Slide 1: Q2 2025 Investor Presentation
Q2 2025 Investor Presentation
Slide 2: Forward Looking Statement
Forward Looking Statement This presentation includes estimates, projections, and statements relating to our business plans, commitments, objectives, and expected operating results that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Sectio
Slide 3: Crocs, Inc. Reports Solid Q2 Results
Crocs, Inc. Reports Solid Q2 Results “We reported a solid second quarter with both our Crocs and HEYDUDE brands contributing to our performance, while delivering the highest ever gross profit quarter in company history. Our strong cash flow generation enabled us to return shareholder value through $
Slide 4: Investment Thesis
Investment Thesis 4
Slide 5: Investment Thesis
Investment Thesis 1 2 3 4 5 Global leader in Diversified sources Strong value Durable, profitable Best-in-class casual footwear of growth across proposition with growth with top-tier management team with two iconic brands, categories, assortments <$100 margins and cash with track record of brands an
Slide 6: We Have A Strong And Diversified Platform For Growth
(1) We Have A Strong And Diversified Platform For Growth HEYDUDE 19% SHARE OF WHL DTC Brand Channel ENTERPRISE 50% 50% Crocs 81% International 47% SHARE OF Geography CROCS BRAND North America 53% 1. Trailing Twelve Month ratio 6
Slide 7: Crocs Inc. Growth Priorities
Crocs Inc. Growth Priorities Ignite Our Icons Within Tier 1 Market Share Gains Attract New Consumers Crocs and HEYDUDE through driving awareness and through strategic investment through methodically diversifying global relevance for new and behind talent, marketing, our product range and usage exist
Slide 8: Crocs Brand Strategy
Crocs Brand Strategy Drive Brand Relevance through Icon Iterations Gain Market Share Outside of Clogs through New Wearing Occasions Fuel Disruptive and Authentic Social and Digital Marketing Gain Share in Markets around the World 8
Slide 9: HEYDUDE Brand Strategy
HEYDUDE Brand Strategy Ignite Our Community Through HEYDUDE Country Scale Our Core, Then Add More Stabilize Then Accelerate North America, While Planting Seeds Internationally 9
Slide 10: Financial Outlook
Financial Outlook 10
Slide 11: Guidance: Q3 and Full Year 2025
Guidance: Q3 and Full Year 2025 It is difficult to fully project the financial implications of changing global trade policies as well as predicting how consumer sentiment and purchasing patterns will evolve in the back-half of the year. As a result, we are not reinstating annual guidance at this tim
Slide 12: Capital Allocation Priorities
Capital Allocation Priorities Invest in Our Brands Debt Paydown Repurchase Shares committed to redeploying best- maintain our net leverage target opportunistically repurchase (1) in-class gross margins to accretive range of 1.0x to 1.5x shares under our remaining $1.1B investments buyback authorizat
Slide 13: Financial Results
Financial Results 13
Slide 14: Q2 2025 Financial Results
Q2 2025 Financial Results Crocs, Inc. Crocs Brand HEYDUDE Brand (1) $1,149M $960M $190M Revenues +3% vs. LY +4% vs. LY (4%) vs. LY Adjusted Gross Margin(2) 61.7% 64.1% 50.2% +30bps vs. LY Flat vs. LY +110bps vs. LY Adjusted SG&A as % of Revenue(3) 34.7% +270bps vs. LY Adjusted Operating Income(3) $3
Slide 15: Crocs Brand Highlights: Q2
(1) Crocs Brand Highlights: Q2 Direct-to-Consumer Wholesale Q2 Revenues $495M $465M $960M +3% vs. LY +6% vs. LY North America International year-over-year growth of +4% $457M $502M (6%) vs. LY +16% vs. LY • International grew 16% in the quarter, representing more than half of revenue mix including C
Slide 16: HEYDUDE Brand Highlights: Q2
(1) HEYDUDE Brand Highlights: Q2 Direct-to- Q2 Revenues Consumer Wholesale $190M $90M $100M year-over-year declines of (4%) (13%) vs. LY +7% vs. LY • Launched the ‘HEYDUDE Country’ campaign which will feature several brand affinities including music, pre- and post-sport, and travel • HEYDUDE aided a
Slide 17: Appendix
Appendix 17
Slide 18: Non-GAAP Reconciliation
APPENDIX Non-GAAP Reconciliation In addition to financial measures presented on the basis of accounting principles generally accepted in the United States of America (“GAAP”), we present "Non-GAAP gross profit," “Non-GAAP gross margin,” “Non-GAAP gross margin by brand,” "Non-GAAP selling, general, a
Slide 19: Non-GAAP Reconciliation (Cont'd)
APPENDIX Non-GAAP Reconciliation (Cont'd) Non-GAAP Selling, General and Administrative Reconciliation: Three Months Ended June 30, 2025 2024 (in thousands) GAAP revenues $ 1,149,373 $ 1,111,502 GAAP selling, general and administrative expenses $ 1,136,352 $ 356,178 (1) Impairment of indefinite-lived
Slide 20: Non-GAAP Reconciliation (Cont'd)
APPENDIX Non-GAAP Reconciliation (Cont'd) Non-GAAP Income from Operations and Operating Margin Reconciliation: Three Months Ended June 30, 2025 2024 (in thousands) GAAP revenues $ 1,149,373 $ 1,111,502 GAAP income from operations $ (427,516) $ 325,738 (1) Non-GAAP selling, general and administrative
Slide 21: Non-GAAP Reconciliation (Cont'd)
APPENDIX Non-GAAP Reconciliation (Cont'd) Non-GAAP Income Tax Expense (Benefit) and Effective Tax Rate Reconciliation: Three Months Ended June 30, 2025 2024 (in thousands) GAAP income from operations $ (427,516) $ 325,738 GAAP income before income taxes (448,607) 296,425 (1) Non-GAAP income from ope
Slide 22: Non-GAAP Reconciliation (Cont'd)
APPENDIX Non-GAAP Reconciliation (Cont'd) Non-GAAP Earnings Per Share Reconciliation: Three Months Ended June 30, 2025 2024 (in thousands, except per share data) Numerator: GAAP net income $ (492,282) $ 228,907 Non-GAAP selling, (1) general and administrative expenses adjustments 737,000 — (2) Tax e
Slide 23: Non-GAAP Reconciliation (Cont'd)
APPENDIX Non-GAAP Reconciliation (Cont'd) Free Cash Flow Reconciliation Three Months Ended June 30, 2025 2024 (in thousands) Cash provided by operating activities $ 285,800 $ 401,236 Purchases of property, equipment, and software (16,571) (17,056) Free cash flow $ 269,229 $ 384,180 23
Slide 24: CROCS inc:
CROCS inc: