Corsair Gaming, Inc. · NASDAQ:CRSR
Corsair Gaming — Q4 2025 Earnings Presentation
39 slides from Corsair Gaming's earnings presentation, Feb 12, 2026
Slide 1: Investor Presentation
INVESTOR F E B R U A R Y 1 2 th PRESENTATION 2026
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 2026, the
Slide 3: Powered By Passion. Dedicated To Play.
Powered By Passion. Dedicated To Play. CORSAIR’s mission is to design and deliver high-quality, high-performance PC components, peripherals, and SIM Racing gear that empower gamers, creators, and enthusiasts worldwide. CORSAIR INVESTOR PRESENTATION | FEBRUARY 2026
Slide 4: Corsair at a Glance
CORSAIR AT A GLANCE FY25 REVENUE FY25 GROSS PROFIT FY25 ADJUSTED EBITDA1 +12% YoY +30% YoY +84% YoY $1,472.5M $425.9M $100.6M Products sold in Founded in NASDAQ 74 1994 CRSR countries Headquarters: Milpitas, CA CORSAIR INVESTOR PRESENTATION | FEBRUARY 2026 (1) See appendix for reconciliation of non-
Slide 5: Our Product Segmentation
OUR PRODUCT SEGMENTATION The CORSAIR ecosystem is a seamlessly connected range of high-performance components and systems, gamer and creator peripherals, SIM Racing gear, and software designed to work better together. GAMING COMPONENTS AND SYSTEMS GAMER AND CREATOR PERIPHERALS Components and Systems
Slide 6: The Corsair Ecosystem
CORSAIR INVESTOR PRESENTATION | FEBRUARY 2026 PC GA MIN G A N D C ON T EN T C REAT ION THE CORSAIR ECOSYSTEM
Slide 7: The Corsair Ecosystem
S I M R A C I N G THE CORSAIR ECOSYSTEM CORSAIR INVESTOR PRESENTATION | FEBRUARY 2026
Slide 8: Elgato Marketplace
ELGATO MARKETPLACE Elgato Marketplace is a flywheel and digital platform where Creators, Streamers, YouTubers, and Professionals discover and purchase thousands of plugins, overlays, and workflow tools that enhance their content and productivity. Meanwhile, developers can monetize the assets they bu
Slide 9: Portfolio of Leading Brands
PORTFOLIO OF LEADING BRANDS Together, our brands form a powerful ecosystem for gamers, creators, and enthusiasts around the world. GAMING COMPONENTS AND SYSTEMS GAMER AND CREATOR PERIPHERALS Providing the tools for gamers to play at their best. Empowering creators World renowned worldwide to produce
Slide 10: Trusted Brand
TRUSTED BRAND Our customers appreciate the value we deliver NPS SCORE* 64.5 Score Range Label What It Means 0 and above Favorable The brand is beginning to be a crowd favorite 20-30 Good The brand is a few critics but more brand advocates 30-50 Great The brand is delighting customers consistently 50
Slide 11: Over 100 Awards in Q4 2025
OVER 100 AWARDS IN Q4 2025 Our award-winning product portfolio is consistently recognized by experts for innovation, quality and performance. CORSAIR INVESTOR PRESENTATION | FEBRUARY 2026
Slide 12: Market Leadership
MARKET LEADERSHIP With strong customer adoption we have achieved market-leading positions across several of our product categories GAMING COMPONENTS AND SYSTEMS GAMER AND CREATOR PERIPHERALS #1 DRAM* #1 PSU* #1 Stream Deck Control** #4 Keyboards* #1 PC Cooling* Frontier in modern high-end SIM racing
Slide 13: Consistent Track Record of Innovation
CONSISTENT TRACK RECORD OF INNOVATION Accelerated cadence of innovation and new product introductions. Over 100 product launches in 2025 105 80 54 18 Q1 25 Q2 25 Q3 25 Q4 25 CORSAIR INVESTOR PRESENTATION | FEBRUARY 2026
Slide 14: Recent Product Highlights
