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    Logitech Announces Fourth Consecutive Quarter of Sales Growth

    1/28/25 4:05:00 PM ET
    $LOGI
    Computer peripheral equipment
    Technology
    Get the next $LOGI alert in real time by email

    Gaming Sales Near Pandemic-High Levels;

    Company Raises FY 2025 Outlook

    SIX Swiss Exchange Ad hoc announcement pursuant to Art. 53 LR — Logitech International (SIX: LOGN) (NASDAQ:LOGI) today announced financial results for the third quarter of Fiscal Year 2025.

    • Sales were $1.34 billion, up 7 percent in US dollars and 6 percent in constant currency compared to Q3 of the prior year.
    • GAAP gross margin was 42.9 percent, up 90 basis points compared to Q3 of the prior year. Non-GAAP gross margin was 43.2 percent, up 90 basis points compared to Q3 of the prior year.
    • GAAP operating income was $235 million, up 6 percent compared to Q3 of the prior year. Non-GAAP operating income was $266 million, up 7 percent compared to Q3 of the prior year.
    • GAAP earnings per share (EPS) was $1.32, down 15 percent compared to Q3 of the prior year. Non-GAAP EPS was $1.59, up 4 percent compared to Q3 of the prior year.
    • Cash flow from operations was $371 million. The quarter-ending cash balance was $1.5 billion.
    • The Company returned $200 million of cash to shareholders through share repurchases.

    "We're excited to deliver strong, profitable growth once again, in our biggest quarter of the year," said Hanneke Faber, Logitech chief executive officer. "Our growth was driven by our strategic priorities. We delivered superior innovation. Gaming sales were near pandemic-high levels, thanks to an outstanding set of innovations launched ahead of the holidays. We delivered near record sales in our premium Pro Gaming and MX portfolios. Logitech for Business made excellent progress. And our teams fielded effective marketing campaigns and excellent holiday retail execution to drive broad-based geographic progress."

    "Q3 marks another disciplined quarter," said Matteo Anversa, Logitech chief financial officer. "Thanks to our strong operational performance, we again delivered year-over-year expansion of gross margin. While we expect fourth quarter currency headwinds, the strong demand in the third quarter and the continued promotional and operational discipline of our teams give us confidence about the trajectory of our business, and we are increasing our full-year outlook."

    Outlook

    Logitech raised its full-year outlook for Fiscal Year 2025:

     

    Previous FY25 outlook

    New FY25 outlook

    Sales

    $4.39 - $4.47 billion

    $4.54 - $4.57 billion

    Sales growth (in US dollars, year over year)

    2% - 4%

    5.4% - 6.4%

    Sales growth (in constant currency, year over year)

    2% - 4%

    6.2% - 7.1%

    Non-GAAP operating income

    $720 - $750 million

    $755 - $770 million

    Non-GAAP op. inc. growth (year over year)

    3% - 7%

    8% - 10%

    Financial Results Videoconference and Webcast

    Logitech will hold a financial results videoconference to discuss the results for Q3 Fiscal Year 2025 on Tuesday, January 28, 2025 at 1:30 p.m. Pacific Standard Time (PST) and 10:30 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 Q3 Fiscal Year 2025 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 these 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 Fiscal Year 2025 non-GAAP operating income 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, gaming and streaming. 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 U.S. federal securities laws, including, without limitation, statements regarding: our preliminary financial results for the three and nine months ended December 31, 2024, Fiscal Year 2025 outlook for sales and non-GAAP operating income, opportunities for growth, 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 inflation, interest rate and foreign currency fluctuations, changes in fiscal policies, geopolitical conflicts, low economic growth in certain regions, and uncertainty in consumer and enterprise demand; 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 that affect our products or operations, including potential new tariffs that may be imposed on U.S. imports 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, 2024, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, 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 December 31,

     

    Nine months ended December 31,

    GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

     

    Net sales

     

    $

    1,340,294

     

     

    $

    1,255,473

     

     

    $

    3,544,545

     

     

    $

    3,286,980

     

    Cost of goods sold

     

     

    763,403

     

     

     

    726,252

     

     

     

    2,010,411

     

     

     

    1,937,367

     

    Amortization of intangible assets

     

     

    2,450

     

     

     

    2,441

     

     

     

    7,344

     

     

     

    8,569

     

    Gross profit

     

     

    574,441

     

     

     

    526,780

     

     

     

    1,526,790

     

     

     

    1,341,044

     

     

     

     

     

     

     

     

     

     

    Operating expenses:

     

     

     

     

     

     

     

     

    Marketing and selling

     

     

    217,048

     

     

     

    189,175

     

     

     

    615,816

     

     

     

    544,716

     

    Research and development

     

     

    77,973

     

     

     

    72,704

     

     

     

    229,485

     

     

     

    211,822

     

    General and administrative

     

     

    42,117

     

     

     

    39,711

     

     

     

    123,748

     

     

     

    116,546

     

    Amortization of intangible assets and acquisition-related costs

     

     

    2,637

     

     

     

    2,276

     

     

     

    8,065

     

     

     

    8,279

     

    Restructuring charges, net

     

     

    110

     

     

     

    839

     

     

     

    725

     

     

     

    2,562

     

    Total operating expenses

     

     

    339,885

     

     

     

    304,705

     

     

     

    977,839

     

     

     

    883,925

     

     

     

     

     

     

     

     

     

     

    Operating income

     

     

    234,556

     

     

     

    222,075

     

     

     

    548,951

     

     

     

    457,119

     

    Interest income

     

     

    12,176

     

     

     

    12,826

     

     

     

    42,603

     

     

     

    34,508

     

    Other income (expense), net

     

     

    (1,524

    )

     

     

    189

     

     

     

    (2,889

    )

     

     

    (13,827

    )

    Income before income taxes

     

     

    245,208

     

     

     

    235,090

     

     

     

    588,665

     

     

     

    477,800

     

    Provision for (benefit from) income taxes

     

     

    45,061

     

     

     

    (9,594

    )

     

     

    101,202

     

     

     

    33,272

     

    Net income

     

    $

    200,147

     

     

    $

    244,684

     

     

    $

    487,463

     

     

    $

    444,528

     

     

     

     

     

     

     

     

     

     

    Net income per share:

     

     

     

     

     

     

     

     

    Basic

     

    $

    1.33

     

     

    $

    1.57

     

     

    $

    3.20

     

     

    $

    2.82

     

    Diluted

     

    $

    1.32

     

     

    $

    1.55

     

     

    $

    3.18

     

     

    $

    2.80

     

     

     

     

     

     

     

     

     

     

    Weighted average shares used to compute net income per share:

     

     

     

     

     

     

     

     

    Basic

     

     

    150,647

     

     

     

    155,933

     

     

     

    152,127

     

     

     

    157,568

     

    Diluted

     

     

    151,895

     

     

     

    157,440

     

     

     

    153,506

     

     

     

    158,843

     

    LOGITECH INTERNATIONAL S.A.

     

     

     

     

    PRELIMINARY RESULTS*

     

     

     

     

    (In thousands, except per share amounts) - unaudited

     

     

     

     

     

     

     

     

     

     

     

    December 31,

     

    March 31,

    CONDENSED CONSOLIDATED BALANCE SHEETS

     

     

    2024

     

     

     

    2024

     

     

     

     

     

     

    Current assets:

     

     

     

     

    Cash and cash equivalents

     

    $

    1,502,832

     

     

    $

    1,520,842

     

    Accounts receivable, net

     

     

    648,230

     

     

     

    541,715

     

    Inventories

     

     

    483,569

     

     

     

    422,513

     

    Other current assets

     

     

    139,523

     

     

     

    146,270

     

    Total current assets

     

     

    2,774,154

     

     

     

    2,631,340

     

     

     

     

     

     

    Non-current assets:

     

     

     

     

    Property, plant and equipment, net

     

     

    109,547

     

     

     

    116,589

     

    Goodwill

     

     

    461,183

     

     

     

    461,978

     

    Other intangible assets, net

     

     

    29,161

     

     

     

    44,603

     

    Other assets

     

     

    357,515

     

     

     

    350,194

     

    Total assets

     

    $

    3,731,560

     

     

    $

    3,604,704

     

     

     

     

     

     

    Current liabilities:

     

     

     

     

    Accounts payable

     

    $

    578,951

     

     

    $

    448,627

     

    Accrued and other current liabilities

     

     

    715,267

     

     

     

    637,262

     

    Total current liabilities

     

     

    1,294,218

     

     

     

    1,085,889

     

     

     

     

     

     

    Non-current liabilities:

     

     

     

     

    Income taxes payable

     

     

    129,497

     

     

     

    112,572

     

    Other non-current liabilities

     

     

    205,027

     

     

     

    172,590

     

    Total liabilities

     

     

    1,628,742

     

     

     

    1,371,051

     

     

     

     

     

     

    Shareholders' equity:

     

     

     

     

    Registered shares, CHF 0.25 par value

    Issued shares: 168,994 and 173,106 at December 31, 2024 and March 31, 2024, respectively

     

     

    29,432

     

     

     

    30,148

     

    Additional paid-in capital

     

     

    95,162

     

     

     

    63,524

     

    Shares in treasury, at cost — 19,555 and 19,243 at December 31, 2024 and March 31, 2024, respectively

     

     

    (1,381,949

    )

     

     

    (1,351,336

    )

    Retained earnings

     

     

    3,494,495

     

     

     

    3,602,519

     

    Accumulated other comprehensive loss

     

     

    (134,322

    )

     

     

    (111,202

    )

    Total shareholders' equity

     

     

    2,102,818

     

     

     

    2,233,653

     

    Total liabilities and shareholders' equity

     

    $

    3,731,560

     

     

    $

    3,604,704

     

    LOGITECH INTERNATIONAL S.A.

     

     

     

     

     

     

     

     

    PRELIMINARY RESULTS*

     

     

     

     

     

     

     

     

    (In thousands) - unaudited

     

     

     

     

     

     

     

     

     

     

    Three months ended December 31,

     

    Nine months ended December 31,

    CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

     

    Cash flows from operating activities:

     

     

     

     

     

     

     

     

    Net income

     

    $

    200,147

     

     

    $

    244,684

     

     

    $

    487,463

     

     

    $

    444,528

     

    Adjustments to reconcile net income to net cash provided by operating activities:

     

     

     

     

     

     

     

     

    Depreciation

     

     

    15,075

     

     

     

    14,739

     

     

     

    44,178

     

     

     

    48,874

     

    Amortization of intangible assets

     

     

    5,087

     

     

     

    5,074

     

     

     

    15,258

     

     

     

    16,583

     

    Loss on investments

     

     

    119

     

     

     

    604

     

     

     

    1,718

     

     

     

    12,213

     

    Share-based compensation expense

     

     

    26,193

     

     

     

    20,613

     

     

     

    76,067

     

     

     

    64,192

     

    Deferred income taxes

     

     

    2,163

     

     

     

    (20,623

    )

     

     

    18,652

     

     

     

    (9,515

    )

    Other

     

     

    73

     

     

     

    236

     

     

     

    130

     

     

     

    336

     

    Changes in assets and liabilities, net of acquisitions:

     

     

     

     

     

     

     

     

    Accounts receivable, net

     

     

    (46,366

    )

     

     

    (11,424

    )

     

     

    (127,934

    )

     

     

    (46,786

    )

    Inventories

     

     

    26,353

     

     

     

    91,600

     

     

     

    (67,554

    )

     

     

    237,969

     

    Other assets

     

     

    7,175

     

     

     

    (8,301

    )

     

     

    9,416

     

     

     

    3,698

     

    Accounts payable

     

     

    28,472

     

     

     

    32,361

     

     

     

    136,848

     

     

     

    120,383

     

    Accrued and other liabilities

     

     

    106,379

     

     

     

    73,389

     

     

     

    118,659

     

     

     

    13,536

     

    Net cash provided by operating activities

     

     

    370,870

     

     

     

    442,952

     

     

     

    712,901

     

     

     

    906,011

     

    Cash flows from investing activities:

     

     

     

     

     

     

     

     

    Purchases of property, plant and equipment

     

     

    (14,227

    )

     

     

    (10,854

    )

     

     

    (43,340

    )

     

     

    (45,585

    )

    Acquisitions, net of cash acquired

     

     

    —

     

     

     

    —

     

     

     

    —

     

     

     

    (14,138

    )

    Purchases of deferred compensation investments

     

     

    (2,202

    )

     

     

    (5,345

    )

     

     

    (5,802

    )

     

     

    (7,893

    )

    Proceeds from sales of deferred compensation investments

     

     

    2,659

     

     

     

    5,571

     

     

     

    4,958

     

     

     

    8,193

     

    Other investing activities

     

     

    (261

    )

     

     

    (50

    )

     

     

    (1,173

    )

     

     

    (406

    )

    Net cash used in investing activities

     

     

    (14,031

    )

     

     

    (10,678

    )

     

