GoPro Receives Unsolicited Acquisition Interest, Hires Houlihan Lokey to Evaluate Strategic Options

GoPro has hired investment bank Houlihan Lokey to help evaluate a potential sale and other strategic alternatives, the company said Thursday. GoPro’s board of directors stated it recently received several unsolicited inbound strategic inquiries from parties across various sectors including defense, consumer and financial.

The action camera maker, which invented the category, is a California company that has struggled in recent years with declining sales and rising losses.

Its stock price flatlined at about $1 two years ago. Last month GoPro announced a plan to explore defense and aerospace market opportunities, a pivot that nearly doubled its stock price for a few days before it fell back. The company is laying off a quarter of its workforce.

GoPro’s workforce has already shrunk to a little more than 600 workers after once employing as many as 1,500. GoPro founder and CEO Nick Woodman considered putting the company up for sale in 2018. The latest announcement comes as the company navigates a more volatile world in which defense spending has drawn investor interest.

Anduril raised another $5 billion this week. Redwood Materials raised $425 million from blue chip companies like Google and Nvidia. Cerebras pulled off one of the hottest IPOs of 2026. Ford’s energy storage business won’t be ready until next year.

TechCrunch reported that any company with a remote chance at nabbing government contracts appears to be pursuing that path. The pivot to defense applications makes a certain amount of sense for a company whose cameras combine top-tier image quality with enough durability to withstand a motorcycle crash or a fall from space, according to the reporting.

Survival has not necessarily meant success for GoPro, which faced repeated challenges from would-be competitors during the 2010s.

““several unsolicited inbound strategic inquiries from parties across various sectors including defense, consumer and financial.””

“— GoPro board of directors The company’s financial position has deteriorated further since founder and CEO Nick Woodman first considered a sale eight years ago. TechCrunch reported that a massively ballooning Pentagon budget now looks like a viable path through the churn for the former tech darling.”