LOGITECH INTERNATIONAL S.A.
For the period ended Jun 30, 2025. Filed Jul 30, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Jul 30, 2025
LOGI$96.25-2.0%Stored close · as of Nov 6, 2026
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-12-31; filed 2025-01-29.
0001032975-25-000008
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-06-30; filed 2025-07-30.
0001032975-25-000059
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 180 previous paragraphs and 172 current paragraphs.
88 unchanged; 72 reworded; 12 added; 18 removed; 2 previous and 0 current paragraphs rearranged.
Tables are not compared: 10 previous and 10 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (12)
Current report
•Changes in trade regulations, policies and agreements and the imposition of tariffs that affect our products or operations, including potential new tariffs that may be imposed on U.S. imports, and our ability to mitigate;
Current report
Seasonality
Current report
We experience seasonal trends related to our product sales. Sales are generally highest during our third fiscal quarter (October to December) primarily due to increased consumer demand during the holiday season and increased spending by enterprises in the months nearing the calendar year-end. Cash flow is correspondingly lower in the first half of our fiscal year as we typically build inventories in advance of our third fiscal quarter and we also pay an annual dividend following our Annual General Meeting typically held in September.
Current report
Sales for the three months ended June 30, 2025 increased 16% and 12% in the Asia Pacific and EMEA regions, respectively, and decreased 5% in the Americas region, compared to the three months ended June 30, 2024.
Current report
Gross margin was 41.7% for the three months ended June 30, 2025 and decreased by 110 basis points, compared to the three months ended June 30, 2024, primarily driven by an unfavorable impact from increased tariffs, higher promotional spend and a prior year release in inventory reserves, partially offset by a favorable impact from price increases in North America and product cost reductions.
Current report
Gross margin was 41.7% for the three months ended June 30, 2025 and decreased by 110 basis points, compared to the three months ended June 30, 2024, primarily driven by an unfavorable impact from increased tariffs, higher promotional spend and a prior year release in inventory reserves, partially offset by a favorable impact from price increases in North America and product cost reductions.
Current report
Operating expenses remained relatively flat during thethree months ended June 30, 2025, compared to thethree months ended June 30, 2024, reflecting our efforts to reduce operating expenses in order to offset higher tariff costs.
Current report
During thethree months ended June 30, 2025, marketing and selling expenses remained relatively flat, compared to the three months ended June 30, 2024.
Current report
During the three months ended June 30, 2025, research and development expenses remained relatively flat, as we continued to invest in innovation at a similar level as compared to the three months ended June 30, 2024.
Current report
On July 4, 2025, the One Big Beautiful Bill Act (the "OBBBA") was enacted into law in the United States and will be generally effective for us beginning in fiscal year 2027. The OBBBA includes numerous provisions that affect corporate taxation, impacting areas such as R&D expensing, bonus depreciation, and international tax provisions. We have reviewed the provisions of the OBBBA to determine the potential impact on our financial statements. Based on this review, and considering our current tax position and operations, at this time we do not expect the OBBBA to have a material impact on our income taxes, including current and deferred tax balances and the effective tax rate. However, we are still in the process of evaluating the full impact of the OBBBA and any material changes to our assessment will be disclosed in future filings as required.
Current report
DPO for the three months ended June 30, 2025 decreased by 6 days to 74 days, compared to 80 days for the three months ended June 30, 2024, primarily due to timing of inventory purchases and improved demandin the Asia Pacific and EMEA regions.
Current report
ITO for the three months ended June 30, 2025 was 5.4, consistent with the three months ended June 30, 2024, reflecting our efforts to align inventory levels with demand.
Removed paragraphs (18)
Previous report
•Potential tariffs, their effects and our ability to mitigate their effects;
Previous report
•Climate change: Climate change affects everyone. We already consider sustainability as part of our product design and in other areas and intend to continue to do so in the future.
Previous report
•The importance of trust: With our well-established Logitech brand, consumer-centric design philosophy, and commitment to high privacy and security standards, we strive to deliver trusted user experiences.
