Bad news was expected, Fitbit had earlier warned results would be disappointing due to to poor Black Friday week sales.
There was a loss in the fourth quarter of US$146.3mln, while earnings of 56c ignoring one-offs were slightly below consensus. Revenues fell to US$574mln from US$712mln.
Over the year, volumes of wearable watches sold increased to 22.3mln (21.4mln), with active users 37% better at 23.2mln, but that masked a dip in volumes in the final three months to 6.5mln from 8.2mln a year earlier.
Fitbit launched four new fitness trackers over the year but that has not stopped the weak sales trend.
It is now pinning its hopes on a new range of smartwatches, while a major cost cut program has reduced overheads by US$200mln.
For the first quarter of this year, the company predicted sales of US$270-290mln and a loss per share of between US$0.22-0.44.
Shares opened a touch higher at US$5.91.
Story by ProactiveInvestors