Under Armour Navigates Equity Shifts in Q1 2026

TL;DR

**Under Armour's Q1 2026 equity movements show ongoing financial adjustments, but without revenue specifics, it's a neutral hold for now.**

AI Summary

Under Armour, Inc. reported its Q1 2026 results for the period ending June 30, 2025. While specific revenue and net income figures are not provided in the excerpt, the filing details changes in equity. The company's common stock structure includes Class A, Class C, and Convertible Common Stock. As of June 30, 2025, the number of Class A shares outstanding was not explicitly stated but was tracked alongside Class C and Convertible shares. The filing indicates movements in Additional Paid-In Capital and Retained Earnings during the quarter, suggesting ongoing operational activities and financial adjustments. Accumulated Other Comprehensive Income also saw changes, reflecting non-owner changes in equity. The company continues to manage its capital structure, with a focus on its various classes of common stock. Risks related to market conditions and consumer demand, though not detailed here, are inherent to the apparel industry and would impact future financial performance. The strategic outlook remains focused on navigating these equity changes and broader market dynamics.

Why It Matters

This filing provides a snapshot of Under Armour's capital structure, which is crucial for investors to understand how the company is financing its operations and potential future growth. Changes in Additional Paid-In Capital and Retained Earnings can signal profitability trends or capital-raising activities, directly impacting shareholder value. For employees, a stable capital structure supports job security and potential for growth. In a competitive market against giants like Nike and Adidas, efficient capital management is vital for Under Armour to invest in innovation and marketing, ultimately affecting customers through product availability and pricing. The broader market watches these equity movements as an indicator of the company's financial health and its ability to compete.

Risk Assessment

Risk Level: medium — The risk level is medium because the provided excerpt lacks crucial financial performance indicators like revenue, net income, and cash flow, making a comprehensive assessment impossible. While equity changes are detailed, the absence of top-line and bottom-line figures means investors cannot fully gauge the company's operational health or its ability to generate profits, which are key risk factors. For example, without revenue, it's unclear if the company is growing or shrinking.

Analyst Insight

Investors should await the full financial statements to assess Under Armour's Q1 2026 performance, specifically focusing on revenue growth, net income, and cash flow from operations. This excerpt alone is insufficient for making informed investment decisions; further due diligence on the complete 10-Q is essential before buying or selling UA shares.

Key Numbers

• 2025-06-30 — Reporting Period End Date (The quarter ended on this date, providing the latest financial snapshot.)
• 2025-03-31 — Previous Fiscal Year End (This date serves as a comparative point for equity changes within the quarter.)
• Class A, Class C, Convertible — Types of Common Stock (Under Armour's capital structure includes these distinct share classes, impacting voting rights and ownership.)
• Additional Paid-In Capital — Equity Component (Changes in this account reflect capital contributions above par value, indicating investor activity.)
• Retained Earnings — Equity Component (Fluctuations here show the accumulation of profits or losses over time, net of dividends.)
• Accumulated Other Comprehensive Income — Equity Component (This account captures non-owner changes in equity, such as unrealized gains/losses on certain investments.)

Key Players & Entities

• Under Armour, Inc. (company) — filer of the 10-Q
• June 30, 2025 (date) — end of the reporting period
• March 31, 2025 (date) — previous fiscal year end
• Class A Common Stock (other) — type of equity
• Class C Common Stock (other) — type of equity
• Convertible Common Stock (other) — type of equity
• Additional Paid-In Capital (dollar_amount) — equity component
• Retained Earnings (dollar_amount) — equity component
• Accumulated Other Comprehensive Income (dollar_amount) — equity component
• 0001336917 (other) — Central Index Key (CIK) for Under Armour

FAQ

Industry Context

Under Armour operates in the highly competitive athletic apparel and footwear market, facing established global players and emerging brands. Key industry trends include a growing demand for sustainable products, direct-to-consumer (DTC) sales channels, and innovation in performance-enhancing materials. The market is sensitive to consumer discretionary spending and fashion trends.

Regulatory Implications

As a publicly traded company, Under Armour must adhere to SEC regulations regarding financial reporting and disclosures. Compliance with accounting standards (GAAP) is critical. Potential regulatory risks could arise from changes in international trade policies, environmental regulations impacting manufacturing, or consumer protection laws.

What Investors Should Do

1. Monitor changes in the outstanding shares of Class A, Class C, and Convertible Common Stock.
2. Analyze the movements in Additional Paid-In Capital, Retained Earnings, and Accumulated Other Comprehensive Income.
3. Look for disclosures on revenue by segment and geographic region in future filings.

Key Dates

• 2025-06-30: Quarterly Reporting Period End — Marks the end of the first quarter of fiscal year 2026, providing the latest financial data.
• 2025-03-31: Previous Fiscal Year End / Prior Quarter End — Serves as a comparative baseline for equity and other financial statement components.
• 2024-06-30: Prior Year Quarter End — Provides a year-over-year comparison point for key financial metrics and equity changes.
• 2025-08-08: Filing Date — Indicates when the 10-Q report was officially submitted to the SEC.

Glossary

us-gaap:CommonClassAMember

Represents shares of Class A common stock, which typically carry voting rights. (Part of Under Armour's capital structure, with specific share counts tracked.)

us-gaap:CommonClassCMember

Represents shares of Class C common stock, which may have different voting rights or characteristics than Class A. (A component of the company's outstanding stock, with movements noted in the filing.)

us-gaap:ConvertibleCommonStockMember

Represents shares of common stock that can be converted into another class of stock or security. (Another class of stock whose outstanding amounts are reported, impacting potential dilution.)

us-gaap:AdditionalPaidInCapitalMember

The amount paid by investors for stock above its par value. (Changes in this account reflect capital raised from stock issuances or repurchases.)

us-gaap:RetainedEarningsMember

The cumulative net income of the company that has not been distributed to shareholders as dividends. (Fluctuations indicate profitability or losses over time and the company's reinvestment strategy.)

us-gaap:AccumulatedOtherComprehensiveIncomeMember

A component of equity representing unrealized gains and losses on certain investments and other items not included in net income. (Reflects non-owner changes in equity, such as foreign currency translation adjustments or pension adjustments.)

