Investing.com -- On Holding (NYSE: ONON) shares soared more than 10% in premarket trading on Wednesday after the Swiss sneaker brand lifted its full-year outlook following stronger-than-expected third-quarter results.

The company reported third-quarter earnings per share (EPS) of CHF 0.36, topping analysts’ estimates of CHF 0.27. Revenue rose to CHF 794.4 million, ahead of the CHF 763.8 million expected.

Net sales grew 24.9% year over year, or 34.5% at constant currency, driven by robust demand across both Direct-to-Consumer (DTC) and Wholesale channels, the company said.

DTC sales climbed 27.6% to CHF 314.7 million, or 37.5% in constant currency terms, while Wholesale revenue rose 23.3% to CHF 479.6 million, or 32.5% at constant currency.

By region, sales in EMEA increased 28.6% to CHF 213.3 million, in the Americas by 10.3% to CHF 436.2 million, and in Asia-Pacific by 94.2% to CHF 144.9 million.

Adjusted EBITDA jumped 49.8% to CHF 179.9 million from CHF 120.1 million a year earlier, lifting the margin to 22.6% from 18.9%.

Gross profit margin improved to 62.5% from 60.1%.

"This quarter was another one for the record books - a true showcase of our premium strategy in action. It reflects the best of what On stands for: innovation, purpose, and performance coming together to inspire movement," said Caspar Coppetti, Co-Founder and Executive Co-Chairman of On.

For the full year, On Holding raised its guidance and now expects constant-currency sales growth of 34%, up from at least 31% previously. At current exchange rates, this implies reported revenue of about CHF 2.98 billion, up from the previous CHF 2.91 billion.

The company also lifted its full-year adjusted EBITDA margin outlook to above 18%, from 17%–17.5% earlier, and now sees its gross profit margin around 62.5%, compared with prior guidance of 60.5%–61.0%.