This page shows Corsair Gaming, Inc. (CRSR) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Corsair Gaming, Inc. has an operating margin of 0.1%, meaning the company retains $0 of operating profit per $100 of revenue. This below-average margin results in a low score of 23/100, suggesting thin profitability after operating expenses. This is up from -3.8% the prior year.
Corsair Gaming, Inc.'s revenue grew 11.9% year-over-year to $1.5B, a solid pace of expansion. This earns a growth score of 53/100.
Corsair Gaming, Inc. carries a low D/E ratio of 0.18, meaning only $0.18 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 98/100, indicating a strong balance sheet with room for future borrowing.
Corsair Gaming, Inc.'s current ratio of 1.54 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 26/100, which could limit financial flexibility.
Corsair Gaming, Inc. has a free cash flow margin of 2.4%, earning a moderate score of 31/100. The company generates positive cash flow after capital investments, but with room for improvement.
Corsair Gaming, Inc. generates a -2.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 5/100. This is up from -14.1% the prior year.
Corsair Gaming, Inc. scores 1.91, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Corsair Gaming, Inc. passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.
For every $1 of reported earnings, Corsair Gaming, Inc. generates $-3.10 in operating cash flow ($50.1M OCF vs -$16.2M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.
Corsair Gaming, Inc. earns $0.2 in operating income for every $1 of interest expense ($2.1M vs $9.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Corsair Gaming, Inc. generated $1.5B in revenue in fiscal year 2025. This represents an increase of 11.9% from the prior year.
Corsair Gaming, Inc.'s EBITDA was $56.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 2795.8% from the prior year.
Corsair Gaming, Inc. reported -$16.2M in net income in fiscal year 2025. This represents an increase of 81.0% from the prior year.
Corsair Gaming, Inc. earned $-0.12 per diluted share (EPS) in fiscal year 2025. This represents an increase of 87.4% from the prior year.
Cash & Balance Sheet
Corsair Gaming, Inc. generated $34.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 33.5% from the prior year.
Corsair Gaming, Inc. held $98.8M in cash against $115.2M in long-term debt as of fiscal year 2025.
Corsair Gaming, Inc. had 107M shares outstanding in fiscal year 2025. This represents an increase of 1.7% from the prior year.
Margins & Returns
Corsair Gaming, Inc.'s gross margin was 28.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 4.0 percentage points from the prior year.
Corsair Gaming, Inc.'s operating margin was 0.1% in fiscal year 2025, reflecting core business profitability. This is up 3.9 percentage points from the prior year.
Corsair Gaming, Inc.'s net profit margin was -1.1% in fiscal year 2025, showing the share of revenue converted to profit. This is up 5.4 percentage points from the prior year.
Corsair Gaming, Inc.'s ROE was -2.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 11.5 percentage points from the prior year.
Capital Allocation
Corsair Gaming, Inc. invested $69.1M in research and development in fiscal year 2025. This represents an increase of 2.4% from the prior year.
Corsair Gaming, Inc. invested $15.4M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 56.1% from the prior year.
CRSR Income Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $436.9M+26.3% | $345.8M+8.0% | $320.1M-13.4% | $369.8M-10.6% | $413.6M+36.0% | $304.2M+16.4% | $261.3M-22.5% | $337.3M |
| Cost of Revenue | $292.3M+15.7% | $252.7M+7.9% | $234.2M-12.4% | $267.4M-12.4% | $305.4M+30.2% | $234.5M+18.3% | $198.2M-20.9% | $250.6M |
| Gross Profit | $144.6M+55.3% | $93.1M+8.4% | $85.9M-16.1% | $102.4M-5.4% | $108.2M+55.3% | $69.7M+10.4% | $63.1M-27.2% | $86.6M |
