Press Release: Logitech Announces Q4 and Full Fiscal Year 2026 Results

Dow Jones
05/06

Strong FY 2026 Demonstrates Strategy and Operating Principles Are Delivering

LAUSANNE, Switzerland & SAN JOSE, Calif.--(BUSINESS WIRE)--May 05, 2026-- 

SIX Swiss Exchange Ad hoc announcement pursuant to Art. 53 LR -- Logitech International (SIX: LOGN) (Nasdaq: LOGI) today announced financial results for the fourth quarter and full Fiscal Year 2026.

For Fiscal Year 2026:

   --  Sales were $4.84 billion, up 6 percent in US dollars and 4 percent in 
      constant currency compared to the prior year. 
 
   --  GAAP operating income was $775 million, up 18 percent compared to the 
      prior year. Non-GAAP operating income was $911 million, up 18 percent 
      compared to the prior year. 
 
   --  GAAP earnings per share was $4.80, up 16 percent compared to the prior 
      year. Non-GAAP EPS was $5.78, up 19 percent compared to the prior year. 
 
 
   --  Cash flow from operations was $1.04 billion. The year-ending cash 
      balance was $1.7 billion. The Company returned $768 million of cash to 
      shareholders through its annual dividend payment and share repurchases. 
 

For Q4 Fiscal Year 2026:

   --  Sales were $1.09 billion, up 7 percent in US dollars and 3 percent in 
      constant currency compared to Q4 of the prior year. 
 
   --  GAAP operating income was $136 million, up 28 percent compared to Q4 of 
      the prior year. Non-GAAP operating income was $167 million, up 25 percent 
      compared to Q4 of the prior year. 
 
   --  GAAP EPS was $0.98, up 2 percent compared to Q4 of the prior year. 
      Non-GAAP EPS was $1.13, up 22 percent compared to Q4 of the prior year. 
 
 
   --  Cash flow from operations was $203 million. 

"Our strong Fiscal Year 2026 performance demonstrates that our strategy and operating principles of playing offense, cost discipline and agility are working," said Hanneke Faber, Logitech chief executive officer. "We closed the year with a strong Q4, and were pleased to see a solid return to growth in the Americas, and accelerated growth in Gaming. As we transition into FY27, we are amplifying our focus on future growth. Rapid AI advancements make it a unique period for us to innovate and invest for a future in which both Work and Play will look different."

"FY 2026 showcased what our teams and business model are capable of," said Matteo Anversa, Logitech chief financial officer. "Operating income grew 18% year over year, and our annual non-GAAP gross margin of 43.6% and operating margin of 18.8% were the highest ever, outside of pandemic peaks. We also delivered substantial shareholder returns of $768 million in dividends and share repurchases. While the operating environment remains volatile, we see good momentum in the business going into Q1."

Outlook

Our financial outlook for the first quarter of Fiscal Year 2027 is:

 
                                                     Q1 FY27 outlook 
Sales                                                $1,190 - $1,215 million 
Sales growth (in US dollars, year over year)         4% - 6% 
Sales growth (in constant currency, year over year)  2% - 4% 
Non-GAAP operating income                            $195 - $215 million 
 

Financial Results Videoconference and Webcast

Logitech will hold a financial results videoconference to discuss the results for the fourth quarter and full Fiscal Year 2026 on Tuesday, May 5, 2026 at 1:30 p.m. Pacific Daylight Time $(PDT)$ and 10:30 p.m. Central European Summer Time (CEST).

A livestream of the event will be available on the Logitech corporate website at https://ir.logitech.com. This press release and the Q4 Fiscal Year 2026 Shareholder Letter are also available there.

