LOGITECH INTERNATIONAL S.A.
For the period ended Dec 31, 2025. Filed Jan 28, 2026.
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.
Dec 31, 2025 · Filed Jan 28, 2026
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 2025-09-30; filed 2025-10-29.
0001032975-25-000080
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-12-31; filed 2026-01-28.
0001032975-26-000011
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 173 previous paragraphs and 174 current paragraphs.
110 unchanged; 58 reworded; 6 added; 4 removed; 1 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 (6)
Current report
•The availability and pricing of components used to manufacture our products;
Current report
Sales of Headsets remained relatively flat for the three and nine months ended December 31, 2025, compared to the three and nine months ended December 31, 2024.
Current report
Operating expenses for the three and nine months ended December 31, 2025 and 2024 were as follows (Dollars in thousands):
Current report
The decreasein total operating expenses during thethree and nine months ended December 31, 2025, compared to thethree and nine months ended December 31, 2024, was primarily driven by a decrease in marketing and selling expenses.
Current report
During thethree and nine months ended December 31, 2025, marketing and selling expenses decreased $10.2 million and $14.2 million, compared to the three and nine months ended December 31, 2024, respectively, primarily due to a provision for credit loss on accounts receivable recorded in the third quarter of fiscal year 2025. The decrease in marketing and selling expenses for the three-month period was partially offset by an increase in third party marketing and advertising spend.
Current report
On January 5, 2026, the OECD released an Administrative Guidance package. This package includes a “Side-by-Side” System designed to align the U.S. tax regime with Pillar Two for U.S.-parented multinational groups, effective for tax years beginning on or after January 1, 2026. As we are a non-U.S. headquartered multinational, the “Side-by-Side” System itself does not apply to our tax profile. However, the broader guidance package also introduces a new permanent safe harbor (to replace the transitional CbCR safe harbor for fiscal years beginning in 2027) and a one-year extension of the transitional CbCR safe harbor that may potentially impact our Pillar Two compliance and reporting. We continue to monitor these developments but do not expect a material change to our Pillar Two liability.
Removed paragraphs (4)
Previous report
Sales of Headsets decreased 7% and 2% for the three and six months ended September 30, 2025, compared to the three and six months ended September 30, 2024, respectively, primarily driven by a decrease in sales of corded PC headsets.
Previous report
Operating expenses for the three and six months ended September 30, 2025 and 2024 were as follows (Dollars in thousands):
Previous report
Operating expenses remained relatively flat during thethree and six months ended September 30, 2025, compared to thethree and six months ended September 30, 2024, reflecting our efforts to reduce operating expenses in order to offset higher tariff costs.
Previous report
During thethree and six months ended September 30, 2025, marketing and selling expenses remained relatively flat, compared to the three and six months ended September 30, 2024, respectively.
Reworded paragraphs (58)
Previous wording
Impacts of Macroeconomic and Geopolitical Conditions on our Business
Current wording
Impacts of Macroeconomic, Geopolitical, and Other Factors on our Business
Previous 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 results 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.
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 results of operations. We may also be affected by the increases in demand for memory chips and other components caused by the build out of new AI technologies and data centers, leading to a rise in prices for such components and suppliers transitioning away from supplying certain components utilized in the manufacturing of some of our Video Collaboration products. 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, 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.
Current wording
The global and regional macroeconomic and political conditions, as well as changes in trade policies and memory supply, have caused and may continue to cause volatility in demand for our products, component availability, transit times and cost of our products including cost of tariffs, materials, and logistics, 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
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.
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) uncertainty in supply and pricing of memory chips and other components, (iii) the macroeconomic environment, including inflation, interest rate and foreign currency fluctuations, low economic growth in certain regions, changes in fiscal policies and geopolitical conflicts, (iv) the uncertainty of overall consumer and enterprise demand, (v) the uncertainty of timing of enterprise investments in infrastructure and technology, and (vi) the timing of further development of our B2B go-to-market capabilities.
