Logitech Q1 FY24 sales down 16% to $974M; GAAP EPS $0.39; raises H1 outlook

Logitech also provided an estimated full-year outlook for Fiscal Year 2024: Full FY 2024 outlook Sales $3.8 - $4.0 billion Sales decline (in US dollars, year over year) 16% - 12% Non-GAAP operating income $400 - $500 million Non-GAAP op. inc. decline (year over year) 32% - 15%

Logitech raised its outlook for the first half of Fiscal Year 2024: Previous H1 2024 outlook New H1 2024 outlook Sales $1.8 - $1.9 billion $1.875 - $1.975 billion Sales decline (in US dollars, year over year) 22% - 18% 19% - 14% Non-GAAP operating income $160 - $190 million $180 - $220 million Non-GAAP op. inc. decline (year over year) 47% - 37% 40% - 27%

• Sales were $974 million, down 16 percent in US dollars and 15 percent in constant currency, compared to the prior year. • GAAP operating income was $78 million, down 32 percent compared to the prior year. Non-GAAP operating income was $109 million, down 25 percent compared to the prior year. • GAAP earnings per share (EPS) was $0.39, down 36 percent compared to the prior year. Non-GAAP EPS was $0.65, down 12 percent compared to the prior year. • Cash flow from operations was $240 million, up $275 million compared to the prior year. The quarter-ending cash balance was $1.25 billion.