Logitech International S.A. (NASDAQ:LOGI) Q1 2025 Earnings Conference Call July 23, 2024 8:30 AM ET

Company Participants

Nate Melihercik - Head of Global Investor Relations
Hanneke Faber - Chief Executive Officer
Meeta Sunderwala - Interim Chief Financial Officer

Conference Call Participants

Joern Iffert - UBS
Ananda Baruah - Loop Capital

Operator

Good morning and good afternoon. Welcome to Logitech's Video Call to discuss our Financial Results for the First Quarter Fiscal Year 2025. Joining us today are Hanneke Faber, our CEO, and Meeta Sunderwala, our Interim CFO.

During this call, we will make forward-looking statements, including with respect to future operating results under the Safe Harbor of the Private Securities Litigation Reform Act of 1995. We're making these statements based on our views only as of today. Our actual results could differ materially. We undertake no obligation to update or revise any of these statements. We will also discuss non-GAAP financial results. You can find a reconciliation between GAAP and non-GAAP results, and information about our use of non-GAAP measures and factors that could impact our financial results and forward looking statements in our press release and in our filings with the SEC. These materials, as well as the shareholder letter and a webcast of this call, are all available at the Investor Relations page of our website. We encourage you to review these materials carefully. Unless noted otherwise, comparisons between periods are year-over-year and in constant currency in net sales. This call is being recorded and will be available for a replay on our website.

I will now turn the call over to Hanneke.

Hanneke Faber

Thank you, Nate and welcome everyone to our first earnings call of our 2025 fiscal year. Pleased to say that we started the year real strong. We delivered 13% year-over-year growth and 430 basis points of margin expansion while generating strong levels of cash, further bolstering our balance sheet.

Given the healthy momentum in our business, the market share gains we've seen in most of our key product categories, and the confidence in our ability to execute, we are raising our fiscal 2025 outlook, which I'll touch on shortly. You can read the full details of our quarter in our shareholder letter, which will give you a full review of our operating and financial performance. But I'd like to spend a few minutes on this call to provide some color and context to our results, and then we'll transition to Q&A.