$FIT (Fitbit Inc.)

$FIT {{ '2016-05-04T21:51:20+0000' | timeago}} • Webcast

Robert Peck of SunTrust asks about the sell-through during 1Q16. $FIT CEO James Park said that sell-through for Blaze and Alta were very strong, which helped the company overperform. Channel inventory levels in North America were almost flat.

$FIT {{ '2017-05-03T22:01:39+0000' | timeago}} • Webcast

$FIT commented that on foreign exchange and its impact, the company had an impact of about $9MM on its reported revenue in EMEA for 1Q17. Overall for the financial, looking at all the foreign jurisdictions, it was about $5MM.

$FIT {{ '2017-05-03T21:48:43+0000' | timeago}} • Webcast

$FIT's new product introductions are on track and the business is going as planned. Alta HR as a percentage of revenue for 1Q17 was under 20% and the shipments, since it is a channel for new products, were substantially less than a year ago.

$FIT {{ '2017-05-03T21:19:13+0000' | timeago}} • Infographic

$FIT Fitbit Earnings AlphaGraphics: Q1 2017 highlights

$FIT {{ '2017-05-03T20:39:46+0000' | timeago}} • Announcement

For 2Q17, $FIT anticipates revenue of $330MM to $350MM, and a non-GAAP net loss of $0.14 to $0.17 per share. For 2017, the company projects revenue of $1.5Bil to $1.7Bil, and a net loss per share of $0.44 to $0.22 on a non-GAAP basis.

$FIT {{ '2017-05-03T20:36:01+0000' | timeago}} • Announcement

$FIT said that for 1Q17, it sold 3MM devices, down 37.5% from 4.8MM in 1Q16. The company also reported that 36% of the activations in the quarter came from customers who made repeat purchases. New products introduced in the last 12 months, Fitbit Charge 2, Fitbit Alta HR, and Fitbit Flex 2 represented 84% of revenue.

$FIT {{ '2017-05-03T20:29:29+0000' | timeago}} • Announcement

Wearable fitness-tracking devices maker $FIT reported a net loss of $60.07MM or $0.27 per share for 1Q17, compared to a net income of $11MM or $0.05 per share in the year ago quarter. On a non-GAAP basis, the company reported net loss of $0.15 per share. Revenue for the quarter declined 40.85% YoY to $298.9MM.

$FIT {{ '2017-02-22T23:16:42+0000' | timeago}} • Webcast

$FIT said that it will see the biggest downdraft in the US in terms of sell-in. EMEA has continued to be a strong growth market for the company and expects it to continue to grow in 2017 also. In Asia-Pac, $FIT is looking for just stability and to be somewhere in the neighborhood of flat YonY.

$FIT {{ '2017-02-22T23:11:05+0000' | timeago}} • Webcast

$FIT said that on the competitive pressure, the company has 81% market share in the wearables business. The company is not seeing any material impact from competitors. $FIT also added that the challenge for the company is how to reignite growth itself.

$FIT {{ '2017-02-22T22:51:51+0000' | timeago}} • Webcast

$FIT expects 2017 gross margin to range from 42.5-44% and operating margin is expected to trough in 1H17 and improve in 2H17, as the company rolls out additional product offerings. Additionally, $FIT expects 2017 free cash flow of approx. negative $50MM to negative $100MM.

$FIT {{ '2017-02-22T22:46:40+0000' | timeago}} • Webcast

$FIT said that for FY16, R&D cost increased 107%, representing 13% of revenue, driven mainly by the growth in engineering resources. CapEx in 4Q16 was $12MM, totaling $79MM for the full year. The largest portion of spend was represented by tooling equipment to support the roll-out of the four new product introductions.

$FIT {{ '2017-02-22T22:31:58+0000' | timeago}} • Infographic

$FIT Fitbit Earnings AlphaGraphics: Q4 2016 Highlights

$FIT {{ '2017-02-22T22:21:25+0000' | timeago}} • Webcast

$FIT said that in the US, revenue grew 11% in 2016, but declined 28% in 4Q16. Other Americas revenue showed similar trends, up 19% for 2016, but down 12% in 4Q16. APAC revenue, dominated by the Australian market, contracted 26% for the year and 56% in the quarter. India and EMEA grew 248% and 86% respectively for 2016.

$FIT {{ '2017-02-22T21:38:08+0000' | timeago}} • Announcement

For 4Q16, $FIT sold 6.5MM devices, down from 8.2MM in 4Q15. Active users grew 37% to 23.2MM from 16.9MM at year-end 2015. The company said that new products (Fitbit Charge 2 Alta Fitbit Blaze, and Fitbit Flex 2) represented 96% of the quarter's revenue.

$FIT {{ '2017-02-22T21:30:45+0000' | timeago}} • Announcement

For 1Q17, $FIT sees revenue of $270MM to $290MM, and a net loss of $0.18 to $0.20 per share on a non-GAAP basis. For 2017, the company projects revenue of $1.5Bil to $1.7Bil, and a net loss of $0.22 to $0.44 on a non-GAAP basis.

$FIT {{ '2017-02-22T21:27:44+0000' | timeago}} • Announcement

$FIT reported net loss of $146.3MM or $0.65 per share for 4Q16, compared with net income of $64.16MM or $0.26 per share in 4Q15. On a non-GAAP basis, the company posted net loss of $0.56 per share. Revenue for the quarter declined 19% YoY to $573.8MM.

$FIT {{ '2017-01-30T14:54:50+0000' | timeago}} • Announcement

$FIT expects 2017 revenue of $1.5-1.7Bil, and non-GAAP loss per basic share of $0.44-0.22. The company predicts non-GAAP free cash flow of about negative $50-100MM and long-term non-GAAP gross margin of about 45% versus previous 50% target.

$FIT {{ '2017-01-30T14:52:45+0000' | timeago}} • Announcement

$FIT said it is conducting a reorganization of its business, including a reduction in force, that will impact about 110 employees, constituting about 6% of its global workforce, creating a more focused and efficient operating model. The cost of these reorganization efforts is expected to be about $4MM to be recorded in 1Q17.

$FIT {{ '2017-01-30T14:51:34+0000' | timeago}} • Announcement

$FIT expects a reduction in the 2016 exit operating expense run rate of about $200MM, to about $850MM for 2017, which includes realigning sales and marketing spend and improved optimization of research and development investments.

$FIT {{ '2017-01-30T14:48:18+0000' | timeago}} • Announcement

For 2016, $FIT lowered revenue growth estimate to about 17% from 25-26%. For the full-year 2016, $FIT expects to earn about $32MM in non-GAAP free cash flow and have about $700MM in cash, cash equivalents, and marketable securities on its balance sheet.

$FIT {{ '2017-01-30T14:48:01+0000' | timeago}} • Announcement

$FIT expects to report 6.5MM devices sold and lowered revenue outlook for 4Q16 to $572-580MM from $725-750MM. The company now expects non-GAAP loss per share of $0.56-0.51 for 4Q16 compared to prior EPS estimate of $0.14-0.18. The non-GAAP effective tax rate is expected to be materially higher than prior guidance.

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