Previous report
Business Seasonality and Product Introductions
Previous report
We have historically experienced higher sales in our third fiscal quarter ending December 31, compared to other fiscal quarters in our fiscal year, primarily due to the increased consumer demand for our products during the year-end holiday buying season and year-end spending by enterprises. Additionally, new product introductions and business acquisitions can significantly impact sales, product costs and operating expenses. Product introductions can also impact our sales to distribution channels as these channels are filled with new product inventory following a product introduction, and often channel inventory of an earlier model product declines as the next related major product launch approaches. Sales can also be affected when consumers and distributors anticipate a product introduction or changes in business circumstances. However, neither historical seasonal patterns nor historical patterns of product introductions should be considered reliable indicators of our future pattern of product introductions, future sales or financial performance. Furthermore, cash flow is correspondingly lower in the first half of our fiscal year as we typically build inventories in advance for the third quarter and we pay an annual dividend following our Annual General Meeting, which is typically in September.
Previous report
Sales for the three months ended December 31, 2024 increased 11%, 9%, and 3% in the Asia Pacific, EMEA, and Americas regions, respectively, compared to the three months ended December 31, 2023. Sales for the nine months ended December 31, 2024 increased 13%, 7%, and 5% in the EMEA, Asia Pacific, and Americas regions, respectively, compared to the nine months ended December 31, 2023.
Previous report
Gross margin was 42.9% and 43.1% for the three and nine months ended December 31, 2024, respectively, and increased by 90 and 230 basis points, respectively, compared to the three and nine months ended December 31, 2023, primarily driven by lower product costs, partially offset by higher promotional spending.
Previous report
Gross margin was 42.9% and 43.1% for the three and nine months ended December 31, 2024, respectively, and increased by 90 and 230 basis points, respectively, compared to the three and nine months ended December 31, 2023, primarily driven by lower product costs, partially offset by higher promotional spending.
Previous report
The increasein total operating expenses during thethree and nine months ended December 31, 2024, compared to thethree and nine months ended December 31, 2023, was primarily driven by an increase in marketing and selling expenses.
Previous report
During thethree and nine months ended December 31, 2024, marketing and selling expenses increased $27.9 million and $71.1 million, respectively, compared to the three and nine months ended December 31, 2023, primarily driven by increased investment in marketing and advertising and a provision for credit loss on accounts receivable recorded in the third quarter of fiscal year 2025.
Previous report
During the three and nine months ended December 31, 2024, research and development expenses increased $5.3 million and $17.7 million, respectively, compared to the three and nine months ended December 31, 2023, primarily driven by higher personnel-related costs and third party costs to support our increased investment in product innovation.
Previous report
The canton of Vaud completed the legislative process to enact TRAF, a reform to better align the Swiss tax system to international tax standards, on March 10, 2020 to take effect as of January 1, 2020. In March 2020, we increased the tax basis of goodwill, as a transition measure under TRAF, to be amortized over ten years beginning on January 1, 2020. During the three months ended December 31, 2023, we reached an agreement to remeasure the tax basis of goodwill under TRAF, which resulted in an income tax benefit of $25.1 million, net of assessment of uncertain tax positions. The remeasurement of the step-up will be amortized over the remaining ten-year amortization period.
Previous report
On December 29, 2023, a change to the cantonal tax legislation was published. According to the law approved by the Vaud parliament, a progressive scale will be applicable for cantonal tax purposes resulting in an increase from the then current tax rate of 13.61% to 14.28% effective fiscal year 2025. The increase in tax rate resulted in a tax benefit of $5.1 million due to a remeasurement of our Swiss deferred tax assets in the fiscal quarter ended December 31, 2023.
Previous report
The Tax Cuts and Jobs Act enacted Section 250, which provides for a deduction with respect to Global Intangible Low-Taxed Income ("GILTI") and FDII in the U.S. The application of this tax incentive is inherently complex. During the three months ended December 31, 2023, we analyzed the applicability of FDII and determined that this tax incentive applies to fiscal years 2021, 2022 and 2023. As a result, we realized a tax benefit of $17.9 million related to FDII. We have also concluded that any GILTI tax since the enactment of Tax Cuts and Jobs Act is immaterial.
Previous report
The BEPS Project undertaken by the OECD recommended changes to numerous long-standing tax principles, including a proposal to reallocate profits among tax jurisdictions in which companies do business (“Pillar One”) and establishing a minimum tax on global income (“Pillar Two”). Some jurisdictions, including Switzerland, where we operate are implementing Pillar Two laws to effectuate a 15% minimum tax. The minimum tax effective beginning in fiscal year 2025 for the Company, is treated as a current cost and does not have a material impact on the
Previous report
We file Swiss and foreign tax returns. We received final tax assessments in Switzerland through fiscal year 2023. For other material foreign jurisdictions such as the United States, we are generally not subject to tax examinations for years prior to fiscal year 2020 and calendar year 2020. In the United States, the federal and state tax agencies have the authority to examine periods prior to fiscal year 2020, to the extent allowed by law, where tax attributes were generated, carried forward, and being utilized in subsequent years. We are under examination in foreign tax jurisdictions. If the examinations are resolved unfavorably, there is a possibility that they may have a material negative impact on our results of operations.
