Logitech reports $1.22B revenue for fiscal Q2 2027

Cover page 2 changes

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For the quarterly period ended June September 30, 2026

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As of July 15, October 14, 2026, there were 143,188,332 141,818,544 shares of the Registrant s share capital outstanding.

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Exhibits 1 change

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Our fiscal year ends on March 31. Interim quarters are generally thirteen-week periods, each ending on a Friday of each quarter. The first second quarter of fiscal year 2027 ended on June 26, September 25, 2026. The same quarter in the prior fiscal year ended on June 27, September 26, 2025. For purposes of presentation, we have indicated our quarterly periods end on the last day of the calendar quarter.

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Financial statements (unaudited) 170 changes

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Net sales $ 1,227,234 $ 1,147,703

Cost of goods sold 618,599 666,592

Amortization of intangible assets 695 2,149

Gross profit 607,940 478,962

Marketing and selling 219,745 195,796

Research and development 84,623 74,587

General and administrative 43,525 41,797

Restructuring charges, net 570 2,042

Total operating expenses 349,389 316,868

Operating income 258,551 162,094

Interest income 14,099 11,229

Other income (expense), net 2,930 1,162

Income before income taxes 275,580 174,485

Provision for income taxes 39,883 28,470

Net income $ 235,697 $ 146,015

September 30, Six Months Ended

Net sales $ 1,218,838 $ 1,186,056 $ 2,446,072 $ 2,333,759

Cost of goods sold 671,248 669,418 1,289,847 1,336,010

Amortization of intangible assets 557 2,182 1,252 4,331

Gross profit 547,033 514,456 1,154,973 993,418

Marketing and selling 219,533 198,993 439,278 394,789

Research and development 82,725 76,110 167,348 150,697

General and administrative 42,983 41,802 86,508 83,599

Amortization of intangible assets and acquisition-related costs 926 2,646 927 1,818 1,853 4,464

Restructuring charges, net 309 4,442 879 6,484

Total operating expenses 346,477 323,165 695,866 640,033

Operating income 200,556 191,291 459,107 353,385

Interest income 12,441 11,828 26,540 23,057

Other income (expense), net 5,499 ( 64 ) 8,429 1,098

Income before income taxes 218,496 203,055 494,076 377,540

Provision for income taxes 38,461 32,385 78,344 60,855

Net income $ 180,035 $ 170,670 $ 415,732 $ 316,685

1 unchanged paragraph

Diluted $ 1.63 $ 0.98

Basic $ 1.26 $ 1.16 $ 2.90 $ 2.15

Diluted $ 1.25 $ 1.15 $ 2.88 $ 2.13

1 unchanged paragraph

Basic 143,495 147,864

Diluted 145,038 149,053

Basic 142,946 147,123 143,214 147,487

Diluted 143,770 148,422 144,398 148,731

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Net income $ 235,697 $ 146,015

September 30, Six Months Ended

Net income $ 180,035 $ 170,670 $ 415,732 $ 316,685

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Currency translation gain (loss) ( 1,739 ) 27,293

Currency translation gain (loss) ( 3,003 ) ( 2,688 ) ( 4,742 ) 24,605

1 unchanged paragraph

Reclassification of amortization included in other income (expense), net ( 163 58 ) ( 157 193 ) ( 221 ) ( 350 )

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Deferred hedging gain (loss) 2,129 ( 12,349 )

Total comprehensive income $ 237,272 $ 162,804

Deferred hedging gain (loss) ( 116 ) 589 2,013 ( 11,760 )

Reclassification of hedging loss (gain) included in cost of goods sold 1,348 2,002 ( 331 ) 5,961 1,017 7,963

Total other comprehensive income (loss), net of taxes 1,575 16,789 ( 3,508 ) 3,669 ( 1,933 ) 20,458

Total comprehensive income $ 176,527 $ 174,339 $ 413,799 $ 337,143

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Inventories 491,743 489,948

Total assets $ 4,034,065 $ 3,848,588

June September 30, 2026 March 31, 2026

Cash and cash equivalents $ 1,749,679 1,507,647 $ 1,741,546

Accounts receivable, net 668,497 750,692 505,867

Inventories 556,790 489,948

Other current assets 211,324 170,826 177,895

Total current assets 3,121,243 2,985,955 2,915,256

Property, plant and equipment, net 113,021 112,403 116,454

Goodwill 464,959 464,441 465,417

Other intangible assets, net 10,752 9,272 12,386

Total assets $ 3,919,881 $ 3,848,588

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Accounts payable $ 585,798 $ 530,983

Accounts payable $ 639,980 $ 530,983

Accrued and other current liabilities 764,666 763,140 781,990

Total current liabilities 1,350,464 1,403,120 1,312,973

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Income taxes payable 92,547 97,390 86,322

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Total liabilities 1,682,320 1,756,632 1,637,194

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Issued shares: 160,784 at June September 30, 2026 and March 31, 2026

Additional paid-in capital 66,528 86,555 123,386

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Treasury shares: 17,218 18,584 and 17,282 at June September 30, 2026 and March 31, 2026, respectively ( 1,226,865 1,372,358 ) ( 1,207,454 )

Retained earnings 3,596,323 3,536,801 3,381,278

Accumulated other comprehensive loss ( 112,242 115,750 ) ( 113,817 )

Total shareholders equity 2,351,745 2,163,249 2,211,394

Total liabilities and shareholders equity $ 4,034,065 3,919,881 $ 3,848,588

4 unchanged paragraphs

Net income $ 235,697 $ 146,015

Net income $ 415,732 $ 316,685

1 unchanged paragraph

Depreciation 17,360 15,064

Amortization of intangible assets 1,621 4,795

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and 90 more changes in the filing

Note 1: The Company and Summary of Significant Accounting Policies and Estimates 8 changes

Logitech International S.A., together with its consolidated subsidiaries ("Logitech" or the "Company"), designs creates design-led, software-enabled hardware solutions that help businesses thrive and bring people together when working, creating, and gaming in the age of AI. As the point of connection between people and the digital world, the Company's mission is to extend human potential in work and play, in a way that is good for people and the planet.

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Logitech was founded in Switzerland in 1981 and Logitech International S.A. has been the parent holding company of Logitech since 1988. Logitech International S.A. is a Swiss holding company with its registered office in Hautemorges, Ecublens, Switzerland, and headquarters in Lausanne, Switzerland, which conducts its business through subsidiaries in the Americas; Europe, the Middle East and Africa ("EMEA"); and Asia Pacific. Shares of Logitech International S.A. are listed on both the SIX Swiss Exchange under the trading symbol LOGN and the Nasdaq Global Select Market under the trading symbol LOGI.

