LOGITECH INTERNATIONAL S.A.
For the period ended Jun 30, 2026. Filed Jul 29, 2026.
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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, 2026 · Filed Jul 29, 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 2025-12-31; filed 2026-01-28.
0001032975-26-000011
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2026-06-30; filed 2026-07-29.
0001032975-26-000050
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 174 previous paragraphs and 182 current paragraphs.
96 unchanged; 59 reworded; 25 added; 19 removed; 0 previous and 2 current paragraphs rearranged.
Tables are not compared: 10 previous and 9 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 (25)
Current report
•The impact of the incident in the manufacturing facilities of one of our semiconductor suppliers;
Current report
In 2025, the United States introduced trade policy actions that increased import tariffs across a wide range of countries at various rates, with certain exemptions. In February 2026, the U.S. Supreme Court issued a decision invalidating certain tariffs previously imposed under the International Emergency Economic Powers Act ("IEEPA"). In May 2026, the U.S. Customs and Border Protection ("CBP") began issuing refunds to companies that had applied for IEEPA tariff refunds. We received a full refund of $61 million for these tariffs invalidated by the Supreme Court, including $15 million during the first quarter of fiscal year 2027 and $46 million subsequent to quarter end. The $61 million refund was recorded as a reduction of cost of goods sold in our condensed consolidated statements of operations in the first quarter of fiscal year 2027.
Current report
Following the U.S. Supreme Court ruling, the U.S. government introduced temporary tariffs for a 150-day period beginning February 24, 2026, which were subsequently invalidated by the U.S. Court of International Trade, but remained in effect pending appeal. In July 2026, the U.S. government announced new tariffs under Section 301 of U.S. trade laws which became effective on July 24, 2026 when the temporary tariffs expired. U.S. tariff policies and international trade arrangements continue to evolve and have had, and may continue to have, a significant impact on our results of operations.
Current report
We have also been affected by the increases in demand for electronic components, including semiconductor chips, caused by the build out of new AI technologies and data centers, leading to shortages and rising prices for such components utilized in some of our products. In addition, in late June 2026, one of our semiconductor component suppliers experienced a serious incident at its manufacturing facilities, resulting in its temporary closure. We currently expect this facility closure will impact our ability to effectively meet demand for certain products in the second and third quarters of fiscal year 2027.
Current report
•AI: AI is reshaping expectations for product innovation, productivity improvements, and the evolution of digital technology ecosystems. AI is embedded in our innovation strategy and product development, enabling us to provide elevated audio, video, and other capabilities throughout our product portfolio, and we plan to continue to integrate AI into future products. Our products are also designed to help people increase productivity and improve performance, leveraging AI benefits across work and play. Logitech’s products are the connection between people and the digital world, providing a broad range of devices that facilitate interaction with AI. Our video collaboration products, webcams, headsets, mice and keyboards serve as the eyes, ears and hands of AI, providing the sensory channels through which our customers experience AI. In addition, we leverage AI internally to accelerate new product introductions, strengthen marketing effectiveness and optimize operational processes across our organization.
Current report
Our sales were $1,227.2 million for the three months ended June 30, 2026, an increase of 7% compared to $1,147.7 million for the three months ended June 30, 2025, primarily due to an increase in sales of Gaming, Pointing Devices, and Video Collaboration as well as favorable changes in foreign currency exchange rates.
Current report
Gross margin was 49.5% for the three months ended June 30, 2026 and increased by 780 basis points from 41.7% for the three months ended June 30, 2025, primarily driven by a benefit from tariff refunds, favorable foreign currency exchange rate changes, favorable product mix and product cost reduction, partially offset by investment in strategic promotions.
Current report
Operating expenses for the three months ended June 30, 2026 were $349.4 million, or 28.5% of sales, compared to $316.9 million, or 27.6% of sales, for the three months ended June 30, 2025, primarily driven by increases in marketing and selling expenses and research and development expenses.
