GoPro, Inc. (NASDAQ: GPRO) reported its fourth quarter financial results after the markets closed on Wednesday. The company had a net loss of $0.08 per share on $436.3 million in revenue compared to consensus estimates from Thomson Reuters that called for no earnings on $496.10 million in revenue. The same period from the previous year had $0.99 in earnings per share (EPS) on $633.91 million in revenue.

Note that right after this earnings report was released, GoPro shares were halted in the after-hours session.

The company acquired roughly 1.5 million shares of its outstanding stock at an average price per share of $23.05, representing a total share repurchase of about $35.6 million through the end of December 2015. GoPro has a remaining share repurchase authorization of $264.4 million.

In this report, Jack Lazar announced that he will be stepping down from the CFO role at GoPro. Brian McGee will be taking over, succeeding Lazar come March 11.

In terms of guidance for the first quarter, GoPro expects that revenues will be in the range of $160 million to $180 million and that gross margin will be roughly 36%, give or take 1%.

Nicholas Woodman, Founder and CEO of GoPro, commented on earnings:

In 2015, we recorded 16% year-over-year revenue growth and the fourth quarter represented the second highest revenue quarter in the company’s history. However, growth slowed in the second half of the year and we recognize the need to develop software solutions that make it easier for our customers to offload, access and edit their GoPro content.

On the books, cash, equivalents, and marketable securities totaled $474 million at the end of the fourth quarter of 2015, an increase of about $52 million from year end 2014.

Shares of GoPro closed Wednesday up 4.6% at $10.71, with a consensus analyst price target of $16.85 and a 52-week trading range of $9.90 to $65.49.

If we check out Ambarella, Inc. (NASDAQ: AMBA) which often has a high trade correlation with GoPro, it does not look like GoPro will have a good reaction from this report. Ambarella shares closed Wednesday down 1.6% at $37.43, with a consensus analyst price target of $74.60 and a 52-week trading range of $34.60 to $129.19. After GoPro released its earnings Ambarella was initially down over 5% at $35.50 in the after-hours trading session.

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