November 2, 2017
On Fitbit’s third quarter earnings call yesterday, the company shared that, between spending cuts and the launch of the its long-awaited smartwatch, the company is pulling out of the earnings slump it’s been experiencing. The call also saw CEO James Park talking more than ever about the fitness wearable’s clinical applications and the ways in which those ambitions are coming to fruition.
September 7, 2017
Good news for anyone who thought Fitbit's move toward the smartwatch market would be a move away from health: The wearable maker has just announced a partnership with Dexcom that will bring data from the company's continuous glucose monitor directly to the display of Fitbit's upcoming Ionic smartwatch.
Athough Fitbit's have been used in the management of chronic diseases in a number of hospital...
August 3, 2017
Fitbit plans on making waves this holiday season. That’s when the company's long-awaited smartwatch, which has faced production issues and delays, will finally be released, CEO James Park said in a second-quarter earnings call.
The smartwatch will offer features such as health and fitness tracking, GPS capability, water resistance up to 50 meters and compatibility across platforms, as well as a...
May 4, 2017
Fitbit is showing signs of rebounding after a weak Q4 that saw layoffs and restructuring for the wearable company. In its Q4 earnings call, the company reported a net loss per share of 15 cents, compared to a projected loss of 18 percent.
“Twenty-seventeen marks a 10-year anniversary for the company,” CEO James Park said on the company’s earnings call. “We have accomplished much over this period...
February 23, 2017
The hard financial news wasn't good on Fitbit's fourth quarter earnings call: The company's revenue, at $574 million, was down 19.3 percent year-over-year, and down $2 million from the company's projection. It was also the second consecutive quarter that the company missed its earnings target.
Fitbit released a statement a few weeks ago detailing the immediate plan to get earnings back on track:...
January 30, 2017
Fitbit will lay off 110 employees, 6 percent of its global workforce, as part of a reorganization designed to save the company $200 million in operating expenses after the wearable leader underperformed in the fourth quarter. The Information broke the story yesterday, saying as many as 10 percent of Fitbit's employees might be laid off, but the company's announcement today confirmed the lower...
January 10, 2017
Following on its acquisition of Pebble, and the company's announcement just this week that it would be developing an app store, Fitbit has announced another smartwatch acquisition: Vector, a year-old Romanian startup that boasts a smartwatch with a 30-day battery life. The terms of the acquisition are so far undisclosed.
"Fitbit can confirm it has acquired specific assets from Vector Watch, a...
January 9, 2017
When Fitbit bought Pebble at the end of last year, the evidence seemed against Fitbit branching into real smartwatches: The company explicitly declined to buy Pebble's hardware business or hire any members of Pebble's hardware team. But now Fitbit CEO James Park has confirmed to The Verge that Fitbit is planning to very soon launch its own app store, a sure sign, The Verge thinks, that Fitbit is...