granted under the ESPP was estimated using the following assumptions:
Year ended December 31,
202420232022
Volatility
57%-59%
39%-42%
39%-55%
Expected term (years)0.50.50.5
Risk-free interest rate
5.0%-5.3%
5.0%-5.6%
0.7%-3.1%
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)202420232022
Cost of revenue$1,343 $1,955 $1,805 
Research and development14,411 19,062 17,221 
Sales and marketing5,804 8,736 8,173 
General and administrative7,574 11,726 11,792 
Total stock-based compensation expense$29,132 $41,479 $38,991 
There was no income tax benefit related to stock-based compensation expense for the year ended December 31, 2024 due to a full valuation allowance on the Company’s United States net deferred tax assets. The income tax benefit related to stock-based compensation expense was $9.3 million and $8.6 million for the year ended December 31, 2023 and 2022, respectively. See Note 9, Income taxes, for additional details.
As of December 31, 2024, total unearned stock-based compensation of $28.9 million related to stock options, RSUs, PSUs, and ESPP shares is expected to be recognized over a weighted-average period of 2.02 years
v3.25.1
Net loss per share
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Net loss per share
The following table presents the calculations of basic and diluted net income (loss) per share:
Year ended December 31,
(in thousands, except per share data)202420232022
Numerator:
Net income (loss) - Basic $(432,311)$(53,183)$28,847 
Interest on convertible notes, income tax effected— — 3,055 
Net income (loss) - Diluted$(432,311)$(53,183)$31,902 
Denominator:
Weighted-average common shares - basic for Class A and Class B common stock153,113 153,348 156,181 
Effect of dilutive securities— — 22,098 
Weighted-average common shares - diluted for Class A and Class B common stock153,113 153,348 178,279 
Net income (loss) per share
Basic$(2.82)$(0.35)$0.18 
Diluted$(2.82)$(0.35)$0.18 
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)202420232022
Stock-based awards16,207 15,839 7,495 
Shares related to convertible senior notes10,050 14,808 — 
Total anti-dilutive securities26,257 30,647 7,495 
Basic net income (loss) per share is calculated by dividing net income (loss) by the weighted-average number of shares of common stock outstanding. Diluted net income per share adjusts the basic net income per share and
the weighted-average number of shares of common stock outstanding for the potentially dilutive impact of the Company’s ESPP and stock awards, using the treasury stock method. The Company calculated the potential dilutive effect of its 2025 Notes under the if-converted method. Under the if-converted method, diluted net income per share was determined by assuming all of the 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 2025 Notes will mature on November 15, 2025, unless earlier repurchased or converted into shares of Class A common stock under certain circumstances as described further in Note 5 Financing arrangements. Prior to August 15, 2025, the 2025 Notes are convertible at the option of the holder, at an initial conversion rate of 107.1984 shares of Class A common stock per $1,000 principal amount of the 2025 Notes, which is equivalent to an initial conversion price of approximately $9.3285 per share of common stock, subject to adjustment. Conversion will be settled in cash, shares of the Company’s Class A common stock, or a combination thereof, at the Company’s election.
The rights of the holders of Class A common stock and Class B common stock are identical, except with respect to voting and conversion. Each share of Class A common stock is entitled to one vote per share and each share of Class B common stock is entitled to ten votes per share. Each share of Class B common stock is convertible at any time at the option of the stockholder into one share of Class A common stock and has no expiration date. Each share of Class B common stock will convert automatically into one share of Class A common stock upon the date when the outstanding shares of Class B common stock represent less than 10% of the aggregate number of shares of common stock then outstanding. Class A common stock is not convertible into Class B common stock. The computation of the diluted net income per share of Class A common stock assumes the conversion of Class B common stock.
v3.25.1
Income taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income taxes
9. Income taxes
Income (loss) before income taxes consisted of the following:
Year ended December 31,
(in thousands)
202420232022
United States$(142,195)$(79,514)$26,215 
Foreign9,106 11,781 8,238 
Income (loss) before income taxes$(133,089)$(67,733)$34,453 
Income tax expense (benefit) consisted of the following:
Year ended December 31,
(in thousands)
202420232022
Current
Federal$1 $3 $2 
State(28)162 818 
Foreign2,478 3,176 2,076 
Total current2,451 3,341 2,896 
Deferred
Federal222,087 (14,018)5,039 
State74,886 (3,828)(2,312)
Foreign(202)(45)(17)
Total deferred296,771 (17,891)2,710 
Income tax expense (benefit)$299,222 $(14,550)$5,606 
Year ended December 31,
202420232022
(dollars in thousands)
$%$%
$
%
Reconciliation to statutory rate
Tax at federal statutory rate$(27,949)21.0 %$(14,224)21.0 %$7,234 21.0 %
Impact of foreign operations2,254 (1.7)2,969 (4.4)1,572 4.6 
Stock-based compensation5,629 (4.2)3,434 (5.1)(1,192)(3.5)
Nondeductible items363 (0.3)557 (0.8)1,805 5.2 
Change in valuation allowance327,367 (246.0)— — — — 
State income taxes, net of federal benefit(2,893)2.2 (1,560)2.3 1,189 3.5 
Tax credits(5,366)4.0 (5,474)8.1 (5,222)(15.1)
Other(183)0.2 (252)0.4 220 0.6 
Income tax expense (benefit) at effective tax rate$299,222 (224.8)%$(14,550)21.5 %$5,606 16.3 %
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 effective tax rate of 21.5% for 2023, primarily resulted from a tax benefit on pre-tax book loss, and federal and California research and development credits, partially offset by the nondeductible equity tax expense from stock-based compensation and the impact of foreign operations, net of the release of a portion of uncertain tax positions as a result of a lapse in the statute of limitations in certain jurisdictions.
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)
20242023
Deferred tax assets:
Net operating loss carryforwards$110,724 $109,059 
Tax credit carryforwards101,895 96,610 
Stock-based compensation4,531 5,966 
Allowance for returns1,706 1,823 
Intangible assets1,873 2,727 
Depreciation and amortization1,177 988 
Operating lease liabilities6,784 8,326 
Capitalized research and development costs80,310 55,266 
Accruals and reserves21,944 20,540 
Total deferred tax assets330,944 301,305 
Valuation allowance(327,367)— 
Net deferred tax assets, net of valuation allowance$3,577 $301,305 
Deferred tax liabilities:
Operating lease right-of-use assets$(3,424)$(4,321)
Total deferred tax liabilities(3,424)(4,321)
Net deferred tax assets$153 $296,984 
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 March 31, 2024, the Company concluded based on the introduction of negative evidence resulting from developments in the first quarter of 2024, such as increased and accelerated costs associated with the Company’s future product strategy and roadmap, an increased competitive environment, integration and product development costs related to the acquisition of Forcite Helmet Systems, restructuring costs and other negative factors, that it was more likely than not that its United States federal and state deferred tax assets would not be realizable. Therefore, in the period ended March 31, 2024, after consideration of the Company’s deferred tax liabilities and recent developments, the Company provided a valuation allowance of $294.9 million on United States federal and state deferred tax assets. That determination was also based, in part, on the Company’s revised expectation that its projections of pre-tax losses in 2024 and future years will cause the Company to be in a cumulative GAAP loss for ASC Topic 740 purposes in 2024 and forward. In the assessment for the period ended December 31, 2024, 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, 2024, the total valuation allowance on United States federal and state net deferred tax assets was $327.4 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, 2024, the Company’s federal, California, and other state net operating loss carryforwards for income tax purposes were $396.6 million, $254.6 million, and $182.8 million, net of reserves, respectively. Also, the Company’s federal and California state tax credit carryforwards were $57.2 million and $56.6 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 2044, while federal credit and other state loss carryforwards will begin to expire primarily from 2025 to 2044. 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 $27.0 million, $25.8 million, and $23.4 million, as of December 31, 2024, 2023, and 2022, respectively. For fiscal year 2024, 2023, and 2022, total unrecognized income tax benefits were $11.6 million, $10.9 million, and $9.8 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. The Company believes, due to statute of limitations expiration, that within the next 12 months, it is possible that up to $2.9 million of uncertain tax positions could be released resulting in a tax benefit. It is also reasonably possible that additional uncertain tax positions will be added. It is not reasonably possible at this time to quantify the net effect.
A reconciliation of the beginning and ending amount of gross unrecognized income tax benefits are as follows:
Year ended December 31,
(in thousands)
202420232022
Balance at January 1$25,836 $23,414 $21,330 
Increase related to current year tax positions4,665 4,948 2,543 
Decrease related to prior year tax positions(3,482)(2,526)(459)
Balance at December 31$27,019 $25,836 $23,414 
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, 2024, 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.
v3.25.1
Commitments, contingencies and guarantees
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments, contingencies and guarantees
10. Commitments, contingencies, and guarantees
Facility leases. The Company leases its facilities under long-term operating leases, which expire at various dates through 2033.
The components of net lease cost, which were primarily recorded in operating expenses, were as follows:
Year ended December 31,
(in thousands)202420232022
Operating lease cost (1)
$10,262 $11,045 $11,060 
Sublease income(2,817)(2,281)(2,907)
Right-of-use asset impairment cost3,276 — — 
Net lease cost$10,721 $8,764 $8,153 
(1)    Operating lease costs include immaterial variable lease costs and amounts related to restructuring charges, which are discussed in Note 12 Restructuring charges.

Supplemental cash flow information related to leases was as follows:
Year ended December 31,
(in thousands)202420232022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$13,737 $12,217 $14,595 
Right-of-use assets obtained in exchange for operating lease liabilities4,801 3,943 1,221 
Operating lease modification to decrease right-of-use assets— — (232)

Supplemental balance sheet information related to leases was as follows:
December 31, 2024December 31, 2023
Weighted-average remaining lease term (in years) - operating leases3.103.05
Weighted-average discount rate - operating leases6.3%6.2%

As of December 31, 2024, maturities of operating lease liabilities were as follows:
(in thousands)December 31, 2024
2025$12,472 
202613,270 
20272,148 
2028811 
2029864 
Thereafter2,918 
Total lease payments32,483 
Less: Imputed interest(3,480)
Present value of lease liabilities$29,003 
Other commitments. In the ordinary course of business, the Company enters into multi-year agreements to purchase sponsorships with event organizers, resorts and athletes as part of its marketing efforts; software licenses related to its financial and IT systems; debt agreements; and various other contractual commitments. As of December 31, 2024, future commitments were as follows:

(in thousands)
Total20252026202720282029Thereafter
Other contractual commitments$124,420 $60,665 $47,081 $16,674 $— $— $— 
Long-term debt (1)
94,922 94,922 — — — — — 
Total contractual cash obligations
$219,342 $155,587 $47,081 $16,674 $— $— $— 
(1)    The Company's convertible senior note is due in November 2025. The balances include accrued and unpaid interest as of December 31, 2024. Refer to Note 5 Financing arrangements.
