GoPro is in financial trouble – but the action camera giant’s latest move under the threat of potential bankruptcy reflects the company’s founder and CEO’s outlook for the brand. Nicholas Woodman, founder and CEO, is expected to loan the company $20 million through the purchase of shares, the company announced on July 08.
Last month, GoPro filed “going concern” paperwork that informed investors that the lowered sales numbers and higher material costs could mean that the company “may be required to significantly reduce, restructure, cease operations, or seek protection under the Federal bankruptcy laws although no specific plans to file for bankruptcy protection have been initiated or considered.”
That potential bankruptcy news followed an announcement that GoPro is considering a potential sale or merger, a move that Woodman said that he “fully supports.”
The announcement for the $20 million loan from the company’s founder also comes with an update on the brand’s search for a potential merger or buyer, as Woodman says that the plan “continues to progress.”
"An independent committee of the board of directors evaluated a range of financing options and concluded this structure offered the most favorable terms for GoPro and our shareholders," Woodman wrote in a statement. "My financing reflects my enthusiasm for GoPro and its several go-forward opportunities. I continue to strongly support the board's evaluation of strategic alternatives, a process we announced on May 11, 2026, and which continues to progress."
The $20 million loan isn’t the first time Woodman has made a change to aid the company – Woodman declined his own salary for part of 2025.
Woodman’s loan is expected to be due in two years with a 6.5 percent interest, but the paperwork filed along with the announcement suggests that if GoPro is sold, the new buyer also takes on the agreement.
Woodman founded GoPro in 2002, launching the first camera in 2004, before bringing the company to public trading on the stock market in 2014. Woodman, now 51 years old, launched the company with a film camera in a waterproof case after a surfing trip left him frustrated that he couldn’t find a camera to capture photos of himself surfing.
In the last financial year, GoPro reported a US$93.5 million loss, selling around 20 percent fewer cameras than the year before. The increased competition in the action camera category, along with Increased material costs, including the higher cost of memory, plays into GoPro’s financial struggles.
GoPro has met the lowered sales with the launch of the Mission 1 series, bringing a one-inch sensor into the action-cinema camera Mission 1 Pro, alongside a fall 2026 launch of a mirrorless camera with the same sensor.
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