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In the opinion of management, these condensed consolidated financial statements include all adjustments, consisting of only normal and recurring adjustments, necessary and in all material aspects, for a fair statement of the results of operations, comprehensive income, financial position, cash flows and changes in shareholders' equity for the periods presented. Operating results for the three and six months ended June September 30, 2026 are not necessarily indicative of the results that may be expected for the fiscal year ending March 31, 2027, or any future periods.

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There have bee n no material changes in the Company s significant accounting policies during the three and six months ended June September 30, 2026 compared with the significant accounting policies described in its Annual Report on Form 10-K for the fiscal year ended March 31, 2026.

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As the Company conducts operations globally, its 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, changes in fiscal and monetary policies, and geopolitical tensions, including the armed conflicts in the Middle East and Ukraine.

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. On In February 20, 2026, the U.S. Supreme Court invalidated issued a decision invalidating certain import tariffs enacted in 2025 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. fiscal year 2027, the Company received a full refund of $ 61 million for these tariffs, invalidated by the Supreme Court, including $ 15 million during in the first quarter of fiscal year 2027 and $ 46 million subsequent to in the second quarter, end. which represent substantially all of the refunds the Company has requested for the IEEPA tariffs invalidated by the Supreme Court. The $ 61 million refund was recorded as a reduction of costs cost of goods sold in the Company's condensed consolidated statements of operations in the first quarter of fiscal year 2027. As of the end of for the first quarter of fiscal year 2027. the $ 46 million refund approved by CBP, but not yet received, was recorded as other current assets in the Company s condensed consolidated balance sheet. The Company recognizes tariff refunds when the gain is realized or realizable.

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 subject to appeal. In July 2026, The U.S. government then 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 the Company's results of operations.

The Company has 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 the Company's products. In addition, in late June 2026, one of the Company's semiconductor component suppliers experienced had a serious incident at its manufacturing facilities, facility, resulting in its temporary closure in late June 2026. The Company currently expects this facility closure will impact its opened in September 2026 and began ramping up production; however, the facility s current capacity is still below the Company's required level. This supplier incident has impacted the Company's ability to effectively meet demand for certain products and will continue to impact product availability in the second and third quarters quarter of fiscal year 2027.

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Note 2: Net Income Per Share 13 changes

Net income $ 235,697 $ 146,015

The following table summarizes the computations of basic and diluted net income per share for the three and six months ended June September 30, 2026 and 2025 (in thousands, except per share amounts):

September 30, Six Months Ended

Net income $ 180,035 $ 170,670 $ 415,732 $ 316,685

1 unchanged paragraph

Weighted average shares outstanding - basic 143,495 147,864

Weighted average shares outstanding - diluted 145,038 149,053

Weighted average shares outstanding - basic 142,946 147,123 143,214 147,487

Effect of potentially dilutive equivalent shares 1,543 1,189 824 1,299 1,184 1,244

Weighted average shares outstanding - diluted 143,770 148,422 144,398 148,731

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Diluted $ 1.63 $ 0.98

Basic $ 1.26 $ 1.16 $ 2.90 $ 2.15

Diluted $ 1.25 $ 1.15 $ 2.88 $ 2.13

Share equivalents attributable to outstanding stock options, restricted stock units and employee share purchase plans totaling 0.8 million and 1.6 0.2 million for the three months ended June September 30, 2026 and 2025, respectively, and 0.8 million and 0.9 million for the six months ended September 30, 2026 and 2025, respectively, were excluded from the calculation of diluted net income per share because their effect would have been antidilutive. A small number of performance-based restricted stock units were not included in the diluted net income per share calculation because all necessary conditions had not been satisfied by the end of the respective period, and those shares were not issuable if the end of the reporting period were the end of the performance contingency period.

Note 3: Employee Benefit Plans 18 changes

1 unchanged paragraph

Cost of goods sold $ 2,182 $ 2,380

Marketing and selling 11,821 13,930

Research and development 6,597 6,351

General and administrative 9,032 10,167

Total share-based compensation expense 29,632 32,828

Income tax benefit ( 8,843 ) ( 4,906 )

As of June September 30, 2026, the Company offers the 2006 Employee Share Purchase Plan (Non-U.S.), as amended and restated, the 1996 Employee Share Purchase Plan (U.S.), as amended and restated, and the 2006 Stock Incentive Plan, as amended and restated. Shares issued to employees as a result of purchases or exercises under these plans are generally issued from shares held in treasury stock.

The following table summarizes share-based compensation expense and total income tax benefit recognized for the three and six months ended June September 30, 2026 and 2025 (in thousands):

September 30, Six Months Ended

Cost of goods sold $ 3,455 $ 3,359 $ 5,637 $ 5,739

Marketing and selling 10,312 12,141 22,133 26,071

Research and development 5,643 5,666 12,240 12,017

General and administrative 9,139 9,146 18,171 19,313

Total share-based compensation expense 28,549 30,312 58,181 63,140

Income tax benefit ( 4,363 ) ( 6,015 ) ( 13,206 ) ( 10,921 )

Total share-based compensation expense, net of income tax benefit $ 20,789 24,186 $ 27,922 24,297 $ 44,975 $ 52,219

1 unchanged paragraph

Share-based compensation costs capitalized as part of inventory were $ 3.1 2.3 million and $ 2.8 2.0 million for the three months ended June September 30, 2026 and 2025, respectively, and $ 5.4 million and $ 4.8 million for the six months ended September 30, 2026 and 2025, respectively.

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Certain subsidiaries of the Company sponsor defined benefit pension plans or non-retirement post-employment benefits covering substantially all of their employees. Benefits are provided based on employees years of service and earnings, or in accordance with applicable employee benefit regulations. The Company s practice is to fund amounts sufficient to meet the requirements set forth in the applicable employee benefit and tax regulations. The costs of $ 1.5 million and $ 1.7 1.8 million recorded for the three months ended June September 30, 2026 and 2025, respectively, and $ 3.0 million and $ 3.5 million recorded for the six months ended September 30, 2026 and 2025, respectively, were primarily related to service costs.

Note 4: Income Taxes 3 changes

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The income tax provision for the three and six months ended June September 30, 2026 was $ 39.9 38.5 million and $ 78.3 million, based on an effective income tax rate of 14.5 17.6 % and 15.9 % of pre-tax income, respectively. The income tax provision for the same period periods ended June September 30, 2025 was $ 28.5 32.4 million and $ 60.9 million, based on an effective income tax rate of 16.3 15.9 % and 16.1 % of pre-tax income, respectively.

The change in the effective income tax rate for the three and six months ended June September 30, 2026, compared with the same period periods ended June September 30, 2025, was primarily due to the change in the mix of income and losses in the various tax jurisdictions in which the Company operates and return to provision adjustments, offset by higher tax benefits from share-based compensation.

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For the three and six months ended June September 30, 2026, the Company assessed its exposure to the OECD Pillar Two global minimum tax rules and the newly released OECD Administrative Guidance package. While the package's "Side-by-Side" System designed to align the U.S. tax framework with Pillar Two does not apply directly to the Company as a non-U.S. headquartered multinational, the broader guidance introduces a new permanent safe harbor and a one-year extension of the transitional Country-by-Country Reporting ("CbCR") safe harbor. Based on Qualified CbCR data, the Company expects that most jurisdictions in which it operates to continue qualifying for the transitional safe harbor. For the limited jurisdictions that do not qualify, the estimated top-up tax for fiscal year 2027 is expected to be de minimis and will not materially impact the consolidated financial statements or the effective tax rate. The Company continues to monitor ongoing legislative developments but does not anticipate a material change to its Pillar Two liability.

Note 5: Balance Sheet Components 34 changes

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June September 30, 2026 March 31, 2026

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Accounts receivable $ 1,008,529 1,065,203 $ 792,466

3 unchanged paragraphs

Raw materials $ 59,294 $ 62,484

Finished goods 432,449 427,464

Raw materials $ 77,095 $ 62,484

Finished goods 479,695 427,464

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Value-added tax ("VAT") receivables $ 39,332 38,321 $ 58,600

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Other assets 15,482 16,095

Property, plant and equipment $ 588,900 602,382 $ 587,418

Less: accumulated depreciation and amortization ( 475,879 489,979 ) ( 470,964 )

Deferred tax assets $ 176,159 173,059 $ 192,083

Right-of-use assets 68,798 87,046 71,531

Investments in privately held companies 29,642 36,317 28,871

Investments for deferred compensation plan 34,009 33,187 30,495

Other assets 18,201 16,095

1 unchanged paragraph

June September 30, 2026 March 31, 2026

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Income taxes payable 45,991 37,843

Accrued customer marketing, pricing and incentive programs $ 236,476 253,998 $ 211,915

Accrued personnel expenses 144,477 121,845 165,404

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VAT payable 27,700 36,292

Accrued sales return liability 27,390 36,520 27,635

Warranty liabilities 34,958 34,523 35,488

Income taxes payable 32,620 37,843

VAT payable 29,261 36,292

Operating lease liabilities 16,007 17,464 17,044

Accrued loss for inventory purchase commitments 15,667 16,035 18,167

Other current liabilities 174,694 178,753 193,550

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Employee benefit plan obligations 59,862 61,066

Operating lease liabilities $ 68,381 84,990 $ 71,111

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Employee benefit plan obligations 58,151 61,066

Obligation for deferred compensation plan 34,009 33,187 30,495

Warranty liabilities 14,321 14,008 14,754

Other non-current liabilities 7,011 7,410 6,849

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Subsequent to September 30, 2026, the Company executed a ten-year operating lease for an office space in the Asia Pacific region with total undiscounted future lease payment obligations of approximately $ 40 million. The lease is expected to commence in January 2029, upon which a right-of-use asset and lease liability will be recognized on the Company's consolidated balance sheet.

Note 6: Fair Value Measurements 16 changes

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June September 30, 2026 March 31, 2026

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Cash equivalents $ 892,792 $ $ $ 863,120 $ $

Cash equivalents $ 656,191 $ $ $ 863,120 $ $

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Cash $ 332 $ $ $ 60 $ $

Mutual funds 24,517 24,980

Cash $ 63 $ $ $ 60 $ $

Common stock 1,071 1,205 902

Money market funds 8,089 8,009 4,553

Mutual funds 23,910 24,980

Total investments for deferred compensation plan $ 34,009 33,187 $ $ $ 30,495 $ $

Currency derivative assets $ $ 7,487 5,450 $ $ $ 5,486 $

Currency derivative liabilities $ $ 31 212 $ $ $ 94 $

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The marketable securities for the Company's deferred compensation plan were recorded at a fair value of $ 34.0 33.2 million and $ 30.5 million, as of June September 30, 2026 and March 31, 2026, respectively, based on quoted market prices. Quoted market prices are observable inputs that are classified as Level 1 within the fair value hierarchy. Unrealized gains (losses) related to marketable securities for the three and six months ended June September 30, 2026 and 2025 were not material and are included in other income (expense), net and corresponding changes in the deferred compensation liability were included in operating expenses and cost of goods sold, in the Company's condensed consolidated statements of operations.

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The Company has certain non-marketable investments included in other assets that are accounted for as equity method investments, with a carrying value of $ 19.8 21.5 million and $ 19.1 million as of June September 30, 2026 and March 31, 2026, respectively. Income (loss) related to equity method investments for the three and six months ended June September 30, 2026 and 2025 were not material and are included in other income (expense), net in the Company's condensed consolidated statements of operations. There was no impairment of equity method investments during the three and six months ended June September 30, 2026 and 2025.

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The Company has certain equity investments without readily determinable fair values due to the absence of quoted market prices, the inherent lack of liquidity, and the fact that inputs used to measure fair value are unobservable and require management's judgment. When certain events or circumstances indicate that impairment may exist, the Company revalues the investments using various assumptions, including the financial metrics and ratios of comparable public companies. The carrying value is also adjusted for observable price changes with the same or similar security from the same issuer. The amount of these equity investments without readily determinable fair value included in other assets was $ 13.8 million and $ 8.8 million as of June September 30, 2026 and March 31, 2026, respectively. There was no impairment of these equity investments during the three and six months ended June September 30, 2026 and 2025.