RECENT PRODUCT HIGHLIGHTS The breadth of our innovation and brand collaboration continued in our most recent financial quarter AIR 5400 CASE CORSAIR ONE PC FRAME 4000D LCD SCUF VALOR PRO CONTROLLER FANATEC PODIUM Innovative triple-chamber design, Cutting-edge components for today’s RS ARGB CASE Offi
Slide 15: Business and Innovation Update
B U S I N E S S A N D I N N OVAT I O N U P D AT E CORSAIR CONFIDENTIAL
Slide 16: Direct to Consumer and Retail Expansion
DIRECT TO CONSUMER AND RETAIL EXPANSION › Grew direct-to-consumer engagement, driving stronger customer relationships and brand interaction, with nearly 20% of 2025 revenue coming from high margin direct-to-consumer sales › Opened first immersive retail experience store in November 2025, showcasing
Slide 17: Notable Product News
NOTABLE PRODUCT NEWS › Stream Deck now seamlessly integrated as a smart control layer across gaming, creation, productivity, and emerging AI workflows with voice control › Momentum in AI-enabled workflows, deeper software integrations and secured local computing platforms through our workstation and
Slide 18: Galleon 100 SD
NEW PRODUCT LAUNCH GALLEON 100 SD › The first high-performance gaming keyboard with a built-in Stream Deck. › GALLEON 100 SD combines CORSAIR and Elgato engineering for deep control and insight at your fingertips. › Play smarter with instant, one-touch access to in-game commands. › Keep everything w
Slide 19: Frame 4000D LCD
NEW PRODUCT LAUNCH FRAME 4000D LCD › FRAME 4000D LCD features a XENEON EDGE 14.5" LCD Touchscreen built-in. › The pre-installed XENEON EDGE 14.5" LCD Touchscreen brings a whole new world of real- time system monitoring and customizable widgets right to your fingertips including Stream Deck capabilit
Slide 20: Fanatec Podium
NEW PRODUCT LAUNCH FANATEC PODIUM › Delivers a true 25 Nm of holding torque with uncompromising stability and precision. › FullForce technology enriches the force feedback signal with high-resolution detail, allowing every subtle interaction between car and surface to be felt. › Built for drivers wh
Slide 21: Valor Pro Wireless
NEW PRODUCT LAUNCH VALOR PRO WIRELESS › Officially licensed Xbox Series X|S performance controller. › Endurance TMR thumbsticks deliver increased durability, resisting wear and tear for consistent precision and smooth control game after game. › Play where you want and how you want with connection op
Slide 22: Collaborations
NEW PRODUCT LAUNCH COLLABORATIONS › Fuel your setup with the CORSAIR x Fallout: Nuka-Cola Collection, bringing the iconic retro-futuristic refreshment straight from the Wasteland to your deskscape. › Relive the adventure with the CORSAIR x The Witcher 3: Wild Hunt 10th Anniversary Collection, all cr
Slide 23: Elgato Wave Link
NEW SOFTWARE LAUNCH ELGATO WAVE LINK › Fully redesigned audio interface, faster, more intuitive controls and a smoother workflow for creators on both Windows and macOS › Expanded inputs and customizable output mixes, support for multiple hardware and software sources with up to 5 independent mix out
Slide 24: Financial Update
F I N A N C I A L U P D AT E CORSAIR CONFIDENTIAL
Slide 25: FY2025 Financial Highlights
FY2025 FINANCIAL HIGHLIGHTS REVENUE GROSS PROFIT ADJUSTED EBITDA1 ADJUSTED EPS (DILUTED)1 +12% YoY +30% YoY +84% YoY +$0.65 YoY $1,472.5M $425.9M $100.6M $0.62 $1,441 $1,460 $1,443 $1,472 $1,408 $1,449 $1,348 $1,390 $1,379 $1,320 $1,316 $1,349 $101 $93 $95 $93 $80 $80 $74 $69 $59 $52 $55 $55 Q1 23 Q
