Logitech International S.a. · SIX:LOGN
Logitech International — Q3 2025 Earnings Presentation
21 slides from Logitech International's earnings presentation, Jan 28, 2025
Slide 1: Q3 2025 Shareholder Letter
Q3 2025 Shareholder Letter January 28, 2025
Slide 2: Q3 FY25 Highlights
Q3 FY25 Highlights Net Sales $1,255M $1,340M +6% y/y (cc) Q3 FY25 net sales were $1.34 Q3 FY24 Q3 FY25 billion, up 6% year over year in GAAP Gross Margin constant currency, versus Q3 42.9% FY24. We gained market share 42.0% in Pointing Devices, Webcams, PC Headsets, and Console +90 basis Gaming Head
Slide 3: Dear Logitech Shareholder
Dear Logitech Shareholder, The third quarter of our 2025 Fiscal Year continued to see strong results. We delivered robust year-over-year topline growth for the fourth consecutive quarter, and year-over-year expansion of non-GAAP gross margin for the fifth consecutive quarter. The success of this hol
Slide 4: Doubling Down on B2B
Doubling Down on B2B We have made significant strides in strengthening our B2B offerings. Our inovation on smart office tools, including enhanced workplace room booking solutions, resonated with businesses across various sectors. And progress was evident in the quarter's solid results in Video Colla
Slide 5: Q3 FY25 results
Q3 FY25 results Our third quarter reflects continued momentum across our product portfolio, with a fourth consecutive quarter of year-over-year topline growth and our fifth quarter of year-over-year non-GAAP gross margin expansion. Overall, net sales grew by 6% year over year in constant currency, t
Slide 6: Fiscal Year 2025 outlook
Fiscal Year 2025 outlook Our third quarter results reflect topline momentum in our business across our product portfolio, our geographies and our customer channels, all while generating increased profits. As a result of this momentum, we are increasing our FY25 outlook on both the top and bottom lin
Slide 7: What’s new from Logitech
What’s new from Logitech Pro Gaming: PRO X TKL RAPID Keyboard Logitech G's PRO X TKL RAPID keyboard began its global rollout in December 2024. This magnetic analog keyboard was developed in collaboration with the world’s top esports athletes. The PRO X TKL RAPID features adjustable actuation points
Slide 8: Sustainability
Sustainability Logitech was named to the Dow Jones Sustainability Europe Index (DJSI) for the fifth consecutive year. The DJSI Europe recognizes outstanding performance in advancing Environmental, Social, and Governance (ESG) criteria, a benchmark for global sustainability leadership. Our advancemen
Slide 9: Financial Discussion
Financial Discussion Q3 FY25 Results Net sales increased by 6% in constant currency to $1.34 billion year over year, driven by improving demand. We gained market share in Pointing Devices, Webcams, PC Headsets, and Console Gaming Headsets1. Both non-GAAP gross margin of 43.2% and non-GAAP operating
Slide 10: Gaming, Video Collaboration, Personal Workspace Solutions
Gaming Video Collaboration Gaming sales increased 13% (cc) in Q3, as PC Gaming Video Collaboration sales increased 3% (cc) in Q3, driven delivered a fifth consecutive quarter of growth. Simulation is by a combination of solid growth in Video Conferencing up double digits for four consecutive quarter
Slide 11: Net Retail Sales by Region
Net Retail Sales by Region For the fourth consecutive quarter, sales grew in all three regions in constant currency. Americas EMEA Asia Pacific Sales in the Americas region were up 4% Sales in the EMEA region were up 6% Sales in the Asia Pacific region (cc) in Q3. For the fifth consecutive (cc) in Q
Slide 12: Non-GAAP Gross Margin and Operating Expenses
Non-GAAP Gross Margin Q3 FY25 non-GAAP gross margin was 43.2%, up 90 basis points versus Q3 FY24, reflecting lower product costs, partially offset by higher promotional spending. Quarterly Non-GAAP Gross Margin 44.1% 43.6% 43.2% 43.3% 42.3% Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Non-GAAP Operating
Slide 13: Profitability
Profitability GAAP operating income in Q3 was $235 million, up 6% year over year. GAAP operating margin in Q3 was 17.5%, versus 17.7% last year, down 20 basis points. Q3 diluted GAAP EPS was $1.32, down 15% year-over-year primarily due to discrete tax benefits in the prior year. The increases in GAA
Slide 14: Balance Sheet and Cash Flows
Balance Sheet and Cash Flows At the end of Q3, cash and cash equivalents were $1.5 billion, Accounts receivable were $648 million, down 5% versus last up $90 million from the prior year. Year to date, we generated year, reflecting improved linearity. Accounts payable were operating cash flow of $713
Slide 15: Fiscal Year 2025 Outlook
Fiscal Year 2025 Outlook Looking ahead to the remainder of FY25, we anticipate full-year net sales between $4.54 billion and $4.57 billion. Non-GAAP operating income is expected to be between $755 million and $770 million. FY25 Outlook Previous FY25 Outlook New FY25 Outlook Net sales $4.39B - $4.47B
Slide 16: 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 nine months ended December 31, 2024; Fiscal Year 2025 outlo
Slide 17: 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 18: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation LOGITECH INTERNATIONAL S.A. PRELIMINARY RESULTS* Supplemental Financial Information GAAP to non-GAAP reconciliation (A) Three months ended Dec 31 Nine months ended Dec 31 2024 2023 2024 2023 Gross profit - GAAP $574,441 $526,780 $1,526,790 $1,341,044 Share-based compe
Slide 19: GAAP to Non-GAAP Reconciliation
GAAP to Non-GAAP Reconciliation LOGITECH INTERNATIONAL S.A. PRELIMINARY RESULTS* Supplemental Financial Information GAAP to non-GAAP reconciliation (A) Three months ended Dec 31 Nine months ended Dec 31 2024 2023 2024 2023 Operating income - GAAP $234,556 $222,075 $548,951 $457,119 Share-based compe
Slide 20: GAAP to Non-GAAP Reconciliation, Sell-through data
GAAP to Non-GAAP Reconciliation LOGITECH INTERNATIONAL S.A. PRELIMINARY RESULTS* Supplemental Financial Information GAAP to non-GAAP reconciliation (A) Q2’24 Q3’24 Q4’24 Q1’25 Q2’25 Q3’25 Gross profit - GAAP $438,622 $526,780 $436,977 $466,258 $486,091 $574,441 Share-based compensation expense 2,462
Slide 21: www.logitech.com
www.logitech.com EPFL — Quartier de l'Innovation Daniel Borel Innovation Center CH — 1015 Lausanne, Switzerland
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