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Goodwill, intangible assets, and property, plant and equipment, are not required to be measured at fair value on a recurring basis. However, if the Company is required to evaluate these non-financial assets for impairment, whether due to certain triggering events or because of the required annual impairment test, and a resulting impairment is recorded to reduce the carrying value to the fair value, the non-financial assets are measured at fair value during such period. There was no impairment of non-financial assets during the three and six months ended June September 30, 2026 and 2025.

Note 7: Derivative Financial Instruments 11 changes

Under certain agreements with the respective counterparties to the Company s derivative contracts, subject to applicable requirements, the Company is allowed to net settle transactions of the same type with a single net amount payable by one party to the other. However, the Company presents its derivative assets and derivative liabilities on a gross basis. Based on maturity, derivative assets are included in other current assets or other assets and derivative liabilities are included in accrued and other current liabilities or other non-current liabilities on the condensed consolidated balance sheets. See Note 6 for the fair values of the Company s derivative instruments as of June September 30, 2026 and March 31, 2026.

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The notional amounts of foreign currency exchange contracts outstanding related to forecasted inventory purchases were $ 413.9 290.0 million and $ 447.9 million as of June September 30, 2026 and March 31, 2026, respectively. The Company had $ 5.9 5.1 million of net gain related to its cash flow hedges included in accumulated other comprehensive loss as of June September 30, 2026, which will be reclassified into earnings within the next twelve months.

The following table presents the amounts of gain (loss) on the Company s derivative instruments designated as hedging instruments for the three and six months ended June September 30, 2026 and 2025 and their locations on its condensed consolidated statements of operations and condensed consolidated statements of comprehensive income (in thousands):

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Other Comprehensive Loss Amount of Loss (Gain)

Reclassified from Accumulated Other Comprehensive Loss to

Cash flow hedges $ ( 116 ) $ 589 $ ( 331 ) $ 5,961

Amount of Gain (Loss)

Deferred as a Component of Accumulated

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Cash flow hedges $ 2,129 $ ( 12,349 ) $ 1,348 $ 2,002

Cash flow hedges $ 2,013 $ ( 11,760 ) $ 1,017 $ 7,963

The Company also enters into foreign currency exchange forward and swap contracts to reduce the short-term effects of currency exchange rate fluctuations on certain receivables or payables denominated in currencies other than the functional currencies of its subsidiaries. These contracts generally mature within approximately one month . The primary risk managed by using forward and swap contracts is the currency exchange rate risk. The gains or losses on these contracts are not material and are included in other income (expense), net, in the condensed consolidated statements of operations based on the changes in fair value. The notional amounts of these contracts outstanding as of June September 30, 2026 and March 31, 2026 were $ 123.9 152.3 million and $ 113.0 million, respectively.

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Note 8: Goodwill and Other Intangible Assets 9 changes

The Company conducts its impairment analysis of goodwill annually at December 31 or more frequently if changes in facts and circumstances indicate that it is more likely than not that the fair value of the Company s reporting unit may be less than its carrying amount. There have been no triggering events identified affecting the valuation of goodwill and intangible assets during the three and six months ended June September 30, 2026 and 2025.

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Effects of foreign currency translation ( 458 976 )

As of June September 30, 2026 $ 464,959 464,441

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June September 30, 2026 March 31, 2026

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Trademarks and trade names $ 32,390 $ ( 30,857 31,144 ) $ 1,533 1,246 $ 32,390 $ ( 30,569 ) $ 1,821

Developed technology 107,550 ( 103,963 104,506 ) 3,587 3,044 107,550 ( 103,307 ) 4,243

Customer contracts/relationships 69,087 ( 63,648 64,276 ) 5,439 4,811 69,087 ( 63,021 ) 6,066

Effects of foreign currency translation 1,130 1,061 ( 937 890 ) 193 171 1,218 ( 962 ) 256

Total $ 210,157 210,088 $ ( 199,405 200,816 ) $ 10,752 9,272 $ 210,245 $ ( 197,859 ) $ 12,386

Note 9: Financing Arrangements 3 changes

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Company's net leverage ratio or credit rating at the time of the borrowing. Undrawn balances available under the Credit Agreement are subject to commitment fees at the applicable rate determined by reference to the Company's net leverage ratio or credit rating. There has been no borrowing outstanding under the Credit Agreement as of June 30, 2026.

The Credit Agreement contains a maximum net debt to adjusted EBITDA ratio, compliance with which is a condition to the Company's ability to borrow. Borrowings under the Credit Agreement will bear interest at a rate determined by reference to benchmark rates plus an applicable spread (ranging from 0 % to 1.5 %) based on the Company's net leverage ratio or credit rating at the time of the borrowing. Undrawn balances available under the Credit Agreement are subject to commitment fees at the applicable rate determined by reference to the Company's net leverage ratio or credit rating. There has been no borrowing outstanding under the Credit Agreement as of September 30, 2026.

In addition, the Company had several uncommitted, unsecured bank lines of credit and letters of credit aggregating to $ 151.2 137.6 million and $ 149.0 million as of June September 30, 2026 and March 31, 2026, respectively. There are no financial covenants under the lines of credit with which the Company must comply. There was no borrowing outstanding under the lines of credit as of June September 30, 2026 or March 31, 2026. As of June September 30, 2026 and March 31, 2026, the Company had outstanding bank guarantees of $ 2.0 million and $ 2.1 million, respectively.

Note 10: Commitments and Contingencies 11 changes

Provision 8,496 8,622

Settlements ( 9,553 ) ( 8,249 )

End of the period $ 49,279 $ 50,206

Changes in the Company s warranty liabilities for the three and six months ended June September 30, 2026 and 2025 were as follows (in thousands):

September 30, Six Months Ended

Beginning of the period $ 49,279 $ 50,206 $ 50,242 $ 49,184

Provision 9,207 10,372 17,703 18,994

Settlements ( 10,067 ) ( 10,392 ) ( 19,620 ) ( 18,641 )

Effects of foreign currency translation 94 649 112 5 206 654

End of the period $ 48,531 $ 50,191 $ 48,531 $ 50,191

The Company indemnifies certain of its suppliers and customers for losses arising from matters such as intellectual property disputes and product safety defects, subject to certain restrictions. The scope of these indemnities varies, but in some instances includes indemnification for damages and expenses, including reasonable attorneys fees. As of June September 30, 2026, no material amounts have been accrued for these indemnification provisions. The Company does not believe, based on historical experience and information currently available, that it is probable that any material amounts will be required to be paid under its indemnification arrangements.