Use of Non-GAAP Financial Information and Constant Currency

To facilitate comparisons to Logitech's historical results, Logitech has included non-GAAP adjusted measures in this press release, which exclude share-based compensation expense, amortization of intangible assets, acquisition-related costs, restructuring charges (credits), net, loss (gain) on investments, non-GAAP income tax adjustment, and other items detailed under "Supplemental Financial Information" after the tables below and posted to our website at https://ir.logitech.com. Logitech also presents percentage sales growth in constant currency ("cc"), a non-GAAP measure, to show performance unaffected by fluctuations in currency exchange rates. Percentage sales growth in constant currency is calculated by translating prior period sales in each local currency at the current period's average exchange rate for that currency and comparing that to current period sales. Logitech believes this information, used together with the GAAP financial information, will help investors to evaluate its current period performance, outlook and trends in its business. With respect to the Company's outlook for non-GAAP operating income, most of the excluded amounts pertain to events that have not yet occurred and are not currently possible to estimate with a reasonable degree of accuracy. Therefore, no reconciliation to the GAAP amounts has been provided for the first quarter of Fiscal Year 2027 non-GAAP outlook.

Public Dissemination of Certain Information

Recordings of Logitech's earnings videoconferences and certain events Logitech participates in or hosts, with members of the investment community are posted on the company's investor relations website at https://ir.logitech.com. Additionally, Logitech provides notifications of news or announcements regarding its operations and financial performance, including its filings with the Securities and Exchange Commission (SEC), investor events, and press and earnings releases as part of its investor relations website. Logitech intends to use its investor relations website as means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Logitech's corporate governance information also is available on its investor relations website.

About Logitech

Logitech designs software-enabled hardware solutions that help businesses thrive and bring people together when working, creating and gaming. As the point of connection between people and the digital world, our mission is to extend human potential in work and play, in a way that is good for people and the planet. Founded in 1981, Logitech International is a Swiss public company listed on the SIX Swiss Exchange (LOGN) and on the Nasdaq Global Select Market (LOGI). Find Logitech and its other brands, including Logitech G, at www.logitech.com or company blog.

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation, statements regarding: our preliminary financial results for the three months and fiscal year ended March 31, 2026; Q1 FY27 outlook, including for sales and non-GAAP operating income, our strategy, investments, growth expectations, and related assumptions. The forward-looking statements in this press release are subject to risks and uncertainties that could cause actual results and events to differ materially from those anticipated in these forward-looking statements, including, without limitation: macroeconomic and geopolitical conditions and other factors and their impact, for example the resilience of overall consumer demand, B2B and IT spending levels, changes in inflation levels and monetary policies, governments' fiscal policies, government shutdowns, geopolitical conflicts and warfare, and energy and transportation costs; our expectations regarding our expense discipline efforts, including the timing thereof; changes in secular trends that impact our business; if our product offerings, marketing activities and investment prioritization decisions do not result in the sales, profitability or profitability growth we expect, or when we expect it; if we fail to innovate and develop new products in a timely and cost-effective manner for our new and existing product categories; issues relating to development and use of artificial intelligence; if we do not successfully execute on our growth opportunities or our growth opportunities are more limited than we expect; the effect of demand variability, production costs, supply shortages and other supply chain challenges; the effect of logistics challenges, including disruptions in logistics; the effect of pricing, product, marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if we are not able to maintain and enhance our brands; if our products and marketing strategies fail to separate our products from competitors' products; if we do not efficiently manage our spending; our expectations regarding our restructuring efforts, including the timing thereof; if there is a deterioration of business and economic conditions in one or more of our sales regions or product categories, or significant fluctuations in exchange rates; changes in trade regulations, policies and agreements and the imposition of tariffs or other trade restrictions that affect our products or operations and our ability to mitigate; if we do not successfully execute on strategic acquisitions and investments; risks associated with acquisitions; and the effect of changes to our effective income tax rates. A detailed discussion of these and other risks and uncertainties that could cause actual results and events to differ materially from such forward-looking statements is included in Logitech's periodic filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2025, our quarterly report on Form 10-Q for the quarter ended December 31, 2025, and other reports filed with the SEC, available at www.sec.gov, under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update any forward-looking statements to reflect new information or events or circumstances occurring after the date of this press release.

Note that unless noted otherwise, comparisons are year over year.

Logitech and other Logitech marks are trademarks or registered trademarks of Logitech Europe S.A. and/or its affiliates in the U.S. and other countries. All other trademarks are the property of their respective owners. For more information about Logitech and its products, visit the company's website at www.logitech.com.

