logi-20260630

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from to

Commission File Number: 0-29174

LOGITECH INTERNATIONAL S.A.

(Exact name of registrant as specified in its charter)


Canton of Vaud,	Switzerland	None
(State or other jurisdiction of incorporation or organization)		(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)

Securities registered pursuant to Section 12(b) of the 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 (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o

Indicate by check mark whether the registrant has submitted electronically every Interactive Data file required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ý No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer

Smaller reporting company

☐

Accelerated filer

☐

Emerging Growth Company

☐

Non-accelerated filer

☐

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. o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ý

As of July 15, 2026, there were 143,188,332 shares of the Registrant’s share capital outstanding.

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		Page

Part I	FINANCIAL INFORMATION
Item 1.	Financial Statements (Unaudited)	3
	Condensed Consolidated Statements of Operations for the Three Months Ended June 30, 2026 and 2025	3
	Condensed Consolidated Statements of Comprehensive Income for the Three Months Ended June 30, 2026 and 2025	4
	Condensed Consolidated Balance Sheets as of June 30, 2026 and March 31, 2026	5
	Condensed Consolidated Statements of Cash Flows for the Three Months Ended June 30, 2026 and 2025	6
	Condensed Consolidated Statements of Changes in Shareholders' Equity for the Three Months Ended June 30, 2026 and 2025	7
	Notes to the Condensed Consolidated Financial Statements	8
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	22
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	35
Item 4.	Controls and Procedures	37
Part II	OTHER INFORMATION
Item 1.	Legal Proceedings	38
Item 1A.	Risk Factors	38
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	38
Item 3.	Defaults Upon Senior Securities	39
Item 4.	Mine Safety Disclosures	39
Item 5.	Other Information	39
Item 6.	Exhibit Index	40
Signatures

In this document, unless otherwise indicated, references to the “Company,” “Logitech,” "we," "our," and "us" are to Logitech International S.A. and its consolidated subsidiaries. Unless otherwise specified, all references to U.S. Dollar, Dollar or $ are to the United States Dollar, the legal currency of the United States of America. All references to CHF are to the Swiss Franc, the legal currency of Switzerland.

Logitech, the Logitech logo, and the Logitech products referred to herein are either the trademarks or the registered trademarks of Logitech. All other trademarks are the property of their respective owners.

Our fiscal year ends on March 31. Interim quarters are generally thirteen-week periods, each ending on a Friday of each quarter. The first quarter of fiscal year 2027 ended on June 26, 2026. The same quarter in the prior fiscal year ended on June 27, 2025. For purposes of presentation, we have indicated our quarterly periods end on the last day of the calendar quarter.

The term “sales” means net sales, except as otherwise specified.

We make available, free of charge on our website, access to our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as soon as reasonably practicable after we file or furnish them electronically with the Securities and Exchange Commission ("SEC").

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Recordings of our earnings videoconferences and certain events we participate in or host, with members of the investment community are posted on our investor relations website at https://ir.logitech.com. Additionally, we provide notifications of news or announcements regarding our operations and financial performance, including SEC filings, investor events, and press and earnings releases as part of our investor relations website. We intend to use our investor relations website as means of disclosing material nonpublic information and for complying with our disclosure obligations under Regulation FD. Our corporate governance information also is available on our investor relations website.

All references to our websites are intended to be inactive textual references only, and the contents of such websites do not constitute a part of and are not intended to be incorporated into this Quarterly Report on Form 10-Q.

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PART I — FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED)

LOGITECH INTERNATIONAL S.A.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share amounts)

(unaudited)


	Three Months Ended June 30,
	2026		2025
Net sales	$	1,227,234	$	1,147,703
Cost of goods sold	618,599		666,592
Amortization of intangible assets	695		2,149
Gross profit	607,940		478,962

Operating expenses:
Marketing and selling	219,745		195,796
Research and development	84,623		74,587
General and administrative	43,525		41,797
Amortization of intangible assets and acquisition-related costs	926		2,646


Restructuring charges, net	570		2,042
Total operating expenses	349,389		316,868

Operating income	258,551		162,094
Interest income	14,099		11,229
Other income (expense), net	2,930		1,162
Income before income taxes	275,580		174,485
Provision for income taxes	39,883		28,470
Net income	$	235,697	$	146,015

Net income per share:
Basic	$	1.64	$	0.99
Diluted	$	1.63	$	0.98

Weighted average shares used to compute net income per share:
Basic	143,495		147,864
Diluted	145,038		149,053

The accompanying notes are an integral part of these condensed consolidated financial statements.

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LOGITECH INTERNATIONAL S.A.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(In thousands)

(unaudited)


	Three Months Ended June 30,
	2026		2025
Net income	$	235,697	$	146,015
Other comprehensive income (loss):
Currency translation gain (loss):
Currency translation gain (loss)	(1,739)		27,293

Defined benefit plans gain (loss), net of taxes:

Reclassification of amortization included in other income (expense), net	(163)		(157)
Hedging gain (loss), net of taxes:
Deferred hedging gain (loss)	2,129		(12,349)
Reclassification of hedging loss included in cost of goods sold	1,348		2,002
Total other comprehensive income (loss), net of taxes	1,575		16,789
Total comprehensive income	$	237,272	$	162,804

The accompanying notes are an integral part of these condensed consolidated financial statements.

