Corsair Reports Strong Second Quarter 2026 Profit Growth and Cash Generation
Key Terms
basis points financial
adjusted ebitda financial
non-gaap financial
Exceeds Profit Expectations with and without Tariff Refund
Second Quarter 2026 Select Financial Highlights (compared to second quarter 2025 unless otherwise stated)
-
Gross profit increased
21% year-over-year to$104.3 million 33.2% , a company record. -
GAAP operating income improved to
$7.6 million $16.9 million $9.1 million $20.3 million -
Adjusted EBITDA increased
279% year-over-year to$30.8 million $15.5 million 9.8% . -
GAAP diluted earnings per share was
$0.06 $0.16 $0.23 $0.01 $0.05 $0.07 -
Net revenue was
$314.3 million 2% year-over-year, above the assumed midpoint of the Company’s guided range of$295 million $320 million -
Direct-to-consumer business was
20% of total net revenue. -
Net cash provided by operating activities increased
148% year-over-year to$74.8 million $74.1 million $193.9 million
During the second quarter of 2026, the Company recognized a benefit of approximately
Definitions of the non-GAAP financial measures used in this press release and reconciliations of such measures to their nearest GAAP equivalents are included below under the heading “Use and Reconciliation of Non-GAAP Financial Measures.”
Business Segment Highlights:
Gamer and Creator Peripherals Segment
Revenue grew
Gross profit increased
Elgato and Stream Deck continued to expand beyond content creation into broader workflow automation and professional broadcast applications. In the first half of 2026, the Elgato Marketplace delivered strong first half year-over-year growth, with gross revenue and transaction volume each up over
Sim Racing remained a key growth driver, with continued momentum at Fanatec supported by new products, expanded distribution and direct-to-consumer engagement. Fanatec’s momentum was one of the key contributors to the segment’s double-digit revenue growth, while it also carries gross margins above the segment average. Fanatec’s direct-to-consumer orientation also provides stronger unit economics, richer customer data and deeper customer relationships, while complementing Corsair’s channel partnerships.
Recent Developments:
On August 3, 2026, Corsair completed the acquisition of Trak Racer, a complementary Sim Racing hardware brand sold primarily through direct-to-consumer channels, extending Fanatec’s product range and distribution reach within the Company's Sim Racing platform. As part of the transaction, Trak Racer founder Matt Sten has joined as Chief Technology Officer of the Company's Sim Solutions group, and Pete Hosking will continue to lead Trak Racer with ongoing P&L responsibility.
Gaming Components and Systems Segment
Revenue declined
Elsewhere within the segment, memory revenue grew
Within Systems, demand remained strong, with continued AI compute momentum driving solid year-over-year revenue growth. Corsair is building its AI workstation offering as a natural extension of its existing capabilities in high-performance systems, customization, memory, thermal management and power delivery, initially targeting the approximately
Despite the market headwinds in components, gross profit increased
Management Commentary:
Thi La, Chief Executive Officer of Corsair, stated, “We delivered another quarter of significant profitability improvement, with gross margin reaching a record for the Company at
“Looking ahead, our investments remain focused on margin potential, ecosystem value and our ability to win. We see meaningful opportunities to further expand Stream Deck into workflow automation and professional broadcasting, accelerate Marketplace development through AI, deepen our direct-to-consumer relationships and build on Fanatec’s momentum in Sim Racing. Adding to this, our acquisition of Trak Racer has the potential to deliver strong synergies from product range to channel reach. While elevated memory pricing continues to delay DIY PC builds, we believe that demand has been deferred, not lost, and that Corsair is well positioned to benefit as market conditions normalize.”
