GoPro is weighing up major strategic changes, including a potential sale or merger, after the action camera company received several unsolicited takeover approaches.

The company confirmed it has begun a formal strategic review with the assistance of a financial adviser as it considers options aimed at unlocking value from its technology, intellectual property, and brand.

Investor interest in the business reportedly increased after GoPro began exploring opportunities beyond the consumer camera market, including possible expansion into defence, aerospace, imaging, and unmanned systems technology.

Chief executive Nicholas Woodman described recent months as a turning point for the company, pointing to growing interest in GoPro’s technology outside its traditional business segments. Woodman, who controls a significant portion of the company’s voting power, said he supports the ongoing review process.

GoPro has also hired consulting firm Oliver Wyman to assess potential opportunities in emerging industries and evaluate how the company’s imaging technology could be applied in new commercial sectors.

The announcement arrived alongside another difficult financial update for the company. GoPro reported a quarterly loss of approximately A$124 million, compared with a loss of around A$72 million during the same period last year.

Revenue also declined sharply, falling 26 per cent to roughly A$152 million for the quarter. Retail sales were particularly weak, dropping 35 per cent year-on-year. Subscription and service revenue remained largely unchanged, although subscriber numbers slipped by 8 per cent.

Following the announcement, GoPro shares rose around 10 per cent in after-hours trading, lifting the stock price to approximately A$2.23.

The company has also withdrawn its financial outlook while the strategic review remains underway.

GoPro has faced mounting pressure in recent years as consumer demand softened and operating costs increased. In April, the company announced plans to reduce its workforce by 23 per cent as part of a broader restructuring effort aimed at cutting expenses.

Like many electronics manufacturers, GoPro has also been affected by rising memory component prices and ongoing tariff pressures, factors that continue to weigh heavily on profitability.