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Fitbit Inc. (NYSE:FIT) Community Grew to 25 Million in 2017 Despite Losses Repeatedly Reported


Fitbit (NYSE:FIT), the leading global wearable technology brand, specializes in health and fitness devices that tracks, monitors, and engages the community to compete against one another in fitness related goals and achievements. On January 8th, Fitbit revealed an early press release stating Fitbit’s community grew to 25 million users in 2017. The chart below describes the annual active users of the Fitbit products. Fitbit’s release is quite concerning while observing the graph below; Fitbit claims they closed the 2017 year with 25 million active users. By looking at the HADE graph, one could conclude that the community growth rate in 2017 will be the least in five years. The graph also displays Fitbit’s devices sold. Devices sold in the 2017 quarters compared to Fitbit’s 2016 quarters are significantly less. Fitbit closed 2017 Q3 with only 200 thousand more units sold than 2017 Q2.

 


 

Fitbit is scheduled to release financials in February and the investment community is eager to discover what the holiday season brought in the first earning quarter of the year, in regard to operating income and net income. In the first three quarters of 2017, Fitbit reported operating losses and revenue significantly less than 2016 quarters. Closing 2017 Q3 with an operating loss of $27.6 million.

 


 

In response to the struggle, Fitbit has invested in Sano, an enterprise that develops a small device that tracks blood sugar levels. An investment of $6 million, they hope the technology will not only enhance the health tracking ability of their community, but also beat the market competition to new grounds in wearable technology. Check in on Fitbit in February when the new quarterly  financials are released and and HADE reports on the operating income progress.