Previous wording
Our sales were $1,186.1 million and $2,333.8 million for the three and six months ended September 30, 2025, respectively, an increase of 6% compared to $1,116.0 million and $2,204.3 million for the three and six months ended September 30, 2024, respectively, primarily due to an increase in sales for Keyboards & Combos, Pointing Devices, and Gaming. Our sales forthe three and six months ended September 30, 2025, compared to the same periods ended September 30, 2024, benefited from improved demand in the Asia Pacific and EMEA regions.
Current wording
Our sales were $1,421.5 million and $3,755.2 million for the three and nine months ended December 31, 2025, respectively, an increase of 6% compared to $1,340.3 million and $3,544.5 million for the three and nine months ended December 31, 2024, respectively, primarily due to an increase in sales for Pointing Devices, Keyboards & Combos, Video Collaboration, Gaming, and Tablet Accessories. Our sales forthe three and nine months ended December 31, 2025, compared to the same periods ended December 31, 2024, benefited from improved demand in the Asia Pacific and EMEA regions as well as favorable foreign currency exchange rate changes.
Previous wording
Sales for the three months ended September 30, 2025 increased 20% and 9% in the Asia Pacific and EMEA regions, respectively, and decreased 4% in the Americas region, compared to the three months ended September 30, 2024. Sales for the six months ended September 30, 2025 increased 18% and 10% in the Asia Pacific and EMEA regions, respectively, and decreased 4% in the Americas region, compared to the six months ended September 30, 2024.
Current wording
Sales for the three months ended December 31, 2025 increased 14%, 7%, and 1% in the Asia Pacific, EMEA, and Americas regions, respectively, compared to the three months ended December 31, 2024. Sales for the nine months ended December 31, 2025 increased 17% and 9% in the Asia Pacific and EMEA regions, respectively, and decreased 3% in the Americas region, compared to the nine months ended December 31, 2024.
Previous wording
Gross margin was 43.4% for the three months ended September 30, 2025 and decreased by 20 basis points, compared to the three months ended September 30, 2024. Gross margin was 42.6% for the six months ended September 30, 2025 and decreased by 60 basis points, compared to the six months ended September 30, 2024. The decrease in gross margin for both the three-month and six-month periods was primarily driven by higher promotional spend and increased tariffs, partially offset by favorable impacts from product cost reductions and price increases in North America.
Current wording
Gross margin was 43.2% for the three months ended December 31, 2025 and increased by 30 basis points from 42.9% for the three months ended December 31, 2024. Gross margin was 42.8% for the nine months ended December 31, 2025 and decreased by 30 basis points from 43.1% for the nine months ended December 31, 2024. The increase in gross margin for the three-month period was primarily driven by product cost reductions, price increases in North America, and favorable foreign currency exchange rate changes, partially offset by investment in strategic promotions and increased tariffs. Gross margin decreased during the nine-month period due to investment in strategic promotions and increased tariffs, partially offset by product cost reductions and price increases in North America.
Previous wording
Operating expenses for the three months ended September 30, 2025 were $323.2 million, or 27.2% of sales, compared to $325.2 million, or 29.1% of sales, for the three months ended September 30, 2024. Operating expenses for the six months ended September 30, 2025 were $640.0 million, or 27.4% of sales, compared to $638.0 million, or 28.9% of sales, for the six months ended September 30, 2024.
Current wording
Operating expenses for the three months ended December 31, 2025 were $328.6 million, or 23.1% of sales, compared to $339.9 million, or 25.4% of sales, for the three months ended December 31, 2024. Operating expenses for the nine months ended December 31, 2025 were $968.7 million, or 25.8% of sales, compared to $977.8 million, or 27.6% of sales, for the nine months ended December 31, 2024.
Previous wording
We had an income tax provision of$32.4 million and$30.6 million for thethree months ended September 30, 2025 and 2024, respectively. We had an income tax provision of$60.9 million and $56.1 million for the six months ended September 30, 2025 and 2024, respectively.
Current wording
We had an income tax provision of$48.1 million and$45.1 million for thethree months ended December 31, 2025 and 2024, respectively. We had an income tax provision of$108.9 million and $101.2 million for the nine months ended December 31, 2025 and 2024, respectively.
