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!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags smartphonesbusiness issuesfinancial resultsconsumer electronicsaccessoriesSEC FilingsFitbit

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

Cool Tech

Toys for Boys

Family Friendly

Stocking Stuffer

SmartLens - Clip on Phone Camera Lens Set of 3

Learn more >

Christmas Gift Guide

Click for more ›

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Aysha Strobbe

Microsoft Office 365/HP Spectre x360

Microsoft Office continues to make a student’s life that little bit easier by offering reliable, easy to use, time-saving functionality, while continuing to develop new features that further enhance what is already a formidable collection of applications

Michael Hargreaves

Microsoft Office 365/Dell XPS 15 2-in-1

I’d recommend a Dell XPS 15 2-in-1 and the new Windows 10 to anyone who needs to get serious work done (before you kick back on your couch with your favourite Netflix show.)

Maryellen Rose George

Brother PT-P750W

It’s useful for office tasks as well as pragmatic labelling of equipment and storage – just don’t get too excited and label everything in sight!

Cathy Giles

Brother MFC-L8900CDW

The Brother MFC-L8900CDW is an absolute stand out. I struggle to fault it.

Luke Hill

MSI GT75 TITAN

I need power and lots of it. As a Front End Web developer anything less just won’t cut it which is why the MSI GT75 is an outstanding laptop for me. It’s a sleek and futuristic looking, high quality, beast that has a touch of sci-fi flare about it.

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?