GPRO net loss more than doubled in Q1 to $63,528,000 from a loss of $24,365,000 on revenues that were down by more than half to $119,400,000 from $242,708,000 in the seasonally small first quarter. The results are inline with GPRO’s pre-announcement in mid-Apr. in which the action camera maker also revealed that it was pivoting to a pure direct-to-consumer distribution model. Gross margin contracted by 90 basis points to 32.2% and, while SG&A was down slightly from $100.6 million to $94.5 million. Gross margin is seen improving to the 38% to 40% range ... Log in to view full article.