Gordon Mattingly, Chief Financial Officer of Corsair, stated, “The quarter showed strong conversion of gross-profit improvement into earnings and cash generation. We moved from a
Third Quarter and Updated Full Year 2026 Financial Outlook:
For the third quarter of 2026, we expect:
-
Net revenue to be in the range of
$320 million $350 million -
Adjusted EBITDA to be in the range of
$18 million $21 million -
Non-GAAP EPS to be in the range of
$0.09 $0.12
For the full year 2026, we expect:
-
Net revenue to be in the range of
$1.40 billion $1.47 billion -
Adjusted EBITDA to be in the range of
$121 $131 million -
Non-GAAP EPS to be in the range of
$0.85 $0.94
The third quarter and full year 2026 outlook assumes continued double-digit growth in Gamer and Creator Peripherals, led by Fanatec, Elgato and Stream Deck, with the higher-margin mix and continued direct-to-consumer progress supporting consolidated gross margin. Gaming Components and Systems is expected to remain pressured by elevated memory pricing delaying DIY demand, although supply availability is expected to remain adequate.
Our full year 2026 outlook for net revenue represents an increase of approximately
Conference Call and Webcast Information
Corsair will host a conference call to discuss the second quarter of 2026 financial results today at 2:00 p.m. Pacific Time. The conference call will be accessible on Corsair’s Investor Relations website at https://ir.corsair.com, or by dialing 1-877-407-0784 (
About Corsair Gaming
Corsair (Nasdaq: CRSR) is a leading global developer and manufacturer of high-performance products and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals to premium streaming equipment and smart ambient lighting, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best. Corsair also sells products under its Fanatec brand, the leading end-to-end premium Sim Racing product line; Trak Racer brand, which provides premium racing and flight-simulation cockpits, frames, seats, monitor stands, motion systems and accessories; Elgato brand, which provides premium studio equipment and accessories for content creators; SCUF Gaming brand, which builds custom-designed controllers for competitive gamers; and ORIGIN PC brand, a builder of custom gaming and workstation desktop PCs.
Forward-Looking Statements
This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company’s financial outlook for the third quarter 2026 and the full year 2026; potential future growth in certain product categories; future headwinds and tailwinds that may impact the Company’s sales and results of operations including semiconductor supply constraints and demand for AI-focused workstations; the potential growth and the long-term trajectory of our segments; expected synergies from the acquisition of Trak Racer; the potential market opportunity for desktop AI PCs; the anticipated timeline for a more meaningful contribution from the Company's AI workstation initiative; statements regarding the status of the tariff refund process and the possibility of future administrative adjustments; and the Company's view that elevated DIY PC demand has been deferred rather than lost and its positioning to benefit as market conditions normalize. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: the Company’s limited operating history, which makes it difficult to forecast the Company’s future results of operations; current macroeconomic conditions, including the impacts of high inflation and risk of recession, on demand for our products, consumer confidence and financial markets generally; changes in trade regulations, policies, and agreements and the imposition of tariffs that affect our products or operations, including potential new tariffs that may be imposed on
Use and Reconciliation of Non-GAAP Financial Measures
To supplement the financial results presented in accordance with GAAP, this earnings release presents certain non-GAAP financial information, including adjusted operating income (loss), adjusted net income (loss), adjusted net income (loss) per diluted share and adjusted EBITDA. These are important financial performance measures for us but are not financial measures as defined by GAAP. The presentation of this non-GAAP financial information is not intended to be considered in isolation of or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.
We use adjusted operating income (loss), adjusted net income (loss), adjusted net income (loss) per share and adjusted EBITDA to evaluate our operating performance and trends and make planning decisions. We believe that these non-GAAP financial measures help identify underlying trends in our business that could otherwise be masked by the effect of the expenses and other items that we exclude in such non-GAAP measures. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects, and allowing for greater transparency with respect to the key financial metrics used by our management in our financial and operational decision-making. We also present these non-GAAP financial measures because we believe investors, analysts and rating agencies consider it useful in measuring our ability to meet our debt service obligations.
Our use of these terms may vary from that of others in our industry. These non-GAAP financial measures should not be considered as an alternative to net revenue, operating income (loss), net income (loss), cash provided by operating activities, or any other measures derived in accordance with GAAP as measures of operating performance or liquidity. Reconciliations of these measures to the most directly comparable GAAP financial measures are presented in the attached schedules.
We calculate these non-GAAP financial measures as follows:
- Adjusted operating income (loss), non-GAAP, is determined by adding back to GAAP operating income (loss), the impact from amortization, stock-based compensation, one-time costs related to legal and other matters, acquisition and related integration costs, restructuring and other charges, legal and due diligence costs related to strategic investments, and acquisition accounting impact related to recognizing acquired inventory at fair value.
- Adjusted net income (loss), non-GAAP, excludes the impact from amortization, stock-based compensation, one-time costs related to legal and other matters, acquisition and related integration costs, restructuring and other charges, acquisition accounting impact related to recognizing acquired inventory at fair value, legal and due diligence costs related to strategic investments, and the bargain purchase gain on business acquisition, as well as the related tax effects of each of these adjustments.
- Adjusted net income (loss) per diluted share, non-GAAP, is determined by dividing adjusted net income (loss), non-GAAP by the respective weighted average shares outstanding, inclusive of the impact of other dilutive securities.
- Adjusted EBITDA excludes the impact from amortization, stock-based compensation, one-time costs related to legal and other matters, acquisition and related integration costs, restructuring and other charges, acquisition accounting impact related to recognizing acquired inventory at fair value, legal and due diligence costs related to strategic investments, and the bargain purchase gain on business acquisition, depreciation, interest expense, net, and tax expense (benefit).
We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure and to view these non-GAAP financial measures in conjunction with the related GAAP financial measures.
Corsair Gaming, Inc. Condensed Consolidated Statements of Operations (Unaudited, in thousands, except per share amounts) |
||||||||||||||||
|
|
|
|
|
||||||||||||
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|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
|
|
|
|
|
|
|
|
|
||||||||
Net revenue |
|
$ |
314,335 |
|
|
$ |
320,112 |
|
|
$ |
668,847 |
|
|
$ |
689,862 |
|
Cost of revenue |
|
|
210,047 |
|
|
|
234,241 |
|
|
|
448,530 |
|
|
|
501,629 |
|
Gross profit |
|
|
104,288 |
|
|
|
85,871 |
|
|
|
220,317 |
|
|
|
188,233 |
|
Operating expenses: |
|
|
|
|
|
|
|
|
||||||||
Sales, general and administrative |
|
|
81,233 |
|
|
|
85,280 |
|
|
|
166,221 |
|
|
|
172,272 |
|
Product development |
|
|
15,447 |
|
|
|
17,514 |
|
|
|
32,692 |
|
|
|
35,147 |
|
Total operating expenses |
|
|
96,680 |
|
|
|
102,794 |
|
|
|
198,913 |
|
|
|
207,419 |
|
Operating income (loss) |
|
|
7,608 |
|
|
|
(16,923 |
) |
|
|
21,404 |
|
|
|
(19,186 |
) |
