8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange act of 1934

Date of Report (Date of earliest event reported):

May 13, 2021

PLANTRONICS, INC.

(Exact name of Registrant as Specified in its Charter)

Delaware	1-12696	77-0207692
(State or Other Jurisdiction of Incorporation)	(Commission file number)	(I.R.S. Employer Identification No.)

345 Encinal Street

Santa Cruz, California 95060

(Address of Principal Executive Offices including Zip Code)

(831) 426-5858

(Registrant's Telephone Number, Including Area Code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
COMMON STOCK, $0.01 PAR VALUE	PLT	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 2.02 Results of Operations and Financial Condition

On May 13, 2021, Plantronics, Inc. ("the Company"), a Delaware corporation, issued a press release and accompanying Company overview presentation reporting its preliminary and unaudited results of operations and financial condition for the fourth quarter of Fiscal Year 2021, which ended on April 3, 2021. Copies of these documents are furnished as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K.

The information contained in this Item 2.02, as well as Exhibits 99.1 and 99.2 attached hereto, are intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (the "Exchange Act") or otherwise subject to the liabilities of that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 8.01 Other Events

On May 13, 2021, the Company issued a press release announcing the planned change in its ticker symbol on the New York Stock Exchange to “POLY,” effective at the open of market trading on Monday, May 24, 2021. The press release is included as Exhibit 99.3 to this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits

The following exhibits are filed as part of this Current Report on Form 8-K:

Exhibit Number	Description
99.1	Press release issued by Plantronics, Inc. on May 13, 2021, entitled "Poly Announces Fourth Quarter and Full-Year Fiscal Year 2021 Financial Results"
99.2	Company overview presentation issued by Plantronics, Inc. on May 13, 2021, entitled "Q4 FY21 Financial Results"
99.3	Press release issued by Plantronics, Inc. on May 13, 2021, entitled "Poly Announces NYSE Ticker Symbol Change from “PLT” to “POLY”"

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. 

Date:	May 13, 2021	PLANTRONICS, INC.
		By:	/s/ Charles D. Boynton
		Name:	Charles D. Boynton
		Title:	Executive Vice President and Chief Financial Officer

EX-99.1

Poly Announces Fourth Quarter and Full-Year Fiscal 2021 Financial Results

Delivers Strong Revenue and Profitability Driven by Record Video Sales as Long-Term Trends Toward Hybrid Work and Video Collaboration Accelerate

New Products, Partnerships, and Distribution Strategies Target Post-Pandemic Environment and Evolving Purchasing Patterns

Improved Operational Execution Drives Strong Operating Cash Flow

SANTA CRUZ, Calif., - May 13, 2021 - Poly (NYSE: PLT), a global outfitter of professional-grade audio and video technology, today announced fourth quarter and full fiscal year results for the period ended April 3, 2021.

Highlights for the fourth quarter include:

•Poly sales momentum continues with fiscal Q4 revenues growing 17% year over year, driven primarily by Video, which more than doubled to a record high, and Professional Headsets, which grew 20%, from the prior year quarter, reflecting the continued shift towards reliable, high-fidelity solutions for hybrid work and video collaboration.

•The Company announced Poly Voyager Focus 2, the next generation of Poly's most popular wireless headset and Poly Rove, a wireless DECT IP phone that is the first and only phone to exclusively feature built-in Microban antimicrobial product protection. In addition, Poly introduced the Savi 7300 Office Series of professional headsets with ultra-secure DECT connectivity to keep your private conversations private. Poly shipped its 30 millionth IP phone in the quarter.

•The Poly Sync speakerphone and Studio P15 personal video bar won the prestigious Red Dot Awards for outstanding industrial design. The Poly Studio P15 also won the iF Design Award for design and technical excellence. TMCnet selected Poly Rove with Microban and the Poly Studio P Series as UC Products of the Year. Lastly the Poly Studio P Series and Poly Lens won the Compass Intelligence awards for Top B2B Workplace Device and Enterprise Software Innovation, respectively.

•Exceptionally strong operating cash flow of $74M in the quarter allowed the Company to continue de-levering, retiring $100M of the outstanding Term Loan in the quarter.

•Poly refinanced the outstanding $481M of 5.5% bonds due 2023 with $500M of 4.75% bonds due 2029, reducing the coupon and pushing its nearest-term maturity to 2025.

“We delivered record sales in headsets and video gear in a year that started with a pandemic-related factory shutdown and continued with a global health crisis and a fundamental change to the places and ways work gets done,” said Dave Shull, Poly President and Chief Executive Officer. “Even as we turn 60 years old this month, we are poised to act aggressively as a new and audacious company, with a new management team and a new vision. The future of enterprise communications isn’t just headsets, cameras and phones, it's comprehensive business infrastructure solutions, combining hardware, software and services, that support and connect the modern workforce.”

“We executed well during an extraordinary time to complete Poly’s turnaround and produce results,” continued Chief Financial Officer Chuck Boynton. “We’ve strengthened our balance sheet and have given ourselves flexibility by refinancing and retiring debt; we’ve managed costs while investing in new products and technologies; and we’re improving our supply chain. While we see new challenges ahead, including tightness in component markets which will affect near-term revenue, we believe we are better positioned today to manage these challenges. Everyone at Poly is focused on delivering growth.”

1

($ Millions, except percent and per-share data)1	Q4 FY21		Q4 FY20		YTD FY21		YTD FY20
GAAP Revenue	$476		$403		$1,728		$1,697
GAAP Gross Margin	44.7	%	(2.6)	%	44.9	%	32.5	%
GAAP Operating Income / (Loss)	$34		($693)		$13		($804)
GAAP Diluted EPS	$0.25		($16.94)		($1.40)		($20.86)
Cash Flow from Operations	$74		$62		$145		$78
Non-GAAP Revenue	$478		$409		$1,742		$1,731
Non-GAAP Gross Margin	48.4	%	49.4	%	49.5	%	51.9	%
Non-GAAP Operating Income	$76		$48		$262		$247
Non-GAAP Diluted EPS	$1.23		$0.30		$3.99		$3.13
Adjusted EBITDA	$86		$60		$302		$293

1 For further information on supplemental non-GAAP metrics, refer to the Use of Non-GAAP Financial Information and Unaudited Reconciliations of GAAP Measures to Non-GAAP Measures sections below.

Results Compared to February 4, 2021 Guidance

	Q4 FY21 Results	Q4 FY21 Guidance Range2
GAAP Net Revenue	$476M	$438M - $468M
Non-GAAP Net Revenue	$478M	$440M - $470M
Adjusted EBITDA	$86M	$70M - $80M
Non-GAAP Diluted EPS	$1.23	$0.80 - $1.00

2 Thenon-GAAP revenue guidance range shown here excludes the $1.8 million impact of purchase accounting related to recording deferred revenue at fair value at the time of the Polycom acquisition.

Business Outlook

The global semiconductor chip shortage has impacted companies worldwide and we expect we will continue to experience ongoing tightness in our supply chain. End market demand remains strong for Video and Headsets, while Voice demand is recovering. However, the Company's ability to execute on this demand is subject to availability of certain components.

Absent supply shortages, we believe demand would support sequential revenue growth off the March quarter. However, based on our current supply and expected availability of specific components, the Company expects the following range of financial results for Q1 fiscal 2022 (all amounts assume currency rates remain stable):

	Q1 FY22 Guidance
GAAP Net Revenue	$410M - $430M
Adjusted EBITDA1	$50M - $60M
Non-GAAP Diluted EPS1,2	$0.35 - $0.55

1 Q1 Adjusted EBITDA and non-GAAP diluted EPS guidance excludes estimated intangibles amortization expense of $30.4 million. With respect to adjusted EBITDA and diluted EPS guidance, the Company has determined that it is unable to provide quantitative reconciliations of these forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measures with a reasonable degree of confidence in their accuracy without unreasonable effort, as items including stock-based compensation, litigation gains and losses, and impacts from discrete tax adjustments and tax laws are inherently uncertain and depend on various factors, many of which are beyond the Company's control.

