Fitbit, inc. (FIT)
CashFlow / TTM
Apr'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15
Cash Flows from Operating Activities
Net income (loss)

-220,952

-320,711

-184,504

-134,667

-184,417

-185,829

-246,671

-358,018

-297,990

-277,192

-377,995

-238,472

-173,891

-102,777

107,661

127,375

138,715

175,677

0

0

0

Adjustments to reconcile net income (loss) to net cash used in operating activities:
Provision for doubtful accounts

6,751

297

48

104

88

56

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Provision for excess and obsolete inventory

14,378

6,011

7,972

7,936

6,969

11,828

10,457

14,438

17,173

14,833

17,374

12,737

8,759

4,993

1,537

1,188

3,530

5,060

0

0

0

Depreciation

51,355

54,139

56,716

55,423

51,806

48,889

47,021

44,344

41,287

39,971

40,501

42,124

38,711

36,046

30,916

25,007

22,517

19,405

0

0

0

Non-cash lease expense

12,981

19,170

17,961

11,615

7,713

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Accelerated depreciation of property and equipment

219

206

387

416

472

7,731

7,513

7,485

12,509

5,250

24,293

24,406

19,321

19,805

1,968

1,855

1,690

1,206

0

0

0

Amortization of intangible assets

10,600

8,700

8,100

8,195

8,300

7,900

7,466

6,752

6,023

5,700

4,643

3,774

2,931

2,087

2,111

2,113

2,129

1,702

0

0

0

Stock-based compensation

76,922

77,739

82,571

88,602

93,912

97,009

97,938

96,620

92,729

91,581

88,513

85,721

84,155

79,432

73,515

66,544

53,891

41,024

0

0

0

Deferred income taxes

450

384

-240

-1,115

-769

-2,548

39,401

156,470

177,112

173,906

60,175

-47,845

-100,858

-100,434

-38,044

-58,879

-43,244

-42,538

0

0

0

Excess of tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Revaluation of redeemable convertible preferred stock warrant liability

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

56,655

0

0

0

Other

570

515

-752

-814

-1,170

-1,395

-1,778

-1,631

124

216

1,201

1,705

-1,153

-423

-477

-1,257

50

-263

0

0

0

Changes in operating assets and liabilities, net of acquisition:
Accounts receivable