Other (expense) income: |
|
|
|
|
|
|
|
|
||||||||
Interest expense |
|
|
(1,674 |
) |
|
|
(2,476 |
) |
|
|
(3,365 |
) |
|
|
(5,152 |
) |
Interest income |
|
|
1,404 |
|
|
|
580 |
|
|
|
1,825 |
|
|
|
1,210 |
|
Other (expense) income, net |
|
|
1,781 |
|
|
|
(1,856 |
) |
|
|
2,155 |
|
|
|
(5,803 |
) |
Total other expense, net |
|
|
1,511 |
|
|
|
(3,752 |
) |
|
|
615 |
|
|
|
(9,745 |
) |
Income (loss) before income taxes |
|
|
9,119 |
|
|
|
(20,675 |
) |
|
|
22,019 |
|
|
|
(28,931 |
) |
Income tax benefit (expense) |
|
|
30 |
|
|
|
369 |
|
|
|
187 |
|
|
|
(1,692 |
) |
Net income (loss) |
|
|
9,149 |
|
|
|
(20,306 |
) |
|
|
22,206 |
|
|
|
(30,623 |
) |
Less: Net income attributable to noncontrolling interest |
|
|
306 |
|
|
|
556 |
|
|
|
579 |
|
|
|
698 |
|
Net income (loss) attributable to Corsair Gaming, Inc. |
|
$ |
8,843 |
|
|
$ |
(20,862 |
) |
|
$ |
21,627 |
|
|
$ |
(31,321 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Calculation of net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.: |
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|
|
|
|
|
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Net income (loss) attributable to Corsair Gaming, Inc. |
|
$ |
8,843 |
|
|
$ |
(20,862 |
) |
|
$ |
21,627 |
|
|
$ |
(31,321 |
) |
Change in redemption value of redeemable noncontrolling interest |
|
|
(2,015 |
) |
|
|
3,861 |
|
|
|
(2,935 |
) |
|
|
4,253 |
|
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc. |
|
$ |
6,828 |
|
|
$ |
(17,001 |
) |
|
$ |
18,692 |
|
|
$ |
(27,068 |
) |
|
|
|
|
|
|
|
|
|
||||||||
Net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
$ |
0.06 |
|
|
$ |
(0.16 |
) |
|
$ |
0.17 |
|
|
$ |
(0.26 |
) |
Diluted |
|
$ |
0.06 |
|
|
$ |
(0.16 |
) |
|
$ |
0.17 |
|
|
$ |
(0.26 |
) |
Weighted-average common shares outstanding: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
|
107,351 |
|
|
|
105,864 |
|
|
|
107,110 |
|
|
|
105,554 |
|
Diluted |
|
|
109,193 |
|
|
|
105,864 |
|
|
|
108,485 |
|
|
|
105,554 |
|
Corsair Gaming, Inc. Segment Information (Unaudited, in thousands, except percentages) |
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|
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Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
|
|
|
|
|
|
|
|
|
||||||||
Net revenue: |
|
|
|
|
|
|
|
|
||||||||
Gamer and Creator Peripherals |
|
$ |
115,884 |
|
|
$ |
102,642 |
|
|
$ |
239,194 |
|
|
$ |
214,615 |
|
Gaming Components and Systems |
|
|
198,451 |
|
|
|
217,470 |
|
|
|
429,653 |
|
|
|
475,247 |
|
Total Net revenue |
|
$ |
314,335 |
|
|
$ |
320,112 |
|
|
$ |
668,847 |
|
|
$ |
689,862 |
|
|
|
|
|
|
|
|
|
|
||||||||
Gross Profit: |
|
|
|
|
|
|
|
|
||||||||
Gamer and Creator Peripherals |
|
$ |
52,044 |
|
|
$ |
41,089 |
|
|
$ |
102,334 |
|
|
$ |
87,503 |
|
Gaming Components and Systems |
|
|
52,244 |
|
|
|
44,782 |
|
|
|
117,983 |
|
|
|
100,730 |
|
