Business
Corsair Gaming Reports Fourth Quarter and Full Year 2024 Financial Results
Delivers Solid Q4 Revenue and EBITDA Results Led by Strong YoY Growth in Gaming and Creator Segment MILPITAS, Calif.--(BUSINESS WIRE)-- Corsair Gaming, Inc.
About this update from Corsair Gaming, Inc.
[{"type":"text","content":"\nDelivers Solid Q4 Revenue and EBITDA Results Led by Strong YoY Growth in Gaming and Creator Segment\n\n\n MILPITAS, Calif.--(BUSINESS WIRE)--\nCorsair Gaming, Inc. (Nasdaq: CRSR) (“Corsair” or the “Company”), a leading global provider and innovator of high-performance products for gamers, streamers, content-creators, and gaming PC builders, today announced financial results for the fourth quarter and full year ended December 31, 2024, as well as guidance for the full year 2025.\n\n\nFourth Quarter 2024 Select Financial Metrics\n\n\n\nNet revenue was $413.6 million compared to $417.3 million in the fourth quarter of 2023, with strong growth in the Gamer and Creator Peripherals segment and the as expected softness in component sales in anticipation of Nvidia announcing new GPU cards at CES.\n\n\n\nGamer and Creator Peripherals segment net revenue was $169.6 million compared to $136.8 million in the fourth quarter of 2023 with some additional revenue coming from the Company’s recent Fanatec acquisition. Gaming Components and Systems segment net revenue was $244.1 million compared to $280.5 million in the fourth quarter of 2023.\n\n\n\nNet income attributable to common shareholders was $1.3 million, or net income of $0.01 per diluted share, compared to a net income of $6.2 million, or net income of $0.06 per diluted share, in the fourth quarter of 2023.\n\n\n\nAdjusted net income was $24.8 million, or net income of $0.23 per diluted share, compared to adjusted net income of $23.2 million, or net income of $0.22 per diluted share, in the fourth quarter of 2023.\n\n\n\nAdjusted EBITDA was $33.1 million, compared to $33.7 million for the fourth quarter of 2023.\n\n\n\nCash and restricted cash was $109.6 million as of December 31, 2024.\n\n\n\nFull Year 2024 Select Financial Metrics\n\n\n\nNet revenue was $1,316.4 million in 2024 compared to $1,459.9 million in 2023. Gamer and Creator Peripherals segment net revenue was $472.7 million in 2024 compared to $394.9 million in 2023, while Gaming Components and Systems segment net revenue was $843.7 million in 2024 compared to $1,065.0 million in 2023.\n\n\n\nNet loss attributable to common shareholders was $99.2 million, or a net loss of $0.95 per diluted share for the full year 2024, compared to net income of $3.2 million, or net income of $0.03 per diluted share for the full year 2023.\n...