Slide 26: Q4 2025 Financial Highlights
Q4 2025 FINANCIAL HIGHLIGHTS REVENUE GROSS PROFIT ADJUSTED EBITDA 1 ADJUSTED EPS (diluted) 1 +6% YoY +33% YoY +62% YoY +$0.20 YoY $436.9M $144.6M $53.6M $0.43 $436.9 $53.6 $398.7 $417.3 $413.6 $32.0 $33.7 $33.1 Q4 22 Q4 23 Q4 24 Q4 25 Q4 22 Q4 23 Q4 24 Q4 25 Revenue in $ Millions Adjusted EBITDA in
Slide 27: Gaming Components and Systems
GAMING COMPONENTS AND SYSTEMS Consistent Market Leadership in Memory & Components $1,065 $1,065 $1,008 $1,030 $956 $951 $952 $980 $922 $880 $871 $844 FY25 REVENUE Q425 Q4 25 REVENUE REVENUE +4% YoY +16% YoY -3% YoY +11% YoY $492.1M $980.3M $164.9M $272.0M Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4
Slide 28: Gamer and Creator Peripherals
GAMER AND CREATOR PERIPHERALS Solid Growth in Higher Margin Peripherals $497 $492 $473 $478 $486 $428 $440 $413 $393 $382 $395 $376 FY25 REVENUE Q4 25 REVENUE +4% YoY -3% YoY $492.1M $164.9M Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Trailing 12-month Revenue in $ Millio
Slide 29: Looking Ahead
LOOKING AHEAD CORSAIR CONFIDENTIAL
Slide 30: Capital Allocation Flexibility
CAPITAL ALLOCATION FLEXIBILITY › First-ever share repurchase authorization approved by the Board, reflecting our belief in the company’s long-term value › Up to $50 million authorized for repurchases, effective immediately, with no expiration date › Capital allocation flexibility preserved, designed
Slide 31: Financial Guidance (2026)
FINANCIAL GUIDANCE(1) Financial Metrics 2026 Guidance Net Revenue $1.33 - $1.47 billion Adjusted EBITDA $100 - $115 million Non-GAAP EPS $0.58 - $0.74 (1) Given the number of risk factors, uncertainties and assumptions, many of which are discussed in slide 2, actual results may differ materially. We
Slide 32: Financial Guidance (Q1 2026)
FINANCIAL GUIDANCE(1) Financial Metrics Q1 2026 Guidance Net Revenue $335 - $365 million Adjusted EBITDA $25 - $30 million Non-GAAP EPS $0.18 - $0.22 (1) Given the number of risk factors, uncertainties and assumptions, many of which are discussed in slide 2, actual results may differ materially. We
Slide 33: 2026 Focus Areas
2026 FOCUS AREAS 1. Improve Quality of Growth › Grow higher margin Gaming, Sim Racing, and Creator categories › Scale ecosystem platforms via a steady cadence of innovation › Leverage scale in Components and Systems to help drive market share gains and revenue 2. Expand Margins Through Discipline an
Slide 34: Appendix
APPENDIX
Slide 35: 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 36: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS Non-GAAP Operating Income (Loss) Reconciliations (Unaudited, in thousands, except percentages) Three Months Ended Year Ended December 31, December 31, 2025 2024 2025 2024 Operating income (loss) - GAAP $ 26,889 $ 5,923 $ 2,076 $ (49,954) Amortization 10,483 9,865 40,
Slide 37: 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 Year Ended December 31, December 31, 2025 2024 2025 2024 Net income (loss) attributable to common stockholders of Corsair
Slide 38: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS Adjusted EBITDA Reconciliations (Unaudited, in thousands, except percentages) Three Months Ended Year Ended December 31, December 31, 2025 2024 2025 2024 Net income (loss) - GAAP $ 26,050 $ 2,728 $ (14,965) $ (83,394) Amortization 10,483 9,865 40,228 38,448 Stock-bas
Slide 39: Corsair
CORSAIR