UPDATE: Fitbit (FIT) Tops Q2 EPS by 13c, Offers Q3 & FY Outlook

Fitbit (NYSE: FIT) reported Q2 EPS of $0.21, $0.13 better than the analyst estimate of $0.08. Revenue for the quarter came in at $400 million versus the consensus estimate of $319.45 million.

“Our second quarter results included our highest quarterly revenue in the eight-year history of Fitbit,” said James Park, Fitbit co-founder and CEO. “In the quarter, we introduced new features and services, expanded brand awareness, increased global distribution and further penetrated the corporate wellness market. We remain focused on continuing to deliver innovative products and services that empower people around the world to reach their health and fitness goals.”

Outlook

Fitbit’s outlook for the third quarter of 2015 is as follows:

Revenue in the range of $335 million to $365 million
Non-GAAP gross margin in the range of 47% to 48%
Non-GAAP tax rate of approximately 37%
Stock-based compensation expense in the range of $15 million to $17 million
Non-GAAP diluted net income per share in the range of $0.07 to $0.10
Adjusted EBITDA in the range of $35 million to $45 million
Non-GAAP diluted share count between 247 million and 249 million

Fitbit’s outlook for the full year of 2015 is as follows:

Revenue in the range of $1.6 billion to $1.7 billion
Non-GAAP gross margin in the range of 47% to 48%
Non-GAAP tax rate of approximately 37%
Stock-based compensation expense in the range of $50 million to $54 million
Non-GAAP diluted net income per share in the range of $0.69 to $0.77
Adjusted EBITDA in the range of $275 million to $310 million
Non-GAAP diluted share count between 235 million and 240 million

(Street sees Q2 EPS of $0.07 on revenue of $261.90M, FY EPS of $0.61 on revenue of $1.41 billion).

For earnings history and earnings-related data on Fitbit (FIT) click here.

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