It was last year when GoPro Founder and CEO Nick Woodman told Forbes he was considering the idea of an initial public offering. On Monday, it was revealed through registration documents from the Securities and Exchange Commission that the action camera company, founded in 2004, seeks to raise $100 million in IPO.

While GoPro announced it had registered in secret back in February, the company officially released its S-1 after markets closed this week. According to the JOBS Act, GoPro was initially allowed to file in secret because it had less than $1 billion in annual sales, Forbes reported.

In 2013, GoPro had a revenue of $985 million, which was an 87 percent increase from 2012. While the popularity of the cameras should come as no surprise, it seems revenue for 2014 isn’t doing quite as well as previous years. So far, there has been a 7 percent decrease compared to the same time frame from 2013.

To make up for decreased revenue and attempt to remain an appealing investment, GoPro has started to focus on other revenue outlets. “As of December 31, 2013, we had not derived revenue from the distribution of, or social engagement with, our content on the GoPro Network,” the company said in Monday’s filing, according to the San Jose Mercury News. “However, we plan to pursue new revenue opportunities from the distribution of engaging GoPro content in the near term,” including the release of an editing software called GoPro Studio.

The company, which changed its name from Woodmand Labs to GoPro in February, will be listed as “GPRO” on the Nasdaq.

Check out ActionHub’s review of the GoPro HERO3+ Black Edition.

Image courtesy of GoPro