14 August 2025 | 4:24PM BST Europe Technology: Semiconductors AI & Semis Symposium - Key Takeaways Alexander Duval +44(20)7552-2995 | alexander.duval@gs.com Goldman Sachs International Anant Jakhar +1(332)245-7829 | anant.x.jakhar@gs.com Goldman Sachs India SPL Ayo Odunaiya +44(20)7051-5995 | ayo.x.odunaiya@gs.com Goldman Sachs International Goldman Sachs does and seeks to do business with companies covered in its research reports. As a result, investors should be aware that the firm may have a conflict of ...

Faber表示，这一轮供应链多元化"堪称典范"，且"没有因转移而产生材料成本上升"。为抵消美国对中国产品加征的关税，罗技已于今年二季度在美国市场 提价10%，并承诺暂无新一轮涨价计划。 值得注意的是，罗技的供应链重构或仍存隐忧。调研机构IDC指出，东南亚多国仍面临电力缺口、熟练工短缺及港口拥堵等中长期瓶颈。若美国对华关税政 策再度升级，罗技能否在新基地快速扩产仍待观察。 近日，瑞士外设龙头罗技（NASDAQ: LOGI）首席执行官Hanneke Faber 确认，罗技正在把生产线加速迁出中国，并强调"计划进展顺利，年底前中国制造产 品占美国进口总量的比例将降至10%"。据悉，目前，该比例已从高峰期的40%降至约30%，罗技将产能分散至马来西亚、泰国、越南及墨西哥，与当地合同 制造商合作。 ...

Table of Contents For the Transition Period from to 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, 2025 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 0-29174 LOGITECH INTERNATIONAL S.A. (Exact name of registrant as specified in its charter) Canton of Vaud, Switzer ...

Core Insights - Logitech International S.A. (LOGI) reported first-quarter fiscal 2026 non-GAAP earnings of $1.26 per share, exceeding the Zacks Consensus Estimate by 15.6% and reflecting a 12% year-over-year increase [1] - The company achieved revenues of $1.15 billion in the first quarter, surpassing the consensus mark by 3.2% and showing a 5% increase compared to the same quarter last year [1] Revenue Breakdown - Revenues from Keyboards & Combos rose 3% year over year to $222.5 million, while Pointing Devices grew 3% to $195.8 million [2] - Tablet Accessories saw a significant increase of 16% to $91.2 million, and Webcams also increased by 16% to $84.4 million [2] - Gaming revenues increased 2% year over year to $315.9 million, and Video Collaboration sales rose 13% to $166.7 million [3] - Headsets product category revenues increased 3% to $45.5 million, while Other categories' sales decreased by 16% to $25.7 million [3] Margins and Operating Metrics - Non-GAAP gross profit increased to $483.5 million from $471.3 million in the prior year, but non-GAAP gross margin contracted by 120 basis points to 42.1% [4] - Non-GAAP operating expenses decreased by 2.5% year over year to $281.7 million, representing 24.5% of revenues, a decrease of 200 basis points [4] - Non-GAAP operating income increased by 10.6% to $201.8 million, with the operating margin expanding by 80 basis points to 17.6% [5] Liquidity and Shareholder Return - As of June 30, 2025, LOGI's cash and cash equivalents were $1.49 billion, slightly down from $1.5 billion in the previous quarter [6] - The company generated $125 million in cash from operational activities in the first quarter and returned $122 million to shareholders through share repurchases, with no dividends paid during the quarter [6] Future Guidance - Logitech issued strong sales guidance for the second quarter of fiscal 2026, projecting revenues between $1.145 billion and $1.19 billion, indicating year-over-year growth of 3-7% on a reported basis [7][8] - The company also forecasts non-GAAP operating profit in the range of $180 million to $200 million for the upcoming quarter [8]

