Corsair Gaming, Inc. · NASDAQ:CRSR
Corsair Gaming — Q2 2025 Earnings Presentation
28 slides from Corsair Gaming's earnings presentation, Aug 7, 2025
Slide 1: Corsair Worlds Ahead Investor Presentation
BPACORSAIR WORLDS AHEAD INVESTOR PRESENTATION /MUGMWS 1F 7, ARORS
Slide 2: Disclaimer: Forward Looking Statements
DISCLAIMER Forward Looking Statements This presentation 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; mark
Slide 3: Corsair at a Glance
CORSAIR AT A GLANCE Our Unique Portfolio: Empowering DlYers, gamers, creators, and SIM enthusiasts with world-class gear and technology. DIY GAMING COMPONENTS PERIPHERALS » High Performance > Elite suite of Gaming DRAM Mice, Keyboards & > Innovative Power Patented Controllers Supplies » Custom Lab s
Slide 4: Portfolio of Leading Brands
PORTFOLIO OF LEADING BRANDS BACORSAIR XROP G elgato FANATEC ORIGIN (S) SCUF PC Components & Extensive Audio-Visual Racing PC Game Gaming Peripherals Customization Technology Simulator Builds Controllers Community-inspired Leading creator tools for keyboards and audio streaming, recording, and produc
Slide 5: Q2 2025 Highlights
Q2 2025 HIGHLIGHTS >» Delivered a strong quarter with double-digit growth in both revenue and gross profit, led by our Gaming Components & Systems segment. » Demand was fueled by the launch of next-generation GPUs from NVIDIA and AMD, which drove a wave of PC upgrades and new builds. >» Q2 strong pe
Slide 6: General Update
pACORSAIR GENERAL UPDATE
Slide 7: Gaming Components & Systems
GAMING COMPONENTS & SYSTEMS The Gaming Components & Systems segment achieved 30% year-over-year revenue growth, largely driven by the launch of NVIDIA's S000 series and AMD's 9000 series next-generation GPUs. CORSAIR had one of its most exciting Computex appearances to date, earning multiple awards
Slide 8: Gamer & Creator Peripherals
GAMER & CREATOR PERIPHERALS The Gamer & Creator Peripherals segment delivered 9% year-over-year revenue growth, supported by successful new product launches and ongoing investment in channel expansion. According to third-party analysts, CORSAIR gained market share in both keyboard and headset catego
Slide 9: Corsair MAKR Keyboard
CORSAIR MAKR 75 KEYBOARD The MAKR 75 keyboard eliminates the tradeoff between custom DIY builds and high- performance gaming keyboards, combining both in a premium, user-friendly design. Paired with the CORSAIR Web App, users can personalize lighting, remap keys, and record macros entirely online. B
Slide 10: Elgato Virtual Stream Deck
ELGATO VIRTUAL STREAM DECK Announced at Computex 2025, Elgato Virtual Stream Deck (VSD) is a transformative, software-only version of the beloved Stream Deck, enabling fully customizable control on any screen. Initially available to owners of Stream Deck hardware and select CORSAIR peripherals, such
Slide 11: Elgato 4K S Capture Card
ELGATO 4K S CAPTURE CARD This new Elgato capture card can deliver 4K at 60 fps with HDR10 support for high-fidelity capture. The launch of the Nintendo Switch 2 has accelerated gaming-related, high quality content creation, making the Elgato 4K S capture card the perfect choice for streamers. With d
Slide 12: Corsair AI Workstation
CORSAIR Al WORKSTATION 300 The CORSAIR Al WORKSTATION 300 delivers workstation-class Al performance in a compact 4-liter form factor, built for today’s demanding Al development workflows. Powered by AMD's latest architecture, it supports large local models and advanced tools like LM Studio and Stabl
Slide 13: Partnerships