Legal proceedings and investigations. Since 2015, Contour IP Holdings LLC (CIPH) and related entities have filed lawsuits in various federal district courts alleging, among other things, patent infringement in relation to certain GoPro products. Following litigation in federal courts and the United States Patent and Trademark Office, CIPH’s patents were ruled invalid in March 2022. Judgment was then entered in favor of the Company and against CIPH. CIPH later appealed to the Federal Circuit. In September 2024, the Federal Circuit panel reversed the district court ruling. On October 9, 2024, GoPro filed a petition for rehearing of the panel’s decision which was denied on November 14, 2024. On remand, the district court set a trial date for September 2025 and indicated the court would rule on dispositive motions after a hearing on February 12, 2025. In advance of the hearing, on
February 11, 2025, the court issued a tentative ruling granting and denying certain motions made by both Company and CIPH. A formal ruling is expected in due course.
On March 29, 2024, the Company filed a complaint with the U.S. International Trade Commission (ITC) against Arashi Vision Inc., d/b/a Insta360, and Arashi Vision (U.S.) LLC, d/b/a Insta360, and a lawsuit in the U.S. District Court for the Central District of California against Arashi Vision Inc., d/b/a Insta360, and Arashi Vision (U.S.) LLC, d/b/a Insta360. The complaint and lawsuit each allege infringement of certain GoPro patents related to the Company’s cameras and digital imaging technology. Insta360 has filed inter partes review (IPR) petitions seeking to challenge the validity of the GoPro patents asserted against Insta360, some of which have been instituted by the Patent Trial and Appeal Board. 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), which the Company believes lacks merit and intends to defend against. The ITC held a hearing on GoPro’s complaint in January 2025, and the Company anticipates an initial ruling in May 2025.
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, 2024, the Company has not paid any claims, nor has it been required to defend any action related to its indemnification obligations. However, the Company may record charges in the future as a result of these indemnification obligations.
v3.25.1
Concentrations of risk and geographic information
 12 Months Ended
Dec. 31, 2024
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 and cash equivalents, marketable securities, accounts receivable, and derivative instruments, including the Capped Calls associated with the 2025 Notes. The Company places cash and cash equivalents with high-credit-quality financial institutions; however, the Company maintains cash balances in excess of the FDIC insurance limits. The Company believes that credit risk for accounts receivable is mitigated by the Company’s credit evaluation process, relatively short collection terms and dispersion of its customer base. The Company generally does not require collateral and losses on trade receivables have historically been within the Company’s expectations. The Company believes its counterparty credit risk related to its derivative instruments is mitigated by transacting with major financial institutions with high credit ratings.
Customers who represented 10% or more of the Company’s net accounts receivable balance were as follows:
December 31, 2024December 31, 2023
Customer A26%30%
Customer B*11%
* 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)
202420232022
Accounts receivable sold$88,357 $103,990 $124,350 
Factoring fees1,287 1,555 1,163 
There were no third-party customers who represented 10% or more of the Company’s total revenue in 2024, 2023, or 2022.
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 31,2024 vs 20232023 vs 2022
(in thousands)
202420232022
% Change
% Change
Americas$378,934 $469,675 $521,270 (19)%(10)%
Europe, Middle East and Africa (EMEA)258,976 290,814 300,870 (11)(3)
Asia and Pacific (APAC)163,563 244,970 271,401 (33)(10)
Total revenue$801,473 $1,005,459 $1,093,541 (20)%(8)%
Revenue from the United States, which is included in the Americas geographic region, was $291.3 million, $388.0 million, and $446.0 million for 2024, 2023, and 2022 respectively. No other individual country exceeded 10% of total revenue for any period presented. The Company does not disclose revenue by product category as it does not track sales incentives and other revenue adjustments by product category to report such data.
As of December 31, 2024 and 2023, long-lived assets, which represent net property and equipment, located outside the United States, primarily in Hong Kong and mainland China, were $3.5 million and $1.6 million, respectively.
v3.25.1
Subsequent Events
 12 Months Ended
Dec. 31, 2024
Subsequent Event [Line Items]  
Subsequent Events [Text Block]
13. Subsequent events
v3.25.1
Valuation and Qualifying Accounts
 12 Months Ended
Dec. 31, 2024
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]  
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]
Schedule II
GoPro, Inc.
VALUATION AND QUALIFYING ACCOUNTS
For the year ended December 31, 2024, 2023 and 2022
(in thousands)Balance at Beginning of YearCharges to RevenueCharges (Benefits) to ExpenseCharges to Other Accounts - EquityDeductions/Write-offsBalance at End of Year
Allowance for doubtful accounts receivable:
Year ended December 31, 2024$450 $— $(314)$— $(125)$11 
Year ended December 31, 2023390 — 67 — (7)450 
Year ended December 31, 2022700 — (294)— (16)390 
Valuation allowance for deferred tax assets:
Year ended December 31, 2024$— $— $327,367 $— $— $327,367 
Year ended December 31, 2023— — — — — — 
Year ended December 31, 2022— — — — — — 
v3.25.1
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net income (loss) $ (432,311) $ (53,183) $ 28,847
v3.25.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
shares
Brian McGee [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
(1) On November 15, 2024, Brian McGee, our Executive Vice President, Chief Financial Officer and Chief Operating Officer, entered into a Rule 10b5-1 trading plan (the "McGee 2024 Plan") which was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.
(2) The McGee 2024 Plan provides for the sale of up to a maximum of 288,354 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 the exercise of stock options. During the term of the McGee 2024 Plan, all vested shares received pursuant to equity awards granted to Mr. McGee 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 McGee 2024 Plan and the vesting conditions of the awards, the number of shares actually sold under the McGee 2024 Plan may be less than the maximum number of shares that can be sold, as noted in the table above. The McGee 2024 Plan will expire on November 15, 2025, or earlier if all transactions under the McGee 2024 Plan are completed.
Name Brian McGee
Title Executive Vice President, Chief Financial Officer and Chief Operating Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date 11/15/2024 (1)
Expiration Date 11/15/2025
Aggregate Available 288,354
Eve Saltman [Member]  
Trading Arrangements, by Individual  
Material Terms of Trading Arrangement
(3) On November 18, 2024, Eve Saltman, the Company’s Senior Vice President, Corporate and Business Development, Chief Legal Officer and Secretary and Chief Compliance Officer, entered into a Rule 10b5-1 trading plan (the "Saltman 2024 Plan") which was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.
(4) The Saltman 2024 Plan provides for the sale of up to a maximum of 187,791 shares of Class A common stock comprised of shares acquired upon the vesting of restricted stock units and performance-based restricted stock units and previously vested restricted stock units. During the term of the Saltman 2024 Plan, all vested shares received pursuant to equity awards granted to Ms. Saltman 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 Saltman 2024 Plan and the vesting conditions of the awards, the number of shares actually sold under the Saltman 2024 Plan may be less than the maximum number of shares that can be sold, as noted in the table above. The Saltman 2024 Plan will expire on November 25, 2025, or earlier if all transactions under the Saltman 2024 Plan are completed
Name Eve Saltman
Title Chief Legal Officer, and Secretary, SVP, Corporate and Business Development, and Chief Compliance Officer
Rule 10b5-1 Arrangement Adopted true
Adoption Date 11/18/2024 (3)
Expiration Date 11/25/2025
Aggregate Available 187,791
v3.25.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
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.
v3.25.1
Summary of business and significant accounting policies (Policies)
 12 Months Ended
Dec. 31, 2024
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), fair value of convertible senior notes, and income taxes. The Company bases its estimates and assumptions on historical experience and on various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from management’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations could be affected.
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
Cash, Cash Equivalents, and Marketable Securities
Cash equivalents and marketable securities. Cash equivalents consist of investments in money market funds with maturities of three months or less from the date of purchase. Marketable securities consist of U.S. treasury securities, commercial paper, government securities and corporate debt securities, and are classified as available-for-sale securities. The Company views these securities as available to support current operations and has classified all available-for-sale securities as current assets. Available-for-sale securities are carried at fair value with unrealized gains and losses, if any, included in stockholders’ equity. Unrealized gains and losses are charged against other income (expense), net, for declines in fair value below the cost of an individual investment that is deemed to be other than temporary. The Company has not identified any marketable securities as other-than-temporarily impaired for the periods presented. The cost of securities sold is based upon a specific identification method.
Inventory, Policy
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.
Property, Plant and Equipment, Policy 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 one to nine 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 Measurement, Policy
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.
Leases
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.
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 of the carrying value of its single reporting unit exceeds the fair value, up to the carrying value of goodwill, by using a discounted cash flow method and market approach method.
Although the Company’s market capitalization further declined in the fourth quarter of 2024, the Company does not believe that it is more likely than not that the fair value of its single reporting unit is less than the carrying value. Using the market capitalization approach, which the Company expects would be similar to the discounted
cash flow method, the fair value of the single reporting unit is estimated based on the trading price of the Company’s stock at the test date, which is further adjusted by an acquisition control premium representing the synergies a market participant would obtain when obtaining control of the business. As of December 31, 2024, the market capitalization exceeded the carrying value of the single reporting unit by 10% which was not adjusted for an acquisition control premium. The acquisition control premium would further increase the percentage by which the estimated fair value of the Company’s single reporting unit would exceed the carrying value.
The estimated fair value of the Company’s single reporting unit is sensitive to the volatility in the Company’s stock price. For example, a 5% decrease in the Company’s December 31, 2024 stock price would result in its market capitalization exceeding the carrying value of its single reporting unit by 6%, which is not adjusted for an acquisition control premium. If the Company's market capitalization continues to decline or future performance falls below the Company’s current expectations, assumptions, or estimates, including assumptions related to current macroeconomic uncertainties, this may trigger a future material non-cash goodwill impairment charge, which could have a material adverse effect on the Company’s business, financial condition, and results of operations in the reporting period in which a charge would be necessary. The Company is required to perform impairment tests when it is more likely than not that the fair value of the reporting unit is less than the carrying value. Given current market conditions and the fact that market capitalization is a key component, the Company will continue to monitor its forecasts and market capitalization to determine if a quantitative test is necessary prior to the next annual assessment.
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 12 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 2023 or 2022.
Standard Product Warranty, Policy Warranty. The Company records a liability for estimated product warranty costs at the time product 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
Debt, Policy
Convertible Senior Notes. In November 2020, the Company issued $143.8 million aggregate principal amount of 1.25% Convertible Senior Notes due November 15, 2025 (2025 Notes). In November 2023, the Company repurchased $50.0 million in aggregate principal amount of the 2025 Notes. This partial extinguishment of the 2025 Notes resulted in a gain of $3.1 million recognized in the fourth quarter of 2023. 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
Revenue recognition. The Company derives substantially all of its revenue from the sale of cameras, mounts, accessories, subscription and service, and implied post contract support to customers. The transaction price recognized as revenue represents the consideration the Company expects to be entitled to and is primarily comprised of product revenue, net of returns and variable consideration, which includes sales incentives provided to customers.
The Company’s camera sales contain multiple performance obligations that can include the following four separate obligations: (i) a camera hardware component (which may be bundled with hardware accessories) and the embedded firmware essential to the functionality of the camera component delivered at the time of sale, (ii) a subscription and service, (iii) the implied right for the customer to receive post contract support after the initial sale (PCS), and (iv) the implicit right to the Company’s downloadable free apps and software solutions. The Company’s PCS includes the right to receive, on a when and if available basis, future unspecified firmware upgrades and features as well as bug fixes, and email, chat, and telephone support.
