Fitbit Reports Q1 Revenue of Over $500 Million and Launches Super Brand Day with Tmall

Recently, Fitbit, the global leader in wearable devices, announced its financial results for the first quarter of 2016. The company sold 4.8 million units, generating total revenue of $505.4 million, a 50% year-over-year increase. For the first quarter, the wearable device company reported GAAP (Generally Accepted Accounting Principles) earnings per share of $0.05, non-GAAP earnings per share of $0.10, and adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $45.1 million.

Revenue gains were primarily driven by the wearable products Blaze and Alta.

A significant portion of the revenue in the first quarter of 2016 was driven by the launch of Blaze and Alta, with 47% of the revenue coming from sales of Blaze and Alta in the latter part of the first quarter—each selling one million units. Approximately 40% of active users of Blaze and Alta had the latest and most advanced devices, while 20% returned to the Fitbit community as active users after being inactive for more than 90 days.

Fitbit’s revenue has grown rapidly, with a 50% year-over-year increase in the first quarter of 2016. The following table presents Fitbit’s first-quarter revenue and primary revenue composition in recent years:

Fitbit has also made substantial investments in operations and R&D. The following is a comparison of the proportion of operating expenses and changes in R&D personnel:

Fitbit Partners with Chinese E-commerce Platform Tmall to Expand into the Chinese Market

Tmall will host a dedicated Brand Festival for Fitbit on May 18 to help promote the company’s two latest devices—the Blaze and the Alta.

According to foreign media reports: “The collaboration between Fitbit and Tmall aims to expand into the Chinese market, with Tmall’s goal being to help Fitbit gain ten million followers in Asia.”