Fitbit have just released their Q2.2018 financials.
Here are the numbers
Here are Fitbit’s words saying how great an increased loss really is: link to fitbit.com.
Here is what the market thought…actually not too bad. Essentially Fitbit’s numbers weren’t quite as bad as Fitbit said they were going to be.
There is still hope for Fitbit as Versa seems to be selling well. The problem is that basic “fitness trackers” are REALLY not selling. So Fitbit have to transition their product line towards the tech trends of now and the future.
The one point of intrigue in the Fitbit statement was this: “We expect the year-over-year decline in revenue from tracker devices to improve, driven by clean channel inventory levels, consumer feedback, and our product pipeline. In addition, we anticipate additional supply of Versa to become available.” That means “new products baby!!”
I’m still trying to think what Fitbit might pull out of the hat but the clue could be that Ionic and Versa were pretty similar.
Opinions are my own: I hope Fitbit do well. But…hand on heart…