The Company recognizes revenue from its sales arrangements when control of the promised goods or services are transferred to its customers, in an amount that reflects the amount of consideration expected to be received in exchange for the transferred goods or services. For the sale of hardware products, including related firmware and free software solutions, revenue is recognized when transfer of control occurs at a point in time, which generally is at the time the hardware product is shipped and collection is considered probable. For customers who purchase 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 launched its Premium+ subscription in February 2024, which includes cloud storage up to 500 gigabytes (GB) of non-GoPro content, access to GoPro’s HyperSmooth Pro video stabilization software, and the features included in the Premium subscription. The Company’s Premium subscription offers a range of services, including unlimited cloud storage of GoPro content supporting source video and photo quality, damaged camera replacement, cloud storage up to 25 GB of non-GoPro content, 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. Subscription and service revenue was $107.0 million, or 13.3% of total revenue for the year ended December 31, 2024. Subscription and service revenue as a percentage of 2023 and 2022 annual revenue was below 10%.
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 of sale for non-web-based sales do not allow for product returns other than under warranty. However, the Company grants limited rights of return, primarily to certain large retailers. The Company reduces revenue and cost of sales for the estimated returns based on analyses of historical return trends by customer class and other factors. An estimated return liability along with a right to recover assets are recorded for future product returns. Return trends are influenced by product life cycles, new product introductions, market acceptance of products, product sell-through, the type of customer, seasonality, and other factors. Return rates may fluctuate over time but are sufficiently predictable to allow the Company to estimate expected future product returns.
The Company provides sales commissions to internal and external sales representatives which are earned in the period in which revenue is recognized. As a result, the Company expenses sales commissions as incurred.
Deferred revenue as of December 31, 2024 and 2023, includes amounts related to the Company’s subscriptions and PCS. The Company’s short-term and long-term deferred revenue balances totaled $58.3 million and $59.1 million as of December 31, 2024 and 2023, respectively. During the year ended December 31, 2024 and 2023, the Company recognized $55.8 million and $57.2 million of revenue that was included in the deferred revenue balance of December 31, 2023 and 2022, respectively.
Revenue Recognition, Incentives
Sales incentives. The Company offers sales incentives through various programs, including cooperative advertising, price protection, marketing development funds, and other incentives. Sales incentives are considered to be variable consideration, which the Company estimates and records as a reduction to revenue at the date of sale. The Company estimates sales incentives based on historical experience, product sell-through, and other factors.
Shipping and Handling Cost, Policy 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. Sales taxes collected from customers and remitted to respective governmental authorities are recorded as liabilities and are not included in revenue.
Advertising Cost 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 $33.3 million, $44.1 million, and $40.8 million in 2024, 2023, and 2022, respectively.
Employee benefit plans
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 Transactions and Translations Policy 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 Tax, Policy
Income taxes. The Company utilizes the asset and liability method for computing its income tax provision, under which, deferred tax assets and liabilities are recognized for the expected future consequences of temporary differences between the financial reporting and tax bases of assets and liabilities using enacted tax rates. Management makes estimates, assumptions, and judgments to determine the Company’s provision for income taxes, deferred tax assets and liabilities, and any valuation allowance recorded against deferred tax assets. The Company assesses the likelihood that its deferred tax assets will be recovered from future taxable income in each tax jurisdiction and, to the extent the Company believes recovery is not likely, establishes a valuation allowance. In the first quarter of 2024, the Company provided a valuation allowance of $294.9 million on United States federal and state deferred tax assets. 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 $4.7 million, $9.9 million and $3.1 million in the year ended December 31, 2024, 2023 and 2022, respectively.
Goodwill and Intangible Assets, Goodwill, Policy
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.
Business Combinations Policy
Business Acquisitions. The Company accounts for acquired businesses using the acquisition method of accounting, which requires that once control of a business is obtained, 100% of the assets acquired and liabilities assumed be recorded at the date of acquisition at their respective fair values. Any excess of the purchase price over the estimated fair values of the net assets acquired is recorded as goodwill. Acquisition-related expenses including transaction and integration costs are expensed as incurred. The Company uses various models to determine the value of assets acquired such as the cost method. Determining the useful life of an intangible asset also requires judgment as different types of intangible assets will have different useful lives and certain assets may be considered to have indefinite useful lives.
Liquidity
Liquidity. 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, 2024, 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 and the delay of the Company’s next generation 360-camera. During the year ended December 31, 2024, revenue declined 20.3% from the prior year period which resulted in operating losses of $135.0 million and operating cash outflows of $125.1 million, including the payment of $12.6 million related to 2024 restructuring plans. As of December 31, 2024, the Company had $102.8 million in cash and cash equivalents and an accumulated deficit of $681.6 million. The 2025 Notes with an outstanding principal of $93.8 million matures on November 15, 2025, unless earlier repurchased or converted at the option of the holder into shares of Class A common stock under certain circumstances. The Company also had $44.8 million available to draw from its 2021 Credit Agreement as of December 31, 2024 and in the ordinary course of business, has drawn $25.0 million in February 2025.
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 taking into account the restructuring actions already implemented in 2024. 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 including payment of the 2025 Notes upon maturity. The 2025
operational plan is structured to i) realize the savings in wages and benefits from the headcount reductions as part of the 2024 restructuring plans; ii) lower research and development costs from the completion of a next generation system-on-chip and rationalized product roadmap, and the reduction of sales and marketing expenses to a reduced level consistent with the business size; and iii) effectively manage working capital, specifically the Company’s intention to manage inventory levels to better align with its current run rates and seasonality of the business, and the Company’s intention to continue to effectively manage the collection of accounts receivables.
The Company estimates such actions will be sufficient to allow it to maintain liquidity and operations in the ordinary course, including payment of the 2025 Notes upon maturity on November 15, 2025, 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, further inflation, rising interest rates, ongoing recessionary conditions or 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. Additional actions within the Company’s control to maintain liquidity and operations include further reducing discretionary spending in all areas of the business and further headcount restructuring actions. 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.
Accounts Receivable
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, 2024 and 2023, was zero and $0.5 million, respectively.
v3.25.1
Equity (Policies) - USD ($)
 12 Months Ended
Dec. 31, 2024
Feb. 09, 2023
Jan. 27, 2022
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, 2024, 129.2 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, 2024, 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, 2024:
(in thousands)
December 31, 2024
Stock options outstanding2,327 
Restricted stock units outstanding11,243 
Performance stock units outstanding1,817 
Common stock available for future grants24,835 
Total common stock shares reserved for issuance40,222 
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, 2024, the remaining amount of share repurchases under the program was $60.4 million. The following table summarizes share repurchases during the year ended December 31, 2024 and 2023.

Year ended December 31,
(in thousands, except per share data)20242023
Shares repurchased— 9,931 
Average price per share$— $4.03 
Value of shares repurchased$— $40,000 
    
Stock Repurchase Program, Remaining Authorized Repurchase Amount $ 60,400,000    
Stock Repurchase Program, Authorized Amount   $ 40,000,000.0 $ 100,000,000.0
v3.25.1
Fair value measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Assets measured at fair value on recurring basis
The Company’s assets that are measured at fair value on a recurring basis within the fair value hierarchy are summarized as follows:
December 31, 2024December 31, 2023
(in thousands)Level 1Level 2TotalLevel 1Level 2Total
Cash equivalents (1):
Money market funds$42,436 $— $42,436 $152,760 $— $152,760 
Total cash equivalents$42,436 $— $42,436 $152,760 $— $152,760 
Marketable securities:
U.S. treasury securities$— $— $— $— $7,962 $7,962 
Commercial paper— — — — 7,942 7,942 
Corporate debt securities— — — — 3,978 3,978 
Government securities— — — — 3,985 3,985 
Total marketable securities$— $— $— $— $23,867 $23,867 
(1)    Included in cash and cash equivalents in the accompanying Consolidated Balance Sheets. Cash balances were $60.4 million and $69.9 million as of December 31, 2024 and 2023, respectively.
v3.25.1
Condensed consolidated financial statement details (Tables)
 12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Inventory
Inventory
(in thousands)
December 31, 2024December 31, 2023
Components
$19,407 $20,311 
Finished goods
101,309 85,955 
Total inventory$120,716 $106,266 
Property, Plant and Equipment
Property and equipment, net
(in thousands)
Useful life
(in years)		December 31, 2024December 31, 2023
Leasehold improvements1–9$23,996 $23,818 
Production, engineering, and other equipment438,018 38,574 
Tooling1–26,810 5,678 
Computers and software212,574 13,896 
Furniture and office equipment33,763 4,575 
Tradeshow equipment and other2–51,424 1,502 
Construction in progress156 83 
Gross property and equipment86,741 88,126 
Less: Accumulated depreciation and amortization(78,045)(79,440)
Property and equipment, net$8,696 $8,686 
Schedule of Other Assets
Other long-term assets
(in thousands)
December 31, 2024December 31, 2023
Point of purchase (POP) displays$14,715 $6,254 
Deposits and other7,550 8,233 
Intangible assets, net5,953 15 
Long-term deferred tax assets765 296,984 
Other long-term assets$28,983 $311,486 
Schedule of Accrued Liabilities
Accrued expenses and other current liabilities
(in thousands)
December 31, 2024December 31, 2023
Accrued sales incentives$53,997 $42,752 
Accrued liabilities26,060 21,214 
Employee related liabilities (1)
7,401 18,969 
Warranty liabilities5,930 8,270 
Return liability4,913 6,389 
Inventory received2,010 1,745 
Customer deposits2,694 1,933 
Purchase order commitments1,504 899 
Other6,260 7,878 
Accrued expenses and other current liabilities$110,769 $110,049 
Schedule of Product Warranty Liability
Product warranty
Year ended December 31,
(in thousands)
202420232022
Beginning balance$8,759 $8,319 $8,842 
Charged to cost of revenue10,822 19,724 18,573 
Settlement of warranty claims(13,374)(19,284)(19,096)
Warranty liability$6,207 $8,759 $8,319 
As of December 31, 2024 and 2023, $5.9 million and $8.3 million, respectively, of the warranty liability was recorded as a component of accrued expenses and other current liabilities, and $0.3 million and $0.5 million, respectively, was recorded as a component of other long-term liabilities.
