Operational Excellence and Strategic Priorities Drive Strong Second Quarter

LAUSANNE, Switzerland & SAN JOSE, Calif.--(BUSINESS WIRE)--October 28, 2025-- 

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

   --  Sales were $1.19 billion, up 6 percent in US dollars and 4 percent in 
      constant currency compared to Q2 of the prior year. 
 
   --  GAAP gross margin was 43.4 percent, down 20 basis points compared to Q2 
      of the prior year. Non-GAAP gross margin was 43.8 percent, down 30 basis 
      points compared to Q2 of the prior year. 
 
   --  GAAP operating income was $191 million, up 19 percent compared to Q2 of 
      the prior year. Non-GAAP operating income was $230 million, up 19 percent 
      compared to Q2 of the prior year. 
 
   --  GAAP earnings per share (EPS) was $1.15, up 21 percent compared to Q2 
      of the prior year. Non-GAAP EPS was $1.45, up 21 percent compared to Q2 
      of the prior year. 
 
   --  Cash flow from operations was $229 million. The quarter-ending cash 
      balance was $1.4 billion. 
 
   --  The Company returned $340 million to shareholders through its annual 
      dividend payment and share repurchases. 

"We delivered another strong quarter, driving growth and excellent profitability through our strategic priorities," said Hanneke Faber, Logitech chief executive officer. "We continue to demonstrate resilience in a challenging environment. In the quarter, we announced 16 new products, including the much-anticipated MX Master 4 mouse and a wide array of new Gaming products. We executed well across all regions, and saw strong demand growth across both B2B and consumer channels."

"This quarter, our teams delivered outstanding operating income growth and continued to drive robust gross margins, thanks to disciplined operational execution and cost controls," said Matteo Anversa, Logitech chief financial officer. "This strong performance shows our guiding principles in action, as we play offense, manage costs and remain agile in an uncertain environment."

Outlook

Our financial outlook for the third quarter of FY26 reflects a pragmatic balance between the strong momentum of our business and the litany of uncertainties within the global economy:

 
                                                     Q3 FY26 outlook 
Sales                                                $1,375 - $1,415 million 
Sales growth (in US dollars, year over year)         3% - 6% 
Sales growth (in constant currency, year over year)  1% - 4% 
Non-GAAP operating income                            $270 - $290 million 
 

Financial Results Videoconference and Webcast

Logitech will hold a financial results videoconference to discuss the results for Q2 Fiscal Year 2026 on Tuesday, October 28, 2025 at 1:30 p.m. Pacific Daylight Time $(PDT)$ and 09:30 p.m. Central European Time $(CET)$.

A livestream of the event will be available on the Logitech corporate website at https://ir.logitech.com. This press release and the Q2 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 third quarter of Fiscal Year 2026 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 and six months ended September 30, 2025; Q3 FY26 outlook, including for net sales and non-GAAP operating income, growth expectations, and related assumptions. The forward-looking statements in this press release are subject to risks and uncertainties that could cause Logitech's 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, and geopolitical conflicts; 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, 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 Securities and Exchange Commission ("SEC"), including our Annual Report on Form 10-K for the fiscal year ended March 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.

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