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Revenue
 3 Months Ended
Mar. 28, 2026
Revenue from Contract with Customer [Abstract]  
Revenue

2. Revenue

 

In order to further depict how the nature, amount, timing and uncertainty of the Company's revenue and cash flows are affected by economic factors, Garmin disaggregates revenue (or “net sales”) by geographic region, major product category, and pattern of recognition.

Disaggregated revenue by geographic region (Americas, EMEA, and APAC) is presented in Note 11 – Segment Information and Geographic Data. Note 11 also contains disaggregated revenue information of the five major product categories identified by the Company (fitness, outdoor, aviation, marine, and auto OEM), which also represent the Company’s operating segments.

A large majority of the Company’s revenue is recognized on a point in time basis, usually once the product is shipped and title and risk of loss have transferred to the customer. Revenue recognized over time is primarily within the outdoor, aviation, and auto OEM segments and relates to performance obligations that are satisfied over the estimated life of the product or contractual service period. Revenue disaggregated by pattern of recognition, based on the timing of transfer of the goods or services, is presented in the table below:

 

 

 

13-Weeks Ended

 

 

 

March 28, 2026

 

 

March 29, 2025

 

Point in time

 

$

1,669,138

 

 

$

1,453,353

 

Over time

 

 

84,351

 

 

 

81,746

 

Net sales

 

$

1,753,489

 

 

$

1,535,099

 

 

Transaction price and costs associated with the Company’s unsatisfied performance obligations are reflected as deferred revenue and deferred costs, respectively, on the Company’s condensed consolidated balance sheets. Such amounts are recognized ratably over the applicable estimated useful life or contractual service period. Changes in deferred revenue and costs during the 13-week period ended March 28, 2026 are presented below:

 

 

13-Weeks Ended
March 28, 2026

 

 

 

Deferred
 Revenue (1)

 

 

Deferred
Costs (2)

 

Balance, beginning of period

 

$

127,923

 

 

$

21,911

 

Deferrals in period

 

 

79,801

 

 

 

14,052

 

Recognition of deferrals in period

 

 

(84,351

)

 

 

(16,593

)

Balance, end of period

 

$

123,373

 

 

$

19,370

 

 

(1) Deferred revenue is comprised of both deferred revenue and noncurrent deferred revenue per the condensed consolidated balance sheets.

 

(2) Deferred costs are comprised of both deferred costs and noncurrent deferred costs per the condensed consolidated balance sheets.

Of the $84,351 of deferred revenue recognized in the 13-week period ended March 28, 2026, approximately $34,000 was deferred as of the beginning of the period. Of the $123,373 of deferred revenue as of March 28, 2026, the Company expects to recognize approximately 87% ratably over a total period of three years or less.