Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 117

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 117
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 control"; and "—Financial Risks—Our financial results could be adversely impacted by currency exchange rate fluctuations" included in Item 1A of our Annual Report on Form 10-K for Fiscal 2025.

RESULTS OF OPERATIONS

The following tables set forth key components of our results of operations for the periods indicated, both in dollars and as a percentage of net revenues:

Three Months Ended June 30,20252024Net revenues$1,134,068 100.0 %$1,183,665 100.0 %Cost of goods sold587,572 51.8 %620,990 52.5 %Gross profit546,496 48.2 %562,675 47.5 %Selling, general and administrative expenses530,345 46.8 %837,317 70.7 %Restructuring charges12,828 1.1 %25,086 2.1 %Income (loss) from operations3,323 0.3 %(299,728)(25.3)%Interest income (expense), net(4,051)(0.4)%2,344 0.2 %Other income (expense), net(4,695)(0.4)%(2,730)(0.2)%Income (loss) before income taxes(5,423)(0.5)%(300,114)(25.4)%Income tax expense (benefit)(2,658)(0.2)%5,149 0.4 %Income (loss) from equity method investments153 — %(163)— %Net income (loss)$(2,612)(0.2)%$(305,426)(25.8)%

Revenues

Net revenues consist of net sales and license revenues. Net sales consist of sales from apparel, footwear and accessories products. Our license revenues primarily consist of fees paid to us by licensees in exchange for the use of our trademarks on their products. The following tables summarize net revenues by product category and distribution channel for the periods indicated:

Three Months Ended June 30,20252024Change ($)Change (%)Net Revenues by Product Category:Apparel$746,592 $757,792 $(11,200)(1.5)%Footwear265,855 310,389 (44,534)(14.3)%Accessories100,078 92,545 7,533 8.1 %Net Sales