1 unchanged paragraph

Legal proceedings 55 changes

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As of June September 30, 2026, the Company's nominal share capital is CHF 40.2 million, consisting of 160,784,460 issued shares with a par value of CHF 0.25 each, of which 17,218,209 18,583,859 were held in treasury shares.

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In March 2026, the Company's 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 the Company 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. As of June September 30, 2026 , $ 1.3 1.1 billion was available for repurchase under the 2026 share repurchase program.

The following table summarizes the Company's share repurchase activities for the three six months ended June September 30, 2026 and 2025 were as follows (in thousands):

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(2) Includes an aggregate cost of $ 28.0 32.0 million and $ 21.2 6.3 million, respectively, that was not yet paid as of June September 30, 2026 and 2025.

Swiss law limits a company s ability to hold or repurchase its own shares. The aggregate par value of all shares held in treasury by the Company and its subsidiaries may not exceed 10 % of the share capital of the Company, which for the Company corresponds to approximately 16.1 million registered shares as of June September 30, 2026. This limitation does not apply to shares repurchased for cancellation, due to the Board of Directors authority under the Company s capital band set forth in the Company s Articles of Incorporation. As of June September 30, 2026, the Company had a total of 17.2 18.6 million shares held in treasury stock, which includes 5.6 7.3 million shares that have been repurchased for cancellation and 11.6 11.3 million shares that have been purchased to support equity incentive plans or potential acquisitions.

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In June 2025, the Company's Board of Directors approved the cancellation of 8.2 million treasury shares, which were repurchased under the 2023 share repurchase program in fiscal year 2025 and the first quarter of fiscal year 2026, for an aggregate cost of $ 712.2 million. The cancellation became effective in the second quarter of fiscal year 2026, and as a result, both the number of registered shares issued and the number of treasury shares decreased by 8.2 million shares. Upon cancellation of these shares, the Company deducted the par value from registered shares and reflected the excess of share repurchase cost over par value as a reduction to retained earnings.

In September 2026, the Company's Board of Directors approved the cancellation of 4.6 million treasury shares which were repurchased under the 2023 share repurchase program since the second quarter of fiscal year 2026, for an aggregate cost of $ 432.1 million. This cancellation became effective in the third quarter of fiscal year 2027.

During the three and six months ended September 30, 2026, the Company declared cash dividends of CHF 1.36 (USD equivalent of $ 1.68 based on the exchange rate on the date of declaration) per share and paid a total of $ 235.3 million on the Company's outstanding shares. During the three and six months ended September 30, 2025, the Company declared cash dividends of CHF 1.26 (USD equivalent of $ 1.58 based on the exchange rate on the date of declaration) per share and paid a total of $ 233.1 million on the Company's outstanding shares.

Any future dividends will be subject to approval of the Company's shareholders.

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June 30, 2026 $ ( 95,895 ) $ ( 21,907 ) $ 5,560 $ ( 112,242 )

Other comprehensive income (loss), net of taxes ( 1,739 4,742 ) ( 163 221 ) 3,477 1,575 3,030 ( 1,933 )

September 30, 2026 $ ( 98,898 ) $ ( 21,965 ) $ 5,113 $ ( 115,750 )

3 unchanged paragraphs

September 30, Six Months Ended

6 unchanged paragraphs

Share-based compensation expense 29,632 32,828

Amortization of intangible assets and acquisition-related costs 1,621 4,795 ( 14,099 ) ( 11,229 )

Share-based compensation expense 28,549 30,312 58,181 63,140

Amortization of intangible assets and acquisition-related costs 1,484 4,000 3,105 8,795 ( 12,441 ) ( 11,828 ) ( 26,540 ) ( 23,057 )

3 unchanged paragraphs

Keyboards & Combos 227,798 222,492

Pointing Devices 227,312 195,780

Video Collaboration 185,260 166,716

Webcams 76,581 84,374

Tablet Accessories 89,395 91,227

Headsets 44,133 45,523

Total Sales $ 1,227,234 $ 1,147,703

Sales by product category for the three and six months ended June September 30, 2026 and 2025 were as follows (in thousands):

September 30, Six Months Ended

Keyboards & Combos 246,442 235,870 474,240 458,362

Pointing Devices 230,397 221,094 457,709 416,874

Video Collaboration 188,446 167,677 373,706 334,393

Webcams 75,648 83,301 152,229 167,676

Tablet Accessories 57,959 85,061 147,354 176,288

Headsets 46,052 43,498 90,185 89,020

Total Sales $ 1,218,838 $ 1,186,056 $ 2,446,072 $ 2,333,759

2 unchanged paragraphs

Americas $ 515,916 $ 461,690

EMEA 343,732 346,840

Asia Pacific 367,586 339,173

Total Sales $ 1,227,234 $ 1,147,703

Sales by geographic region (based on the customers locations) for the three and six months ended June September 30, 2026 and 2025 were as follows (in thousands):

September 30, Six Months Ended

Americas $ 524,288 $ 462,736 $ 1,040,204 $ 924,426

EMEA 355,174 382,377 698,906 729,217

Asia Pacific 339,376 340,943 706,962 680,116

Total Sales $ 1,218,838 $ 1,186,056 $ 2,446,072 $ 2,333,759

Revenue from sales to customers in the United States, China and Germany each represented 10% or more of the total consolidated sales for each of the three and six months ended June September 30, 2026 and 2025. No other countries represented 10% or more of the Company s total consolidated sales for the periods presented herein.

Switzerland, the Company s country of domicile, represented 3 % of the Company's total consolidated sales for each of the three and six months ended June September 30, 2026, and 4 % of the Company's total consolidated sales for each of the three and six months ended September 30, 2025.

Three customers of the Company each represented 10% or more of the total consolidated gross sales for each of the three and six months ended June September 30, 2026 and 2025.

1 unchanged paragraph

Americas $ 57,167 $ 59,103

Asia Pacific 62,260 65,089

Total $ 166,192 $ 172,311

June September 30, 2026 March 31, 2026

Americas $ 58,147 $ 59,103

Asia Pacific 78,035 65,089

Total $ 184,555 $ 172,311

Property, plant and equipment, net (excluding software) and right-of-use assets in the United States and China, were $ 55.6 54.6 million and $ 45.4 55.0 million, respectively, as of June September 30, 2026. Property, plant and equipment, net (excluding software) and right-of-use assets in the United States and China were $ 57.6 million and $ 48.0 million, respectively, as of March 31, 2026.

