Logitech (Nasdaq: LOGI) posts FY 2026 growth and record non-GAAP margins

Rhea-AI Filing Summary

Logitech International reported solid growth for Fiscal Year 2026, with sales of $4.84 billion, up 6% in US dollars and 4% in constant currency. GAAP operating income rose to $775 million, and non-GAAP operating income reached $911 million, both up 18% year over year.

GAAP EPS was $4.80, up 16%, while non-GAAP EPS was $5.78, up 19%. Cash flow from operations totaled $1.04 billion, ending with $1.7 billion in cash, after returning $768 million to shareholders via dividends and buybacks. For Q4, sales were $1.09 billion, up 7%, with GAAP EPS of $0.98 and non-GAAP EPS of $1.13.

For Q1 FY27, Logitech guides sales to $1.19–$1.215 billion, implying 4–6% year-over-year growth in US dollars, and expects non-GAAP operating income of $195–$215 million.

Positive

• Profitability and margins materially improved: FY 2026 non-GAAP operating income rose 18% to $911 million, with non-GAAP gross margin of 43.6% and operating margin of 18.8%, described as the highest ever outside pandemic peaks, while cash flow from operations reached $1.04 billion.

Negative

• None.

Insights

Equity research analyst

Logitech delivered moderate revenue growth with sharply higher profitability and record non-GAAP margins.

Logitech grew FY 2026 sales to $4.84 billion, up 6%, while GAAP operating income climbed 18% to $775 million. Non-GAAP operating income also rose 18% to $911 million, highlighting strong cost control and operating leverage as revenue expanded modestly.

Non-GAAP gross margin reached 43.6% and operating margin 18.8%, described as the highest ever outside pandemic peaks. Cash flow from operations was robust at $1.04 billion, and the company ended with $1.7 billion in cash after returning $768 million via dividends and buybacks.

Management points to renewed growth in the Americas and accelerated Gaming performance, with FY 2026 Gaming sales of $1.41 billion up 6%. Q1 FY27 guidance for sales of $1.19–$1.215 billion (4–6% growth) and non-GAAP operating income of $195–$215 million suggests continued, but measured, expansion as the team emphasizes AI-driven innovation and maintains cost discipline.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

FY 2026 Sales: $4.84 billion FY 2026 GAAP Operating Income: $775 million FY 2026 Non-GAAP Operating Income: $911 million +5 more

8 metrics

FY 2026 Sales $4.84 billion Fiscal Year 2026 net sales, up 6% year over year

FY 2026 GAAP Operating Income $775 million Fiscal Year 2026, up 18% versus prior year

FY 2026 Non-GAAP Operating Income $911 million Fiscal Year 2026, up 18% versus prior year

FY 2026 GAAP EPS $4.80 Fiscal Year 2026 diluted earnings per share, up 16%

FY 2026 Non-GAAP EPS $5.78 Fiscal Year 2026 diluted non-GAAP EPS, up 19%

FY 2026 Operating Cash Flow $1.04 billion Cash flow from operations for Fiscal Year 2026

Cash Returned to Shareholders $768 million FY 2026 dividends and share repurchases combined

Q1 FY27 Sales Outlook $1.19–$1.215 billion Guided 4–6% year-over-year sales growth in US dollars

Key Terms

non-GAAP, constant currency, share-based compensation expense, restructuring charges, +2 more

6 terms

non-GAAP financial

"Non-GAAP operating income was $911 million, up 18 percent compared to the prior year."

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.

constant currency financial

"Sales were $4.84 billion, up 6 percent in US dollars and 4 percent in constant currency compared to the prior year."

