Crocs — Oct 30, 2025 release

While our results came in ahead of expectations, we believe both of our brands have greater potential, and are working to re-gain momentum in the marketplace,” said Andrew Rees, Chief Executive Officer. Mr. Rees continued, “As we look forward, in addition to the $50 million of gross cost savings in 2025, we have identified an incremental $100 million of gross cost savings, and are committed to driving operating leverage in 2026.” Amounts referred to as “Adjusted” or “Non-GAAP” are Non-GAAP measures and include adjustments that are described under the heading “Reconciliation of GAAP Measures to Non-GAAP Measures.” A reconciliation of these amounts to their GAAP counterparts is contained in the schedules below. Third Quarter 2025 Operating Results (Compared to the Same Period Last Year) • Consolidated revenues were $996 million, a decrease of 6.2%, or 6.8% on a constant currency basis. Direct-to-consumer (“DTC”) revenues grew 1.6%, or 0.9% on a constant currency basis. Wholesale revenues decreased 14.7%, or 15.1% on a constant currency basis. • Gross margin, on a reported and adjusted basis, declined 110 basis points to 58.5% compared to 59.6%. • Selling, general, and administrative expenses (“SG&A”), on a reported and adjusted basis, increased 3.3% to $375 million from $364 million, and represented 37.7% of revenues compared to 34.2%. • Income from operations, on a reported and adjusted basis, decreased 23.0% to $208 million from $270 million, resulting in operating margin of 20.8% compared to 25.4%. • Diluted earnings per shar