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LOGITECH INTERNATIONAL S.A.

CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except per share amounts)

(unaudited)


	June 30, 2026		March 31, 2026
Assets
Current assets:
Cash and cash equivalents	$	1,749,679	$	1,741,546
Accounts receivable, net	668,497		505,867
Inventories	491,743		489,948
Other current assets	211,324		177,895
Total current assets	3,121,243		2,915,256
Non-current assets:
Property, plant and equipment, net	113,021		116,454
Goodwill	464,959		465,417
Other intangible assets, net	10,752		12,386
Other assets	324,090		339,075
Total assets	$	4,034,065	$	3,848,588
Liabilities and Shareholders’ Equity
Current liabilities:
Accounts payable	$	585,798	$	530,983
Accrued and other current liabilities	764,666		781,990
Total current liabilities	1,350,464		1,312,973
Non-current liabilities:
Income taxes payable	92,547		86,322
Other non-current liabilities	239,309		237,899
Total liabilities	1,682,320		1,637,194
Commitments and contingencies (Note 10)
Shareholders’ equity:
Registered shares, CHF 0.25 par value Issued shares: 160,784 at June 30, 2026 and March 31, 2026	28,001		28,001



Additional paid-in capital	66,528		123,386
Shares in treasury, at cost Treasury shares: 17,218 and 17,282 at June 30, 2026 and March 31, 2026, respectively	(1,226,865)		(1,207,454)
Retained earnings	3,596,323		3,381,278
Accumulated other comprehensive loss	(112,242)		(113,817)
Total shareholders’ equity	2,351,745		2,211,394
Total liabilities and shareholders’ equity	$	4,034,065	$	3,848,588

The accompanying notes are an integral part of these condensed consolidated financial statements.

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LOGITECH INTERNATIONAL S.A.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

(unaudited)


	Three Months Ended June 30,
	2026		2025
Cash flows from operating activities:
Net income	$	235,697	$	146,015
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation	17,360		15,064
Amortization of intangible assets	1,621		4,795

(Gain) loss on investments	(557)		393

Share-based compensation expense	29,632		32,828
Deferred income taxes	13,872		12,113

Other	(2)		(25)
Changes in assets and liabilities:
Accounts receivable, net	(162,667)		(166,767)
Inventories	(707)		17,304
Other assets	(29,789)		(19,817)
Accounts payable	56,210		135,003
Accrued and other liabilities	6,038		(51,861)
Net cash provided by operating activities	166,708		125,045
Cash flows from investing activities:
Purchases of property, plant and equipment	(16,798)		(16,276)





Purchases of deferred compensation investments	(4,721)		(3,261)
Proceeds from sales of deferred compensation investments	4,586		1,738
Other investing activities	(214)		(301)

Net cash used in investing activities	(17,147)		(18,100)
Cash flows from financing activities:


Purchases of registered shares	(113,616)		(121,657)
Proceeds from exercises of stock options and purchase rights	8,607		3,262
Tax withholdings related to net share settlements of restricted stock units	(35,644)		(16,038)

Net cash used in financing activities	(140,653)		(134,433)
Effect of exchange rate changes on cash and cash equivalents	(775)		12,105
Net increase (decrease) in cash and cash equivalents	8,133		(15,383)
Cash and cash equivalents, beginning of the period	1,741,546		1,503,205
Cash and cash equivalents, end of the period	$	1,749,679	$	1,487,822

Supplementary Cash Flow Disclosures:
Non-cash investing and financing activities:
Property, plant and equipment purchased during the period and included in period end liability accounts	$	10,790	$	8,565


Right-of-use assets obtained in exchange for operating lease liabilities	$	1,023	$	1,221

Supplemental cash flow information:
Income taxes paid, net	$	7,952	$	28,772

The accompanying notes are an integral part of these condensed consolidated financial statements.

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LOGITECH INTERNATIONAL S.A.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS’ EQUITY

(In thousands, except per share amounts)

(unaudited)

Three Months Ended June 30, 2026


				Additional Paid-in Capital							Accumulated Other Comprehensive Loss		Total Shareholders’ Equity
	Registered Shares					Treasury Shares			Retained Earnings
	Shares	Amount				Shares	Amount
March 31, 2026	160,784	$	28,001	$	123,386	17,282	$	(1,207,454)	$	3,381,278	$	(113,817)	$	2,211,394
Total comprehensive income	—	—		—		—	—		235,697		1,575		237,272
Purchases of registered shares	—	—		—		926	(100,775)		—		—		(100,775)
Sales of shares upon exercise of stock options and purchase rights	—	—		(1,320)		(164)	13,563		(3,636)		—		8,607
Issuance of shares upon vesting of restricted stock units	—	—		(86,429)		(826)	67,801		(17,016)		—		(35,644)


Share-based compensation