GoPro Delays 10-Q Filing, Reports Material Weaknesses and Revenue Decline

GoPro said it will delay filing its third-quarter 10-Q while it completes accounting and valuation work related to certain financing arrangements. The company has not remediated material weaknesses in its financial reporting controls and is seeking lender waivers for certain debt covenants. Preliminary third-quarter revenue is about $96 million, down from $163 million a year earlier.