Current report
The decrease in sales in the EMEA region for the three-month period presented above was primarily driven by a decrease in sales for Keyboards & Combos, Webcams, and Headsets, partially offset by an increase in sales for Video Collaboration and Tablet Accessories. Sales in the EMEA region were negatively impacted by the conflict in the Middle East and an overall market decline.
Current report
Sales of Gaming increased 12% for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily driven by an increase in sales of PC gaming mice, particularly PRO X2 SUPERSTRIKE launched in the fourth quarter of fiscal year 2026, as well as an increase in sales ofsteering wheels.
Current report
Sales of Keyboards & Combos increased 2% for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily driven by an increase in sales of wireless keyboards, partially offset by a decrease in sales of wired keyboards. The increase in sales for the three-month period was primarily driven by an increase in the Americas region, partially offset by a decrease in sales in the EMEA region.
Current report
Sales of Pointing Devices increased 16% for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily driven by an increase in sales of wireless mice, particularly MX Master 4 launched in the third quarter of fiscal year 2026. A continued mix shift to premium products in our portfolio contributed to sales growth in this category.
Current report
Sales of Webcams decreased 9% for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to a decrease in sales in the EMEA region.
Current report
Sales of Tablet Accessories decreased 2% for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to a decrease in sales in the Asia Pacific region, partially offset by an increase in sales in the EMEA region. The decline in Asia Pacific was primarily due to a large education deal in the prior year.
Current report
Sales of Headsets decreased 3% for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to a decrease in sales in the EMEA region, partially offset by an increase in sales in the Americas region.
Current report
Gross margin was 49.5% for the three months ended June 30, 2026 and increased by 780 basis points from 41.7% for the three months ended June 30, 2025, primarily driven by a benefit from tariff refunds, favorable foreign currency exchange rate changes, favorable product mix and product cost reduction, partially offset by investment in strategic promotions. We recognized $61 million of tariff refunds in our first quarter of fiscal year 2027, of which $15 million was received in cash within the quarter and $46 million was received subsequent to quarter end.
Current report
During thethree months ended June 30, 2026, marketing and selling expenses increased $23.9 million, compared to the three months ended June 30, 2025, primarily driven by strategic marketing investments across our product portfolio.
Current report
During the three months ended June 30, 2026, research and development expenses increased $10.0 million, compared to the three months ended June 30, 2025, primarily driven by increased investment in product innovation.
Current report
During thethree months ended June 30, 2026, non-service cost net pension income and other remained relatively flat, compared to thethree months ended June 30, 2025.
Current report
Following the enactment of the One Big Beautiful Bill Act ("OBBBA") on July 4, 2025, several corporate tax provisions became effective for us beginning in fiscal year 2027, including adjustments to domestic R&D expensing, bonus depreciation, and modified international frameworks. Based on our evaluation of these provisions, the final impact of the OBBBA is expected to be de minimis for fiscal year 2027 and will not materially impact our consolidated financial statements or effective tax rate.
Current report
Key Working Capital Metrics
Current report
DPO for the three months ended June 30, 2026 increased by 11 days to 85 days, compared to 74 days for the three months ended June 30, 2025, primarily due to the reduction in cost of goods sold resulting from refunds of IEEPA tariffs and higher inventory purchases to align with improved demand.
Current report
ITO for the three months ended June 30, 2026 decreased by 0.4 to 5.0, compared to 5.4 for the three months ended June 30, 2025, primarily due to the reduction in cost of goods sold resulting from refunds of IEEPA tariffs.
Current report
Cash Flow Activities
Current report
Operating Lease Obligations
Removed paragraphs (19)
Previous report
•AI: AI has reshaped expectations for productivity improvements, product innovation and technology ecosystem evolution. While we have used AI solutions and machine learning to enhance the features of different products in our portfolio, AI offers additional growth opportunities and risks as we work to integrate our capabilities with our ecosystem partners.
Previous report
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 report
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 report
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 report
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 report
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 report
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 report
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 report
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 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.
