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Mar 31, 2022
Logitech Q4 2022 Earnings Report
Logitech's Q4 2022 sales decreased by 20% and profits exceeded FY22 outlook.
Key Takeaways
Logitech delivered record sales for FY2022, marking the ninth consecutive year of growth. However, Q4 sales were down 20% compared to the prior year. The company beat its original profit target by over $100 million.
Sales were $1.23 billion, a decrease of 20% in US dollars compared to Q4 of the prior year.
GAAP operating income declined 56% to $129 million.
Non-GAAP operating income decreased by 52% to $156 million.
FY22 sales reached a record $5.48 billion, up 4% in US dollars.
Logitech
Logitech
Logitech Revenue by Segment
Revenue by Segment
Gaming Revenue
CapyFin.comKeyboards & Combos Revenue
CapyFin.comPointing Devices Revenue
CapyFin.comVideo Collaboration Revenue
CapyFin.comWebcams Revenue
CapyFin.comTablet Accessories Revenue
CapyFin.comHeadsets Revenue
CapyFin.com Forward Guidance
Logitech reduced its Fiscal Year 2023 outlook, removing the estimate of annual sales and profits that would have been generated in Ukraine and Russia.
Challenges Ahead
- Sales growth in constant currency is now expected to be between 2 and 4 percent.
- Non-GAAP operating income is expected to be between $875 million and $925 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income