 
 
LOGITECH INTERNATIONAL S.A. 
PRELIMINARY RESULTS* 
(In thousands, except per share amounts) - unaudited 
 
                             Three Months Ended        Fiscal Years Ended 
                                  March 31,                 March 31, 
                          ------------------------  ------------------------- 
GAAP CONDENSED 
CONSOLIDATED STATEMENTS 
OF OPERATIONS                2026         2025         2026        2025 
-----------------------    ---------    ---------    ---------   --------- 
 
Net sales                 $1,085,523   $1,010,355   $4,840,761  $4,554,900 
Cost of goods sold           601,130      572,334    2,742,407   2,582,745 
Amortization of 
 intangible assets             1,113        2,210        7,017       9,554 
                           ---------    ---------    ---------   --------- 
   Gross profit              483,280      435,811    2,091,337   1,962,601 
                           ---------    ---------    ---------   --------- 
 
Operating expenses: 
   Marketing and selling     214,940      198,598      816,604     814,414 
   Research and 
    development               87,072       79,523      316,221     309,008 
   General and 
    administrative            41,640       40,266      167,160     164,014 
   Amortization of 
    intangible assets 
    and 
    acquisition-related 
    costs                        919        2,630        6,298      10,695 
   Restructuring 
    charges, net               2,914        8,890        9,860       9,615 
                           ---------    ---------    ---------   --------- 
      Total operating 
       expenses              347,485      329,907    1,316,143   1,307,746 
                           ---------    ---------    ---------   --------- 
 
Operating income             135,795      105,904      775,194     654,855 
Interest income               14,204       12,394       48,246      54,997 
Other income (expense), 
 net                            (150)         (91)       3,079      (2,980) 
                           ---------    ---------    ---------   --------- 
Income before income 
 taxes                       149,849      118,207      826,519     706,872 
Provision for (benefit 
 from) income taxes            6,386      (25,859)     115,332      75,343 
                           ---------    ---------    ---------   --------- 
Net income                $  143,463   $  144,066   $  711,187  $  631,529 
                           =========    =========    =========   ========= 
 
Net income per share: 
   Basic                  $     0.99   $     0.97   $     4.85  $     4.17 
   Diluted                $     0.98   $     0.96   $     4.80  $     4.13 
 
Weighted average shares 
used to compute net 
income per share: 
   Basic                     145,384      148,999      146,775     151,322 
   Diluted                   147,002      150,709      148,208     152,784 
 
 
 
LOGITECH INTERNATIONAL S.A. 
PRELIMINARY RESULTS* 
(In thousands, except per share amounts) - unaudited 
 
                                         March 31,      March 31, 
CONDENSED CONSOLIDATED BALANCE SHEETS       2026          2025 
-------------------------------------    ----------    ---------- 
 
Current assets: 
   Cash and cash equivalents            $ 1,741,546   $ 1,503,205 
   Accounts receivable, net                 505,867       454,546 
   Inventories                              489,948       503,747 
   Other current assets                     177,895       131,211 
                                         ----------    ---------- 
      Total current assets                2,915,256     2,592,709 
 
Non-current assets: 
   Property, plant and equipment, net       116,454       113,858 
   Goodwill                                 465,417       463,230 
   Other intangible assets, net              12,386        24,630 
   Other assets                             339,075       344,077 
                                         ----------    ---------- 
      Total assets                        3,848,588     3,538,504 
                                         ==========    ========== 
 
Current liabilities: 
   Accounts payable                     $   530,983   $   414,586 
   Accrued and other current 
    liabilities                             781,990       686,503 
                                         ----------    ---------- 
      Total current liabilities           1,312,973     1,101,089 
 
Non-current liabilities: 
   Income taxes payable                      86,322        88,483 
   Other non-current liabilities            237,899       221,512 
                                         ----------    ---------- 
      Total liabilities                   1,637,194     1,411,084 
 