Previous report
DPO for the three months ended December 31, 2024 increased by 3 days to 68 days, compared to 65 days for the three months ended December 31, 2023, primarily due to higher inventory purchases during the third quarter of fiscal year 2025 to align with demand.
Previous report
ITO for the three months ended December 31, 2024 decreased by 0.2 to 6.3, compared to 6.5 for the three months ended December 31, 2023, primarily due to higher inventory balances as of December 31, 2024.
Reworded paragraphs (72)
Previous wording
•Our business strategy and investment priorities in relation to competitive offerings and evolving consumer demand trends affecting our products and markets, current and future worldwide geopolitical, economic and capital market conditions, including fluctuations in currency exchange rates, changes in fiscal policies, inflation, economic downturns, and disruptions in global logistics;
Current wording
•Our business strategy and investment priorities in relation to evolving consumer and enterprise demand trends, competitive landscape and current and future worldwide geopolitical, economic and capital market conditions, including fluctuations in currency exchange rates, inflation, economic downturns, and disruptions in global logistics;
Previous wording
•Our expectations regarding any restructuring efforts, including the timing thereof;
Current wording
•Our expectations regarding any restructuring efforts, including the timing or effectiveness thereof;
Previous wording
•The scope, nature or impact of acquisition, strategic alliance, and divestiture activities;
Current wording
•The scope, nature or impact of any acquisition, strategic alliance, and divestiture activities;
Previous wording
•Our expectations regarding the success of our strategic acquisitions, including integration of acquired operations, products, technology, internal controls, personnel and management teams;
Current wording
•Our expectations regarding the success of any strategic acquisitions, including integration of acquired operations, products, technology, internal controls, personnel and management teams;
Previous wording
•Our expectations regarding our effective tax rate, future tax benefits, tax settlements, the adequacy of our provisions for uncertain tax positions;
Current wording
•Our expectations regarding our effective tax rate, future tax benefits, tax settlements, and the adequacy of our provisions for uncertain tax positions;
Previous wording
•The sufficiency of our cash and cash equivalents, cash generated from operations, and available borrowings under our Credit Agreement and bank lines of credit to fund capital expenditures and working capital needs, and our ability to comply with our obligations under such debt agreements; and
Current wording
•The sufficiency of our cash and cash equivalents, cash generated from operations, and available borrowings under our Credit Agreement and our bank lines of credit to fund capital expenditures and working capital needs, and our ability to comply with our obligations under such debt agreements; and
Previous wording
Logitech designs software-enabled hardware solutions that help businesses thrive and bring people together when working, creating, gaming and streaming. As a 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. We sell these products through a number of brands, including Logitech, Logitech G and others.
Current wording
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. We sell the vast majority of our products under Logitech and Logitech G brand names.
Previous wording
Our diverse portfolio includes: Gaming, Keyboards & Combos, Pointing Devices, Video Collaboration, Webcams, Tablet Accessories, and Headsets. These products are all classified under a single operating segment: Peripherals (see Note 12 to our condensed consolidated financial statements).
Current wording
Our diverse, innovative portfolio includes: Gaming, Keyboards & Combos, Pointing Devices, Video Collaboration, Webcams, Tablet Accessories, and Headsets. These products are all classified under a single operating segment: Peripherals (see Note 12 to our condensed consolidated financial statements).
Previous wording
We sell our products to a broad network of international customers in the Americas, Europe, the Middle East and Africa (“EMEA”) and Asia Pacific. This includes direct sales to retailers, e-tailers, and end consumers through our e-commerce platform, and indirect sales to end customers through distributors.
Current wording
We sell our products to a broad range of international customers, in the Americas, Europe, the Middle East and Africa (“EMEA”) and Asia Pacific. This includes direct sales to retailers, e-tailers, businesses large and small and end consumers through our e-commerce platform, and indirect sales to end customers through distributors.