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.

share-based compensation expense financial

"Share-based compensation expense | | 25,817 | | | 13,846 | | | 112,392 |"

Share-based compensation expense is the accounting cost a company records when it pays employees or executives with stock, stock options, or other equity instead of cash. It matters to investors because it reduces reported profits and can dilute existing owners’ stake over time — like a bakery paying workers with slices of cake instead of money, leaving fewer slices for original owners and changing each slice’s value.

restructuring charges financial

"Restructuring charges, net | | 2,914 | | | 8,890 | | | 9,860 |"

Restructuring charges are costs that a company pays when it changes how it operates, like closing factories or laying off employees. These expenses are often one-time and happen to help the company become more efficient in the long run. They matter because they can affect the company's profits and how investors see its future prospects.

forward-looking statements regulatory

"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..."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

constant currency (“cc”) financial

"Logitech also presents percentage sales growth in constant currency (“cc”), a non-GAAP measure, to show performance unaffected by fluctuations in currency exchange rates."

Earnings Snapshot

FY 2026 Sales: $4.84 billion · Guidance included

Q4 and Fiscal Year 2026

FY 2026 Sales $4.84 billion up 6% year over year in US dollars, 4% in constant currency

FY 2026 GAAP Operating Income $775 million up 18% year over year

FY 2026 Non-GAAP Operating Income $911 million up 18% year over year

FY 2026 GAAP EPS $4.80 up 16% year over year

FY 2026 Non-GAAP EPS $5.78 up 19% year over year

Q4 2026 Sales $1.09 billion up 7% in US dollars and 3% in constant currency versus Q4 prior year

Q4 2026 GAAP EPS $0.98 up 2% versus Q4 prior year

Q4 2026 Non-GAAP EPS $1.13 up 22% versus Q4 prior year

Guidance

For Q1 FY27, Logitech guides sales to $1.19–$1.215 billion (4–6% year-over-year growth in US dollars, 2–4% in constant currency) and non-GAAP operating income to $195–$215 million.

Understanding 8-K Material Events →

0001032975false00010329752026-05-052026-05-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

Date of Report  (Date of earliest event reported): May 5, 2026

LOGITECH INTERNATIONAL S.A.

(Exact name of registrant as specified in its charter)

Canton of Vaud,			Switzerland			0-29174			None
(State or other jurisdiction of incorporation or organization)						(Commission File Number)			(I.R.S. Employer Identification No.)

Logitech International S.A.
EPFL - Quartier de l'Innovation
1015 Lausanne, Switzerland
c/o Logitech Inc.
3930 North First Street
San Jose,			California			95134
(Address of principal executive offices and zip code)

(510)			795-8500
(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

     

☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Registered Shares			LOGN			SIX Swiss Exchange
Registered Shares			LOGI			Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐  

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On May 5, 2026, Logitech International S.A. (“Logitech”) issued a press release regarding its financial results for the quarter and fiscal year ended March 31, 2026.  A copy of the press release is furnished as Exhibit 99.1 to this Form 8-K.

The information in Item 2.02 and Item 9.01 of this Current Report, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS

(d) Exhibits

Exhibit						Description
99.1						Press release issued on May 5, 2026, including financial results for the quarter and fiscal year ended March 31, 2026.
104						Cover Page Interactive Data File (Cover page XBRL tags are embedded within the Inline XBRL document)

 SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Logitech International S.A.

/s/ Johanna (Hanneke) Faber

Johanna (Hanneke) Faber

Chief Executive Officer

/s/ Matteo Anversa

Matteo Anversa

Chief Financial Officer

May 5, 2026

Exhibit 99.1

Editorial Contacts:

Kate Beerkens, Director of Investor Relations - ir@logitech.com

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

Logitech Announces Q4 and Full Fiscal Year 2026 Results

Strong FY 2026 Demonstrates

Strategy and Operating Principles Are Delivering

LAUSANNE, Switzerland, and SAN JOSE, Calif., May 5, 2026 — 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 2026.

For Fiscal Year 2026:

•Sales were $4.84 billion, up 6 percent in US dollars and 4 percent in constant currency compared to the prior year.

•GAAP operating income was $775 million, up 18 percent compared to the prior year. Non-GAAP operating income was $911 million, up 18 percent compared to the prior year.

