Fitbit has released its numbers for the third quarter of the year. The company has moved 4.8 million health devices in the period for the revenue of $409 million, a 168% increase year-over-year. United States accounts for the two thirds of the Q3 revenue, followed by the APAC region (16%), EMEA (12%), and Other Americas (6%). However, the growth is shifting to other parts of the world, with U.S. revenue growing 130% year-over-year, APAC – 314%, EMEA – 282%, and Other Americas – 286%. Fitbit’s latest activity trackers — Charge, Charge HR and Surge — comprised 79% of 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,” said James Park, Fitbit co-founder and CEO.
Fitbit expects to end the year with revenues in the $1.77 – $1.80 billion range. But before 2016, the wristband maker wants to raise an additional cash to get additional working capital and for other general corporate purposes, including R&D, and sales and marketing activities, general and administrative matters, and capital expenditures. To that end, Fitbit has filed a registration statement on Form S-1 with the SEC relating to a proposed underwritten follow-on public offering of its Class A common stock. The company is proposing to sell 7,000,000 shares and certain selling stockholders are proposing to sell 14,000,000 shares. In addition, the selling stockholders will grant the underwriters a 30-day option to purchase up to an additional 3,150,000 shares. Fitbit will not receive any proceeds from the sale of the shares by the selling stockholders.