Running apparel brand On lifts guidance again as Q3 profits surge, shares jump

12th Nov 2025 13:50

(Sharecast News) - US-listed shares of On Holding rocketed on Wednesday after the buzzy Swiss running apparel brand reported record quarterly results and hiked its sales guidance for the third time this year.

Net sales jumped 24.9% to CHF794m over the three months to 30 September, rising at 34.5% on a constant-currency basis, with strong growth across both its DTC and wholesale channels. Notably, apparel sales were up 86.9% year-on-year (rising 100.2% at constant currency).

The Zurich-based firm said the performance was driven by "exceptional global momentum and consistent execution of its strategic priorities", with the Asia-Pacific region in particular seeing its fourth straight quarter of triple-digit, constant-currency growth at 109.2%.

On said its popularity was bolstered by ongoing "performance credibility and cultural relevance", hailing partnerships with marathon runner Hellen Obiri - the On ambassador who broke the New York Marathon record earlier this month - as well as collaborations with celebrities like Zendaya and Burna Boy.

Net income was 289.9% higher at CHF119m, helped by a big increase in the net income margin to 15.0% from 4.8%. On an adjusted basis, EBITDA surged 49.8% to CHF180m.

"This quarter was another one for the record books - a true showcase of our premium strategy in action," said co-founder and executive co-chair Caspar Coppetti.

As a result, the firm raised its full-year guidance across all key metrics, with the target for net sales in particular rising to CHF2.98bn from CHF2.91bn.

On Holding stock futures up 19.5% at $42.05 in pre-market deals in New York.