Logitech International S.a. · SIX:LOGN
Logitech International — Q2 2027 Earnings Presentation
23 slides from Logitech International's earnings presentation, Oct 27, 2026
Slide 1: Q2 2027 Shareholder Letter
Q2 2027 Shareholder Letter October 27, 2026
Slide 2: Q2 FY27 Highlights
Q2 FY27 Highlights Net Sales $1,219M $1,186M Q2 FY27 net sales were $1.22 billion, +3% y/y (US$) up 2% (cc) versus Q2 FY26. Net +2% y/y (cc) sales grew across five of seven core Q2 FY26 Q2 FY27 categories¹, with market share gains in Pointing Devices, GAAP Gross Margin Keyboards & Combos, Gaming Mic
Slide 3: Dear Logitech Shareholder
Logitech co-founders Daniel Borel, Pierluigi Zappacosta and Giacomo Marini: Recreating 45 years of innovation (1990 vs. 2026). Dear Logitech Shareholder, Q2 was a memorable quarter as we celebrated our 45th anniversary alongside our three founders, employees worldwide, and key stakeholders who contr
Slide 4: Superior Products & Innovation, Doubling Down on B2B, Operational Excellence
The quarter's strong performance was driven by our strategic priorities and operational excellence: Superior Products & Innovation Our innovation engine continues to accelerate, supported by the incremental R&D investments initiated in FY27. In September, the Company unveiled 15 new premium gaming p
Slide 5: Q2 FY27 Results
Q2 FY27 Results Q2 FY27 net sales were $1.22 billion, up 2% in constant currency compared to the prior year, driven by Gaming, Video Collaboration, Keyboards & Combos and Pointing Devices, partially offset by Tablet Accessories and Webcams. By region, the Americas continued its momentum with 13% gro
Slide 6: Q3 Fiscal Year 2027 Outlook
Q3 Fiscal Year 2027 Outlook As we previously communicated, one of our semiconductor suppliers had a serious incident in its manufacturing facility, resulting in its closure at the end of June. The facility opened in September and began ramping up production. While the facility’s current capacity is
Slide 7: What's new from Logitech
What’s new from Logitech Logitech G: Fifteen New Products at Logitech G PLAY 2026 At Logitech G PLAY 2026, Logitech G unveiled fifteen new products across esports, sim racing, PC gaming and creator gear. The lineup includes the next generation of our PRO Series, developed alongside professional espo
Slide 8: Sustainability
Sustainability Logitech published its Sustainability Databook 1. This document is a comprehensive and transparent overview of our non-financial performance. It includes data tables and methodology overviews across key ESG metrics, showcasing key initiatives and highlighting our basis of reporting fo
Slide 9: Financial Discussion
Financial Discussion Q2 FY27 Results For Q2, net sales in constant currency increased 2% year over year to $1.22 billion, driven by Gaming, Video Collaboration, Keyboards & Combos and Pointing Devices, partially offset by Tablet Accessories and Webcams. Non-GAAP gross margin of 45.2% and non-GAAP op
Slide 10: Revenue by Product Category
Financial Discussion Revenue by Product Category $M Q2 FY27 Q2 FY26 Y/Y (US$) Y/Y (CC) Gaming1 349 323 8% 7% Keyboards & Combos 246 236 4% 4% Pointing Devices 230 221 4% 4% Video Collaboration 188 168 12% 12% Webcams 76 83 (9%) (10%) Tablet Accessories 58 85 (32%) (30%) Headsets 46 43 6% 5% Other2 2
Slide 11: Product category commentary
Gaming Webcams Gaming net sales grew 7% (cc) year over year, led by new products Webcam net sales declined 10% (cc) year over year. Logitech and the continued strength of PRO X2 Superstrike mouse. gained share despite the net sales decline. Logitech gained share in Gaming Mice as sales for the quart
Slide 12: Net Retail Sales by Region
Net Retail Sales by Region In Q2, Americas net sales grew, and EMEA and Asia Pacific net sales declined year over year: Americas EMEA Asia Pacific Net sales in the Americas grew 13% (cc) Net sales in EMEA declined 6% (cc) year Asia Pacific net sales declined 2% (cc), year over year, driven by a resi
Slide 13: Non-GAAP Gross Margin
Non-GAAP Gross Margin Non-GAAP gross margin was very strong at 45.2%, due to lower tariff costs, supported by manufacturing diversification, as well as favorable product mix and currency exchange rates, partially offset by higher logistics costs. Quarterly Non-GAAP Gross Margin 49.8% 44.8% 45.2% 43.
Slide 14: Non-GAAP Operating Expenses
Non-GAAP Operating Expenses Non-GAAP operating expenses were $320 million in the quarter, up 10% year over year, reflecting continued investment in Sales & Marketing and R&D. $M Q2 FY27 Non-GAAP Q2 FY26 Non-GAAP Y/Y Non-GAAP Operating Expenses 320 290 10% % of sales 26.3% 24.4% +190 bps Sales & Mark
Slide 15: Profitability
Profitability GAAP operating income was $201 million, up 5% year over year; GAAP operating margin was 16.5%, up approximately 40 basis points versus 16.1% in Q2 FY26. Q2 diluted GAAP EPS was $1.25, up 9%. Non-GAAP operating income was $231 million, up slightly year over year; non-GAAP operating marg
Slide 16: Balance Sheet and Cash Flows
Balance Sheet and Cash Flows Cash flow from operations was $164 million in Q2, down $65 million year over year, primarily driven by increased inventory and higher accounts receivable, partially offset by cash receipt of the tariff refunds recognized in our Q1 FY27 earnings. We returned a total of $4
Slide 17: Forward-Looking Statements
Forward-Looking Statements This presentation includes 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, 2026; our Q3 FY27 outlook; g
Slide 18: Non-GAAP Financial Measures
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 forecasting and plann
Slide 19: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation LOGITECH INTERNATIONAL S.A. PRELIMINARY RESULTS* (In thousands) Unaudited Supplemental Financial Information GAAP to non-GAAP reconciliation(A) Three months ended September Six months ended September 2026 2025 2026 2025 Gross profit - GAAP $547,033 $514,456 $1,154,973
Slide 20: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation LOGITECH INTERNATIONAL S.A. PRELIMINARY RESULTS* (In thousands, except per share amounts) Unaudited Supplemental Financial Information GAAP to non-GAAP reconciliation(A) Three months ended September Six months ended September 2026 2025 2026 2025 Operating income - GAA
Slide 21: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation LOGITECH INTERNATIONAL S.A. PRELIMINARY RESULTS* (In thousands) Unaudited Supplemental Financial Information GAAP to non-GAAP reconciliation(A) Q2’26 Q3’26 Q4’26 Q1’27 Q2’27 Gross profit - GAAP $514,456 $614,639 $483,280 $607,940 $547,033 Share-based compensation expe
Slide 22: Defining "Sell-Through"
Defining “Sell-Through” Measures sales of our products by retailer customers to consumers and by our distributor customers to their customers Compiled by Logitech from data supplied by our customers Customers supplying sell-through data vary by geographic region and from period to period, but typica
Slide 23: www.logitech.com
www.logitech.com EPFL — Quartier de l’Innovation Daniel Borel Innovation Center CH — 1015 Lausanne, Switzerland
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