Company: UAA
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001336917-25-000198
Chunk: 56

Company: Under Armour, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 56
---
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 a decrease in both wholesale and direct-to-consumer.

Net sales decreased by $111.3 million, or 4.4%, to $2.4 billion during the six months ended September 30, 2025, from $2.5 billion during the six months ended September 30, 2024. Apparel decreased primarily due to lower average selling prices and unfavorable channel mix, partially offset by higher units sold. Footwear decreased primarily due to lower unit sales, lower average selling prices and unfavorable channel mix. Accessories increased primarily due to higher unit sales, partially offset by unfavorable channel mix. From a channel perspective, the decrease in net sales was due to a decrease in both wholesale and direct-to-consumer.

License Revenues

License revenues increased by $4.2 million or 16.9%, to $29.0 million during three months ended September 30, 2025, from $24.8 million during three months ended September 30, 2024. This was primarily due to higher revenues from our international licensing partners.

License revenues increased by $6.9 million or 14.8%, to $53.3 million during six months ended September 30, 2025, from $46.5 million during six months ended September 30, 2024. This was