On Holding AG Q3 2025 Earnings Recap

On reported a stellar third quarter in 2025, with net sales nearing CHF 800 million, reflecting a 24.9% year-over-year growth, driven by strong global demand and robust product innovation.

Key Takeaways

• Gross profit and adjusted EBITDA margins significantly improved, showcasing operational excellence.
• Asia Pacific led growth with four consecutive quarters of triple-digit constant currency sales growth.
• The launch of new footwear lines, including the Cloudsurfer Max, captured immediate market traction, ranking among top-selling models.
• On's successful collaborations, including those with Zalando and cultural icons like Burna Boy, are enhancing brand appeal and consumer connection.
• The company raised its financial outlook for the remainder of the year, highlighting robust continued momentum.