2 Non-GAAP diluted EPS guidance assumes approximately 44 million diluted average weighted shares and a non-GAAP effective tax rate of 14% to 16%.

2

Conference Call and Earnings Presentation

Poly is providing an earnings presentation in combination with this press release. The presentation is offered to provide shareholders and analysts with additional detail for analyzing results. The presentation will be available in the Investor Relations section of our corporate website at investor.poly.com along with this press release. A reconciliation of our GAAP to non-GAAP results is provided at the end of this press release.

We have scheduled a webcast to discuss fourth quarter fiscal year 2021 financial results. The webcast will take place today, May 13, 2021, at 2:00 PM (Pacific Time). All interested investors and potential investors in Poly stock are invited to join. To listen to the webcast, please access the webcast link from our Investor Relations website at investor.poly.com.

A replay of the webcast will be available shortly after its conclusion and can be accessed from our Investor Relations website at investor.poly.com.

Forward Looking Statements Safe Harbor

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to our intentions, beliefs, projections, outlook, analyses or current expectations that are subject to many risks and uncertainties. Such forward-looking statements and the associated risks and uncertainties include, but are not limited to: (i) our beliefs with respect to the length and severity of the COVID-19 (coronavirus) outbreak, and its impact across our businesses, our operations and global supply chain, including (a) our expectations that the virus has caused, and will continue to cause, a shift to a hybrid work environment and that the elevated demand we have experienced in certain product lines, including our Enterprise Headsets and Video devices, will continue over the long term, (b) our belief that we will continue to experience increased customer and partner demand in collaboration endpoints, and that we will be able to design new product offerings to meet the change in demand due to a global hybrid work environment, (c) our expectations related to our Voice product lines, as well as our Services attachment rate for such products, which have been, and may continue to be, negatively impacted as companies have delayed returning their workforces to offices in many countries due to the continued impact of COVID-19; and (d) the impact of the virus on our distribution partners, resellers, end-user customers and our production facilities, including our ability to obtain alternative sources of supply if our production facility or other suppliers are impacted by future shutdowns; (ii) our expectations related to global supply chain disruptions, including our belief that semiconductor chip shortages have impacted companies worldwide both within and outside of our industry, and that we will continue to experience a shortage of adequate component supply, including integrated circuits and manufacturing capacity, long lead times for raw materials and components, increased costs, increased purchase commitments and a delay in our ability to fulfill orders, which has had, and may continue to have, an adverse impact on our business and operating results; (iii) expectations related to our ability to fulfill the backlog generated by supply constraints and to timely supply the number of products to fulfill current and future customer demand; (iv) risks associated with our dependence on manufacturing operations conducted in our own facility in Tijuana, Mexico and through contract manufacturers, original design manufacturers, and suppliers to manufacture our products, to timely obtain sufficient quantities of materials, as well as finished products of acceptable quality, at acceptable prices, and in the quantities necessary for us to meet critical schedules for the delivery of our own products and services and fulfill our anticipated customer demand; (v) risks associated with our ability to secure critical components from sole source suppliers or identify alternative suppliers and/or buy component parts on the open market or completed goods in quantities sufficient to meet our requirements on a timely basis, affecting our ability to deliver products and services to our customers; (vi) our belief that consolidations of suppliers has occurred, and may continue to occur, which may negatively impact our ability to access certain parts and may result in higher prices which will impact our gross margins; (vii) risks related to increased cost of goods sold, including increased freight and other costs associated with expediting shipment and delivery of high-demand products to key markets in order to meet customer demand; (viii) continued uncertainty and potential impact on future quarters if sourcing constraints continue and/or price volatility occurs, which could continue to negatively affect our profitability and/or market share; (ix) our expectations regarding growth objectives related to our strategic initiatives designed to expand our product and service offerings, including expectations relating to our earnings guidance, particularly as economic uncertainty, including, without limitation, uncertainty related to the continued impact of component shortages and continued supply-chain disruptions; and (x) our expectations regarding our ability to control costs, streamline operations, and successfully implement our various cost-reduction activities and realize anticipated cost savings under such cost-reduction initiatives, in addition to other matters discussed in this press release that are not purely historical data. Such forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from the forward-looking statements.

We do not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise.

3

For more information concerning these and other possible risks, please refer to our Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 8, 2020 and other filings with the Securities and Exchange Commission, as well as recent press releases.

About Poly

Poly (NYSE: PLT) creates premium audio and video products so you can have your best meeting -- anywhere, anytime, every time. Our headsets, video and audio-conferencing products, desk phones, analytics software and services are beautifully designed and engineered to connect people with incredible clarity. They’re pro-grade, easy to use and work seamlessly with all the best video and audio conferencing services. With Poly (Plantronics, Inc. – formerly Plantronics and Polycom), you’ll do more than just show up, you’ll stand out. For more information visit www.Poly.com.

Poly and the propeller design are trademarks of Plantronics, Inc. All other trademarks are the property of their respective owners.

INVESTOR CONTACT:
Mike Iburg
Vice President, Investor Relations
(831) 458-7533 MEDIA CONTACT:
Edie Kissko
Vice President, Corporate Communications
(213) 369-3719

4

PLANTRONICS, INC.
SUMMARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
($ in thousands, except per share data)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
	Three Months Ended						Twelve Months Ended
	April 3,			March 28,			April 3,			March 28,
	2021			2020			2021			2020
Net revenues:
Net product revenues	$	410,980		$	338,221		$	1,470,826		$	1,432,736
Net services revenues	65,253			64,822			256,781			264,254
Total net revenues	476,233			403,043			1,727,607			1,696,990
Cost of revenues:
Cost of product revenues	240,811			391,418			863,529			1,049,826
Cost of service revenues	22,606			21,953			87,527			94,929
Total cost of revenues	263,417			413,371			951,056			1,144,755
Gross profit	212,816			(10,328)			776,551			552,235
% of total net revenues	44.7		%	(2.6)		%	44.9		%	32.5		%
Operating expenses:
Research, development, and engineering	52,963			47,569			209,290			218,277
Selling, general, and administrative	126,487			138,482			488,378			595,463
Impairment of goodwill and long-lived assets	—			489,094			—			489,094
Loss (gain), net from litigation settlements	—			419			17,561			(721)
Restructuring and other related charges	(773)			7,080			48,704			54,177
Total operating expenses	178,677			682,644			763,933			1,356,290
Operating income (loss)	34,139			(692,972)			12,618			(804,055)
% of total net revenues	7.2		%	(171.9)		%	0.7		%	(47.4)		%
Interest expense	(24,424)			(22,378)			(82,606)			(92,640)
Other non-operating income (expense), net	920			(562)			5,108			112
Income (loss) before income taxes	10,636			(715,913)			(64,880)			(896,583)
Income tax benefit	(341)			(37,995)			(7,549)			(69,401)
Net income (loss)	$	10,977		$	(677,918)		$	(57,331)		$	(827,182)
% of total net revenues	2.3		%	(168.2)		%	(3.3)		%	(48.7)		%
Earnings (loss) per common share:
Basic	$	0.26		$	(16.94)		$	(1.40)		$	(20.86)
Diluted	$	0.25		$	(16.94)		$	(1.40)		$	(20.86)
Shares used in computing earnings (loss) per common share:
Basic	41,482			40,025			41,044			39,658
Diluted	43,498			40,025			41,044			39,658
Effective tax rate	(3.2)		%	5.3		%	11.6		%	7.7		%

