Fitbit, Inc. reported its 2017 Q1 result with net revenue of $298.9 million and a GAAP net loss of $60.1 million. The net revenues fell by 40% compared to last year, primarily on account of the ongoing restructuring plan to re-position the company within the wearables and connected health market.
While the company sold over three million devices in 2017 Q1, U.S. revenue and APAC revenue contracted by 52% to $170 million, and by 63% to $21 million respectively. Only the EMEA segment grew, by 17% to $88 million. The average selling price per device also fell by 4%. The company has issued revenue guidance for 2017 Q2 in the range of $330-$350 million.
