Fitbit (FIT) Files for $100M IPO

(Updated - May 7, 2015 3:48 PM EDT)

Fitbit, Inc. (NYSE: FIT) filed a registration with the U.S. SEC for an IPO of its Common Stock. The proposed maximum offering price is $100 million. The company plans to list on the NYSE under the ticker, FIT.

Underwriters include Morgan Stanley, Deutsche Bank, BofA/Merrill Lynch, Barclays, Piper Jaffray, SunTrust Robinson Humphrey, Raymond James, Stifel, and William Blair.

Brief financial summary: "In 2011, 2012, 2013, and 2014, we had revenue of $14.5 million, $76.4 million, $271.1 million, and $745.4 million, respectively, net income (loss) of $(4.3) million, $(4.2) million, $(51.6) million, and $131.8 million, respectively, and adjusted EBITDA of $(4.0) million, $(2.4) million, $79.0 million, and $191.0 million, respectively. For the three months ended March 31, 2014 and 2015, we had revenue of $108.8 million and $336.8 million, respectively, net income of $8.9 million and $48.0 million, respectively, and adjusted EBITDA of $42.0 million and $93.4 million, respectively."

According to the company, "Fitbit is transforming the way millions of people around the world achieve their health and fitness goals. The Fitbit platform combines connected health and fitness devices with software and services, including an online dashboard and mobile apps, data analytics, motivational and social tools, personalized insights, and virtual coaching through customized fitness plans and interactive workouts ... The core of our platform is our family of six wearable connected health and fitness trackers."

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