Previous wording
Our business has continued to be impacted by macroeconomic and geopolitical conditions. These conditions include inflation, interest rate and foreign currency fluctuations, changes in fiscal policies, geopolitical conflicts, low economic growth in certain regions, and uncertainty in consumer and enterprise demand. In addition, our business may be adversely impacted by the potential expansion of tariffs on goods imported into the U.S., as well as responsive or related policies enacted in other countries.
Current wording
In 2025, the United States introduced trade policy actions that have increased import tariffs across a wide range of countries at various rates, with certain exemptions. These tariff policies in the U.S. and responsive policies enacted in other countries are evolving. The incremental tariffs have had and may continue to have an adverse impact on our result of operations. In addition, our business has continued to be impacted by ongoing macroeconomic and geopolitical conditions. These conditions include inflation, interest rate and foreign currency fluctuations, uncertainty in consumer and enterprise demand, low economic growth in certain regions, changes in fiscal policies and geopolitical conflicts.
Previous wording
The global and regional economic and political conditions have caused and may continue to cause volatility in demand for our products as well as cost of materials and logistics, and transportation delays, and as a result may impact the pricing of our products, product availability and our results of operations.
Current wording
The global and regional economic and political conditions, as well as changes in trade policies, have caused and may continue to cause volatility in demand for our products as well as cost of tariffs, materials and logistics, and transportation delays, and as a result have impacted and may continue to impact the pricing of our products, product availability and our results of operations.
Previous wording
•Hybrid work: Hybrid work provides an opportunity to equip multiple workspaces including in the office and other places of work, as well as at home and away from home. Hybrid work also provides an opportunity for increased enterprise and consumer adoption of video conferencing. Our video collaboration products are compatible with a variety of video conference platforms, including Zoom, Microsoft Teams and Google Meet.
Current wording
•New ways of working: The new ways of working that have emerged after the pandemic in which people are splitting time between working in the office, from home, and from other places while on the go, provide opportunities for Logitech to equip multiple workspaces with products across our portfolio including Pointing Devices, Keyboards & Combos, Tablet Accessories, Headsets and Webcams. The new ways of working also provide an opportunity for increased adoption of video conferencing by enterprises and consumers. Our video collaboration products are compatible with a variety of video conference platforms, including Zoom, Microsoft Teams and Google Meet.
Previous wording
•Gaming: The ongoing growth and evolution of gaming creates an opportunity for us to provide more tools to a wider community of gamers. In particular, social gaming continues to gain popularity through online gaming, multi-platform experiences and esports.
Current wording
•Gaming growth: The ongoing growth and evolution of gaming creates an opportunity for us to provide more tools to a wider community of gamers. In particular, social gaming continues to gain popularity through online gaming, multi-platform experiences and esports.
Previous wording
While we believe we will further benefit from these secular trends, we have experienced and will continue to experience challenges that impact our business and financial results. These challenges include (i) the current macroeconomic environment, including interest rate fluctuations, inflation, foreign exchange movements, changes in fiscal policies and low economic growth in certain regions, (ii) the uncertainty with overall consumer and enterprise demand, (iii) the uncertainty with enterprise strategy for office space utilization and related timing of enterprise investments in infrastructure and technology, and (iv) the timing of further development of our B2B go-to-market capabilities.
Current wording
While we believe we will further benefit from these secular trends, we have experienced and will continue to experience challenges that impact our business and financial results. These challenges include (i) uncertainty in tariffs on goods imported into the U.S. and responsive policies enacted by other countries, (ii) the macroeconomic environment, including inflation, interest rate and foreign currency fluctuations, low economic growth in certain regions, changes in fiscal policies and geopolitical conflicts, (iii) the uncertainty of overall consumer and enterprise demand, (iv) the uncertainty of timing of enterprise investments in infrastructure and technology, and (v) the timing of further development of our B2B go-to-market capabilities.
Previous wording
We expect these challenges to continue in the near-term. We have taken steps to mitigate the impact of these challenges, including but not limited to: (i) maintaining discipline in our operating expenses, (ii) managing inventory levels to align with demand, (iii) continued investment in our B2B capabilities, and (iv) release of new products to increase the value proposition of our portfolio.
Current wording
We expect these challenges to continue in the near-term. We have taken steps to mitigate the impact of these challenges, including but not limited to: (i) continued diversification of our manufacturing footprint and supplier ecosystem, (ii) maintaining discipline in our operating expenses, (iii) managing inventory levels to align with demand, (iv) continued investment in our B2B capabilities, and (v) continued release of new products to increase the value proposition of our portfolio.
