Columbia Sportswear Company · NASDAQ:COLM
Columbia Sportswear — Q2 2025 Earnings Presentation
20 slides from Columbia Sportswear's earnings presentation, Jul 31, 2025
Slide 1: CFO Commentary and Financial Review Second Quarter 2025
CFO COMMENTARY AND FINANCIAL REVIEW SECOND QUARTER 2025 JULY 31, 2025 Exhibit 99.2
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This presentation does not constitute an offer or invitation for the sale or purchase of securities and has been prepared solely for informational purposes. This presentation contains forward-looking statements within the meaning of the federal securities laws regarding Co
Slide 3: Abbreviations and Definitions
DTC DTC.com DTC B&M y/y U.S. LAAP EMEA SG&A EPS bps direct-to-consumer DTC e-commerce DTC brick & mortar year-over-year United States Latin America and Asia Pacific Europe, Middle East and Africa selling, general & administrative earnings per share basis points “+” or “up” “-” or “down” LSD% MSD% HS
Slide 4: We Connect Active People with Their Passions
W E C O N N E C T A C T I V E P E O P L E W I T H T H E I R P A S S I O N S
Slide 5: Capital Allocation Priorities
CAPITAL ALLOCATION PRIORITIES OUR GOAL IS TO MAINTAIN OUR STRONG BALANCE SHEET AND DISCIPLINED APPROACH TO CAPITAL ALLOCATION. DEPENDENT UPON OUR FINANCIAL POSITION, MARKET CONDITIONS AND OUR STRATEGIC PRIORITIES, OUR CAPITAL ALLOCATION APPROACH INCLUDES: INVEST INORGANIC GROWTH OPPORTUNITIES TO DRI
Slide 6: Q2'25 Financial Results Compared to Q2'24
Q2'25 FINANCIAL RESULTS COMPARED TO Q2'24 $605M $(0.19) +6% +5% Net Sales Gross Margin Operating Margin Diluted EPS Q2'25 Highlights: + Net sales increase reflected strength in most of our international markets, offset by underlying weakness in the U.S. + Compared to guidance, net sales upside was d
Slide 7: • • • • (dollars in millions, except per share amounts) Q2'25 Q2'24 Change
• • • • (dollars in millions, except per share amounts) Q2'25 Q2'24 Change Net Sales $605.2 $570.2 +6% Gross margin 49.1% 47.9% +120 bps SG&A percent of net sales 53.8% 53.1% +70 bps Operating loss ($23.6) ($23.8) +1% Operating margin -3.9% -4.2% +30 bps Net loss ($10.2) ($11.7) +13% Diluted EPS ($0
Slide 8: Q2'25 Net Sales and Growth vs. Q2'24
Q2'25 NET SALES AND GROWTH VS. Q2'24 Commentary below is based on constant currency performance. + Wholesale: up LSD%. Wholesale shipment timing and higher Spring ‘25 orders benefitted sales in the quarter, partially offset by lower closeout CANADA sales 42% (+5% c.c.) a _ + DTC: down MSD% (DTC B&M
Slide 9: Q2'25 Net Sales Overview
Q2’25 NET SALES OVERVIEW : Q2'25 NET SALES AND GROWTH VS. Q2'24 CATEGORY BRAND CHANNEL PERFORMANCE PERFORMANCE PERFORMANCE APPAREL, ACCESSORIES . penne Columbia is WHOLESALE: P +7% Hex ec) 48% G7%ec) HE -10% H11% cc.) 9 #14% (114% cc) $494M $548M $19M $317M SL HARD FOOTWEAR: prAna WEAR DTC: t +4% (+
Slide 10: Q2'25 Gross Margin Expanded to 49.1%
Q2’25 gross margin expanded 120 bps y/y to 49.1% “asi Healthier overall inventory composition = enabled improved product margins aoe Tailwinds * Channel Profitability: higher wholesale margins driven by lower closeout sales with higher margins, and favorable product sales mix + Channel Profitability
Slide 11: Q2'25 SG&A Increased $22.9 Million, or 8%
Q2’25 SG&A increased $22.9 million, or 8% | = Primary SG&A Expense Increases or + Omni-channel: higher DTC B&M lm expenses related to new stores, partially offset by temporary clearance location closures + Demand Creation: increased demand creation investments as part of ACCELERATE, represented 5.7%
Slide 12: Balance Sheet
BALANCE SHEET OVERVIEW BALANCE SHEET AS OF JUNE 30, 2025, CASH, CASH EQUIVALENTS, AND SHORT-TERM INVESTMENTS INVENTORY Cash, cash equivalents and short-term investments totaled $579.0M, compared to $711.1M as of June 30, 2024. Inventories +13% y/y to $926.9M, primarily reflecting earlier receipt of
Slide 13: Capital Overview
CAPITAL OVERVIEW YTD NET CASH FLOW PROVIDED BY (USED IN) OPERATIONS S 6 3 M Net cash flow used in operating activities was $62.9M, a compared to net cash flow provided by operating activities of $108.9M for the same period in 2024. ~ YTD CAPITAL EXPENDITURES S30M Capital expenditures totaled $30,0M
Slide 14: 2025 Financial Outlook
2025 FINANCIAL OUTLOOK The Company's 2025 Financial Outlook is forward-looking in nature, and the following forward-looking statements reflect our expectations as of July 31, 2025 and are subject to significant risks and business uncertainties, including those factors described under “Forward-Lookin
Slide 15: ACCELERATE Growth Strategy
HSTRATEGY « ACCELERATE is a consumer-centric growth strategy intended to elevate the Columbia brand to attract younger and more active consumers. It is a multi-year ACCELERATE GRO initiative centered around several consumer-centric shifts to our brand, product and marketplace strategies, as well as
Slide 16: Profit Improvement Plan
_ ROVEME! — The Company has executed cost savings that exceed the original $125-150 million profit “a improvement target set in 2024 and continues to seek additional savings Annualized Cost Savings Executed to Date Profit Improvement Plan ~S90M in 2024 and ~$70M in 2025 YTD Objective Right-size the
Slide 17: Appendix
Slide 18: Reconciliation of GAAP to Non-GAAP Financial Measures
COLUMBIA SPORTSWEAR COMPANY Reconciliation of GAAP to Non-GAAP Financial Measures $ 35117 $ — $ w5,IT S$ Oz 112333 (028) 111,405 99.484 130,562 (2,010) 128,552, 103,922 22M 77.98 26610 Si t05246 S246) $603000 $570.26 $5485 $ (2,202) $ 546,143 $ 508613 18.826 (6) 1882121034 20537 3 20,540 21,796 17.5
Slide 19: Six Months Free Cash Flow Reconciliation
SIX MONTHS FREE CASH FLOW RECONCILIATION ....” COLUMBIA SPORTSWEAR COMPANY Reconciliation of GAAP to Non-GAAP Financial Measures Net cash provided by (used in) operating activities to free cash flow (Unaudited) Six Months Ended June 30, ih thousands) 2025 2024 "Net cash provided by (used in) operati
Slide 20: Columbia
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