Logitech stock posts another growth quarter as chip risk shifts to Q3

Logitech reported another quarter of year-over-year growth on October 27, while warning that a semiconductor supplier incident will weigh on the holiday quarter. Logitech stock traded at 88.86 euros on Lang & Schwarz at 11:39 CET on Wednesday, November 11, 2026.

The company's October 27 earnings release said sales reached 1.219 billion US dollars in the three months ended September 30, up 3 percent in US dollars and 2 percent in constant currency from the prior-year quarter. Logitech said the period marked its eleventh consecutive quarter of growth.

Core Categories Keep Growing

Gaming sales increased 8 percent to 349.3 million US dollars, while Video Collaboration revenue rose 12 percent to 188.4 million US dollars. Keyboards and Combos and Pointing Devices each gained 4 percent. Webcams declined 9 percent and Tablet Accessories fell 32 percent, showing that growth remained uneven across the portfolio.

GAAP operating income rose 5 percent to 201 million US dollars. Non-GAAP operating income reached 231 million US dollars, compared with 230 million US dollars a year earlier, while non-GAAP gross margin expanded to 45.2 percent from 43.8 percent. Logitech also generated 164 million US dollars in operating cash flow during the quarter.

Holiday Supply Risk Remains

One semiconductor supplier closed its manufacturing facility at the end of June after a serious incident. The facility reopened in September and began ramping production, but capacity remained below Logitech's requirements when the company issued its outlook. Management expects full production by the end of calendar 2026 and says the incident should be largely resolved by fiscal Q4.

For fiscal Q3, which covers the October-to-December holiday period, Logitech guides to sales of 1.36 billion to 1.43 billion US dollars. That range represents a year-over-year change of minus 4 percent to plus 1 percent in US dollars, or minus 5 percent to flat in constant currency, and includes an estimated 70 million to 80 million US dollar impact from the supplier incident. Non-GAAP operating income is expected to range from 220 million to 255 million US dollars.

The outlook places product availability and logistics execution at the center of the investment case for the next quarter. At the same time, continued demand in Gaming and Video Collaboration gives Logitech an operating base from which to absorb the temporary component pressure. The company returned 406 million US dollars to shareholders through its annual dividend and share repurchases during Q2.

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