Roger Federer-backed On Holdings raised its 2025 sales outlook, now expecting 34% year-over-year growth versus 31% previously, after Q3 net sales surged 24.9% to CHF 794.4 million, beating estimates. The company also lifted its gross margin forecast to 62.5%, citing strong demand across direct-to-consumer and wholesale channels, led by popular shoes like the Cloudmonster and Cloudrunner.