Portable camera-maker, GoPro, announced earlier this year that it is planning to go public. Its IPO is now official. The company has filed its S-1 document with the Securities and Exchange Commissionon on Monday.
In its lengthy filing, GoPro said that it is planning to raise over $100 million in the offering, although the numbers could change later. GoPro will be trading under the ticker symbol "GPRO" on the NASDAQ stock market.
The filing also reveals the growth potential of the 10-year old brand that is known for its self-capture devices.
GoPro is very profitable. The company amassed revenues of up to $985,737 million last year, up from $526,016 million in 2012 and $234,238 million in 2011. GoPro's GAAP revenue in 2013 was $60.57 while the adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation) was $133,726 million.
However, GoPro cited grey areas including a steep profit decline in a three-month period from $255,057 million in 2013 to $235,716 million in March 2014. GoPro was quick to defend the declining revenues, blaming it on production problems.
GoPro also noted that investors should not consider its recent revenue growth as indicative of its future performance.
"In future periods, our revenue could decline or grow more slowly than we expect. We also may incur significant losses in the future for a number of reasons, including other risks described in this prospectus, and we may encounter unforeseen expenses, difficulties, complications, delays and other unknown factors," GoPro said.
The company has sold 1.14 million units in 2011, 2.31 million units in 2012, and 3.84 million units in 2013.
The figures speak for themselves.