U.S.-listed shares of sportswear maker On Holding slumped 11% to $41.6 premarket.

Co sees at least 23% sales growth in 2026 on a constant-currency basis, below 30% rise in 2025.

Sees annual profit margin increasing to at least 63%, from 62.8% in 2025, though the outlook does not yet factor in a lower U.S. tariff rate following the Supreme Court strikedown of IEEPA-based duties.

Q4 adjusted EBITDA rises 31.8%, sales up 22.6% to 743.8 million Swiss francs ($949.69 million), above estimates of 724.3 million francs - data compiled by LSEG.

Shares fell 15% in 2025.

U.S. stock index futures fall as investors assess the fallout of U.S. and Israeli strikes on Iran and the repercussions it could have on inflation and global trade.