Shareholders' equity: 
   Registered shares, CHF 0.25 par 
    value Issued shares: 160,784 and 
    168,994 at March 31, 2026 and 
    2025, respectively                       28,001        29,432 
   Additional paid-in capital               123,386        82,591 
   Shares in treasury, at cost 
    Treasury shares: 17,282 and 20,485 
    at March 31, 2026 and 2025, 
    respectively                         (1,207,454)   (1,464,912) 
   Retained earnings                      3,381,278     3,627,261 
   Accumulated other comprehensive 
    loss                                   (113,817)     (146,952) 
                                         ----------    ---------- 
      Total shareholders' equity          2,211,394     2,127,420 
                                         ----------    ---------- 
      Total liabilities and 
       shareholders' equity             $ 3,848,588   $ 3,538,504 
                                         ==========    ========== 
 
 
 
LOGITECH INTERNATIONAL S.A. 
PRELIMINARY RESULTS* 
(In thousands) - unaudited 
 
                          Three Months Ended         Fiscal Years Ended 
                               March 31,                  March 31, 
                       ------------------------  -------------------------- 
CONDENSED 
CONSOLIDATED 
STATEMENTS OF CASH 
FLOWS                     2026         2025         2026         2025 
--------------------    ---------    ---------    ---------    --------- 
 
Cash flows from 
operating 
activities: 
   Net income          $  143,463   $  144,066   $  711,187   $  631,529 
   Adjustments to 
   reconcile net 
   income to net 
   cash provided by 
   operating 
   activities: 
      Depreciation         16,517       15,486       64,139       59,664 
      Amortization of 
       intangible 
       assets               2,032        4,840       13,315       20,098 
      Loss on 
       investments            321          311          612        2,029 
      Share-based 
       compensation 
       expense             25,817       13,846      112,392       89,913 
      Deferred income 
       taxes               23,526       37,891       29,822       56,543 
      Other                   (37)         (10)          28          120 
   Changes in assets 
   and liabilities: 
      Accounts 
       receivable, 
       net                174,379      197,913      (39,436)      69,979 
      Inventories         (44,039)     (12,947)      22,882      (80,501) 
      Other assets         (6,136)      14,554      (36,559)      23,970 
      Accounts 
       payable            (62,793)    (168,475)     109,174      (31,627) 
      Accrued and 
       other 
       liabilities        (70,257)    (117,819)      49,651          840 
                        ---------    ---------    ---------    --------- 
         Net cash 
          provided by 
          operating 
          activities      202,793      129,656    1,037,207      842,557 
                        ---------    ---------    ---------    --------- 
Cash flows from 
investing 
activities: 
   Purchases of 
    property, plant 
    and equipment         (13,839)     (12,788)     (61,562)     (56,128) 
   Purchases of 
    deferred 
    compensation 
    investments            (4,922)        (798)     (10,479)      (6,600) 
   Proceeds from 
    sales of deferred 
    compensation 
    investments             5,590        2,121       11,308        7,079 
   Other investing 
    activities               (458)        (446)      (1,654)      (1,619) 
                        ---------    ---------    ---------    --------- 
         Net cash 
          used in 
          investing 
          activities      (13,629)     (11,911)     (62,387)     (57,268) 
                        ---------    ---------    ---------    --------- 
Cash flows from 
financing 
activities: 
   Payment of cash 
    dividends                  --           --     (233,059)    (207,853) 
   Payment of 
    contingent 
    consideration for 
    business 
    acquisition                --           --           --       (1,245) 
   Purchases of 
    registered 
    shares               (279,559)    (125,516)    (534,939)    (588,838) 
   Proceeds from 
    exercises of 
    stock options and 
    purchase rights        14,148       16,170       38,320       36,405 
   Tax withholdings 
    related to net 
    share settlements 
    of restricted 
    stock units            (2,032)     (10,234)     (21,438)     (32,485) 
   Other financing 
    activities                 --       (1,681)          --       (3,344) 
                        ---------    ---------    ---------    --------- 
         Net cash 
          used in 
          financing 
          activities     (267,443)    (121,261)    (751,116)    (797,360) 
                        ---------    ---------    ---------    --------- 
Effect of exchange 
 rate changes on cash 
 and cash 
 equivalents                2,005        3,889       14,637       (5,566) 
                        ---------    ---------    ---------    --------- 
Net increase 
 (decrease) in cash 
 and cash 
 equivalents              (76,274)         373      238,341      (17,637) 
                        ---------    ---------    ---------    --------- 
Cash and cash 
 equivalents, 
 beginning of the 
 period                 1,817,820    1,502,832    1,503,205    1,520,842 
                        ---------    ---------    ---------    --------- 
Cash and cash 
 equivalents, end of 
 the period            $1,741,546   $1,503,205   $1,741,546   $1,503,205 
                        =========    =========    =========    ========= 
 