Previous wording
Our sales for thethree months ended December 31, 2024 increased 7%, compared tothe three months ended December 31, 2023, primarily due to an increase in sales in Gaming and Tablet Accessories. Our sales forthe nine months ended December 31, 2024 increased 8%, compared tothe nine months ended December 31, 2023, primarily due to an increase in sales in Gaming, Keyboards & Combos, and Tablet Accessories. The sales inthe three- and nine- month periods benefited from improved demand.
Current wording
Our sales for thethree months ended June 30, 2025 increased 5%, compared tothe three months ended June 30, 2024, primarily due to an increase in sales of Video Collaboration, Tablet Accessories and Webcams. Our sales for the three months ended June 30, 2025, compared to three months ended June 30, 2024, benefited from improved demand in the Asia Pacific and EMEA regions.
Previous wording
Operating expenses for the three months ended December 31, 2024 were $339.9 million, or 25.4% of sales, compared to $304.7 million, or 24.3% of sales, for the three months ended December 31, 2023. Operating expenses for the nine months ended December 31, 2024 were $977.8 million, or 27.6% of sales, compared to $883.9 million, or 26.9% of sales, for the nine months ended December 31, 2023. The increase in operating expense was primarily driven by an increase in marketing and advertising spend.
Current wording
Operating expenses for the three months ended June 30, 2025 were $316.9 million, or 27.6% of sales, compared to $312.8 million, or 28.7% of sales, for the three months ended June 30, 2024.
Previous wording
We had an income tax provision of$45.1 million and an income tax benefit of$9.6 million for thethree months ended December 31, 2024 and December 31, 2023, respectively. We had an income tax provision of$101.2 million and $33.3 million for the nine months ended December 31, 2024 and December 31, 2023, respectively. The change in the income tax provisionfor the three and nine months ended December 31, 2024, compared to the three and nine months ended December 31, 2023, respectively, was primarily due to the mix of income and losses in the various tax jurisdictions in which we operate and unrecognized tax benefits due to uncertain tax positions compared with the discrete tax benefits recognized in the prior period to remeasure the tax basis of goodwill under the Swiss Federal Act on Tax Reform and AHV Financing ("TRAF"), remeasurement of our Swiss deferred tax assets due to a change in tax rate, and Foreign Derived Intangible Income ("FDII") incentive provided by the Tax Cuts and Jobs Act.
Current wording
We had an income tax provision of$28.5 million and$25.6 million for thethree months ended June 30, 2025 and June 30, 2024, respectively.
Previous wording
Net income for the three and nine months ended December 31, 2024 was $200.1 million and$487.5 million, respectively, compared to$244.7 million and $444.5 million, for the three and nine months ended December 31, 2023, respectively.
Current wording
Net income for the three months ended June 30, 2025 was $146.0 million, compared to$141.8 millionfor the three months ended June 30, 2024.
Previous wording
We believe that the assumptions, judgments and estimates involved in the accounting for accruals for customer incentives and related breakage when appropriate, accrued sales return liability, inventory valuation, and uncertain tax positions, have the greatest potential impact on our condensed consolidated financial statements. These areas are key components of our results of operations and are based on complex rules requiring us to make judgments and estimates and consequently, we consider these to be our critical accounting policies. Historically, our assumptions, judgments and estimates relative to our critical accounting policies have not differed materially from actual results.
Current wording
We believe that the assumptions, judgments and estimates involved in the accounting for accruals for customer incentives and related breakage, accrued sales return liability, inventory valuation, and uncertain tax positions, have the greatest potential impact on our condensed consolidated financial statements. These areas are key components of our results of operations and are based on complex rules requiring us to make judgments and estimates and consequently, we consider these to be our critical accounting policies. Historically, our assumptions, judgments and estimates relative to our critical accounting policies have not differed materially from actual results.
Previous wording
There have been no material changes in our critical accounting estimates during the nine months ended December 31, 2024 compared with the critical accounting estimates disclosed in Management's Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2024.
Current wording
There have been no material changes in our critical accounting estimates during the three months ended June 30, 2025 compared with the critical accounting estimates disclosed in Management's Discussion and Analysis of Financial Condition and Results of Operations included in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025.