Total Gross Profit |
|
$ |
104,288 |
|
|
$ |
85,871 |
|
|
$ |
220,317 |
|
|
$ |
188,233 |
|
|
|
|
|
|
|
|
|
|
||||||||
Gross Margin: |
|
|
|
|
|
|
|
|
||||||||
Gamer and Creator Peripherals |
|
|
44.9 |
% |
|
|
40.0 |
% |
|
|
42.8 |
% |
|
|
40.8 |
% |
Gaming Components and Systems |
|
|
26.3 |
% |
|
|
20.6 |
% |
|
|
27.5 |
% |
|
|
21.2 |
% |
Total Gross Margin |
|
|
33.2 |
% |
|
|
26.8 |
% |
|
|
32.9 |
% |
|
|
27.3 |
% |
Corsair Gaming, Inc. Condensed Consolidated Balance Sheets (Unaudited, in thousands) |
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|
|
June 30, 2026 |
|
December 31, 2025 |
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|
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|
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|
||||
Assets |
|
|
|
|
||||
Current assets: |
|
|
|
|
||||
Cash and restricted cash |
|
$ |
193,604 |
|
|
$ |
98,583 |
|
Accounts receivable, net |
|
|
159,820 |
|
|
|
233,900 |
|
Inventories |
|
|
264,533 |
|
|
|
303,336 |
|
Prepaid expenses and other current assets |
|
|
28,891 |
|
|
|
29,639 |
|
Total current assets |
|
|
646,848 |
|
|
|
665,458 |
|
Restricted cash, noncurrent |
|
|
252 |
|
|
|
250 |
|
Property and equipment, net |
|
|
30,367 |
|
|
|
31,514 |
|
Goodwill |
|
|
357,417 |
|
|
|
357,765 |
|
Intangible assets, net |
|
|
106,489 |
|
|
|
125,210 |
|
Other assets |
|
|
74,892 |
|
|
|
73,587 |
|
Total assets |
|
$ |
1,216,265 |
|
|
$ |
1,253,784 |
|
Liabilities |
|
|
|
|
||||
Current liabilities: |
|
|
|
|
||||
Debt maturing within one year, net |
|
$ |
6,123 |
|
|
$ |
6,120 |
|
Accounts payable |
|
|
178,796 |
|
|
|
212,547 |
|
Other liabilities and accrued expenses |
|
|
184,230 |
|
|
|
212,275 |
|
Total current liabilities |
|
|
369,149 |
|
|
|
430,942 |
|
Long-term debt, net |
|
|
112,160 |
|
|
|
115,222 |
|
Deferred tax liabilities |
|
|
3,607 |
|
|
|
6,071 |
|
Other liabilities, noncurrent |
|
|
50,997 |
|
|
|
55,795 |
|
Total liabilities |
|
|
535,913 |
|
|
|
608,030 |
|
Temporary equity |
|
|
|
|
||||
Redeemable noncontrolling interest |
|
|
15,498 |
|
|
|
12,197 |
|
Stockholders' equity |
|
|
|
|
||||
Common stock and additional paid-in capital |
|
|
718,782 |
|
|
|
705,372 |
|
Accumulated deficit |
|
|
(52,538 |
) |
|
|
(71,230 |
) |
Accumulated other comprehensive loss |
|
|
(1,390 |
) |
|
|
(585 |
) |
Total stockholders' equity |
|
|
664,854 |
|
|
|
633,557 |
|
Total liabilities, temporary equity and stockholders' equity |
|
$ |
1,216,265 |
|
|
$ |
1,253,784 |
|
Corsair Gaming, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited, in thousands) |
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|
|
|
||||||||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
|
|
|
|
|
|
|
|
|
||||||||
Cash flows from operating activities: |
|
|
|
|
|
|
|
|
||||||||
Net income (loss) |
|
$ |
9,149 |
|
|
$ |
(20,306 |
) |
|
