Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 127

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 127
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1)(8,790)(2,102)(6,688)(318.2)%(11,609)(834)(10,775)(1292.0)%    Total net revenues$1,333,380 $1,399,023 $(65,643)(4.7)%$2,467,448 $2,582,688 $(115,240)(4.5)%

Net Revenues by Distribution Channel:Wholesale$775,050 $825,993 $(50,943)(6.2)%$1,424,100 $1,506,506 $(82,406)(5.5)%Direct-to-consumer538,136 550,336 (12,200)(2.2)%1,001,611 1,030,549 (28,938)(2.8)%Net Sales1,313,186 1,376,329 (63,143)(4.6)%2,425,711 2,537,055 (111,344)(4.4)%License revenues28,984 24,796 4,188 16.9 %53,346 46,467 6,879 14.8 %Corporate Other (1)(8,790)(2,102)(6,688)(318.2)%(11,609)(834)(10,775)(1292.0)%    Total net revenues$1,333,380 $1,399,023 $(65,643)(4.7)%$2,467,448 $2,582,688 $(115,240)(4.5)%

(1) Corporate Other primarily includes foreign currency hedge gains and losses related to revenues generated by entities within our operating segments but managed through our central foreign exchange risk management program.

35

Net Sales

Net sales decreased by $63.1 million, or 4.6%, to $1.3 billion during the three months ended September 30, 2025, from $1.4 billion during the three months ended September 30, 2024. Apparel decreased primarily due to unfavorable channel mix and lower average selling prices. Footwear decreased primarily due to lower unit sales and lower average selling prices, partially offset by a favorable channel mix. Accessories decreased primarily due to unfavorable channel mix, partially offset by higher unit sales and higher average selling prices. From a channel perspective, the decrease in net sales was due to