     

    (45,357

    )

     

     

    (59,829

    )

    Cash flows from financing activities:

     

     

     

     

     

     

     

     

    Payment of cash dividends

     

     

    —

     

     

     

    —

     

     

     

    (207,853

    )

     

     

    (182,305

    )

    Payment of contingent consideration for business acquisition

     

     

    —

     

     

     

    —

     

     

     

    (1,245

    )

     

     

    (5,002

    )

    Purchases of registered shares

     

     

    (200,137

    )

     

     

    (187,834

    )

     

     

    (463,322

    )

     

     

    (376,775

    )

    Proceeds from exercises of stock options and purchase rights

     

     

    —

     

     

     

    —

     

     

     

    20,235

     

     

     

    15,319

     

    Tax withholdings related to net share settlements of restricted stock units

     

     

    (1,008

    )

     

     

    (2,372

    )

     

     

    (22,251

    )

     

     

    (28,596

    )

    Other financing activities

     

     

    —

     

     

     

    —

     

     

     

    (1,663

    )

     

     

    (1,116

    )

    Net cash used in financing activities

     

     

    (201,145

    )

     

     

    (190,206

    )

     

     

    (676,099

    )

     

     

    (578,475

    )

    Effect of exchange rate changes on cash and cash equivalents

     

     

    (16,138

    )

     

     

    6,678

     

     

     

    (9,455

    )

     

     

    (4,080

    )

    Net increase (decrease) in cash and cash equivalents

     

     

    139,556

     

     

     

    248,746

     

     

     

    (18,010

    )

     

     

    263,627

     

    Cash and cash equivalents, beginning of the period

     

     

    1,363,276

     

     

     

    1,163,904

     

     

     

    1,520,842

     

     

     

    1,149,023

     

    Cash and cash equivalents, end of the period

     

    $

    1,502,832

     

     

    $

    1,412,650

     

     

    $

    1,502,832

     

     

    $

    1,412,650

     

    LOGITECH INTERNATIONAL S.A.

     

     

     

     

     

     

     

     

     

     

     

     

    PRELIMINARY RESULTS*

     

     

     

     

     

     

     

     

     

     

    (In thousands) - unaudited

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    SUPPLEMENTAL FINANCIAL INFORMATION

     

    Three months ended December 31,

     

    Nine months ended December 31,

    NET SALES

     

     

    2024

     

     

    2023

     

    Change

     

     

    2024

     

     

    2023

     

    Change

     

     

     

     

     

     

     

     

     

     

     

     

     

    Net sales by product category:

     

     

     

     

     

     

     

     

     

     

     

     

    Gaming (1)

     

    $

    466,715

     

    $

    409,043

     

    14

    %

     

    $

    1,076,660

     

    $

    957,576

     

    12

    %

    Keyboards & Combos

     

     

    236,748

     

     

    229,432

     

    3

     

     

     

    662,017

     

     

    605,201

     

    9

     

    Pointing Devices

     

     

    217,045

     

     

    206,180

     

    5

     

     

     

    602,927

     

     

    572,310

     

    5

     

    Video Collaboration

     

     

    176,053

     

     

    169,522

     

    4

     

     

     

    482,755

     

     

    461,257

     

    5

     

    Webcams

     

     

    84,419

     

     

    85,851

     

    (2

    )

     

     

    237,572

     

     

    249,273

     

    (5

    )

    Tablet Accessories

     

     

    77,433

     

     

    64,239

     

    21

     

     

     

    241,586

     

     

    198,252

     

    22

     

    Headsets

     

     

    45,886

     

     

    41,762

     

    10

     

     

     

    137,038

     

     

    123,023

     

    11

     

    Other (2)

     

     

    35,995

     

     

    49,444

     

    (27

    )

     

     

    103,990

     

     

    120,088

     

    (13

    )

    Total Net Sales

     

    $

    1,340,294

     

    $

    1,255,473

     

    7

    %

     

    $

    3,544,545

     

    $

    3,286,980

     

    8

    %

     

     

     

     

     

     

     

     

     

     

     

     

     

    (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 INFORMATION

     

    Three months ended December 31,

     

    Nine months ended December 31,

    GAAP TO NON-GAAP RECONCILIATION (A)

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

     

    Gross profit - GAAP

     

    $

    574,441

     

     

    $

    526,780

     

     

    $

    1,526,790

     

     

    $

    1,341,044

     

