Corsair Gaming Inc

CRSR

Equity

ISIN US22041X1028 / Valor 56786217

NASDAQ (2024-09-17)

USD 6.57+0.77%

Corsair Gaming Inc
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About company

Corsair Gaming Inc, listed on NASDAQ under the ticker CRSR, is a prominent player in the global market, specializing in the development and production of high-performance gear and technology tailored for gamers, content creators, and PC enthusiasts. The company offers a wide range of award-winning PC components, peripherals, premium streaming equipment, smart ambient lighting, and esports coaching services, creating a comprehensive ecosystem of products designed to enhance the performance of users across all levels of expertise, from casual gamers to dedicated professionals.

Summarized from source with an LLMView SourceSector: Technology

Net Revenue Decline

Corsair Gaming Inc. reported net revenue of $261.3 million for the second quarter of 2024, a decrease of 19.7% compared to $325.4 million in the same quarter of 2023. This decline was attributed to a softer-than-expected self-built PC market.

Segment Performance

The Gaming Components and Systems segment saw net revenue of $167.1 million in Q2 2024, down from $246.7 million in Q2 2023. Conversely, the Gamer and Creator Peripherals segment experienced growth, with net revenue increasing to $94.2 million from $78.8 million in the same period last year.

Net Loss

Corsair Gaming Inc. reported a net loss attributable to common shareholders of $29.6 million, or $0.28 per diluted share, for the second quarter of 2024. This is a significant shift from the net income of $1.1 million, or $0.01 per diluted share, reported in Q2 2023.

Adjusted Financial Metrics

For Q2 2024, Corsair Gaming Inc. reported an adjusted net loss of $6.8 million, or $0.07 per diluted share, compared to an adjusted net income of $9.8 million, or $0.09 per diluted share, in Q2 2023. Adjusted EBITDA was a loss of $1.2 million, down from $17.8 million in the same quarter last year.

Updated Financial Outlook

Corsair Gaming Inc. updated its financial outlook for the full year 2024, expecting net revenue to be in the range of $1.25 billion to $1.35 billion. The company also anticipates adjusted operating income to be between $48 million and $63 million, and adjusted EBITDA to range from $60 million to $75 million.

Summarized from source with an LLMView Source

Key figures

-56.8%1Y

-77.3%3Y

%5Y

Performance

44.0%1Y

48.2%3Y

53.8%5Y

Volatility