Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 11

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 11
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 the three months ended June 30, 2025, compared to the three months ended June 30, 2024, was driven by the following:

•Net revenues in our North America region decreased by $38.9 million, or 5.5%. 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 owned and operated retail stores.

•Net revenues in our EMEA region increased by $21.7 million, or 9.6%. This was driven by an increase in both our wholesale and direct-to-consumer 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.

•Net revenues in our Asia-Pacific region decreased by $18.5 million, or 10.1%. 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 e-commerce partially offset by an increase in owned and operated retail stores. 

•Net revenues in our Latin America region decreased by $9.8 million, or 15.3%. This was primarily driven by negative impacts of changes in foreign exchange rates. By channel, the decrease was in both our wholesale channel and our direct-to-consumer channel. Within our direct-to-consumer channel, net revenues decreased in both owned and operated retail stores and e-commerce. 

•Net revenues in our Corporate Other non-operating segment decreased by $4.1 million. This was primarily driven by foreign currency hedge losses related to revenues generated by entities within our operating segments.

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Operating Income (Loss)

Three Months Ended June 30,20252024Change ($)Change (%)North America$121,437 $147,889 $(26,452)(17.9)%EMEA39,643 20,456 19,187 93.8 %Asia-Pacific14,703 9,935 4,768 48.0 %Latin America6,606 15,171 (8,565)(56.5)%Corporate Other (1)(179,066)(493,179)314,113 63.7 %Total operating income (loss)$3,323 $(299,