HighGravityDataCrocs — Oct 30, 2025 release
Fiscal 2025 third-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001334036-25-000099
Showing in the filing
Non-GAAP diluted earnings per share
“$1.82 to $1.92”
Period
Q4 FY2025
Measure
Company-defined measure
Source
Guidance table
All guidance in this release · 15
Gross cost savings for FY2025
“$50 million”
Incremental gross cost savings
“$100 million”
Operating leverage for FY2026
“committed to driving operating leverage”
Revenues for Q4 FY2025
“down approximately 8%”
Crocs Brand revenues for Q4 FY2025
“down approximately 3%”
HEYDUDE Brand revenues for Q4 FY2025
“down mid-20% approximately”
Non-GAAP adjustments for Q4 FY2025
“approximately $10 million”
Adjusted operating margin for Q4 FY2025
“approximately 15.5%”
GAAP effective tax rate for Q4 FY2025
“approximately 20%”
Capital expenditures for FY2025
“$70 million to $75 million”
GAAP operating margin for Q4 FY2025
“14.4%”
Non-GAAP operating margin for Q4 FY2025
“15.5%”
Non-GAAP effective tax rate for Q4 FY2025
“16%”
GAAP diluted earnings per share for Q4 FY2025
“$1.58 to $1.68”
Non-GAAP diluted earnings per share for Q4 FY2025
“$1.82 to $1.92”
Exhibit 99.1 · the passage around this item
… earlier in the release
12 Free cash flow reconciliation: Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 (in thousands) Cash provided by operating activities $ 239,336 $ 296,887 $ 457,901 $ 670,549 Purchases of property, equipment, and software (13,174) (18,051) (45,120) (50,857) Free cash flow $ 226,162 $ 278,836 $ 412,781 $ 619,692 13 RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL GUIDANCE Fourth Quarter 2025: Approximately: Non-GAAP operating margin reconciliation: GAAP operating margin 14.4% Non-GAAP adjustments (1) 1.1% Non-GAAP operating margin 15.5% Non-GAAP effective tax rate reconciliation: GAAP effective tax rate 20% Non-GAAP adjustments (2) (4)% Non-GAAP effective tax rate 16% Non-GAAP diluted earnings per share reconciliation: GAAP diluted earnings per share $1.58 to $1.68 Non-GAAP adjustments (1)(2) $0.24 Non-GAAP diluted earnings per share $1.82 to $1.92 (1) In the fourth quarter of 2025, we expect to incur approximately $10 million of non-GAAP adjustments, primarily associated with our cost reduction initiatives. (2) In the fourth quarter of 2024, and previously in 2023, 2021, and 2020, we made changes to our international legal structure, including an intra-entity transaction related to certain intellectual property rights, primarily to align with current and future international operations. The transactions resulted in a step-up in the tax basis of intellectual property rights and correlated increases in foreign deferred tax assets based on the fair value of the transferred intellectual property rights. This adjustment represents the fourth quarter 2025 impact of these transactions. Non-GAAP Financial Guidance Now that we have entered the fourth quarter of 2025, we are able to estimate our anticipated fourth quarter 2025 non-GAAP adjustments with a reasonable degree of certainty and reconcile these forward-looking adjusted measures without unreasonable efforts. Our forward-looking guidance for consolidated “adjusted operating margin,” “adjusted effective tax rate,” and “adjusted diluted earnings per share” represents non-GAAP f
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.