While the rest of the cycling industry focuses on recovery after a turbulent few years, the fitness tech boom shows no signs of slowing down, with Garmin reporting a record consolidated revenue for 2025, 15 per cent up on the previous year.
Last year, the GPS tech giant’s consolidated revenue was $7.25 billion (around £5.4bn), compared to $6.29 billion (just under £4.7bn) in 2024, the company’s CEO and president announcing in a statement that Garmin will aim to “build on this momentum” over the next 12 months.
2025 Garmin Edge 850 (Image Credit: Garmin)
The US company’s net income also increased by 18 per cent in 2025, rising from $1.7bn in 2024 to $2bn, as earnings per share shot up from $7.35 to $8.59.
For the fourth quarter of 2025, Garmin also reported another record surge of 17 per cent in revenue, rising to $2.12 billion (£1.57bn), up $300m from the $1.82 billion (£1.35bn) recorded during the same period the previous year.
The brand’s fitness segment sales, which include its cycling products, also increased by 42 per cent in the fourth quarter of 2025, totalling $766 million (£569m), while that segment’s revenue grew by 33 per cent to $2.36bn.
Garmin Varia RearVue 820 (Image Credit: Farrelly Atkinson)
Garmin noted that all of its departments, including its outdoor, auto, aviation, and marine segments, posted record full-year revenues for 2025, as the brand shipped over 20 million units last year, itself a high-water mark for the company.
Last summer, Garmin launched its new Edge 550 and Edge 850 cycling computers, before updating its Rally power meter pedals with a new rechargeable spindle offering a claimed 90-hour battery life in December.
And earlier this month, the brand unveiled the new Varia RearVue 820, a radar rear bike light, priced at £260, that promises “advanced vehicle tracking, superior battery life and a brighter taillight than ever before”.
2025 Garmin Forerunner 970.jpg (Image Credit: Farrelly Atkinson)
However, according to Garmin’s latest financial report, the 42 per cent growth in its fitness sector was “primarily due to strong demand for wearables”, as the boom in smartwatches and fitness-specific wearable devices continues.
While we all associate Garmin with cycling computers, selling hundreds of millions of pounds worth of wearable fitness products, such as smartwatches and running-specific devices, has allowed the brand to “diversify” and continue to grow at a time when many across the bike industry are still struggling.
According to the company’s Garmin Connect app data report, users’ activity levels increased by eight per cent during 2025, reflecting, the brand says, “a high level of engagement with our products and app platforms”.
“2025 was another year of remarkable growth and achievement for Garmin with record consolidated revenue, record revenue in all five of our segments, and record consolidated operating income,” Garmin CEO and president Cliff Pemble said in a statement.
“We attribute this strong performance to our strategic focus on market diversification and creating superior products that are essential to our customers’ lives.
“Looking forward, we anticipate building on this momentum with many exciting new product launches throughout the year. I am very proud of what we accomplished in 2025 and look forward to seizing the opportunities ahead.”