 
 
LOGITECH INTERNATIONAL S.A. 
PRELIMINARY RESULTS* 
(In thousands) - unaudited 
 
SUPPLEMENTAL 
FINANCIAL               Three Months Ended                Fiscal Years Ended 
INFORMATION                  March 31,                         March 31, 
                 --------------------------------  -------------------------------- 
NET SALES           2026        2025      Change      2026        2025      Change 
--------------    ---------   ---------  --------   ---------   ---------  -------- 
 
Net sales by 
product 
category: 
Gaming (1)       $  292,312  $  261,807   12%      $1,414,206  $1,338,467     6% 
Keyboards & 
 Combos             224,577     220,626    2          937,551     882,643     6 
Pointing 
 Devices            200,870     185,857    8          858,904     788,784     9 
Video 
 Collaboration      161,395     143,245   13          689,040     626,000    10 
Webcams              76,228      77,948   (2)         326,172     315,520     3 
Tablet 
 Accessories         66,334      57,954   14          336,189     299,540    12 
Headsets             44,866      42,672    5          179,825     179,710    -- 
Other (2)            18,941      20,246   (6)          98,874     124,236   (20) 
                  ---------   ---------             ---------   --------- 
Total Net Sales  $1,085,523  $1,010,355    7%      $4,840,761  $4,554,900     6% 
                  =========   =========             =========   ========= 
 
 
(1) Gaming includes streaming services revenue generated by Streamlabs. 
(2) Other primarily consists of mobile speakers and PC speakers. 
 
 
LOGITECH INTERNATIONAL S.A. 
PRELIMINARY RESULTS* 
(In thousands, except per share amounts) - unaudited 
 
SUPPLEMENTAL 
FINANCIAL                  Three Months Ended            Fiscal Years Ended 
INFORMATION                     March 31,                     March 31, 
                       --------------------------  ------------------------------ 
GAAP TO NON-GAAP 
RECONCILIATION $(A)$       2026          2025           2026            2025 
--------------------    -------       -------       ---------       --------- 
 
Gross profit - GAAP    $483,280      $435,811      $2,091,337      $1,962,601 
Share-based 
 compensation 
 expense                  2,256         1,348          10,631          10,021 
Amortization of 
 intangible assets        1,113         2,210           7,017           9,554 
                        -------       -------       ---------       --------- 
Gross profit - 
 Non-GAAP              $486,649      $439,369      $2,108,985      $1,982,176 
                        =======       =======       =========       ========= 
 
Gross margin - GAAP        44.5%         43.1%           43.2%           43.1% 
Gross margin - 
 Non-GAAP                  44.8%         43.5%           43.6%           43.5% 
 
Operating expenses - 
 GAAP                  $347,485      $329,907      $1,316,143      $1,307,746 
Less: Share-based 
 compensation 
 expense                 23,561        12,498         101,761          79,892 
Less: Amortization of 
 intangible assets 
 and 
 acquisition-related 
 costs                      919         2,630           6,298          10,695 
Less: Restructuring 
 charges, net             2,914         8,890           9,860           9,615 
                        -------       -------       ---------       --------- 
Operating expenses - 
 Non-GAAP              $320,091      $305,889      $1,198,224      $1,207,544 
                        =======       =======       =========       ========= 
 
% of net sales - GAAP      32.0%         32.7%           27.2%           28.7% 
% of net sales - 
 Non-GAAP                  29.5%         30.3%           24.8%           26.5% 
 
