Logitech International (SIX:LOGN) (Nasdaq:LOGI), in advance of a meeting to be held with financial analysts and investors, today provided an update on its financial outlook and long-term business model.
- Current Fiscal Year 2022 Outlook: Logitech confirmed its recently increased current Fiscal Year 2022 outlook of between 2 and 5 percent sales growth in constant currency, and between $850 million and $900 million in non-GAAP operating income.
- Fiscal Year 2023 Outlook: Logitech announced its Fiscal Year 2023 outlook. Sales growth in constant currency is expected to be in the mid single digits, and non-GAAP operating income is expected to be between $900 million and $950 million.
- Long-Term Business Model: Logitech reaffirmed its long-term business model. Long-term, the expectation for sales growth in constant currency continues to be from 8 to 10 percent. The expected long-term non-GAAP gross margin target is maintained at between 39 and 44 percent. The expected long-term non-GAAP operating margin target is maintained at between 14 and 17 percent.
“As a leader in large and growing markets, with world-class design and innovation capabilities, Logitech is well positioned for long-term growth,” said Bracken Darrell, Logitech president and chief executive officer. “For many years, Logitech’s growth has been fueled by market trends in remote work, video collaboration, esports, and digital content creation. Those trends are poised to continue to grow strongly into the future, and Logitech is poised to grow strongly along with them.”