5

PLANTRONICS, INC.
SUMMARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
($ in thousands)
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
	April 3,		March 28,
	2021		2020
ASSETS
Cash and cash equivalents	$	202,560	$	213,879
Restricted cash	493,908		—
Short-term investments	14,559		11,841
Total cash, cash equivalents, restricted cash, and short-term investments	711,027		225,720
Accounts receivable, net	267,464		246,835
Inventory, net	194,405		164,527
Other current assets	65,214		47,946
Total current assets	1,238,110		685,028
Property, plant, and equipment, net	140,875		165,858
Goodwill	796,216		796,216
Purchased intangibles, net	341,614		466,915
Deferred tax and other assets	147,454		143,157
Total assets	$	2,664,269	$	2,257,174
LIABILITIES AND STOCKHOLDERS' DEFICIT
Accounts payable	$	151,244	$	102,159
Accrued liabilities	394,084		373,666
Current portion of long-term debt	478,807		—
Total current liabilities	1,024,135		475,825
Long-term debt, net of issuance costs	1,496,064		1,621,694
Long-term income taxes payable	86,227		98,319
Other long-term liabilities	138,609		144,152
Total liabilities	2,745,035		2,339,990
Stockholders' deficit	(80,766)		(82,816)
Total liabilities and stockholders' deficit	$	2,664,269	$	2,257,174

6

PLANTRONICS, INC.
SUMMARY CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
($ in thousands, except per share data)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
	Three Months Ended				Twelve Months Ended
	April 3,		March 28,		April 3,		March 28,
	2021		2020		2021		2020
Cash flows from operating activities
Net income (loss)	$	10,977	$	(677,918)	$	(57,331)	$	(827,182)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	39,986		57,632		164,867		230,262
Amortization of debt issuance cost	2,465		1,340		6,427		5,402
Stock-based compensation	11,540		15,596		42,644		57,095
Deferred income taxes	(5,801)		(34,595)		(21,174)		(97,031)
Provision for excess and obsolete inventories	760		5,039		13,527		24,115
Restructuring and other related charges	(773)		7,080		48,704		54,177
Cash payments for restructuring charges	(4,970)		(7,384)		(33,764)		(37,269)
Impairment of goodwill and long-lived assets	—		663,329		—		663,329
Other operating activities	10,750		3,380		4,751		6,580
Changes in assets and liabilities:
Accounts receivable, net	47,186		(1,135)		(24,253)		33,499
Inventory, net	(2,053)		42,611		(41,994)		(6,709)
Current and other assets	(10,880)		7,578		(26,126)		31,720
Accounts payable	(16,001)		(21,078)		46,453		(31,768)
Accrued liabilities	(9,323)		(2,369)		38,206		(49,275)
Income taxes	168		2,558		(15,757)		21,074
Net cash provided by operating activities	74,031		61,664		145,180		78,019
Cash flows from investing activities
Proceeds from sales of investments	1,862		1,996		2,529		2,173
Purchase of investments	(197)		(95)		(591)		(1,067)
Capital expenditures	(5,962)		(5,896)		(22,715)		(22,880)
Proceeds from sale of property and equipment	—		2,550		1,900		4,692
Net cash used in investing activities	(4,297)		(1,445)		(18,877)		(17,082)
Cash flows from financing activities
Employees' tax withheld and paid for restricted stock and restricted stock units	(2,737)		(222)		(5,930)		(9,891)
Proceeds from issuances under stock-based compensation plans	6,576		5,869		12,307		12,486
Proceeds from revolving line of credit	—		—		50,000		—
Repayments of revolving line of credit	—		—		(50,000)		—
Repayments of long-term debt	(100,000)		—		(146,980)		(25,000)
Proceeds from debt issuance, net of issuance costs	493,922		—		493,922		—
Payment of cash dividends	—		(6,060)		—		(23,970)
Net cash provided by (used in) financing activities	397,761		(413)		353,319		(46,375)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(1,092)		(2,748)		2,967		(3,192)
Net increase in cash, cash equivalents, and restricted cash	466,403		57,058		482,589		11,370
Cash, cash equivalents, and restricted cash at beginning of period	230,065		156,821		213,879		202,509
Cash, cash equivalents, and restricted cash at end of period	$	696,468	$	213,879	$	696,468	$	213,879

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Use of Non-GAAP Financial Information

To supplement our condensed consolidated financial statements presented on a GAAP basis, we use non-GAAP measures of operating results, including non-GAAP net revenues, non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, adjusted EBITDA, and non-GAAP diluted EPS. These non-GAAP measures are adjusted from the most directly comparable GAAP measures to exclude certain non-cash transactions and activities that are not reflective of our ongoing core operations as further described below. We believe the use of each of these non-GAAP measures provides meaningful supplemental information in assessing our operating performance and liquidity across reporting periods on a consistent basis and are used by management in evaluating financial performance and in strategic planning. These non-GAAP measures may differ from those used by other companies and are not intended to be considered in isolation of, or as a substitute for, financial results prepared in accordance with GAAP.

Non-GAAP Adjustments

•Purchase accounting amortization: Represents the amortization of purchased intangible assets recorded in connection with the acquisition of Polycom on July 2, 2018.

•Deferred revenue purchase accounting: Represents the impact of fair value purchase accounting adjustments related to deferred revenue recorded in connection with the acquisition of Polycom on July 2, 2018. The Company's deferred revenue primarily relates to Service revenue associated with non-cancelable maintenance support on hardware devices which are typically billed in advance and recognized ratably over the contract term as those services are delivered. This adjustment represents the amount of additional revenue that would have been recognized during the period absent the write-down to fair value required under purchase accounting guidelines.

•Impairment charges: During the fourth quarter of fiscal year 2020, the Company determined certain of its long-lived assets, primarily related to purchased intangibles recorded in connection with the acquisition of Polycom, were not recoverable and as a result recorded non-cash impairment charges representing the excess carrying amount over the estimated fair value. Additionally, during the fourth quarter of fiscal year 2020, the Company recorded non-cash impairment charges to its goodwill related to an overall decline in earnings and a sustained decrease in its share price.

•Consumer optimization: Represents charges related to inventory reserves and supplier liabilities for excess and obsolete inventory incurred in connection with the Company's strategic action to optimize its Consumer product portfolio.

•Stock compensation expense: Represents the non-cash expense associated with the Company's issuance of common stock and share-based awards to employees and non-employee directors.

•Restructuring and other related charges: Represents costs associated with restructuring plans and reorganization actions aimed at improving the Company’s overall cost structure and realigning resources consistent with its global strategy. These costs are not reflective of ongoing operations and are primarily associated with reductions in the Company’s workforce, facility related charges due to the closure or consolidation of leased offices, and other related costs including legal and advisory services.

•Integration and rebranding costs: Represents charges incurred in connection with the acquisition and integration of Polycom, such as system implementations, legal and accounting fees.

•Deferred compensation mark-to-market: Represents gains and losses driven by the remeasurement of assets and liabilities associated with the Company’s deferred compensation plans. Gains and losses on plan liabilities are recognized within operating expenses, while the offsetting gains and losses on plan assets are recognized within Other Non-Operating Income (Loss), net.

•Gain (loss) on litigation settlements: The Company may be involved in various litigation, claims and proceedings that result in payments or recoveries from such proceedings. The related gains and losses incurred are excluded as they are not reflective of ongoing operations.

•Income tax effects: Represents the tax effects of the above non-GAAP adjustments and other adjustments depending on the nature of the underlying items. The exclusion of the above-mentioned items eliminates the effect of certain non-recurring and unusual tax items that do not necessarily reflect the Company’s long-term operations.

