Logitech has reported financial results for the first quarter of Fiscal Year 2027, marking its tenth consecutive quarter of growth. Sales reached $1.23 billion, up 7% in US dollars and 5 percent in constant currency compared to the same quarter last year.
GAAP operating income climbed 60% to $259 million, while non-GAAP operating income rose 44% to $290 million. Both figures include $61 million in tariff refunds. GAAP earnings per share came in at $1.63, up 66 percent year over year, with non-GAAP EPS at $1.85, up 47%.
The company generated $167 million in cash from operations and closed the quarter with $1.75 billion in cash. Logitech also returned $114 million to shareholders through share repurchases.
Hanneke Faber, Logitech chief executive officer, says the quarter reflected strong execution across the business.
"We delivered a strong first quarter against a dynamic backdrop. Superior innovation and stronger brand marketing drove strong growth across core categories, including double-digit growth in Pointing Devices."
Video Collaboration Sales Climb 11 Percent as Gaming Leads Category Growth
Every major product category grew year over year with the exception of Webcams and Tablet Accessories. Gaming was the standout at $354 million, up 12%, followed by Pointing Devices at $227 million, up 16 percent. Video Collaboration rose 11% to $185 million, while Keyboards & Combos grew 2% to $228 million.
Webcams declined 9% to $77 million and Tablet Accessories fell 2% to $89 million, the only two categories to post a drop against the prior year.
The Video Collaboration growth builds on a run of enterprise-focused product launches from the vendor, including the AI-driven room hardware Logitech brought to InfoComm 2026 and its ongoing investment in device management through Logitech Sync.
Margins Improve Even Excluding Tariff Refunds, Says CFO
Matteo Anversa, Logitech chief financial officer, says the improvement in profitability went beyond the one-off benefit from tariff refunds.
"Our teams demonstrated excellent operational discipline to start the fiscal year. While our reported results benefited from tariff refunds, our operational performance was impressive even excluding these refunds, with non-GAAP operating income growing 14 percent year over year. Strong gross margin resilience allowed us to exceed our operating income outlook and generate robust cash flow while funding our growth investments."
GAAP gross margin reached 49.5%, up 780 basis points on the prior year, with non-GAAP gross margin at 49.8%.
