Logitech International confirms 2022 outlook, issues 2023 sales forecast

• Logitech International (NASDAQ:LOGI) confirmed its 2022 outlook of 2-5% sales growth in constant currency, and $850M-900M in non-GAAP operating income.
• LOGI projected 2023 sales growth in constant currency in the mid single digits and non-GAAP operating income is expected to be $900M-950M.
• The company also reaffirmed its long-term business model.
• Long-term expectation for sales growth in constant currency continues to be 8-10%.
• Expected long-term non-GAAP gross margin target is maintained at 39-44%.
• Expected long-term non-GAAP operating margin target is maintained at 14-17%.
• LOGI stock fell 1.4% in premarket trade.