Property, plant and equipment, net (excluding software) and right-of-use assets in Switzerland, the Company s country of domicile, were $ 24.3 23.1 million and $ 25.0 million as of June September 30, 2026 and March 31, 2026, respectively. No other countries represented more than 10% of the Company s total property, plant and equipment, net (excluding software) and right-of-use assets as of June September 30, 2026 or March 31, 2026.

MD&A 149 changes

2 unchanged paragraphs

Our business strategy and investment priorities in relation to evolving consumer and enterprise demand trends, competitive landscape and current and future worldwide geopolitical, economic and capital market conditions, including fluctuations in currency exchange rates, inflation, economic downturns, and disruptions volatile energy prices, changes in global logistics; fiscal and monetary policies, and geopolitical tensions;

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Logitech designs creates design-led, software-enabled hardware solutions that help businesses thrive and bring people together when working, creating, and gaming in the age of AI. 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.

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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, changes in fiscal and monetary policies, and geopolitical tensions, including the armed conflicts in the Middle East and Ukraine.

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. fiscal year 2027, we received a full refund of $61 million for these tariffs, invalidated by the Supreme Court, including $15 million during in the first quarter of fiscal year 2027 and $46 million subsequent to in the second quarter, end. which represent substantially all of the refunds we have requested for the IEEPA tariffs invalidated by the Supreme Court. The $61 million refund was recorded as a reduction of cost of goods sold in our condensed consolidated statements of operations in for the first quarter of fiscal year 2027.

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 subject to appeal. In July 2026, The U.S. government then 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.

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 had a serious incident at its manufacturing facilities, facility, resulting in its temporary closure We currently expect this in late June 2026. The facility closure will impact opened in September 2026 and began ramping up production; however, the facility's current capacity is still below our required level. This supplier incident has impacted our ability to effectively meet demand for certain products and will continue to impact product availability in the second and third quarters quarter of fiscal year 2027.

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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 is compatible with a variety of video conference platforms, including Zoom, Microsoft Teams and Google Meet.

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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, changes in fiscal and monetary policies, and geopolitical tensions, and (iv) the uncertainty of overall consumer and enterprise demand.

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.

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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.

Net income for the three months ended June 30, 2026 was $235.7 million, compared to $146.0 million for the three months ended June 30, 2025.

Our sales for the three months ended September 30, 2026 were $1,227.2 $1,218.8 million, an increase of 3% compared to $1,186.1 million for the three months ended June September 30, 2025, primarily due to an increase in sales of Gaming, Video Collaboration and Keyboards & Combos, offset by a decrease in sales of Tablet Accessories. Our sales for the six months ended September 30, 2026 were $2,446.1 million, an increase of 7% 5% compared to $1,147.7 $2,333.8 million for the three six months ended June September 30, 2025, primarily due to an increase in sales of Gaming, Pointing Devices and Video Collaboration, as well as offset by a decrease in sales of Tablet Accessories. Our sales for both the three- and six-month periods benefited from favorable changes in foreign currency exchange rates.

For the three months ended September 30, 2026, sales increased 13% in the Americas region, remained flat in the Asia Pacific region, and decreased 7% in the EMEA region, compared to the three months ended September 30, 2025. For the six months ended September 30, 2026, sales increased 13% and 4% in the Americas and Asia Pacific regions, respectively, and decreased 4% in the EMEA region, compared to the six months ended September 30, 2025. Our sales in the EMEA region for both the three- and six-month periods were negatively impacted by an overall market decline and the conflict in the Middle East. Our sales in the Asia Pacific region for the three-month period were negatively impacted by higher sales in the prior year due to a large education deal as well as a supply shortage related to the temporary facility closure of one of our suppliers.

Gross margin was 49.5% 44.9% for the three months ended June September 30, 2026 and increased by 780 150 basis points from 41.7% 43.4% for the three months ended June September 30, 2025, due to lower tariff costs, supported by manufacturing diversification, favorable product mix and favorable foreign currency exchange rate changes, partially offset by higher logistics costs. Gross margin was 47.2% for the six months ended September 30, 2026 and increased by 460 basis points from 42.6% for the six months ended September 30, 2025, primarily driven by a benefit from tariff refunds, favorable foreign currency exchange rate changes and favorable product mix, and product cost reduction, partially offset by investment in strategic promotions.

Operating expenses for the three months ended June September 30, 2026 were $349.4 $346.5 million, or 28.5% 28.4% of sales, compared to $316.9 $323.2 million, or 27.6% 27.2% of sales, for the three months ended June September 30, 2025. Operating expenses for the six months ended September 30, 2026 were $695.9 million, or 28.4% of sales, compared to $640.0 million, or 27.4% of sales, for the six months ended September 30, 2025. The increase in operating expenses for both the three- and six-month periods was primarily driven by increases in i n marketing and selling expenses and research and development expenses. .

We had an income tax provision of $39.9 $38.5 million and $28.5 $32.4 million for the three months ended June September 30, 2026 and June 2025 , respectively, compared to $78.3 million and $60.9 million for the six months ended September 30, 2026 and 2025 , respectively.

Net income for the three and six months ended September 30, 2026 was $180.0 million and $415.7 million, respectively, and $170.7 million and $316.7 million for the three and six months ended September 30, 2025, respectively.

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There have been no material changes in our critical accounting estimates during the three six months ended June September 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.

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Our sales for the three months ended June September 30, 2026 i ncreased 7%, were $1,218.8 million, an increase of 3% compared to $1,186.1 million for the three months ended June September 30, 2025, primarily due to an increase in sales of Gaming, Video Collaboration and Keyboards & Combos, offset by a decrease in sales of Tablet Accessories. Our sales for the six months ended September 30, 2026 were $2,446.1 million, an increase of 5% compared to $2,333.8 million for the six months ended September 30, 2025, primarily due to an increase in sales of Gaming, Pointing Devices and Video Collaboration, as well as offset by a decrease in sales of Tablet Accessories. Our sales for both the three- and six-month periods benefited from favorable changes in foreign currency exchange rates. . If currency exchange rates had been constant in the three and six months ended June September 30, 2026 and 2025, our sales growth rate rates in constant currency would have been 5%. 2% and 4%, respectively.

1 unchanged paragraph

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 September 30, 2026, approximately 52% 51% of our sales were denominated in currencies other than the U.S. Dollar.

