Shares of Under Armour got a lift in early Friday trading, after the athletic gear maker turned a surprise quarterly profit and raised its full-year earnings guidance to more than double what it was j... ...

Core Viewpoint - Under Armour anticipates revenue to decline at the lower end of its fiscal 2026 forecast due to ongoing weak demand in key markets and tariff pressures [1] Group 1: Revenue Expectations - The company expects revenue to fall at the milder end of its fiscal 2026 forecast [1] - Weak demand is particularly noted in the North American and Asia-Pacific markets [1] Group 2: Market Conditions - The company continues to face challenges from weak demand in its primary markets [1] - Tariff pressures are expected to persist into the new year, impacting overall performance [1]

Exhibit 99.1 UNDER ARMOUR REPORTS THIRD QUARTER FISCAL 2026 RESULTS; UPDATES FISCAL 2026 OUTLOOK BALTIMORE, Feb. 6, 2026 – Under Armour, Inc. (NYSE: UAA, UA) released its unaudited financial results for the third quarter of fiscal 2026, which ended on December 31, 2025. The company reports its financial performance in accordance with United States Generally Accepted Accounting Principles ("GAAP"). This press release includes references to "currency neutral" and "adjusted" amounts, which are non-GAAP financi ...

Financial Performance - For fiscal 2026, Under Armour expects adjusted earnings per share to range from $0.10 to $0.11, an increase from the prior outlook of $0.03 to $0.05 [1] - The company anticipates a loss per share between $1.24 and $1.25 [1] - Adjusted operating income is projected to be approximately $110 million, compared to the previous outlook of $95 million to $110 million [1] - Revenue is expected to decline by approximately 4 percent, an improvement from the prior outlook of a 4 to 5 percent decline [1] Quarterly Results - In the third quarter, Under Armour reported a net loss of $430.8 million, a significant decrease from a net income of $1.2 million in the previous year [2] - The net loss per share for class A, B, and C common stock was $1.01, compared to breakeven in the prior year [2] - Adjusted operating income for the quarter was $26 million, while adjusted net income per share was $0.09, slightly up from $0.08 [2] - Revenue decreased by 5 percent to $1.33 billion, or down 6 percent on a currency-neutral basis [2] Management Commentary - Under Armour's CEO Kevin Plank stated that the third quarter adjusted operating results exceeded expectations and expressed optimism about the progress in reigniting brand momentum despite some non-recurring impacts [3] Market Reaction - In pre-market trading on NYSE, Under Armour shares increased by 3.26 percent to $6.50 [4]

Core Insights - Under Armour experienced a smaller-than-expected decline in third-quarter revenue, indicating effective turnaround efforts by the company [1] Company Summary - The sportswear maker's initiatives to simplify its product assortment have contributed to stabilizing demand during the crucial holiday season [1]

Core Viewpoint - Under Armour is expected to report a quarterly loss for Q3, contrasting with a profit from the previous year, indicating potential challenges in financial performance [1]. Financial Performance - Analysts predict Under Armour will report a loss of 1 cent per share for the third quarter, compared to a profit of 8 cents per share in the same quarter last year [1]. - The consensus estimate for quarterly revenue is $1.31 billion, down from $1.4 billion reported last year [1]. Recent Developments - On November 6, Under Armour reported fiscal Q2 2026 results that exceeded Wall Street expectations but subsequently lowered its full-year outlook [2]. - Following the Q2 report, Under Armour's shares fell by 5%, closing at $6.28 [2].

