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v3.25.1

Segment Information | 12 Months Ended
--- | ---
Mar. 31, 2025
Segment Reporting [Abstract] |
Segment Information | Segment Information The Company manages its business activities on a consolidated basis and operates as a single operating segment: Peripherals. The operating segment encompasses the design, manufacturing and sales of peripherals for gaming, PCs, tablets, video conferencing, and other digital platforms. The Company's Chief Operating Decision Maker (the “CODM”) is the Chief Executive Officer. The CODM periodically reviews information such as sales and net income to make business decisions and evaluate performance. The CODM uses net income to evaluate income generated from segment assets (return on assets) in deciding whether to reinvest profits into the Peripherals segment or into other parts of the entity, such as for acquisitions, share repurchase or to pay dividends. The CODM also monitors budget versus actual net income results. The following table presents segment revenue, gross profit, and net income for the periods presented:
| Years Ended March 31,
| 2025 |  | 2024 |  | 2023
Net sales | $ | 4,554,900 |  |  | $ | 4,298,467 |  |  | $ | 4,538,818 |
Less: Significant segment expenses |  |  |  |  |
Cost of goods sold (1) | 2,572,724 |  |  | 2,501,414 |  |  | 2,800,803 |
Marketing and selling (1) | 774,036 |  |  | 694,530 |  |  | 774,475 |
Research and development (1) | 288,828 |  |  | 269,407 |  |  | 265,504 |
General and administrative (1) | 144,680 |  |  | 133,787 |  |  | 109,504 |
Less: other segment items |  |  |  |  |
Share-based compensation expense | 89,913 |  |  | 82,889 |  |  | 70,782 |
Amortization of intangible assets and acquisition-related costs | 20,249 |  |  | 21,962 |  |  | 24,708 |
Interest income | (54,997) |  |  | (50,636) |  |  | (18,331) |
Other (2) | 12,595 |  |  | 23,518 |  |  | 47,851 |
Provision for income taxes | 75,343 |  |  | 9,453 |  |  | 98,947 |
Net income | $ | 631,529 |  |  | $ | 612,143 |  |  | $ | 364,575 |
(1) The difference between the amounts included in the table above and the amounts included in the consolidated statements of operations is related to share-based compensation expense (see Note 4). (2) Includes restructuring charges, net, impairment of intangible assets, change in fair value of contingent consideration for business acquisition, and other income (expense), net, as applicable. Sales by product category for fiscal years 2025, 2024 and 2023 were as follows (in thousands):
|  | Years Ended March 31,
|  | 2025 |  | 2024 |  | 2023
Gaming (1) |  | $ | 1,338,467 |  |  | $ | 1,231,063 |  |  | $ | 1,288,313 |
Keyboards & Combos |  | 882,643 |  |  | 821,441 |  |  | 836,432 |
Pointing Devices |  | 788,784 |  |  | 742,987 |  |  | 728,357 |
Video Collaboration |  | 626,000 |  |  | 609,361 |  |  | 677,923 |
Webcams |  | 315,520 |  |  | 325,225 |  |  | 378,688 |
Tablet Accessories |  | 299,540 |  |  | 254,060 |  |  | 254,374 |
Headsets |  | 179,710 |  |  | 168,478 |  |  | 176,576 |
Other (2) |  | 124,236 |  |  | 145,852 |  |  | 198,155 |
Total Sales |  | $ | 4,554,900 |  |  | $ | 4,298,467 |  |  | $ | 4,538,818 |
(1) Gaming includes streaming services revenue generated by Streamlabs. (2) Other primarily consists of mobile speakers and PC speakers. Sales by geographic region (based on the customers' locations) for fiscal years 2025, 2024 and 2023 were as follows (in thousands):
|  | Years Ended March 31,
|  | 2025 |  | 2024 |  | 2023
Americas |  | $ | 1,973,374 |  |  | $ | 1,896,258 |  |  | $ | 1,930,908 |
EMEA |  | 1,413,855 |  |  | 1,301,515 |  |  | 1,299,657 |
Asia Pacific |  | 1,167,671 |  |  | 1,100,694 |  |  | 1,308,253 |
Total Sales |  | $ | 4,554,900 |  |  | $ | 4,298,467 |  |  | $ | 4,538,818 |
Revenue from sales to customers in the United States represented 35%, 36% and 35% of sales in fiscal years 2025, 2024 and 2023, respectively. Revenue from sales to customers in Germany represented 12%, 14% and 14% of sales in fiscal years 2025, 2024 and 2023, respectively. Revenue from sales to customers in China represented 10%, 10% and 11% of sales in fiscal years 2025, 2024 and 2023, respectively. No other country represented more than 10% of sales during these periods presented herein. Revenue from sales to customers in Switzerland, the Company's country of domicile, represented 3%, 2%, and 3% of sales for fiscal year 2025, 2024 and 2023, respectively. Property, plant and equipment, net (excluding software) and right-of-use assets by geographic region were as follows (in thousands):
|  | March 31,
|  | 2025 |  | 2024
Americas |  | $ | 61,521 |  |  | $ | 67,762 |
EMEA |  | 47,874 |  |  | 30,819 |
Asia Pacific |  | 60,710 |  |  | 58,901 |
Total |  | $ | 170,105 |  |  | $ | 157,482 |
Property, plant and equipment, net (excluding software) and right-of-use assets in the United States, China, and Ireland were $60.0 million, $43.4 million and $14.5 million, respectively, as of March 31, 2025. Property, plant and equipment, net (excluding software) and right-of-use assets in the United States, China, and Ireland were $66.5 million, $41.2 million, and $16.2 million, respectively, as of March 31, 2024. Property, plant and equipment, net (excluding software) and right-of-use assets in Switzerland, the Company's country of domicile, were $24.1 million and $9.0 million as of March 31, 2025 and 2024, respectively. No other countries represented more than 10% of the Company's total consolidated property, plant and equipment, net (excluding software) and right-of-use assets as of March 31, 2025 or 2024.

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