Shares of On Holding were higher after the Swiss company disclosed its fiscal 2029 financial targets.

The stock rose 7.7%, to $29.42, in premarket trading Tuesday. Through Monday's close, shares are down nearly 42% year to date.

The running-shoe maker said before the bell that net sales are projected to reach at least 5.6 billion Swiss francs ($6.84 billion) in 2029, assuming current foreign exchange rates.

Over the same period, On Holding said it is committed to maintaining a gross margin of more than 65% and reaching an adjusted Ebitda--or earnings before interest, taxes, depreciation and amortization--margin of 22%.

The company said its outlook is based on continued growth across verticals, regions and channels, additionally fueled by its expansion into new product categories such as soccer and golf. On Holding last week signed a deal with Real Madrid forward and French national team captain Kylian Mbappé to be the face of its new soccer category.

With its forecasts, On Holding said it has received authorization from its board to repurchase up to $1 billion of its Class A ordinary shares through the end of December 2029.

The company also appointed Laura Miele, president of enterprise development at Electronic Arts, as lead independent director. She has served on On Holding's board and audit committee since 2024.