Fitbit Nearly Tripled Revenue Last Year, Files for IPO

Fitbit, the San Francisco-based maker of wearable activity trackers, is preparing for a jump to Wall Street.

The company filed S-1 documents Thursday with the Securities and Exchange Commission in preparation for an IPO. The exact date of the IPO was not listed on the document, and neither was the proposed selling price of shares or what Fitbit hopes to raise, though the company plans to raise at least $100 million in the offering, which will likely go higher once the company updates its filing.

The filing did include some of Fitbit’s financial details. The company’s sales nearly tripled from 2013 to 2014, and Fitbit brought in more than $745.4 million in revenue last year. The company also swung to a $131.8 million profit in 2014 after losing $51.6 million the year before.

Fitbit sold almost 11 million devices in 2014, and almost 21 million devices since launching in 2007.

Fitbit

This article originally appeared on Recode.net.

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