    Share-based compensation expense

     

     

    2,173

     

     

     

    2,189

     

     

     

    8,673

     

     

     

    6,066

     

    Amortization of intangible assets

     

     

    2,450

     

     

     

    2,441

     

     

     

    7,344

     

     

     

    8,569

     

    Gross profit - Non-GAAP

     

    $

    579,064

     

     

    $

    531,410

     

     

    $

    1,542,807

     

     

    $

    1,355,679

     

     

     

     

     

     

     

     

     

     

    Gross margin - GAAP

     

     

    42.9

    %

     

     

    42.0

    %

     

     

    43.1

    %

     

     

    40.8

    %

    Gross margin - Non-GAAP

     

     

    43.2

    %

     

     

    42.3

    %

     

     

    43.5

    %

     

     

    41.2

    %

     

     

     

     

     

     

     

     

     

    Operating expenses - GAAP

     

    $

    339,885

     

     

    $

    304,705

     

     

    $

    977,839

     

     

    $

    883,925

     

    Less: Share-based compensation expense

     

     

    24,020

     

     

     

    18,424

     

     

     

    67,394

     

     

     

    58,126

     

    Less: Amortization of intangible assets and acquisition-related costs

     

     

    2,637

     

     

     

    2,276

     

     

     

    8,065

     

     

     

    8,279

     

    Less: Restructuring charges, net

     

     

    110

     

     

     

    839

     

     

     

    725

     

     

     

    2,562

     

    Operating expenses - Non-GAAP

     

    $

    313,118

     

     

    $

    283,166

     

     

    $

    901,655

     

     

    $

    814,958

     

     

     

     

     

     

     

     

     

     

    % of net sales - GAAP

     

     

    25.4

    %

     

     

    24.3

    %

     

     

    27.6

    %

     

     

    26.9

    %

    % of net sales - Non-GAAP

     

     

    23.4

    %

     

     

    22.6

    %

     

     

    25.4

    %

     

     

    24.8

    %

     

     

     

     

     

     

     

     

     

    Operating income - GAAP

     

    $

    234,556

     

     

    $

    222,075

     

     

    $

    548,951

     

     

    $

    457,119

     

    Share-based compensation expense

     

     

    26,193

     

     

     

    20,613

     

     

     

    76,067

     

     

     

    64,192

     

    Amortization of intangible assets and acquisition-related costs

     

     

    5,087

     

     

     

    4,717

     

     

     

    15,409

     

     

     

    16,848

     

    Restructuring charges, net

     

     

    110

     

     

     

    839

     

     

     

    725

     

     

     

    2,562

     

    Operating income - Non-GAAP

     

    $

    265,946

     

     

    $

    248,244

     

     

    $

    641,152

     

     

    $

    540,721

     

     

     

     

     

     

     

     

     

     

    % of net sales - GAAP

     

     

    17.5

    %

     

     

    17.7

    %

     

     

    15.5

    %

     

     

    13.9

    %

    % of net sales - Non-GAAP

     

     

    19.8

    %

     

     

    19.8

    %

     

     

    18.1

    %

     

     

    16.5

    %

     

     

     

     

     

     

     

     

     

    Net income - GAAP

     

    $

    200,147

     

     

    $

    244,684

     

     

    $

    487,463

     

     

    $

    444,528

     

    Share-based compensation expense

     

     

    26,193

     

     

     

    20,613

     

     

     

    76,067

     

     

     

    64,192

     

    Amortization of intangible assets and acquisition-related costs

     

     

    5,087

     

     

     

    4,717

     

     

     

    15,409

     

     

     

    16,848

     

    Restructuring charges, net

     

     

    110

     

     

     

    839

     

     

     

    725

     

     

     

    2,562

     

    Loss on investments

     

     

    119

     

     

     

    604

     

     

     

    1,718

     

     

     

    12,213

     

    Non-GAAP income tax adjustment

     

     

    9,834

     

     

     

    (29,963

    )

     

     

    18,820

     

     

     

    (22,033

    )

    Net income - Non-GAAP

     

    $

    241,490

     

     

    $

    241,494

     

     

    $

    600,202

     

     

    $

    518,310

     

     

     

     

     

     

     

     

     

     

    Net income per share:

     

     

     

     

     

     

     

     

    Diluted - GAAP

     

    $

    1.32

     

     

    $

    1.55

     

     

    $

    3.18

     

     

    $

    2.80

     

    Diluted - Non-GAAP

     

    $

    1.59

     

     

    $

    1.53

     

     

    $

    3.91

     

     

    $

    3.26

     

     

     

     

     

     

     

     

     

     

    Shares used to compute net income per share:

     

     

     

     

     

     

     

     

    Diluted - GAAP and Non-GAAP

     

     

    151,895

     

     

     

    157,440

     

     

     

    153,506

     

     

     

    158,843

     

    LOGITECH INTERNATIONAL S.A.

