On Holding Ag Class A ( (ONON) ) has released its Q3 earnings. Here is a breakdown of the information On Holding Ag Class A presented to its investors.
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On Holding AG, a Swiss company known for its innovative premium sportswear, has reported record-breaking financial results for the third quarter of 2025, driven by strong global demand and strategic execution. The company’s net sales surged by 24.9% year-over-year, reaching CHF 794.4 million, with significant growth in both direct-to-consumer and wholesale channels. The apparel segment saw a remarkable increase of 86.9% in net sales, and the Asia-Pacific region delivered triple-digit growth, highlighting On’s expanding global footprint.
Key financial metrics for the quarter include a gross profit margin of 65.7%, boosted by operational efficiencies and favorable foreign exchange rates. The adjusted EBITDA margin rose to 22.6%, with an absolute adjusted EBITDA of CHF 179.9 million, marking a 49.8% increase from the previous year. Net income also saw a substantial rise, reaching CHF 118.9 million, a 289.8% increase from the prior year, reflecting the company’s robust performance and strategic focus.
On’s strategic initiatives continue to pay off, with the company celebrating significant achievements in sports and cultural collaborations. The brand’s athlete-first innovation strategy has been underscored by recent victories in major athletic events, while partnerships with high-profile figures like Zendaya and Burna Boy have strengthened its appeal among younger consumers. These efforts have not only enhanced On’s brand credibility but also expanded its influence at the intersection of sport, fashion, and design.
Looking ahead, On has raised its full-year 2025 guidance, expecting a 34% year-over-year growth in net sales on a constant currency basis. The company anticipates a gross profit margin of around 62.5% and an adjusted EBITDA margin above 18.0%, supported by sustainable structural efficiencies and a strong premium positioning. On’s management remains confident in its strategic direction and is poised for continued growth, driven by a robust product pipeline and a focus on operational excellence.