On Holding AG (NYSE:ONON) shares are trading higher Friday after the company reported financial results.
On said fourth-quarter revenue increased 53.7% year-over-year to CHF 191.1 million ($204.33 million). The company reported quarterly adjusted EBITDA of $11.98 million.
On said gross profit increased 74% year-over-year to $119.54 million. Fourth-quarter gross margin increased from 51.7% to 58.5%.
"Based on the elevated inventory position, we expect to be able to meet a higher share of the demand from our customers in the first half of 2022 and to drive higher growth than previously expected," the company said.
On now expects full-year 2022 revenue to grow at least 37% year-over-year to about $1.06 billion.
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ON 52-Week Range: $19.75 - $55.87
On shares were up 8.35% at $26.47 at time of publication.
Photo: courtesy of On Holding.
