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Checking In on Fitbit's Rebuilding Year

TheMotleyFool

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Fitbit (NYSE: FIT) stock is down over 15% year to date as the company executes on its self-proclaimed "transition year". The most recent quarter wasn't one to write home about either, but looking under the covers, you'll see improvements in the business fundamentals.

Over the past year, the company has upped the quality of its revenue, expanded gross margins, reduced operational expenses, and all the while maintained a solid balance sheet.

Bad news: Fitbit revenue for the quarter was down 22% year over year. On the other hand,

Source: Fool.com