Garmin Q1 FY26: where the revenue came from and where it went
The whole income statement of Garmin for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Dec 28, 2025 – Mar 28, 2026
- Reported
- Apr 29, 2026
Revenue$1.75B
+14% year over year
Gross profit$1.04B
59% margin
Operating profit$0.43B
25% margin
Net profit$0.41B
23% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 1.75 | 100% | +14% |
| At point in time | 1.67 | 95% | +15% |
| Transferred over time | 0.08 | 5% | +3% |
| Cost of revenue | −0.71 | 41% | |
| Gross profit | 1.04 | 59% margin | +2pp |
| R&D | −0.30 | 17% | −1pp |
| SG&A | −0.32 | 18% | −1pp |
| Operating profit | 0.43 | 25% margin | +3pp |
| Other income, net | 0.04 | ||
| Tax | −0.07 | ||
| Net profit | 0.41 | 23% margin | +1pp |
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