Core Insights - The leadership positions in major sports brands are becoming increasingly unstable, with significant CEO changes occurring across the industry, including Decathlon, Puma, and Lululemon [1][2] - The turnover at the executive level reflects a broader strategic shift within these companies, particularly in the Chinese market, as brands face the need to adapt to changing consumer demands and market conditions [1][3] Group 1: Executive Changes - Lululemon's CEO Calvin McDonald has stepped down after seven years, marking a significant leadership change [3] - Nike's Greater China CEO Dong Wei has left, with Cathy Sparks taking over [3] - Alo Yoga has appointed Benedetta Petruzzo, a former executive from Dior and Miu Miu, as its new International Business CEO [3] - Under Armour has seen changes in its China General Manager and Greater China President roles, with Carol Chen now in charge [3] - Puma's CEO Arne Freundt has left after two and a half years, with Arthur Hoeld, a former Adidas executive, taking over [3] - Decathlon's CEO Barbara Martin has resigned, and Javier López will succeed her [3] - Fila's Greater China President Yao Weixiong has stepped down after 15 years, with Jiang Yan promoted internally as the new leader [3] Group 2: Industry Signals - The high turnover of executives signals three key themes in the industry: crisis management, strategic pivots, and talent shortages [2][4] - Many brands are facing challenges from emerging competitors, prompting them to reassess their strategies and leadership [4][5] - The need for brands to adapt quickly to market changes is evident, as seen with Alo Yoga's shift towards high-end lifestyle products [7][13] Group 3: Market Dynamics - The sports brand market is experiencing a transformation, with established companies needing to respond to the rise of niche brands that are reshaping consumer preferences [4][10] - Brands like Nike and Under Armour are undergoing significant strategic shifts, with new leadership aimed at correcting previous missteps in market strategy [10][11] - The trend of frequent executive changes reflects a broader industry shift towards agility and responsiveness in a rapidly evolving market landscape [16][18]

Core Viewpoint - An investigation is underway regarding Under Armour's Board of Directors for potential breaches of fiduciary duties related to cybersecurity events affecting the Company's data systems [1]. Company Overview - Under Armour, Inc. is a global sportswear and performance gear company based in Baltimore, MD, specializing in the design, development, marketing, and distribution of athletic apparel, footwear, and accessories worldwide [2]. Legal Firm Background - Berger Montague PC is a prominent law firm in the U.S. focusing on complex civil litigation, class actions, and mass torts, with over $2.4 billion in post-trial judgments in 2025 and more than $50 billion recovered for clients over 55 years [3].

Core Insights - A 10% owner of Under Armour purchased 2,641,105 shares for approximately $16.4 million, indicating potential confidence in the stock despite its recent performance [1][2]. Transaction Summary - The transaction involved 2,641,105 shares traded at a total value of $16.4 million, with a weighted average purchase price of $6.23 per share [2]. - Post-transaction, the insider holds a total of 65,000,000 shares indirectly, with this purchase accounting for 4.2% of their total indirect holdings [2][7]. Company Overview - Under Armour reported a trailing twelve months (TTM) revenue of $5.05 billion and a net income of -$87.65 million, indicating ongoing financial struggles [3]. - The company has 14,163 employees and has experienced a 1-year price change of -18.98% as of January 31, 2026 [3]. Company Snapshot - Under Armour is a global manufacturer of athletic apparel, footwear, and accessories, utilizing a multi-channel distribution strategy to reach consumers [4]. Current Challenges - The company has faced poor stock performance for four consecutive years, with negative net income reported in FY 2025 and continuing into FY 2026 [5]. - A legal setback occurred in January 2026 when an appeals court ruled against Under Armour regarding a $100 million Director & Officers insurance claim [6]. - The departure of the Chief Product Officer on February 2, 2026, adds to the company's executive turnover issues [6]. - A significant loss was noted when Under Armour failed to re-sign NBA star Steph Curry to a new brand deal in November 2025, highlighting ongoing challenges [8].

Core Insights - Beneficial owners are actively purchasing shares of Under Armour Inc., indicating strong confidence in the company's future performance [1] Group 1: Company Performance - Under Armour's stock has seen significant interest from beneficial owners, suggesting a positive outlook on the company's growth potential [1] - The increase in share purchases by beneficial owners may reflect their belief in the effectiveness of Under Armour's strategic initiatives [1] Group 2: Market Trends - The trend of beneficial owners acquiring shares aligns with broader market movements, where investor sentiment is increasingly favorable towards athletic apparel companies [1] - This activity may signal a shift in market dynamics, with Under Armour positioned to capitalize on emerging opportunities within the industry [1]