# GARMIN LTD (GRMN) FY2025 Q1 P&L / Income Statement

- Company: GARMIN LTD (GRMN)
- Period: 2024-12-29 to 2025-03-29
- Filing: Q1 FY2025 10-Q, filed 2025-04-30, accession number 0000950170-25-060555
- Page: https://plicit.ai/financials/grmn/fy2025-q1-income-statement
- Chart image: https://plicit.ai/charts/grmn-fy2025-q1-income-statement-sankey.png

## Chart details: Revenue by Business Segment

Income statement for 2024-12-29 through 2025-03-29. View: Business segment. Revenue and costs use their disclosed categories.

- **Net sales**: 1,535,099,000 US dollars
- **Cost of goods sold**: 650,554,000 US dollars
- **Gross profit**: 884,545,000 US dollars
- **Total operating expense**: 551,721,000 US dollars
- **Operating income**: 332,824,000 US dollars
- **Total other income (expense)**: 56,254,000 US dollars
- **Income before income taxes**: 389,078,000 US dollars
- **Income tax provision**: 56,309,000 US dollars
- **Net income**: 332,769,000 US dollars
- **Fitness Segment revenue**: 384,722,000 US dollars
- **Outdoor Segment revenue**: 438,496,000 US dollars
- **Aviation Segment revenue**: 223,114,000 US dollars
- **Marine Segment revenue**: 319,438,000 US dollars
- **Auto OEM Segment revenue**: 169,329,000 US dollars
- **Fitness Segment cost of revenue**: 164,580,000 US dollars
- **Outdoor Segment cost of revenue**: 155,960,000 US dollars
- **Aviation Segment cost of revenue**: 55,212,000 US dollars
- **Marine Segment cost of revenue**: 135,505,000 US dollars
- **Auto OEM Segment cost of revenue**: 139,297,000 US dollars
- **Selling, general and administrative expenses**: 283,601,000 US dollars
- **Research and development expense**: 268,120,000 US dollars

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.

## Chart details: Revenue by Timing of Transfer

- Page: https://plicit.ai/financials/grmn/fy2025-q1-income-statement/revenue-by-timing-of-transfer
- Chart image: https://plicit.ai/charts/grmn-fy2025-q1-revenue-by-timing-of-transfer-sankey.png

Income statement for 2024-12-29 through 2025-03-29. View: Timing of Transfer of Good or Service. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Net sales**: 1,535,099,000 US dollars
- **Cost of goods sold**: 650,554,000 US dollars
- **Gross profit**: 884,545,000 US dollars
- **Total operating expense**: 551,721,000 US dollars
- **Operating income**: 332,824,000 US dollars
- **Total other income (expense)**: 56,254,000 US dollars
- **Income before income taxes**: 389,078,000 US dollars
- **Income tax provision**: 56,309,000 US dollars
- **Net income**: 332,769,000 US dollars
- **Point in time**: 1,453,353,000 US dollars
- **Over time**: 81,746,000 US dollars
- **Selling, general and administrative expenses**: 283,601,000 US dollars
- **Research and development expense**: 268,120,000 US dollars

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.

## Chart details: Revenue by Geography

- Page: https://plicit.ai/financials/grmn/fy2025-q1-income-statement/revenue-by-geography
- Chart image: https://plicit.ai/charts/grmn-fy2025-q1-revenue-by-geography-sankey.png

Income statement for 2024-12-29 through 2025-03-29. View: Geography. Revenue uses this breakdown; costs and expenses retain the consolidated categories.

- **Net sales**: 1,535,099,000 US dollars
- **Cost of goods sold**: 650,554,000 US dollars
- **Gross profit**: 884,545,000 US dollars
- **Total operating expense**: 551,721,000 US dollars
- **Operating income**: 332,824,000 US dollars
- **Total other income (expense)**: 56,254,000 US dollars
- **Income before income taxes**: 389,078,000 US dollars
- **Income tax provision**: 56,309,000 US dollars
- **Net income**: 332,769,000 US dollars
- **Americas**: 745,733,000 US dollars
- **EMEA**: 568,953,000 US dollars
- **Asia Pacific**: 220,413,000 US dollars
- **Selling, general and administrative expenses**: 283,601,000 US dollars
- **Research and development expense**: 268,120,000 US dollars

### Chart connections

- Revenue less cost of revenue equals gross profit; gross profit less operating expenses equals operating income.
- Operating income plus other income or expense equals income before tax. Income before tax less income tax expense or benefit equals net income.