Corsair Gaming, Inc.

Listed Company

CRSRCIK 0001743759NasdaqAcceleratedComputer Peripheral Equipment, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$1.47B

Net Income

$-16.16M

Total Assets

$1.25B

Equity

$633.56M

Shares Out

106.66M

Op. Cash Flow

$50.12M

Business

Corsair Gaming, Inc. is a global provider and innovator of high-performance products for gamers and digital creators. It designs, develops and sells gaming and streaming peripherals, PC components and systems, prebuilt and custom gaming PCs and laptops, and proprietary software platforms such as iCUE and the Elgato streaming suite, plus related digital services. The company reports two operating segments: Gamer and Creator Peripherals and Gaming Components and Systems. Its products are sold worldwide through retail, e-retail and direct-to-consumer channels, and via distributors and major retailers.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net revenue	1,472	1,316	1,460	1,375	1,904
Cost of revenue	1,047	989	1,100	1,078	1,390
Gross profit	426	328	360	297	514
Sales, general and administrative	355	310	285	285	316
Product development	69	68	65	66	60
Total operating expenses	424	378	351	351	376
Operating income (loss)	2	−50	10	−55	138
Interest expense	−9	−13	−17	−10	−18
Interest income	2	3	7	374,000	—
Other expense, net	−7	−2	−3	213,000	−6
Total other expense, net	−14	−12	−13	−9	−23
Loss before income taxes	−12	−62	−3	−64	115
Income tax benefit (expense)	−3	−22	2	10	−14
Net loss	−15	−83	−1	−54	101
Less: Net income attributable to noncontrolling interest	1	2	2	442,000	—
Net loss attributable to Corsair Gaming, Inc.	−16	−85	−3	−54	101
Change in redemption value of redeemable noncontrolling interest	4	−14	6	−7	—
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc.	−12	−99	3	−61	101
Basic (per share)	−0.12	−0.95	0.03	−0.63	1.08
Diluted (per share)	−0.12	−0.95	0.03	−0.63	1.01
Basic (shares)	106	104	102	96	93
Diluted (shares)	106	104	106	96	100

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	97	107	176	151	62
Restricted cash	1	2	3	3	3
Accounts receivable, net	234	219	253	236	291
Inventories	303	260	240	193	298
Prepaid expenses and other current assets	30	35	40	41	51
Total current assets	665	623	712	623	706
Restricted cash, noncurrent	250,000	246,000	239,000	233,000	231,000
Property and equipment, net	32	30	32	35	17
Goodwill	358	354	355	348	317
Intangible assets, net	125	164	188	216	226
Other assets	74	64	71	75	72
Total assets	1,254	1,236	1,357	1,297	1,337
Debt maturing within one year, net	6	12	12	6	5
Accounts payable	213	207	240	172	236
Other liabilities and accrued expenses	212	177	166	164	206
Total current liabilities	431	396	418	343	447
Long-term debt, net	115	161	186	232	243
Deferred tax liabilities	6	7	17	18	26
Other liabilities, noncurrent	56	51	42	49	54
Total liabilities	608	616	663	642	769
Commitments and Contingencies (Note 8)	—	—	—	—	—
Redeemable noncontrolling interest	12	15	16	21	—
Preferred stock, $0.0001 par value: 5,000 shares authorized, nil and nil shares issued and outstanding as of December 31, 2025 and 2024, respectively	—	—	—	—	—
Common stock, $0.0001 par value: 300,000 shares authorized, 106,639 and 104,763 shares issued and outstanding as of December 31, 2025 and 2024, respectively	11,000	10,000	10,000	10,000	9,000
Additional paid-in capital	705	668	631	593	470
Accumulated deficit	−71	−59	40	37	98
Accumulated other comprehensive loss	−585,000	−5	−3	−7	−340,000
Total stockholders' equity	634	604	668	624	568
Total liabilities, temporary equity and stockholders' equity	1,254	1,236	1,357	1,297	1,337

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Stock-based compensation	33	31	31	22	17
Depreciation	14	13	12	11	10
Amortization	40	38	38	43	35
Bargain purchase gain on business acquisition	3	−3	—	—	—
Deferred income taxes, net of valuation allowance	−7	11	−6	−22	−12
Other	4	6	4	5	3
Accounts receivable	−18	32	−18	56	444,000
Inventories	−52	18	−39	111	−71
Prepaid expenses and other assets	9	6	2	1	−13
Accounts payable	6	−40	62	−66	−64
Other liabilities and accrued expenses	32	5	4	−41	7
Net cash provided by operating activities	50	36	89	66	20
Acquisition of businesses, net of cash acquired	—	−43	−14	−20	−5
Purchase of property and equipment	−15	−10	−13	−26	−11
Purchase of intangible asset	—	−100,000	—	—	—
Purchase price adjustment related to business acquisition	—	1	—	—	—
Payment of bridge loan origination costs related to business acquisition	—	−666,000	—	—	—
Net cash used in investing activities	−15	−53	−27	−47	−21
Repayment of debt and debt issuance costs	−53	−25	−41	−9	−328
Borrowings from line of credit	45	25	—	702	64
Repayment of line of credit	−45	−25	—	−702	−64
Purchase of additional ownership interest	—	−20	—	—	—
Payment of other offering costs	—	—	−497,000	−296,000	—
Proceeds from issuance of shares through employee equity incentive plans	6	5	7	7	15
Payment of taxes related to net share settlement of equity awards	−1	−573,000	−1	−2	−397,000
Dividend paid to noncontrolling interest	−494,000	−6	−980,000	−4	—
Payment of deferred and contingent consideration	—	−5	−950,000	−438,000	—
Net cash used in financing activities	−49	−51	−37	73	−65
Effect of exchange rate changes on cash	3	−1	−281,000	−3	−2
Net increase (decrease) in cash and restricted cash	−11	−69	25	89	−68
Cash paid for interest	9	13	17	9	11
Cash paid for income taxes, net	10	5	7	14	41
Equipment purchased and unpaid at period end	3	2	1	5	2
Purchase consideration related to business combination	—	592,000	—	—	—
Receivable for business acquisition purchase price adjustment	—	—	1	—	—

Filings

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