GoPro CEO defends company as stock drops 3 percent

GoPro chief executive Nick Woodman told CNBC that the company is on track to meet Q2 revenue guidance.

"We feel good about the second quarter, and we think that things are tracking just as we shared on our earnings call, and we're really happy with the turnaround that we're seeing in our business," Woodman told CNBC on Tuesday.

Last month the company reported better-than-expected revenue but shipped fewer products than Wall Street hoped for in Q1.

Woodman said both business and product demand are solid now, and that the company will be profitable this year. "Customers are using our products more than ever here, and Hero 5 is doing really well — which is boding well for the second quarter," he said.

The company has seen stronger demands for the Hero 5 line of products than for the previous generation Hero 4 line of products, he said. That demand is coming from both existing and new customers, both in North America and overseas, he said.

Nevertheless, GoPro's shares were down 3 percent on Tuesday afternoon. "We have to execute all year long and all signs are showing us doing so," Woodman said.