Garmin teams up with Clippd for golf data integration

OLATHE, Kan. – Garmin International Inc. (NYSE: GRMN), a $41.26 billion market cap company with impressive 58.7% gross profit margins and 20.44% revenue growth over the last twelve months, has partnered with Clippd, a data-driven golf performance platform, to enhance golfers’ game improvement strategies by integrating on-course data from Garmin’s smartwatches into the Clippd platform. This collaboration, announced today, allows golfers to access comprehensive performance metrics to fine-tune their skills.According to InvestingPro analysis, Garmin maintains a "GREAT" financial health score, though current trading metrics suggest the stock may be overvalued compared to its Fair Value. For detailed valuation insights and 13 additional ProTips, investors can access Garmin’s comprehensive Pro Research Report.

The integration utilizes Garmin’s golf smartwatches, which provide shot detection, and is further refined for users who pair their watches with Approach® CT10 sensors for automatic club tracking. Susan Lyman, Garmin’s Vice President of Consumer Sales and Marketing, expressed enthusiasm about the partnership, noting that it "helps users to easily visualize all parts of their game and identify the areas where they can make the biggest improvements."

Clippd, designed by avid golfers, offers metrics that include Player Quality, Shot Quality, Importance To Scoring, personalized practice plans, and Trends to help golfers and coaches understand and measure skill levels in different game aspects. Piers Parnell, CEO of Clippd, highlighted the significance of being the first to integrate Garmin’s golf data, aiming to transform the tracking and analysis of golf performance.

This agreement leverages the Garmin Golf Premium API™, which was launched earlier this year, allowing third-party applications to access Garmin customers’ golf performance metrics with their consent. This API enables the capture of scorecard, on-course, and range session data to provide insights for golf performance improvement.

Garmin, known for its GPS technology and wearables, continues to innovate in creating products for adventurers, athletes, and outdoor enthusiasts. The company’s commitment to developing products that enhance experiences and provide peace of mind is evident in its range of golf devices, which can be explored at Garmin.com/golf.

This partnership is based on a press release statement and reflects the current plans and expectations of Garmin Ltd. and Clippd. It should be noted that forward-looking statements are subject to risks and uncertainties, and actual results may differ materially. For comprehensive financial analysis and detailed insights into Garmin’s valuation, investors can explore the full range of metrics and expert analysis available on InvestingPro.

In other recent news, Garmin Ltd. reported a record-breaking fourth quarter and full-year 2024, with revenue reaching $1.82 billion in Q4, marking a 23% year-over-year increase. This impressive performance was driven by strong demand for smart wearables and adventure watches, with the fitness segment seeing a 31% rise in sales to $539.31 million. For the full year, Garmin’s revenue climbed 20% to a record $6.30 billion, with all segments achieving record annual revenues. The company’s gross margin for Q4 and the full year expanded by 100 basis points to 59%, attributed to efficient operations and integrated manufacturing capabilities.

Tigress Financial Partners recently raised Garmin’s stock target to $285, maintaining a Strong Buy rating, citing the company’s continuous innovation and new product development as key growth drivers. The analysts expect Garmin’s new product categories to open new markets and enhance revenue growth. Garmin also announced the anticipated Supplemental Type Certificate approval for its GFC 600H Helicopter Flight Control System, designed to improve safety and mission effectiveness for Airbus H130 helicopters. This system introduces features like attitude hold, hover assist mode, and stability protections.

Additionally, Garmin has partnered with Harvard University and the University of Oxford on the Health and Happiness Study, which examines the link between wellbeing and daily activities tracked by smartwatches. This study aims to provide insights that could inform public policies and product development. Garmin’s collaboration with academic institutions underscores its commitment to improving lives through advanced wearable technology.

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