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Corsair Gaming Reports Fourth Quarter and Full Year 2022 Financial Results
MILPITAS, Calif.--(BUSINESS WIRE)-- Corsair Gaming, Inc. (Nasdaq: CRSR) (“Corsair” or the “Company”), a leading global provider and innovator of
About this update from Corsair Gaming, Inc.
[{"type":"text","content":" MILPITAS, Calif.--(BUSINESS WIRE)--\nCorsair Gaming, Inc. (Nasdaq: CRSR) (“Corsair” or the “Company”), a leading global provider and innovator of high-performance gear for gamers, streamers, content-creators, and gaming PC builders, today announced financial results for the fourth quarter and full year ended December 31, 2022.\n\nFourth Quarter 2022 Select Financial Metrics\n\n\nNet revenue was $398.7 million compared to $311.8 million in the third quarter of 2022 and $510.6 million in the fourth quarter of 2021. Gamer and creator peripherals segment net revenue was $117.8 million compared to $96.8 million in the third quarter of 2022 and $176.9 million in the fourth quarter of 2021, while Gaming components and systems segment net revenue was $280.9 million compared to $214.9 million in the third quarter of 2022 and $333.7 million in the fourth quarter of 2021.\n\n\nNet income attributable to common shareholders was $12.5 million, or $0.12 per diluted share, compared to net loss of $8.9 million, or $0.09 per diluted share, in the third quarter of 2022 and net income of $24.7 million, or $0.25 per diluted share, in the fourth quarter of 2021.\n\n\nAdjusted net income was $20.7 million, or $0.20 per diluted share, compared to adjusted net income of $7.6 million, or $0.08 per diluted share in the third quarter of 2022 and adjusted net income of $34.7 million, or $0.35 per diluted share, in the fourth quarter of 2021.\n\n\nAdjusted EBITDA was $32.0 million, compared to $10.1 million in the third quarter of 2022, and $39.5 million in the fourth quarter of 2021.\n\n\nCash and cash equivalents were $154.1 million as of December 31, 2022.\n\n\nFull Year 2022 Select Financial Metrics\n\n\nNet revenue was $1,375.1 million compared to $1,904.1 million in 2021. Gamer and creator peripherals segment net revenue was $437.8 million compared to $647.2 million in 2021, while gaming components and systems segment net revenue was $937.3 million compared to $1,256.9 million in 2021.\n\n\nNet loss attributable to common shareholders was $60.9 million, or $0.63 per diluted share, compared to net income of $101.0 million, or $1.01 per diluted share, for the full year 2021.\n\n\nAdjusted net income was $18.4 million, or $0.18 per diluted share, compared to $144.9 million, or $1.45 per diluted share for the full year 2021.\n\n\nAdjusted EBITDA was $46....