Garmin has a clear growth driver.
By the numbers: In Q1 2026, Garmin reported $1.75B in revenue, up 14% YoY, with operating income rising 30% to $432M and margins expanding to 24.6% — largely attributed to its wearables division.
Active users. The fitness segment generated $547M, rising 42% YoY, making it the company’s fastest-growing category, driven by strong demand for its next-gen wearables.
Now accounting for ~31% of total revenue, fitness devices are the company’s largest segment, outpacing aviation (+18%) and marine (+11%) while offsetting declines in outdoor (-5%).
Stacking layers. Connecting dots, Garmin added premium features to contextualize health data and reach new audiences — partnering with Natural Cycles on fertility tracking while launching AI coaching and circadian rhythm scores.
Maintaining loyalty from runners and cyclists, it created aerobic efficiency metrics while refining its maps and social workout sharing. Exploring new tech, its WHOOP competitor CIRQA is rumored to be launching soon, as patents for optical glucose monitoring and EMG muscle health suggest what’s next.
Punchline: Fitness wearables are Garmin’s growth engine, turning health- and performance-focused devices into a profit center.