GoPro Chief Executive Nick Woodman said Thursday his company made mistakes on the launch of its Hero4 Session camera.
"If Session had been stronger out of the gates, if we hadn't mispriced it, and if we had backed it up with the marketing it deserved, I think we would have had a very different earnings call yesterday," he said in an exclusive interview on CNBC's "Squawk Alley."
The company launched its flagship camera in July for $399.99, but slashed its price by $100 two months later.
Shares of GoPro skid further Thursday, one day after the company reported earnings and revenues that missed expectations. Share prices were down 13 percent by Thursday afternoon. In after-hours trading Wednesday, the stock was down 18 percent at one point. Click here for the latest stock quote.
The camera maker posted third-quarter earnings of 25 cents per share on revenue of $400 million. Wall Street had expected 29 cents per share on $434 million in revenue, according to consensus estimates from Thomson Reuters.
Woodman said that despite the miss, the company still reported revenue that was up 43 percent from the year-earlier period.
"Performance is still good, demand for GoPro is still strong, but admittedly, we took our foot off the gas from a marketing perspective in the second and third quarter," he said.
He said the company had a "huge halo effect" from its IPO last year and was planning to beef up marketing to address some waning social media attention.