Presentation
Operator
Ladies and gentlemen, thank you for joining us, and welcome to the 2026 Annual General Meeting of Shareholders of Garmin Limited. Thank you for being here. I will now hand the conference over to Josh Maxfield, Chairman of the Annual General Meeting, Vice President and Secretary, Garmin Limited. Josh, please go ahead.
Joshua Maxfield
VP, General Counsel & Secretary
Ladies and gentlemen, may I have your attention, please. We would like to start the annual meeting. Good afternoon to those here in Zurich, and welcome to those listening to the webcast. I am Josh Maxfield, Vice President, General Counsel and Secretary of Garmin Limited. I am acting as Chairman of this 2026 Annual General Meeting of Garmin Limited pursuant to Article 16 of the company’s Articles of Association.
I would like to extend a special welcome to the members of our Board of Directors and our executive management who are present online. Before we commence the formal business of this meeting, I would like to recognize our President and CEO, Cliff Pemble, who will review our achievements in 2025 and the first quarter of 2026.
Clifton Pemble
President, CEO & Director
Thank you, Josh, and welcome to those who are joining from Zurich and to our shareholders who are attending this webcast. 2025 was another remarkable year of achievement for Garmin.
Revenue increased 15% to $7.25 billion, a new record with growth and record revenue in every segment. Operating margin expanded to 25.9%, resulting in record operating income of $1.88 billion, an 18% increase over 2024. We’re off to a great start in 2026, achieving strong double-digit growth in both revenue and operating income
