Corsair Gaming, Inc. · NASDAQ:CRSR
Corsair Gaming — Q3 2025 Earnings Presentation
29 slides from Corsair Gaming's earnings presentation, November 2025
Slide 1: Investor Presentation Q3: November 2025
INVESTOR PRESENTATION Q 3 : N O V E M B E R 2 0 2 5
Slide 2: Disclaimer
DISCLAIMER Forward Looking Statements This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company’s financial outlook for the full year 2025, the
Slide 3: Corsair at a Glance
CORSAIR AT A GLANCE Our Unique Portfolio: Empowering DIYers, gamers, creators, and SIM enthusiasts with world-class gear and technology. DIY GAMING STREAMING & COMPLETE SIMULATOR COMPONENTS PERIPHERALS CREATOR GEAR SYSTEMS RACING › High Performance DRAM › Elite suite of Gaming Mice, › Innovative Str
Slide 4: Portfolio of Leading Brands
PORTFOLIO OF LEADING BRANDS PC Components & Extensive Audio-Visual Racing PC Game Gaming Peripherals Customization Technology Simulator Builds Controllers Community-inspired Leading creator tools for Flagship brand for gaming Industry leader in sim High-end custom gaming Competitive performance keyb
Slide 5: Q3 2025 Financial Highlights Compared to Q3 2024
Q3 2025 FINANCIAL HIGHLIGHTS COMPARED TO Q3 2024 › Revenue for the first nine months of 2025 exceeded $1 billion with Adjusted EBITDA more than doubling on a year over year basis. › Q3 both the Gaming Components and Systems Segment as well as the Gamer and Creator Peripherals Segment continued to se
Slide 6: General Update
GENERAL UPDATE CORSAIR CONFIDENTIAL
Slide 7: Gaming Components and Systems
GAMING COMPONENTS AND SYSTEMS The Gaming Components and Systems segment grew over 15% year-over- year, fueled by increased demand for performance PC builds, memory products, and system upgrades. Enthusiasts continued to invest in high- wattage PSUs, 360mm water cooling, and large-capacity memory, pa
Slide 8: Gamer and Creator Peripherals
GAMER AND CREATOR PERIPHERALS The Gamer and Creator Peripherals segment grew over 10% year-over-year, driven by strong new product launches and channel expansion. CORSAIR gained share in performance gaming with the Saber Pro ultra-lightweight FPS mouse, the Vanguard 96 customizable gaming keyboard,
Slide 9: Vanguard 96 Pro
Q3 NEW PRODUCT LAUNCH VANGUARD 96 PRO › Optimally-compact 96% form factor › CORSAIR MGX Hyperdrive Magnetic Switches › Vibrant integrated RGB LCD screen for next-level personalization › Ultra-responsive 8,000Hz hyper-polling maximize every millisecond › Elgato Virtual Stream Deck integration “…it's
Slide 10: Sabre V2 Pro
Q3 NEW PRODUCT LAUNCH SABRE V2 PRO › Ultra-light 36g mouse. Designed by Pros. Built to Win › 8,000Hz hyper-polling for ultra-responsive input while wired and wireless › CORSAIR MARKSMAN S 33K DPI optical sensor with 750 IPS and 50G acceleration › Lag-free 2.4GHz wireless with up to 70-hour battery l
Slide 11: Air 5400
NEW PRODUCT LAUNCH AIR 5400 › Wraparound front and side glass panel for an unobstructed view › Customization options with the FRAME Modular Case System › CORSAIR InfiniRail™ Fan Mounting System delivers unmatched flexibility › Dual 360mm radiator support with two mounting locations › Supports revers
Slide 12: Game Capture 4K S
Q3 NEW PRODUCT LAUNCH GAME CAPTURE 4K S › Next-gen console capture: Stunning 4K60, 1440p120, or even 1080p240—play and capture it all with near-zero latency. Works on Windows, Mac, and iPad with plug- and-play simplicity › 4k60 Capture: Record in cinematic quality with crisp detail and vivid colors
Slide 13: Elgato Facecam 4K
Q3 NEW PRODUCT LAUNCH ELGATO FACECAM 4K Our most powerful Facecam yet, capturing Ultra HD video at a smooth 60 frames per second. With DSLR-like control and a suite of cinematic effects, it even supports lens filters—a first for webcams. › 4K Resolution: Look ultra-sharp, even zoomed-in or on big sc
Slide 14: SCUF Valor Pro Wireless Controller
Q3 NEW PRODUCT LAUNCH SCUF VALOR PRO WIRELESS CONTROLLER Play like a pro with the officially licensed Xbox Series X|S performance controller. Featuring customizable rear paddles, adjustable instant triggers, and ultra-fast connectivity. Endurance TMR thumbsticks deliver increased durability, resisti
