Company: UAA
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001336917-25-000136
Chunk: 118

Company: Under Armour, Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 118
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1,112,525 1,160,726 (48,201)(4.2)%License revenues24,362 21,671 2,691 12.4 %Corporate Other (1)(2,819)1,268 (4,087)(322.3)%    Total net revenues$1,134,068 $1,183,665 $(49,597)(4.2)%

Net Revenues by Distribution Channel:Wholesale$649,050 $680,513 $(31,463)(4.6)%Direct-to-consumer463,475 480,213 (16,738)(3.5)%Net Sales1,112,525 1,160,726 (48,201)(4.2)%License revenues24,362 21,671 2,691 12.4 %Corporate Other (1)(2,819)1,268 (4,087)(322.3)%    Total net revenues$1,134,068 $1,183,665 $(49,597)(4.2)%

(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.

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Net Sales

Net sales decreased by $48.2 million, or 4.2%, to $1.1 billion during the three months ended June 30, 2025, from $1.2 billion during the three months ended June 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 $2.7 million or 12.4%, to $24.4 million during three months ended June 30, 2025, from $21.7 million during three months ended June 30, 2024. This was primarily due to higher revenues from our licensing partners in North America and from our international licensing partners.

Gross Profit

Cost of goods sold consists primarily of product costs, inbound freight and duty costs, outbound freight costs, handling costs to make products floor