$ONON

🔹 EPS: CHF 0.27 (Est. CHF 0.18) 🟢; UP +50% YoY

🔹 Revenue: CHF 606.6M (Est. CHF 594.5M) 🟢; UP +35.7% YoY

Q4 Key Metrics:

🔹 Gross Profit: CHF 376.8M (Est. CHF 367M) 🟢; UP +39.5% YoY

🔹 Gross Margin: 62.1% (Est. 61.7%) 🟢; UP +171 bps YoY

🔹 EBITDA: CHF 99.4M (Est. CHF 97M) 🟢; UP +38.3% YoY

🔹 EBITDA Margin: 16.4% (Est. 16.3%) 🟢; UP +28 bps YoY

🔹 Net Income: CHF 89.5M (Prior CHF -26.8M) 🟢

🔹 Inventory: CHF 419M (Est. CHF 417M) 🟡; UP +17.6% YoY

Segment Performance:

🔹 Wholesale: CHF 310M (Est. CHF 303M) 🟢; UP +28.8% YoY

🔹 Direct-to-Consumer (DTC): CHF 296M (Est. CHF 291M) 🟢; UP +43.1% YoY

Regional Breakdown:

🔹 EMEA: CHF 147M (Est. CHF 137M) 🟢; UP +31.6% YoY

🔹 Americas: CHF 365M (Est. CHF 396M) 🔴; UP +27.9% YoY

🔹 APAC: CHF 74M (Est. CHF 61M) 🟢; UP +117.9% YoY

FY25 Guidance:

🔹 Revenue Growth: 27%+ (Est. 28.2%) 🔴

🔹 Gross Margin: 60.5% (Est. 60.9%) 🔴; DOWN -13 bps YoY

🔹 EBITDA Margin: 17.3% (Est. 17.3%) 🔴; UP +55 bps YoY

🔹 FY25 Revenue Outlook: CHF 2.94B (Est. CHF 2.96B) 🟡

Strategic & Business Updates:

🔹 DTC Growth: Record 48.8% of Q4 Revenue

🔹 Global Expansion: Nearly 50 Own Stores Opened

🔹 Milestone: CHF 100M+ in Apparel Sales

🔹 New Tech: Launched LightSpray™ Innovation

🔹 Brand Momentum: Strengthened via Roger Federer, Zendaya, & FKA twigs Partnerships

CEO David Allemann’s Commentary:

🔸 "2024 was a defining year, elevating On’s presence globally. Our partnerships and continued innovation have made On a beloved brand. Looking ahead, we are confident in sustaining long-term brand love and growth.”

Huge fan of $ONON On running shoes. We think the brand is strong and lends to the stock having great long-term potential.

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On Holding $ONON

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$ONON | On Holding AG Q3 '24 Earnings Highlights:

🔹 Revenue: CHF 635.8M (Est. CHF 618.7M) 🟢; UP +32.3% YoY

🔹 Core EPS: CHF 0.09 (Est. CHF 0.15) 🔴

🔹 Adjusted EBITDA: CHF 120.1M; UP +47.7% YoY

🔹 Gross Profit Margin: 60.6% (Prior Year: 59.9%)

FY24 Guidance: 

🔹 Revenue: CHF 2.29B (Est. CHF 2.31B) 🟡

🔹 Gross Profit Margin: Expected ~60.5%

🔹 Adj EBITDA Margin: Projected at upper end of 16.0%-16.5%

Segment:

🔸Direct-to-Consumer (DTC): Revenue UP +49.8% YoY; DTC channel now 38.8% of total sales, UP +450 basis points

🔸Wholesale: Revenue UP +23.2% YoY

Regional Breakdown:

🔹 EMEA: CHF 165.8M; UP +15.1% YoY

🔹 Americas: CHF 395.5M; UP +34.1% YoY

🔹 APAC: CHF 74.6M; UP +79.3% YoY

Product Category Breakdown:

🔸Shoes: CHF 603.7M; UP +32.1% YoY

🔸Apparel: CHF 26.8M; UP +33.4% YoY

🔸Accessories: CHF 5.3M; UP +53.9% YoY

CEO Commentary: 

🔸 "Our record-breaking results this quarter underscore the power of On's premium positioning and strong global demand. The remarkable growth in our DTC channel and rising brand awareness fuel our confidence as we approach the holiday season."

Additional Business Highlights: 

🔸 Achieved highest gross profit margin since IPO

🔸 Significant brand momentum driven by high-profile partnerships and successful product launches

🔸 Continued expansion in APAC and strategic store openings worldwide