Fitbit's IPO filing shows a strong pulse

Sales of the company's devices more than doubled between 2013 and 2014

Fitbit Flex

Fitbit Flex

Fitbit, the maker of wearable activity trackers, has filed to go public and revealed some strong sales numbers in its pitch.

The company seeks to raise as much as US$100 million, according to a regulatory filing on Thursday, though the amount is subject to change. Fitbit plans to list its stock on the New York Stock Exchange under the symbol "FIT."

The filing reveals what seems to be a healthy business. The company sold roughly 10.9 million devices in 2014, more than double what it sold in 2013 and more than eight times as many as it sold in 2012.

Fitbit also more than doubled its revenue between 2013 and 2014, to more than $745 million. Sales in 2012 were about $76 million.

The company posted net income of nearly $132 million in 2014, up from a loss of roughly $52 million the year before.

Meanwhile, the company's paid active users grew from 2.6 million in 2013 to 6.7 million in 2014.

Fitbit, founded in 2007, makes a number of activity-measuring bracelets and trackers that can be synced with an online dashboard and mobile apps. The company also provides premium services like virtual coaching and customized fitness plans.

Fitbit faces tough competition from rivals like Jawbone and Garmin, as well as the Apple Watch. Last year, Fitbit recalled its Force band after customers complained of it giving them rashes. The incident doesn't appear to have put a huge dent in the company's sales.

Fitbit's other devices include Aria, a WiFi-connected scale, and the One, a clippable tracker.

Zach Miners covers social networking, search and general technology news for IDG News Service. Follow Zach on Twitter at @zachminers. Zach's e-mail address is zach_miners@idg.com

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection

Tags business issuesconsumer electronicssmartphonesaccessoriesSEC Filingsfinancial resultsFitbit

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Zach Miners

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

David Coyle

Brother PocketJet PJ-773 A4 Portable Thermal Printer

I rate the printer as a 5 out of 5 stars as it has been able to fit seamlessly into my busy and mobile lifestyle.

Kurt Hegetschweiler

Brother PocketJet PJ-773 A4 Portable Thermal Printer

It’s perfect for mobile workers. Just take it out — it’s small enough to sit anywhere — turn it on, load a sheet of paper, and start printing.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?