GoPro launches its first live-streaming camera

  • The new Hero7 Black camera features better video stabilization, live streaming and voice command capability.
  • Three new cameras are priced at $199, $299 and $399.
  • GoPro has been outfitting its flagship adventure cameras with shareable, social-focused features like easy uploading and unique video formats in an effort to revive sales.

GoPro is launching its first camera capable of live streaming in an effort to woo investors and improve its performance during the holiday rush.

The $399 Hero7 Black also features new stabilization technology, voice command capability and a new video format the company is calling TimeWarp, which compresses longer experiences into short, speeded-up videos.

The company is also announcing the $199 Hero7 White and the $299 Hero7 Silver. It says they're both waterproof for up to 33 feet and have improved stability, image quality and voice recognition software.

GoPro CEO Nick Woodman told CNBC's Josh Lipton the new stabilization technology, which the company calls HyperSmooth, is "the biggest innovation in video since high definition. It just makes a user's footage so much more usable."

GoPro has been outfitting its flagship adventure cameras with shareable, social-focused features like easy uploading and unique video formats in an effort to revive sales.

The company's stock has fallen 92.7 percent during the past five years. It currently trades below $7 after peaking at $86.97 on Oct. 3, 2014.

Woodman told CNBC that after years of trying different price levels, he hopes this new line will help restore GoPro's profitability.

"It's very challenging, because in many of our markets, we are the market," Woodman said. "We don't have a single significant competitor to help us benchmark our industry, to understand pricing sensitivity. We've had to learn all of this on our own."

The three cameras are available for online preorder and will be available in stores internationally on Sept. 27 and domestically on Sept. 30.