Logitech forecasts a $220 million revenue shortfall in Q2 and Q3 due to a semiconductor supplier disruption ahead of holiday season.
Logitech reported fiscal Q1 revenue of $1.23 billion, up 7% year-over-year, and non-GAAP operating income of $290 million, a 44% increase. Excluding a $61 million tariff refund, operating profit still rose 14%, outperforming expectations amid weak consumer tech demand.
The company highlighted strong growth in gaming peripherals, video conferencing, and mice, with Americas revenue up 11%. However, a temporary shutdown at a semiconductor supplier will cut Q2 sales by $20 million and Q3 sales by up to $200 million, impacting peak holiday season performance.
Shares fell 5% following the revenue warning, reflecting investor concern over the supply chain disruption.