On Holding (ONON) Q3 2026 Earnings Call Transcript

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Operator: Hello, everyone. Thank you for joining us, and welcome to the On Holding AG Q3 2026 Results. [Operator Instructions] I will now hand the conference over to Liv…

Operator: Hello, everyone. Thank you for joining us, and welcome to the On Holding AG Q3 2026 Results. [Operator Instructions] I will now hand the conference over to Liv Radlinger, Head of Investor Relations. Liv, please go ahead.

Liv Radlinger: Good afternoon, and good morning to our investor community. Thank you for joining On's third quarter earnings conference call and webcast. With me today on the call are Caspar Coppetti, Founder and Co-CEO; and Frank Sluis, CFO. David Allemann, Founder and Co-CEO, will join us for the Q&A session. Before we begin, I will briefly remind everyone that today's call will contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current expectations and beliefs only and are subject to certain risks and uncertainties that could cause actual results to differ materially.

Please refer to our annual report on Form 20-F for the 2025 fiscal year filed with the SEC on 3rd March 2026 for a detailed discussion of such risks and uncertainties. We will further reference certain non-IFRS financial measures such as adjusted EBITDA and adjusted EBITDA margin. These measures are not intended to be considered in isolation or as a substitute for the financial information presented in accordance with IFRS accounting standards. Please refer to today's release for a reconciliation to the most comparable IFRS measures.

Caspar Coppetti: Thank you, and a very warm welcome to everyone from Zurich. 7 weeks ago, we were thrilled to host so many of you here with us for our second Investor Day. You walked through our lab, our maker space and our foam competence center. You watched a LightSpray upper come together in minutes, saw the design-led vision that will take our apparel business to the next level and got a first look behind the curtain at our plans for new sports.

On that stage, we made a clear commitment for the next 3 years: to redefine what a sportswear brand can be by running…

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