Garmin Posts Record Q1 Revenue of $1.75B as Fitness Wearable Sales Surge 42%

Garmin just posted its best first quarter ever, reporting consolidated revenue of $1.75 billion — a 14% year-over-year increase. The star performer was the fitness segment, which includes smartwatches and wearables, posting a remarkable 42% revenue increase to $547 million with operating income more than doubling to $158 million.

Key Earnings Highlights

• Revenue: $1.75 billion, up 14% YoY — a new Q1 record
• Fitness segment: $547 million, up 42% YoY with 29% operating margin
• EPS: $2.08 pro forma, beating the $1.81 forecast by 15%
• Operating income: $432 million, up 30% with margins expanding to 24.6%
• Gross margin: 59.4%, up 290 basis points

What's Driving the Surge

CEO Cliff Pemble attributed the fitness growth to "higher unit volumes and meaningful market share gains in the wearable category." Garmin's premium positioning with devices like the Garmin Venu 4 and Fenix 8 Pro series is paying off as consumers shift toward specialized fitness wearables over general-purpose smartwatches. Pemble confirmed the fitness segment will be "the strongest contributor to 2026 consolidated growth."

What This Means for Buyers

Garmin's confidence signals that the Fenix 9 launch — expected August to October 2026 — is on track. If you're considering a Garmin wearable, the current Venu 4 at $549 remains excellent value, while waiting for the Fenix 9 makes sense for outdoor enthusiasts. Compare options in our smartwatch guide.