PARTNERSHIPS In Q2, CORSAIR continued to deepen its strategic partnerships with leading game studios. We extended our collaboration with Bethesda by launching a new line of DOOM”™:The Dark Ages products across the CORSAIR ecosystem and expanded our Starfield collection. Additionally, we strengthened
Slide 14: Ongoing Debt Reduction
ONGOING DEBT REDUCTION In Q2 2025, we continued to make significant progress in reducing our debt, lowering the term loan by $24 million to a remaining balance of $125 million. On June 30, 2025, we successfully refinanced our debt with Bank of America, entering into a new five-year term under an Ame
Slide 15: Financial Results
FINANCIAL RESULTS
Slide 16: Q2 2025 & YTD Results
Q2 2025 & YTD RESULTS” Significant growth with Net Revenue $3201 $2613 22.5% $6899 $5986 15.3% increased margin %, resulting in $9.4M YoY increase in adjusted EBITDA. Gross Profit Margin 26.8% 24.1% 270bps 27.3% 25.0% 230bps YTD achieved 83.4% Gross Profit $85.9 $63.1 36.1% $188.2 $149.7 25.7% ; : ‘
Slide 17: Q2 2025 & YTD Segment Results
Q2 2025 & YTD SEGMENT RESULTS BBA corsair | CONFIDENTIAL Net Revenue $217.5 $167.1 % of Total Net Revenue 67.9% 63.9% Gross Profit $44.8 $27.4 Gross Profit Margin 20.6% 16.4% 30.2% $475.2 $3974 19.6% 400bps 68.9% 66.4% 250bps 63.5% $1007 $704 43.1% 420 bps 21.2% 17.7% 350 bps Net Revenue $102.6 $94.
Slide 18: Revenue
REVENUE S417M $414M $399M $381M $363M #370 $354M $337M $325M $320M $312M $304M $284M $261M $28 | oceq $273m —:$280M $247M $247M FERN) $244M seoeM $215M $195M $202M $167M $217. REVENUE BY SEGMENT Qi22 Q2 22 Q3 22 Q422 Q123 Q2 23 Q3 23 Q4 23 Q124 Q224 Q324 Q424 Qies Q2e5 Gaming Components and Systems
Slide 19: GAAP Segment Gross Margin %
GAAP SEGMENT GROSS MARGIN % 40.8% “415% — nn.0% 15.9% 16.4% 15.1% Qi22 Qee22** Q3B22 Q422 Qli23 Qee3 Q323 Q423 QI24 Qee4 Q324 Q424 Qi25 Qees = Gamer & Creator Peripherals = Gaming Components & Systems =» Total Corsair *Q4'24 and Q'25 results include impacts of a $4.2M and a $0.5M inventory FMV adjus
Slide 20: Adjusted EBITDA
ADJUSTED EBITDA” $34M $32M $33M $23M $23M $21M $18M $18M $15M $8M $10M | = Ql22 Q3 22 Q4 22 Q123 Q223 Q3 23 Q4 23 Q124 Q2 24 Q3 24 Q4 24 Qies Q2e5 -$1M -$11M (1) See appendix for reconciliation of non-GAAP metrics to most comparable GAAP metrics. BBA corsair | CONFIDENTIAL
Slide 21: Financial Guidance
FINANCIAL GUIDANCE Net Revenue $1.4-$1.6 billion BBA corsair | CONFIDENTIAL
Slide 22: Cash and Debt Summary
CASH AND DEBT SUMMARY Term Loan (face value) $125.0 Net Debt $20.4 BBR corsair | CONFIDENTIAL
Slide 23: Appendix
Slide 24: 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 25: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS Non-GAAP Operating Income (Loss) Reconciliations (Unaudited, in thousands, except percentages) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Operating Loss - GAAP $ (16,923) $ (24,714) $ (19,186) $ (34,933) Amortization 9,853 9,501 19,635,
Slide 26: 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 Months Ended June 30, June 30, 2025 2024 2025 2024 Net loss attributable to common stockholders of Corsair Gaming, Inc. $
Slide 27: GAAP to Non-GAAP Reconciliations
GAAP TO NON-GAAP RECONCILIATIONS Adjusted EBITDA Reconciliations (Unaudited, in thousands, except percentages) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 Net Loss - GAAP 5 (20,306) $ (23,507) $ (30,623) $ (34,536) Amortization 9,853 9,501 19,635 19,016 ‘Stock-based com
Slide 28: Corsair
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