Swiss sportswear label On raised its 2026 adjusted EBITDA margin forecast after Q1 net sales rose 14.5% to 831.9 million Swiss francs ($1.07 billion), beating analyst estimates. The company now expects a full-year adjusted EBITDA margin of 19.5% to 20%, up from prior guidance of 18.5% to 19%. Co-CEO Caspar Coppetti highlighted growing momentum with younger female consumers, backed by campaigns with actress Zendaya. The Cloudtilt became the top-selling shoe at Foot Locker Europe in March. Asia-Pacific was the fastest-growing region, with sales up 44.4%. The results coincide with co-founders David Allemann and Caspar Coppetti assuming joint CEO roles on May 1, alongside new CFO Frank Sluis.

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