Executive Summary
QQ1 2025 delivered a difficult top-line environment for Under Armour, with revenue of $1.1836 billion, down 20.3% year over year and 11.1% quarter over quarter. Gross margin remained solid at 47.5%, producing a gross profit of $562.7 million, but operating profit and net income were negative at -$299.7 million and -$305.4 million respectively, with EPS of -$0.70. Management commentary is not available in the provided transcript dataset, limiting insights into the call beyond the reported numbers. The company generated positive operating cash flow of approximately $153.0 million and free cash flow of about $107.3 million, supporting a cash balance near $903.2 million and a net cash position (net debt of -$289.2 million). The balance sheet reflects a healthy liquidity profile (current ratio ~1.73; quick ratio ~1.08; cash ratio ~0.52) alongside a meaningful inventory level (~$1.12 billion). Despite revenue and earnings pressure, Under Armour retains a durable asset base and positive FCF, which provides flexibility to execute its brand-building and efficiency initiatives. Looking forward, no explicit forward guidance is provided in the dataset; investors should monitor any management commentary on topline stabilization, margin contraction/expansion dynamics, and progress in cost control and working capital optimization.
Key Performance Indicators
QoQ: -11.14% | YoY:-20.35%
QoQ: -6.12% | YoY:-16.17%
QoQ: -4 541.19% | YoY:-531.14%
QoQ: -115 591.67% | YoY:-367.58%
QoQ: -116 566.67% | YoY:-369.23%
Key Insights
Revenue: $1,183,665,000; YoY revenue change: -20.35%; QoQ revenue change: -11.14%; Gross Profit: $562,675,000; Gross Margin: 47.54%; EBITDA: -$241,812,000; Operating Income: -$299,728,000; Net Income: -$305,426,000; Net Income Margin: -25.80%; EPS: -$0.70; D&A: $32,830,000; Operating Cash Flow: $152,975,000; Capex: -$45,681,000; Free Cash Flow: $107,294,000; Cash and Cash Equivalents: $884,552,000; Cash at End of Period: $903,161,000; Total Assets: $4,860,511,000; Total Liabilities: $3,043,9...
Financial Highlights
Revenue: $1,183,665,000; YoY revenue change: -20.35%; QoQ revenue change: -11.14%; Gross Profit: $562,675,000; Gross Margin: 47.54%; EBITDA: -$241,812,000; Operating Income: -$299,728,000; Net Income: -$305,426,000; Net Income Margin: -25.80%; EPS: -$0.70; D&A: $32,830,000; Operating Cash Flow: $152,975,000; Capex: -$45,681,000; Free Cash Flow: $107,294,000; Cash and Cash Equivalents: $884,552,000; Cash at End of Period: $903,161,000; Total Assets: $4,860,511,000; Total Liabilities: $3,043,939,000; Total Stockholders’ Equity: $1,816,572,000; Net Debt: -$289,168,000; Current Ratio: 1.727; Quick Ratio: 1.076; Cash Ratio: 0.515; Asset Turnover: 0.244; Gross Margin: 0.475; Operating Margin: -0.253; Net Margin: -0.258; ROE: -0.168; ROA: -0.0628; P/S: 2.40; P/B: 1.56; P/FCF: 26.44; P/OCF: 18.54; P/E: -2.32; Enterprise Value Multiple: -10.53; Free Cash Flow per Share: $0.246; Operating Cash Flow per Share: $0.351; Cash per Share: $2.03; Inventory Turnover: 0.555; Receivables Turnover: 1.729; Payables Turnover: 0.890; CCC: 214.32 days
Income Statement
| Metric |
Value |
YoY Change |
QoQ Change |
| Revenue |
1.18B |
-20.35% |
-11.14% |
| Gross Profit |
562.68M |
-16.17% |
-6.12% |
| Operating Income |
-299.73M |
-531.14% |
-4 541.19% |
| Net Income |
-305.43M |
-367.58% |
-115 591.67% |
| EPS |
-0.70 |
-369.23% |
-116 566.67% |
Key Financial Ratios
operatingProfitMargin
-25.3%
operatingCashFlowPerShare
$0.35
freeCashFlowPerShare
$0.25
Management Commentary
No earnings call highlights were provided in the supplied data. Transcript content is unavailable for quotation or thematic grouping.
Forward Guidance
There is no explicit forward guidance in the provided dataset. Given QQ1 2025 results, an investor-focused interpretation would emphasize monitoring the following potential catalysts: (1) stabilization or growth in direct-to-consumer and e-commerce channels to counter wholesale weakness; (2) targeted gross margin improvement through product mix optimization, pricing discipline, and supply chain efficiency; (3) sustained cost controls to reduce SG&A leverage and improve operating margins; (4) working capital optimization to reduce cash conversion cycle and inventory risk. Investors should look for management commentary in subsequent releases on revenue recovery timelines, geographies driving growth (e.g., Europe, Asia), and any planned capital allocation changes that could support profitability while preserving the strong balance sheet.