NYSE: UA
Under Armour, Inc.CIK 0001336917 · SIC 2300 · Apparel & Finished Products
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revenue $1.10B, net income $545,000. Under Armour Q1 FY27: tariff refund lifts gross margin 590bp; operating income +1307%
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revenue $4.97B, net income -$495.6M. Under Armour revenue falls 3.8%, gross margin drops 240bp on tariffs, restructuring doubles
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Under Armour expands restructuring plan by up to $50M to $305M, reports Q4 and FY2026 results
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Latest financial statements
From 10-Q filed Aug 7, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Operations (Unaudited)
(Unaudited; In thousands, except per share amounts)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|
| Net revenues (Note 10) | 1,097,927 | 1,134,068 |
| Cost of goods sold | 504,095 | 587,572 |
| Gross profit | 593,832 | 546,496 |
| Selling, general and administrative expenses | 543,085 | 530,345 |
| Restructuring charges (Note 11) | 4,008 | 12,828 |
| Income (loss) from operations | 46,739 | 3,323 |
| Interest income (expense), net | (10,645) | (4,051) |
| Other income (expense), net | (7,013) | (4,695) |
| Income (loss) before income taxes | 29,081 | (5,423) |
| Income tax expense (benefit) (Note 15) | 28,314 | (2,658) |
| Income (loss) from equity method investments | (222) | 153 |
| Net income (loss) | 545 | (2,612) |
| Basic net income (loss) per share of Class A, B and C common stock (Note 16) | 0.00 | (0.01) |
| Diluted net income (loss) per share of Class A, B and C common stock (Note 16) | 0.00 | (0.01) |
| Weighted average common shares outstanding Class A, B and C common stock | ||
| Basic | 427,769 | 427,116 |
| Diluted | 431,937 | 427,116 |
Condensed Consolidated Balance Sheets (Unaudited)
(Unaudited; In thousands, except share data)
| Description | June 30, 2026 | March 31, 2026 |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | 395,981 | 309,168 |
| Accounts receivable, net of allowance for doubtful accounts of $5,870 and $5,018 as of June 30, 2026 and March 31, 2026, respectively | 646,122 | 681,861 |
| Inventories | 1,109,250 | 914,751 |
| Restricted investments (Note 7) | — | 605,396 |
| Prepaid expenses and other current assets, net | 217,818 | 207,507 |
| Total current assets | 2,369,171 | 2,718,683 |
| Property and equipment, net (Note 3) | 584,982 | 598,953 |
| Operating lease right-of-use assets (Note 4) | 478,579 | 429,622 |
| Goodwill (Note 5) | 493,331 | 492,768 |
| Intangible assets, net | 4,559 | 4,471 |
| Deferred income taxes (Note 15) | 55,233 | 52,282 |
| Other long-term assets | 112,232 | 118,915 |
| Total assets | 4,098,087 | 4,415,694 |
| Liabilities and Stockholders' Equity | ||
| Current liabilities | ||
| Current maturities of long-term debt (Note 7) | — | 599,835 |
| Accounts payable | 668,976 | 420,077 |
| Accrued expenses | 310,146 | 331,391 |
| Customer refund liabilities (Note 10) | 109,582 | 126,097 |
| Operating lease liabilities (Note 4) | 152,643 | 153,050 |
| Other current liabilities | 67,232 | 46,336 |
| Total current liabilities | 1,308,579 | 1,676,786 |
| Long-term debt, net of current maturities (Note 7) | 591,158 | 590,609 |
| Operating lease liabilities, non-current (Note 4) | 632,276 | 596,139 |
| Other long-term liabilities | 137,958 | 137,800 |
| Total liabilities | 2,669,971 | 3,001,334 |
| Commitments and Contingencies (Note 8) | ||
| Stockholders' equity (Note 9) | ||
| Class A Common Stock, $0.0003 1/3 par value; 400,000,000 shares authorized as of June 30, 2026 and March 31, 2026; 188,839,506 shares issued and outstanding as of June 30, 2026 (March 31, 2026: 188,839,506) | 63 | 63 |
| Class B Convertible Common Stock, $0.0003 1/3 par value; 34,450,000 shares authorized, issued and outstanding as of June 30, 2026 and March 31, 2026 | 11 | 11 |
| Class C Common Stock, $0.0003 1/3 par value; 400,000,000 shares authorized as of June 30, 2026 and March 31, 2026; 206,176,638 shares issued and outstanding as of June 30, 2026 (March 31, 2026: 202,927,051) | 68 | 67 |
| Additional paid-in capital | 1,290,157 | 1,278,429 |
| Retained earnings | 210,414 | 217,352 |
| Accumulated other comprehensive income (loss) | (72,597) | (81,562) |
| Total stockholders' equity | 1,428,116 | 1,414,360 |
| Total liabilities and stockholders' equity | 4,098,087 | 4,415,694 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
(Unaudited; In thousands)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 |
|---|---|---|
| Cash flows from operating activities | ||
| Net income (loss) | 545 | (2,612) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | ||
| Depreciation and amortization | 25,418 | 28,981 |
| Unrealized foreign currency exchange rate (gain) loss | 2,022 | (2,273) |
| Loss on disposal of property and equipment | 81 | 3,556 |
| Non-cash restructuring and impairment charges (recoveries) | (1,731) | 7,698 |
| Amortization of bond premium and debt issuance costs | 714 | 603 |
| Stock-based compensation | 11,310 | 12,219 |
| Deferred income taxes | (3,268) | (28,978) |
| Changes in reserves and allowances | 2,576 | 3,952 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 36,455 | 50,885 |
| Inventories | (193,531) | (196,568) |
| Prepaid expenses and other current assets | (14,524) | (11,990) |
| Other long-term assets | (44,812) | 9,818 |
| Accounts payable | 243,397 | 213,712 |
| Accrued expenses and other liabilities | 36,545 | (51,373) |
| Customer refund liabilities | (16,249) | (5,180) |
| Income taxes payable and receivable | 24,189 | 16,402 |
| Net cash provided by (used in) operating activities | 109,137 | 48,852 |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (14,600) | (35,362) |
| Proceeds from restricted investment to settle satisfied and discharged debt | 600,000 | — |
| Net cash provided by (used in) investing activities | 585,400 | (35,362) |
| Cash flows from financing activities | ||
| Proceeds from long-term debt and revolving credit facility | 25,000 | 400,000 |
| Repayment of long-term debt and revolving credit facility | (25,000) | — |
| Settlement of satisfied and discharged debt | (600,000) | — |
| Employee taxes paid for shares withheld for income taxes | (7,483) | (7,485) |
| Proceeds from exercise of stock options and other stock issuances | 419 | 552 |
| Payments of debt financing costs | — | (5,764) |
| Net cash provided by (used in) financing activities | (607,064) | 387,303 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | (634) | 9,314 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 86,839 | 410,107 |
| Cash, cash equivalents and restricted cash | ||
| Beginning of period | 312,061 | 515,051 |
| End of period | 398,900 | 925,158 |
| Non-cash investing and financing activities | ||
| Accrual for property and equipment | 1,744 | 1,971 |
Amounts as printed on the EDGAR/iXBRL face — (Unaudited; In thousands, except per share amounts); (Unaudited; In thousands, except share data); (Unaudited; In thousands). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