Operating income - 
 GAAP                  $135,795      $105,904      $  775,194      $  654,855 
Share-based 
 compensation 
 expense                 25,817        13,846         112,392          89,913 
Amortization of 
 intangible assets 
 and 
 acquisition-related 
 costs                    2,032         4,840          13,315          20,249 
Restructuring 
 charges, net             2,914         8,890           9,860           9,615 
                        -------       -------       ---------       --------- 
Operating income - 
 Non-GAAP              $166,558      $133,480      $  910,761      $  774,632 
                        =======       =======       =========       ========= 
 
% of net sales - GAAP      12.5%         10.5%           16.0%           14.4% 
% of net sales - 
 Non-GAAP                  15.3%         13.2%           18.8%           17.0% 
 
Net income - GAAP      $143,463      $144,066      $  711,187      $  631,529 
Share-based 
 compensation 
 expense                 25,817        13,846         112,392          89,913 
Amortization of 
 intangible assets 
 and 
 acquisition-related 
 costs                    2,032         4,840          13,315          20,249 
Restructuring 
 charges, net             2,914         8,890           9,860           9,615 
Loss on investments         321           311             612           2,029 
Non-GAAP income tax 
 adjustment              (8,868)      (32,225)          9,076         (13,405) 
                        -------       -------       ---------       --------- 
Net income - Non-GAAP  $165,679      $139,728      $  856,442      $  739,930 
                        =======       =======       =========       ========= 
 
Net income per 
share: 
Diluted - GAAP         $   0.98      $   0.96      $     4.80      $     4.13 
Diluted - Non-GAAP     $   1.13      $   0.93      $     5.78      $     4.84 
 
Shares used to 
compute net income 
per share: 
Diluted - GAAP and 
 Non-GAAP               147,002       150,709         148,208         152,784 
 
 
 
LOGITECH INTERNATIONAL S.A. 
PRELIMINARY RESULTS* 
(In thousands) - unaudited 
 
SUPPLEMENTAL 
FINANCIAL          Three Months Ended    Fiscal Years Ended 
INFORMATION             March 31,             March 31, 
                   ------------------  ---------------------- 
SHARE-BASED 
COMPENSATION 
EXPENSE              2026      2025      2026       2025 
----------------    ------    ------    -------    ------- 
 
Share-based 
Compensation 
Expense 
Cost of goods 
 sold              $ 2,256   $ 1,348   $ 10,631   $ 10,021 
Marketing and 
 selling            10,524     6,245     42,506     40,378 
Research and 
 development         5,492     4,331     22,904     20,180 
General and 
 administrative      7,545     1,922     36,351     19,334 
                    ------    ------    -------    ------- 
   Total 
    share-based 
    compensation 
    expense         25,817    13,846    112,392     89,913 
Income tax 
 benefit            (5,101)   (3,247)   (20,721)   (20,148) 
                    ------    ------    -------    ------- 
   Total 
    share-based 
    compensation 
    expense, net 
    of income tax 
    benefit        $20,716   $10,599   $ 91,671   $ 69,765 
                    ======    ======    =======    ======= 
 
 
*Note: These preliminary results for the three months and fiscal year ended 
March 31, 2026 are subject to adjustments, including subsequent events that 
may occur through the date of filing our Annual Report on Form 10-K. 
 

(A) Non-GAAP Financial Measures

To supplement our condensed consolidated financial results prepared in accordance with GAAP, we use a number of financial measures, both GAAP and non-GAAP, in analyzing and assessing our overall business performance, for making operating decisions and for forecasting and planning future periods. We consider the use of non-GAAP financial measures helpful in assessing our current financial performance, ongoing operations and prospects for the future as well as understanding financial and business trends relating to our financial condition and results of operations.

