Under Armour reported results for QQ2 2025 showing a modest top-line contraction year-over-year amid a competitive consumer environment, but with profitability metrics demonstrating resilience. Revenue of $1.399 billion declined 10.7% YoY, while gross margin held near 50% at 49.8%, supported by favorable product mix and pricing discipline. Operating income rose to $173.1 million, driving a solid operating margin of approximately 12.37%, and net income swung higher to $170.4 million with diluted EPS of $0.39, up about 62.7% YoY. Notwithstanding strong profitability, the company burned cash in the quarter, with operating cash flow of -$321.4 million and free cash flow of -$367.2 million, driven largely by a substantial negative swing in working capital movements (-$505.3 million). At quarter-end, UA held $530.7 million in cash, with total debt of $1.332 billion and net debt of $801.1 million, yielding a liquidity profile that is solid but requires ongoing working-capital discipline to move FCF positive in a challenging macro backdrop. The figures suggest a turnaround in profitability, offset by cash-burn dynamics and leverage risk that investors should monitor amid a competitive footwear and apparel arena.