- Q4 2016 results – revenue $574M (-19.3% Y/Y, $2.04M below estimates), EPS -$0.56 ($0.06 below estimates), gross margin 22.4%, operating expenses 49.6% of revenue
- Geographic revenues – U.S. -28%, EMEA +58%, APAC -56%, Other Americas -12%
- Major product contribution – Fitbit Charge 2, Alta, Fitbit Blaze and Fitbit Flex 2 comprised 96% of revenue.
- Q1 2017 projections – revenue $270M-$290M (consensus $307.46), EPS -$0.18 to -$0.20 (consensus -$0.15), tax rate 50%, stock-based compensation $23M-$25M
- FY 2017 projections – revenue $1.5B-$1.7B (consensus $1.59B), EPS -$0.44 to -$0.22 (consensus -$0.32), gross margin 42.5%-44%, tax rate 50%, stock-based compensation expense $100M-$110M
- Fitbit co-founder and CEO James Park: "Our ten-year history of building this category, coupled with our powerful brand and engaged global community gives us confidence we are making the right investments to support our vision and drive long-term success. We will leverage our leadership position, recently acquired talent and IP, and the valuable data we collect to improve demand and continue to set the pace of innovation for the industry through more personalized experiences, deeper insights and guidance, expansion into new categories and deeper integration within the healthcare system."
- After hours – (NYSE:FIT) $5.90
- Supplemental historical financial information / conference call / press release / presentation / 8-K
- Previously (January 30, 2017): Fitbit -11.8%; Q4 2016 preliminary results, FY 2017 outlook significantly below expectations