Logitech Announces Q3 Fiscal Year 2026 Results

Key Terms

non-gaap financial

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

gaap financial

GAAP, or Generally Accepted Accounting Principles, are a set of standardized rules and guidelines that companies follow when preparing their financial statements. They ensure consistency, transparency, and comparability across different companies, making it easier for investors to understand and compare financial information accurately. This helps investors make informed decisions based on trustworthy and uniform financial reports.

constant currency financial

Constant currency is a way of measuring financial results that removes the effects of changes in currency exchange rates. It allows for a clearer comparison of a company's performance over time by showing what the numbers would look like if exchange rates had stayed the same. This helps investors understand whether growth comes from actual business improvements or just currency fluctuations.

basis points financial

Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.

cash flow from operations financial

Cash flow from operations is the money a company actually generates from its core business activities—sales, services and day-to-day operations—after paying routine costs like wages and suppliers. Investors watch it like a company’s operating “paycheck” because it shows whether the business can fund growth, pay debts and return cash to shareholders without relying on loans or one-time asset sales; steady positive cash flow is a sign of financial health.

regulation fd regulatory

Regulation FD is a rule that prevents company insiders, like executives, from sharing important information with some people before others get it. It matters because it helps ensure all investors have equal access to key news, making the stock market fairer and reducing chances of insider trading.

Strong Financial Performance Driven By Strategic Priorities and Operational Discipline

LAUSANNE, Switzerland & SAN JOSE, Calif.--(BUSINESS WIRE)-- 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 2026.

• Sales were $1.42 billion, up 6 percent in US dollars and 4 percent in constant currency compared to Q3 of the prior year.
• GAAP gross margin was 43.2 percent, up 30 basis points compared to Q3 of the prior year. Non-GAAP gross margin was 43.5 percent, up 30 basis points compared to Q3 of the prior year.
• GAAP operating income was $286 million, up 22 percent compared to Q3 of the prior year. Non-GAAP operating income was $312 million, up 17 percent compared to Q3 of the prior year.
• GAAP earnings per share (EPS) was $1.69, up 28 percent compared to Q3 of the prior year. Non-GAAP EPS was $1.93, up 21 percent compared to Q3 of the prior year.
• Cash flow from operations was $481 million. The quarter-ending cash balance was $1.8 billion.

“We delivered another quarter of excellent financial performance,” said Hanneke Faber, Logitech chief executive officer. “Growth was broad-based across categories, regions and both consumer and business channels. We continued to drive superior innovation with iconic new products like the premium MX Master 4 mouse. And, with the exception of pandemic peaks, we drove record operating income despite tariff headwinds, underscoring the quality of our portfolio, the strength of our innovation and our unique global operational capabilities.”

“Our team’s excellent operational execution and disciplined cost management delivered outstanding gross and operating margins,” said Matteo Anversa, Logitech chief financial officer. “This is a strong performance in our biggest quarter of the year, in spite of the ongoing uncertain environment.”

Outlook

Our financial outlook for the fourth quarter of Fiscal Year 2026 is:

	Q4 FY26 outlook	FY26 outlook
Sales	$1,070 - $1,090 million	$4,825 - $4,845 million
Sales growth (in US dollars, year over year)	6% - 8%	Approximately 6%
Sales growth (in constant currency, year over year)	3% - 5%	Approximately 4%
Non-GAAP operating income	$155 - $165 million	$900 - $910 million

Financial Results Videoconference and Webcast

Logitech will hold a financial results videoconference to discuss the results for Q3 Fiscal Year 2026 on Tuesday, January 27, 2026 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 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 fourth 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 nine months ended December 31, 2025; Q4 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 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, production costs, 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.

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		2025			2024				2025			2024
Net sales		$	1,421,479		$	1,340,294			$	3,755,238		$	3,544,545
Cost of goods sold			805,267			763,403				2,141,277			2,010,411
Amortization of intangible assets			1,573			2,450				5,904			7,344
Gross profit			614,639			574,441				1,608,057			1,526,790
Operating expenses:
Marketing and selling			206,875			217,048				601,664			615,816
Research and development			78,452			77,973				229,149			229,485
General and administrative			41,921			42,117				125,520			123,748
Amortization of intangible assets and acquisition-related costs			915			2,637				5,379			8,065
Restructuring charges, net			462			110				6,946			725
Total operating expenses			328,625			339,885				968,658			977,839
Operating income			286,014			234,556				639,399			548,951
Interest income			10,985			12,176				34,042			42,603
Other income (expense), net			2,131			(1,524	)			3,229			(2,889	)
Income before income taxes			299,130			245,208				676,670			588,665
Provision for income taxes			48,091			45,061				108,946			101,202
Net income		$	251,039		$	200,147			$	567,724		$	487,463
Net income per share:
Basic		$	1.71		$	1.33			$	3.86		$	3.20
Diluted		$	1.69		$	1.32			$	3.82		$	3.18
Weighted average shares used to compute net income per share:
Basic			146,827			150,647				147,265			152,127
Diluted			148,450			151,895				148,635			153,506

LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS*
(In thousands, except per share amounts) - unaudited
		December 31,				March 31,
CONDENSED CONSOLIDATED BALANCE SHEETS		2025				2025
Current assets:
Cash and cash equivalents		$	1,817,820			$	1,503,205
Accounts receivable, net			683,126				454,546
Inventories			449,544				503,747
Other current assets			166,988				131,211
Total current assets			3,117,478				2,592,709
Non-current assets:
Property, plant and equipment, net			115,363				113,858
Goodwill			466,579				463,230
Other intangible assets, net			13,889				24,630
Other assets			382,380				344,077
Total assets		$	4,095,689			$	3,538,504
Current liabilities:
Accounts payable		$	590,421			$	414,586
Accrued and other current liabilities			817,924				686,503
Total current liabilities			1,408,345				1,101,089
Non-current liabilities:
Income taxes payable			113,621				88,483
Other non-current liabilities			238,000				221,512
Total liabilities			1,759,966				1,411,084
Shareholders’ equity:
Registered shares, CHF 0.25 par value Issued shares: 160,784 and 168,994 at December 31, 2025 and March 31, 2025, respectively			28,001				29,432
Additional paid-in capital			104,310				82,591
Shares in treasury, at cost Treasury shares: 14,027 and 20,485 at December 31, 2025 and March 31, 2025, respectively			(908,278	)			(1,464,912	)
Retained earnings			3,237,815				3,627,261
Accumulated other comprehensive loss			(126,125	)			(146,952	)
Total shareholders’ equity			2,335,723				2,127,420
Total liabilities and shareholders’ equity		$	4,095,689			$	3,538,504

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		2025				2024				2025				2024
Cash flows from operating activities:
Net income		$	251,039			$	200,147			$	567,724			$	487,463
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation			16,687				15,075				47,622				44,178
Amortization of intangible assets			2,488				5,087				11,283				15,258
Loss (gain) on investments			(206	)			119				291				1,718
Share-based compensation expense			23,435				26,193				86,575				76,067
Deferred income taxes			(15,900	)			2,163				6,296				18,652
Other			77				73				65				130
Changes in assets and liabilities:
Accounts receivable, net			22,044				(46,366	)			(213,815	)			(127,934	)
Inventories			68,701				26,353				66,921				(67,554	)
Other assets			(12,939	)			7,175				(30,423	)			9,416
Accounts payable			6,548				28,472				171,967				136,848
Accrued and other liabilities			118,558				106,379				119,908				118,659
Net cash provided by operating activities			480,532				370,870				834,414				712,901
Cash flows from investing activities:
Purchases of property, plant and equipment			(14,890	)			(14,227	)			(47,723	)			(43,340	)
Purchases of deferred compensation investments			(1,520	)			(2,202	)			(5,557	)			(5,802	)
Proceeds from sales of deferred compensation investments			2,159				2,659				5,718				4,958
Other investing activities			(213	)			(261	)			(1,196	)			(1,173	)
Net cash used in investing activities			(14,464	)			(14,031	)			(48,758	)			(45,357	)
Cash flows from financing activities:
Payment of cash dividends			—				—				(233,059	)			(207,853	)
Purchases of registered shares			(27,117	)			(200,137	)			(255,380	)			(463,322	)
Proceeds from exercises of stock options and purchase rights			2,459				—				24,172				20,235
Tax withholdings related to net share settlements of restricted stock units			(1,195	)			(1,008	)			(19,406	)			(22,251	)
Other financing activities			—				—				—				(2,908	)
Net cash used in financing activities			(25,853	)			(201,145	)			(483,673	)			(676,099	)
Effect of exchange rate changes on cash and cash equivalents			1,798				(16,138	)			12,632				(9,455	)
Net increase (decrease) in cash and cash equivalents			442,013				139,556				314,615				(18,010	)
Cash and cash equivalents, beginning of the period			1,375,807				1,363,276				1,503,205				1,520,842
Cash and cash equivalents, end of the period		$	1,817,820			$	1,502,832			$	1,817,820			$	1,502,832

LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS*
(In thousands) - unaudited
SUPPLEMENTAL FINANCIAL INFORMATION		Three Months Ended December 31,									Nine Months Ended December 31,
NET SALES		2025			2024			Change			2025			2024			Change
Net sales by product category:
Gaming (1)		$	482,714		$	466,715		3	%		$	1,121,894		$	1,076,660		4	%
Keyboards & Combos			254,612			236,748		8				712,974			662,017		8
Pointing Devices			241,160			217,045		11				658,034			602,927		9
Video Collaboration			193,252			176,053		10				527,645			482,755		9
Webcams			82,268			84,419		(3	)			249,944			237,572		5
Tablet Accessories			93,567			77,433		21				269,855			241,586		12
Headsets			45,939			45,886		—				134,959			137,038		(2	)
Other (2)			27,967			35,995		(22	)			79,933			103,990		(23	)
Total Net Sales		$	1,421,479		$	1,340,294		6	%		$	3,755,238		$	3,544,545		6	%

(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)		2025				2024				2025				2024
Gross profit - GAAP		$	614,639			$	574,441			$	1,608,057			$	1,526,790
Share-based compensation expense			2,636				2,173				8,375				8,673
Amortization of intangible assets			1,573				2,450				5,904				7,344
Gross profit - Non-GAAP		$	618,848			$	579,064			$	1,622,336			$	1,542,807
Gross margin - GAAP			43.2	%			42.9	%			42.8	%			43.1	%
Gross margin - Non-GAAP			43.5	%			43.2	%			43.2	%			43.5	%
Operating expenses - GAAP		$	328,625			$	339,885			$	968,658			$	977,839
Less: Share-based compensation expense			20,799				24,020				78,200				67,394
Less: Amortization of intangible assets and acquisition-related costs			915				2,637				5,379				8,065
Less: Restructuring charges, net			462				110				6,946				725
Operating expenses - Non-GAAP		$	306,449			$	313,118			$	878,133			$	901,655
% of net sales - GAAP			23.1	%			25.4	%			25.8	%			27.6	%
% of net sales - Non-GAAP			21.6	%			23.4	%			23.4	%			25.4	%
Operating income - GAAP		$	286,014			$	234,556			$	639,399			$	548,951
Share-based compensation expense			23,435				26,193				86,575				76,067
Amortization of intangible assets and acquisition-related costs			2,488				5,087				11,283				15,409
Restructuring charges, net			462				110				6,946				725
Operating income - Non-GAAP		$	312,399			$	265,946			$	744,203			$	641,152
% of net sales - GAAP			20.1	%			17.5	%			17.0	%			15.5	%
% of net sales - Non-GAAP			22.0	%			19.8	%			19.8	%			18.1	%
Net income - GAAP		$	251,039			$	200,147			$	567,724			$	487,463
Share-based compensation expense			23,435				26,193				86,575				76,067
Amortization of intangible assets and acquisition-related costs			2,488				5,087				11,283				15,409
Restructuring charges, net			462				110				6,946				725
Loss (gain) on investments			(206	)			119				291				1,718
Non-GAAP income tax adjustment			9,802				9,834				17,944				18,820
Net income - Non-GAAP		$	287,020			$	241,490			$	690,763			$	600,202
Net income per share:
Diluted - GAAP		$	1.69			$	1.32			$	3.82			$	3.18
Diluted - Non-GAAP		$	1.93			$	1.59			$	4.65			$	3.91
Shares used to compute net income per share:
Diluted - GAAP and Non-GAAP			148,450				151,895				148,635				153,506

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		2025				2024				2025				2024
Share-based Compensation Expense
Cost of goods sold		$	2,636			$	2,173			$	8,375			$	8,673
Marketing and selling			5,911				11,813				31,982				34,133
Research and development			5,395				5,043				17,412				15,849
General and administrative			9,493				7,164				28,806				17,412
Total share-based compensation expense			23,435				26,193				86,575				76,067
Income tax benefit			(4,699	)			(4,523	)			(15,620	)			(16,901	)
Total share-based compensation expense, net of income tax benefit		$	18,736			$	21,670			$	70,955			$	59,166

*Note: These preliminary results for the three and nine months ended December 31, 2025 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 enable investors to more fully understand trends in our current and future performance. In assessing our business during the quarter ended December 31, 2025 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 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 as well as 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.

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/20260127592078/en/

Editorial Contacts:

Nate Melihercik, Head of Investor Relations - ir@logitech.com

Bruno Rodriguez, Head of Corporate Communications - mediarelations@logitech.com

Ben Starkie, Corporate Communications - +41 (0) 79-292-3499, bstarkie1@logitech.com

Source: Logitech International