Shares of On Holding AG (NYSE: ONON) surged 9.50% in pre-market trading on Tuesday following the company's announcement of robust first-quarter results and an increased full-year sales forecast. The Swiss athletic footwear and apparel company, backed by tennis legend Roger Federer, continues to demonstrate strong growth and market demand for its products.

On Holding reported record quarterly net sales of CHF 726.6 million ($861.41 million) for Q1 2025, representing a significant 43% year-over-year increase. This figure surpassed analyst expectations of CHF 681.2 million. The company's growth was driven by strong performance across all channels and regions, with notable increases in both direct-to-consumer (DTC) and wholesale channels.

In light of the impressive Q1 performance, On Holding has raised its full-year 2025 net sales growth forecast to at least 28% on a constant currency basis, up from the previous expectation of 27%. CEO and CFO Martin Hoffmann highlighted that April was "the strongest month that we ever had in our history," indicating continued momentum into Q2. However, the company slightly adjusted its annual adjusted core profit margin growth forecast to a range of 16.5% to 17.5%, compared to the previous 17% to 17.5%, citing potential impacts from U.S. tariffs on its production hubs in Vietnam and Indonesia.