8

PLANTRONICS, INC.
UNAUDITED RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES
($ in thousands, except per share data)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA
	Three Months Ended				Twelve Months Ended
	April 3,		March 28,		April 3,		March 28,
	2021		2020		2021		2020
GAAP Net revenues	$	476,233	$	403,043	$	1,727,607	$	1,696,990
Deferred revenue purchase accounting	1,796		6,138		14,405		33,953
Non-GAAP Net revenues	$	478,029	$	409,181	$	1,742,012	$	1,730,943
GAAP Gross profit	$	212,816	$	(10,328)	$	776,551	$	552,235
Purchase accounting amortization	16,239		31,018		68,111		122,553
Deferred revenue purchase accounting	1,796		6,138		14,405		33,953
Consumer optimization	—		—		—		10,415
Stock-based compensation	565		998		2,939		3,992
Integration and rebranding costs	—		42		—		1,211
Impairment charges	—		174,235		—		174,235
Non-GAAP Gross profit	$	231,416	$	202,103	$	862,006	$	898,594
Non-GAAP Gross profit %	48.4%		49.4%		49.5%		51.9%
GAAP Research, development, and engineering	$	52,963	$	47,569	$	209,290	$	218,277
Stock-based compensation	(3,045)		(4,270)		(13,785)		(16,785)
Integration and rebranding costs	—		59		—		(2,381)
Other adjustments	—		—		—		(542)
Non-GAAP Research, development, and engineering	$	49,918	$	43,358	$	195,505	$	198,569
GAAP Selling, general, and administrative	$	126,487	$	138,482	$	488,378	$	595,463
Purchase accounting amortization	(14,195)		(15,278)		(56,780)		(61,112)
Stock-based compensation	(7,931)		(10,328)		(25,926)		(36,318)
Deferred compensation mark to market	(917)		—		(3,263)		—
Integration and rebranding costs	—		(2,338)		—		(44,625)
Other adjustments	2,103		—		2,100		—
Non-GAAP Selling, general, and administrative	$	105,547	$	110,538	$	404,509	$	453,408

9

PLANTRONICS, INC.
UNAUDITED RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES
($ in thousands, except per share data)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA (CONTINUED)
	Three Months Ended				Twelve Months Ended
	April 3,		March 28,		April 3,		March 28,
	2021		2020		2021		2020
GAAP Operating expenses	$	178,677	$	682,644	$	763,933	$	1,356,290
Purchase accounting amortization	(14,195)		(15,278)		(56,780)		(61,112)
Stock-based compensation	(10,976)		(14,598)		(39,711)		(53,103)
Restructuring and other related charges	773		(7,080)		(48,704)		(54,177)
Deferred compensation mark to market	(917)		—		(3,263)		—
Integration and rebranding costs	—		(2,279)		—		(47,006)
Loss (gain), net from litigation settlements	—		(419)		(17,561)		721
Impairment charges	—		(489,094)		—		(489,094)
Other adjustments	2,103		—		2,100		(520)
Non-GAAP Operating expenses	$	155,465	$	153,896	$	600,014	$	651,999
GAAP Operating income (loss)	$	34,139	$	(692,972)	$	12,618	$	(804,055)
Purchase accounting amortization	30,434		46,296		124,891		183,665
Stock-based compensation	11,541		15,596		42,650		57,095
Restructuring and other related charges	(773)		7,080		48,704		54,177
Deferred revenue purchase accounting	1,796		6,138		14,405		33,953
Deferred compensation mark to market	917		—		3,263		—
Consumer optimization	—		—		—		10,415
Loss (gain), net from litigation settlements	—		419		17,561		(721)
Integration and rebranding costs	—		2,321		—		48,217
Impairment charges	—		663,329		—		663,329
Other adjustments	(2,103)		—		(2,100)		520
Non-GAAP Operating income	$	75,951	$	48,207	$	261,992	$	246,595

10

PLANTRONICS, INC.
UNAUDITED RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES
($ in thousands, except per share data)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA (CONTINUED)
	Three Months Ended					Twelve Months Ended
	April 3,			March 28,		April 3,			March 28,
	2021			2020		2021			2020
GAAP Net income (loss)	$	10,977		$	(677,918)	$	(57,331)		$	(827,182)
Purchase accounting amortization	30,434			46,296		124,891			183,665
Stock-based compensation	11,541			15,596		42,650			57,095
Restructuring and other related charges	(773)			7,080		48,704			54,177
Deferred revenue purchase accounting	1,796			6,138		14,405			33,953
Consumer optimization	—			—		—			10,415
Impairment charges	—			663,329		—			663,329
Deferred compensation mark to market	(29)			—		55			—
Loss (gain), net from litigation settlements	—			419		17,561			(721)
Integration and rebranding costs	—			2,321		—			48,217
Other adjustments	(2,103)			—		(2,095)			520
Income tax effect of above items	4,198			(47,866)		(11,548)			(92,640)
Income tax effect of unusual tax items	(2,410)		1	(3,502)		(9,832)		1	(5,745)
Non-GAAP Net income	$	53,631		$	11,893	$	167,460		$	125,083
GAAP Diluted earnings per common share	$	0.25		$	(16.94)	$	(1.40)		$	(20.86)
Purchase accounting amortization	0.70			1.15		2.98			4.59
Stock-based compensation	0.27			0.39		1.02			1.43
Restructuring and other related charges	(0.02)			0.18		1.16			1.36
Deferred revenue purchase accounting	0.04			0.15		0.34			0.85
Impairment charges	—			16.49		—			16.61
Consumer optimization	—			—		—			0.26
Loss (gain), net from litigation settlements	—			—		0.42			—
Integration and rebranding costs	—			0.06		—			1.21
Deferred compensation mark to market	—			—		—			—
Other adjustments	(0.05)			—		(0.08)			(0.01)
Income tax effect	0.04			(1.18)		(0.45)			(2.47)
Effect of anti-dilutive securities	—			—		—			0.18
Non-GAAP Diluted earnings per common share	$	1.23		$	0.30	$	3.99		$	3.15
Shares used in diluted earnings per common share calculation:
GAAP	43,498			40,025		41,044			39,658
Non-GAAP	43,498			40,235		41,973			39,978

1 Income tax effect of unusual tax items: Excluded amounts primarily represent the impact of statutory tax rate changes on net deferred tax assets related to intellectual property in the Netherlands enacted during the third quarter of fiscal 2021 and amortization of intellectual property, impact of valuation allowance, and the release of tax reserves during the first quarter of fiscal 2020.

11

PLANTRONICS, INC.
UNAUDITED RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES
($ in thousands)
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA
	Three Months Ended										Twelve Months Ended
	March 28,		June 27,		September 26,		December 26,		April 3,		April 3,
	2020		2020		2020		2020		2021		20212
GAAP Net income (loss)	$	(677,918)	$	(75,015)	$	(13,405)	$	20,113	$	10,977	$	(57,331)
Tax provision	(37,995)		(3,177)		3,013		(7,045)		(341)		(7,549)
Interest expense	22,378		21,184		18,581		18,417		24,424		82,606
Other income and expense	562		(224)		(1,366)		(2,596)		(920)		(5,108)
Deferred revenue purchase accounting	6,138		5,082		4,237		3,289		1,796		14,405
Integration and rebranding costs	2,321		—		—		—		—		—
Stock-based compensation	15,596		9,360		10,263		11,486		11,540		42,644
Restructuring and other related charges	7,080		29,330		6,170		13,977		(773)		48,704
Impairment charges	663,329		—		—		—		—		—
Loss, net from litigation settlements	419		17,561		—		—		—		17,561
Deferred compensation mark to market	—		—		714		1,632		917		3,263
Other adjustments	—		197		(185)		—		(2,103)		(2,091)
Depreciation and amortization	57,632		43,400		40,971		40,510		39,986		164,867
Adjusted EBITDA	$	59,542	$	47,698	$	68,993	$	99,783	$	85,503	$	301,971

