Corsair Gaming, Inc. · NASDAQ:CRSR
Corsair Gaming — FY2021 Earnings Presentation
21 slides from Corsair Gaming's earnings presentation, Feb 8, 2022
Slide 1: Q4 & Fiscal Year 2021 Financial Results
Q4 & FISCAL YEAR 2021 FINANCIAL RESULTS February 8, 2022 Exhibit 99.2
Slide 2: Disclaimer: Forward Looking Statements
DISCLAIMER Forward Looking Statements This presentation contains forward looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the Company's results may differ materially from those expressed or implie
Slide 3: Product Highlights
i as PROD CT HIGHLIGHTS i F ] : A | ~
Slide 4: New Technology – DDR5 Memory
NEW TECHNOLOGY – DDR5 MEMORY DDR5 Launched alongside Intel’s Z690 platform, for the biggest upgrade in performance memory in 7 years. Corsair DDR5 was trusted by over 100 leading media outlets and tech influencers to test the new platform and memory standard Consumer demand is extremely high and inc
Slide 5: New Category – Corsair Collections
NEW CATEGORY – CORSAIR COLLECTIONS Introducing Corsair Collections – custom & limited release, direct to consumer products Debuted with the new Flavor Rush Series of K65 RGB MINI keyboards Unique and deeper personalization for our most engaged customers
Slide 6: New Controller – PlayStation Controller
NEW CONTROLLER – PLAYSTATION 5 CONTROLLER SCUF controller made for PlayStation 5 – the SCUF Reflex Patented SCUF remappable paddles and adjustable controls give players the edge in the most competitive games Incredible customer demand saw our initial launch stock sell out in minutes. Three ways to w
Slide 7: Financial Results
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Slide 8: Revenue Data by Segment
REVENUE DATA BY SEGMENT +57% +104% +70% YoY -8% -8% -8% YoY +45% +83% +55% YoY +8% +20% +12% YoY Note: 2019 financials are not presented on a pro-forma basis for CORSAIR’s acquisitions of Origin and SCUF in 2019. $ in millions
Slide 9: Gross Margin Data by Segment
GROSS MARGIN DATA BY SEGMENT Note: 2019 financials are not presented on a pro-forma basis for CORSAIR’s acquisitions of Origin and SCUF in 2019. +93% +133% +5% +19% +198% +79% -19% -23% +108% YoY +10% YoY +118% YoY -21% YoY Segment gross profit Segment gross margin $ in millions
Slide 10: Expanding Adjusted EBITDA with Low Capex
EXPANDING ADJUSTED EBITDA WITH LOW CAPEX $ in millions 0.8% 0.5% 0.6% 6.5% 12.5% 10.5% 8.7% 13.0% 0.6% 0.7% 7.7% 0.6% Capex Spend (% of Revenue) Adjusted EBITDA Margin Note: See appendix on non-GAAP reconciliations; 2019 financials are not presented on a pro-forma basis for CORSAIR’s acquisitions Or
Slide 11: 2021 & Q4 Results
2021 & Q4 RESULTS In 2021 Net Revenues grew at 11.8%, following extraordinary 55.2% growth the year prior as gamers spend more time at home gaming and started to invest in dedicated gaming and streaming hardware. This growth came despite being restrained by supply chain challenges, including the lac
Slide 12: Gaming Components and Systems 2021 Results
GAMING COMPONENTS AND SYSTEMS 2021 RESULTS Net Revenue growth of 8.1% in 2021 despite the lack of availability in the retail channel for much of the year of reasonably priced GPUs which caused many enthusiasts to hold off building a performance gaming PC. We believe that as reasonably priced GPUs be
Slide 13: Gamer and Creator Peripherals 2021 Results
GAMER AND CREATOR PERIPHERALS 2021 RESULTS 2021 Net Revenue grew by 20.0%, led by our Elgato branded streaming and creator products, which outgrew the overall segment. 2021 Net Revenue grew significantly despite being impacted by IC shortages and a 4-6 weeks increase in transit times, which caused o
Slide 14: Financial Guidance FY2022
FINANCIAL GUIDANCE FY2022 (1) Given the number of risk factors, uncertainties and assumptions, many of which are discussed in slide 2, actual results may differ materially. Estimates should not be viewed as a substitute for our full annual financial statement and are not necessarily indicative of th
Slide 15: Debt Summary
DEBT SUMMARY In Q3 2021, refinanced long-term debt, substantially reducing the interest rate, doubled revolver to $100 million and reduced outstanding debt by $24 million to $250 million of face value. During 2021 we reduced the face value of our debt by $78.2 million and we estimate an interest exp
Slide 16: Appendix
APPENDIX
Slide 17: 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, adjusted net income, adjusted net income per share, adjusted EBITDA and adjusted EBITDA ma
Slide 18: GAAP to Non-GAAP Reconciliations: Operating Income
GAAP TO NON-GAAP RECONCILIATIONS Non-GAAP Operating Income Reconciliations (Unaudited, in thousands, except percentages)
Slide 19: GAAP to Non-GAAP Reconciliations: Net Income and EPS
GAAP TO NON-GAAP RECONCILIATIONS Non-GAAP Net Income and Net Income Per Share Reconciliations (Unaudited, in thousands, except per share amounts and percentages)
Slide 20: GAAP to Non-GAAP Reconciliations: Adjusted EBITDA
GAAP TO NON-GAAP RECONCILIATIONS Adjusted EBITDA Reconciliations (Unaudited, in thousands, except percentages)
Slide 21: Thank You
THANK YOU