Previous report
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 report
Operating expenses for the three and nine months ended December 31, 2025 and 2024 were as follows (Dollars in thousands):
Previous 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.
Previous report
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 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.
Previous report
For the three months ended December 31, 2025, we assessed our exposure to the OECD Pillar Two global minimum tax rules. We have determined that, for the fiscal year 2026, most jurisdictions in which we operate should qualify for the transitional Country-by-Country Reporting ("CbCR") safe harbor, as outlined in the OECD Administrative Guidance and enacted domestic legislation. Our CbCR has been prepared in accordance with the requirements for a Qualified CbCR, using qualified financial statements. Based on this data, most jurisdictions continue to meet safe harbor qualifications at 16% tax rates, and therefore, we are only required to perform a detailed Pillar Two top-up tax calculation for limited jurisdictions. The estimated top up tax for fiscal year 2026 is not material and has been included in the calculation of our annual effective tax rate.
Previous report
DPO for the three months ended December 31, 2025 decreased by 2 days to 66 days, compared to 68 days for the three months ended December 31, 2024, primarily due to improved demand and strong inventory management.
Previous report
ITO for the three months ended December 31, 2025 increased by 0.9 to 7.2, compared to 6.3 for the three months ended December 31, 2024, due to improved demand and lower ending inventories.
Previous report
Operating Leases Obligations
Reworded paragraphs (59)
Previous wording
•Changes in trade regulations, policies and agreements and the imposition of tariffs or other trade restrictions that affect our products or operations, including potential new tariffs that may be imposed on U.S. imports, and our ability to mitigate;
Current wording
•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;
Previous wording
•Our expectations regarding our effective tax rate, future tax benefits, tax settlements, and the adequacy of our provisions for uncertain tax positions;
Current wording
•Our expectations regarding our effective tax rate, future tax benefits, tax settlements, the adequacy of our provisions for uncertain tax positions;
Previous wording
Forward-looking statements also include, among others, statements that include the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should,” “will,” and similar language. These statements reflect our views and assumptions as of the date of this Quarterly Report on Form 10-Q. All forward-looking statements involve risks and uncertainties that could cause our actual performance to differ materially from those anticipated in the forward-looking statements depending on a variety of factors. Important information as to these factors can be found in this Quarterly Report on Form 10-Q under the headings of “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Company Overview,” “Critical Accounting Estimates,” and “Liquidity and Capital Resources,” among others. Factors that might cause or contribute to such differences include, but are not limited to, those discussed under Part II, Item 1A “Risk Factors” as well as elsewhere in this Quarterly Report on Form 10-Q, in our Annual Report on Form 10-K for the year ended March 31, 2025, and in our other filings with the U.S. Securities and Exchange Commission, or “SEC.” You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this Quarterly Report on Form 10-Q. We undertake no obligation to update the forward-looking statements made in this document to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information or the occurrence of unanticipated events, except as required by law.
Current wording
Forward-looking statements also include, among others, those statements including the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “project,” “predict,” “should,” “will,” and similar language. These statements reflect our views and assumptions as of the date of this Quarterly Report on Form 10-Q. All forward-looking statements involve risks and uncertainties that could cause our actual performance to differ materially from those anticipated in the forward-looking statements depending on a variety of factors. Important information as to these factors can be found in this Quarterly Report on Form 10-Q under the headings of “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” “Company Overview,” “Critical Accounting Estimates,” and “Liquidity and Capital Resources,” among others. Factors that might cause or contribute to such differences include, but are not limited to, those discussed under Part II, Item 1A “Risk Factors” as well as elsewhere in this Quarterly Report on Form 10-Q, in our Annual Report on Form 10-K for the year ended March 31, 2026, and in our other filings with the U.S. Securities and Exchange Commission, or “SEC.” You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this Quarterly Report on Form 10-Q. We undertake no obligation to publicly release any revisions to the forward-looking statements or reflect events or circumstances after the date of this document.
Previous 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.
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 the Logitech and Logitech G brand names.
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. 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.