v3.25.1
Employee benefit plans (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
schedule of share-based compensation, Performance Stock Units Award Activity [Table Text Block]
A summary of the Company’s PSU activity for the year ended December 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 2023829 

$6.40 
Granted1,531 1.70 
Vested(531)6.59 
Forfeited(1,543)1.73 
Non-vested shares at December 31, 2024286 $6.06 
Schedule of Share-based Compensation, Stock Options, Activity
A summary of the Company’s stock option activity for the year ended December 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average exercise price
Weighted-average remaining contractual term (in years)
Aggregate intrinsic value (in thousands)
Outstanding at December 31, 20232,684 $8.43 5.08$— 
Granted— — 
Exercised— — 
Forfeited/Cancelled(357)14.96 
Outstanding at December 31, 20242,327 $7.43 4.59$— 
Vested and expected to vest at December 31, 20242,327 $7.43 4.59$— 
Exercisable at December 31, 20242,099 $7.65 4.20$— 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity
A summary of the Company’s RSU activity for the year ended December 31, 2024 is as follows:
Shares
(in thousands)
Weighted-average grant date fair value
Non-vested shares at December 31, 202311,494 $5.94 
Granted8,432 1.76 
Vested(5,290)5.79 
Forfeited(3,393)4.27 
Non-vested shares at December 31, 202411,243 $3.38 
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)202420232022
Cost of revenue$1,343 $1,955 $1,805 
Research and development14,411 19,062 17,221 
Sales and marketing5,804 8,736 8,173 
General and administrative7,574 11,726 11,792 
Total stock-based compensation expense$29,132 $41,479 $38,991 
Class of Treasury Stock
Year ended December 31,
(in thousands, except per share data)20242023
Shares repurchased— 9,931 
Average price per share$— $4.03 
Value of shares repurchased$— $40,000 
v3.25.1
Net loss per share (Tables)
 12 Months Ended
Dec. 31, 2024
Earnings Per Share [Abstract]  
Schedule of Net Income per Share, Basic and Diluted
8. Net income (loss) per share
The following table presents the calculations of basic and diluted net income (loss) per share:
Year ended December 31,
(in thousands, except per share data)202420232022
Numerator:
Net income (loss) - Basic $(432,311)$(53,183)$28,847 
Interest on convertible notes, income tax effected— — 3,055 
Net income (loss) - Diluted$(432,311)$(53,183)$31,902 
Denominator:
Weighted-average common shares - basic for Class A and Class B common stock153,113 153,348 156,181 
Effect of dilutive securities— — 22,098 
Weighted-average common shares - diluted for Class A and Class B common stock153,113 153,348 178,279 
Net income (loss) per share
Basic$(2.82)$(0.35)$0.18 
Diluted$(2.82)$(0.35)$0.18 
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)202420232022
Stock-based awards16,207 15,839 7,495 
Shares related to convertible senior notes10,050 14,808 — 
Total anti-dilutive securities26,257 30,647 7,495 
v3.25.1
Income taxes (Tables)
 12 Months Ended
Dec. 31, 2024
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)
202420232022
Current
Federal$1 $3 $2 
State(28)162 818 
Foreign2,478 3,176 2,076 
Total current2,451 3,341 2,896 
Deferred
Federal222,087 (14,018)5,039 
State74,886 (3,828)(2,312)
Foreign(202)(45)(17)
Total deferred296,771 (17,891)2,710 
Income tax expense (benefit)$299,222 $(14,550)$5,606 
Schedule of Income before Income Tax, Domestic and Foreign
Income (loss) before income taxes consisted of the following:
Year ended December 31,
(in thousands)
202420232022
United States$(142,195)$(79,514)$26,215 
Foreign9,106 11,781 8,238 
Income (loss) before income taxes$(133,089)$(67,733)$34,453 
Schedule of Effective Income Tax Rate Reconciliation
Year ended December 31,
202420232022
(dollars in thousands)
$%$%
$
%
Reconciliation to statutory rate
Tax at federal statutory rate$(27,949)21.0 %$(14,224)21.0 %$7,234 21.0 %
Impact of foreign operations2,254 (1.7)2,969 (4.4)1,572 4.6 
Stock-based compensation5,629 (4.2)3,434 (5.1)(1,192)(3.5)
Nondeductible items363 (0.3)557 (0.8)1,805 5.2 
Change in valuation allowance327,367 (246.0)— — — — 
State income taxes, net of federal benefit(2,893)2.2 (1,560)2.3 1,189 3.5 
Tax credits(5,366)4.0 (5,474)8.1 (5,222)(15.1)
Other(183)0.2 (252)0.4 220 0.6 
Income tax expense (benefit) at effective tax rate$299,222 (224.8)%$(14,550)21.5 %$5,606 16.3 %
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)
20242023
Deferred tax assets:
Net operating loss carryforwards$110,724 $109,059 
Tax credit carryforwards101,895 96,610 
Stock-based compensation4,531 5,966 
Allowance for returns1,706 1,823 
Intangible assets1,873 2,727 
Depreciation and amortization1,177 988 
Operating lease liabilities6,784 8,326 
Capitalized research and development costs80,310 55,266 
Accruals and reserves21,944 20,540 
Total deferred tax assets330,944 301,305 
Valuation allowance(327,367)— 
Net deferred tax assets, net of valuation allowance$3,577 $301,305 
Deferred tax liabilities:
Operating lease right-of-use assets$(3,424)$(4,321)
Total deferred tax liabilities(3,424)(4,321)
Net deferred tax assets$153 $296,984 
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)
202420232022
Balance at January 1$25,836 $23,414 $21,330 
Increase related to current year tax positions4,665 4,948 2,543 
Decrease related to prior year tax positions(3,482)(2,526)(459)
Balance at December 31$27,019 $25,836 $23,414 
v3.25.1
Commitments, contingencies and guarantees (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Components of Lease Expense [Text Block]
The components of net lease cost, which were primarily recorded in operating expenses, were as follows:
Year ended December 31,
(in thousands)202420232022
Operating lease cost (1)
$10,262 $11,045 $11,060 
Sublease income(2,817)(2,281)(2,907)
Right-of-use asset impairment cost3,276 — — 
Net lease cost$10,721 $8,764 $8,153 
(1)    Operating lease costs include immaterial variable lease costs and amounts related to restructuring charges, which are discussed in Note 12 Restructuring charges.

Supplemental cash flow information related to leases was as follows:
Year ended December 31,
(in thousands)202420232022
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows from operating leases$13,737 $12,217 $14,595 
Right-of-use assets obtained in exchange for operating lease liabilities4,801 3,943 1,221 
Operating lease modification to decrease right-of-use assets— — (232)

Supplemental balance sheet information related to leases was as follows:
December 31, 2024December 31, 2023
Weighted-average remaining lease term (in years) - operating leases3.103.05
Weighted-average discount rate - operating leases6.3%6.2%
Schedule of Maturities of Lease Liabilities [Text Block]
As of December 31, 2024, maturities of operating lease liabilities were as follows:
(in thousands)December 31, 2024
2025$12,472 
202613,270 
20272,148 
2028811 
2029864 
Thereafter2,918 
Total lease payments32,483 
Less: Imputed interest(3,480)
Present value of lease liabilities$29,003 
v3.25.1
Concentrations of risk and geographic information (Tables)
 12 Months Ended
Dec. 31, 2024
Concentration Risk [Line Items]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The following table summarizes the Company’s accounts receivables sold, without recourse, and factoring fees paid:
Year ended December 31,
(in thousands)
202420232022
Accounts receivable sold$88,357 $103,990 $124,350 
Factoring fees1,287 1,555 1,163 
Schedule of Revenue by Geographic Region
Revenue by geographic region, based on ship-to locations, was as follows:
Year ended December 31,2024 vs 20232023 vs 2022
(in thousands)
202420232022
% Change
% Change
Americas$378,934 $469,675 $521,270 (19)%(10)%
Europe, Middle East and Africa (EMEA)258,976 290,814 300,870 (11)(3)
Asia and Pacific (APAC)163,563 244,970 271,401 (33)(10)
Total revenue$801,473 $1,005,459 $1,093,541 (20)%(8)%
Accounts Receivable [Member]  
Concentration Risk [Line Items]  
Schedules of Customer Concentration by Risk Factor
Customers who represented 10% or more of the Company’s net accounts receivable balance were as follows:
December 31, 2024December 31, 2023
Customer A26%30%
Customer B*11%
Sales Revenue [Member]  
Concentration Risk [Line Items]  
Schedules of Customer Concentration by Risk Factor hird-party customers who represented 10% or more of the Company’s total revenue in 2024, 2023, or 2022.
v3.25.1
Summary of business and significant accounting policies (Details) - USD ($)
 12 Months Ended
Nov. 20, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Nov. 24, 2020
Property, Plant and Equipment [Line Items]          
Allowance for Doubtful Other Receivables, Current   $ 0 $ 500,000    
Operating Lease, Impairment Loss   3,276,000 0 $ 0  
Contract with Customer, Liability   58,300,000 59,100,000    
Deferred Revenue, Revenue Recognized   55,800,000 57,200,000    
Advertising Expense   33,300,000 44,100,000 40,800,000  
Accumulated deficit   $ (681,607,000) (249,296,000)    
Product Warranty Liability [Line Items]          
Warranty Period   12 months      
Gain (Loss) on Extinguishment of Debt $ 3,100,000 $ 0 (3,092,000) 0  
Revenues   801,473,000 1,005,459,000 1,093,541,000  
Cash and cash equivalents   $ 102,811,000 222,708,000 223,735,000  
Policy Text Block [Abstract]          
Point of Purchase Policy Text Block  
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 Statement of Cash Flows.
      
Interest Income, Other   $ 4,700,000 9,900,000 3,100,000  
Payments for Restructuring   $ 12,600,000      
RevenueIncreaseDecrease   (20.30%)      
Operating Income (Loss)   $ (135,033,000) (75,463,000) 38,955,000  
Net Cash Provided by (Used in) Operating Activities   (125,141,000) (32,863,000) 5,747,000  
Gain (Loss) on Extinguishment of Debt $ 3,100,000 0 (3,092,000) 0  
Revenues   $ 801,473,000 1,005,459,000 1,093,541,000  
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, 2024, 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 and the delay of the Company’s next generation 360-camera. During the year ended December 31, 2024, revenue declined 20.3% from the prior year period which resulted in operating losses of $135.0 million and operating cash outflows of $125.1 million, including the payment of $12.6 million related to 2024 restructuring plans. As of December 31, 2024, the Company had $102.8 million in cash and cash equivalents and an accumulated deficit of $681.6 million. The 2025 Notes with an outstanding principal of $93.8 million matures on November 15, 2025, unless earlier repurchased or converted at the option of the holder into shares of Class A common stock under certain circumstances. The Company also had $44.8 million available to draw from its 2021 Credit Agreement as of December 31, 2024 and in the ordinary course of business, has drawn $25.0 million in February 2025.
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 taking into account the restructuring actions already implemented in 2024. 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 including payment of the 2025 Notes upon maturity. The 2025
operational plan is structured to i) realize the savings in wages and benefits from the headcount reductions as part of the 2024 restructuring plans; ii) lower research and development costs from the completion of a next generation system-on-chip and rationalized product roadmap, and the reduction of sales and marketing expenses to a reduced level consistent with the business size; and iii) effectively manage working capital, specifically the Company’s intention to manage inventory levels to better align with its current run rates and seasonality of the business, and the Company’s intention to continue to effectively manage the collection of accounts receivables.
The Company estimates such actions will be sufficient to allow it to maintain liquidity and operations in the ordinary course, including payment of the 2025 Notes upon maturity on November 15, 2025, 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, further inflation, rising interest rates, ongoing recessionary conditions or 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. Additional actions within the Company’s control to maintain liquidity and operations include further reducing discretionary spending in all areas of the business and further headcount restructuring actions. 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.
