Logitech Files Q2 FY25 10-Q with Financial Updates

TL;DR

Logitech's Q2 FY25 10-Q is in. Check financials.

AI Summary

Logitech International S.A. filed its 10-Q for the period ending September 30, 2024. The filing covers financial performance and operational details for the second quarter and first half of fiscal year 2025. Specific financial figures and segment performance are detailed within the report.

Why It Matters

This filing provides investors with the latest financial performance data for Logitech, crucial for understanding the company's current health and future prospects in the computer peripherals market.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• 20240930 — End of Reporting Period (Indicates the date up to which financial information is reported.)
• 20241024 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• LOGITECH INTERNATIONAL S.A. (company) — Filer of the 10-Q
• 20240930 (date) — End of reporting period
• 20241024 (date) — Filing date
• 0001032975 (company) — Central Index Key for Logitech

FAQ

Filing Documents

• logi-20240930.htm (10-Q) — 1265KB
• exhibit311q2fy25.htm (EX-31.1) — 14KB
• exhibit312q2fy25.htm (EX-31.2) — 13KB
• exhibit321q2fy25.htm (EX-32.1) — 8KB
• 0001032975-24-000075.txt ( ) — 6259KB
• logi-20240930.xsd (EX-101.SCH) — 37KB
• logi-20240930_cal.xml (EX-101.CAL) — 72KB
• logi-20240930_def.xml (EX-101.DEF) — 148KB
• logi-20240930_lab.xml (EX-101.LAB) — 551KB
• logi-20240930_pre.xml (EX-101.PRE) — 361KB
• logi-20240930_htm.xml (XML) — 885KB

FINANCIAL INFORMATION

Part I FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Statements of Operations for the Three and Six Months Ended September 30, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Six Months Ended September 30, 2024 and 2023 4 Condensed Consolidated Balance Sheets as of September 30, 2024 and March 31, 2024 5 Condensed Consolidated Statements of Cash Flows for the Six Months Ended September 30, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Shareholders' Equity for the Three and Six Months Ended September 30, 2024 and 2023 7 Notes to the Condensed Consolidated Financial Statements 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 35 Part II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 36 Item 1A.

Risk Factors

Risk Factors 36 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 38 Item 6. Exhibit Index 39

Signatures

Signatures In this document, unless otherwise indicated, references to the "Company," "Logitech," "we," "our," and "us" are to Logitech International S.A. and its consolidated subsidiaries. Unless otherwise specified, all references to U.S. Dollar, Dollar or $ are to the United States Dollar, the legal currency of the United States of America. All references to CHF are to the Swiss Franc, the legal currency of Switzerland. Logitech, the Logitech logo, and the Logitech products referred to herein are either the trademarks or the registered trademarks of Logitech. All other trademarks are the property of their respective owners. Our fiscal year ends on March 31. Interim quarters are generally thirteen-week periods, each ending on a Friday of each quarter. The second quarter of fiscal year 2025 ended on September 27, 2024. The same quarter in the prior fiscal year ended on September 29, 2023. For purposes of presentation, we have indicated our quarterly periods end on the last day of the calendar quarter. The term "sales" means net sales, except as otherwise specified. We make available, free of charge on our website, access to our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as soon as reasonably practicable after we file or furnish them electronically with the Securities and Exchange Commission ("SEC"). 1 Table of Contents Recordings of our earnings videoconferences and certain events we participate in or host, with members of the investment community are posted on our investor relations website at https://ir.logitech.com. Additionally, we provide notifications of news or announcements regarding our operations and financial performance, including SEC filings, investor events, and press and earnings releases as part of our investor relations websit

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

FINANCIAL STATEMENTS (UNAUDITED)

ITEM 1. FINANCIAL STATEMENTS (UNAUDITED) LOGITECH INTERNATIONAL S.A. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In thousands, except per share amounts) (unaudited) Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Net sales $ 1,116,034 $ 1,057,008 $ 2,204,251 $ 2,031,507 Cost of goods sold 627,491 615,403 1,247,008 1,211,115 Amortization of intangible assets 2,452 2,983 4,894 6,128 Gross profit 486,091 438,622 952,349 814,264 Operating expenses: Marketing and selling 201,863 176,356 398,768 355,541 Research and development 76,205 68,559 151,512 139,118 General and administrative 44,173 35,538 81,631 76,835 Amortization of intangible assets and acquisition-related costs 2,725 3,318 5,428 6,003 Restructuring charges (credits), net 229 ( 1,788 ) 615 1,723 Total operating expenses 325,195 281,983 637,954 579,220 Operating income 160,896 156,639 314,395 235,044 Interest income 14,637 11,856 30,427 21,682 Other income (expense), net 533 ( 1,044 ) ( 1,365 ) ( 14,016 ) Income before income taxes 176,066 167,451 343,457 242,710 Provision for income taxes 30,583 30,334 56,141 42,866 Net income $ 145,483 $ 137,117 $ 287,316 $ 199,844 Net income per share: Basic $ 0.95 $ 0.87 $ 1.88 $ 1.26 Diluted $ 0.95 $ 0.86 $ 1.86 $ 1.25 Weighted average shares used to compute net income per share: Basic 152,460 157,911 152,875 158,385 Diluted 153,672 158,934 154,320 159,545 The accompanying notes are an integral part of these condensed consolidated financial statements. 3 Table of Contents LOGITECH INTERNATIONAL S.A. CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In thousands) (unaudited) Three months ended September 30, Six months ended September 30, 2024 2023 2024 2023 Net income $ 145,483 $ 137,117 $ 287,316 $ 199,844 Other comprehensive income (loss): Currency translation gain (loss): Currency translation gain (loss), net of taxes 20,789 ( 10,622 ) 15,570 ( 12,151 ) Defined benef

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