Logitech Files Q3 2024 10-Q

TL;DR

Logitech's Q3 2024 10-Q is in, check the numbers.

AI Summary

Logitech International S.A. filed its 10-Q for the period ending December 31, 2024. The filing covers the third quarter of their fiscal year. Key financial data and operational details for this period are presented, reflecting the company's performance in computer peripheral equipment.

Why It Matters

This filing provides investors with an update on Logitech's financial health and operational performance for the third quarter of fiscal year 2024, impacting investment decisions.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags.

Key Numbers

• 20241231 — Period End Date (Indicates the end of the reporting period for this 10-Q filing.)
• 20250129 — Filing Date (The date on which the 10-Q report was officially submitted to the SEC.)

Key Players & Entities

• LOGITECH INTERNATIONAL S.A. (company) — Filer
• 20241231 (date) — Period of Report
• 20250129 (date) — Filed as of Date
• 3577 (other) — Standard Industrial Classification
• SAN JOSE (location) — Business Address City

FAQ

Filing Documents

• logi-20241231.htm (10-Q) — 1282KB
• exhibit311q3fy25.htm (EX-31.1) — 14KB
• exhibit312q3fy25.htm (EX-31.2) — 13KB
• exhibit321q3fy25.htm (EX-32.1) — 8KB
• 0001032975-25-000008.txt ( ) — 6470KB
• logi-20241231.xsd (EX-101.SCH) — 39KB
• logi-20241231_cal.xml (EX-101.CAL) — 72KB
• logi-20241231_def.xml (EX-101.DEF) — 173KB
• logi-20241231_lab.xml (EX-101.LAB) — 577KB
• logi-20241231_pre.xml (EX-101.PRE) — 382KB
• logi-20241231_htm.xml (XML) — 902KB

FINANCIAL INFORMATION

Part I FINANCIAL INFORMATION Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Statements of Operations for the Three and Nine Months Ended December 31, 2024 and 2023 3 Condensed Consolidated Statements of Comprehensive Income for the Three and Nine Months Ended December 31, 2024 and 2023 4 Condensed Consolidated Balance Sheets as of December 31, 2024 and March 31, 2024 5 Condensed Consolidated Statements of Cash Flows for the Nine Months Ended December 31, 2024 and 2023 6 Condensed Consolidated Statements of Changes in Shareholders' Equity for the Three and Nine Months Ended December 31, 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 23 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 37 Item 4.

Controls and Procedures

Controls and Procedures 38 Part II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 39 Item 1A.

Risk Factors

Risk Factors 39 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 41 Item 3. Defaults Upon Senior Securities 41 Item 4. Mine Safety Disclosures 41 Item 5. Other Information 41 Item 6. Exhibit Index 43

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 third quarter of fiscal year 2025 ended on December 27, 2024. The same quarter in the prior fiscal year ended on December 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 website.

— 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 December 31, Nine months ended December 31, 2024 2023 2024 2023 Net sales $ 1,340,294 $ 1,255,473 $ 3,544,545 $ 3,286,980 Cost of goods sold 763,403 726,252 2,010,411 1,937,367 Amortization of intangible assets 2,450 2,441 7,344 8,569 Gross profit 574,441 526,780 1,526,790 1,341,044 Operating expenses: Marketing and selling 217,048 189,175 615,816 544,716 Research and development 77,973 72,704 229,485 211,822 General and administrative 42,117 39,711 123,748 116,546 Amortization of intangible assets and acquisition-related costs 2,637 2,276 8,065 8,279 Restructuring charges, net 110 839 725 2,562 Total operating expenses 339,885 304,705 977,839 883,925 Operating income 234,556 222,075 548,951 457,119 Interest income 12,176 12,826 42,603 34,508 Other income (expense), net ( 1,524 ) 189 ( 2,889 ) ( 13,827 ) Income before income taxes 245,208 235,090 588,665 477,800 Provision for (benefit from) income taxes 45,061 ( 9,594 ) 101,202 33,272 Net income $ 200,147 $ 244,684 $ 487,463 $ 444,528 Net income per share: Basic $ 1.33 $ 1.57 $ 3.20 $ 2.82 Diluted $ 1.32 $ 1.55 $ 3.18 $ 2.80 Weighted average shares used to compute net income per share: Basic 150,647 155,933 152,127 157,568 Diluted 151,895 157,440 153,506 158,843 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 December 31, Nine months ended December 31, 2024 2023 2024 2023 Net income $ 200,147 $ 244,684 $ 487,463 $ 444,528 Other comprehensive income (loss): Currency translation gain (loss): Currency translation gain (loss), net of taxes ( 39,568 ) 25,319 ( 23,998 ) 13,168 Defined

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View this 10-Q filing on SEC EDGAR