The company also announced Thursday in its earnings release that it had lowered its 2016 revenue guidance. Shares plummeted more than 20 percent Thursday after the news.
“Looking forward to 2017, we expect to return to profitability, driven by the strength of our new products, double digit revenue growth and annual operating expenses of approximately $650 million,” founder and CEO Nicholas Woodman said in the earnings release.
GoPro’s stock is down more than 40 percent year to date.
— CNBC’s Antonio José Vielma contributed to this report.