     

     

     

     

     

     

     

     

    PRELIMINARY RESULTS*

     

     

     

     

     

     

     

     

    (In thousands) - unaudited

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

     

    SUPPLEMENTAL FINANCIAL INFORMATION

     

    Three months ended December 31,

     

    Nine months ended December 31,

    SHARE-BASED COMPENSATION EXPENSE

     

     

    2024

     

     

     

    2023

     

     

     

    2024

     

     

     

    2023

     

     

     

     

     

     

     

     

     

     

    Share-based Compensation Expense

     

     

     

     

     

     

     

     

    Cost of goods sold

     

    $

    2,173

     

     

    $

    2,189

     

     

    $

    8,673

     

     

    $

    6,066

     

    Marketing and selling

     

     

    11,813

     

     

     

    8,878

     

     

     

    34,133

     

     

     

    28,623

     

    Research and development

     

     

    5,043

     

     

     

    4,421

     

     

     

    15,849

     

     

     

    13,568

     

    General and administrative

     

     

    7,164

     

     

     

    5,125

     

     

     

    17,412

     

     

     

    15,935

     

    Total share-based compensation expense

     

     

    26,193

     

     

     

    20,613

     

     

     

    76,067

     

     

     

    64,192

     

    Income tax benefit

     

     

    (4,523

    )

     

     

    (3,391

    )

     

     

    (16,901

    )

     

     

    (11,257

    )

    Total share-based compensation expense, net of income tax benefit

     

    $

    21,670

     

     

    $

    17,222

     

     

    $

    59,166

     

     

    $

    52,935

     

    *Note: These preliminary results for the three and nine months ended December 31, 2024 are subject to adjustments, including subsequent events that may occur through the date of filing our Quarterly Report on Form 10-Q.

    (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 enables investors to more fully understand trends in our current and future performance. In assessing our business during the quarter ended December 31, 2024 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 and credits 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, 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. For the three and nine months ended December 31, 2023, non-GAAP income tax adjustment included the tax benefit from a remeasurement of the tax basis of goodwill under the Swiss Federal Act on Tax Reform and AHV Financing ("TRAF") during the three months ended December 31, 2023.

    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/20250128828957/en/

    Editorial Contacts:

    Kate Beerkens, Director of Investor Relations - [email protected]

    Nicole Kenyon, Head of Global Communications - [email protected] (USA)

    Ben Starkie, Corporate Communications - +41 (0)79-292-3499, [email protected] (Europe/Asia)

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      A Year of Broad-Based Sales Growth, Expanded Market Share and Increased Profitability, Driven by Strategic Priorities 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 2025 ended March 31, 2025. For Fiscal Year 2025: Sales were $4.55 billion, up 6 percent in US dollars and 7 percent in constant currency, compared to the prior year. GAAP operating income was $655 million, up 11 percent compared to the prior year. Non-GAAP operating income was $775 million, up 11 percent compared to the prior year. GAAP earnings per share (EPS) was $4.13, up 7 pe

      4/29/25 4:03:00 PM ET
      $LOGI
      Computer peripheral equipment
      Technology
    • Level Up and Compete: $100K Awaits in the Logitech G x Aimlabs Challenge

      Dodge Sharks, Sharpen Your Skills, Win Big: $100K Up for Grabs in the Logitech G x Aimlabs Showdown! Calling all sharpshooters, trackers, and gamers hungry for a challenge! Logitech G, a brand of Logitech (SIX: LOGN) (NASDAQ:LOGI) and leader in gaming technologies and gear, has teamed up with Aimlabs, the #1 aim trainer trusted by over 40 million players, for the second consecutive year. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250422804496/en/Logitech G has teamed up with Aimlabs, the #1 aim trainer trusted by over 40 million players, for the second consecutive year for a bigger and bolder competition, including over $100

      4/22/25 3:01:00 AM ET
      $LOGI
      Computer peripheral equipment
      Technology

