SAN
MATEO, Calif., Feb. 15,
2023 /PRNewswire/ -- GoPro, Inc. (NASDAQ:
GPRO) announced today that its board of directors has authorized
the company to repurchase an
additional $40 million of its Class A
common stock. In 2022, the board of directors authorized the
repurchase of up to $100 million of
its Class A common stock, of which $40
million was repurchased in 2022. The cumulative remaining
authorized amount for repurchase of Class A common stock as of
February 9, 2023, is $100 million, of which $5
million has now been repurchased in 2023.
"GoPro has focused on sound business and cash management in
recent years, which has yielded profitability and positive EBITDA,
enabling us to both invest capital back into our business and to
return capital to shareholders via our share repurchase program,"
said Brian McGee, GoPro's CFO and
COO.
Stock repurchases under the program may be made periodically
through 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 the Rule 10b-18 under the Securities Exchange Act of 1934,
as amended, as such guidelines may be modified by the SEC from time
to time.
GoPro expects to fund repurchases through cash generated from
operations. GoPro's stock repurchase program has no time
limitations and may be modified, suspended, or discontinued at any
time.
About GoPro, Inc. (NASDAQ: GPRO)
Founded in 2002, GoPro helps the world to capture and share
itself in immersive and exciting ways.
For more information, visit GoPro.com. Open roles can be
found on our careers page. Members of the press can access
official logos and imagery on our press portal. GoPro
customers can submit their photos and videos to GoPro
Awards for an opportunity to be featured on GoPro's social
channels and receive gear and cash awards. Connect with GoPro
on Facebook, Instagram, LinkedIn, TikTok, Twitter, YouTube,
and GoPro's blog The Current.
GoPro, HERO and their respective logos are trademarks or
registered trademarks of GoPro, Inc. in the United States and other countries.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/gopros-board-of-directors-authorizes-40-million-in-additional-share-repurchases-301747339.html
SOURCE GoPro, Inc.