2 Certain amounts may not sum due to rounding.

12

EX-99.2

©2021 Plantronics Inc. All rights reserved. 1

©2021 Plantronics Inc. All rights reserved. 2 This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to our intentions, beliefs, projections, outlook, analyses or current expectations that are subject to many risks and uncertainties. Such forward-looking statements and the associated risks and uncertainties include, but are not limited to: (i) our beliefs with respect to the length and severity of the COVID-19 (coronavirus) outbreak, and its impact across our businesses, our operations and global supply chain, including (a) our expectations that the virus has caused, and will continue to cause, a shift to a hybrid work environment and that the elevated demand we have experienced in certain product lines, including our Enterprise Headsets and Video devices, will continue over the long term, (b) our belief that we will continue to experience increased customer and partner demand in collaboration endpoints, and that we will be able to design new product offerings to meet the change in demand due to a global hybrid work environment, (c) our expectations related to our Voice product lines, as well as our Services attachment rate for such products, which have been, and may continue to be, negatively impacted as companies have delayed returning their workforces to offices in many countries due to the continued impact of COVID-19; and (d) the impact of the virus on our distribution partners, resellers, end-user customers and our production facilities, including our ability to obtain alternative sources of supply if our production facility or other suppliers are impacted by future shutdowns; (ii) our expectations related to global supply chain disruptions, including our belief that semiconductor chip shortages have impacted companies worldwide both within and outside of our industry, and that we will continue to experience a shortage of adequate component supply, including integrated circuits and manufacturing capacity, long lead times for raw materials and components, increased costs, increased purchase commitments and a delay in our ability to fulfill orders, which has had, and may continue to have, an adverse impact on our business and operating results; (iii) expectations related to our ability to fulfill the backlog generated by supply constraints and to timely supply the number of products to fulfill current and future customer demand; (iv) risks associated with our dependence on manufacturing operations conducted in our own facility in Tijuana, Mexico and through contract manufacturers, original design manufacturers, and suppliers to manufacture our products, to timely obtain sufficient quantities of materials, as well as finished products of acceptable quality, at acceptable prices, and in the quantities necessary for us to meet critical schedules for the delivery of our own products and services and fulfill our anticipated customer demand; (v) risks associated with our ability to secure critical components from sole source suppliers or identify alternative suppliers and/or buy component parts on the open market or completed goods in quantities sufficient to meet our requirements on a timely basis, affecting our ability to deliver products and services to our customers; (vi) our belief that consolidations of suppliers has occurred, and may continue to occur, which may negatively impact our ability to access certain parts and may result in higher prices which will impact our gross margins; (vii) risks related to increased cost of goods sold, including increased freight and other costs associated with expediting shipment and delivery of high-demand products to key markets in order to meet customer demand; (viii) continued uncertainty and potential impact on future quarters if sourcing constraints continue and/or price volatility occurs, which could continue to negatively affect our profitability and/or market share; (ix) our expectations regarding growth objectives related to our strategic initiatives designed to expand our product and service offerings, including expectations relating to our earnings guidance, particularly as economic uncertainty, including, without limitation, uncertainty related to the continued impact of component shortages and continued supply-chain disruptions; and (x) our expectations regarding our ability to control costs, streamline operations, and successfully implement our various cost-reduction activities and realize anticipated cost savings under such cost- reduction initiatives, in addition to other matters discussed in this press release that are not purely historical data. Such forward-looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from the forward-looking statements. We do not assume any obligation to update or revise any such forward-looking statements, whether as the result of new developments or otherwise. For more information concerning these and other possible risks, please refer to our Annual Report on Form 10-K filed with the Securities and Exchange Commission on June 8, 2020 and other filings with the Securities and Exchange Commission, as well as recent press releases. FORWARD LOOKING STATEMENTS

©2021 Plantronics Inc. All rights reserved. 3 To supplement our condensed consolidated financial statements presented on a GAAP basis, we use non-GAAP measures of operating results, including non-GAAP net revenues, non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, adjusted EBITDA, and non-GAAP diluted EPS. These non-GAAP measures are adjusted from the most directly comparable GAAP measures to exclude, or include where applicable, the effect of purchase accounting on deferred revenue, charges associated with the optimization of our Consumer product line, stock-based compensation, acquisition related expenses, purchase accounting amortization and adjustments, restructuring and other related charges and credits, impairment charges, rebranding costs, other unusual and/or non-cash charges and credits, and the impact of participating securities, all net of any associated tax impact. We also exclude tax benefits from the release of tax reserves, discrete tax adjustments including transfer pricing, tax deduction and tax credit adjustments, and the impact of tax law changes. We adjust these amounts from our non-GAAP measures primarily because management does not believe they are consistent with the development of our target operating model. We believe that the use of non-GAAP financial measures provides meaningful supplemental information regarding our performance and liquidity and helps investors compare actual results with our historical and long-term target operating model goals as well as our performance as a combined company. We believe presenting non-GAAP net revenue provides meaningful supplemental information regarding how management views the performance of the business and underlying performance of our individual product categories. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods; however, non-GAAP financial measures are not meant to be considered in isolation of, or as a substitute for, or superior to, net revenues, gross margin, operating expenses, operating income, operating margin, net income or EPS prepared in accordance with GAAP. A reconciliation between GAAP and Non-GAAP measures for all periods presented in this document is included as an appendix to this document and in our press release regarding our results for Q4 FY21 filed with the SEC on Form 8-K on May 13, 2021. Other historical reconciliations are available at investor.poly.com. USE OF NON-GAAP INFORMATION

©2021 Plantronics Inc. All rights reserved. 4 OVERVIEW & STRATEGY

©2021 Plantronics Inc. All rights reserved. 5 BUSINESS OVERVIEW • Today, Poly is about transformation: of our markets, and our business. • Non-GAAP revenues up 17% Y/Y with Video revenue up 125% (a record high) • New products and GTM strategies target hybrid work and the evolving post-pandemic environment • Strong revenue growth coupled with operational execution drives solid operating cash flow of $74M in the quarter • The company refinanced its 2023 5.5% bonds with 2029 4.75% bonds, while retiring $100M of term loan in the quarter Q4FY21(1) FINANCIAL OVERVIEW • GAAP Revenue of $476M Guidance range of $438M - $468M • Non-GAAP Revenue of $478M Guidance range of $440M - $470M • GAAP EPS of $0.25 • Non-GAAP EPS of $1.23 Guidance range of $0.80 - $1.00 • Adjusted EBITDA of $86M Guidance range of $70M - $80M • Operating cash flow of $74M • Cash and ST Investments of $217M SUMMARY 1 Please refer to the appendix to this presentation and to our press release regarding our Q4 FY21 filed with the SEC on Form 8-K on May 13, 2021 for a reconciliation between GAAP and Non-GAAP measures as used within this presentation.

©2021 Plantronics Inc. All rights reserved. 6 THREE CORE IDEAS 01 Work is no longer a place: it’s what you do, and how you do it. 02 Enterprise communications is no longer about devices: it is about the business infrastructure connecting people, spaces and technology. 03 Poly has the best combination of hardware, software, and services to unify the enterprise communications ecosystem.

