Swiss sportswear brand On reported full-year 2025 net sales of 3.01 billion Swiss francs ($3.37 billion), up 30.0% YoY — the first time annual sales have surpassed 3 billion Swiss francs. Gross margin improved to 62.8%, with adjusted EBITDA margin at 18.8%. Asia-Pacific led regional growth, with net sales up 96.4% to 511.1 million Swiss francs ($571 million). EMEA rose 32.0% to 762.7 million Swiss francs ($852 million), while Americas increased 17.6% to 1.74 billion Swiss francs ($1.94 billion). The company cited breakthrough product innovation and brand momentum as key drivers.

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