      
Cash and cash equivalents   $ 102,811,000 $ 222,708,000 $ 223,735,000  
Reporting Unit, Percentage of Fair Value in Excess of Carrying Amount   10.00%      
Market Capitalization Sensitivity   6.00%      
Convertible Senior Notes due 2025 [Member]          
Policy Text Block [Abstract]          
Debt Instrument, Issued, Principal   $ 93,800,000      
Subscription and Service Revenue          
Product Warranty Liability [Line Items]          
Revenue from Contract with Customer, Excluding Assessed Tax   107,000,000.0      
Policy Text Block [Abstract]          
Revenue from Contract with Customer, Excluding Assessed Tax   $ 107,000,000.0      
Subscription and Service Revenue | Revenue from Contract with Customer Benchmark | Product Concentration Risk          
Product Warranty Liability [Line Items]          
Concentration risk   13.30%      
Policy Text Block [Abstract]          
Concentration risk   13.30%      
Convertible Senior Notes due 2025 [Member]          
Property, Plant and Equipment [Line Items]          
Interest rate         1.25%
Debt Instrument         $ 143,800,000
Europe [Member]          
Product Warranty Liability [Line Items]          
Warranty Period   24 months      
v3.25.1
Business Acquisitions (Details) - USD ($)
$ in Thousands
Feb. 27, 2024
Dec. 31, 2024
Dec. 31, 2023
Business Acquisition [Line Items]      
Identifiable intangible assets $ 7,500    
Goodwill 5,900 $ 152,351 $ 146,459
forcite      
Business Acquisition [Line Items]      
Business Combination, Consideration Transferred $ 14,000    
v3.25.1
Fair value measurements (Details) - USD ($)
$ in Thousands
Nov. 20, 2023
Dec. 31, 2024
Dec. 31, 2023
Nov. 24, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash   $ 60,400 $ 69,900  
Marketable securities   0 23,867  
Repayments of Convertible Debt $ 50,000      
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   82,500    
Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents   42,436 152,760  
Marketable securities   0 23,867  
Fair Value, Recurring [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents   42,436 152,760  
Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents   42,436 152,760  
Marketable securities   0 0  
Fair Value, Recurring [Member] | Level 1 [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents   42,436 152,760  
Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents   0 0  
Marketable securities   0 23,867  
Fair Value, Recurring [Member] | Level 2 [Member] | Money Market Funds [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Cash and Cash Equivalents   0 0  
Convertible Senior Notes due 2025 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Debt Instrument       $ 143,800
Convertible Senior Notes due 2025 [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Fair value of convertible senior notes     82,300  
Corporate Debt Securities [Member] | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 3,978  
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 0  
Corporate Debt Securities [Member] | Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 3,978  
Commercial Paper | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 7,942  
Commercial Paper | Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 0  
Commercial Paper | Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 7,942  
US Government Debt Securities [Member] | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 3,985  
US Government Debt Securities [Member] | Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 0  
US Government Debt Securities [Member] | Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 3,985  
US Treasury Securities | Fair Value, Recurring [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 7,962  
US Treasury Securities | Fair Value, Recurring [Member] | Level 1 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   0 0  
US Treasury Securities | Fair Value, Recurring [Member] | Level 2 [Member]        
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]        
Marketable securities   $ 0 $ 7,962  
v3.25.1
Condensed consolidated financial statement details - Cash, Cash Equivalents and Marketable Securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Cash and Cash Equivalents [Line Items]      
Cash $ 60,400 $ 69,900  
Cash and cash equivalents $ 102,811 $ 222,708 $ 223,735
v3.25.1
Condensed consolidated financial statement details - Inventory (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Components $ 19,407 $ 20,311
Finished goods 101,309 85,955
Total inventory $ 120,716 $ 106,266
v3.25.1
Condensed consolidated financial statement details - Property and Equipment, Net (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Gross property and equipment $ 86,741 $ 88,126  
Less: Accumulated depreciation and amortization (78,045) (79,440)  
Property and equipment, net 8,696 8,686  
Depreciation 4,900 6,200 $ 8,500
Leasehold Improvements [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 23,996 23,818  
Production, engineering and other equipment [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 38,018 38,574  
Tooling [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 6,810 5,678  
Computers and software [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 12,574 13,896  
Furniture and office equipment [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 3,763 4,575  
Tradeshow Equipment and other [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment 1,424 1,502  
Construction in Progress [Member]      
Property, Plant and Equipment [Line Items]      
Gross property and equipment $ 156 $ 83  
v3.25.1
Condensed consolidated financial statement details - Intangible Assets and Goodwill (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Feb. 27, 2024
Finite-Lived Intangible Assets, Net [Abstract]        
Finite-Lived Intangible Assets, Gross $ 58,566 $ 51,066    
Finite-Lived Intangible Assets, Accumulated Amortization (52,628) (51,066)    
Finite-Lived Intangible Assets, Net, Total 5,938 0    
Intangible Assets, Gross (Excluding Goodwill) 58,581 51,081    
Intangible assets, net 5,953 15    
Indefinite-lived Intangible Assets [Roll Forward]        
Amortization of intangible assets 1,600 0 $ 100  
Goodwill 152,351 146,459   $ 5,900
Indefinite-Lived Trademarks 15 15    
Finite-Lived Intangible Assets [Line Items]        
Intangible Assets, Net (Excluding Goodwill) 5,953 15    
Amortization of intangible assets $ 1,600 $ 0 $ 100  
v3.25.1
Condensed consolidated financial statement details - Future Amortization (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Finite-Lived Intangible Asset, Expected Amortization, Year Two $ 1,875  
Finite-Lived Intangible Assets, Net, Total 5,938 $ 0
Finite-Lived Intangible Assets [Line Items]    
Finite-Lived Intangible Asset, Expected Amortization, Year Two 1,875  
Finite-Lived Intangible Assets, Amortization Expense, Year Three 1,875  
Finite-Lived Intangible Asset, Expected Amortization, Year Four 313  
Finite-Lived Intangible Asset, Expected Amortization, Year Five 0  
2020 1,875  
Finite-Lived Intangible Assets, Net 5,938 $ 0
Finite-Lived Intangible Asset, Expected Amortization, Year One $ 1,875  
v3.25.1
Condensed consolidated financial statement details - Goodwill (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Feb. 27, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Goodwill $ 152,351 $ 5,900 $ 146,459
v3.25.1
Condensed consolidated financial statement details - Other Assets (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
POP Displays $ 14,715 $ 6,254  
Deposits and other 7,550 8,233  
Other long-term assets 28,983 311,486  
Amortization of intangible assets 1,600 0 $ 100
Amortization 5,100 2,000 2,100
Intangible Assets, Net (Excluding Goodwill) 5,953 15  
Deferred Income Taxes and Other Assets, Noncurrent 765 296,984  
Property, Plant and Equipment [Line Items]      
Segment, Expenditure, Addition to Long-Lived Assets $ 13,600 $ 6,500 $ 1,500
v3.25.1
Condensed consolidated financial statement details - Product Warranty (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Beginning balances $ 8,759 $ 8,319 $ 8,842
Charged to cost of revenue 10,822 19,724 18,573
Settlements of warranty claims (13,374) (19,284) (19,096)
Ending balances 6,207 8,759 $ 8,319
Product Warranty Accrual, Noncurrent 300 500  
Product Warranty Accrual, Current $ 5,930 $ 8,270  
v3.25.1
Condensed consolidated financial statement details - Accrued Liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Product Warranty Accrual, Current $ 5,930 $ 8,270
Employee related liabilities 7,401 18,969
Accrued sales incentives 53,997 42,752
Other Accounts Payable and Accrued Liabilities 26,060 21,214
Customer Refund Liability, Current 4,913 6,389
Customer deposits 2,694 1,933
Purchase Commitment, Remaining Minimum Amount Committed 1,504 899
Inventory received 2,010 1,745
Other 6,260 7,878
Accrued expenses and other current liabilities $ 110,769 $ 110,049
v3.25.1
Financing Arrangements (Details)
 3 Months Ended 12 Months Ended
Nov. 20, 2023
USD ($)
Jan. 22, 2021
USD ($)
Nov. 24, 2020
USD ($)
$ / shares
Dec. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Feb. 28, 2025
USD ($)
Line of Credit Facility [Line Items]                
Long-term debt       $ 0 $ 0 $ 92,615,000    
Operating Lease, Impairment Loss         3,276,000 0 $ 0  
Debt Instrument, Covenant Compliance, Asset Coverage Ratio   1.50            
Adjustments to Additional Paid in Capital, Capped Call Option, Issuance Costs     $ 10,200,000          
Option Indexed To Issuers Equity, cap price     12.0925          
Interest Paid, Including Capitalized Interest, Operating and Investing Activities         1,286,000 1,976,000 4,258,000  
Gain (Loss) on Extinguishment of Debt $ 3,100,000       0 (3,092,000) 0  
Debt Instrument, Repurchase Amount 46,300,000              
Debt Instrument, Repurchased Face Amount $ 49,400,000              
Letters of Credit Outstanding, Amount       5,200,000 5,200,000      
Convertible Senior Notes due 2025 [Member]                
Line of Credit Facility [Line Items]                
Convertible Debt Principal Amount Conversion       $ 93,800,000 $ 93,800,000      
Effective rate       1.90% 1.90%      
Long-term debt       $ 93,200,000 $ 93,200,000      
Interest Expense, Debt         1,200,000      
Amortization of Debt Issuance Costs         600,000      
2021 Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Line of Credit, Current               $ 25,000,000.0
2021 Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Credit agreement, current borrowing capacity   $ 50,000,000.0            
Minimum Fixed Charge Coverage Ratio, minimum balance   10,000,000.0            
Line of Credit Facility, Unused Capacity, Minimum Liquidity Requirement, Amount   55,000,000.0            
Line of Credit Facility, Unused Capacity, Qualified Cash   $ 40,000,000.0            
Line of Credit Facility, Remaining Borrowing Capacity       44,800,000 44,800,000      
Line of Credit Facility, Remaining Borrowing Capacity       $ 44,800,000 44,800,000      
Convertible Senior Notes due 2025 [Member]                
Line of Credit Facility [Line Items]                
Debt Instrument     $ 143,800,000          
Interest rate     1.25%          
Debt Instrument, Convertible, Conversion Ratio     107.1984          
Convertible Debt Principal Amount Conversion     $ 1,000     $ 93,800,000    
Debt Instrument, Convertible, Conversion Price | $ / shares     $ 9.3285          
Effective rate           2.80%    
Percentage of conversion price of notes       130.00%        
Percentage of trading price of notes       98.00%        
Long-term debt           $ 92,600,000    
Interest Expense, Debt           1,700,000 1,800,000  
Amortization of Debt Issuance Costs           900,000 $ 1,000,000.0  
Convertible Senior Notes due 2025 [Member] | Long-term Debt [Member]                
Line of Credit Facility [Line Items]                
Debt Issuance Costs, Net           $ 1,200,000    
Convertible Senior Notes due 2025 [Member] | Short-term Debt                
Line of Credit Facility [Line Items]                
Debt Issuance Costs, Net       $ 600,000 $ 600,000      
Base Rate [Member] | Minimum [Member] | 2021 Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Basis Spread on Variable Rate   0.50%            
Base Rate [Member] | Maximum [Member] | 2021 Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Basis Spread on Variable Rate   1.00%            
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Minimum [Member] | 2021 Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Basis Spread on Variable Rate   1.50%            
Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | Maximum [Member] | 2021 Credit Facility [Member]                
Line of Credit Facility [Line Items]                
