Revenue: As of FY2026, the actual value is USD 4.966 B, beating the estimate of USD 4.961 B.EPS: As of FY2026, the actual value is USD -1.16.EBIT: As of FY2026, the actual value is USD -132.82 M.<h4>Net Revenues by Product Category</h4><ul><li>Apparel: Net revenues decreased by 1.6% to $3,395,053 thousand in Fiscal 2026 from $3,451,414 thousand in Fiscal 2025, primarily due to lower average selling prices and unfavorable channel mix .</li><li>Footwear: Net revenues decreased by 10.8% to $1,076,383 thousand in Fiscal 2026 from $1,206,202 thousand in Fiscal 2025, mainly due to lower unit sales and average selling prices .</li><li>Accessories: Net revenues increased by 0.9% to $414,466 thousand in Fiscal 2026 from $410,860 thousand in Fiscal 2025, driven by higher unit sales, foreign exchange rates, and higher average selling prices .</li><li>License revenues: Increased by 13.5% to $107,353 thousand in Fiscal 2026 from $94,590 thousand in Fiscal 2025, primarily due to higher revenues from international licensing partners .</li><li>Corporate Other (revenue): Decreased by 2261.2% to - $26,885 thousand in Fiscal 2026 from $1,244 thousand in Fiscal 2025, mainly due to foreign currency hedge losses .</li></ul><h4>Net Revenues by Distribution Channel</h4><ul><li>Wholesale: Decreased by 4.9% to $2,831,787 thousand in Fiscal 2026 from $2,978,869 thousand in Fiscal 2025 .</li><li>Direct-to-consumer: Decreased by 1.7% to $2,054,115 thousand in Fiscal 2026 from $2,089,607 thousand in Fiscal 2025 .</li></ul><h4>Net Revenues by Geographic Segment</h4><ul><li>North America: Net revenues decreased by 7.9% to $2,859,420 thousand in Fiscal 2026 from $3,105,624 thousand in Fiscal 2025, with sales in the United States at $2.6 billion for Fiscal 2026 .</li><li>EMEA: Net revenues increased by 8.6% to $1,180,510 thousand in Fiscal 2026 from $1,086,578 thousand in Fiscal 2025, positively impacted by foreign exchange rates .</li><li>Asia-Pacific: Net revenues decreased by 4.8% to $719,134 thousand in Fiscal 2026 from $755,437 thousand in Fiscal 2025 .</li><li>Latin America: Net revenues increased by 8.7% to $234,191 thousand in Fiscal 2026 from $215,427 thousand in Fiscal 2025 .</li></ul><h4>Operational Metrics</h4><ul><li>Total Net Revenues: Decreased by 3.8% to $4,966,370 thousand in Fiscal 2026 from $5,164,310 thousand in Fiscal 2025 .</li><li>Cost of Goods Sold: Increased to $2,707,512 thousand in Fiscal 2026 from $2,689,566 thousand in Fiscal 2025 .</li><li>Gross Profit: Decreased by $215,886 thousand to $2,258,858 thousand in Fiscal 2026 from $2,474,744 thousand in Fiscal 2025 .</li><li>Gross Margin: Decreased by 240 basis points to 45.5% in Fiscal 2026 from 47.9% in Fiscal 2025, primarily due to unfavorable impacts from supply chain, pricing, and channel/regional mix .</li><li>Selling, General and Administrative Expenses (SG&amp;A): Decreased by 11.8% to $2,294,251 thousand in Fiscal 2026 from $2,601,991 thousand in Fiscal 2025, representing 46.2% of net revenues in Fiscal 2026 .<ul><li>Marketing and Advertising Costs: Decreased by 8.6% to $502,300 thousand in Fiscal 2026 from $549,900 thousand in Fiscal 2025, accounting for 10.1% of net revenues .</li><li>Other Costs: Decreased by 12.7%, primarily due to lower litigation reserve expense, and accounted for 36.1% of net revenues in Fiscal 2026 .</li></ul></li><li>Restructuring Charges: Increased by $69,750 thousand to $127,719 thousand in Fiscal 2026 from $57,969 thousand in Fiscal 2025, mainly due to higher other restructuring costs and facility-related costs .</li><li>Income (Loss) from Operations: Improved to - $163,112 thousand in Fiscal 2026 from - $185,216 thousand in Fiscal 2025 .</li><li>Interest Income (Expense), net: Increased to - $30,288 thousand in Fiscal 2026 from - $6,115 thousand in Fiscal 2025 .