Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 64

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 64
---
sumer channels. Within our direct-to-consumer channel, net revenues increased in owned and operated retail stores, partially offset by a decrease in e-commerce. Net revenues in our EMEA region were also positively impacted by changes in foreign exchange rates.

Asia-Pacific

Net revenues in our Asia-Pacific region decreased by $28.5 million, or 13.7% during the three months ended September 30, 2025. This was driven by a decrease in both our wholesale and direct-to-consumer channels, partially offset by an increase in license revenues. Within our direct-to-consumer channel, net revenues decreased in both owned and operated retail stores and in e-commerce.

Net revenues in our Asia-Pacific region decreased by $46.9 million, or 12.1% during the six months ended September 30, 2025. This was driven by a decrease in both our wholesale and direct-to-consumer channels, partially offset by an increase in license revenues. Within our direct-to-consumer channel, net revenues decreased in both e-commerce and in owned and operated retail stores. 

Latin America

Net revenues in our Latin America region increased by $6.9 million, or 14.6% during the three months ended September 30, 2025. This was driven by an increase in both our wholesale and direct-to-consumer channels, partially offset by a decrease in license revenues. Within our direct-to-consumer channel, net revenues increased in owned and operated retail stores and was flat in e-commerce. 

Net revenues in our Latin America region decreased by $3.0 million, or 2.7% during the six months ended September 30, 2025. This was driven by a decrease in both our wholesale and direct-to-consumer channels, and a decrease in license revenues. Within our direct-to-consumer channel, net revenues decreased in e-commerce, partially offset by an increase in owned and operated retail stores. 

Corporate Other

Net revenues in Corporate Other decreased by $6.7 million during the three months ended September 30, 2025. This was primarily driven by foreign currency hedge losses related to revenues generated by entities within our operating segments.

Net revenues in Corporate Other decreased by $10.8 million during the six months ended September 30, 2025. This was primarily driven by foreign currency hedge losses related to revenues generated by entities within our operating segments.

40

Operating Income (Loss)

Three Months Ended September 30,Six Months Ended September 30,20252024Change ($)Change