Previous wording
Net income for the three and six months ended September 30, 2025 was $170.7 million and $316.7 million, respectively, compared to$145.5 million and $287.3 million, for the three and six months ended September 30, 2024, respectively.
Current wording
Net income for the three and nine months ended December 31, 2025 was $251.0 million and $567.7 million, respectively, compared to$200.1 million and $487.5 million, for the three and nine months ended December 31, 2024, respectively.
Previous wording
There have been no material changes in our critical accounting estimates during the six months ended September 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.
Current wording
There have been no material changes in our critical accounting estimates during the nine months ended December 31, 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
Our sales for the three and six months ended September 30, 2025 increased 6%, compared to the three and six months ended September 30, 2024, primarily due to an increase in sales for Keyboards & Combos, Pointing Devices, and Gaming. Our sales forthe three and six months ended September 30, 2025, compared to the same periods ended September 30, 2024, benefited from improved demand in the Asia Pacific and EMEA regions. If currency exchange rates had been constant in the three and six months ended September 30, 2025 and 2024, our sales growth rates in constant currency would have been 4% for both the three-month and six-month periods.
Current wording
Our sales for the three and nine months ended December 31, 2025 increased 6%, compared to the three and nine months ended December 31, 2024, primarily due to an increase in sales for Pointing Devices, Keyboards & Combos, Video Collaboration, Gaming, and Tablet Accessories. Our sales forthe three and nine months ended December 31, 2025, compared to the same periods ended December 31, 2024, benefited from improved demand in the Asia Pacific and EMEA regions as well as favorable foreign currency exchange rate changes. If currency exchange rates had been constant in each of the three and nine months ended December 31, 2025 and 2024, our sales growth rates in constant currency would have been 4% for both periods.
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, Japanese Yen, Australian Dollar, Canadian Dollar, Pound Sterling and Brazilian Real. During the three months ended September 30, 2025, approximately 53% 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 Brazilian Real. During the three months ended December 31, 2025, approximately 54% 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 six months ended September 30, 2025, compared with the three and six months ended September 30, 2024:
Current wording
The following table presents the change in sales by region for the three and nine months ended December 31, 2025, compared with the three and nine months ended December 31, 2024:
Previous wording
The decrease in sales in the Americas region for the three-month period presented above was primarily driven by a decrease in sales for Gaming and Tablet Accessories, offset by an increase in sales for Pointing Devices. The decrease in sales in the Americas region for the six-month period presented above was primarily driven by a decrease in sales for Gaming. The decline in Gaming sales in both the three-month and six-month periods resulted mainly from the competitive pricing environment in North America.
Current wording
The increase insales in the Americas region for the three-month period presented above was primarily driven by an increase in sales for Pointing Devices and Keyboards & Combos, offset by a decrease in sales for Gaming and mobile speakers. The decrease in sales in the Americas region for the nine-month period presented above was primarily driven by a decrease in sales for Gaming, partially offset by an increase in sales for Pointing Devices. The decline in Gaming sales in both the three-month and nine-month periods was primarily driven by a decline in the Gaming market and a competitive pricing environment in North America.
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 Keyboards & Combos, Pointing Devices, and Video Collaboration. The increase in sales in the EMEA region for the six-month period presented above was primarily driven by an increase in sales for Keyboards & Combos, Video Collaboration, Pointing Devices, and Gaming.
Current wording
The increase in sales in the EMEA region for the three- and nine-month periods presented above was primarily driven by an increase in sales for Keyboards & Combos, Video Collaboration and Pointing Devices.
Previous wording
The increase in sales in the Asia Pacific region for the three and six-month period 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- and nine-month periods 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 six months ended September 30, 2025 and 2024 were as follows (Dollars in thousands):
Current wording
Sales by product category for the three and nine months ended December 31, 2025 and 2024 were as follows (Dollars in thousands):
Previous wording
Sales of Gaming increased 8% and 5% for the three and six months ended September 30, 2025, compared to the three and six months ended September 30, 2024, respectively, primarily driven by an increase in sales of gaming mice, partially offset by decreases in other gaming products.
