2024-09-25 14:14:00

Better Buy: GoPro vs. Matterport

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The Motley Fool
By Newsfeedback@Fool Com (Leo Sun)

GoPro (GPRO -1.76%) and Matterport (MTTR -1.84%) both carved out niches in the commoditized camera market with their unique products and services. GoPro's action cameras enable people to record a wide variety of activities, and it backs up all that content on its cloud-based platform.

Matterport's 3D-scanning cameras enable businesses to scan digital twins of physical environments for online tours or VR applications. Like GoPro, Matterport stores that content on its own cloud-based platform.

Image source: Getty Images.

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GoPro's stock hit an all-time high of $93.85 nearly eight years ago, but it now trades at about $5 a share. Matterport's stock closed at its all-time high of $33.05 last November, but it now trades at less than $4. Let's see what happened to these two innovative camera makers, and if either beaten-down stock is primed for a long-term rebound.

GoPro learned some painful lessons

When GoPro went public in 2014, its action cameras were flying off the shelves. But over the next few years, its camera sales tumbled for three reasons: cheaper competitors entered the market, smartphone cameras improved, and its core users weren't upgrading their older cameras.

Between 2015 and 2019, GoPro's annual revenue declined from $1.62 billion to $1.19 billion. Its annual shipments plunged from 6.6 million to 4.3 million during that period, while its gross margin fell from 42% to 35%.

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