Company: UAA
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001336917-25-000016
Chunk: 6

Company: Under Armour, Inc.
Filing Date: 2025-02-06
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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47,927 (8,713)35,763 Income (loss) before income taxes7,555 119,125 (124,646)266,858 Income tax expense (benefit)6,295 8,569 9,308 41,333 Income (loss) from equity method investments(26)197 144 (51)Net income (loss)$1,234 $110,753 $(133,810)$225,474 

Three Months Ended December 31,Nine Months Ended December 31,(As a percentage of net revenues)2024202320242023Net revenues100.0 %100.0 %100.0 %100.0 %Cost of goods sold52.5 %54.9 %51.7 %53.5 %Gross profit47.5 %45.1 %48.3 %46.5 %Selling, general and administrative expenses45.5 %40.3 %50.1 %41.1 %Restructuring charges1.0 %— %1.1 %— %Income (loss) from operations1.0 %4.8 %(2.8)%5.3 %Interest income (expense), net(0.2)%— %(0.1)%(0.1)%Other income (expense), net(0.2)%3.2 %(0.2)%0.8 %Income (loss) before income taxes0.5 %8.0 %(3.1)%6.1 %Income tax expense (benefit)0.4 %0.6 %0.2 %0.9 %Income (loss) from equity method investments— %— %— %— %Net income (loss)0.1 %7.5 %(3.4)%5.2 %

34

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 December 31,Nine Months Ended December 31,(In thousands)20242023Change ($)Change (%)20242023Change