$ |
22,206 |
|
|
$ |
(30,623 |
) |
Adjustments to reconcile net loss to net cash provided by operating activities: |
|
|
|
|
|
|
|
|
||||||||
Stock-based compensation |
|
|
5,935 |
|
|
|
9,335 |
|
|
|
12,629 |
|
|
|
18,657 |
|
Depreciation |
|
|
3,649 |
|
|
|
3,351 |
|
|
|
7,200 |
|
|
|
6,724 |
|
Amortization |
|
|
8,815 |
|
|
|
9,853 |
|
|
|
18,621 |
|
|
|
19,635 |
|
Provision for doubtful accounts |
|
|
— |
|
|
|
2,828 |
|
|
|
— |
|
|
|
2,828 |
|
Reversal of bargain purchase gain on business acquisition |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,581 |
|
Deferred income taxes, net of valuation allowance |
|
|
(3,625 |
) |
|
|
(2,287 |
) |
|
|
(6,394 |
) |
|
|
(3,303 |
) |
Other |
|
|
803 |
|
|
|
(745 |
) |
|
|
1,540 |
|
|
|
2,286 |
|
Changes in operating assets and liabilities: |
|
|
|
|
|
|
|
|
||||||||
Accounts receivable |
|
|
18,917 |
|
|
|
37,822 |
|
|
|
73,131 |
|
|
|
38,023 |
|
Inventories |
|
|
8,725 |
|
|
|
(21,501 |
) |
|
|
38,905 |
|
|
|
(43,738 |
) |
Prepaid expenses and other assets |
|
|
(1,135 |
) |
|
|
1,771 |
|
|
|
(111 |
) |
|
|
4,018 |
|
Accounts payable |
|
|
20,885 |
|
|
|
15,306 |
|
|
|
(33,698 |
) |
|
|
49,559 |
|
Other liabilities and accrued expenses |
|
|
2,720 |
|
|
|
(5,234 |
) |
|
|
(29,463 |
) |
|
|
(17,704 |
) |
Net cash provided by operating activities |
|
|
74,838 |
|
|
|
30,193 |
|
|
|
104,566 |
|
|
|
48,943 |
|
Cash flows from investing activities: |
|
|
|
|
|
|
|
|
||||||||
Purchase of property and equipment |
|
|
(2,771 |
) |
|
|
(2,713 |
) |
|
|
(6,440 |
) |
|
|
(5,785 |
) |
Net cash used in investing activities |
|
|
(2,771 |
) |
|
|
(2,713 |
) |
|
|
(6,440 |
) |
|
|
(5,785 |
) |
Cash flows from financing activities: |
|
|
|
|
|
|
|
|
||||||||
Repayment of debt |
|
|
(1,562 |
) |
|
|
(24,000 |
) |
|
|
(3,125 |
) |
|
|
(49,000 |
) |
Repurchases of common stock |
|
|
— |
|
|
|
— |
|
|
|
(5,011 |
) |
|
|
— |
|
Proceeds from issuance of shares through employee equity incentive plans |
|
|
4,456 |
|
|
|
1 |
|
|
|
6,511 |
|
|
|
3,441 |
|
Payment of taxes related to net share settlement of equity awards |
|
|
(162 |
) |
|
|
(590 |
) |
|
|
(792 |
) |
|
|
(980 |
) |
Dividend paid to noncontrolling interest |
|
|
— |
|
|
|
(190 |
) |
|
|
(175 |
) |
|
|
(494 |
) |
Net cash used in financing activities |
|
|
2,732 |
|
|
|
(24,779 |
) |
|
|
(2,592 |
) |
|
|
(47,033 |
) |
Effect of exchange rate changes on cash |
|
|
(691 |
) |
|
|
2,219 |
|
|
|
(511 |
) |
|
|
1,693 |
|
Net increase (decrease) in cash and restricted cash |
|
|
74,108 |
|
|
|
4,920 |
|
|
|
95,023 |
|
|
|
(2,182 |
) |
Cash and restricted cash at the beginning of the period |
|
|
119,748 |
|
|
|
102,529 |
|
|
|
98,833 |
|
|
|
109,631 |
|
Cash and restricted cash at the end of the period |
|
$ |
193,856 |
|
|
$ |
107,449 |
|
|
$ |
193,856 |
|
|
$ |
107,449 |
|
Corsair Gaming, Inc. GAAP to Non-GAAP Reconciliations
