Fitbit Reports $299M in Revenue, Sells 3M Devices in Q1 ‘17, Reaffirms FY17 Guidance

Fitbit Reports $299M in Revenue, Sells 3M Devices in Q1 '17, Reaffirms FY17 Guidance

SAN FRANCISCO--(BUSINESS WIRE)-- Fitbit, Inc. ( FIT ), the leader in connected health and fitness wearables, today reported revenue of $299 million, GAAP net loss per share of ($0.27), non-GAAP net loss per share of ($0.15), GAAP net loss of ($60.1) million, and Adjusted EBITDA loss of ($52.3) million for its first quarter of 2017. "In the ten years since Fitbit was founded, we have transformed the wearables category with more than 63 million devices sold, over 50 million registered device users, and a global retail footprint of more than 55,000 stores. Underlying consumer demand has been better than our reported results in North America as we work down channel inventory levels, giving us increased confidence that we will enter the second half of 2017 with a relatively clean channel," said co-founder and CEO James Park. "While 2017 remains a transition year,

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