Previous wording
Refer to Note 1 to the condensed consolidated financial statements included in this Quarterly Report on Form 10-Q for recent accounting pronouncements to be adopted.
Current wording
Refer to Note 1 to the condensed consolidated financial statements included in this Quarterly Report on Form 10-Q for new accounting pronouncements to be adopted.
Previous wording
Our sales for thethree months ended December 31, 2024 increased 7%, compared tothe three months ended December 31, 2023, primarily due to an increase in sales in Gaming and Tablet Accessories. Our sales forthe nine months ended December 31, 2024 increased 8%, compared tothe nine months ended December 31, 2023, primarily due to an increase in sales in Gaming, Keyboards & Combos, and Tablet Accessories. The sales inthe three- and nine-month periods benefited from improved demand. If currency exchange rates had been constant in the three and nine months ended December 31, 2024 and 2023, our sales growth rates in constant currency would have been 6% and 8%, respectively.
Current wording
Our sales for thethree months ended June 30, 2025 increased 5%, compared tothe three months ended June 30, 2024, primarily due to an increase in sales of Video Collaboration, Tablet Accessories and Webcams. Our sales for the three months ended June 30, 2025, compared to three months ended June 30, 2024, benefited from improved demand in the Asia Pacific and EMEA regions. If currency exchange rates had been constant in the three months ended June 30, 2025 and 2024, our sales growth rate in constant currency would have been 5%.
Previous wording
Although our financial results are reported in U.S. Dollars, a portion of our sales was generated in currencies other than the U.S. Dollar, such as the Euro, Chinese Renminbi, Australian Dollar, Canadian Dollar, Japanese Yen, Pound Sterling and New Taiwan Dollar. During the three months ended December 31, 2024, approximately 52% of our sales were denominated in currencies other than the U.S. Dollar.
Current wording
Although our financial results are reported in U.S. Dollars, a portion of our sales was generated in currencies other than the U.S. Dollar, such as the Euro, Chinese Renminbi, Japanese Yen, Australian Dollar, Canadian Dollar, Pound Sterling and New Taiwan Dollar. During the three months ended June 30, 2025, approximately 53% of our sales were denominated in currencies other than the U.S. Dollar.
Previous wording
The following table presents the change in sales by region for the three and nine months ended December 31, 2024, compared with the three and nine months ended December 31, 2023:
Current wording
The following table presents the change in sales by region for the three months ended June 30, 2025, compared with the three months ended June 30, 2024:
Previous wording
Theincrease in sales in the Americas region for the three-month period presented above was primarily driven by an increase in sales for Gamingand Video Collaboration, partially offset by a decrease in sales for Keyboards & Combos. Theincrease in sales in the Americas region for the nine-month period presented above was primarily driven by an increase in sales for Gaming, Tablet Accessories, and Keyboards & Combos.
Current wording
The decrease in sales in the Americas region for the three-month period presented above was primarily driven by a decrease in sales of Gaming.
Previous wording
The increase in sales in the EMEA region for the three-month period presented above was primarily driven by an increase in sales for Gaming and Keyboards & Combos. Theincrease in sales in the EMEA region for the nine-month period presented above was primarily driven by an increase in sales for Gaming, Keyboards & Combos, and Pointing Devices.
Current wording
The increase in sales in the EMEA region for the three-month period presented above was primarily driven by an increase in sales of Gaming, Video Collaboration, Keyboards & Combos, and Tablet Accessories.
Previous wording
The increase in sales in the Asia Pacific region for the three- and nine-month periods presented above was primarily driven by an increase in sales for Gaming and Tablet Accessories.
Current wording
The increase in sales in the Asia Pacific region for the three-month period presented above was primarily driven by an increase in sales for Gaming and Tablet Accessories.
Previous wording
Sales by product category for the three and nine months ended December 31, 2024 and 2023 were as follows (dollars in thousands):
Current wording
Sales by product category for the three months ended June 30, 2025 and 2024 were as follows (Dollars in thousands):
Previous wording
Our Gaming category includes gaming mice, steering wheels, headsets, keyboards, console gaming headsets, studio-quality Blue Microphones and Streamlabs services.
Current wording
Our Gaming category includes gaming mice, steering wheels, headsets, keyboards, console gaming headsets, microphones and Streamlabs services.