| R&D Expenses | $17.3M+3.7% | $16.7M-4.7% | $17.5M-0.7% | $17.6M+4.0% | $17.0M+2.6% | $16.5M-5.0% | $17.4M+4.6% | $16.6M |
| SG&A Expenses | $100.4M+22.3% | $82.0M-3.8% | $85.3M-2.0% | $87.0M+1.9% | $85.3M+15.2% | $74.1M+5.2% | $70.4M-12.3% | $80.2M |
| Operating Income | $26.9M+577.9% | -$5.6M+66.7% | -$16.9M-647.8% | -$2.3M-138.2% | $5.9M+128.3% | -$20.9M+15.3% | -$24.7M-141.8% | -$10.2M |
| Interest Expense | $2.1M+4.5% | $2.1M-17.1% | $2.5M-7.5% | $2.7M-12.8% | $3.1M+1.9% | $3.0M-12.4% | $3.4M-6.9% | $3.7M |
| Income Tax | -$956K-146.0% | $2.1M+663.7% | -$369K-117.9% | $2.1M+315.5% | $496K-98.2% | $27.0M+775.3% | -$4.0M-125.2% | -$1.8M |
| Net Income | $25.8M+342.6% | -$10.6M+49.1% | -$20.9M-99.5% | -$10.5M-557.5% | $2.3M+104.4% | -$51.7M-113.7% | -$24.2M-109.2% | -$11.6M |
| EPS (Diluted) | N/A | $-0.09+43.8% | $-0.16-60.0% | $-0.10 | N/A | $-0.56-100.0% | $-0.28-133.3% | $-0.12 |
CRSR Balance Sheet
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.3B+4.6% | $1.2B-1.9% | $1.2B-1.4% | $1.2B+0.3% | $1.2B+2.8% | $1.2B-2.6% | $1.2B-1.8% | $1.3B |
| Current Assets | $665.5M+9.5% | $607.7M-1.5% | $617.2M-2.5% | $633.4M+1.6% | $623.4M+9.1% | $571.6M-1.4% | $579.6M-6.7% | $621.2M |
| Cash & Equivalents | $98.8M+49.6% | $66.1M-38.5% | $107.4M+4.8% | $102.5M-6.5% | $109.6M+78.0% | $61.6M-34.9% | $94.6M-27.3% | $130.2M |
| Inventory | $303.3M-3.5% | $314.5M+6.4% | $295.6M+6.8% | $276.8M+6.5% | $260.0M-11.3% | $293.0M+10.3% | $265.5M+5.5% | $251.7M |
| Accounts Receivable | $233.9M+21.9% | $191.9M+7.1% | $179.2M-18.2% | $219.2M+0.3% | $218.6M+22.8% | $178.1M-5.5% | $188.6M-8.0% | $204.9M |
| Goodwill | $357.8M0.0% | $357.8M-0.5% | $359.7M+1.3% | $355.0M+0.2% | $354.2M-0.9% | $357.5M+0.9% | $354.4M0.0% | $354.4M |
| Total Liabilities | $608.0M+3.4% | $587.9M-3.1% | $606.7M-1.5% | $616.2M0.0% | $616.4M+4.5% | $589.8M+5.4% | $559.8M-1.4% | $567.9M |
| Current Liabilities | $430.9M+5.1% | $410.0M-3.8% | $426.2M+2.2% | $417.2M+5.3% | $396.3M+9.7% | $361.1M+11.9% | $322.7M-5.7% | $342.1M |
| Long-Term Debt | $115.2M-1.3% | $116.8M-1.3% | $118.3M-13.3% | $136.4M-15.4% | $161.3M-2.2% | $165.0M-1.8% | $168.1M-1.8% | $171.1M |
| Total Equity | $633.6M+5.6% | $600.2M-0.6% | $603.9M-0.8% | $608.8M+0.7% | $604.3M+1.0% | $598.5M-6.9% | $642.7M-3.1% | $663.5M |
| Retained Earnings | -$71.2M+25.3% | -$95.4M-11.1% | -$85.8M-24.7% | -$68.8M-17.1% | -$58.8M+2.2% | -$60.1M-3416.7% | -$1.7M-106.1% | $27.9M |
CRSR Cash Flow Statement
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $38.2M+203.2% | -$37.0M-222.5% | $30.2M+61.0% | $18.8M-66.2% | $55.6M+121.3% | $25.1M+236.0% | -$18.5M+29.8% | -$26.3M |
| Capital Expenditures | $5.3M+21.0% | $4.3M+59.9% | $2.7M-11.7% | $3.1M+105.1% | $1.5M-54.9% | $3.3M+32.4% | $2.5M-0.4% | $2.5M |
| Free Cash Flow | $32.9M+179.6% | -$41.3M-250.4% | $27.5M+75.3% | $15.7M-71.0% | $54.1M+148.2% | $21.8M+203.9% | -$21.0M+27.3% | -$28.8M |
| Investing Cash Flow | -$5.3M-21.0% | -$4.3M-59.9% | -$2.7M+11.7% | -$3.1M-42.0% | -$2.2M+93.7% | -$34.1M-128.9% | -$14.9M-908.7% | -$1.5M |
| Financing Cash Flow | -$1.5M-304.4% | -$365K+98.5% | -$24.8M-11.3% | -$22.3M-447.6% | -$4.1M+83.4% | -$24.5M-1016.0% | -$2.2M+89.0% | -$19.9M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
CRSR Financial Ratios
| Metric | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 33.1%+6.2pp | 26.9%+0.1pp | 26.8%-0.9pp | 27.7%+1.5pp | 26.2%+3.3pp | 22.9%-1.2pp | 24.1%-1.6pp | 25.7% |
| Operating Margin | 6.2%+7.8pp | -1.6%+3.7pp | -5.3%-4.7pp | -0.6%-2.0pp | 1.4%+8.3pp | -6.9%+2.6pp | -9.5%-6.4pp | -3.0% |
| Net Margin | 5.9%+9.0pp | -3.1%+3.4pp | -6.5%-3.7pp | -2.8%-3.4pp | 0.5%+17.6pp | -17.0%-7.7pp | -9.3%-5.8pp | -3.4% |
| Return on Equity | 4.1%+5.8pp | -1.8%+1.7pp | -3.5%-1.7pp | -1.7%-2.1pp | 0.4%+9.0pp | -8.6%-4.9pp | -3.8%-2.0pp | -1.7% |