©2021 Plantronics Inc. All rights reserved. 7 A COMPELLING VALUE PROPOSITION • Product portfolio expanded to address in-office and remote work • Service offering evolving with new tools for remote management • Distribution strategy adapting to new purchasing patterns Continuous Innovation Turnaround & Transformation • Senior leadership team strengthened, including Chief Transformation and Chief Supply Chain Officers • Solidifying new partnerships and distribution channels • Ongoing cost discipline and balance sheet management • Work is work, regardless of location, and people need to connect reliably and clearly • We make tools, not toys, and our enterprise-grade gear is designed to work from anywhere on any platform • We back it up with industry-leading support and services Our Value Proposition: Stronger than Ever

©2021 Plantronics Inc. All rights reserved. 8 KEY PARTNERS STRONG PARTNER ECOSYSTEM Our neutral approach and award-winning products allow us to partner with a broad range of UC&C platform providers and ITSPs

©2021 Plantronics Inc. All rights reserved. 9 NEW PRODUCT & PARTNER ANNOUNCEMENTS

©2021 Plantronics Inc. All rights reserved. 10 SAVI 7300 OFFICE HEADSET Poly's DECT Headsets Deliver the Ultimate Confidence and Clarity in Your Conversations • Designed with enhanced DECT™ security and Poly's best-in-class audio • Certified for Microsoft Teams POLY ROVE DECT IP PHONE WITH MICROBAN® Poly Rove DECT IP phone is the first and only phone to exclusively feature built-in Microban® antimicrobial product protection • Microban's antimicrobial technology is built-in to Poly hardware for a 99 percent cleaner surface in high-touch workplaces POLY VOYAGER FOCUS 2 HEADSET The Next Generation of Poly’s Most Popular Wireless Headset Designed to Deliver World Class “Focus” • Acoustic Fence technology with Advanced Digital Hybrid Active Noise Cancellation Microsoft Teams certified • Poly Lens and Poly+ support

©2021 Plantronics Inc. All rights reserved. 11 POLY’S VOICE-ACTIVATED ZOOM ROOMS WITH ALEXA FOR BUSINESS Poly introduces a hands-free, voice- activated, control experience for new wave meeting collaboration and the return to the office • Poly Studio X Series with TC8 touch interface, G7500 video conferencing system, and Trio C60 smart conference phone are the latest Zoom Room Appliances to support the Alexa Business offering • Available now, in the United States.

©2021 Plantronics Inc. All rights reserved. 12 POLY SHIPS ITS 30 MILLIONTH IP PHONE Pro-grade, future-proof voice devices trusted by those who are serious about quality audio and pro-grade communication. • Poly's voice solutions feature some of the industry's leading technology in audio innovation, including: smart multi-microphone arrays, HD Voice, Acoustic Fence, and NoiseBlock AI technologies.

©2021 Plantronics Inc. All rights reserved. 13 POLY RACKS UP MAJOR INDUSTRY AWARDS Poly secures 2021 RedDot, iF Design, Compass Intelligence, and TMCnet awards for its latest portfolio of products • RedDot Awards selected the Poly Studio P15 personal video bar and the Poly Sync Family of speakerphones as product design winners • Poly Studio P15 personal video bar selected as this year's iF DESIGN AWARD product category winner • Poly wins the Compass Intelligence Award for Workplace Innovation with the Poly Studio P Series, and Poly Lens Enterprise Software • TMCnet selects Poly Rove + Microban and the Poly Studio P Series as UC Products of the Year

©2021 Plantronics Inc. All rights reserved. 14 Q4 FY21 EARNINGS RESULTS

©2021 Plantronics Inc. All rights reserved. 15 Q4 FINANCIAL SUMMARY1 Non-GAAP Revenue of $478 million, up 17% Y/Y: • Primarily driven by Video and Professional Headsets • Voice revenues remained stable sequentially, but declined 33% y/y Non-GAAP gross margins of 48.4%, down 100 bps Y/Y: • Primarily driven by freight and unfavorable product mix Non-GAAP operating expenses of $155 million, flat Y/Y: • Higher variable compensation offset by cost savings from restructuring and lower travel Non-GAAP operating margin of 15.9%, Adj. EBITDA of $86 million Non-GAAP diluted EPS of $1.23 1 Please refer to the appendix to this presentation and to our press release regarding our Q4 FY21 filed with the SEC on Form 8-K on May 13, 2021, for a reconciliation between GAAP and Non-GAAP measures as used within this presentation.

©2021 Plantronics Inc. All rights reserved. 16 168 237 201 13 4 4 95 67 64 62 113 142 70 67 67$409 $488 $478 Q4 FY20 Q3 FY21 Q4 FY21 232 227 233 115 182 171 62 79 74 $409 $488 $478 Q4 FY20 Q3 FY21 Q4 FY21 NON-GAAP REVENUE BY CATEGORY & REGION ($MM) Professional Headsets Consumer Headsets Voice1 Video1 Services AMER EMEA APAC 1 Restated to move Eagle Eye webcam revenues from Voice to Video

©2021 Plantronics Inc. All rights reserved. 17 TRENDED SELL-THROUGH FOR NEW VIDEO PRODUCTS Based on Sales-Out1 and includes Studio USB, Studio X30, Studio X50, G7500, Studio P Series2 0 10 20 30 40 50 60 70 80 90 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 1 Sales-Out (AKA Sell-Through) data is provided by channel partners. As a result, Poly is unable to ensure the completeness or accuracy of such data. 2 Studio USB began shipping in Q1FY20, G7500 began shipping in Q2FY20, Studio X30 and X50 began shipping in Q3FY20, P Series began shipping in Q4FY21. ($MM)

©2021 Plantronics Inc. All rights reserved. 18 NON-GAAP1 OPERATING DETAILS ($MM) Operating Expenses • Flat Y/Y as increased variable compensation was offset by cost reduction and reduced travel Operating Income • Operating income increase of $28M or 58%, driven primarily by higher revenue and flat operating expenses $154 $155 Q4 FY20 Q4 FY21 37.6% $48 $76 Q4 FY20 Q4 FY21 11.8% Gross Profit • Y/Y increase of $29M but decrease of 100 basis points • Margin rate lower due to freight and product mix $202 $231 Q4 FY20 Q4 FY21 48.4% 32.5% 15.9% 49.4% 1 Please refer to the appendix to this presentation and to our press release regarding our Q4 FY21 filed with the SEC on Form 8-K on May 13, 2021 for a reconciliation between GAAP and Non-GAAP measures as used within this presentation.

©2021 Plantronics Inc. All rights reserved. 19 CASH & INVESTMENTS BRIDGE Q3FY21 – Q4FY21 ($MM) $217 $245

©2021 Plantronics Inc. All rights reserved. 20 TRAILING TWELVE MONTHS ADJUSTED EBITDA ($MM) $60 $48 $69 $100 $86 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 TTM EBITDA: $302M

©2021 Plantronics Inc. All rights reserved. 21 Q1 FY22 GUIDANCE

©2021 Plantronics Inc. All rights reserved. 22 Q1 GUIDANCE (AS OF MAY 13, 2021) Q1 FY22 Guidance GAAP Net Revenue $410M - $430M Adjusted EBITDA1 $50M - $60M Non-GAAP Diluted EPS1,2 $0.35 – $0.55 Poly does not intend to update these targets during the quarter or to report on its progress toward these targets. Poly will not comment on these targets to analysts or investors except by its press release announcing its first quarter fiscal year 2022 results or by other public disclosure. Any statements by persons outside Poly speculating on the progress of the first quarter or full fiscal year 2022 will not be based on internal company information and should be assessed accordingly by investors. Please refer to the appendix in this presentation and to our press release regarding our Q4 FY21 filed with the SEC on Form 8-K on May 13, 2021, for a reconciliation between GAAP and Non-GAAP measures. With respect to adjusted EBITDA and diluted EPS guidance, the Company has determined that it is unable to provide quantitative reconciliations of these forward-looking non-GAAP measures to the most directly comparable forward-looking GAAP measures with a reasonable degree of confidence in their accuracy without unreasonable effort, as items including stock based compensation, acquisition and integration costs, litigation gains and losses, and impacts from discrete tax adjustments and tax laws are inherently uncertain and depend on various factors, many of which are beyond the Company's control. Our business is inherently difficult to forecast, particularly with continuing uncertainty in regional economic conditions, currency fluctuations, customer cancellations and rescheduling, and there can be no assurance that expectations of incoming orders over the balance of the current quarter will materialize. 1 Q1 Adjusted EBITDA and non-GAAP diluted EPS excludes estimated intangibles amortization expense of $30.4 million. 2 EPS Guidance assumes approximately 44 million diluted average weighted shares and a non-GAAP effective tax rate of 14% to 16%. The global semiconductor chip shortage has impacted companies worldwide and we expect we will continue to experience ongoing tightness in our supply chain. End market demand remains strong for Video and Headsets, while Voice demand is recovering. However, the Company's ability to execute on this demand is subject to availability of certain components. Absent supply shortages, we believe demand would support sequential revenue growth off the March quarter. However, based on our current supply and expected availability of specific components, the Company expects the following range of financial results for Q1 fiscal 2022 (all amounts assume currency rates remain stable):

