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Side-by-side financial comparison of GoPro, Inc. (GPRO) and INNOVATE Corp. (VATE). Click either name above to swap in a different company.
INNOVATE Corp. is the larger business by last-quarter revenue ($382.7M vs $201.7M, roughly 1.9× GoPro, Inc.). On growth, INNOVATE Corp. posted the faster year-over-year revenue change (61.7% vs 0.4%). Over the past eight quarters, GoPro, Inc.'s revenue compounded faster (13.9% CAGR vs 10.2%).
GoPro, Inc. is an American technology company founded in 2002 by Nick Woodman. It manufactures action cameras and develops its own mobile apps and video-editing software. Founded as Woodman Labs, Inc, the company is based in San Mateo, California.
Innovate Corp. is an American public financial services company founded in 1994.
GPRO vs VATE — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $201.7M | $382.7M |
| Net Profit | — | $-7.4M |
| Gross Margin | 31.8% | 15.4% |
| Operating Margin | -4.1% | 3.7% |
| Net Margin | — | -1.9% |
| Revenue YoY | 0.4% | 61.7% |
| Net Profit YoY | — | 55.4% |
| EPS (diluted) | $-0.06 | $-0.57 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $201.7M | $382.7M | ||
| Q3 25 | $162.9M | $347.1M | ||
| Q2 25 | $152.6M | $242.0M | ||
| Q1 25 | $134.3M | $274.2M | ||
| Q4 24 | $200.9M | $236.6M | ||
| Q3 24 | $258.9M | $242.2M | ||
| Q2 24 | $186.2M | $313.1M | ||
| Q1 24 | $155.5M | $315.2M |
| Q4 25 | — | $-7.4M | ||
| Q3 25 | $-21.3M | $-8.9M | ||
| Q2 25 | $-16.4M | $-19.8M | ||
| Q1 25 | $-46.7M | $-24.5M | ||
| Q4 24 | — | $-16.6M | ||
| Q3 24 | $-8.2M | $-15.0M | ||
| Q2 24 | $-47.8M | $14.4M | ||
| Q1 24 | $-339.1M | $-17.4M |
| Q4 25 | 31.8% | 15.4% | ||
| Q3 25 | 35.1% | 14.3% | ||
| Q2 25 | 35.8% | 18.8% | ||
| Q1 25 | 32.1% | 16.6% | ||
| Q4 24 | 34.7% | 19.6% | ||
| Q3 24 | 35.5% | 19.9% | ||
| Q2 24 | 30.5% | 21.0% | ||
| Q1 24 | 34.1% | 15.4% |
| Q4 25 | -4.1% | 3.7% | ||
| Q3 25 | -9.8% | 1.8% | ||
| Q2 25 | -9.2% | 2.0% | ||
| Q1 25 | -33.7% | 1.2% | ||
| Q4 24 | -19.5% | 1.1% | ||
| Q3 24 | -3.1% | 2.4% | ||
| Q2 24 | -25.0% | 9.2% | ||
| Q1 24 | -26.6% | 0.9% |
| Q4 25 | — | -1.9% | ||
| Q3 25 | -13.0% | -2.6% | ||
| Q2 25 | -10.8% | -8.2% | ||
| Q1 25 | -34.8% | -8.9% | ||
| Q4 24 | — | -7.0% | ||
| Q3 24 | -3.2% | -6.2% | ||
| Q2 24 | -25.7% | 4.6% | ||
| Q1 24 | -218.1% | -5.5% |
| Q4 25 | $-0.06 | $-0.57 | ||
| Q3 25 | $-0.13 | $-0.71 | ||
| Q2 25 | $-0.10 | $-1.67 | ||
| Q1 25 | $-0.30 | $-1.89 | ||
| Q4 24 | $-0.22 | $-0.72 | ||
| Q3 24 | $-0.05 | $-1.18 | ||
| Q2 24 | $-0.31 | $1.03 | ||
| Q1 24 | $-2.24 | $-2.21 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $49.7M | $112.1M |
| Total DebtLower is stronger | $44.3M | $80.3M |
| Stockholders' EquityBook value | $76.5M | $-240.1M |
| Total Assets | $428.0M | $950.1M |
| Debt / EquityLower = less leverage | 0.58× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $49.7M | $112.1M | ||
