According to CoinMeta, the stock price of On Holding AG fell significantly by over 18% during morning trading on Tuesday due to a slowdown in wholesale channels, reaching 31.48 US dollars. Although its direct sales channel performed strongly in the second quarter, the company's overall sales still did not meet expectations. On stated that consumers under the age of 34 now account for one-third of its customer base, and its Cloudtilt series has received a strong response among this important demographic group. Founder and Co-CEO David Allemann said that the company's financial strength enables it to reinvest in factors that drive long-term success, including a genuine brand connection and a high-quality customer experience. In the second quarter, On's net revenue soared to 105 million Swiss francs, compared to a loss of 40.9 million Swiss francs in the same period last year. Net sales increased by 13.5% to 850.3 million Swiss francs, with direct sales channel sales growing by 26% to 388.4 million Swiss francs.