Basis Spread on Variable Rate   2.00%            
v3.25.1
Stockholders' equity (Details)
 12 Months Ended
Dec. 31, 2024
USD ($)
shares
$ / shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Dec. 31, 2022
USD ($)
Feb. 09, 2023
USD ($)
Jan. 27, 2022
USD ($)
Dec. 31, 2021
USD ($)
Class of Stock [Line Items]            
Stock options outstanding (shares) 2,327,000 2,684,000        
Common stock available for future grants (shares) 40,222,000          
Stockholders' Equity Note, Outstanding Shares Less than 10% of Aggregate Shares Outstanding, Conversion Ratio 1          
Stockholders' Equity Attributable to Parent | $ $ 151,689,000 $ 555,846,000 $ 611,559,000     $ 615,914,000
Stock Repurchase Program, Authorized Amount | $       $ 40,000,000.0 $ 100,000,000.0  
Stock Repurchase Program, Remaining Authorized Repurchase Amount | $ $ 60,400,000          
Treasury Stock, Shares, Acquired 0 9,931        
Treasury Stock Acquired, Average Cost Per Share | $ / shares $ 0 $ 4.03        
Stock Repurchased During Period, Value | $ $ 0 $ 40,000,000 39,619,000      
Treasury Stock, Value, Acquired, Cost Method | $   $ 40,000,000 $ 39,618,000      
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term   6 years 1 month 6 days 6 years 1 month 6 days      
Treasury Stock, Common            
Class of Stock [Line Items]            
Stockholders' Equity Attributable to Parent | $ $ (193,231,000) $ (193,231,000) $ (153,231,000)     $ (113,613,000)
Common Class A [Member]            
Class of Stock [Line Items]            
Common stock authorized (shares) 500,000,000 500,000,000        
Common stock outstanding (shares) 129,196,000 123,638,000        
Common Stock, Voting Rights, Number 1          
Common Stock, Conversion Ratio 1          
Common Stock, Shares, Issued 129,196,000 123,638,000        
Common Stock, Voting Rights one          
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) 11,243,000 11,494,000        
Performance Shares [Member]            
Class of Stock [Line Items]            
Restricted stock units outstanding (shares) 286,000 829,000        
Performance stock units outstanding (shares) 1,817,000          
Common Stock            
Class of Stock [Line Items]            
Common stock available for future grants (shares) 24,835,000          
Equity Option [Member]            
Class of Stock [Line Items]            
Volatility Rate, Minimum   59.00% 60.00%      
Volatility Rate, Maximum   60.00% 62.00%      
v3.25.1
Employee benefit plans - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
ESPP weighted average purchase price of shares purchased (usd per share)   $ 1.56 $ 4.10 $ 6.72
Unearned stock-based compensation, expected recognition period 2 years 7 days      
Share-based Payment Arrangement, Expense, Tax Benefit   $ 0 $ 9,300,000 $ 8,600,000
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent   100.00%    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value   $ 800,000 $ 1,400,000 $ 1,500,000
Stock Issued During Period, Shares, Employee Stock Purchase Plans   1,400,000 900,000 700,000
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent   100.00%    
Defined Benefit Plan, Plan Assets, Contributions by Employer   $ 1,200,000 $ 900,000 $ 800,000
Stock Repurchased During Period, Shares     9,931,000 5,967,000
Treasury Stock Acquired, Average Cost Per Share   $ 0 $ 4.03  
Stock Repurchased During Period, Value   $ 0 $ 40,000,000 $ 39,619,000
Defined Contribution Plan, Minimum Annual Contributions Per Employee, Percent   1    
RSUs [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares granted (shares)   8,432,000    
Weighted average price of shares granted (usd per share)   $ 1.76 $ 5.13 $ 7.68
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value   $ 30,600,000 $ 34,500,000 $ 30,800,000
Performance Shares [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Shares granted (shares)   1,531,000    
Weighted average price of shares granted (usd per share)   $ 1.70    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value   $ 3,500,000 3,700,000 4,800,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value   $ 1.70 $ 5.79 $ 8.70
Employee Stock Purchase Plan Shares [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Purchase Price of Common Stock, Percent   85.00%    
Stock Options, ESPP and Restricted Stock Units (RSUs) [Member]        
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]        
Unearned stock-based compensation costs $ 28,900,000 $ 28,900,000    
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    
v3.25.1
Employee benefit plans - Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Shares (in thousands)        
Outstanding at beginning of period (shares)   2,684    
Granted (shares)   0    
Exercised (shares)   0    
Forfeited/Cancelled (shares)   (357)    
Outstanding at end of period (shares) 2,684 2,327 2,684  
Weighted-average exercise price        
Outstanding at beginning of period (in dollars per share)   $ 8.43    
Granted (usd per share)   0    
Exercised (usd per share)   0    
Outstanding at end of period (in dollars per share) $ 8.43 $ 7.43 $ 8.43  
Aggregate intrinsic value (in thousands) $ 0 $ 0 $ 0  
Vested and Expected to Vest (shares)   2,327    
Vested and Expected to Vest - Weighted Average Exercise Price (in dollars per share)   $ 7.43    
Vested and Expected to Vest- Weighted Average Remaining Contractual Term   4 years 7 months 2 days    
Vested and Expected to Vest - Aggregate Intrinsic Value   $ 0    
Exercisable (shares)   2,099    
Exercisable - Weighted average exercise price (in dollars per share)   $ 7.65    
Exercisable - Weighted Average Remaining Contractual Term   4 years 2 months 12 days    
Exercisable - Aggregate intrinsic value   $ 0    
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price   $ 14.96    
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value   $ 0 $ 2.14 $ 5.05
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value   $ 800,000 $ 1,400,000 $ 1,500,000
Weighted Average Remaining Contractual Term (in years) 5 years 29 days 4 years 7 months 2 days    
v3.25.1
Employee benefit plans - Restricted Stock Units Activity (Details) - $ / shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
RSUs [Member]      
Shares (in thousands)      
Non-vested shares at beginning of period (shares) 11,494    
Granted (shares) 8,432    
Vested (shares) (5,290)    
Forfeited (shares) (3,393)    
Non-vested shares at end of period (shares) 11,243 11,494  
Weighted-average grant date fair value      
Non-vested shares at beginning of period (in dollars per share) $ 5.94    
Weighted average price of shares granted (usd per share) 1.76 $ 5.13 $ 7.68
Weighted average price of shares vested (usd per share) 5.79    
Weighted average price of shares forfeited (usd per share) 4.27    
Non-vested shares at end of period (in dollars per share) $ 3.38 $ 5.94  
Performance Shares [Member]      
Shares (in thousands)      
Non-vested shares at beginning of period (shares) 829    
Granted (shares) 1,531    
Vested (shares) (531)    
Forfeited (shares) (1,543)    
Non-vested shares at end of period (shares) 286 829  
Weighted-average grant date fair value      
Non-vested shares at beginning of period (in dollars per share) $ 6.40    
Weighted average price of shares granted (usd per share) 1.70    
Weighted average price of shares vested (usd per share) 6.59    
Weighted average price of shares forfeited (usd per share) 1.73    
Non-vested shares at end of period (in dollars per share) $ 6.06 $ 6.40  
v3.25.1
Employee benefit plans - Fair Value Assumptions for Stock Options (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Expected Term 0.5 0.5 0.5
Interest Rate, Maximum   5.60%  
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]      
Expected Term 0.5 0.5 0.5
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Expected Term 0.5 0.5 0.5
Equity Option [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Volatility Rate, Minimum   59.00% 60.00%
Dividend yield   0.00% 0.00%
Interest Rate, Minimum   3.50% 2.00%
Interest Rate, Maximum   4.50% 3.90%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Volatility Rate, Maximum   60.00% 62.00%
Dividend yield   0.00% 0.00%
Volatility Rate, Maximum   60.00% 62.00%
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Volatility Rate, Minimum   59.00% 60.00%
Volatility Rate, Maximum   60.00% 62.00%
Employee Stock Purchase Plan Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Volatility Rate, Minimum 57.00% 39.00% 39.00%
Dividend yield 0.00% 0.00% 0.00%
Interest Rate, Minimum 5.00% 5.00% 0.70%
Interest Rate, Maximum 5.30%   3.10%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Volatility Rate, Maximum 59.00% 42.00% 55.00%
Dividend yield 0.00% 0.00% 0.00%
Volatility Rate, Maximum 59.00% 42.00% 55.00%
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Volatility Rate, Minimum 57.00% 39.00% 39.00%
Volatility Rate, Maximum 59.00% 42.00% 55.00%
v3.25.1
Employee benefit plans - Fair Value Assumptions for Restricted Stock Units and ESPP (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Interest Rate, Maximum   5.60%  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Expected Term 0.5 0.5 0.5
Interest Rate, Maximum   5.60%  
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Interest Rate, Maximum   5.60%  
Employee Stock Purchase Plan Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Volatility Rate, Minimum 57.00% 39.00% 39.00%
Dividend yield 0.00% 0.00% 0.00%
Volatility Rate, Maximum 59.00% 42.00% 55.00%
Interest Rate, Minimum 5.00% 5.00% 0.70%
Interest Rate, Maximum 5.30%   3.10%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Interest Rate, Maximum 5.30%   3.10%
Dividend yield 0.00% 0.00% 0.00%
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items]      
Interest Rate, Minimum 5.00% 5.00% 0.70%
Interest Rate, Maximum 5.30%   3.10%
v3.25.1
Employee benefit plans - Allocation of Stock-based Compensation Expense (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense   $ 29,132 $ 41,479 $ 38,991
Share-based Payment Arrangement, Expense, Tax Benefit   0 9,300 8,600
Unearned stock-based compensation, expected recognition period 2 years 7 days      
Cost of Revenue [Member]        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense   1,343 1,955 1,805
Research and Development [Member]        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense   14,411 19,062 17,221
Selling and Marketing Expense [Member]        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense   5,804 8,736 8,173
General and Administrative [Member]        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total stock-based compensation expense   $ 7,574 $ 11,726 $ 11,792
v3.25.1
Employee benefit plans Performance Stock Units activity (Details) - USD ($)
$ / shares in Units, shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Performance Shares [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock units outstanding (shares) 286 829  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 6.06 $ 6.40  
Granted (shares) 1,531    
Weighted average price of shares granted (usd per share) $ 1.70    
Vested (shares) (531)    
Weighted average price of shares vested (usd per share) $ 6.59    
Forfeited (shares) (1,543)    
Weighted average price of shares forfeited (usd per share) $ 1.73    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 3,500,000 $ 3,700,000 $ 4,800,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 3,500,000 $ 3,700,000 $ 4,800,000
Restricted Stock Units (RSUs) [Member]      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Restricted stock units outstanding (shares) 11,243 11,494  
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value $ 3.38 $ 5.94  
Granted (shares) 8,432    
Weighted average price of shares granted (usd per share) $ 1.76 $ 5.13 $ 7.68
Vested (shares) (5,290)    
Weighted average price of shares vested (usd per share) $ 5.79    
Forfeited (shares) (3,393)    
Weighted average price of shares forfeited (usd per share) $ 4.27    
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 30,600,000 $ 34,500,000 $ 30,800,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Fair Value $ 30,600,000 $ 34,500,000 $ 30,800,000
v3.25.1
Net loss per share Additional Information (Details)
 12 Months Ended
Dec. 31, 2024
shares
Nov. 24, 2020
USD ($)
$ / shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Conversion of Stock maxium percent of outstanding shares in class of total outstanding shares 10.00%  
Option Indexed To Issuers Equity, cap price | $   $ 12.0925
Conversion of Stock maxium percent of outstanding shares in class of total outstanding shares 10.00%  
Common Class A [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Common Stock, Voting Rights, Number 1  
Conversion of Stock, Shares Issued 1  
