In a sign that demand for accessories and boardroom communication gear is still strong Logitech has reported a 5% lift in sales with Australia and Asia Pacific a major contributor.

The biggest maker of keyboards mice and office accessories the Swiss based Company reported that sales had come in at US$1.15 billion, up 5% compared to Q1 of the prior year.

Gross margin was 41.7% which was, down 110 basis points, compared to Q1 of the prior year.

This has been attributed to heavy retail discounting.

Operating income was US$162 million, up 6% compared to Q1 of the prior year.

Cash flow from operations was US$125 million.

The quarter-ending cash balance was US$1.5 billion.

The Company returned $122 million of cash to shareholders through share repurchases.

“We delivered a strong first quarter – an encouraging start to the new fiscal year that underscores Logitech’s resilience in a challenging environment,” said Hanneke Faber, Logitech chief executive officer. “Our growth was driven by our strategic priorities and strong demand. Superior innovation drove growth in all key categories. We grew robustly both in our B2B and consumer channels. And we executed well across all regions – with notably strong performance in Asia Pacific.”

“Our teams executed with excellence in the first quarter – we showed once again that Logitech thrives in uncertain times,” said Matteo Anversa, Logitech chief financial officer. “Through our focus on playing offense, controlling costs and being agile, we delivered mid-single-digit sales growth year over year, with an expansion in non-GAAP operating margin of 80 basis points.”

Outlook

  • Despite continued uncertainties in the operating environment, we are providing a financial outlook for the second quarter of FY26:
  • Q2 FY26 outlook
  • Sales
  • $1,145 – $1,190 million
  • Sales growth (in US dollars, year over year)
  • 3% – 7%
  • Sales growth (in constant currency, year over year)
  • 1% – 5%
  • Non-GAAP operating income
  • $180 – $200 million