Business Wire·Nov 10, 2026, 5:00 AM ET

On Reports Results for the Third Quarter and Nine-Month Period Ended September 30, 2026

ONON

On Holding AG reported record third-quarter net sales of CHF 931.4 million, a 17.2% year-over-year increase, surpassing the CHF 900 million quarterly threshold for the first time.
Gross profit margin reached a historical high of 72.6%, or 66.9% excluding CHF 52.6 million in U.S. tariff refunds, with adjusted EBITDA margin rising to 27.6%.
Direct-to-consumer (DTC) sales grew 25.0% to CHF 393.3 million, increasing the DTC share of net sales to 42.2%, while wholesale sales rose 12.2%.
All geographic regions achieved record quarterly sales, with EMEA surpassing CHF 250 million for the first time and Asia-Pacific growing 31.1%.
Apparel sales surged 38.7% year-over-year, driven by the Zendaya collection, which became the brand's most visible apparel launch.
The company launched the Cloudsurfer 3 running shoe, initiating its biggest innovation cycle to date, while the Cloudtilt sneaker remains a top-performing lifestyle franchise.
Net income for the quarter increased 36.9% to CHF 162.8 million, with diluted earnings per share rising to CHF 0.48.
On confirmed full-year 2026 net sales growth in the low-20% range on a constant currency basis, with adjusted EBITDA margin expected between 21.0% and 21.5%.
The brand expanded into new sports categories, highlighted by a major football announcement and podium finishes at the New York Marathon.
Cash and cash equivalents increased 31.3% to CHF 1,339.0 million as of September 30, 2026, reflecting strong liquidity.
On maintained full pricing discipline during a promotional market environment, attributing margin growth to its premium strategy, innovation, and operational efficiencies.