IN BRIEF
Garmin reports record revenue of $1.99 billion for the third quarter of 2026, up 12%. The fitness segment, home to the Edge cycling computers, grew 16%, driven mainly by wearables. The group is raising its full-year guidance to revenue of approximately $8.15 billion, compared with approximately $8.05 billion previously.
| Quarterly revenue | $1.99 billion, +12% |
| Operating income | $612 million, +34% |
| Fitness segment | +16%, $231 million of operating income |
| 2026 revenue guidance | approximately $8.15 billion (up from approximately $8.05 billion) |
The quarter ended on 26 September. Garmin enters the holiday selling season with approximately $4.1 billion in cash and marketable securities.
Garmin: the fitness segment, home to its cycling computers, grows 16%
In the third quarter, fitness segment revenue grew 16%, growth that Garmin attributes primarily to strong demand for wearables. The segment posted a gross margin of 63% and an operating margin of 33%, resulting in $231 million of operating income.
On the cycling side, the press release highlights the recently announced next generation of Edge computers: the Edge 1060, featuring a built-in microphone and speaker for hands-free voice control, and the Edge Explore 3 series, an easy-to-use bike computer for riders of all levels. During the quarter Garmin also launched the CIRQA Smart Band, a screenless wearable focused on wellness and fitness.
2026 guidance raised ahead of the holidays
Cliff Pemble, President and Chief Executive Officer of Garmin, commented on the quarter:
“We achieved another quarter of record operating results driven by strength across markets and product categories, with meaningful contributions from recently launched products.”
Cliff Pemble, President and Chief Executive Officer of Garmin
He adds that Garmin is raising its 2026 outlook based on the results achieved so far and the momentum seen going into the holiday selling season. The group now expects full-year revenue of approximately $8.15 billion, compared with approximately $8.05 billion in the guidance published with its second-quarter results.
Garmin’s other businesses
The outdoor segment, home to adventure watches, grew 20%; marine gained 16%, led by fishfinders, and aviation 5%. The auto OEM business, by contrast, fell 20%. Garmin reports quarterly operating income of $612 million, up 34%, with a gross margin of 63.3% and an operating margin of 30.8%.
