earnings call
Despite some wins across its various business efforts, Fitbit's mounting losses provide some insight as to why the company was looking to sell.
Also: Medtronic and Samsung's digital health partnership yields more devices; New handheld ultrasounds available.
The company increased its overall year-over-year revenue by 5% in Q2.
These management devices are "no longer a minor presence relative to the various drug therapies," CEO Kevin Sayer said during the call.
The company laid off more than half of its staff since the beginning of 2019.
Revenue, membership and total visits each saw substantial growth since last year's Q2 earnings, although the company is still chasing profitability.
Also: PillPack and Surescripts continue their feud; Tempu Sealy's sleep-tracking smart bed.
The company's executives lauded the CGM system, which saw a 72.9% increase in organic sales during the last quarter, and hinted at implementations of the tech beyond diabetes alone.
Fitbit sales are trending up, with a 10% year over year increase in revenue.
Also: uBiome's FBI investigation; Better Therapeutics' pivotal trial plans.