Common Class B [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Common Stock, Voting Rights, Number 10  
Convertible Senior Notes due 2025 [Member]    
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]    
Debt Instrument | $   $ 143,800,000
Interest rate   1.25%
Debt Instrument, Convertible, Conversion Price | $ / shares   $ 9.3285
v3.25.1
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, 2024
Dec. 31, 2023
Dec. 31, 2022
Numerator:      
Net income (loss) $ (432,311) $ (53,183) $ 28,847
Interest on Convertible Debt, Net of Tax 0 0 3,055
Net Income (Loss) Attributable to Parent, Diluted $ (432,311) $ (53,183) $ 31,902
Denominator:      
Weighted Average Number of Shares Outstanding, Basic 153,113 153,348 156,181
Weighted Average Number Diluted Shares Outstanding Adjustment 0 0 22,098
Earnings Per Share, Diluted $ (2.82) $ (0.35) $ 0.18
Weighted Average Number of Shares Outstanding, Diluted 153,113 153,348 178,279
Earnings Per Share, Basic $ (2.82) $ (0.35) $ 0.18
v3.25.1
Net loss per share - Antidilutive Securities Excluded from Computation of Net Income per Share (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (shares) 26,257 30,647 7,495
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (shares) 26,257 30,647 7,495
Convertible Debt Securities      
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (shares) 10,050 14,808 0
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (shares) 10,050 14,808 0
Share-based Payment Arrangement      
Earnings Per Share [Abstract]      
Antidilutive securities excluded from computation of earnings per share (shares) 16,207 15,839 7,495
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Antidilutive securities excluded from computation of earnings per share (shares) 16,207 15,839 7,495
v3.25.1
Income taxes - Income Tax Expense (Details) - USD ($)
 12 Months Ended
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]        
Income tax (benefit) expense   $ 299,222,000 $ (14,550,000) $ 5,606,000
Effective tax rate   (224.80%) 21.50% 16.30%
Current Federal Tax Expense (Benefit)   $ 1,000 $ 3,000 $ 2,000
Current State and Local Tax Expense (Benefit)   (28,000) 162,000 818,000
Current Foreign Tax Expense (Benefit)   2,478,000 3,176,000 2,076,000
Current Income Tax Expense (Benefit)   2,451,000 3,341,000 2,896,000
Deferred Federal Income Tax Expense (Benefit)   222,087,000 (14,018,000) 5,039,000
Deferred State and Local Income Tax Expense (Benefit)   74,886,000 (3,828,000) (2,312,000)
Deferred Foreign Income Tax Expense (Benefit)   (202,000) (45,000) (17,000)
Deferred Income Tax Expense (Benefit)   296,771,000 (17,891,000) 2,710,000
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions   3,482,000 2,526,000 459,000
Stock-based compensation   $ 5,629,000 $ 3,434,000 $ (1,192,000)
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Percent   (0.30%) (0.80%) 5.20%
Effective Income Tax Rate Reconciliation, Nondeductible Expense, Amount   $ 363,000 $ 557,000 $ 1,805,000
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 294,900,000      
Effective Income Tax Rate Reconciliation, Tax Credit, Amount   $ (5,366,000) $ (5,474,000) $ (5,222,000)
Effective Income Tax Rate Reconciliation, Other Adjustments, Percent   4.00% 8.10% (15.10%)
v3.25.1
Income taxes - Narrative (Details) - USD ($)
 12 Months Ended
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Operating Loss Carryforwards [Line Items]          
Deferred Tax Assets, Operating Loss Carryforwards, Domestic   $ 396,600,000      
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions   4,665,000 $ 4,948,000 $ 2,543,000  
Income (Loss) from Continuing Operations before Income Taxes, Domestic   (142,195,000) (79,514,000) 26,215,000  
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 294,900,000        
Valuation allowance   327,367,000 0    
Income tax (benefit) expense   299,222,000 (14,550,000) 5,606,000  
Loss before income taxes   (133,089,000) (67,733,000) 34,453,000  
Income tax (benefit) expense   299,222,000 (14,550,000) 5,606,000  
Loss before income taxes   $ (133,089,000) $ (67,733,000) $ 34,453,000  
Effective tax rate   (224.80%) 21.50% 16.30%  
Current Foreign Tax Expense (Benefit)   $ 2,478,000 $ 3,176,000 $ 2,076,000  
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount $ 294,900,000        
Unrecognized Tax Benefits, Increase Resulting from Current Period Tax Positions   4,665,000 4,948,000 2,543,000  
Unrecognized Tax Benefits, Decrease Resulting from Prior Period Tax Positions   (3,482,000) (2,526,000) (459,000)  
Unrecognized Tax Benefits   27,019,000 25,836,000 23,414,000 $ 21,330,000
Accruals and reserves   21,944,000 20,540,000    
Total deferred tax assets   330,944,000 301,305,000    
Valuation allowance   (327,367,000) 0    
Total deferred tax assets, net of valuation allowance   3,577,000 301,305,000    
Unrecognized Tax Benefits that Would Impact Effective Tax Rate   11,600,000 10,900,000 9,800,000  
Income (Loss) from Continuing Operations before Income Taxes, Foreign   9,106,000 11,781,000 $ 8,238,000  
Net operating loss carryforwards   110,724,000 109,059,000    
Tax credit carryforwards   101,895,000 96,610,000    
Stock-based compensation   4,531,000 5,966,000    
Allowance for returns   1,706,000 1,823,000    
Intangible assets   1,873,000 2,727,000    
Deferred Tax Assets, Operating Loss Carryforwards, Domestic   396,600,000      
Significant Change in Unrecognized Tax Benefits is Reasonably Possible, Amount of Unrecorded Benefit   2,900,000      
Deferred Tax Assets, Property, Plant and Equipment   1,177,000 988,000    
Deferred Tax Liabilities, Other   3,424,000 4,321,000    
Deferred Tax Liabilities, Gross, Total   3,424,000 4,321,000    
Capitalized research and development costs   80,310,000 $ 55,266,000    
Domestic Tax Authority [Member]          
Operating Loss Carryforwards [Line Items]          
Tax Credit Carryforward, Amount   57,200,000      
Tax Credit Carryforward, Amount   57,200,000      
california [Domain]          
Operating Loss Carryforwards [Line Items]          
Tax Credit Carryforward, Amount   56,600,000      
Tax Credit Carryforward, Amount   56,600,000      
california [Domain]          
Operating Loss Carryforwards [Line Items]          
Deferred Tax Assets, Operating Loss Carryforwards, State and Local   254,600,000      
Deferred Tax Assets, Operating Loss Carryforwards, State and Local   254,600,000      
States Other than CA [Domain]          
Operating Loss Carryforwards [Line Items]          
Deferred Tax Assets, Operating Loss Carryforwards, State and Local   182,800,000      
Deferred Tax Assets, Operating Loss Carryforwards, State and Local   $ 182,800,000      
v3.25.1
Income taxes - Deferred Tax Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2024
Dec. 31, 2023
Deferred tax assets:    
Net operating loss carryforwards $ 110,724 $ 109,059
Tax credit carryforwards 101,895 96,610
Stock-based compensation 4,531 5,966
Allowance for returns 1,706 1,823
Intangible assets 1,873 2,727
Deferred Tax Assets, Operating lease liabilities 6,784 8,326
Deferred Tax Assets, Property, Plant and Equipment 1,177 988
Accruals and reserves 21,944 20,540
Total deferred tax assets 330,944 301,305
Valuation allowance (327,367) 0
Total deferred tax assets, net of valuation allowance 3,577 301,305
Deferred Tax Liabilities Operating Lease Liability (3,424) (4,321)
Deferred Tax Liabilities, Gross, Total 3,424 4,321
Deferred Tax Assets, Net, Total $ 153 $ 296,984
v3.25.1
Income taxes - Reconciliation (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Abstract]      
Tax at federal statutory rate $ (27,949,000) $ (14,224,000) $ 7,234,000
Tax at federal statutory rate 21.00% 21.00% 21.00%
Change in valuation allowance $ 327,367,000 $ 0 $ 0
Change in valuation allowance (246.00%) 0.00% 0.00%
Impact of foreign operations $ 2,254,000 $ 2,969,000 $ 1,572,000
Impact of foreign operations (1.70%) (4.40%) 4.60%
Stock-based compensation $ 5,629,000 $ 3,434,000 $ (1,192,000)
Stock-based compensation 4.20% 5.10% 3.50%
State taxes, net of federal benefits $ (2,893,000) $ (1,560,000) $ 1,189,000
State taxes, net of federal benefits 2.20% 2.30% 3.50%
Other $ (183,000) $ (252,000) $ 220,000
Other 0.20% 0.40% 0.60%
Income tax (benefit) expense $ 299,222,000 $ (14,550,000) $ 5,606,000
Effective tax rate (224.80%) 21.50% 16.30%
v3.25.1
Commitments, contingencies and guarantees (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Long-term Purchase Commitment [Line Items]      
Operating Lease, Cost $ 10,262 $ 11,045 $ 11,060
Operating Lease, Payments 13,737 12,217 14,595
Finance Lease, Liability, to be Paid, Year Two 13,270    
Finance Lease, Liability, to be Paid, Year Three 2,148    
Finance Lease, Liability, to be Paid, Year Four 811    
Finance Lease, Liability, to be Paid, Year Five 864    
Lessee, Operating Lease, Liability, Payments, Due after Year Five 2,918    
Lessee, Operating Lease, Liability, Payments, Due (32,483)    
us-gaap_Lessee Operating Lease Liability Undiscounted Excess Amount (3,480)    
Operating Lease, Liability 29,003    
Right-of-Use Asset Obtained in Exchange for Operating Lease Liability 4,801 3,943 1,221
LesseeOperatingLeaseModification $ 0 $ 0 (232)
Operating Lease, Weighted Average Remaining Lease Term 3 years 1 month 6 days 3 years 18 days  
Operating Lease, Weighted Average Discount Rate, Percent 6.30% 6.20%  
Sublease Income $ (2,817) $ (2,281) (2,907)
Operating Lease, Impairment Loss 3,276 0 0
Lease, Cost 10,721 $ 8,764 $ 8,153
Other Commitments [Line Items]      
Other Commitment, to be Paid, Year One 60,665    
Other Commitment, to be Paid, Year Two 47,081    
Other Commitment, to be Paid, Year Three 16,674    
Other Commitment, to be Paid, Year Four 0    
Other Commitment, to be Paid, Year Five 0    
Long-Term Debt, Maturity, Year Five 0    
Long-Term Debt, Maturity, Year Four 0    
Long-Term Debt, Maturity, Year Three 0    
Long-Term Debt, Maturity, Year Two 0    
Long-term Debt, Maturities, Repayments of Principal in Next Rolling Twelve Months 94,922    
Other Commitment 124,420    
Long-term Debt, Gross 94,922    
Contractual Obligation 219,342    
Contractual Obligation, to be Paid, Year One 155,587    
Contractual Obligation, to be Paid, Year Two 47,081    
Contractual Obligation, to be Paid, Year Three 16,674    
Contractual Obligation, to be Paid, Year Four 0    
Contractual Obligation, to be Paid, Year Five 0    
Other Commitment, to be Paid, after Year Five 0    
Long-Term Debt, Maturity, after Year Five 0    
Contractual Obligation, to be Paid, after Year Five 0    
Finance Lease, Liability, to be Paid, Year One $ 12,472    
v3.25.1
Concentrations of risk and geographic information - Narrative (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue, Major Customer [Line Items]      
Revenues $ 801,473 $ 1,005,459 $ 1,093,541
United States [Member]      
Revenue, Major Customer [Line Items]      
Revenues 291,300 388,000 $ 446,000
Outside the United States [Member]      
Revenue, Major Customer [Line Items]      
Assets, Noncurrent 3,500 1,600  
Assets, Noncurrent $ 3,500 $ 1,600  
v3.25.1
Concentrations of risk and geographic information - Schedule of Customer Concentration by Risk Factor (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Concentration Risk [Line Items]      
Accounts receivable sold $ 88,357 $ 103,990 $ 124,350
Factoring fees $ 1,287 $ 1,555 $ 1,163
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer A [Member]      
Concentration Risk [Line Items]      
Concentration risk 26.00% 30.00%  
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer B [Member]      
Concentration Risk [Line Items]      
Concentration risk   11.00%  
v3.25.1
Concentrations of risk and geographic information - Schedule of Revenue by Geographic Segment (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Revenues $ 801,473 $ 1,005,459 $ 1,093,541
United States [Member]      
Segment Reporting Information [Line Items]      
Revenues 291,300 388,000 446,000
Americas [Member]      
Segment Reporting Information [Line Items]      
Revenues 378,934 469,675 521,270
Europe, Middle East and Africa [Member]      
Segment Reporting Information [Line Items]      
Revenues 258,976 290,814 300,870
Asia and Pacific Area Countries [Member]      
Segment Reporting Information [Line Items]      
Revenues $ 163,563 $ 244,970 $ 271,401
v3.25.1
Restructuring charges - Restructuring Costs (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Costs
12. Restructuring charges
Restructuring charges for each period were as follows:
Year ended December 31,
(in thousands)202420232022
Cost of revenue$755 $(90)$8,090 
Research and development16,585 687 244 
Sales and marketing5,310 130 137 
General and administrative1,762 11 77 
Total restructuring charges$24,412 $738 $8,548 
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.
