Companies

Under Armour posts wider full-year net loss

May 18, 2026 United States

Despite an improved adjusted operating performance, the US-based sportswear company reported a wider full-year net loss in 2026 as restructuring and tax-related charges impacted results

“Our fiscal 2026 performance reflects the ongoing intentional steps we’re taking to reset the business and restore the discipline required to operate as a best-in-class brand”, said Kevin Plank, President and CEO of Under Armour.

He added: “Over the past two years, we’ve addressed structural and macro challenges head-on while elevating our product strategy. We’re streamlining our operating model and increasing accountability in execution, driving a more controlled and predictable business”.

In full-year 2026, Under Armour generated revenue of 5.0 billion US dollars, representing a 4% decrease (or a 5% decrease on a constant currency basis) compared to the same period in the previous year.

The company reported a net loss of 496 million US dollars in the full year, which included a valuation allowance of 247 million US dollars tied to its US federal deferred tax assets, as well as 128 million US dollars in restructuring charges. This compares with a net loss of 201 million US dollars in the 2025 financial year.

Excluding litigation, restructuring and transformation-related costs, as well as the tax valuation allowance, adjusted net income stood at 50 million US dollars.

Fourth-Quarter Results

In the fourth quarter of the 2026 fiscal year, which ended on the 31^stof March, Under Armour reported a revenue of 1.2 billion US dollars, reflecting a decrease of 1% (or by 4% on a constant currency basis) compared to the same period of the previous fiscal year.

Revenue in North America declined by 7% year-on-year to 641 million US dollars during this period. In contrast, international revenue increased by 10% year-on-year (or by 3% on a constant currency basis) to 539 million US dollars.

In international markets, EMEA recorded a 7% revenue growth (down by 1% on a constant currency) basis, while Asia-Pacific recorded a 13% growth (or by 8% on a constant currency basis), and Latin America recorded a 22% growth (or by 8% on constant currency basis).

In the fourth quarter of the last fiscal year, the company’s gross margin fell year-on-year from 46.7% to 42.0%, due to pressure from higher tariffs, rising product costs, and adverse pricing conditions. The company also incurred 8 million US dollars in restructuring charges. SG&A expenses fell by 15% due to lower marketing expenditure and cost controls.

Under Armour reported an operating loss of 34 million US dollars, up from 72 million US dollars in the fourth quarter of the 2025 financial year. Excluding restructuring and transformation charges, adjusted operating income increased to 3 million US dollars, up from an adjusted operating loss of 37 million US dollars.

In the three months to the 31^st of March, the company’s diluted loss per share was 0.10 US dollars, or 0.03 US dollars on an adjusted basis. This compares to a loss of 0.16 US dollars per share, or 0.08 US dollars on an adjusted basis, in the same period of the prior year.

Fiscal 2027 Outlook

For the 2027 financial year, Under Armour expects a slight year-on-year decline in revenue, with a low single-digit decrease in North America being partially offset by low single-digit growth in EMEA and the Asia-Pacific region.

The company has also stated that diluted earnings per share are expected to range from breaking even to a loss of 0.04 US dollars, reflecting continued investment and external cost pressures. Adjusted diluted earnings per share are projected to be between 0.08 and 0.12 US dollars.

Image Credits: about.underarmour.com

United States Companies Quarter Results Results Sportswear Under Armour Year Results