Logitech Announces Q1 Fiscal Year 2027 Results

Sales were $1.23 billion, up 7 percent in US dollars and 5 percent in constant currency, compared to Q1 of the prior year. GAAP gross margin was 49.5 percent, up 780 basis points, compared to Q1 of the prior year. Non-GAAP gross margin was 49.8 percent, up 770 basis points, compared to Q1 of the prior year. These numbers include $61 million in tariff refunds. GAAP operating income was $259 million, up 60 percent, compared to Q1 of the prior year. Non-GAAP operating income was $290 million, up 44 percent, compared to Q1 of the prior year. These numbers include $61 million in tariff refunds. GAAP earnings per share (EPS) was $1.63, up 66 percent compared to Q1 of the prior year. Non-GAAP EPS was $1.85, up 47 percent compared to Q1 of the prior year. Cash flow from operations was $167 million. The quarter-ending cash balance was $1.75 billion. The Company returned $114 million of cash to shareholders through share repurchases. “We delivered a strong first quarter against a dynamic backdrop,” said Hanneke Faber, Logitech chief executive officer. “Superior innovation and stronger brand marketing drove strong growth across core categories, including double-digit growth in Pointing Devices.”

"Our teams demonstrated excellent operational discipline to start the fiscal year," said Matteo Anversa, Logitech chief financial officer. "While our reported results benefited from tariff refunds, our operational performance was impressive even excluding these refunds, with non- GAAP operating income growing 14 percent year over year. Strong gross margin resilience allowed us to exceed our operating income outlook and generate robust cash flow while funding our growth investments."

Financial Results Videoconference and Webcast
Logitech will hold a financial results videoconference to discuss the results for Q1 Fiscal Year 2027 on Tuesday, July 28, 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 Q1 Fiscal Year 2027 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 and trends in its business. With respect to the Company’s outlook for non-GAAP operating income and non-GAAP operating margin, 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 Q2 FY27 outlook and expectations for FY27 non-GAAP operating margin.

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.


Medienkontakt:
Kate Beerkens, Director of Investor Relations - ir@logitech.com
Bruno Rodriguez, Head of Corporate Communications - mediarelations@logitech.com