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Fitness tracker manufacturer
Fitbit prepares to go public
08.05.2021 [15:55],
Sergey Karasev

Fitbit has filed with the US Securities and Exchange Commission (SEC) for an IPO – an initial issue of shares.

Fitbit, we recall, is the developer of fitness trackers – wearable devices used to monitor physical activity and track vital signs of the body.

SEC documents say Fitbit sold 10.9 million trackers last year. For comparison: in 2021, sales were 4.5 million units, and in 2021 – 1.3 million.

Last year’s revenue reached $ 745.4 million, while in 2021 and 2021 the company received $ 271.1 and $ 76.4 million, respectively. Net profit in 2021 exceeded $ 130 million.

Fitbit also notes that the base of active paying users as of December 31, 2021 was 6.7 million people.

The issue of shares will be carried out with the participation of Morgan Stanley, Deutsche Bank and Bank of America Merrill Lynch. During the IPO, it is planned to raise about $ 100 million. Fitbit shares will be listed on the New York Stock Exchange under the ticker FIT.

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