On Holding and Kuros report divergent financial results

Swiss companies On Holding AG and Kuros Group have reported their recent financial results, showing divergent market reactions.

On Holding AG experienced a significant stock price drop on Wall Street, falling 20 percent to $31.91 following second-quarter results. While the company achieved record revenue of 850 million Swiss francs—a 13.5 percent increase—it missed analyst expectations of approximately 880 million francs. Growth in the critical US market slowed to 13 percent. Consequently, Jefferies analyst Randal Konik lowered his price target for On to $20, which is below its 2021 IPO price of $24. Despite the volatility, On reported a profit of 105 million Swiss francs, compared to a loss in the previous year's quarter.

Kuros Group reported a strong first half of 2026, with revenue increasing 45 percent to $92.4 million. The company achieved its first net profit of $4.4 million, up from a $2.0 million loss the previous year. This growth was driven by market share gains in orthobiologics, specifically its MagnetOs product. Kuros confirmed its full-year targets, including a minimum revenue increase of 35 percent, and reiterated its medium-term goal of reaching $300 to $330 million in revenue by 2028.