Logitech (LOGN) Q2 2026 earnings summary

Executive summary

• Achieved Q2 FY26 sales of $1.19 billion, up 6% in USD and 4% in constant currency year-over-year, driven by growth in Keyboards & Combos, Pointing Devices, and Gaming, with strong demand in Asia Pacific and EMEA regions.

• GAAP operating income rose 19% to $191 million; non-GAAP operating income also up 19% to $230 million year-over-year.

• Net income for the quarter was $170.7 million, a 17% increase from $145.5 million in the prior year period.

• Launched 16 new products, including the MX Master 4 mouse and McLaren Racing Collection, fueling innovation and brand strength.

• B2B demand outpaced consumer, with Logitech for Business now representing about 40% of total sales.

Financial highlights

• Net sales for the quarter were $1,186.1 million, up 6% year-over-year; six-month net sales reached $2,333.8 million, up 6% year-over-year.

• Non-GAAP operating income reached $230 million, up 19% year-over-year; GAAP operating income was $191.3 million.

• Non-GAAP gross margin was 43.8%, flat year-over-year; GAAP gross margin was 43.4%, down 20 basis points.

• Cash flow from operations was $230 million, with quarter-end cash balance at $1.4 billion.

• Returned $340 million to shareholders via dividends and share repurchases.

Outlook and guidance

• Q3 FY26 sales expected between $1.375 billion and $1.415 billion, representing 3%-6% year-over-year growth in USD and 1%-4% in constant currency.

• Gross margin rate guided between 42%-43%; non-GAAP operating income expected between $270 million and $290 million.

• Outlook reflects continued strong momentum but accounts for U.S. consumer and macroeconomic uncertainties.

• The company plans to continue investing in B2B capabilities and new product launches to drive growth.