| Return on Assets | 2.1%+2.9pp | -0.9%+0.8pp | -1.7%-0.9pp | -0.8%-1.0pp | 0.2%+4.5pp | -4.3%-2.3pp | -2.0%-1.0pp | -0.9% |
| Current Ratio | 1.54+0.1 | 1.48+0.0 | 1.45-0.1 | 1.52-0.1 | 1.570.0 | 1.58-0.2 | 1.80-0.0 | 1.82 |
| Debt-to-Equity | 0.18-0.0 | 0.190.0 | 0.20-0.0 | 0.22-0.0 | 0.270.0 | 0.28+0.0 | 0.260.0 | 0.26 |
| FCF Margin | 7.5%+19.5pp | -11.9%-20.5pp | 8.6%+4.3pp | 4.2%-8.8pp | 13.1%+5.9pp | 7.2%+15.2pp | -8.0%+0.5pp | -8.6% |
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Frequently Asked Questions
What is Corsair Gaming, Inc.'s annual revenue?
Corsair Gaming, Inc. (CRSR) reported $1.5B in total revenue for fiscal year 2025. This represents a 11.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Corsair Gaming, Inc.'s revenue growing?
Corsair Gaming, Inc. (CRSR) revenue grew by 11.9% year-over-year, from $1.3B to $1.5B in fiscal year 2025.
Is Corsair Gaming, Inc. profitable?
No, Corsair Gaming, Inc. (CRSR) reported a net income of -$16.2M in fiscal year 2025, with a net profit margin of -1.1%.
What is Corsair Gaming, Inc.'s EBITDA?
Corsair Gaming, Inc. (CRSR) had EBITDA of $56.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Corsair Gaming, Inc. have?
As of fiscal year 2025, Corsair Gaming, Inc. (CRSR) had $98.8M in cash and equivalents against $115.2M in long-term debt.
What is Corsair Gaming, Inc.'s gross margin?
Corsair Gaming, Inc. (CRSR) had a gross margin of 28.9% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Corsair Gaming, Inc.'s operating margin?
Corsair Gaming, Inc. (CRSR) had an operating margin of 0.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Corsair Gaming, Inc.'s net profit margin?
Corsair Gaming, Inc. (CRSR) had a net profit margin of -1.1% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Corsair Gaming, Inc.'s return on equity (ROE)?
Corsair Gaming, Inc. (CRSR) has a return on equity of -2.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Corsair Gaming, Inc.'s free cash flow?
Corsair Gaming, Inc. (CRSR) generated $34.7M in free cash flow during fiscal year 2025. This represents a 33.5% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Corsair Gaming, Inc.'s operating cash flow?
Corsair Gaming, Inc. (CRSR) generated $50.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Corsair Gaming, Inc.'s total assets?
Corsair Gaming, Inc. (CRSR) had $1.3B in total assets as of fiscal year 2025, including both current and long-term assets.
What are Corsair Gaming, Inc.'s capital expenditures?
Corsair Gaming, Inc. (CRSR) invested $15.4M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Corsair Gaming, Inc. spend on research and development?
Corsair Gaming, Inc. (CRSR) invested $69.1M in research and development during fiscal year 2025.
What is Corsair Gaming, Inc.'s current ratio?
Corsair Gaming, Inc. (CRSR) had a current ratio of 1.54 as of fiscal year 2025, which is generally considered healthy.
What is Corsair Gaming, Inc.'s debt-to-equity ratio?
Corsair Gaming, Inc. (CRSR) had a debt-to-equity ratio of 0.18 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Corsair Gaming, Inc.'s return on assets (ROA)?
Corsair Gaming, Inc. (CRSR) had a return on assets of -1.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Corsair Gaming, Inc.'s Altman Z-Score?
Corsair Gaming, Inc. (CRSR) has an Altman Z-Score of 1.91, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Corsair Gaming, Inc.'s Piotroski F-Score?
Corsair Gaming, Inc. (CRSR) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Corsair Gaming, Inc.'s earnings high quality?
Corsair Gaming, Inc. (CRSR) has an earnings quality ratio of -3.10x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Corsair Gaming, Inc. cover its interest payments?
Corsair Gaming, Inc. (CRSR) has an interest coverage ratio of 0.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Corsair Gaming, Inc.?
Corsair Gaming, Inc. (CRSR) scores 39 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.