Slide 15: Corsair Xeneon Edge
AWARD WINNING COMPANION DISPLAY CORSAIR XENEON EDGE After being announced at CES 2025, the highly anticipated Xeneon Edge started shipping in Q3’25. The versatile Xeneon Edge LCD Touch Display can be used across Corsair ecosystem, for example: as part of SIM Racing rig; as a temperature display in a
Slide 16: Financial Results
FINANCIAL RESULTS
Slide 17: Q3 2025 & YTD Results
Q3 2025 & YTD RESULTS(1) Q3'25 Q3'24 Y/Y YTD'25 YTD'24 Ytd/Ytd Growth in both revenue ($ in millions except EPS and percentages) and gross profit resulted in $345.8 $304.2 13.7% $1,035.6 $902.8 14.7% Net Revenue significant increases in Adjusted Operating Income Gross Profit $93.1 $69.7 33.6% $281.3
Slide 18: Q3 2025 & YTD Segment Results
Q3 2025 & YTD SEGMENT RESULTS GAMING COMPONENTS AND SYSTEMS ($ in millions except percentages) Q3'25 Q3'24 Y/Y YTD'25 YTD'24 YTD/YTD Net Revenue $233.1 $202.2 15.3% $708.4 $599.6 18.1% % of Total Net Revenue 67.4% 66.5% 90 bps 68.4% 66.4% 200 bps Gross Profit $48.8 $30.6 59.3% $149.5 $101.0 48.0% Gr
Slide 19: Revenue by Segment
REVENUE $417M $414M $399M $381M $363M $370M $354M $346M $137M $337M $118M $325M $320M $312M $170M $134M $90M $304M $112M $89M $284M $79M $107M $113M $261M $97M $103M $102M $89M $94M REVENUE BY SEGMENT $281M $273M $280M $265M $258M $247M $247M $244M $230M $233M $215M $217M $195M $202M $167M Q1 22 Q2
Slide 20: GAAP Segment Gross Margin %
GAAP SEGMENT GROSS MARGIN % 40.8% *41.5% 40.0% 39.3% 37.9% 38.3% 37.7%* 37.2% 32.8% 33.7% 33.1% 32.1% 32.4% 30.0% 28.0% 27.7% 26.2% 26.8% 26.9% 25.5% 25.7% 23.8% 24.5% 24.1% 24.6% 24.6% 24.1% 23.0% 22.9% 19.7% 22.2% 23.2% 21.8% 21.7% 20.9% 20.7% 20.6% 19.3% 18.5% 18.5% 18.7% 18.1% 15.9% 16.4% 15.1%
Slide 21: Adjusted EBITDA
ADJUSTED EBITDA(1) $34M $33M $32M $23M $23M $21M $18M $18M $15M $16M $8M $10M $5M Q1 22 Q2 22 Q3 22 Q4 22 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 -$1M -$11M (1) See appendix for reconciliation of non-GAAP metrics to most comparable GAAP metrics. CORSAIR | CONFIDENTIAL
Slide 22: Financial Guidance
FINANCIAL GUIDANCE(1) Financial Metrics 2025 Guidance Net Revenue $1.425 - $1.475 billion Adjusted Operating Income $76 - $81 million Adjusted EBITDA $85 - $90 million (1) Given the number of risk factors, uncertainties and assumptions, many of which are discussed in slide 2, actual results may diff
Slide 23: Cash and Debt Summary
CASH AND DEBT SUMMARY ($ in millions) September 30, 2025 Cash (Excluding restricted cash) $64.4 Term Loan (face value) $123.4 Total Debt $123.4 Net Debt $59.0 CORSAIR | CONFIDENTIAL
Slide 24: Appendix
pACORSAIR APPENDIX
Slide 25: Use of Non-GAAP Financial Measures
USE OF NON-GAAP FINANCIAL MEASURES To supplement the financial results presented in accordance with GAAP, this presentation includes certain non-GAAP financial information, including Adjusted Operating Income (Loss), Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income (Loss) and Adjusted Ne
Slide 26: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS Non-GAAP Operating Income (Loss) Reconciliations (Unaudited, in thousands, except percentages) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Operating Loss - GAAP $ (5,627) $ (20,944) $ (24,813) $ (55,877) Amortization 10,110 9,
Slide 27: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS Non-GAAP Net Income (Loss) and Net Income (Loss) Per Share Reconciliations (Unaudited, in thousands, except per share amounts) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net loss attributable to common stockholders of Corsair
Slide 28: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS Adjusted EBITDA Reconciliations (Unaudited, in thousands, except percentages) Three Months Ended Nine Months Ended September 30, September 30, 2025 2024 2025 2024 Net Loss - GAAP $ (10,392) $ (51,586) $ (41,015) $ (86,122) Amortization 10,110 9,567 29,745 28,583 Stoc
Slide 29: Corsair
CORSAIR