Columbia Sportswear Company · NASDAQ:COLM
Columbia Sportswear — Q3 2025 Earnings Presentation
20 slides from Columbia Sportswear's earnings presentation, Oct 30, 2025
Slide 1: CFO Commentary and Financial Review Third Quarter 2025
AGENDA CFO COMMENTARY AND FINANCIAL REVIEW THIRD QUARTER 2025 OCTOBER 30 , 2025 CSC Confidential – Sensitive Information
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 regardi
Slide 3: References to Non-GAAP Financial Information
REFERENCES TO NON - GAAP FINANCIAL INFORMATION Since Columbia Sportswear Company is a global company, the comparability of its operating results reported in U.S. dollars is affected by foreign currency exchange rate fluctuations because the underlying currencies in which it transacts change in value
Slide 4: We Connect Active People With Their Passions
WE CONNECT ACTIVE PEOPLE WITH THEIR PASSIONS ACCELERATE PROFITABLE GROWTH CREATE DRIVE ENHANCE AMPLIFY ICONIC PRODUCTS BRAND ENGAGEMENT CONSUMER EXPERIENCES MARKETPLACE EXCELLENCE Differentiated, Functional, Innovative Increased, Focused Demand Creation Invest in Capabilities to Delight Digitally -
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 IN ORGANIC GROWTH OPPORTUNITIES TO D
Slide 6: Q3'25 Financial Overview
Q3’25 FINANCIAL OVERVIEW Q 3 ’25 FINANCIAL RESULTS COMPARED TO Q 3 ’24 Q 3 ’25 Highlights : • Net sales increase reflected strength in most of our international markets, partially offset by underlying weakness in the U.S. • Compared to July 2025 guidance, net sales upside was driven by earlier shipm
Slide 7: Q3'25 Actual vs Last Year
Q3’25 ACTUAL VS LAST YEAR (dollars in millions, except per share amounts) Q3'25 Q3'24 Change Net Sales $943.4 $931.8 +1% Gross margin 50.0% 50.2% -20 bps SG&A percent of net sales 40.4% 38.8% +160 bps Operating income $67.4 $112.5 -40% Operating margin 7.1% 12.1% -500 bps Net income $52.0 $90.2 -42%
Slide 8: Q3'25 Regional Net Sales Performance
Q3’25 REGIONAL NET SALES PERFORMANCE Commentary below is based on constant currency performance . Q 3 ’25 NET SALES AND GROWTH VS . Q 3 ’24 U.S . • Wholesale : relatively flat, earlier wholesale shipment timing, partially offset by lower Fall ‘25 orders • DTC : down HSD % (DTC B&M down HSD %, DTC .c
Slide 9: Q3'25 Net Sales Overview
Q3’25 NET SALES OVERVIEW Q 3 ’25 NET SALES AND GROWTH VS . Q 3 ’24 CATEGORY BRAND CHANNEL PERFORMANCE PERFORMANCE PERFORMANCE APPAREL, ACCESSORIES WHOLESALE: & EQUIPMENT: 0 % (- 1 % c .c .) +1 % (- 1 % c .c .) +10 % (+9 % c .c .) +5 % (+4 % c .c .) $734M $804M $81 M $63 4 M FOOTWEAR: DTC: +6 % (+5 %
Slide 10: Q3'25 Gross Margin Bridge
Q3’25 GROSS MARGIN BRIDGE Q3’25 GROSS MARGIN CONTRACTED 20 BPS Y/Y TO 50.0% HEADWINDS • Channel Profitability: increased tariffs incurred ~$15M in incremental tariff expense prior to mitigation actions • FX: unfavorable effects from foreign exchange hedge rates TAILWINDS • Channel Profitability: low
Slide 11: Q3'25 SG&A Bridge vs Last Year
Q3’25 SG&A BRIDGE VS LAST YEAR Q3’25 SG&A INCREASED $19.7 MILLION, OR 5% PRIMARY SG&A EXPENSE INCREASES • Marketing: increased demand creation investments as part of ACCELERATE, represented 6.8% of sales vs. 5.7% in Q3’24 • Omni - channel: higher brick & mortar expenses related to new stores, partia
Slide 12: Balance Sheet Overview
BALANCE SHEET OVERVIEW BALANCE SHEET AS OF SEPTEMBER 30 , 2025 CASH, CASH EQUIVALENTS, AND SHORT - TERM INVESTMENTS Cash, cash equivalents and short - term investments $236 M totaled $236 .0 M, compared to $373 .9 M as of September 30 , 2024 . INVENTORY Inventories were essentially flat y/y at $800
Slide 13: Capital Overview
CAPITAL OVERVIEW YTD NET CASH FLOW USED IN OPERATIONS Net cash flow used in operating activities was $333 .4 M, - $333M compared to $76 .6 M for the same period in 2024 . The change in operating cash flow was primarily driven by earlier timing of inventory receipts and payments, in part to proactive
Slide 14: 2025 Financial Outlook and Preliminary H1'26
2025 FINANCIAL OUTLOOK AND PRELIMINARY H1’26 COMMENTARY The Company's 2025 Financial Outlook is forward - looking in nature, and the following forward - looking statements reflect our expectations as of October 30 , 2025 and are subject to significant risks and business uncertain ties, including tho
Slide 15: ACCELERATE Growth Strategy
ACCELERATE GROWTH STRATEGY 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 initiative centered around several consumer - centric shifts to our brand, product and marketplace strategies, as w
Slide 16: Profit Improvement Plan Update
PROFIT IMPROVEMENT PLAN UPDATE The Company has executed cost savings that exceed the original $125 - 150 million profit improvement target set in 2024 and continues to seek additional savings Annualized Cost Savings Executed to Date Profit Improvement Plan ~$90M in 2024 and ~$70M in 2025 YTD Objecti
Slide 17: Appendix
APPENDIX
Slide 18: Q3'25 Constant-Currency Reconciliation
Q3’25 CONSTANT - CURRENCY RECONCILIATION CSC Confidential – Sensitive Information
Slide 19: Nine Months Free Cash Flow Reconciliation
NINE MONTHS FREE CASH FLOW RECONCILIATION CSC Confidential – Sensitive Information
Slide 20: Columbia ARDS
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