Non-GAAP Operating Income (Loss) Reconciliations (Unaudited, in thousands, except percentages) |
||||||||||||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
|
|
|
|
|
|
|
|
|
||||||||
Operating income (loss) - GAAP |
|
$ |
7,608 |
|
|
$ |
(16,923 |
) |
|
$ |
21,404 |
|
|
$ |
(19,186 |
) |
Amortization |
|
|
8,815 |
|
|
|
9,853 |
|
|
|
18,621 |
|
|
|
19,635 |
|
Stock-based compensation |
|
|
5,935 |
|
|
|
9,335 |
|
|
|
12,629 |
|
|
|
18,657 |
|
One-time costs related to legal and other matters |
|
|
2,075 |
|
|
|
1,993 |
|
|
|
2,075 |
|
|
|
1,993 |
|
Restructuring and other charges |
|
|
219 |
|
|
|
772 |
|
|
|
1,799 |
|
|
|
1,867 |
|
Acquisition and related integration costs |
|
|
600 |
|
|
|
1,515 |
|
|
|
600 |
|
|
|
3,700 |
|
Legal and due diligence costs related to strategic investments |
|
|
150 |
|
|
|
— |
|
|
|
150 |
|
|
|
— |
|
Acquisition accounting impact related to recognizing acquired inventory at fair value |
|
|
— |
|
|
|
98 |
|
|
|
— |
|
|
|
613 |
|
Adjusted Operating Income - Non-GAAP |
|
$ |
25,402 |
|
|
$ |
6,643 |
|
|
$ |
57,278 |
|
|
$ |
27,279 |
|
|
|
|
|
|
|
|
|
|
||||||||
As a % of net revenue - GAAP |
|
|
2.4 |
% |
|
|
-5.3 |
% |
|
|
3.2 |
% |
|
|
-2.8 |
% |
As a % of net revenue - Non-GAAP |
|
|
8.1 |
% |
|
|
2.1 |
% |
|
|
8.6 |
% |
|
|
4.0 |
% |
Corsair Gaming, Inc. GAAP to Non-GAAP Reconciliations
Non-GAAP Net Income (Loss) and Net Income (Loss) Per Share Reconciliations (Unaudited, in thousands, except per share amounts) |
||||||||||||||||
|
|
|
|
|
||||||||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc. (1) |
|
$ |
6,828 |
|
|
$ |
(17,001 |
) |
|
$ |
18,692 |
|
|
$ |
(27,068 |
) |
Less: Change in redemption value of redeemable noncontrolling interest |
|
|
(2,015 |
) |
|
|
3,861 |
|
|
|
(2,935 |
) |
|
|
4,253 |
|
Net income (loss) attributable to Corsair Gaming, Inc. |
|
|
8,843 |
|
|
|
(20,862 |
) |
|
|
21,627 |
|
|
|
(31,321 |
) |
Add: Net income attributable to noncontrolling interest |
|
|
306 |
|
|
|
556 |
|
|
|
579 |
|
|
|
698 |
|
Net income (loss) - GAAP |
|
|
9,149 |
|
|
|
(20,306 |
) |
|
|
22,206 |
|
|
|
(30,623 |
) |
Adjustments: |
|
|
|
|
|
|
|
|
||||||||
Amortization |
|
|
8,815 |
|
|
|
9,853 |
|
|
|
18,621 |
|
|
|
19,635 |
|
Stock-based compensation |
|
|
5,935 |
|
|
|
9,335 |
|
|
|
12,629 |
|
|
|
18,657 |
|
Restructuring and other charges |
|
|
219 |
|
|
|
772 |
|
|
|
1,799 |
|
|
|
1,867 |
|
One-time costs related to legal and other matters |
|
|
2,075 |
|
|
|
1,993 |
|
|
|
2,075 |
|
|
|
1,993 |
|
Acquisition and related integration costs |
|
|
600 |
|
|
|
1,515 |
|
|
|
600 |
|
|
|
3,700 |
|
Legal and due diligence costs related to strategic investments |
|
|
150 |
|
|
|
— |
|
|
|
150 |
|
|
|
— |
|
Reversal of bargain purchase gain on business acquisition |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,581 |
|