</li><li>Other Income (Expense), net: Decreased to - $7,276 thousand in Fiscal 2026 from - $13,431 thousand in Fiscal 2025 .</li><li>Income Tax Expense (Benefit): Increased to $294,752 thousand in Fiscal 2026 from - $2,890 thousand in Fiscal 2025, with an effective tax rate of -146.9% in Fiscal 2026 .</li><li>Income (Loss) from Equity Method Investments: Decreased to - $215 thousand in Fiscal 2026 from $605 thousand in Fiscal 2025 .</li><li>Net Income (Loss): Decreased to - $495,643 thousand in Fiscal 2026 from - $201,267 thousand in Fiscal 2025 .</li></ul><h4>Segment Operating Income (Loss)</h4><ul><li>North America: Operating income decreased by 29.7% to $442,503 thousand in Fiscal 2026 from $629,518 thousand in Fiscal 2025 .</li><li>EMEA: Operating income increased by 30.1% to $191,487 thousand in Fiscal 2026 from $147,182 thousand in Fiscal 2025 .</li><li>Asia-Pacific: Operating income increased by 15.4% to $84,466 thousand in Fiscal 2026 from $73,187 thousand in Fiscal 2025 .</li><li>Latin America: Operating income decreased by 37.1% to $29,901 thousand in Fiscal 2026 from $47,532 thousand in Fiscal 2025 .</li><li>Corporate Other (Operating Loss): Decreased by 15.8% to - $911,469 thousand in Fiscal 2026 from - $1,082,635 thousand in Fiscal 2025 .</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Provided by (Used in) Operating Activities: Totaled - $75,088 thousand in Fiscal 2026, compared to - $59,319 thousand in Fiscal 2025 .</li><li>Net Cash Provided by (Used in) Investing Activities: Totaled - $688,810 thousand in Fiscal 2026, compared to - $126,350 thousand in Fiscal 2025, primarily due to a $601,235 thousand deposit into a restricted investment . Capital expenditures were $87,075 thousand in Fiscal 2026 compared to $168,684 thousand in Fiscal 2025 .</li><li>Net Cash Provided by (Used in) Financing Activities: Totaled $560,628 thousand in Fiscal 2026, compared to - $180,806 thousand in Fiscal 2025, driven by the issuance of Senior Notes and revolving credit facility borrowings .</li><li>Cash and Cash Equivalents: $309,168 thousand as of March 31, 2026 .</li></ul><h4>Unique Metrics</h4><ul><li>2025 Restructuring Plan: The total plan was increased to approximately $305,000 thousand, with $260,700 thousand recorded as of March 31, 2026, and is expected to be substantially complete by December 31, 2026 .</li><li>Share Repurchase Program: Under a $500,000 thousand authorization, Under Armour, Inc. repurchased $25,000 thousand of Class C Common Stock (5.2 million shares) in Fiscal 2026, with $385,000 thousand remaining under the program .</li><li>Customer Refund Liabilities: $126,097 thousand as of March 31, 2026 .</li><li>Inventory Associated with Reserves for Sales Returns: $28,537 thousand as of March 31, 2026 .</li><li>Allowance for Doubtful Accounts: $5,018 thousand as of March 31, 2026 .</li><li>Inventory Reserve: $39,700 thousand as of March 31, 2026 .</li><li>Long-term Debt: Total outstanding was $1,190,444 thousand as of March 31, 2026, including $200,000 thousand from the credit facility, $600,000 thousand from 3.25% Senior Notes due 2026, and $400,000 thousand from 7.25% Senior Notes due 2030 .</li><li>Contractual Commitments: Total future minimum payments were $3,074,542 thousand as of March 31, 2026 .</li></ul><h4>Outlook / Guidance</h4>Under Armour, Inc. anticipates further litigation and changes in tariff rates during Fiscal 2027, with current tariffs expected to increase product costs and negatively impact gross margins . The company notes that volatility in global trade policy creates uncertainty for Fiscal 2027 results, affecting revenue, gross profit, and operating income . An IEEPA refund process was launched in April 2026 to evaluate potential reimbursement of previously paid tariffs, though the timing and amount of recovery are uncertain .

Under Armour | 10-K: FY2026 Revenue Beats Estimate at USD 4.966 B