QQ4 2024 (calendar quarter ending March 31, 2024) for Under Armour delivered a revenue decline alongside margin pressures and a near break-even operating result. Revenue of $1.332 billion declined 14.98% year over year, while gross profit reached $599.3 million for a gross margin of approximately 45.0%. The company posted a minimal operating loss of $6.46 million and a net loss of $0.264 million, with Adjusted EBITDA not disclosed in the data but reported EBITDA of $29.45 million on a reported basis. Year-over-year profitability deteriorated meaningfully: operating income fell about 104.6% and net income declined roughly 100.25% versus the prior-year period, with EPS flat to negative on a per-share basis (-$0.0006). The quarter also highlighted cash-flow headwinds: operating cash flow was negative $139.15 million and free cash flow negative $156.69 million, driven by working capital dynamics (a negative $198.40 million change in working capital) and a sizable cash outflow from investing activities. The cash balance ended at $876.92 million, down from $1.058 billion at the start of the period, underscoring a tighter liquidity backdrop despite a solid base of cash and equivalents. Net debt stood at approximately $584.1 million, with a debt-to-equity ratio of about 0.67 and a debt ratio of 0.30, indicating a modestleverage profile but limited cushion for earnings volatility. The results underscore ongoing top-line challenges and an elevated operating-cost base relative to sales, even as the company pursues cost-control measures and a strategic shift toward direct-to-consumer (DTC) and digital platforms. Investors should monitor evidence of demand stabilization, gross-margin optimization, and sustained improvements in working capital efficiency as catalysts for a more constructive earnings trajectory.