Acquisition accounting impact related to recognizing acquired inventory at fair value |
|
|
— |
|
|
|
98 |
|
|
|
— |
|
|
|
613 |
|
Non-GAAP income tax adjustment |
|
|
(1,978 |
) |
|
|
(1,966 |
) |
|
|
(3,961 |
) |
|
|
(4,810 |
) |
Adjusted net income - Non-GAAP |
|
$ |
24,965 |
|
|
$ |
1,294 |
|
|
$ |
54,119 |
|
|
$ |
13,613 |
|
|
|
|
|
|
|
|
|
|
||||||||
Diluted net income (loss) per share: |
|
|
|
|
|
|
|
|
||||||||
GAAP |
|
$ |
0.06 |
|
|
$ |
(0.16 |
) |
|
$ |
0.17 |
|
|
$ |
(0.26 |
) |
Adjusted, Non-GAAP |
|
$ |
0.23 |
|
|
$ |
0.01 |
|
|
$ |
0.50 |
|
|
$ |
0.13 |
|
|
|
|
|
|
|
|
|
|
||||||||
Weighted-average common shares outstanding - Diluted: |
|
|
|
|
|
|
|
|
||||||||
GAAP |
|
|
109,193 |
|
|
|
105,864 |
|
|
|
108,485 |
|
|
|
105,554 |
|
Adjusted, Non-GAAP |
|
|
109,193 |
|
|
|
107,304 |
|
|
|
108,485 |
|
|
|
107,337 |
|
|
|
|
|
|
|
|
|
|
||||||||
(1) Numerator for calculating net income (loss) per share-GAAP |
||||||||||||||||
Corsair Gaming, Inc. GAAP to Non-GAAP Reconciliations
Adjusted EBITDA Reconciliations (Unaudited, in thousands, except percentages) |
||||||||||||||||
|
|
|
|
|
||||||||||||
|
|
Three Months Ended June 30, |
|
Six Months Ended June 30, |
||||||||||||
|
|
|
2026 |
|
|
|
2025 |
|
|
|
2026 |
|
|
|
2025 |
|
Net income (loss) - GAAP |
|
$ |
9,149 |
|
|
$ |
(20,306 |
) |
|
$ |
22,206 |
|
|
$ |
(30,623 |
) |
Amortization |
|
|
8,815 |
|
|
|
9,853 |
|
|
|
18,621 |
|
|
|
19,635 |
|
Stock-based compensation |
|
|
5,935 |
|
|
|
9,335 |
|
|
|
12,629 |
|
|
|
18,657 |
|
One-time costs related to legal and other matters |
|
|
2,075 |
|
|
|
1,993 |
|
|
|
2,075 |
|
|
|
1,993 |
|
Restructuring and other charges |
|
|
219 |
|
|
|
772 |
|
|
|
1,799 |
|
|
|
1,867 |
|
Acquisition and related integration costs |
|
|
600 |
|
|
|
1,515 |
|
|
|
600 |
|
|
|
3,700 |
|
Legal and due diligence costs related to strategic investments |
|
|
150 |
|
|
|
— |
|
|
|
150 |
|
|
|
— |
|
Acquisition accounting impact related to recognizing acquired inventory at fair value |
|
|
— |
|
|
|
98 |
|
|
|
— |
|
|
|
613 |
|
Depreciation |
|
|
3,649 |
|
|
|
3,351 |
|
|
|
7,200 |
|
|
|
6,724 |
|
Interest expense, net of interest income |
|
|
270 |
|
|
|
1,896 |
|
|
|
1,540 |
|
|
|
3,942 |
|
Reversal of bargain purchase gain on business acquisition |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
2,581 |
|
Income tax (benefit) expense |
|
|
(30 |
) |
|
|
(369 |
) |
|
|
(187 |
) |
|
|
1,692 |
|
Adjusted EBITDA - Non-GAAP |
|
$ |
30,832 |
|
|
$ |
8,138 |
|
|
$ |
66,633 |
|
|
$ |
30,781 |
|
|
|
|
|
|
|
|
|
|
||||||||
Adjusted EBITDA margin - Non-GAAP |
|
|
9.8 |
% |
|
|
2.5 |
% |
|
|
10.0 |
% |
|
|
4.5 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260806457257/en/
Investor Relations Contact:
David Pasquale
ir@corsair.com
914-337-8801
Media Contact:
media@corsair.com
510-657-8747
Source: Corsair Gaming, Inc.