On Holding reports Q3 beat, raises margin outlook and reiterates growth guide
On Holding reported FY2026 third-quarter net sales of CHF 931.4M, up 17.2% year over year, while adjusted EPS rose 25.6% to CHF 0.54. Q3 gross margin was 72.6% including CHF 52.6M of U.S. tariff refunds, or 66.9% excluding the refunds. The company reiterated FY2026 net sales growth in the low-20% range on a constant-currency basis, raised its gross margin outlook excluding refunds to around 66% from at least 65%, and gave adjusted EBITDA margin guidance of 19.5% to 20% excluding refunds and 21% to 21.5% including them.
Why it matters
The tariff refund makes the reported Q3 and forecast margins higher than the comparable figures excluding that item, so investors must separate the two bases when assessing profitability. On Holding expects fourth-quarter growth to accelerate, predominantly through direct-to-consumer sales, according to the company.
Key facts
- 1On Holding's Q3 net sales increased 17.2% year over year to CHF 931.4 million. quantisnow.com
- 2Direct-to-consumer net sales growth was 25.0%, and the channel represented 42.2% of net sales. quantisnow.com
- 3Q3 gross profit margin was 72.6% including CHF 52.6 million of U.S. tariff refunds, compared with 66.9% excluding the refunds. quantisnow.com
- 4The company reiterated FY2026 net sales growth in the low-20% range on a constant-currency basis. finance.yahoo.com
- 5FY2026 adjusted EBITDA margin guidance is 19.5% to 20% excluding tariff refunds and 21% to 21.5% including them. finance.yahoo.com
Open questions
- reports sales growth of 17.8%, while reports Q3 net sales growth of 17.2%; the materials do not explain the difference in basis.
Summary written by AlphAI AI Desk from 14 of 14 sources. Not investment advice. Figures are as stated by the linked sources.