The company sold 48 million of its connected health and fitness tracking devices in the third quarter Photo courtesy Fitbit

The company sold 4.8 million of its connected health and fitness tracking devices in the third quarter. (Photo courtesy Fitbit.)

Fitbit Reports Revenue of $409.3 Million in Third Quarter

Fitbit's revenue of $409.3 million reflected a 168 percent year-over-year quarterly increase.

​Fitbit, San Francisco, reported $409.3 million in revenue in the third quarter of 2015 with the U.S. market generating $270.8 million, according to financials released Monday.

The company sold 4.8 million of its connected health and fitness tracking devices in the third quarter, up from the 4.5 million devices sold in the second quarter. Fitbit's Charge, Charge HR and Surge products comprised 79 percent of total revenue.

“Fitbit’s third quarter results demonstrated the continued rapid growth of the Fitbit platform and our team’s ability to execute on the tremendous opportunity we see globally, as we help people reach their health and fitness goals,” Fitbit co-founder and CEO James Park said in a statement.

The company expects revenue in the range of $620 million to $650 million in the fourth quarter, with 2015 total revenue in the range of $1.77 billion to $1.80 billion.

The revenue of $409.3 million reflected a 168 percent year-over-year quarterly increase and U.S. revenue grew 130 percent year-over-year. The Asia-Pacific market saw $65.1 million in revenue in the third quarter, which reflected a 314 percent year-over-year increase.

Fitbit has added more than 20 corporate wellness customers in the last four months and Park told CNBC's Jim Cramer the company has signed over 70 of the Fortune 500 companies to corporate wellness offerings.

Fitbit debuted on the New York Stock Exchange on June 18 at a price per share of $30.40 and closed Monday at $40.80. Shares fell to $37.16 in after hours trading after the company announced plans for a follow-on stock offering. It is proposing to sell 7 million shares, and certain stockholders are planning to sell 14 million shares, according to a filing with the Securities and Exchange Commission.

Also on Monday, Fitbit filed a complaint with the International Trade Commission to halt U.S. imports of Jawbone, San Francisco. Fitbit alleges Jawbone products infringe on its patents in the latest development of an ongoing dispute between the two companies.

Last week, Jawbone filed an antitrust claim in U.S. District Court in San Francisco alleging that Fitbit had stolen employees, stolen trade secrets and filed "meritless" patent lawsuits.

In July, Jawbone filed a complaint with the International Trade Commission to block Fitbit from importing devices or parts into the United States.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish