Regional Revenue Performance - Net revenues in North America decreased by $315.4 million (8.3%) to $3,505.2 million, driven by declines in both wholesale and direct-to-consumer channels[219] - Net revenues in EMEA increased by $89.3 million (9.0%) to $1,081.9 million, primarily due to growth in direct-to-consumer and wholesale channels, with positive foreign exchange impacts[219] - Net revenues in Asia-Pacific increased by $47.7 million (5.8%) to $873.0 million, driven by growth in both direct-to-consumer and wholesale channels[219] Operating Income and Expenses - Operating income in EMEA increased by $64.0 million (57.1%) to $176.2 million, while North America saw a decrease of $36.8 million (5.1%) to $677.9 million[221] - Total operating income decreased by $33.8 million (12.8%) to $229.8 million, primarily due to declines in North America and increased corporate expenses[221] Cash Flow and Liquidity - Cash flows from operating activities increased by $393.9 million, driven by a $29.9 million increase in net income and a $364.0 million increase from changes in working capital[238] - Net cash provided by operating activities for the year ended March 31, 2024 was $353.97 million, compared to a net cash used of $39.89 million in the previous year[308] - Total cash, cash equivalents, and restricted cash at the end of March 31, 2024 was $876.92 million, an increase from $726.75 million at the end of the previous year[310] Debt and Obligations - Long-term debt obligations totaled $730.3 million, with $101.0 million due within one year and $629.3 million due in 1-3 years[233] - Operating lease obligations totaled $1,005.6 million, with $178.7 million due within one year and $286.6 million due in 1-3 years[233] - Product purchase obligations totaled $1,144.1 million, all due within one year[233] - The company may enter into long-term debt arrangements with various lenders to maintain liquidity and fund business operations, which may include interest rate swap contracts to reduce the impact of interest rate fluctuations[273] Financial Position and Assets - Total assets as of March 31, 2024, were $4.76 billion, compared to $4.82 billion in the previous year[298] - Cash and cash equivalents increased significantly to $858.69 million from $71 million year-over-year[298] - Accounts receivable, net, stood at $757.34 million, up from $75 million in the previous year[298] - Inventories increased to $958.50 million from $1.18 million year-over-year[298] - Total current liabilities were $1.17 billion, compared to $1.35 billion in the previous year[298] - Long-term debt, net of current maturities, was $594.87 million, down from $67 million year-over-year[298] - Retained earnings increased to $1.05 billion from $89 million in the previous year[298] - Accumulated other comprehensive income (loss) was $(77.12) million, compared to $(6) million year-over-year[298] - Stockholders' equity increased to $2.15 billion from $1.96 billion in the previous year[298] Taxes and Interest Payments - The company accrued $0.7 million in excise tax related to share repurchases under the Inflation Reduction Act[231] - Cash paid for income taxes, net of refunds, for the year ended March 31, 2024 was $83.13 million, compared to $28.54 million in the previous year[310] - Cash paid for interest, net of capitalized interest, for the year ended March 31, 2024 was $4.43 million, compared to $19.22 million in the previous year[310] Internal Controls and Financial Reporting - The company identified material weaknesses in internal control over financial reporting as of March 31, 2024[283] Net Income and Profitability - Net income for the year ended March 31, 2024 was $232.04 million, a decrease from $374.46 million in the previous year[308] Revisions and Adjustments - Total current assets as of March 31, 2023 were revised to $2.95 billion, a decrease of $11.10 million from the previously reported amount[324] - Total liabilities as of March 31, 2023 were revised to $2.86 billion, an increase of $2.73 million from the previously reported amount[324] - Total stockholders' equity as of March 31, 2023 was revised to $1.97 billion, a decrease of $32.26 million from the previously reported amount[324] Inflationary Pressures - Inflationary pressures may continue to adversely affect the company's operating results, including product input costs, freight costs, and consumer discretionary spending[278]

Conference Call Participants Our remarks today will include certain forward-looking statements that reflect Under Armour management's current view of our business as of May 16, 2024. These statements may include projections for our business in the present and future quarters and fiscal years. Forward-looking statements are not guarantees of future business performance and our actual results may differ materially from those expressed or implied in the views provided. Statements made are subject to risks and ...

