Fitbit, Inc. Revises Earnings Guidance for the Fourth Quarter 2016, Revises Revenue Guidance for the Full Year 2016 and Provides Earnings Guidance for the Full Year 2016 and 2017
For the full-year 2016, the company expects annual revenue growth to be approximately 17% from the previous forecasted growth of 25% to 26%.
For the year 2016, the company expects to earn approximately $32 million in non-GAAP free cash flow.
For the year 2017, the company expects preliminary revenue guidance of $1.5 billion to $1.7 billion, preliminary non-GAAP basic net loss per share of $0.22 to $0.44 per basic share, preliminary non-GAAP free cash flow guidance of approximately negative $50 million to $100 million and long-term non-GAAP gross margin of approximately 45% versus previous 50% target.