Fitbit, inc. (FIT)
Income statement / Quarterly
Apr'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Sep'14Jun'14
Revenue

188,158

502,142

347,200

313,556

271,890

571,199

393,575

299,344

247,865

570,756

392,522

353,299

298,942

573,775

503,802

586,528

505,356

711,570

409,262

400,412

336,754

152,862

113,572

Cost of revenue

133,236

380,089

239,248

205,342

182,437

354,272

240,061

180,329

133,742

322,159

217,762

204,054

180,643

447,273

263,144

341,559

271,601

363,271

213,249

212,870

167,545

69,257

55,183

Gross profit

54,922

122,053

107,952

108,214

89,453

216,927

153,514

119,015

114,123

248,597

174,760

149,245

118,299

126,502

240,658

244,969

233,755

348,299

196,013

187,542

169,209

83,605

58,389

Operating expenses:
Research and development

81,589

86,703

65,693

70,919

77,039

75,946

79,840

87,047

89,336

90,541

84,170

80,543

87,758

85,062

82,972

79,909

72,248

54,227

42,890

30,492

22,426

14,945

11,809

Sales and marketing

56,961

106,828

71,296

83,060

68,616

104,518

66,676

100,845

72,052

145,600

77,536

100,732

91,174

186,194

79,872

118,138

107,051

154,069

65,115

69,690

43,867

17,539

13,311

General and administrative

42,041

43,591

23,083

24,865

26,692

25,516

24,812

30,211

36,088

31,119

40,690

31,379

30,746

40,606

33,333

37,262

35,702

29,466

20,698

14,648

12,981

7,849

7,443

Change in contingent consideration

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-7,704

-

0

0

Total operating expenses

180,591

237,122

160,072

178,844

172,347

205,980

171,328

218,103

197,476

267,260

202,396

212,654

209,678

311,862

196,177

235,309

215,001

237,762

128,703

107,126

79,274

40,333

32,563

Operating loss

-125,669

-115,069

-52,120

-70,630

-82,894

10,947

-17,814

-99,088

-83,353

-18,663

-27,636

-63,409

-91,379

-185,360

44,481

9,660

18,754

110,537

67,310

80,416

89,935

43,272

25,826

Interest income, net

1,293

1,815

2,388

2,622

3,466

2,209

2,072

2,177

1,350

1,196

1,162

193

1,096

765

970

839

582

43

-216

-379

-467

-680

-452

Other income (expense), net

-4

115

-492

461

1,273

-276

-5,141

2,258

517

2,662

-702

303

533

-54

-1,037

-463

1,568

-101

-744

-45,308

-13,077

-2,816

-3,687

Loss before income taxes

-124,380

-113,139

-50,224

-67,547

-78,155

12,880

-20,883

-94,653

-81,486

-14,805

-27,176

-62,913

-89,750

-184,649

44,414

10,036

20,904

110,479

66,350

34,729

76,391

39,776

21,687

Income tax expense (benefit)

-144,674

7,590

1,700

1,000

1,310

-2,504

-18,800

23,600

-609

30,665

86,227

-4,673

-29,671

-38,376

18,294

3,695

9,869

46,362

20,516

17,000

28,394

-29,136

6,934

Net income (loss)

20,294

-120,835

-51,893

-68,518

-79,465

15,372

-2,056

-118,268

-80,877

-45,470

-113,403

-58,240

-60,079

-146,273

26,120

6,341

11,035

64,165

45,834

17,681

47,997

68,912

14,753

Less: noncumulative dividends to preferred stockholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

1,212

1,314

1,343

1,327

Less: undistributed earnings to participating securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

11,829

0

11,244

36,060

52,420

10,423

Net income (loss) attributable to common stockholdersbasic

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

52,336

45,834

5,225

10,623

15,149

3,003

Add: adjustments for undistributed earnings to participating securities

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-15,675

0

1,862

4,992

5,387

-1,058

Net income (loss) attributable to common stockholdersdiluted

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

54,303

45,834

7,087

15,615

20,536

4,061

Net income (loss) per share:
Basic (in dollars per share)

0.08

-0.47

-0.20

-0.27

-0.31

0.08

-0.01

-0.49

-0.34

-0.19

-0.48

-0.25

-0.27

-0.67

0.12

0.03

0.05

0.31

0.22

0.09

0.26

0.38

0.07

Diluted (in dollars per share)

0.07

-0.47

-0.20

-0.27

-0.31

0.08

-0.01

-0.49

-0.34

-0.19

-0.48

-0.25

-0.27

-0.66

0.11

0.03

0.05

0.27

0.19

0.07

0.22

0.34

0.07

Shares used to compute net income (loss) per share:
Basic (in shares)

265,661

261,963

258,753

256,160

253,124

250,245

245,838

242,898

239,431

237,053

234,242

230,322

226,511

224,315

222,412

218,850

216,043

213,138

206,657

58,548

41,201

40,376

40,193

Diluted (in shares)

276,946

261,963

258,753

256,160

253,124

250,245

245,838

242,898

239,431

237,053

234,242

230,322

226,511

153,596

243,687

242,328

242,009

247,713

243,660

95,190

70,289

61,003

60,487