In this post, we provide an analysis of Fitbit Q2 2015 earnings. Firstly, we provide an analysis of Fitbit quarterly revenues, revenue growth, profit margins. Then, we provide an analysis of Fitbit’s geographic segment revenues. Then, we provide an analysis of the total number of devices sold by Fitbit. All of the analysis is also available through a presentation over SlideShare.
Fitbit Q2 2015 Revenues
Fitbit Q2 2015 total revenues reached $400 million. The overall revenues grew 253% YoY. The analysts had expected $319 million of revenues and 181% YoY growth. Clearly, Fitbit Q2 2015 results exceeded the analyst’s expectations by a big margin. Yet, Fitbit stock went down nearly 13% in the extended trading. One of the reasons that can be attributed to the drop in share price is the Fitbit guidance for Q3 2015 and 2015.
Fitbit guided $335-$365 million revenues for Q3 and $1.6-$1.7 billion revenues for 2015. If we take the upper-end of both the guidance, then, Fitbit is likely to generate $598 million in revenues in Q4. This translates into 139% YoY growth in Q3 and 61% YoY growth in Q4. So, the growth is likely to fall down sharply. The street may have expected more, after the strong Q2 growth.
Fitbit Q2 2015 Profits
Fitbit Q2 2015 operating profits were $80.4 million. The Q2 2015 operating profit margin was 20.1%. Fitbit operating profit margin in Q2 2014, a year earlier, was 22.7%.
Fitbit Q2 2015 net profits were $17.7 million. The Q2 2015 net profit margin was 4.4%. Fitbit’s net profit margin in Q2 2015, a year earlier, was 13.0%.
So, the profit margins have declined year-over-year.
Fitbit Q2 2015 Geographic Segment Revenues
Fitbit Q2 2015 US revenues reached $312.7 million, up 253% YoY.
Fitbit Q2 2015 International revenues reached $87.7 million, up 250% YoY. The EMEA region revenues grew 301% YoY and the APAC region revenues grew 292% YoY.
The share of US revenues in the Fitbit total revenues during Q2 2015 was 78.1%. The share of international revenues in the Fitbit total revenues during Q2 2015 was 21.9%.
Fitbit Devices Sold Q2 2015
Fitbit sold 4.5 million connected health and fitness devices in Q2 2015. On a TTM (Trailing Twelve Months) basis, Fitbit has sold nearly 16 million devices.
Fitbit Business Analysis Presentation Q2 2015
Please refer to the presentation below over SlideShare for:
- Fitbit Overall Revenues And Profits Analysis Q2 2015;
- Fitbit Geographic Segments Revenues Analysis Q2 2015 – the US, Americas excluding the United States, Europe, Middle East, and Africa, APAC
- Fitbit Devices Sold Q2 2015
If the fonts in the charts appear small, please view the presentation in full-screen mode.