Garmin reports 20% revenue growth, acquires Mylaps timing tech
Garmin has posted a strong second quarter, reporting a 20% increase in overall revenue to US$1.81 billion. The company’s fitness division, which includes cycling computers, wearables, and smart training tools, saw a 41% jump in revenue year-on-year, reaching US$605 million between April and June 2025. Garmin attributed the growth to continued demand for its "advanced wearables".
Alongside its Q2 earnings report, Garmin announced the acquisition of Dutch-based Mylaps, a company specialising in race timing tech across cycling, running, motorsports, and equestrian events. Mylaps employs more than 200 staff globally, and Garmin said the acquisition brings real-time tracking and performance analysis tools to its "passionate customers".
Off the back of the strong results, Garmin has also raised its full-year revenue forecast to US$7.1 billion, up from a previous estimate of US$6.85 billion.