The following table presents the change in sales by region for the three and six months ended June September 30, 2026, compared with the three and six months ended June September 30, 2025:

1 unchanged paragraph

Asia Pacific 8 % 5 %

September 30, 2026 Six Months Ended

Three Months Ended June September 30, 2026 Three Months Ended June 30, 2026

September 30, 2026 Six Months Ended

Americas 13% 13% 13 % 12%

EMEA (7)% (4)% (6) % (5)%

Asia Pacific % 4% (2) % 2%

The increase in sales in the Americas region for the three-month period presented above was primarily driven by an increase in sales of Video Collaboration, Gaming, and Keyboards & Combos. The increase in sales in the Americas region for the six-month period presented above was primarily driven by an increase in sales of Gaming, Keyboards & Combos, Video Collaboration and Pointing Devices.

The decrease in sales in the EMEA region for the three-month period presented above was primarily driven by a decrease in sales across all product categories . The decrease in sales in the EMEA region for the six-month period presented above was primarily driven by a decrease in sales of Keyboards & Combos, Webcams, and Headsets and Gaming, partially offset by an increase in sales for of Video Collaboration and Tablet Accessories. Sales in the EMEA region were negatively impacted by an overall market decline and the conflict in the Middle East. and an overall market decline.

Sales in the Asia Pacific region remained flat for the three-month period presented above, as a decrease in sales of Tablet Accessories mainly driven by a large education deal in the prior year, was substantially offset by an increase in sales of Gaming. Sales for the three-month period were also negatively impacted by a supply shortage related to the temporary facility closure of one of our suppliers. The increase in sales in the Asia Pacific region for the three-month six-month period presented above was primarily driven by an increase in sales for of Gaming and Pointing Devices, partially offset by a decrease in sales for of Tablet Accessories.

1 unchanged paragraph

Keyboards & Combos 227,798 222,492 2

Pointing Devices 227,312 195,780 16

Video Collaboration 185,260 166,716 11

Webcams 76,581 84,374 (9)

Tablet Accessories 89,395 91,227 (2)

Headsets 44,133 45,523 (3)

Total Sales $ 1,227,234 $ 1,147,703 7 %

Sales by product category for the three and six months ended June September 30, 2026 and 2025 were as follows (Dollars in thousands):

September 30, Six Months Ended

2026 2025 Change 2026 2025 Change

Keyboards & Combos 246,442 235,870 4 474,240 458,362 3

Pointing Devices 230,397 221,094 4 457,709 416,874 10

Video Collaboration 188,446 167,677 12 373,706 334,393 12

Webcams 75,648 83,301 (9) 152,229 167,676 (9)

Tablet Accessories 57,959 85,061 (32) 147,354 176,288 (16)

Headsets 46,052 43,498 6 90,185 89,020 1

Total Sales $ 1,218,838 $ 1,186,056 3 % $ 2,446,072 $ 2,333,759 5 % (1) Gaming includes streaming services revenue generated by Streamlabs.

2 unchanged paragraphs

Sales of Gaming increased 12% 8% and 10% for the three and six months ended June September 30, 2026, compared to the three and six months ended June September 30, 2025, respectively, 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 partially offset by a decline in sales of PC gaming headsets. The increase in sales of Gaming for the six-month period was also driven by an increase in sales of steering wheels .

1 unchanged paragraph

Sales of Keyboards & Combo s increased 2% 4% and 3% for the three and six months ended June September 30, 2026, compared to the three and six months ended June September 30, 2025, respectively, primarily driven by an increase in sales of wireless keyboards and wireless combo products, partially offset by a decrease in sales of wired keyboards. The increase in sales for both the three-month period three- and six-month periods was primarily driven by an increase in sales in the Americas region, partially offset by a decrease in sales in the EMEA region. and Asia Pacific regions.

1 unchanged paragraph

Sales of Pointing Devices increased 16% 4% and 10% for the three and six months ended June September 30, 2026, compared to the three and six months ended June September 30, 2025, respectively, 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. The increase in sales for both the three- and six-month periods was primarily driven by an increase in sales in the Americas and Asia Pacific regions, partially offset by a decrease in sales in EMEA.

1 unchanged paragraph

Sales of Video Collaboration increased 11% 12% for each of the three and six months ended June September 30, 2026, compared to the three and six months ended June September 30, 2025, primarily due to an increase in sales of conference room cameras across all three regions reflecting a refresh of video conferencing equipment installed during the pandemic.

1 unchanged paragraph

Sales of Webcams decreased 9% for each of the three and six months ended June September 30, 2026, compared to the three and six months ended June September 30, 2025, primarily due to a decrease in sales in the EMEA region. and Asia Pacific regions reflecting a global market decline in Webcams.

1 unchanged paragraph

Sales of Tablet Accessories decreased 2% 32% and 16% for the three and six months ended June September 30, 2026, compared to the three and six months ended June September 30, 2025, respectively, primarily due to a decrease in sales in the Asia Pacific region, partially offset by an increase in sales in the EMEA region. and Americas regions. The decline in Asia Pacific was primarily due to a large education deal in the prior year while the decrease in the Americas was mainly driven by a decline in the Tablets market in the region.

1 unchanged paragraph

Sales of Headsets decreased 3% increased 6% and 1% for the three and six months ended June September 30, 2026, compared to the three and six months ended June September 30, 2025, respectively, primarily due to a decrease an increase in sales in the EMEA Americas region, partially offset by an increase a decrease in sales in the Americas EMEA region.

1 unchanged paragraph

Net sales $ 1,227,234 $ 1,147,703 7 %

Gross profit $ 607,940 $ 478,962 27 %

Gross margin 49.5 % 41.7 %

Sales in Other categor y decreased 12% 6% for the three months ended June September 30, 2026, compared to the three months ended June September 30, 2025, primarily driven by a decrease in sales of PC and mobile speakers. Sales in Other categor y decreased 9% for the six months ended September 30, 2026, compared to the six months ended September 30, 2025, primarily driven by a decrease in sales of mobile speakers.

Gross profit for the three and six months ended June September 30, 2026 and 2025 was as follows (Dollars in thousands):

September 30, Six Months Ended

2026 2025 Change 2026 2025 Change

Net sales $ 1,218,838 $ 1,186,056 3 % $ 2,446,072 $ 2,333,759 5 %

Gross profit $ 547,033 $ 514,456 6 % $ 1,154,973 $ 993,418 16 %

Gross margin 44.9 % 43.4 % 47.2 % 42.6 %

1 unchanged paragraph

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.