Current wording
As we conduct operations globally, our business has continued to be impacted by ongoing macroeconomic and geopolitical conditions. These conditions include changes in inflation, interest rate and foreign currency fluctuations, uncertainty in consumer and enterprise demand, tariff and trade policies, component availability, volatile energy prices and geopolitical tensions, including the armed conflicts in the Middle East.
Previous 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.
Current wording
The global and regional macroeconomic, political and other conditions 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
•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.
Current wording
•Flexible work: As flexible work models continue to evolve, with employees working from offices, homes and various remote locations, Logitech is well-positioned to meet the demand for versatile and adaptive workplace technology. These working arrangements provide opportunities for Logitech to equip multiple workspaces with products across our portfolio including Pointing Devices, Keyboards & Combos, Tablet Accessories, Headsets and Webcams. Additionally, the rise in distributed teams and remote collaboration is driving increased adoption of video conferencing solutions among businesses and consumers. Our portfolio of video collaboration products are compatible with a variety of video conference platforms, including Zoom, Microsoft Teams and Google Meet.
Previous 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.
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. Gaming is enjoyed by men and women of all ages; competitively as a sport or for fun; for active participation and passive consumption; for personal development or social interaction. As a mainstream activity, 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) 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.
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 electronic components including semiconductor chips, (iii) the macroeconomic environment, including inflation, interest rate and foreign currency fluctuations, volatile energy prices, and geopolitical tensions, and (iv) the uncertainty of overall consumer and enterprise demand.
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) 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.
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) increasing pricing for certain products, (iii) maintaining discipline in our operating expenses, (iv) managing inventory levels to align with demand and component availability, and (v) continued release of new products to increase the value proposition of our portfolio.
Previous wording
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 wording
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 businesses in the months nearing the calendar year-end. Cash flow is usually 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.
Previous 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.
Current wording
Sales for the three months ended June 30, 2026 increased 12% and 8% in the Americas and Asia Pacific regions, respectively, and decreased 1% in the EMEA region, compared to the three months ended June 30, 2025.
Previous 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.
Current wording
We had an income tax provision of$39.9 million and$28.5 million for thethree months ended June 30, 2026 and June 30, 2025, respectively.
Previous 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.
Current wording
Net income for the three months ended June 30, 2026 was $235.7 million, compared to$146.0 millionfor the three months ended June 30, 2025.
Previous 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.
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 estimates.
Previous 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.
Current wording
There have been no material changes in our critical accounting estimates during the three months ended June 30, 2026 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, 2026.
Previous 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.
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 adopted and to be adopted.
Previous 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.
Current wording
Our sales for the three months ended June 30, 2026 increased 7%, compared to the three months ended June 30, 2025, primarily due to an increase in sales for Gaming, Pointing Devices, and Video Collaboration as well as favorable changes in foreign currency exchange rates. If currency exchange rates had been constant in the three months ended June 30, 2026 and 2025, 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, 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.
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, 2026, approximately 52% 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, 2025, compared with the three and nine months ended December 31, 2024:
Current wording
The following table presents the change in sales by region for the three months ended June 30, 2026, compared with the three months ended June 30, 2025:
Previous 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.
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 Gaming, Keyboards & Combos, and Pointing Devices.
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 Pointing Devices, partially offset by a decrease in sales for Tablet Accessories.
Previous wording
Sales by product category for the three and nine months ended December 31, 2025 and 2024 were as follows (Dollars in thousands):
Current wording
Sales by product category for the three months ended June 30, 2026 and 2025 were as follows (Dollars in thousands):
Previous wording
Our Gaming category includes gaming mice, steering wheels, headsets, keyboards, console gaming headsets, microphones and Streamlabs services.
Current wording
Our Gaming category includes PC gaming (mice, headsets, keyboards), steering wheels, console gaming headsets, microphones and Streamlabs services.
Previous 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.
Current wording
Sales of Video Collaboration increased 11% for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to an increase in sales of conference room cameras.