•GAAP earnings per share was $4.80, up 16 percent compared to the prior year. Non-GAAP EPS was $5.78, up 19 percent compared to the prior year.

•Cash flow from operations was $1.04 billion. The year-ending cash balance was $1.7 billion. The Company returned $768 million of cash to shareholders through its annual dividend payment and share repurchases.

For Q4 Fiscal Year 2026:

•Sales were $1.09 billion, up 7 percent in US dollars and 3 percent in constant currency compared to Q4 of the prior year.

•GAAP operating income was $136 million, up 28 percent compared to Q4 of the prior year. Non-GAAP operating income was $167 million, up 25 percent compared to Q4 of the prior year.

•GAAP EPS was $0.98, up 2 percent compared to Q4 of the prior year. Non-GAAP EPS was $1.13, up 22 percent compared to Q4 of the prior year.

•Cash flow from operations was $203 million.

“Our strong Fiscal Year 2026 performance demonstrates that our strategy and operating principles of playing offense, cost discipline and agility are working,” said Hanneke Faber, Logitech chief executive officer. “We closed the year with a strong Q4, and were pleased to see a solid return to growth in the Americas, and accelerated growth in Gaming. As we transition into FY27, we are amplifying our focus on future growth. Rapid AI advancements make it a unique period for us to innovate and invest for a future in which both Work and Play will look different.”

“FY 2026 showcased what our teams and business model are capable of,” said Matteo Anversa, Logitech chief financial officer. “Operating income grew 18% year over year, and our annual non-GAAP gross margin of 43.6% and operating margin of 18.8% were the highest ever, outside of pandemic peaks. We also delivered substantial shareholder returns of $768 million in dividends and share repurchases. While the operating environment remains volatile, we see good momentum in the business going into Q1.”

Outlook

Our financial outlook for the first quarter of Fiscal Year 2027 is:

						Q1 FY27 outlook
Sales						$1,190 - $1,215 million
Sales growth (in US dollars, year over year)						4% - 6%
Sales growth (in constant currency, year over year)						2% - 4%
Non-GAAP operating income						$195 - $215 million

Financial Results Videoconference and Webcast

Logitech will hold a financial results videoconference to discuss the results for the fourth quarter and full Fiscal Year 2026 on Tuesday, May 5, 2026 at 1:30 p.m. Pacific Daylight Time (PDT) and 10:30 p.m. Central European Summer Time (CEST).

A livestream of the event will be available on the Logitech corporate website at https://ir.logitech.com. This press release and the Q4 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 first quarter of Fiscal Year 2027 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 months and fiscal year ended March 31, 2026; Q1 FY27 outlook, including for sales and non-GAAP operating income, our strategy, investments, 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, government shutdowns, geopolitical conflicts and warfare, and energy and transportation costs; 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 SEC, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2025, our quarterly report on Form 10-Q for the quarter ended December 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.

(LOGIIR)

LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS*
(In thousands, except per share amounts) - unaudited
						Three Months Ended March 31,												Fiscal Years Ended March 31,
GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS						2026						2025						2026						2025
Net sales						$	1,085,523					$	1,010,355					$	4,840,761					$	4,554,900
Cost of goods sold						601,130						572,334						2,742,407						2,582,745
Amortization of intangible assets						1,113						2,210						7,017						9,554
Gross profit						483,280						435,811						2,091,337						1,962,601
Operating expenses:
Marketing and selling						214,940						198,598						816,604						814,414
Research and development						87,072						79,523						316,221						309,008
General and administrative						41,640						40,266						167,160						164,014
Amortization of intangible assets and acquisition-related costs						919						2,630						6,298						10,695
Restructuring charges, net						2,914						8,890						9,860						9,615
Total operating expenses						347,485						329,907						1,316,143						1,307,746
Operating income						135,795						105,904						775,194						654,855
Interest income						14,204						12,394						48,246						54,997
Other income (expense), net						(150)						(91)						3,079						(2,980)
Income before income taxes						149,849						118,207						826,519						706,872
Provision for (benefit from) income taxes						6,386						(25,859)						115,332						75,343
Net income						$	143,463					$	144,066					$	711,187					$	631,529
Net income per share:
Basic						$	0.99					$	0.97					$	4.85					$	4.17
Diluted						$	0.98					$	0.96					$	4.80					$	4.13
Weighted average shares used to compute net income per share:
Basic						145,384						148,999						146,775						151,322
Diluted						147,002						150,709						148,208						152,784

LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS*
(In thousands, except per share amounts) - unaudited
						March 31,						March 31,
CONDENSED CONSOLIDATED BALANCE SHEETS						2026						2025
Current assets:
Cash and cash equivalents						$	1,741,546					$	1,503,205
Accounts receivable, net						505,867						454,546
Inventories						489,948						503,747
Other current assets						177,895						131,211
Total current assets						2,915,256						2,592,709
Non-current assets:
Property, plant and equipment, net						116,454						113,858
Goodwill						465,417						463,230
Other intangible assets, net						12,386						24,630
Other assets						339,075						344,077
Total assets						3,848,588						3,538,504
Current liabilities:
Accounts payable						$	530,983					$	414,586
Accrued and other current liabilities						781,990						686,503
Total current liabilities						1,312,973						1,101,089
Non-current liabilities:
Income taxes payable						86,322						88,483
Other non-current liabilities						237,899						221,512
Total liabilities						1,637,194						1,411,084
Shareholders’ equity:
Registered shares, CHF 0.25 par value Issued shares: 160,784 and 168,994 at March 31, 2026 and 2025, respectively						28,001						29,432
Additional paid-in capital						123,386						82,591
Shares in treasury, at cost Treasury shares: 17,282 and 20,485 at March 31, 2026 and 2025, respectively						(1,207,454)						(1,464,912)
Retained earnings						3,381,278						3,627,261
Accumulated other comprehensive loss						(113,817)						(146,952)
Total shareholders’ equity						2,211,394						2,127,420
Total liabilities and shareholders’ equity						$	3,848,588					$	3,538,504

LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS*
(In thousands) - unaudited
						Three Months Ended March 31,												Fiscal Years Ended March 31,
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS						2026						2025						2026						2025
Cash flows from operating activities:
Net income						$	143,463					$	144,066					$	711,187					$	631,529
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation						16,517						15,486						64,139						59,664
Amortization of intangible assets						2,032						4,840						13,315						20,098
Loss on investments						321						311						612						2,029
Share-based compensation expense						25,817						13,846						112,392						89,913
Deferred income taxes						23,526						37,891						29,822						56,543
Other						(37)						(10)						28						120
Changes in assets and liabilities:
Accounts receivable, net						174,379						197,913						(39,436)						69,979
Inventories						(44,039)						(12,947)						22,882						(80,501)
Other assets						(6,136)						14,554						(36,559)						23,970
Accounts payable						(62,793)						(168,475)						109,174						(31,627)
Accrued and other liabilities						(70,257)						(117,819)						49,651						840
Net cash provided by operating activities						202,793						129,656						1,037,207						842,557
Cash flows from investing activities:
Purchases of property, plant and equipment						(13,839)						(12,788)						(61,562)						(56,128)
Purchases of deferred compensation investments						(4,922)						(798)						(10,479)						(6,600)
Proceeds from sales of deferred compensation investments						5,590						2,121						11,308						7,079
Other investing activities						(458)						(446)						(1,654)						(1,619)
Net cash used in investing activities						(13,629)						(11,911)						(62,387)						(57,268)
Cash flows from financing activities:
Payment of cash dividends						—						—						(233,059)						(207,853)
Payment of contingent consideration for business acquisition						—						—						—						(1,245)
Purchases of registered shares						(279,559)						(125,516)						(534,939)						(588,838)
Proceeds from exercises of stock options and purchase rights						14,148						16,170						38,320						36,405
Tax withholdings related to net share settlements of restricted stock units						(2,032)						(10,234)						(21,438)						(32,485)
Other financing activities						—						(1,681)						—						(3,344)
Net cash used in financing activities						(267,443)						(121,261)						(751,116)						(797,360)
Effect of exchange rate changes on cash and cash equivalents						2,005						3,889						14,637						(5,566)
Net increase (decrease) in cash and cash equivalents						(76,274)						373						238,341						(17,637)
Cash and cash equivalents, beginning of the period						1,817,820						1,502,832						1,503,205						1,520,842
Cash and cash equivalents, end of the period						$	1,741,546					$	1,503,205					$	1,741,546					$	1,503,205

LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS*
(In thousands) - unaudited
SUPPLEMENTAL FINANCIAL INFORMATION						Three Months Ended March 31,																		Fiscal Years Ended March 31,
NET SALES						2026						2025						Change						2026						2025						Change
Net sales by product category:
Gaming (1)						$	292,312					$	261,807					12		%				$	1,414,206					$	1,338,467					6		%
Keyboards & Combos						224,577						220,626						2						937,551						882,643						6
Pointing Devices						200,870						185,857						8						858,904						788,784						9
Video Collaboration						161,395						143,245						13						689,040						626,000						10
Webcams						76,228						77,948						(2)						326,172						315,520						3
Tablet Accessories						66,334						57,954						14						336,189						299,540						12
Headsets						44,866						42,672						5						179,825						179,710						—
Other (2)						18,941						20,246						(6)						98,874						124,236						(20)
Total Net Sales						$	1,085,523					$	1,010,355					7		%				$	4,840,761					$	4,554,900					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 March 31,												Fiscal Years Ended March 31,
GAAP TO NON-GAAP RECONCILIATION (A)						2026						2025						2026						2025
Gross profit - GAAP						$	483,280					$	435,811					$	2,091,337					$	1,962,601
Share-based compensation expense						2,256						1,348						10,631						10,021
Amortization of intangible assets						1,113						2,210						7,017						9,554
Gross profit - Non-GAAP						$	486,649					$	439,369					$	2,108,985					$	1,982,176
Gross margin - GAAP						44.5		%				43.1		%				43.2		%				43.1		%
Gross margin - Non-GAAP						44.8		%				43.5		%				43.6		%				43.5		%
Operating expenses - GAAP						$	347,485					$	329,907					$	1,316,143					$	1,307,746
Less: Share-based compensation expense						23,561						12,498						101,761						79,892
Less: Amortization of intangible assets and acquisition-related costs						919						2,630						6,298						10,695
Less: Restructuring charges, net						2,914						8,890						9,860						9,615
Operating expenses - Non-GAAP						$	320,091					$	305,889					$	1,198,224					$	1,207,544
% of net sales - GAAP						32.0		%				32.7		%				27.2		%				28.7		%
% of net sales - Non-GAAP						29.5		%				30.3		%				24.8		%				26.5		%
Operating income - GAAP						$	135,795					$	105,904					$	775,194					$	654,855
Share-based compensation expense						25,817						13,846						112,392						89,913
Amortization of intangible assets and acquisition-related costs						2,032						4,840						13,315						20,249
Restructuring charges, net						2,914						8,890						9,860						9,615
Operating income - Non-GAAP						$	166,558					$	133,480					$	910,761					$	774,632
% of net sales - GAAP						12.5		%				10.5		%				16.0		%				14.4		%
% of net sales - Non-GAAP						15.3		%				13.2		%				18.8		%				17.0		%
Net income - GAAP						$	143,463					$	144,066					$	711,187					$	631,529
Share-based compensation expense						25,817						13,846						112,392						89,913
Amortization of intangible assets and acquisition-related costs						2,032						4,840						13,315						20,249
Restructuring charges, net						2,914						8,890						9,860						9,615
Loss on investments						321						311						612						2,029
Non-GAAP income tax adjustment						(8,868)						(32,225)						9,076						(13,405)
Net income - Non-GAAP						$	165,679					$	139,728					$	856,442					$	739,930
Net income per share:
Diluted - GAAP						$	0.98					$	0.96					$	4.80					$	4.13
Diluted - Non-GAAP						$	1.13					$	0.93					$	5.78					$	4.84
Shares used to compute net income per share:
Diluted - GAAP and Non-GAAP						147,002						150,709						148,208						152,784