Revenue Performance - Revenue for Q4 fiscal 2024 decreased by 5% to $1.3 billion, with North America revenue down 10% to $772 million and international revenue up 7% to $561 million[2] - Full-year fiscal 2024 revenue decreased by 3% to $5.7 billion, with North America revenue down 8% to $3.5 billion and international revenue up 8% to $2.2 billion[5] - Net revenues for Q1 2024 decreased by 4.7% to $1,332.2 million compared to $1,398.6 million in Q1 2023[19][21] - North America segment revenues declined by 10.4% to $771.9 million in Q1 2024[21] - EMEA segment revenues increased by 9.5% to $284.1 million in Q1 2024[21] - Wholesale channel revenues decreased by 6.5% to $849.8 million in Q1 2024[23] - Direct-to-consumer channel revenues remained flat at $454.7 million in Q1 2024[23] - Apparel revenues decreased by 1.3% to $877.3 million in Q1 2024[25] - Footwear revenues declined by 10.6% to $337.7 million in Q1 2024[25] - Net revenues for Fiscal 2024 were $5,701,879, a decrease of 3.4% compared to Fiscal 2023's $5,903,165[51] - Currency-neutral net revenue growth for the year ended March 31, 2024, was -3.6%, with North America showing a decline of -8.0% and Asia-Pacific growing by 9.3%[34] Gross Margin and Profitability - Gross margin for Q4 fiscal 2024 increased by 170 basis points to 45.0%, driven by lower product and freight costs[2] - Gross margin for full-year fiscal 2024 increased by 130 basis points to 46.1%, driven by lower freight and product costs[5] - Gross profit margin improved to 45.0% in Q1 2024 from 43.3% in Q1 2023[19] - Gross profit for Fiscal 2024 was $2,630,253, representing 46.1% of net revenues, compared to 44.8% in Fiscal 2023[51] - Cost of goods sold for Fiscal 2024 was $3,071,626, representing 53.9% of net revenues, compared to 55.2% in Fiscal 2023[51] - Fiscal 2025 gross margin is expected to increase by 75-100 basis points, driven by reduced promotional activities and product costing benefits[10] Inventory and Cash Flow - Inventory decreased by 19% to $958 million at the end of Q4 fiscal 2024[2] - Cash and cash equivalents increased to $858.7 million as of March 31, 2024, up from $710.9 million in 2023[29] - Net cash provided by operating activities for 2024 was $353,970 thousand, compared to a net cash used of $39,886 thousand in 2023[31] Operating Income and Expenses - Fiscal 2025 operating income is expected to be $50-70 million, with adjusted operating income expected to be $130-150 million[10] - Income from operations for Fiscal 2024 was $229,751, a decrease of 12.8% compared to Fiscal 2023's $263,586[51] - Selling, general and administrative expenses for Fiscal 2024 were $2,400,502, representing 42.1% of net revenues, compared to 40.3% in Fiscal 2023[51] - Adjusted operating income for the year ended March 31, 2024, was $309,751 thousand, up from $229,751 thousand under GAAP[39] - The company expects GAAP income from operations for the year ending March 31, 2025, to be between $50 million and $70 million, with adjusted income from operations projected at $130 million to $150 million[47] Net Income and Earnings Per Share - Net income for the year ended March 31, 2024, was $232,042 thousand, a decrease from $374,459 thousand in 2023[31] - Adjusted net income for the year ended March 31, 2024, was $244,829 thousand, compared to GAAP net income of $232,042 thousand[41] - Adjusted diluted net income per share for 2024 was $0.54, up from $0.52 under GAAP[43] - Adjusted diluted net income per share for 2025 is estimated to be between $0.18 and $0.21, compared to GAAP estimates of $0.02 to $0.05[48] Share Repurchase and Capital Expenditures - Under Armour announced a new $500 million share repurchase program[7] - Fiscal 2025 capital expenditures are expected to be between $200-220 million[10] Store and Door Counts - Total company-owned and operated doors increased to 440 in 2024 from 439 in 2023, with North America doors increasing to 200 from 194[53] - International total doors decreased to 240 in 2024 from 245 in 2023, primarily due to a reduction in Brand House doors from 80 to 67[53] - Factory House doors increased globally from 341 in 2023 to 356 in 2024, while Brand House doors decreased from 98 to 84[53] Financial Revisions and Adjustments - The company revised its prior period financial statements for accounting corrections related to cost of goods sold and selling, general and administrative expenses, with no material impact on previously filed financial statements[50] Future Revenue Expectations - Fiscal 2025 revenue is expected to decline by a low-double-digit percentage, with North America revenue expected to decline by 15-17%[10]

Under Armour, Inc. (NYSE:UAA) Q3 2024 Earnings Conference Call February 8, 2024 8:30 AM ET Company Participants Lance Allega - Senior Vice President of Investor Relations & Corporate Development Stephanie Linnartz - President, CEO & Director Dave Bergman - CFO & Principal Accounting Officer Conference Call Participants Simeon Siegel - BMO Capital Markets Jay Sole - UBS Laurent Vasilescu - BNP Paribas Exane Bob Drbul - Guggenheim Sam Poser - William Trading Jim Duffy - the Stifel Paul Lejuez - Citigroup Alex ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ Form 10-Q ______________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-33202 __________________________ ...

To wrap it up, thanks to the outstanding efforts of our team, we are progressing on our PTH 3 priorities and at the same time taking a balanced approach to mitigate near-term pressures. We are relentlessly focused on driving brand heat and delivering elevated design and products, while driving operational efficiencies and controlling costs. We are confident this will foster sustainable, profitable growth over the long-term. Operator Great, thank you so much. Two part question. Stephanie, for you, just as yo ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ Form 10-Q ______________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File No. 001-33202 ______________________________________ UNDER ARMOUR, INC. (Exact name of registrant as specified in its charter) ______________________________________ Maryland 52-1990078 (State or other jurisdiction of ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ Form 10-Q ______________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-33202 ______________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ Form 10-K ______________________________________ (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-33202 _____________________________________ ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________ Form 10-Q ______________________________________ (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended December 31, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-33202 __________________________ ...