$FIT (Fitbit Inc.)

$FIT {{ '2016-05-04T21:22:42+0000' | timeago}} • Webcast

$FIT, a provider of health and fitness products, said that at the end of 1Q16, company's patent portfolio consisted of 140 issued patents and 156 patent applications pending. In Canada, revenue rose 76% for the quarter, and store count grew modestly.

$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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