Priorities appear disciplined: invest organically in product, brand, and DTC; expand HOKA retail selectively; and return excess capital via buybacks. FY25 repurchases totaled about 567 million dollars and the board expanded authorization to 2.5 billion dollars.
Q1 FY26 repurchases continued, and the company executed a six‑for‑one stock split in September 2024 to broaden ownership. M&A has been restrained, with Sanuk divested in August 2024 and Koolaburra being wound down to sharpen focus. Stock‑based compensation remains modest relative to cash generation.