-61,594

21,313

19,646

16,670

36,426

8,036

64,888

33,186

27,151

-63,784

-192,442

-160,927

-144,998

8,701

217,844

126,729

179,253

231,100

0

0

0

Inventories

-52,788

18,471

58,296

29,826

36,511

12,860

67,383

13,574

-37,629

-92,129

-68,356

-32,862

633

61,975

-46,162

5,125

78,059

68,108

0

0

0

Prepaid expenses and other assets

25,486

-15,141

-14,430

-102,297

-98,858

-125,914

-135,749

25,163

72,525

113,111

124,592

72,115

22,305

37,876

63,339

42,805

37,542

29,215

0

0

0

Increase (Decrease) in Income Taxes Receivable

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Fitbit Force recall reserve

-88

-1

192

-18

-267

-445

0

0

0

-

-

-1,395

-3,381

-3,869

-10,165

-10,747

-10,766

-17,354

0

0

0

Accounts payable

-75,282

-52,560

30,676

-1,126

37,706

35,207

52,402

66,660

6,349

-86,115

-63,381

-131,880

-114,648

45,654

-76,134

22,895

99,920

56,759

0

0

0

Accrued liabilities and other liabilities

19,532

93,262

-5,170

-36,045

-11,793

-11,978

37,228

26,102

38,198

56,172

121,207

115,398

122,459

213,361

151,376

183,918

182,303

138,748

0

0

0

Increase (Decrease) in Lease Liabilities

0

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liabilities

22,673

22,889

20,975

-13,577

4,972

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

0

-

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred revenue

4,065

4,006

1,441

526

-1,871

-5,622

-7,275

-11,618

-10,482

-7,472

-4,944

-1,994

-4,025

5,456

17,925

25,075

33,905

34,891

0

0

0

Income taxes payable

351

-456

-5,185

-21,740

1,005

575

3,987

19,829

-4,012

-3,488

25,558

30,763

43,170

47,136

52,251

49,029

21,562

4,336

0

0

0

Net cash used in operating activities

-171,151

-156,832

-73,429

26,348

35,396

113,207

57,047

3,796

25,261

64,241

81,720

17,521

44,415

138,720

81,495

261,533

252,040

141,257

0

0

0

Cash Flows from Investing Activities
Purchase of property and equipment

33,991

36,531

38,983

35,183

46,360

52,880

71,135

77,867

73,619

89,160

70,041

81,712

90,121

78,640

79,616

55,566

42,233

30,566

0

0

0

Purchases of marketable securities

295,699

347,579

356,931

349,631

324,159

353,948

388,379

505,067

609,676

597,933

579,843

562,995

705,140

638,055

658,974

623,673

293,511

230,935

0

0

0

Sales of marketable securities

-

-

-

-

-

9,983

115,620

102,370

88,945

42,406

21,306

21,503

50,767

46,511

0

0

0

-

-

-

-

Maturities of marketable securities

345,478

405,596

446,403

436,448

413,862

433,594

431,272

507,956

592,538

622,525

567,081

526,656

372,204

315,774

293,769

184,762

166,098

44,500

0

0

0

Acquisitions, net of cash acquired

-

-

-

-

-

19,253

13,646

14,202

14,202

556

0

0

0

-

-

-

-

11,037

0

0

0

Net cash provided by investing activities

20,063

25,761

-38,764

-15,744

-3,076

17,496

67,732

7,190

-22,014

-28,718

-94,709

-129,204

-410,546

-392,666

-359,469

-403,252

-111,635

-170,027

0

0

0

Cash Flows from Financing Activities
Repayment of debt

-

-

-

-

-

747

747

747

747

0

0

0

0

-

-

-

-

294,503

0

0

0

Payment of financing lease liability

2,106

2,703

2,239

937

597

0

0

0

0

-

-

-

-

1,236

1,553

3,803

6,324

5,089

0

0

0

Proceeds from issuance of common stock

12,545

13,018

16,873

17,544

21,409

21,470

16,759

18,342

17,422

19,011

21,546

22,909

26,176

25,969

21,394

18,043

6,322

4,018

0

0

0

Excess of tax benefit from stock-based compensation

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

0

Taxes paid related to net share settlement of restricted stock units

17,617

18,171

17,247

20,098

20,679

19,436

19,256

19,129

16,428

14,376

12,515

9,066

7,492

4,939

3,228

1,107

574

0

0

0

0

Proceeds from issuance of debt and revolving credit facility

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

160,000

0

0

0

Net cash used in financing activities

-7,728

-8,406

-2,613

-3,491

133

1,287

-3,244

-1,534

247

4,635

9,031

13,843

18,684

19,794

100,255

96,775

343,951

368,953

0

0

0

Net decrease in cash and cash equivalents

-158,816

-139,477

-114,806

7,113

32,453

131,990

121,535

9,452

3,494

40,158

-3,958

-97,840

-347,447

-234,152

-177,719

-44,944

484,356

340,183

0

0

0

Effect of exchange rate changes on cash and cash equivalents

-

-

-

-

-

-

-

-

-

488

419

406

-336

-374

-341

-190

-143

37

0

0

0

Supplemental Disclosure
Cash paid for interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,157

0

0

0

Cash paid (received) for income taxes, net of $72 million income tax refund in 2018

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

150,923

0

0

0

Supplemental Disclosure of Non-Cash Investing and Financing Activity
Purchase of property and equipment included in accounts payable and accrued liabilities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,534

0

0

0

Deferred offering costs included in accounts payable and accruals

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,080

0

0

0

Issuance of common stock in connection with acquisitions

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

13,317

0

0

0