On Holding AG (NYSE:ONON) shares jumped 11.2% in the premarket trade Tuesday after the Swiss shoemaker reported fourth-quarter results that beat analyst expectations.

The company posted Q4 earnings per share (EPS) of CHF 0.27, exceeding consensus estimates of CHF 0.18. Revenue for the period came in at CHF 606.6 million, also above the projected CHF 594.5 million.

Adjusted EBITDA rose 38% year-over-year to CHF 99.4 million, slightly ahead of the CHF 97.2 million forecast.

On reported a Q4 gross margin of 62.1%, compared to the 61.7% expected by analysts. 

“We close this remarkable year with immense pride in all that we’ve accomplished. Exceeding CHF 2.3 billion in net sales and reaching a cash position close to CHF 1 billion are not just milestones but testaments to On’s continued strong momentum, all made possible through the incredible work of our team," said Martin Hoffmann, Co-CEO and CFO of On.

"We are excited to launch a firework of new products and deliver an even more premium experience at every touchpoint to our fans. Ultimately building with our community and fans towards becoming the most premium global sportswear brand.”

For 2025, On Holding expects revenue of CHF 2.94 billion, slightly below the consensus of CHF 2.96 billion. The company remains confident in maintaining its growth trajectory and aims for a constant currency net sales growth rate of at least 27% for the year.

It forecasts an adjusted EBITDA margin of 17% to 17.5%, in line with the 17.5% estimate. On said it is "steadily progressing toward its ambitious mid-term target of achieving an adjusted EBITDA margin of over 18% in 2026."