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For additional information regarding the non-GAAP financial measures, see “Non-GAAP Financial Measures” and “Reconciliation of GAAP to Non-GAAP Financial Measures” below.

Third Quarter 2015 Financial Highlights

• Sold 4.8 million connected health and fitness devices
• U.S. comprised 66% of Q3 revenue; APAC 16%, EMEA 12%, and Other Americas 6%
• U.S. revenue grew 130% year-over-year; APAC 314%, EMEA 282%, and Other Americas 286%
• Charge, Charge HR and Surge comprised 79% of revenue
• Q3 Non-GAAP Gross Margin adjusted for international currency impact was 50.8%
• OpEx comprised 28.6% of revenue in Q315, compared to 26.9% in Q215 and 25.0% in Q314
• Q315 cash from operations increased 37x to $121.3 million compared to Q314
• Cash, cash equivalents and marketable securities totaled $575.5 million at September 30, 2015, compared to $64.0 million atSeptember 30, 2014

Third Quarter 2015 and Recent Fitbit Operational Highlights

• Continued strong market share and competitive position
• Software updates to Surge, Charge and Charge HR leading into first full holiday season for those devices
• Enhancements for other regions and cultures, such as integrating Baidu maps in China
• Addition of Windows 10 integration; supported on more than 200 mobile and computing platforms
• Marketing campaigns in 20 countries in second half 2015 vs. eight in 2014
• Added over 20 new enterprise Corporate Wellness customers in the last four months
• Expansion of global customer service capacity

Outlook and Guidance

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

• Revenue in the range of $620 to $650 million
• Non-GAAP gross margin in the range of 48.0 to 49.0%
• Adjusted EBITDA in the range of $80 to $100 million
• Non-GAAP diluted net income per share in the range of $0.20 to $0.25
• Non-GAAP diluted share count between 253 and 255 million
• Stock-based compensation expense in the range of $18 to $20 million
• Non-GAAP tax rate of approximately 33%

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

• Revenue in the range of $1.77 to $1.80 billion
• Non-GAAP gross margin in the range of 48.0 to 48.5%
• Adjusted EBITDA in the range of $345 to $365 million
• Non-GAAP diluted net income per share in the range of $0.92 to $0.96
• Non-GAAP diluted share count between 238 and 239 million
• Stock-based compensation expense in the range of $44 to $46 million
• Non-GAAP tax rate of approximately 33%

Lock-Up Release

Fitbit also announces today that Morgan Stanley & Co. LLC, on behalf of the underwriters of Fitbit’s initial public offering in June 2015, at the request of Fitbit, has agreed to release the lock-up restrictions for Fitbit’s employees and consultants as of October 31, 2015 with respect to approximately 2.3 million shares, which represents up to 10% of the shares of Fitbit common stock, options, and restricted stock units held by such employees and consultants. The release will be effective on November 4, 2015. This will allow Fitbit’s employees and consultants an opportunity in 2015 for liquidity prior to commencement of Fitbit’s quarter end blackout period, which would prohibit any sales until that period ends after the earnings release for the fourth quarter of 2015. The lock-up restrictions are scheduled to expire with respect to the remaining shares as originally planned on December 14, 2015.