Current wording
Sales of Gaming increased 3% for the three months ended December 31, 2025, compared to the three months ended December 31, 2024, primarily driven by an increase in sales of gaming mice andsteering wheels, partially offset by decreases in other gaming products. Sales of Gaming increased 4% for the nine months ended December 31, 2025, compared to the nine months ended December 31, 2024, primarily driven by an increase in sales of gaming mice, partially offset by decreases in PC gaming headsets and console gaming headsets.
Previous wording
Sales of Keyboards & Combos increased 12% and 8% for the three and six months ended September 30, 2025, compared to the three and six months ended September 30, 2024, respectively, primarily driven by an increase in sales of cordless combo products.
Current wording
Sales of Keyboards & Combos increased 8% for each of the three and nine months ended December 31, 2025, compared to the three and nine months ended December 31, 2024, primarily driven by an increase in sales of cordless combo products and cordless keyboards.
Previous wording
Sales of Pointing Devices increased 13% and 8% for the three and six months ended September 30, 2025, compared to the three and six months ended September 30, 2024, respectively, primarily driven by an increase in sales of cordless mice.
Current wording
Sales of Pointing Devices increased 11% and 9% for the three and nine months ended December 31, 2025, compared to the three and nine months ended December 31, 2024, respectively, primarily driven by an increase in sales of cordless mice.
Previous wording
Sales of Video Collaboration increased 5% and 9% for the three and six months ended September 30, 2025, compared to the three and six months ended September 30, 2024, respectively, primarily due to an increase in sales of conference room cameras.
Current wording
Sales of Video Collaboration increased 10% and 9% for the three and nine months ended December 31, 2025, compared to the three and nine months ended December 31, 2024, respectively, primarily due to an increase in sales of conference room cameras.
Previous wording
Sales of Webcams increased 4% and 9% for the three and six months ended September 30, 2025, compared to the three and six months ended September 30, 2024, respectively, primarily driven by an increase in sales of our PC-based webcams, partially offset by a decrease in sales of our VC webcams and streaming cameras.
Current wording
Sales of Webcams decreased 3% for the three months ended December 31, 2025, compared to the three months ended December 31, 2024, primarily due to decreases in sales of our VC webcams and streaming cameras, partially offset by an increase in sales of our PC-based webcams. Sales of Webcams increased 5% for the nine months ended December 31, 2025, compared to the nine months ended December 31, 2024, primarily driven by an increase in sales of our PC-based webcams, partially offset by a decrease in sales of our VC webcams and streaming cameras.
Previous wording
Sales of Tablet Accessories remained relatively flat for the three months ended September 30, 2025, compared to the three months ended September 30, 2024. Sales of Tablet Accessories increased 7% for the six months ended September 30, 2025, compared to the six months ended September 30, 2024, primarily benefiting from strong demand from the education sector.
Current wording
Sales of Tablet Accessories increased 21% and 12% for the three and nine months ended December 31, 2025, compared to the three and nine months ended December 31, 2024, respectively, primarily benefiting from strong demand from the education sector.
Previous wording
Sales in Other category decreased 30% and 24% for the three and six months ended September 30, 2025, respectively, compared to the three and six months ended September 30, 2024, primarily driven by a decline in sales of mobile speakers.
Current wording
Sales in Other category decreased 22% and 23% for the three and nine months ended December 31, 2025, respectively, compared to the three and nine months ended December 31, 2024, primarily driven by a decline in sales of mobile speakers.
Previous wording
Gross profit for the three and six months ended September 30, 2025 and 2024 was as follows (Dollars in thousands):
Current wording
Gross profit for the three and nine months ended December 31, 2025 and 2024 was as follows (Dollars in thousands):
Previous wording
Gross margin was 43.4% for the three months ended September 30, 2025 and decreased by 20 basis points, compared to the three months ended September 30, 2024. Gross margin was 42.6% for the six months ended September 30, 2025 and decreased by 60 basis points, compared to the six months ended September 30, 2024. The decrease in gross margin for both the three-month and six-month periods was primarily driven by higher promotional spend and increased tariffs, partially offset by favorable impacts from product cost reductions and price increases in North America.
