Contra
Despite the market reaction, On still reported strong net income of 105 million francs ($129.4 million)—a marked improvement compared to a 40.9 million franc ($50.4 million) loss during the same period last year. Gross profit margin also reached 65.4%, also beating last year’s 61.5% margin and prompting the company to raise its estimates for the metric to 65% for the full year.
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Key Background
Federer is still very close to billionaire status. The tennis legend retired in 2022 after winning roughly $131 million in prize money over the course of his 24-year career, which included 20 Grand Slam titles. However, his ongoing endorsement deals with companies like Uniqlo and his minority stake in On Holding grew his fortune even further, boosting him to billionaire status in 2025. Federer joined On as a co-owner in 2019 and the company describes the tennis legend as a “close partner to our founders.”
Further Reading
ForbesTennis Legend Roger Federer Is Now A BillionaireBy Justin Birnbaum
ForbesHow This Swiss Shoemaker Convinced Tennis Legend Roger Federer To Invest In Its ‘Frankenstein’ SneakersBy David Dawkins