Slide 1: Q1 2026 Shareholder Letter
Q1 2026 Shareholder Letter July 29, 2025
Slide 2: Q1 FY26 Highlights
Q1 FY26 Highlights Net Sales $1,148M $1,088M Q1 FY26 net sales were $1.15 billion, up 5% (cc) versus Q1 FY25. We grew +5% y/y (cc) Q1 FY25 Q1 FY26 in all our key categories and gained market share in Pointing Devices, GAAP Gross Margin Tablet Accessories, Non-Gaming PC 42.8% 41.7% Headsets, and Cons
Slide 3: Dear Logitech Shareholder
Dear Logitech Shareholder, We delivered a strong first quarter with net sales increasing by 5% in constant currency, and increasing non-GAAP operating income by 11% year over year, underscoring the resilience of our business in a challenging environment and the effectiveness of our strategies in dri
Slide 4: Cost discipline
Cost discipline Non-GAAP gross margin remained robust at 42.1%, highlighting our continued dedication to cost reduction. We also drove non- GAAP operating expenses down 2% year over year, led by reducing General & Administrative expenses (G&A) by 8%. As a result, non-GAAP operating expenses as a per
Slide 5: Q1 FY26 results
Q1 FY26 results The first quarter results of FY26 were strong. Net sales in constant currency grew by 5% year over year, to $1.15 billion. All of our key categories grew in the quarter. By region, net sales growth was led by a notable increase in year-over-year growth in Asia Pacific, followed by EM
Slide 6: Q2 Fiscal Year 2026 outlook
Q2 Fiscal Year 2026 outlook Despite continued uncertainties in the operating environment, we are providing a financial outlook for the second quarter of FY26. The midpoint of the outlook calls for continued top line growth and healthy margins. Q2 FY26 Outlook ($ millions) Q2 FY26 Outlook Net sales $
Slide 7: What's new from Logitech
What’s new from Logitech Logitech G: G522 Wireless Gaming Headset Logitech G introduced the G522 Gaming Headset, the newest addition to the award-winning G5 series, designed to deliver top-tier performance, comfort, and connectivity for gamers. Combining advanced audio technology, a refined design,
Slide 8: Sustainability
Sustainability Earlier this year, Logitech was recognized on the prestigious CDP Climate A List 2024 for the first time. CDP is an international non-profit organization that supports environmental disclosure. This quarter, we were also recognized as a CDP Supplier Engagement Leader for 2024.1 1 http
Slide 9: Financial Discussion
Financial Discussion Q1 FY26 Results For Q1, net sales in constant currency increased by 5% to $1.15 billion year over year, driven by strong demand in both consumer and enterprise. Both non-GAAP gross margin (42.1%) and non-GAAP operating margin (17.6%) were solid in Q1, reflecting strong operation
Slide 10: Video Collaboration, Gaming, Tablet Accessories, Webcams
Gaming Tablet Accessories Net sales in our Tablet Accessories category increased by Gaming net sales grew by 2% (cc) year over year, driven by 15% (cc) year over year, supported by the launch of the new strong performance in the PC Gaming category. Sales iPad Air and iPad Pro models. Robust sales of
Slide 11: Net Retail Sales by Region
Net Retail Sales by Region Asia Pacific and EMEA net sales grew while the Americas declined year over year: Americas EMEA Asia Pacific Net Sales in our Americas region Net Sales in our EMEA region increased Net Sales in our Asia Pacific region declined by 4% (cc) year over year. by 9% (cc) year over
Slide 12: Non-GAAP Gross Margin and Operating Expenses
Non-GAAP Gross Margin Q1 FY26 non-GAAP gross margin was 42.1%, down 120 basis points versus Q1 FY25, due to negative impacts from tariffs, higher promotional spend and a release in inventory reserves recorded in the prior year. These were partially offset by positive impacts of price increases in No
Slide 13: Profitability
Profitability GAAP operating income in Q1 was $162 million, up 6% year over year. GAAP operating margin in Q1 was 14.1%, unchanged from last year. Our Q1 diluted GAAP EPS was $0.98, up 7%. Non-GAAP operating income in Q1 was $202 million, up 11% year over year. Non-GAAP operating margin in Q1 was 17
Slide 14: Balance Sheet and Cash Flows; Share count and repurchases
Balance Sheet and Cash Flows At the end of Q1, our cash and cash equivalents were $1.5 Accounts receivable was $637 million, up 8% versus last billion, down $47 million from the prior year. Cash flow from year on growing net sales. Accounts payable of $550 operations was positive $125 million in Q1,
Slide 15: 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 months ended June 30, 2025; Q2 FY26 outlook, including for net
Slide 16: 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 17: GAAP to Non-GAAP Reconciliation: Operating expense
GAAP to Non-GAAP Reconciliation LOGITECH INTERNATIONAL S.A. PRELIMINARY RESULTS* (In thousands) Unaudited Supplemental Financial Information (A) GAAP to non-GAAP reconciliation Three months ended June 30 2025 2024 Gross profit - GAAP $478,962 $466,258 Share-based compensation expense 2,380 2,598 Amo
Slide 18: GAAP to Non-GAAP Reconciliation: Operating income and net income
GAAP to Non-GAAP Reconciliation LOGITECH INTERNATIONAL S.A. PRELIMINARY RESULTS* Supplemental Financial Information (A) GAAP to non-GAAP reconciliation Three months ended June 30 2025 2024 Operating income - GAAP $162,094 $153,499 Share-based compensation expense 32,828 23,405 Amortization of intang
Slide 19: GAAP to Non-GAAP Reconciliation: Gross profit by quarter
GAAP to Non-GAAP Reconciliation LOGITECH INTERNATIONAL S.A. PRELIMINARY RESULTS* (In thousands) Unaudited Supplemental Financial Information (A) GAAP to non-GAAP reconciliation Q1’25 Q2’25 Q3’25 Q4’25 Q1’26 Gross profit - GAAP $466,258 $486,091 $574,441 $435,811 $478,962 Share-based compensation exp
Slide 20: www.logitech.com
www.logitech.com EPFL — Quartier de l'Innovation Daniel Borel Innovation Center CH — 1015 Lausanne, Switzerland