Current wording
Gross margin was 43.2% for the three months ended December 31, 2025 and increased by 30 basis points from 42.9% for the three months ended December 31, 2024. Gross margin was 42.8% for the nine months ended December 31, 2025 and decreased by 30 basis points from 43.1% for the nine months ended December 31, 2024. The increase in gross margin for the three-month period was primarily driven by product cost reductions, price increases in North America, and favorable foreign currency exchange rate changes, partially offset by investment in strategic promotions and increased tariffs. Gross margin decreased during the nine-month period due to investment in strategic promotions and increased tariffs, partially offset by product cost reductions and price increases in North America.
Previous wording
Research and development expenses consist of personnel and related overhead costs for contractors and outside consultants, supplies and materials, equipment depreciation and facilities costs, all associated with the design and development of new products and enhancements of existing products.
Current wording
Research and development expenses consist of personnel and related overhead costs, fees for contractors and outside consultants, supplies and materials, equipment depreciation and facilities costs, all associated with the design and development of new products and enhancements of existing products.
Previous wording
During the three and six months ended September 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 and six months ended September 30, 2024, respectively.
Current wording
During the three and nine months ended December 31, 2025, research and development expenses remained relatively flat, as we continued to invest in innovation at a similar level as compared to the three and nine months ended December 31, 2024, respectively.
Previous wording
General and administrative expenses primarily consist of personnel and related overhead, information technology, and facilities costs for the infrastructure functions such as finance, information systems, executives, human resources andlegal.
Current wording
General and administrative expenses primarily consist of personnel and related overhead costs, information technology, and facilities costs for the infrastructure functions such as finance, information systems, executives, human resources andlegal.
Previous wording
During the three months ended September 30, 2025, general and administrative expenses decreased $2.4 million, compared to the three months ended September 30, 2024, primarily driven by lower third-party spend resulting from our cost saving efforts. During the six months ended September 30, 2025, general and administrative expenses increased $2.0 million, compared to the six months ended September 30, 2024, primarily driven by higher performance-based stock compensation expense, partially offset by lower third-party spend.
Current wording
During the three months ended December 31, 2025, general and administrative expenses remained flat, compared to the three months ended December 31, 2024. During the nine months ended December 31, 2025, general and administrative expenses increased $1.8 million, compared to the nine months ended December 31, 2024, primarily driven by higher variable compensation expense, partially offset by lower third-party spend.
Previous wording
Amortization of intangible assets consists of amortization of acquired intangible assets, including customer relationships and trademarks and trade names. Acquisition-related costs include legal expenses, due diligence costs, and other professional costs incurred for business acquisitions.
Current wording
Amortization of intangible assets consists of amortization of acquired intangible assets, including developed technology, customer relationships, and trademarks and trade names. Acquisition-related costs include legal expenses, due diligence costs, and other professional costs incurred for business acquisitions.
Previous wording
During thethree and six months ended September 30, 2025, amortization of intangible assets and acquisition-related costs decreased $0.9 million and $1.0 million, respectively, compared to the three and six months ended September 30, 2024, driven by full amortization of certain intangible assets.
Current wording
During thethree and nine months ended December 31, 2025, amortization of intangible assets and acquisition-related costs decreased $1.7 million and $2.7 million, respectively, compared to the three and nine months ended December 31, 2024, driven by full amortization of certain intangible assets.
Previous wording
The restructuring charges, net, for the three and six months ended September 30, 2025 were related to costs incurred as a result of our restructuring plan initiated during the fourth quarter of fiscal year 2025, which is expected to be substantially completed in fiscal 2026. The restructuring charges, net, for the three and six months ended September 30, 2024, were related to costs incurred as a result of our restructuring plan initiated during fiscal year 2023, which was substantially completed during fiscal year 2024.
Current wording
The restructuring charges, net, for the three and nine months ended December 31, 2025 were related to costs incurred as a result of our restructuring plan initiated during the fourth quarter of fiscal year 2025, which is expected to be substantially completed in fiscal 2026. The restructuring charges, net, for the three and nine months ended December 31, 2024, were related to costs incurred as a result of our restructuring plan initiated during fiscal year 2023, which was substantially completed during fiscal year 2024.
