Shares of On Holding AG (NYSE: ONON) soared 5.71% 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 adjusted earnings per share came in at CHF 0.21, slightly below the estimated CHF 0.22. Despite the minor earnings miss, investors were encouraged by the company's strong top-line growth and positive outlook.

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%. The company attributes this growth to strong demand across its multi-channel strategy, with notable increases in both direct-to-consumer (DTC) and wholesale channels. 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%. On Holding also noted plans to implement selective pricing adjustments in the US market starting July, in response to potential tariff impacts on its production in Vietnam.