Business
Corsair Gaming Reports Third Quarter 2021 Financial Results
Reports Third Quarter Revenue and Profit FREMONT, Calif., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Corsair Gaming, Inc. (NASDAQ:CRSR) (“Corsair”), a leading global
About this update from Corsair Gaming, Inc.
[{"type":"text","content":"Reports Third Quarter Revenue and Profit\nFREMONT, Calif., Nov. 02, 2021 (GLOBE NEWSWIRE) -- Corsair Gaming, Inc. (NASDAQ:CRSR) (“Corsair”), a leading global provider and innovator of high-performance gear for gamers and content creators, today announced financial results for the third quarter ended September 30, 2021. Year-to-Date 2021 Highlights Net revenue for the nine months ended September 30, 2021 was $1,393 million, an increase of 21.6% year-over-year. Gamer and creator peripherals segment net revenue was $470.3 million, an increase of 35.3% year-over-year. Gaming components and systems segment net revenue was $923.1 million, an increase of 15.6% year-over-year.Net income for the nine months ended September 30, 2021 was $76.2 million, or $0.76 per diluted share, compared to net income of $60.2 million in the same period last year, or $0.69 per diluted share.Adjusted net income for the nine months ended September 30, 2021 was $110.2 million, or $1.10 per diluted share, compared to adjusted net income of $91.9 million in the same period last year, or $1.05 per diluted share.Adjusted EBITDA for the nine months ended September 30, 2021 was $159.6 million, an increase of 13.6% year-over-year. Third Quarter 2021 Highlights Net revenue was $391.1 million, a decrease of 14.4% year-over-year. Gamer and creator peripherals segment net revenue was $139.3 million, a decrease of 13.8% year-over-year. Gaming components and systems segment net revenue was $251.9 million, a decrease of 14.8% year-over-year.Net income was $1.8 million, or $0.02 per diluted share, compared to net income of $36.4 million in the same period last year, or $0.40 per diluted share.Adjusted net income was $16.3 million, or $0.16 per diluted share, compared to adjusted net income of $48.5 million in the same period last year, or $0.54 per diluted share.Adjusted EBITDA was $27.6 million, a decrease of 56.6% year-over-year. 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.” “Corsair remains well positioned to capitalize on the underlying secular growth trends around gaming, esports and streaming, and we intend to continue to make investments to enhance our customer experience. Dur...