While we use non-GAAP financial measures as a tool to enhance our understanding of certain aspects of our financial performance and to provide incremental insight into the underlying factors and trends affecting both our performance and our cash-generating potential, we do not consider these measures to be a substitute for, or superior to, the information provided by GAAP financial measures. Consistent with this approach, we believe that disclosing non-GAAP financial measures to the readers of our financial statements provides useful supplemental data that, while not a substitute for GAAP financial measures, can offer insight in the review of our financial and operational performance and enable investors to more fully understand trends in our current and future performance. In assessing our business during the quarter and fiscal year ended March 31, 2026 and prior periods presented, we excluded items in the following general categories, each of which are described below:

Share-based compensation expense. We believe that providing non-GAAP measures excluding share-based compensation expense, in addition to the GAAP measures, allows for a more transparent comparison of our financial results from period to period. We prepare and maintain our budgets and forecasts for future periods on a basis consistent with this non-GAAP financial measure. Further, companies use a variety of types of equity awards as well as a variety of methodologies, assumptions and estimates to determine share-based compensation expense. We believe that excluding share-based compensation expense enhances our ability and the ability of investors to understand the impact of non-cash share-based compensation on our operating results and to compare our results against the results of other companies.

Amortization of intangible assets. We incur intangible asset amortization expense, primarily in connection with our acquisitions of various businesses and technologies. The amortization of purchased intangibles varies depending on the level of acquisition activity. We exclude these various charges in budgeting, planning and forecasting future periods and we believe that providing the non-GAAP measures excluding these various non-cash charges, as well as the GAAP measures, provides additional insight when comparing our gross profit, operating expenses, and financial results from period to period.

Acquisition-related costs. We incurred expenses in connection with our acquisitions which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. Acquisition-related costs include certain incremental expenses incurred to effect a business combination. We believe that providing the non-GAAP measures excluding these costs, as well as the GAAP measures, assists our investors because such costs are not reflective of our ongoing operating results.

Restructuring charges (credits), net. These charges (credits) are associated with restructuring plans and will vary based on the initiatives in place during any given period. Restructuring charges may include costs related to employee terminations, facility closures and early cancellation of certain contracts as well as other costs resulting from our restructuring initiatives. We believe that providing the non-GAAP measures excluding these items, as well as the GAAP measures, assists our investors because such charges (credits) are not reflective of our ongoing operating results.

Loss (gain) on investments. We recognize losses (gains) related to our investments in various companies, which vary depending on the operational and financial performance of the companies in which we invest. These amounts include our losses (earnings) on equity method investments as well as investment impairments and losses (gains) resulting from sales or other events related to our investments. We believe that providing the non-GAAP measures excluding these items, as well as the GAAP measures, assists our investors because such losses (gains) are not reflective of our ongoing operations.

Non-GAAP income tax adjustment. Non-GAAP income tax adjustment primarily measures the income tax effect of non-GAAP adjustments excluded above as well as the income tax impact of non-recurring deferred taxes, tax settlements, and other non-routine tax events, the determination of which is based upon the nature of the underlying items.

Each of the non-GAAP financial measures described above, and used in this press release, should not be considered in isolation from, or as a substitute for, a measure of financial performance prepared in accordance with GAAP. Further, investors are cautioned that there are inherent limitations associated with the use of each of these non-GAAP financial measures as an analytical tool. In particular, these non-GAAP financial measures are not based on a comprehensive set of accounting rules or principles and many of the adjustments to the GAAP financial measures reflect the exclusion of items that are recurring and may be reflected in the Company's financial results for the foreseeable future. We compensate for these limitations by providing specific information in the reconciliation included in this press release regarding the GAAP amounts excluded from the non-GAAP financial measures. In addition, as noted above, we evaluate the non-GAAP financial measures together with the most directly comparable GAAP financial information.

Additional Supplemental Financial Information - Constant Currency

In addition, Logitech presents percentage sales growth in constant currency to show performance unaffected by fluctuations in currency exchange rates. Percentage sales growth in constant currency is calculated by translating prior period sales in each local currency at the current period's average exchange rate for that currency and comparing that to current period sales.

(LOGIIR)

View source version on businesswire.com: https://www.businesswire.com/news/home/20260505206276/en/

 
    CONTACT:    Editorial Contacts: 

Kate Beerkens, Director of Investor Relations - ir@logitech.com

Bruno Rodriguez, Head of Corporate Communications - mediarelations@logitech.com

 
 

(END) Dow Jones Newswires

May 05, 2026 16:06 ET (20:06 GMT)

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