©2021 Plantronics Inc. All rights reserved. 23 GAAP PURCHASE ACCOUNTING FORECAST 4 Quarter Rolling Forecast ($MM) Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 COGS–Intangibles Amortization $16.2 $16.2 $16.2 $16.2 SG&A–Intangibles Amortization $14.2 $11.6 $11.6 $11.2

©2021 Plantronics Inc. All rights reserved. 24 SUPPLEMENTAL DATA & GAAP TO NON-GAAP RECONCILIATIONS

©2021 Plantronics Inc. All rights reserved. 25 TRENDED NON-GAAP INFORMATION ($MM, except EPS data) Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 FY21 Non-GAAP Revenue $460 $470 $392 $409 $1,731 $361 $415 $488 $478 $1,742 Gross Profit $257 $246 $193 $202 $899 $180 $203 $247 $231 $862 Gross Margin 55.8% 52.4% 49.4% 49.4% 51.9% 50.0% 48.9% 50.7% 48.4% 49.5% Op. Expense $171 $165 $162 $154 $652 $144 $144 $157 $155 $600 Op. Income $86 $81 $31 $48 $247 $37 $59 $90 $76 $262 Op. Margin 18.6% 17.3% 8.0% 11.8% 14.2% 10.2% 14.3% 18.4% 15.9% 15.0% Diluted EPS $1.32 $1.24 $0.30 $0.30 $3.13 $0.33 $0.93 $1.47 $1.23 $3.99 Adj. EBITDA $98 $93 $43 $60 $293 $48 $69 $100 $86 $302 Op. Cash Flow $8 $25 -$17 $62 $78 $42 $-1 $31 $74 $145 Certain amounts may not sum due to rounding

©2021 Plantronics Inc. All rights reserved. 26 TRENDED NON-GAAP REVENUE DATA Non-GAAP Rev by Category ($MM) Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 FY21 Voice1 $104 $99 $80 $95 $377 $46 $44 $67 $64 $221 Video1 $61 $90 $70 $62 $284 $71 $101 $113 $142 $427 Services $77 $75 $75 $70 $297 $69 $67 $67 $67 $270 Prof Headsets $187 $176 $137 $168 $668 $169 $195 $237 $201 $802 Cons Headsets $31 $30 $30 $13 $105 $6 $8 $4 $4 $22 Total Revenue $460 $470 $392 $409 $1,731 $361 $415 $488 $478 $1,742 Non-GAAP Revenue by Geography Americas $261 $248 $207 $232 $948 $199 $210 $227 $233 $869 EMEA $119 $131 $108 $115 $473 $95 $131 $182 $171 $579 APAC $80 $91 $77 $62 $310 $67 $74 $79 $74 $294 Total Revenue $460 $470 $392 $409 $1,731 $361 $415 $488 $478 $1,742 1 Restated to move Eagle Eye webcam revenues from Voice to Video Certain amounts may not sum due to rounding

©2021 Plantronics, Inc. Poly and the propeller design are trademarks of Plantronics, Inc. 27 THANK YOU

UNAUDITED RECONCILIATIONS OF GAAP NET REVENUE TO NON-GAAP NET REVENUE ($ in thousands) Three Months Ended March 28, June 27, September 26, December 26, April 3, 2020 2020 2020 2020 2021 Net revenues from unaffiliated customers: Enterprise Headsets1 $ 168,002 $ 169,234 $ 195,128 $ 237,473 $ 201,279 Consumer Headsets1 12,962 5,516 7,712 3,435 3,674 Voice 95,265 50,681 49,069 67,076 64,449 Video 61,992 66,027 95,768 112,727 141,578 Services 64,822 64,262 63,292 63,974 65,252 Total GAAP net revenues 403,043 355,720 410,969 484,685 476,232 Deferred revenue purchase accounting2 6,138 5,082 4,237 3,289 1,797 Total non-GAAP net revenues $ 409,181 $ 360,802 $ 415,206 $ 487,974 $ 478,029 Net revenues by geographic area from unaffiliated customers: Americas $ 229,900 $ 197,350 $ 209,001 $ 226,433 $ 232,212 EMEA 113,738 94,105 130,399 181,429 170,922 APAC 59,405 64,265 71,569 76,823 73,098 Total GAAP net revenues 403,043 355,720 410,969 484,685 476,232 Deferred revenue purchase accounting2 6,138 5,082 4,237 3,289 1,797 Total non-GAAP net revenues $ 409,181 $ 360,802 $ 415,206 $ 487,974 $ 478,029 1 Restated to move mono premium product revenues from Consumer Headsets to Enterprise Headsets. 2 Represents the impact of fair value purchase accounting adjustments related to deferred revenue recorded in connection with the acquisition of Polycom on July 2, 2018. The Company’s deferred revenue primarily relates to Service revenue associated with non-cancelable maintenance support on hardware devices which are typically billed in advance and recognized ratably over the contract term as those services are delivered. This adjustment represents the amount of additional revenue that would have been recognized during the period absent the write-down to fair value required under purchase accounting guidelines.

PLANTRONICS, INC. UNAUDITED RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES ($ in thousands, except per share data) UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS DATA Three Months Ended March 28, June 27, September 26, December 26, April 3, 2020 2020 2020 2020 2021 GAAP Net revenues $ 403,043 $ 355,720 $ 410,969 $ 484,685 $ 476,233 Deferred revenue purchase accounting1 6,138 5,082 4,237 3,289 1,796 Non-GAAP Net revenues $ 409,181 $ 360,802 $ 415,206 $ 487,974 $ 478,029 GAAP Gross profit $ (10,328) $ 156,332 $ 180,746 $ 226,657 $ 212,816 Purchase accounting amortization2 31,018 18,238 17,176 16,459 16,239 Deferred revenue purchase accounting1 6,138 5,082 4,237 3,289 1,796 Acquisition, integration, and rebranding fees 42 — — — — Stock-based compensation 998 833 742 799 565 Impairment charges 174,235 — — — — Non-GAAP Gross profit $ 202,103 $ 180,485 $ 202,901 $ 247,204 $ 231,416 Non-GAAP Gross profit % 49.4 % 50.0 % 48.9 % 50.7 % 48.4 % GAAP Operating expenses $ 682,644 $ 213,564 $ 173,923 $ 197,768 $ 178,677 Acquisition, integration, and rebranding fees (2,279) — — — — Purchase accounting amortization2 (15,278) (14,195) (14,195) (14,195) (14,195) Stock-based compensation (14,598) (8,527) (9,521) (10,687) (10,976) Restructuring and other related charges (7,080) (29,330) (6,170) (13,977) 773 Deferred compensation mark to market — — (714) (1,632) (917) Impairment charges (489,094) — — — — (Gain) loss, net from litigation settlements (419) 17,561 — — — Other adjustments — (188) 185 — 2,103 Non-GAAP Operating expenses $ 153,896 $ 143,763 $ 143,508 $ 157,277 $ 155,465 Non-GAAP Operating expenses % 37.6 % 39.8 % 34.6 % 32.2 % 32.5 % 1 Represents the impact of fair value purchase accounting adjustments related to deferred revenue recorded in connection with the acquisition of Polycom on July 2, 2018. The Company’s deferred revenue primarily relates to Service revenue associated with non-cancelable maintenance support on hardware devices which are typically billed in advance and recognized ratably over the contract term as those services are delivered. This adjustment represents the amount of additional revenue that would have been recognized during the period absent the write-down to fair value required under purchase accounting guidelines. 2 Represents the amortization of purchased intangible assets recorded in connection with the acquisition of Polycom on July 2, 2018.