Marketing and selling $ 219,745 $ 195,796

% of sales 17.9 % 17.1 %

Research and development 84,623 74,587

General and administrative 43,525 41,797

Restructuring charges, net 570 2,042

Total operating expenses $ 349,389 $ 316,868

% of sales 28.5 % 27.6 %

Gross margin was 44.9% for the three months ended September 30, 2026 and increased by 150 basis points from 43.4% for the three months ended September 30, 2025, due to lower tariff costs, supported by manufacturing diversification, favorable product mix and favorable foreign currency exchange rate changes, partially offset by higher logistics costs. Gross margin was 47.2% for the six months ended September 30, 2026 and increased by 460 basis points from 42.6% for the six months ended September 30, 2025, primarily driven by a benefit from tariff refunds, favorable foreign currency exchange rate changes and favorable product mix, partially offset by investment in strategic promotions.

Operating expenses for the three and six months ended June September 30, 2026 and 2025 were as follows (Dollars in thousands):

September 30, Six Months Ended

Marketing and selling $ 219,533 $ 198,993 $ 439,278 $ 394,789

% of sales 18.0 % 16.8 % 18.0 % 16.9 %

Research and development 82,725 76,110 167,348 150,697

% of sales 6.9 6.8 % 6.4 % 6.8 % 6.5 %

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and 69 more changes in the filing

Market risk 3 changes

3 unchanged paragraphs

We are exposed to currency exchange rate risk as we transact business in multiple currencies, including exposure related to anticipated sales, anticipated purchases and assets and liabilities denominated in currencies other than the U.S. Dollar. We transact business in approximately 30 currencies worldwide, of which the most significant to operations are the Euro, Chinese Renminbi, Japanese Yen, Australian Dollar, Canadian Dollar, Pound Sterling, and New Taiwan Dollar. For the three months ended June September 30, 2026, approximately 52% 51% of our sales were denominated in non-U.S. currencies, with 21% 22% of our sales denominated in Euro. The mix of our cost of goods sold and operating expenses by currency are significantly different from the mix of our sales, with a larger portion denominated in U.S. Dollar and less denominated in Euro and other currencies. A strengthening U.S. Dollar has a more unfavorable impact on our sales compared to the favorable impact on our cost of goods sold and operating expenses, resulting in an adverse impact on our operating results.

1 unchanged paragraph

If an adverse 10% foreign currency exchange rate change had been applied to total monetary assets and liabilities denominated in currencies other than the functional currencies at the balance sheet dates, it would have resulted in an adverse effect on income before income taxes of approximately $19.3 $17.7 million and $23.0 million as of June September 30, 2026 and March 31, 2026, respectively. The adverse effect as of June September 30, 2026 and March 31, 2026 is after consideration of the offsetting effect of approximately $11.4 $14.4 million and $11.3 million, respectively, from foreign exchange contracts in place as of such dates.

1 unchanged paragraph

If the U.S. Dollar had weakened by 10%, the amount recorded in AOCI related to our foreign exchange contracts before tax effect as of June September 30, 2026 and March 31, 2026 would have been approximately $37.2 $26.7 million and $38.8 million lower, respectively. The change in the fair value recorded in AOCI would be expected to offset a corresponding foreign currency change in cost of goods sold when the hedged inventory purchases are sold.

Controls and procedures 1 change

7 unchanged paragraphs

There have been no changes in the Company s internal control over financial reporting during the fiscal quarter ended June September 30, 2026, that have materially affected, or are reasonably likely to materially affect, the Company s internal control over financial reporting.

Risk factors 1 change

The Company s business, reputation, results of operations, financial condition and stock price can be affected by a number of factors, whether currently known or unknown, including those described in Part I, Item 1A of the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2026, under the heading Risk Factors. When any one or more of these risks materialize from time to time, the Company s business, reputation, results of operations, financial condition and stock price can be materially and adversely affected. In the first second quarter of fiscal year 2027, there have been no material changes to the risk factors disclosed in the Company's Annual Report on Form 10-K for the fiscal year ended March 31, 2026.

Unregistered sales of stock 15 changes

In the first second quarter of fiscal year 2027, the following approved share repurchase programs were program was in place (in thousands):

1 unchanged paragraph

(2) In March 2026, our Board of Directors approved a new, three-year share repurchase program. The Swiss Takeover Board approved the 2026 share repurchase program in May 2026. See Note 11 to the condensed consolidated financial statements for further information on this share repurchase program.

(1) The 2023 share repurchase program was completed in May 2026. See Note 11 to the condensed consolidated financial statements for further information on this share repurchase program.

The following table presents certain information related to purchases made by Logitech of its equity securities under share repurchase programs during the three months ended June September 30, 2026 (in thousands, except per share amounts):

2 unchanged paragraphs

Repurchased under the Programs (1) Program

1 unchanged paragraph

April 1, 2026 to April 24, 2026

May 23, 2026 to June 26, 2026

(1) The 2023 share repurchase program was completed in May 2026. The 2026 share repurchase program became effective on May 8, 2026.

June 27, 2026 to July 24, 2026

Nasdaq N/A N/A 1,373,130 1,242,385

July 25, 2026 to August 21, 2026

Nasdaq N/A N/A 1,299,245 1,211,428

April 25, August 22, 2026 to May 22, September 25, 2026

Nasdaq N/A N/A 91,822 1,124,465

(2) (1) Shares repurchased on the second trading line on the SIX Swiss Exchange for cancellation under the 2026 share repurchase program.

Other information 3 changes

1 unchanged paragraph

On June 12, 2026 , Samantha Harnett , our Chief Legal Officer , adopted a Rule 10b5-1 trading arrangement providing for the sale of an aggregate of up to 16,265 shares of our registered shares acquired by Ms. Harnett under our equity plans. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The first date that sales of any shares are permitted to be sold under the trading arrangement will be September 11, 2026. The trading arrangement terminates on June 11, 2027 , or upon the earlier completion of all transactions thereunder.

No other officers or directors, as defined in Rule 16a-1(f), adopted , modified and/or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement, as defined in Item 408 of Regulation S-K, during the last fiscal quarter.

During the first second quarter of fiscal year 2027, the following no director or officer, as defined in Rule 16a-1(f), adopted, modified and/or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement, each as defined in Regulation S-K Item 408.