Logitech International today announced financial results for the first quarter of Fiscal Year 2026.

• Sales were $1.15 billion, up 5 percent in US dollars and 5 percent in constant currency, compared to Q1 of the prior year.
• GAAP gross margin was 41.7 percent, down 110 basis points, compared to Q1 of the prior year. Non-GAAP gross margin was 42.1 percent, down 120 basis points, compared to Q1 of the prior year.
• GAAP operating income was $162 million, up 6 percent, compared to Q1 of the prior year. Non-GAAP operating income was $202 million, up 11 percent, compared to Q1 of the prior year.
• GAAP earnings per share (EPS) was $0.98, up 7 percent compared to Q1 of the prior year. Non-GAAP EPS was $1.26, up 12 percent compared to Q1 of the prior year.
• Cash flow from operations was $125 million. The quarter-ending cash balance was $1.5 billion.
• The Company returned $122 million of cash to shareholders through share repurchases.

"We delivered a strong first quarter - an encouraging start to the new fiscal year that underscores Logitech's resilience in a challenging environment," said Hanneke Faber, Logitech chief executive officer. "Our growth was driven by our strategic priorities and strong demand. Superior innovation drove growth in all key categories. We grew robustly both in our B2B and consumer channels. And we executed well across all regions - with notably strong performance in Asia Pacific."

"Our teams executed with excellence in the first quarter - we showed once again that Logitech thrives in uncertain times," said Matteo Anversa, Logitech chief financial officer. "Through our focus on playing offense, controlling costs and being agile, we delivered mid-single-digit sales growth year over year, with an expansion in non-GAAP operating margin of 80 basis points."

Outlook
Despite continued uncertainties in the operating environment, we are providing a financial outlook for the second quarter of FY26:Financial Results Videoconference and Webcast
Logitech will hold a financial results videoconference to discuss the results for Q1 Fiscal Year 2026 on Tuesday, July 29, 2025 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 2026 Shareholder Letter are also available there.