Shares of the Baltimore sportswear giant were down 1.3% to $8.88.
Under Armour is looking to sell the app, which it bought in 2015 for around $475 million, according to The Information, which cited two people familiar with the matter.
Founded in 2005, MyFitnessPal had 80 million users at the time it was purchased. The app uses gamification elements to motivate users, and in 2015 it introduced a premium subscription tier for its applications.
In March 2018, Under Armour disclosed a data breach of 150 million accounts at MyFitnessPal. The compromised data consisted of usernames, e-mail addresses, and hashed passwords, but not credit card numbers and government identifiers, like social security numbers and driver’s license numbers.
Payment information, which Under Armour collects and processes separately, has not been affected by the breach
Under Armour declined to comment.
Last month, Under Armour informed UCLA that it intends to terminate a record 15-year, $280 million deal with the school - a deal that was signed in 2016 and was the largest in NCAA history.
“Under Armour has recently made the difficult decision to discontinue our partnership with UCLA, as we have been paying for marketing benefits that we have not received for an extended time period. The agreement allows us to terminate in such an event and we are exercising that right," said Under Armour in an official statement.
The company recently announced it was selling an anti-coronavirus mask for $30, which it said featured "a unique, three-layer model engineered for athletes during performance."