Financial Data and Key Metrics Changes - Net sales grew by 5% year over year in constant currency, with strong demand across both consumer and B2B segments [15][19] - Non-GAAP gross margin for the quarter was 42.1%, reflecting a 120 basis points decline from the previous year due to tariffs and higher promotional spending [16][70] - Operating expenses decreased by 2% year over year, representing 24.5% of net sales, down from 26.5% in the same quarter last year [17][18] Business Line Data and Key Metrics Changes - Video collaboration segment saw a 13% year over year growth, driven by strong demand in North America [15][28] - Personal workspace grew by 6% year over year, with double-digit growth in webcams and tablet accessories [15] - Gaming segment experienced a 6% growth, with significant share gains in North America and a notable recovery in China [36][100] Market Data and Key Metrics Changes - Asia Pacific region grew by 15% year over year, with strong performance in China [16][36] - EMEA region grew by 9%, driven by robust demand across all product categories [16] - North America declined by 4%, primarily due to a pause in product shipments during price negotiations [16] Company Strategy and Development Direction - The company is focused on three guiding principles: playing offense, disciplined cost control, and agility [5][6] - Continued investment in research and development, representing 6% of sales, to drive innovation and superior products [5] - Expansion in B2B markets, particularly in video conferencing, with double-digit growth in this segment [10][33] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing uncertainty regarding tariff policies, inflation, and customer sentiment but expressed confidence in the company's resilience [11][12] - The company expects net sales growth of 1% to 5% year over year in the second quarter, with gross margin rates projected between 41% and 42% [20][70] - Management emphasized the importance of maintaining rigorous cost discipline and agility in response to evolving market conditions [13][19] Other Important Information - The company returned $122 million to shareholders through share repurchases, consistent with its capital allocation priorities [19] - The company launched nine new products during the quarter, including innovative gaming and business solutions [9][10] Q&A Session Summary Question: Consumer reaction to price actions - Management noted a positive impact of price increases in the first quarter, contributing 50 basis points to growth, but it was too early to assess the full consumer reaction [24][25] Question: Strength of video collaboration business - Management expressed confidence in the sustainability of the 13% growth in video collaboration, although some pull-in demand may have occurred ahead of tariffs [28] Question: Economic impact of growing B2B mix - Management confirmed strong demand in the B2B segment, outpacing consumer demand, and highlighted the positive margin contribution from video conferencing products [33][34] Question: Inventory strategy and cash flow - Management indicated a strategy to pull in inventory ahead of tariffs, resulting in a strong cash flow of $125 million from operations [60][61] Question: Guidance for gross margins - Management provided detailed guidance on gross margins, expecting a negative impact from tariffs offset by price increases, with a projected range of 41% to 42% [70][71] Question: Demand patterns in Q1 - Management reported high single-digit demand growth across both B2B and consumer segments, with broad-based strength in various product lines [45][46] Question: Market share and competition - Management noted share gains in key categories but anticipated a temporary softening of shares following price increases [49][50] Question: Future growth in gaming - Management expressed optimism about the gaming segment, citing strong growth in premium segments and a recovery in share in China [36][100]

