Under Armour Files 10-Q for Q3 FY25

TL;DR

UA's Q3 FY25 10-Q is in. Check financials.

AI Summary

Under Armour, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the third quarter of fiscal year 2025, detailing financial performance and operational updates. Specific financial figures and operational details for this period are available within the full report.

Why It Matters

This filing provides investors and analysts with the latest financial performance data for Under Armour, crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard disclosures, but the specific financial results and any accompanying management discussion can reveal underlying risks or positive developments.

Key Numbers

• 2024-12-31 — Period End Date (Indicates the end of the reporting quarter)
• 2025-02-06 — Filing Date (Date the report was submitted to the SEC)

Key Players & Entities

• Under Armour, Inc. (company) — Filer of the 10-Q
• 2024-12-31 (date) — End of the reporting period
• 20250206 (date) — Filing date

FAQ

Filing Documents

• ua-20241231.htm (10-Q) — 1843KB
• ua-12312024xex3101.htm (EX-31.01) — 8KB
• ua-12312024xex3102.htm (EX-31.02) — 8KB
• ua-12312024xex3201.htm (EX-32.01) — 4KB
• ua-12312024xex3202.htm (EX-32.02) — 4KB
• ua-20241231_g1.jpg (GRAPHIC) — 25KB
• 0001336917-25-000016.txt ( ) — 10078KB
• ua-20241231.xsd (EX-101.SCH) — 63KB
• ua-20241231_cal.xml (EX-101.CAL) — 76KB
• ua-20241231_def.xml (EX-101.DEF) — 357KB
• ua-20241231_lab.xml (EX-101.LAB) — 757KB
• ua-20241231_pre.xml (EX-101.PRE) — 580KB
• ua-20241231_htm.xml (XML) — 1667KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of December 3 1 , 2024 and March 31, 2024 (unaudited) 1 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended D ecember 3 1 , 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three and Nine Months Ended December 31 , 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity for the Three and Nine Months Ended December 31 , 2024 and 2023 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended December 3 1 , 2024 and 2023 (unaudited) 5 Notes to the Condensed Consolidated Financial Statements (unaudited) 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operation s

Management's Discussion and Analysis of Financial Condition and Results of Operation s 30 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 46 Item 4.

Controls and Procedures

Controls and Procedures 46 P ART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 47 Item 1A.

Risk Factors

Risk Factors 47 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 47 Item 5. Other Information 47 Item 6. Exhibits 48

SIGNATURES

SIGNATURES 49 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS Under Armour, Inc. and Subsidiaries Condensed Consolidated Balance Sheets (Unaudited; In thousands, except share data) December 31, 2024 March 31, 2024 Assets Current assets Cash and cash equivalents $ 726,877 $ 858,691 Accounts receivable, net (Note 3) 615,467 757,339 Inventories 1,100,530 958,495 Prepaid expenses and other current assets, net 248,119 289,157 Total current assets 2,690,993 2,863,682 Property and equipment, net (Note 4) 650,644 664,503 Operating lease right-of-use assets (Note 5) 391,767 434,699 Goodwill (Note 6) 484,546 478,302 Intangible assets, net (Note 7) 5,532 7,000 Deferred income taxes (Note 18) 244,081 221,033 Other long-term assets 163,402 91,515 Total assets $ 4,630,965 $ 4,760,734 Liabilities and Stockholders' Equity Current liabilities Current maturities of long-term debt (Note 9) $ — $ 80,919 Accounts payable 657,152 483,731 Accrued expenses 322,555 287,853 Customer refund liabilities (Note 12) 170,344 139,283 Operating lease liabilities (Note 5) 127,930 139,331 Other current liabilities 63,035 34,344 Total current liabilities 1,341,016 1,165,461 Long-term debt, net of current maturities (Note 9) 595,188 594,873 Operating lease liabilities, non-current (Note 5) 582,020 627,665 Other long-term liabilities 128,018 219,449 Total liabilities 2,646,242 2,607,448 Stockholders' equity (Note 11) Class A Common Stock, $ 0.0003 1/3 par value; 400,000,000 shares authorized as of December 31, 2024 and March 31, 2024; 188,822,726 shares issued and outstanding as of December 31, 2024 (March 31, 2024: 188,802,043 ) 63 63 Class B Convertible Common Stock, $ 0.0003 1/3 par value; 34,450,000 shares authorized, issued and outstanding as of December 31, 2024 and March 31, 2024 11 11 Class C Common Stock, $ 0.0003 1/3 par value; 400,000,000 shares authorized as of December 31, 2024 and March 31, 2024; 206,495,528 shares issued and outstanding as of December 31, 2024 (March 31,

Business

Business Under Armour, Inc. (together with its wholly owned subsidiaries, the "Company") is a developer, marketer and distributor of branded athletic performance apparel, footwear and accessories. The Company creates products engineered to make athletes better with a vision to inspire performance solutions you never knew you needed and can't imagine living without. The Company's products are made, sold and worn worldwide. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements are presented in U.S. Dollars and include the accounts of Under Armour, Inc. and its wholly owned subsidiaries. Certain information in footnote disclosures normally included in annual financial statements were condensed or omitted for the interim periods presented in accordance with the rules and regulations of the Securities and Exchange Commission (the "SEC") and accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim consolidated financial statements. In the opinion of management, all adjustments consisting of normal, recurring adjustments considered necessary for a fair statement of the financial position and results of operations were included. Intercompany balances and transactions were eliminated upon consolidation. The unaudited Condensed Consolidated Balance Sheets as of December 31, 2024 is derived from the audited financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2024 ("Fiscal 2024"), filed with the SEC on May 29, 2024 ("Annual Report on Form 10-K for Fiscal 2024"), which should be read in conjunction with these unaudited Condensed Consolidated Financial Statements. The unaudited results for the three and nine months ended December 31, 2024 are not necessarily indicative of the results to be expected for the fiscal year ending March 31, 2025 ("Fiscal 2025"), or any other portions thereof. Reclassifications Certain prior period comparative

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