| Q3 25 | $152.8M | $35.5M | ||
| Q2 25 | $58.6M | $33.4M | ||
| Q1 25 | $69.6M | $33.3M | ||
| Q4 24 | $102.8M | $48.8M | ||
| Q3 24 | $130.2M | $51.0M | ||
| Q2 24 | $133.0M | $80.2M | ||
| Q1 24 | $133.7M | $38.4M |
| Q4 25 | $44.3M | $80.3M | ||
| Q3 25 | $43.9M | $97.3M | ||
| Q2 25 | — | $160.1M | ||
| Q1 25 | — | $139.9M | ||
| Q4 24 | $0 | $500.6M | ||
| Q3 24 | $93.1M | $502.4M | ||
| Q2 24 | $92.9M | $638.3M | ||
| Q1 24 | $92.7M | $641.5M |
| Q4 25 | $76.5M | $-240.1M | ||
| Q3 25 | $80.5M | $-233.3M | ||
| Q2 25 | $97.9M | $-224.8M | ||
| Q1 25 | $110.0M | $-204.2M | ||
| Q4 24 | $151.7M | $-180.4M | ||
| Q3 24 | $183.9M | $-163.1M | ||
| Q2 24 | $184.7M | $-149.0M | ||
| Q1 24 | $224.9M | $-184.4M |
| Q4 25 | $428.0M | $950.1M | ||
| Q3 25 | $538.6M | $913.2M | ||
| Q2 25 | $439.0M | $890.9M | ||
| Q1 25 | $462.5M | $868.0M | ||
| Q4 24 | $543.7M | $891.1M | ||
| Q3 24 | $661.6M | $897.2M | ||
| Q2 24 | $556.8M | $898.9M | ||
| Q1 24 | $575.8M | $943.5M |
| Q4 25 | 0.58× | — | ||
| Q3 25 | 0.55× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.00× | — | ||
| Q3 24 | 0.51× | — | ||
| Q2 24 | 0.50× | — | ||
| Q1 24 | 0.41× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $15.6M | $101.1M |
| Free Cash FlowOCF − Capex | $15.0M | — |
| FCF MarginFCF / Revenue | 7.4% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-24.0M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $15.6M | $101.1M | ||
| Q3 25 | $12.2M | $19.2M | ||
| Q2 25 | $8.8M | $40.4M | ||
| Q1 25 | $-57.2M | $-14.1M | ||
| Q4 24 | $-25.1M | $41.4M | ||
| Q3 24 | $-2.2M | $-28.4M | ||
| Q2 24 | $605.0K | $21.5M | ||
| Q1 24 | $-98.4M | $-25.4M |
| Q4 25 | $15.0M | — | ||
| Q3 25 | $11.2M | $19.0M | ||
| Q2 25 | $8.3M | — | ||
| Q1 25 | $-58.5M | $-18.8M | ||
| Q4 24 | $-25.5M | $34.2M | ||
| Q3 24 | $-4.2M | $-31.5M | ||
| Q2 24 | $-111.0K | $18.4M | ||
| Q1 24 | $-99.4M | $-31.0M |
| Q4 25 | 7.4% | — | ||
| Q3 25 | 6.9% | 5.5% | ||
| Q2 25 | 5.4% | — | ||
| Q1 25 | -43.5% | -6.9% | ||
| Q4 24 | -12.7% | 14.5% | ||
| Q3 24 | -1.6% | -13.0% | ||
| Q2 24 | -0.1% | 5.9% | ||
| Q1 24 | -63.9% | -9.8% |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 0.6% | 0.1% | ||
| Q2 25 | 0.3% | — | ||
| Q1 25 | 1.0% | 1.7% | ||
| Q4 24 | 0.2% | 3.0% | ||
| Q3 24 | 0.8% | 1.3% | ||
| Q2 24 | 0.4% | 1.0% | ||
| Q1 24 | 0.6% | 1.8% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.49× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
GPRO
| Subscription And Services | $106.3M | 53% |
| Other | $95.4M | 47% |
VATE
| Commercial Revenue | $126.1M | 33% |
| Industrial Revenue | $87.5M | 23% |
| Transportation Revenue | $58.4M | 15% |
| Healthcare Revenue | $48.4M | 13% |
| Government Revenue | $44.3M | 12% |
| Energy Revenue | $8.0M | 2% |
| Broadcast Station Revenue | $5.7M | 1% |
| Systems And Consumables Revenue | $3.1M | 1% |
| Leisure Revenue | $200.0K | 0% |