Financial Data and Key Metrics Changes - Net sales grew by 5% year over year in constant currency, with strong demand across both consumer and B2B segments [14][4] - Non-GAAP gross margin for the quarter was 42.1%, reflecting a 120 basis points decline from the previous year due to tariffs and higher promotional spending [15][16] - Operating expenses decreased by 2% year over year, representing 24.5% of net sales, down from 26.5% [16][5] - Generated $125 million in cash from operations, ending the quarter with a cash balance of $1.5 billion [17] Business Line Data and Key Metrics Changes - Video collaboration segment saw a 13% year over year growth, driven by strong demand in North America [14] - Personal workspace grew by 6% year over year, with double-digit growth in webcams and tablet accessories [14] - Gaming segment experienced a 6% growth, with significant share growth in North America and a notable recovery in China [32][33] Market Data and Key Metrics Changes - Asia Pacific region grew by 15% year over year, led by strong demand in China [15] - EMEA region grew by 9%, while North America declined by 4% due to pauses in product shipments during price negotiations [15] Company Strategy and Development Direction - The company continues to focus on long-term strategies, emphasizing investment in research and development, which accounted for 6% of sales [4] - A strategic shift towards B2B is evident, with demand in this segment outpacing consumer demand, particularly in video conferencing [8] - The company aims to reduce the share of US products originating from China from 40% to 10% by the end of the calendar year [6] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate uncertainty, citing a globally balanced business model and a strong brand [11] - The company anticipates continued uncertainty regarding tariff policies and inflation, but remains committed to driving growth and market share gains [12][10] - Future net sales growth is expected to be between 1% to 5% year over year in constant currency for the second quarter [18] Other Important Information - The company launched nine new products during the quarter, including a wireless gaming headset and a digital pencil for virtual reality [7] - The company returned $122 million to shareholders through share repurchases, consistent with its capital allocation priorities [17] Q&A Session Summary Question: Consumer reaction to price actions - Management noted a positive impact of 50 basis points from price increases in the first quarter, but it is too early to assess consumer reaction fully [22][24] Question: Strength of video collaboration business - Management confirmed strong demand in North America, with a 13% growth in video collaboration, though some pull-in demand may have occurred ahead of tariffs [25][26] Question: B2B performance and economic impact - B2B demand outpaced consumer demand, with strong growth in video conferencing and education sectors [30] Question: Inventory strategy and cash flow - The company plans to continue leveraging its strong balance sheet to pull in inventory ahead of tariffs, maintaining a healthy cash flow [57][58] Question: Guidance for gross margins - Management provided guidance indicating a gross margin rate between 41% and 42%, factoring in tariff impacts and price increases [67][68] Question: Impact of tariffs on future quarters - The expected tariff impact for the second quarter is between 200 to 300 basis points, with ongoing monitoring of the situation [78][79] Question: Timing to reach top line growth target - Management indicated that while the company is close to its growth target, expansion into new verticals like healthcare and government will take time [108][109]

Exhibit 99.1 Editorial Contacts: Q2 FY26 outlook Kate Beerkens, Director 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 Logitech Announces Q1 Fiscal Year 2026 Results Strong First Quarter Underscores Company's Superior Innovation and Operational Excellence LAUSANNE, Switzerland, and SAN JOSE, Calif., July 29, 2025 — SIX Swiss Exchange Ad hoc announcemen ...

Investors with an interest in Computer - Peripheral Equipment stocks have likely encountered both LG Display (LPL) and Logitech (LOGI) . But which of these two stocks presents investors with the better value opportunity right now? Let's take a closer look.We have found that the best way to discover great value opportunities is to pair a strong Zacks Rank with a great grade in the Value category of our Style Scores system. The proven Zacks Rank puts an emphasis on earnings estimates and estimate revisions, w ...

Logitech (NASDAQ: LOGI ) is very well positioned, led by growth opportunities in its core markets (productivity peripherals, gaming, and video conferencing) and sound fundamentals with a balanced exposure in B2C (~60%) and B2B (~40%) markets. Their continuous effort towards product innovation & launches, and resilient consumer demand (despite pricing actions) reflects their brandI have over 13 years of diverse financial analysis experience across various sectors, including Auto, Industrials, and IT. Worked ...

Group 1 - The core investment thesis for Logitech (NASDAQ: LOGI) is a buy rating, driven by strong developments in the 3Q25 results, particularly in the VC segment and the introduction of AI-powered solutions [1] - The underlying demand for Logitech's products remains robust, indicating potential for continued growth [1] - The investment strategy focuses on long-term investments while also considering short-term opportunities to uncover alpha, emphasizing a bottom-up analysis of individual companies' fundamentals [1] Group 2 - The investment duration is medium to long-term, aiming to identify companies with solid fundamentals, sustainable competitive advantages, and growth potential [1]