Previous wording
Interest income for the three and six months ended September 30, 2025 and 2024 was as follows (in thousands):
Current wording
Interest income for the three and nine months ended December 31, 2025 and 2024 was as follows (in thousands):
Previous wording
We invest in highly liquid instruments with an original maturity of three months or less at the date of purchase, which are classified as cash equivalents. During the three and six months ended September 30, 2025, interest income decreased $2.8 million and $7.4 million, respectively, compared to the three and six months ended September 30, 2024, primarily driven by a decrease in interest rates.
Current wording
We invest in highly liquid instruments with an original maturity of three months or less at the date of purchase, which are classified as cash equivalents. During the three and nine months ended December 31, 2025, interest income decreased $1.2 million and $8.6 million, respectively, compared to the three and nine months ended December 31, 2024, primarily driven by a decrease in interest rates, partially offset by an increase in the cash equivalents balance.
Previous wording
Other income (expense), net, for the three and six months ended September 30, 2025 and 2024 was as follows (in thousands):
Current wording
Other income (expense), net, for the three and nine months ended December 31, 2025 and 2024 was as follows (in thousands):
Previous wording
Investment gain related to the deferred compensation plan represents earnings, gains, and losses on marketable securities related to a deferred compensation plan offered by one of our subsidiaries. The increase in investment gain for three and six months ended September 30, 2025, compared to the three and six months ended September 30, 2024, primarily relates to the change in market performance of the underlying securities.
Current wording
Investment gain related to the deferred compensation plan represents earnings, gains, and losses on marketable securities related to a deferred compensation plan offered by one of our subsidiaries. The increase in investment gain for three and nine months ended December 31, 2025, compared to the three and nine months ended December 31, 2024, primarily relates to the change in market performance of the underlying securities.
Previous wording
September 30, 2025 was primarily due to fluctuations in currency exchange rates of the New Taiwan dollar and Swiss Franc against the U.S. Dollar. The loss for the three months ended September 30, 2024 was primarily due to fluctuations in the currency exchange rates of the Chinese Renminbi against the U.S. Dollar. The loss for the six months ended September 30, 2024 was primarily due to fluctuations in currency exchange rates of the Chinese Renminbi and Mexican Peso against the U.S. Dollar.
Current wording
Currency exchange gain (loss), net, relates to balances denominated in currencies other than the functional currency in our subsidiaries, as well as the sale of currencies, and gains or losses recognized on currency exchange forward contracts. We do not speculate in currency positions, but we are alert to opportunities to maximize currency exchange gains and minimize currency exchange losses. The gain for the three months ended December 31, 2025 was not material and the loss for the nine months ended December 31, 2025 was primarily due to fluctuations in currency exchange rates of the Swiss Franc and New Taiwan dollar against the U.S. Dollar. The loss for the three months ended December 31, 2024 was primarily due to fluctuations in the currency exchange rates of the Australian Dollar, Japanese Yen, and Brazilian Real against the U.S. Dollar. 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.
Previous wording
Loss on investments, net, includes unrealized gain (loss) from the change in fair value of investments, income (loss) on equity-method investments and impairment of investments during the periods presented, as applicable. The loss on investments, net, for the three and six months ended September 30, 2025 and 2024 were not material.
Current wording
Gain (loss) on investments, net, includes the unrealized gain (loss) from the change in fair value of investments, income (loss) on equity-method investments and impairment of investments during the periods presented, as applicable. The gain (loss) on investments, net, for the three and nine months ended December 31, 2025 and 2024 were not material.
Showing the first 40 of 58 pairs. Open the source sections for the rest.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
Currency exchange loss, net, relates to balances denominated in currencies other than the functional currency in our subsidiaries, as well as the sale of currencies, and gains or losses recognized on currency exchange forward contracts. We do not speculate in currency positions, but we are alert to opportunities to maximize currency exchange gains and minimize currency exchange losses. The loss for the three and six months ended