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Corsair Gaming Announces Preliminary Third Quarter 2021 Financial Results and Updated 2021 Financial Outlook
Announces Third Quarter 2021 Earnings Release and Conference Call Date; Presenting at Upcoming Investor Conferences FREMONT, Calif., Oct. 14, 2021 (GLOBE
About this update from Corsair Gaming, Inc.
[{"type":"text","content":"Announces Third Quarter 2021 Earnings Release and Conference Call Date; Presenting at Upcoming Investor Conferences\nFREMONT, Calif., Oct. 14, 2021 (GLOBE NEWSWIRE) -- Corsair Gaming, Inc. (NASDAQ:CRSR) (“Corsair” or the “Company”), a leading global provider and innovator of high-performance gear for gamers and content creators, today announced preliminary unaudited results for the quarter ended September 30, 2021 and updated 2021 financial outlook. The Company also announced the date for the release of its third quarter earnings and its presentation at upcoming investor conferences. Preliminary, Unaudited Third Quarter 2021 Results Andy Paul, Chief Executive Officer of Corsair, commented, “We continue to see 2021 as a strong growth year over the exceptional results from 2020 and building on the acceleration of gamers and streamers buying gear for the first time or upgrading faster than in the past. We are several years ahead of our growth expectations before our IPO in 2020, and we believe that this is setting a new base for us to grow on. Despite this backdrop of growth, we believe that our 2021 net revenue has been held back at least 10% by global logistics and supply chain issues, especially by the lack of affordable GPUs in the retail channel. After a slower start to the third quarter of 2021, we have seen a return to more typical seasonal ordering with September being the strongest month in the quarter.” “As a result, for the third quarter ended September 30, 2021, we expect net revenue to be approximately $391 million. Based on what we know today, we are also updating our 2021 annual net revenue guidance to $1.825 billion to $1.925 billion. We intend to update our 2021 guidance for Adjusted Operating Income and Adjusted EBITDA when we release our third quarter earnings release on November 2, 2021,” concluded Andy Paul. The foregoing forward-looking statements reflect our expectations as of today's date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. Conference Call and Webcast Information Corsair will release third quarter 2021 earnings and updated 2021 financial outlook before the market opens on November 2, 2021. A conference call to discuss its results will follow at 5:30 a.m. Pacific Time that same day. Those wishing to participate via the webcast...