Previous wording
Our Webcams category includes PC-based webcams including streaming cameras and VC webcams that turn any desktop into an instant collaboration space.
Current wording
Our Webcams category includes webcams and streaming cameras. Our webcams turn any desktop into an instant collaboration space.
Previous wording
Our Headsets category includes PC and VC headsets, in-ear headphones, and premium wireless earbuds.
Current wording
Our Headsets category includes headsets, in-ear headphones, and premium wireless earbuds.
Previous 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.
Current wording
Sales in Other category decreased 12% for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily driven by a decrease in sales of mobile speakers.
Previous wording
Gross profit for the three and nine months ended December 31, 2025 and 2024 was as follows (Dollars in thousands):
Current wording
Gross profit for the three months ended June 30, 2026 and 2025 was as follows (Dollars in thousands):
Previous 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.
Current wording
Operating expenses for the three months ended June 30, 2026 and 2025 were as follows (Dollars in thousands):
Previous wording
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 wording
The increasein total operating expenses during thethree months ended June 30, 2026, compared to thethree months ended June 30, 2025, was primarily driven by increases in marketing and selling expenses and research and development expenses.
Previous wording
Marketing and selling expenses consist of personnel and related overhead costs, corporate and product marketing, promotions, advertising, trade shows, technical support for customer experiences and facilities costs.
Current wording
Marketing and selling expenses consist of personnel and related overhead costs, corporate and product marketing, advertising, trade shows, technical support for customer experiences and facilities costs.
Previous 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.
Current wording
During thethree months ended June 30, 2026, general and administrative expenses remained relatively flat, compared to thethree months ended June 30, 2025.
Previous 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.
Current wording
During thethree months ended June 30, 2026, amortization of intangible assets and acquisition-related costs decreased $1.7 million, compared to the three months ended June 30, 2025, driven by full amortization of certain intangible assets.
Previous 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.
Current wording
The restructuring charges, net, for the three months ended June 30, 2026 and June 30, 2025 were related to costs incurred as a result of our restructuring plan initiated during the fourth quarter of fiscal year 2025, which was substantially completed in fiscal 2026.
Previous wording
Interest income for the three and nine months ended December 31, 2025 and 2024 was as follows (in thousands):
Current wording
Interest income for the three months ended June 30, 2026 and 2025 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 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.
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 months ended June 30, 2026, interest income increased $2.9 million, compared to the three months ended June 30, 2025, primarily driven by interest income associated with IEEPA tariff refunds.
Previous wording
Other income (expense), net, for the three and nine months ended December 31, 2025 and 2024 was as follows (in thousands):
Current wording
Other income (expense), net, for the three months ended June 30, 2026 and 2025 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 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.
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 months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily relates to the change in market performance of the underlying securities.
Previous 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.
Current wording
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 months ended June 30, 2026 was primarily due to fluctuations in currency exchange rates of the Chinese Renminbi and Swiss Franc against the U.S. Dollar. The loss for the three months ended June 30, 2025 was primarily due to fluctuations in the currency exchange rates of the Swiss Franc and New Taiwan dollar against the U.S. Dollar.
Showing the first 40 of 59 pairs. Open the source sections for the rest.
Rearranged current paragraphs (2)
Current report — wording carried from elsewhere
In March 2026, our Board of Directors approved a new, three-year share repurchase program to repurchase shares up to an aggregate amount of $1.4 billion, or a maximum of 16,078,446 shares. The 2026 share repurchase program enables us to repurchase shares for cancellation, as well as to support equity incentive plans or potential acquisitions. The program became effective on May 8, 2026, following approval from the Swiss Takeover Board. During the three months ended June 30, 2026, we repurchased 0.9 million shares for an aggregate cost of
Current report — wording carried from elsewhere
$100.8 million for cancellation under the 2026 share repurchase program, of which $28.0 million of the aggregate cost was not paid yet as of June 30, 2026. As of June 30, 2026, $1.3 billion was available for repurchase under the 2026 share repurchase program.