    $LOGI
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

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    • Logitech Int'l SA upgraded by UBS

      UBS upgraded Logitech Int'l SA from Neutral to Buy

      5/7/25 8:34:31 AM ET
      $LOGI
      Computer peripheral equipment
      Technology
    • Logitech Int'l SA upgraded by BofA Securities with a new price target

      BofA Securities upgraded Logitech Int'l SA from Underperform to Neutral and set a new price target of $73.00

      4/4/25 8:25:33 AM ET
      $LOGI
      Computer peripheral equipment
      Technology
    • Logitech Int'l SA upgraded by Wedbush with a new price target

      Wedbush upgraded Logitech Int'l SA from Neutral to Outperform and set a new price target of $125.00

      3/7/25 8:18:23 AM ET
      $LOGI
      Computer peripheral equipment
      Technology

    $LOGI
    Large Ownership Changes

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    • SEC Form SC 13G filed by Logitech International S.A.

      SC 13G - LOGITECH INTERNATIONAL S.A. (0001032975) (Subject)

      2/13/24 2:17:16 PM ET
      $LOGI
      Computer peripheral equipment
      Technology

    $LOGI
    Financials

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    • Logitech Announces Q4 and Full Fiscal Year 2025 Results

      A Year of Broad-Based Sales Growth, Expanded Market Share and Increased Profitability, Driven by Strategic Priorities 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 2025 ended March 31, 2025. For Fiscal Year 2025: Sales were $4.55 billion, up 6 percent in US dollars and 7 percent in constant currency, compared to the prior year. GAAP operating income was $655 million, up 11 percent compared to the prior year. Non-GAAP operating income was $775 million, up 11 percent compared to the prior year. GAAP earnings per share (EPS) was $4.13, up 7 pe

      4/29/25 4:03:00 PM ET
      $LOGI
      Computer peripheral equipment
      Technology
    • Logitech Announces Date for Release of Fourth Quarter and Full-Year Financial Results for FY 2025

      Logitech International (SIX: LOGN) (NASDAQ:LOGI) today announced that it expects to release fourth quarter and Fiscal Year 2025 financial results on Tuesday, April 29, 2025 at 1:00 p.m. Pacific Daylight Time (PDT) and 10:00 p.m. Central European Summer Time (CEST). There will be a videoconference to discuss these results at 1:30 p.m. PDT and 10:30 p.m. CEST on the same day. A livestream of the event will be available on the Logitech corporate website at http://ir.logitech.com. About Logitech Logitech designs software-enabled hardware solutions that help businesses thrive and bring people together when working, creating, gaming and streaming. As the point of connection between people and

      4/7/25 4:05:00 PM ET
      $LOGI
      Computer peripheral equipment
      Technology
    • Logitech Shares Plans to Accelerate Profitable Growth at Analyst & Investor Day

      Company Confirms FY 2025 Outlook, Provides FY 2026 Outlook and Long-Term Financial Model; Accelerates Share Repurchases and Increases Current Buyback Program SIX Swiss Exchange Ad hoc announcement pursuant to Art. 53 LR — Logitech International (SIX: LOGN) (NASDAQ:LOGI), confirmed its financial outlook for Fiscal Year 2025 and provided its outlook for Fiscal Year 2026. Current Fiscal Year 2025 outlook: Logitech confirmed its current Fiscal Year 2025 outlook of between $4.54 billion and $4.57 billion in net sales, representing year-over-year sales growth of 5.4% and 6.4% in US dollars, and 6.2% to 7.1% in constant currency. Logitech also confirmed its outlook for FY 2025 non-GAAP operatin

      3/5/25 6:25:00 PM ET
      $LOGI
      Computer peripheral equipment
      Technology

    $LOGI
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

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    • Director Gecht Guy bought $202,800 worth of Registered Shares (2,500 units at $81.12), increasing direct ownership by 16% to 18,503 units (SEC Form 4)

      4 - LOGITECH INTERNATIONAL S.A. (0001032975) (Issuer)

      10/28/24 9:00:09 AM ET
      $LOGI
      Computer peripheral equipment
      Technology
    • Boynton Charles D bought $99,560 worth of Registered Shares (1,225 units at $81.27) (SEC Form 4)

      4 - LOGITECH INTERNATIONAL S.A. (0001032975) (Issuer)

      5/3/24 5:09:33 PM ET
      $LOGI
      Computer peripheral equipment
      Technology