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Behind Fitbit’s Key 3Q17 Metrics

Adam Rogers - Author
By

Aug. 18 2020, Updated 5:15 a.m. ET

Over 70 million devices sold to date

Fitbit (FIT) has sold over 70 million devices to date. In 3Q17, Fitbit sold 3.6 million devices—a fall of 32% YoY (year-over-year), compared with 5.3 million devices sold in 3Q16. Devices sold rose 6% from 3.4 million devices in 2Q17.

Fitbit stated that it was the number one Health and Fitness application downloaded on iOS (AAPL) and Android (GOOG) (GOOGL) during 3Q17.

Fitbit’s recently launched smartwatch, the Ionic, received the best customer reviews on Amazon.com (AMZN) among all Fitbit products. It also accounted for ~50% of all smartwatches sold in the US on Amazon. Fitbit has a wide range of products at various price points. The company’s products are available in over 46,000 stores and across 78 countries.

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Huge database of information

Fitbit has a huge database of activity, exercise and sleep information of consumers. The firm has recorded over 90 billion hours of heart rates, 5.4 billion nights of sleep, and 167 billion minutes of exercise.

The ASP (average selling price) for Fitbit rose 4% QoQ (quarter-over-quarter) and 12% YoY in 3Q17 to $104.72 per device. New products launched by Fitbit over the past 12 months, such as the Fitbit Alta HR and the Fitbit Ionic accounted for 32% of total revenues in 3Q17.

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