Previous wording
Sales of Gaming increased 14% and 12%for thethree and nine months ended December 31, 2024, respectively, compared to thethree and nine months ended December 31, 2023, primarily driven by an increase in sales of gaming mice and gaming steering wheels.
Current wording
Sales of Gaming increased 2%for thethree months ended June 30, 2025, compared to thethree months ended June 30, 2024, primarily driven by an increase in sales of gaming mice, partially offset by decreases in sales of other gaming products.
Previous wording
Sales of Keyboards & Combos increased 3% and 9% for thethree and nine months ended December 31, 2024, respectively, compared to thethree and nine months ended December 31, 2023, primarily driven by an increase in sales of cordless combo products.
Current wording
Sales of Keyboards & Combos increased 3% for thethree months ended June 30, 2025, compared to thethree months ended June 30, 2024, primarily driven by an increase in sales of cordless combo products.
Previous wording
Sales of Pointing Devices increased 5% for each of the three and nine months ended December 31, 2024, compared to the three and nine months ended December 31, 2023, primarily driven by an increase in sales of cordless mice.
Current wording
Sales of Pointing Devices increased 3% for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily driven by an increase in sales of cordless mice.
Previous wording
Sales of Video Collaboration increased 4% and 5% for the three and nine months ended December 31, 2024, respectively, compared to thethree and nine months ended December 31, 2023, primarily due to an increase in sales of conference room cameras as well as an increase in services revenue.
Current wording
Sales of Video Collaboration increased 13% for the three months ended June 30, 2025, compared to thethree months ended June 30, 2024, primarily due to an increase in sales of conference room cameras.
Previous wording
Our Webcams category includes PC-based webcams that are targeted primarily at consumers, including streaming cameras, and VC webcams that turn any desktop into an instant collaboration space.
Current wording
Our Webcams category includes PC-based webcams including streaming cameras, and VC webcams that turn any desktop into an instant collaboration space.
Previous wording
Sales of Webcams decreased 2% and 5% for the three and nine months ended December 31, 2024, respectively, compared to the three and nine months ended December 31, 2023, primarily driven by a decrease in sales of our VC webcams, partially offset by an increase of sales of our PC-based webcams.
Current wording
Sales of Webcams increased 16% for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily driven by an increase in sales of our PC-based webcams.
Previous wording
Sales of Tablet Accessories increased 21% and 22% for the three and nine months ended December 31, 2024, respectively, compared to the three and nine months ended December 31, 2023, primarily driven by an increase in sales of Rugged Combo 4 and Rugged Combo 4 Touch as well as sales from our Combo Touch products for the new releases of iPad Air and iPad Pro that were launched in fiscal year 2025. Sales of Tablet Accessoriesfor the three and nine months ended December 31, 2024, compared to the three and nine months ended December 31, 2023, benefited from strong demand from the education sector.
Current wording
Sales of Tablet Accessories increased 16% for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily benefiting from strong demand from the education sector.
Previous wording
Sales of Headsets increased 10% and 11% for the three and nine months ended December 31, 2024, respectively, compared to the three and nine months ended December 31, 2023, primarily driven by an increase in sales of PC headsets and VC headsets.
Current wording
Sales of Headsets increased 3% for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily driven by an increase in sales of VC headsets.
Previous wording
Sales in Other category decreased 27% and 13% for the three and nine months ended December 31, 2024, respectively, compared to the three and nine months ended December 31, 2023, primarily driven by a decline in sales of mobile speakers.
Current wording
Sales in Other category decreased 16% for the three months ended June 30, 2025, compared to the three months ended June 30, 2024, primarily driven by a decline in sales of mobile speakers.
Previous wording
Gross profit for the three and nine months ended December 31, 2024 and 2023 was as follows (dollars in thousands):
Current wording
Gross profit for the three months ended June 30, 2025 and 2024 was as follows (Dollars in thousands):
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Rearranged previous paragraphs (2)
Previous report — wording carried elsewhere
The loss for the nine months ended December 31, 2024 was primarily due to fluctuations in currency exchange rates of the Chinese Renminbi, Mexican Peso, and Brazilian Real against the U.S. Dollar. The loss for the nine months ended December 31, 2023 was primarily due to fluctuations in the currency exchange rates of the Chinese Renminbi, Brazilian Real, and Australian Dollar against the U.S. Dollar.
Previous report — wording carried elsewhere
Opportunistic purchases may be started or stopped at any time without prior notice depending on market conditions and other factors.