Hi there s1a5h3r,
The Gear360 has been designed to allow you to take it hiking, riding or on any adventure. The Gear 360 is protected against sprinkles and splashes*, so it can go wherever you do.
*Certified IP53 for protection against harmful deposits of dust and against water sprayed at any angle up to 60º from the vertical.
However without an additional housing to protect Gear360 you should not submerge it fully in water.
When you open the cover to get at the data card and charging port you will see a rubber seal that provides some protection against water getting in. But I would suggest that if you had it out in a drizzle or light rain you should get it in the dry pretty quick or take your chances. I've had mine sitting on a tripod in light drizzle/rain for about 20 minutes and it's still OK. (I was trying to record birds at my bird feeding station, went indoors and got distratcted and found it had started to rain. It's something to be wary of.)
Definately not waterproof such that you can submerge it for any period of time.
However I have used the 360 on my ski helmet in the snow and cold and it has survived. Surprisingly it also stood up to the cold better than the GoPro 3 in the cold which shut down.
I have also used the 360 in a down pour and no issues.
I would make sure to always fully dry off the 360 after use in extreme conditions.