New Devices Fuel Fitbit

    • Fitbit’s stock price is up more than 7% year-to-date.
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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:

Smartwatches: 60% 

Trackers: 36%

Non-device software: 4%