Garmin announces Q3 2025 results
Garmin has announced results for the third quarter ended September 27, 2025, reporting record consolidated revenue of approximately $1.8 billion (up 12% year-over-year). The company’s gross and operating margins were 59.1% and 25.8% respectively, and operating income was a record $457 million (up 4% year-over-year).
“We achieved another quarter of strong financial results with growth in both consolidated revenue and operating income, and we experienced strong double-digit revenue growth in three business segments reflecting the strength of our unique, diversified business model,” said Cliff Pemble, president and chief executive officer of Garmin. “Looking ahead, we are well positioned for the holiday selling season with a strong lineup of innovative products.”
Revenue from the marine segment increased 20% in the third quarter with growth across multiple categories. Gross and operating margins were 56% and 19%, respectively, resulting in $49 million of operating income.
During the quarter, Garmin launched the Force Current, the industry’s first hands-free kayak propulsion system, and expanded the Force Kraken trolling motor lineup, which now includes a model with a 110-inch driveshaft for large fishing boats. The company also launched the ECHOMAPTM Ultra 2 chartplotter featuring a 16-inch display with premium mapping and exceptional sonar capabilities.
Based on its performance in the first three quarters of 2025 and recent trends, the company has updated its full-year 2025 guidance. Garmin anticipates revenue of approximately $7.10 billion and pro forma EPS of $8.15 based on gross margin of 58.5%, operating margin of 25.2% and a pro forma effective tax rate of 17.5%.
