Q: When will the actual price be published?

The cash component should appear in Garmin’s Q3 10-Q around late October 2026. The full consideration and the purchase price allocation appear in the business combinations note of the 10-K, filed around late February 2027. If Garmin judges the acquisition individually immaterial it can aggregate it with others and never state the figure.

Question 1

How much did Garmin pay for TrainingPeaks?

Accepted Answer

Garmin did not disclose the price. Valuing the coach subscriptions, direct athlete subscriptions, plan marketplace and WKO licences separately, on revenue of roughly 36.5 million dollars, gives about 115 million. An earnings-based cross-check gives about 73 million. The likely price sits between 75 and 130 million dollars, with a central estimate near 100 million.

Question 2

Why did Garmin not disclose the price?

Accepted Answer

Garmin does not disclose acquisition terms as a matter of practice, so the silence is not a signal about the size of the deal. A deal of this size is also far below the threshold that would require separate audited financials for the acquired business.

Question 3

How much revenue does TrainingPeaks make?

Accepted Answer

TrainingPeaks has never published a revenue figure and third-party estimates range from 7.7 million dollars to 100 million, which is wide enough to be useless. Building the number from published prices and plausible subscriber counts gives roughly 36.5 million dollars a year across TrainingPeaks and TrainHeroic combined.

Question 4

Does the price include TrainHeroic and TrainingPeaks Virtual?

Accepted Answer

Yes. Garmin acquired both TrainingPeaks and TrainHeroic, and TrainingPeaks Virtual came with TrainingPeaks after the indieVelo purchase in October 2024. Peaksware Holdings kept its music education businesses.

Question 5

What multiple do software companies sell for in 2026?

Accepted Answer

Aventis Advisors put the median private software EV/Revenue multiple at 3.1x in March 2026, down from 3.8x a year earlier. Low-growth businesses without an AI product sit below that median, and profitable ones are often valued on earnings instead, at 8x to 12x EBITDA.

Question 6

When will the actual price be published?

Accepted Answer

The cash component should appear in Garmin&#8217;s Q3 10-Q around late October 2026. The full consideration and the purchase price allocation appear in the business combinations note of the 10-K, filed around late February 2027. If Garmin judges the acquisition individually immaterial it can aggregate it with others and never state the figure.

Tag: TrainHeroic

How Much Did Garmin Pay for TrainingPeaks?

Garmin Acquires TrainingPeaks: Why? Some Answers.