Deckers Outdoor (DECK) investor relations material

Executive summary

• Achieved record third quarter revenue of $1.96 billion, up 7% year-over-year, driven by strong global demand for HOKA and UGG brands and balanced DTC and wholesale growth.

• Net sales for the nine months ended December 31, 2025, increased 9.8% year-over-year to $4.35 billion, with international sales up 27.1%.

• Diluted EPS reached a record $3.33 in Q3, up 11% year-over-year, and year-to-date EPS rose 13.3% to $6.04.

• Operating margin remained strong at 25.4% for the nine months, with Q3 gross margin at 59.8%.

• Raised full-year revenue guidance to $5.4–$5.425 billion and EPS to $6.80–$6.85, reflecting 7–8% growth.

Financial highlights

• Q3 revenue: $1.96 billion (+7% YoY); HOKA: $629 million (+18% YoY); UGG: $1.3 billion (+5% YoY).

• HOKA brand net sales grew 16.3% to $1.92 billion YTD; UGG up 8.0% to $2.33 billion YTD.

• Gross margin: 59.8% in Q3; 57.7% YTD; full-year guidance at 57%.

• SG&A: $557 million in Q3 (28.5% of revenue); $1.41 billion YTD.

• Cash and equivalents: $2.1 billion at quarter end; inventory: $633 million (+10% YoY); no outstanding borrowings.

Outlook and guidance

• FY26 revenue guidance raised to $5.4–$5.425 billion; EPS to $6.80–$6.85.

• HOKA expected to deliver mid-teens revenue growth; UGG mid-single digits, both at high end of prior guidance.

• Gross margin expected at 57%; operating margin at 22.5%.

• Q4: HOKA growth 13–14%, UGG revenue flat due to shipment timing.

• Management expects continued investments in global retail and digital channels.