Fitbit sold 3.3 million devices in its fiscal 2020 third quarter, a slight year-over-year decline. However, the company grew revenue 4.8% to $363.9 million, outpacing analyst expectations thanks to a new smartwatch and a higher average price point for its products.
Four new devices accounted for 52% of Fitbit’s revenue this year. Fitbit Sense, which launched in September, is priced at $329.95 — its most expensive wearable.
Google’s $2.1 billion acquisition of Fitbit, which was approved by stockholders last year, is still pending regulatory review. The company’s stock price is up more than 7% year-to-date.
Fitbit Revenue Share by Product:
Non-device software: 4%