PLANTRONICS, INC. UNAUDITED RECONCILIATIONS OF GAAP MEASURES TO NON-GAAP MEASURES ($ in thousands, except per share data) UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS DATA (CONTINUED) Three Months Ended March 28, June 27, September 26, December 26, April 3, 2020 2020 2020 2020 2021 GAAP Operating income (loss) $ (692,972) $ (57,232) $ 6,823 $ 28,889 $ 34,139 Purchase accounting amortization2 46,296 32,433 31,371 30,654 30,434 Deferred revenue purchase accounting1 6,138 5,082 4,237 3,289 1,796 Acquisition, integration, and rebranding fees 2,321 — — — — Stock-based compensation 15,596 9,360 10,263 11,486 11,541 Restructuring and other related charges 7,080 29,330 6,170 13,977 (773) Deferred compensation mark to market — — 714 1,632 917 Impairment charges 663,329 — — — — Loss, net from litigation settlements 419 17,561 — — — Other adjustments — 188 (185) — (2,103) Non-GAAP Operating income $ 48,207 $ 36,722 $ 59,393 $ 89,927 $ 75,951 Non-GAAP Operating income % 11.8 % 10.2 % 14.3 % 18.4 % 15.9 % GAAP Diluted earnings per common share $ (16.94) $ (1.85) $ (0.33) $ 0.48 $ 0.25 Purchase accounting amortization2 1.15 0.80 0.76 0.73 0.70 Deferred revenue purchase accounting1 0.15 0.13 0.10 0.08 0.04 Stock-based compensation 0.39 0.23 0.25 0.27 0.27 Acquisition, integration, and rebranding fees 0.06 — — — — Restructuring and other related charges 0.18 0.72 0.15 0.33 (0.02) Impairment charges 16.49 — — — — Loss, net from litigation settlements — 0.43 — — — Other adjustments — — — — (0.05) Income tax effect (1.18) (0.13) — (0.42) 0.04 Non-GAAP Diluted earnings per common share $ 0.30 $ 0.33 $ 0.93 $ 1.47 $ 1.23 Shares used in diluted earnings per common share calculation: GAAP 40,025 40,460 40,970 42,184 43,498 Non-GAAP 40,235 40,620 41,312 42,184 43,498 1 Represents the impact of fair value purchase accounting adjustments related to deferred revenue recorded in connection with the acquisition of Polycom on July 2, 2018. The Company’s deferred revenue primarily relates to Service revenue associated with non-cancelable maintenance support on hardware devices which are typically billed in advance and recognized ratably over the contract term as those services are delivered. This adjustment represents the amount of additional revenue that would have been recognized during the period absent the write-down to fair value required under purchase accounting guidelines. 2 Represents the amortization of purchased intangible assets recorded in connection with the acquisition of Polycom on July 2, 2018.

PLANTRONICS, INC. UNAUDITED RECONCILIATIONS OF GAAP MEASURES OPERATING INCOME TO ADJUSTED EBITDA ($ in thousands) UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS DATA (CONTINUED) Three Months Ended Twelve Months Ended March 28, June 27, September 26, December 26, April 3, April 3, 2020 2020 2020 2020 2021 20212 GAAP Net Income $ (677,918) $ (75,015) $ (13,405) $ 20,113 $ 10,977 $ (57,331) Income tax (benefit) expense (37,995) (3,177) 3,013 (7,045) (341) (7,549) Interest expense 22,378 21,184 18,581 18,417 24,424 82,606 Other income and expense 562 (224) (1,366) (2,596) (920) (5,108) Deferred revenue purchase accounting1 6,138 5,082 4,237 3,289 1,796 14,405 Acquisition, integration, and rebranding fees 2,321 — — — — — Stock-based compensation 15,596 9,360 10,263 11,486 11,540 42,644 Restructuring and other related charges 7,080 29,330 6,170 13,977 (773) 48,704 Deferred compensation mark to market — — 714 1,632 917 3,263 Impairment charges 663,329 — — — — — Loss, net from litigation settlements 419 17,561 — — — 17,561 Other adjustments — 197 (185) — (2,103) (2,091) Depreciation and amortization 57,632 43,400 40,971 40,510 39,986 164,867 Adjusted EBITDA $ 59,542 $ 47,698 $ 68,993 $ 99,783 $ 85,503 $ 301,971 1 Represents the impact of fair value purchase accounting adjustments related to deferred revenue recorded in connection with the acquisition of Polycom on July 2, 2018. The Company’s deferred revenue primarily relates to Service revenue associated with non-cancelable maintenance support on hardware devices which are typically billed in advance and recognized ratably over the contract term as those services are delivered. This adjustment represents the amount of additional revenue that would have been recognized during the period absent the write-down to fair value required under purchase accounting guidelines. 2 Certain amounts may not sum due to rounding.

EX-99.3

Poly Announces NYSE Ticker Symbol Change from “PLT” to “POLY”

SANTA CRUZ, Calif. – May 13, 2021 – Poly (NYSE: PLT), today announced that its ticker symbol on the New York Stock Exchange (NYSE) will change to "POLY" at the open of market trading on Monday, May 24, 2021. Poly, formerly Plantronics and Polycom, has traded under the ticker “PLT” since Plantronics’ initial public offering in 1994.

“As we celebrate the bold new direction of our company, updating our stock ticker is an important step in this process and our company’s long-term business strategy,” said Dave Shull, President and CEO of Poly. “At Poly, we continue to create the best mission critical gear and work hand-in-hand with our partners to outfit today’s workforce, to enable crystal-clear communications from wherever you work.”

Poly is announcing this change today, and ahead of a NYSE bell ringing at close of market on May 24, 2021, to celebrate the company’s 60th anniversary (Plantronics was founded on May 18th, 1961).

No action is required from Poly shareholders relative to the ticker symbol change. Poly’s common stock will continue to be listed on the NYSE and the CUSIP will remain unchanged.

About Poly

Poly (NYSE: PLT) creates premium audio and video products so you can have your best meeting -- anywhere, anytime, every time. Our headsets, video and audio-conferencing products, desk phones, analytics software and services are beautifully designed and engineered to connect people with incredible clarity. They're pro-grade, easy to use and work seamlessly with all the best video and audio conferencing services. With Poly (Plantronics, Inc. – formerly Plantronics and Polycom), you'll do more than just show up, you'll stand out. For more information visit www.Poly.com.

Poly, the propeller design, and the Poly logo are trademarks of Plantronics, Inc. All other trademarks are the property of their respective owners.

Poly Media Contact:	Investor Relations:
Shannon Shamoon	Mike Iburg
PR Manager	Vice President, IR
+1 (831) 201-9142	+1 (831) 458-7533
Shannon.Shamoon@poly.com	Mike.iburg@poly.com

XML

Cover	May 13, 2021
Cover [Abstract]
Document Type	8-K
Document Period End Date	May 13, 2021
Entity Registrant Name	PLANTRONICS INC
Entity Central Index Key	0000914025
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity File Number	1-12696
Entity Tax Identification Number	77-0207692
Entity Address, Address Line One	345 Encinal Street
Entity Address, City or Town	Santa Cruz
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95060
City Area Code	831
Local Phone Number	426-5858
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	COMMON STOCK, $0.01 PAR VALUE
Trading Symbol	PLT
Security Exchange Name	NYSE
Entity Emerging Growth Company	false