Supplemental Financial Information Q2 Fiscal Year 2024
FORWARD-LOOKING STATEMENTS AND GAAP TO NON-GAAP
RECONCILIATION NOTES
*Note: These preliminary results for the three months ended September 30, 2023 are subject to adjustments, including subsequent
events that may occur through the date of filing of our Quarterly Report on Form 10-Q.
Forward Looking Statements
This presentation includes forward-looking statements within the meaning of the U.S. federal securities laws, including, without limitation, statements regarding our preliminary financial results for
the three months ended September, 2023; Fiscal Year 2024 outlook for sales and non-GAAP operating income; growth expectations; non-GAAP gross margin expectations; capital allocation
strategy; business strategy, including but not limited to product innovation, manufacturing and operations; Al solutions; trends in our business; climate action commitments; CEO search update;
and related assumptions.
These statements are subject to risks and uncertainties that may cause actual results and events to differ materially, including without limitation: macroeconomic and geopolitical conditions and
other factors and their impact, for example changes in inflation levels and monetary policies; our expectations regarding our expense reduction efforts, including the timing thereof; changes in
secular trends that impact our business; if our product offerings, marketing activities and investment prioritization decisions do not result in the sales, profitability or profitability growth we expect, or
when we expect it; if we fail to innovate and develop new products in a timely and cost-effective manner for our new and existing product categories; if we do not successfully execute on our growth
opportunities or our growth opportunities are more limited than we expect; the effect of demand variability, supply shortages and other supply chain challenges; the effect of pricing, product,
marketing and other initiatives by our competitors, and our reaction to them, on our sales, gross margins and profitability; if we are not able to maintain and enhance our brands; if our products and
marketing strategies fail to separate our products from competitors' products; if we do not efficiently manage our spending; our expectations regarding our restructuring efforts, including the timing
thereof; if there is a deterioration of business and economic conditions in one or more of our sales regions or product categories, or significant fluctuations in exchange rates; changes in trade
regulations, policies and agreements and the imposition of tariffs that affect our products or operations and our ability to mitigate; if we do not successfully execute on strategic acquisitions and
investments; risks associated with acquisitions; and the effect of changes to our effective income tax rates. A detailed discussion of these and other risks and uncertainties that could cause actual
results and events to differ materially from such forward-looking statements is included in Logitech's periodic filings with the Securities and Exchange Commission ("SEC"), including our Annual
Report on Form 10-K for the fiscal year ended March 31, 2023, our Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, and our subsequent reports filed with the SEC, available at
www.sec.gov, under the caption Risk Factors and elsewhere. Logitech does not undertake any obligation to update any forward-looking statements to reflect new information or events or
circumstances occurring after the date of this presentation.
Non-GAAP Financial Measures
To facilitate comparisons to Logitech's historical results, we have included non-GAAP adjusted measures in this presentation, which exclude share-based compensation expense, amortization of
intangible assets, acquisition-related costs, restructuring charges (credits), net, loss (gain) on investments, non-GAAP income tax adjustment, and other items detailed under "Supplemental
Financial Information" in our earnings press release posted to our website under "Quarterly Results" at http://ir.logitech.com.
We also present percentage sales growth in constant currency ("CC"), a non-GAAP measure, to show performance unaffected by fluctuations in currency exchange rates. Percentage sales growth
in constant currency is calculated by translating prior period sales in each local currency at the current period's average exchange rate for that currency and comparing that to current period sales.
Logitech believes information will help investors valuate its current period perform ice, outlook and trends in its business. With respect our outlook for non-GAAP operating income,
most of the excluded amounts pertain to events that have not yet occurred and are not currently possible to estimate with a reasonable degree of accuracy. Therefore, no reconciliation to the
GAAP amounts has been provided for the Fiscal year 2024 non-GAAP operating income outlook.
Q2 FISCAL YEAR 2024 (QUARTER ENDED September 30, 2023)
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