Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 127

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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 presented:Three Months Ended June 30,20252024Change ($)Net cash provided by (used in):Operating activities$48,852 $152,975 $(104,123)Investing activities(35,362)4,319 (39,681)Financing activities387,303 (128,220)515,523 Effect of exchange rate changes on cash and cash equivalents9,314 (2,830)12,144 Net increase (decrease) in cash and cash equivalents$410,107 $26,244 $383,863 

Operating Activities

Cash flows provided by operating activities decreased by $104.1 million, as compared to the three months ended June 30, 2024, primarily driven by a decrease from changes in working capital of $366.4 million, offset by an increase in net income before the impact of non-cash items of $262.2 million. 

The changes in working capital were due to the following outflows:

•$371.6 million from changes in accrued expenses and other liabilities;

•$33.9 million from changes in inventories;

•$20.1 million from changes in accounts receivable; and

•$4.0 million from changes in other non-current assets.

These outflows were partially offset by the following working capital inflows:

•$22.8 million from changes in prepaid expenses and other current assets;

•$23.3 million from changes in income taxes payable and receivable, net;

•$13.4 million from changes in accounts payable; and

•$3.8 million from changes in customer refund liabilities.

Investing Activities

Cash flows used in investing activities increased by $39.7 million, as compared to the three months ended June 30, 2024. During the three months ended June 30, 2024, we collected a $50 million earn-out in connection with the sale of the MyFitnessPal platform. Additionally, total capital expenditures during the three months ended June 30, 2025 were $35.4 million, or approximately 3% of net revenues, representing a $10.3 million decrease from $45.7 million during the three months ended June 30, 2024. Our long-term operating principle for capital expenditures is to spend between 2% and 4% of annual net revenues as we invest in our global direct-to-consumer, e-commerce and digital businesses, information technology systems, distribution centers