Garmin
Garmin is gaining ground.
What’s happening: Last week, the wearable maker reported Q3 earnings, posting its third straight quarter of record sales.
- Revenue reached $1.59B, up 24% YoY
- Operating income topped $437M, up 62% YoY
- Gross & operating margins increased 60% & 27.6%, respectively
Of note, its fitness division grew 31% to $464M, driven by demand for running- and wellness-focused devices.
Meanwhile, its outdoor segment gained 21% reaching $527M fueled by adventure watches, including the launch of fēnix 8 and Enduro 3.
Core strength. Beloved by endurance athletes, Garmin played the long game, outlasting deep-pocketed rivals like Apple and Google to remain competitive in the wearable wars.
With its market cap approaching $40B as its stock climbs, the company has room to grow.
Along with new hardware, Garmin recently launched AI coaching for running and cycling while upgrading its map content with point-of-interest and campground overlays.
Punchline: Building concurrent wearables series—from kids to everyday wear to exploration—Garmin is broadening appeal without alienating die-hards.