(in thousands)SeveranceOther
Total
Restructuring liability as of December 31, 2023
$— $— $— 
Restructuring charges12,681 6,038 18,719 
Cash paid(10,146)— (10,146)
Restructuring liability as of December 31, 2024
$2,535 $6,038 $8,573 
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 our 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 December 31, 2024, the Company expects to incur approximately $1.7 million of office space charges associated with the unused portion of our headquarters campus vacated as a result of the first quarter 2024 restructuring plan, which will be incurred over the underlying remaining lease term.
(in thousands)SeveranceROU Asset ImpairmentOther
Total
Restructuring liability as of December 31, 2023
$— $— $— $— 
Restructuring charges2,257 3,276 440 5,973 
Cash paid(1,999)— (440)(2,439)
Non-cash reductions(227)(3,276)— (3,503)
Restructuring liability as of December 31, 2024
$31 $— $— $31 
Fourth quarter 2022 restructuring
In December 2022, the Company the Company approved a restructuring plan to reduce camera production-
related costs by globally realigning its manufacturing footprint to concentrate production activities in two primary locations: China and Thailand. Under the fourth quarter 2022 restructuring, the Company recorded restructuring charges of $8.1 million including $7.0 million for camera production line closure costs and $1.1 million for related transitional costs to migrate production to the Company’s remaining manufacturing locations. As of December 31, 2023, all restructuring charges related to the fourth quarter 2022 restructuring plan have been paid.
    
Cash paid $ (12,600)    
Operating Lease, Impairment Loss 3,276 $ 0 $ 0
Restructuring charges $ 24,412 $ 738 $ 8,548
Cost of Revenue [Member]      
Restructuring Cost and Reserve [Line Items]      
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, 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, 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, Statement of Income or Comprehensive Income [Extensible Enumeration] General and administrative General and administrative General and administrative
First quarter 2024 restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges $ 5,973    
Restructuring Reserve 31 $ 0  
Severance Costs 2,257    
Cash paid (2,439)    
Restructuring Reserve, Settled without Cash (3,503)    
Restructuring Costs and Asset Impairment Charges 600    
First quarter 2024 restructuring | Employee Severance [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Reserve 31 0  
Cash paid (1,999)    
Restructuring Reserve, Settled without Cash (227)    
First quarter 2024 restructuring | Other Restructuring [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Reserve 0 0  
Cash paid (440)    
Restructuring Reserve, Settled without Cash 0    
Restructuring Costs and Asset Impairment Charges 440    
First quarter 2024 restructuring | ROU Asset Impairment      
Restructuring Cost and Reserve [Line Items]      
Restructuring Reserve 0 0  
Restructuring Reserve, Settled without Cash (3,276)    
First quarter 2024 restructuring | Cease of use impairment charge      
Restructuring Cost and Reserve [Line Items]      
Cash paid 0    
Restructuring Costs and Asset Impairment Charges 3,276    
First quarter 2024 restructuring | Office space charges      
Restructuring Cost and Reserve [Line Items]      
Restructuring and Related Cost, Expected Cost 1,700    
Restructuring and Related Cost, Expected Cost 1,700    
Third quarter 2024 restructuring      
Restructuring Cost and Reserve [Line Items]      
Restructuring charges 18,719    
Restructuring Reserve 8,573 0  
Severance Costs 12,681    
Other Restructuring Costs 6,038    
Cash paid (10,146)    
Restructuring charges 18,700    
Third quarter 2024 restructuring | Employee Severance [Member]      
Restructuring Cost and Reserve [Line Items]      
Restructuring Reserve 2,535 0  
Cash paid (10,146)    
Third quarter 2024 restructuring | Other Restructuring [Member]      
Restructuring Cost and Reserve [Line Items]      
Cash paid 0    
Third quarter 2024 restructuring | Contract Termination      
Restructuring Cost and Reserve [Line Items]      
Restructuring Reserve 6,038 $ 0  
Restructuring charges $ 6,000    
v3.25.1
Restructuring charges - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2024
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]          
Restructuring charges     $ 24,412 $ 738 $ 8,548
Cash paid     (12,600)    
Operating Lease, Impairment Loss     3,276 0 $ 0
fourth quarter 2022 restructuring          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges     8,100    
fourth quarter 2022 restructuring contract costs [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges     7,000    
fourth quarter 2022 restructuring transition costs [Member]          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges     1,100    
First quarter 2024 restructuring          
Restructuring Cost and Reserve [Line Items]          
Expected percent of positions eliminated   4.00%      
Severance Costs     2,257    
Cash paid     (2,439)    
Restructuring Costs and Asset Impairment Charges     600    
Restructuring Reserve $ 31   31 0  
Restructuring charges     5,973    
First quarter 2024 restructuring | Employee Severance and Pay Related Costs [Member]          
Restructuring Cost and Reserve [Line Items]          
Cash paid     (1,999)    
Restructuring Reserve 31   31 0  
First quarter 2024 restructuring | Other Restructuring [Member]          
Restructuring Cost and Reserve [Line Items]          
Cash paid     (440)    
Restructuring Costs and Asset Impairment Charges     440    
Restructuring Reserve $ 0   0 0  
Third quarter 2024 restructuring          
Restructuring Cost and Reserve [Line Items]          
Expected percent of positions eliminated 25.00%        
Restructuring charges     18,700    
Severance Costs     12,681    
Other Restructuring Costs     6,038    
Cash paid     (10,146)    
Restructuring Reserve $ 8,573   8,573 0  
Restructuring charges     18,719    
Third quarter 2024 restructuring | Employee Severance and Pay Related Costs [Member]          
Restructuring Cost and Reserve [Line Items]          
Cash paid     (10,146)    
Restructuring Reserve 2,535   2,535 0  
Third quarter 2024 restructuring | Other Restructuring [Member]          
Restructuring Cost and Reserve [Line Items]          
Cash paid     0    
Third quarter 2024 restructuring | Contract Termination          
Restructuring Cost and Reserve [Line Items]          
Restructuring charges     6,000    
Restructuring Reserve $ 6,038   $ 6,038 $ 0  
v3.25.1
Restructuring charges - Restructuring Liability (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
USD ($)
Restructuring Reserve [Roll Forward]  
Cash paid $ (12,600)
First quarter 2024 restructuring  
Restructuring Cost and Reserve [Line Items]  
Severance Costs 2,257
Restructuring Reserve [Roll Forward]  
Restructuring liability as of October 1, 2016 0
Restructuring charges (5,973)
Cash paid (2,439)
Non-cash settlements (3,503)
Restructuring liability as of December 31, 2017 31
Restructuring Costs and Asset Impairment Charges 600
First quarter 2024 restructuring | Employee Severance [Member]  
Restructuring Reserve [Roll Forward]  
Restructuring liability as of October 1, 2016 0
Cash paid (1,999)
Non-cash settlements (227)
Restructuring liability as of December 31, 2017 31
First quarter 2024 restructuring | Other Restructuring [Member]  
Restructuring Reserve [Roll Forward]  
Restructuring liability as of October 1, 2016 0
Cash paid (440)
Non-cash settlements 0
Restructuring liability as of December 31, 2017 0
Restructuring Costs and Asset Impairment Charges 440
First quarter 2024 restructuring | Cease of use impairment charge  
Restructuring Reserve [Roll Forward]  
Cash paid 0
Restructuring Costs and Asset Impairment Charges 3,276
First quarter 2024 restructuring | ROU Asset Impairment  
Restructuring Reserve [Roll Forward]  
Restructuring liability as of October 1, 2016 0
Non-cash settlements (3,276)
Restructuring liability as of December 31, 2017 $ 0
v3.25.1
Subsequent Events (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Subsequent Event [Line Items]      
Restructuring charges $ 24,412 $ 738 $ 8,548
Sublease Income $ 2,817 $ 2,281 $ 2,907
Operating Lease, Weighted Average Discount Rate, Percent 6.30% 6.20%  
v3.25.1
Valuation and Qualifying Accounts (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Allowance for Doubtful Accounts Receivable [Member]        
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]        
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount $ 11,000 $ 450,000 $ 390,000 $ 700,000
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]        
Charges to Expense (314,000) 67,000 (294,000)  
SEC Schedule, 12-09, Valuation Allowances and Reserves, Deduction (125,000) (7,000) (16,000)  
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount 11,000 450,000 $ 390,000  
SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member]        
SEC Schedule, 12-09, Valuation and Qualifying Accounts Disclosure [Line Items]        
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount 327,367,000 0    
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]        
Charges to Expense 327,367,000      
SEC Schedule, 12-09, Valuation Allowances and Reserves, Amount $ 327,367,000 $ 0