LOGITECH INTERNATIONAL S.A.
PRELIMINARY RESULTS*
(In thousands) - unaudited
SUPPLEMENTAL FINANCIAL INFORMATION						Three Months Ended March 31,												Fiscal Years Ended March 31,
SHARE-BASED COMPENSATION EXPENSE						2026						2025						2026						2025
Share-based Compensation Expense
Cost of goods sold						$	2,256					$	1,348					$	10,631					$	10,021
Marketing and selling						10,524						6,245						42,506						40,378
Research and development						5,492						4,331						22,904						20,180
General and administrative						7,545						1,922						36,351						19,334
Total share-based compensation expense						25,817						13,846						112,392						89,913
Income tax benefit						(5,101)						(3,247)						(20,721)						(20,148)
Total share-based compensation expense, net of income tax benefit						$	20,716					$	10,599					$	91,671					$	69,765

*Note: These preliminary results for the three months and fiscal year ended March 31, 2026 are subject to adjustments, including subsequent events that may occur through the date of filing our Annual Report on Form 10-K.

(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 and fiscal year ended March 31, 2026 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.

FAQ

How did Logitech (LOGI) perform financially in Fiscal Year 2026?

Logitech delivered FY 2026 sales of $4.84 billion, up 6% in US dollars and 4% in constant currency. GAAP operating income reached $775 million and non-GAAP operating income $911 million, both up 18% year over year, with strong margins and cash generation.

What were Logitech’s earnings per share for FY 2026?

For FY 2026, Logitech reported GAAP EPS of $4.80, up 16% from the prior year, and non-GAAP EPS of $5.78, up 19%. These figures reflect higher operating income and strong margin performance across the business compared with Fiscal Year 2025.

How much cash did Logitech (LOGI) generate and return to shareholders in FY 2026?

Logitech generated $1.04 billion in cash flow from operations in FY 2026 and ended the year with $1.7 billion in cash. The company returned $768 million to shareholders through its annual dividend payment and share repurchases over the fiscal year.

What were Logitech’s Q4 FY 2026 results for sales and earnings?

In Q4 FY 2026, Logitech reported sales of $1.09 billion, up 7% in US dollars and 3% in constant currency year over year. GAAP EPS was $0.98, up 2%, while non-GAAP EPS was $1.13, up 22% versus Q4 of the prior year.

What guidance did Logitech give for Q1 Fiscal Year 2027?

For Q1 FY27, Logitech expects sales of $1.19–$1.215 billion, representing 4–6% year-over-year growth in US dollars and 2–4% in constant currency. It also projects non-GAAP operating income between $195 million and $215 million for the quarter.

How did Logitech’s Gaming and other key product categories perform in FY 2026?

In FY 2026, Gaming sales were $1.41 billion, up 6% year over year. Other notable categories included Keyboards & Combos at $937.6 million (up 6%), Pointing Devices at $858.9 million (up 9%), and Video Collaboration at $689.0 million (up 10%).

What non-GAAP adjustments does Logitech use in its financial reporting?

Logitech’s non-GAAP measures exclude share-based compensation expense, amortization of intangible assets, acquisition-related costs, restructuring charges, loss (gain) on investments, and a non-GAAP income tax adjustment. Management uses these metrics alongside GAAP results to assess performance and business trends.

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