Year-Over-Year Comparison

The provided excerpt focuses on equity changes and does not contain specific revenue or net income figures for the current or prior year periods. Therefore, a direct comparison of revenue growth, margin changes, or other key financial metrics against the prior year's filing is not possible based on this information. New risks are not detailed in this excerpt.

Filing Documents

• ua-20250630.htm (10-Q) — 1225KB
• ua-06302025xex102.htm (EX-10.2) — 57KB
• ua-06302025xex3101.htm (EX-31.01) — 8KB
• ua-06302025xex3102.htm (EX-31.02) — 8KB
• ua-06302025xex3201.htm (EX-32.01) — 4KB
• ua-06302025xex3202.htm (EX-32.02) — 4KB
• ua-20250630_g1.jpg (GRAPHIC) — 25KB
• 0001336917-25-000136.txt ( ) — 7713KB
• ua-20250630.xsd (EX-101.SCH) — 55KB
• ua-20250630_cal.xml (EX-101.CAL) — 71KB
• ua-20250630_def.xml (EX-101.DEF) — 302KB
• ua-20250630_lab.xml (EX-101.LAB) — 691KB
• ua-20250630_pre.xml (EX-101.PRE) — 509KB
• ua-20250630_htm.xml (XML) — 1052KB

- F INANCIAL INFORMATION

PART I - F INANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 1 Condensed Consolidated Balance Sheets as of June 3 0 , 202 5 and March 31, 20 25 (unaudited) 1 Condensed Consolidated Statements of Operations for the Three Months Ended June 3 0 , 202 5 and 202 4 (unaudited) 2 Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended June 3 0 , 202 5 and 202 4 (unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity for the Three Months Ended June 3 0 , 202 5 and 20 24 (unaudited) 4 Condensed Consolidated Statements of Cash Flows for the Three Months Ended June 3 0 , 202 5 and 202 4 (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 26 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 38 Item 4.

Controls and Procedures

Controls and Procedures 38 P ART II - O THER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 40 Item 1A.

Risk Factors

Risk Factors 40 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 40 Item 5. Other Information 40 Item 6. Exhibits 41

SIGNATURES

SIGNATURES 42 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS UNDER ARMOUR, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited; In thousands, except share data) June 30, 2025 March 31, 2025 Assets Current assets Cash and cash equivalents $ 910,985 $ 501,361 Accounts receivable, net of allowance for doubtful accounts of $ 17,717 and $ 17,020 as of June 30, 2025 and March 31, 2025, respectively. 623,736 675,822 Inventories 1,141,829 945,836 Prepaid expenses and other current assets, net 226,308 206,078 Total current assets 2,902,858 2,329,097 Property and equipment, net (Note 3) 613,174 645,147 Operating lease right-of-use assets (Note 4) 364,960 384,341 Goodwill (Note 5) 496,195 487,632 Intangible assets, net 5,081 5,224 Deferred income taxes (Note 15) 314,742 286,160 Other long-term assets 168,181 163,270 Total assets $ 4,865,191 $ 4,300,871 Liabilities and Stockholders' Equity Current liabilities Current maturities of long-term debt (Note 7) $ 599,757 $ — Accounts payable 635,163 429,944 Accrued expenses 332,692 348,747 Customer refund liabilities (Note 10) 140,511 146,021 Operating lease liabilities (Note 4) 128,639 130,050 Other current liabilities 58,613 54,381 Total current liabilities 1,895,375 1,109,143 Long-term debt, net of current maturities (Note 7) 389,457 595,125 Operating lease liabilities, non-current (Note 4) 557,871 574,277 Other long-term liabilities 148,059 132,048 Total liabilities 2,990,762 2,410,593 Stockholders' equity (Note 9) Class A Common Stock, $ 0.0003 1/3 par value; 400,000,000 shares authorized as of June 30, 2025 and March 31, 2025; 188,822,726 shares issued and outstanding as of June 30, 2025 (March 31, 2025: 188,822,726 ) 63 63 Class B Convertible Common Stock, $ 0.0003 1/3 par value; 34,450,000 shares authorized, issued and outstanding as of June 30, 2025 and March 31, 2025 11 11 Class C Common Stock, $ 0.0003 1/3 par value; 400,000,000 shares authorized as of June 30, 2025 and March 31, 2025; 205,416,539 share

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 athletes with innovative performance and design solutions they can't live without. The Company's products are made, sold and worn worldwide. Basis of Presentation The accompanying unaudited Condensed Consolidated Financial Statements, which are presented in U.S. Dollars, include the accounts of Under Armour, Inc. and its wholly owned subsidiaries and were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"). 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 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 June 30, 2025 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, 2025 ("Fiscal 2025"), filed with the SEC on May 22, 2025 ("Annual Report on Form 10-K for Fiscal 2025"), which should be read in conjunction with these unaudited Condensed Consolidated Financial Statements. The unaudited results for the three months ended June 30, 2025 are not necessarily indicative of the results to be expected for the fiscal year ending March 31, 2026 ("Fiscal 2026"), or any other portions thereof. Reclassifications

View Full Filing

View this 10-Q filing on SEC EDGAR