Corsair Gaming, Inc. Goodwill & Intangibles Disclosure
5. Goodwill and Intangible Assets
Goodwill
The following table summarizes the changes in the carrying amount of goodwill by reportable segment (in thousands):
|
|
Gaming |
|
|
Gamer and |
|
|
Total |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
December 31, 2023 |
|
$ |
148,936 |
|
|
$ |
205,769 |
|
|
$ |
354,705 |
|
Addition from business acquisition |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Purchase price adjustment |
|
|
— |
|
|
|
— |
|
|
|
— |
|
Measurement period adjustments |
|
|
— |
|
|
|
(28 |
) |
|
|
(28 |
) |
Effect of foreign currency exchange rates |
|
|
(61 |
) |
|
|
(394 |
) |
|
|
(455 |
) |
December 31, 2024 |
|
|
148,875 |
|
|
|
205,347 |
|
|
|
354,222 |
|
Measurement period adjustments |
|
|
— |
|
|
|
2,140 |
|
|
|
2,140 |
|
Effect of foreign currency exchange rates |
|
|
81 |
|
|
|
1,322 |
|
|
|
1,403 |
|
December 31, 2025 |
|
$ |
148,956 |
|
|
$ |
208,809 |
|
|
$ |
357,765 |
|
Intangible assets, net
The following table is a summary of intangible assets, net (in thousands):
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
||||||||||||||||||
|
|
Gross |
|
|
Accumulated |
|
|
Net |
|
|
Gross |
|
|
Accumulated |
|
|
Net |
|
||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||
Developed technology |
|
$ |
31,912 |
|
|
$ |
19,891 |
|
|
$ |
12,021 |
|
|
$ |
50,512 |
|
|
$ |
28,958 |
|
|
$ |
21,554 |
|
Trade name |
|
|
45,961 |
|
|
|
14,935 |
|
|
|
31,026 |
|
|
|
45,448 |
|
|
|
11,606 |
|
|
|
33,842 |
|
Customer relationships |
|
|
216,869 |
|
|
|
180,962 |
|
|
|
35,907 |
|
|
|
217,868 |
|
|
|
160,183 |
|
|
|
57,685 |
|
Patent |
|
|
36,450 |
|
|
|
27,624 |
|
|
|
8,826 |
|
|
|
34,307 |
|
|
|
21,376 |
|
|
|
12,931 |
|
Supplier relationship |
|
|
5,997 |
|
|
|
3,997 |
|
|
|
2,000 |
|
|
|
5,745 |
|
|
|
2,872 |
|
|
|
2,873 |
|
Total finite-life intangibles |
|
|
337,189 |
|
|
|
247,409 |
|
|
|
89,780 |
|
|
|
353,880 |
|
|
|
224,995 |
|
|
|
128,885 |
|
Indefinite life trade name |
|
|
35,430 |
|
|
|
— |
|
|
|
35,430 |
|
|
|
35,430 |
|
|
|
— |
|
|
|
35,430 |
|
Other |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
4 |
|
|
|
— |
|
|
|
4 |
|
Total intangible assets |
|
$ |
372,619 |
|
|
$ |
247,409 |
|
|
$ |
125,210 |
|
|
$ |
389,314 |
|
|
$ |
224,995 |
|
|
$ |
164,319 |
|
In the year when an identified intangible asset becomes fully amortized, the fully amortized balances from the gross asset and accumulated amortization amounts are removed from the table above.
Amortization expense of intangible assets was recognized in our consolidated statements of operations as follows (in thousands):
|
|
Years Ended December 31, |
|
|||||||||
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|||
|
|
|
|
|
|
|
|
|
|
|||
Cost of revenue |
|
$ |
6,536 |
|
|
$ |
5,963 |
|
|
$ |
5,842 |
|
Sales, general and administrative |
|
|
26,725 |
|
|
|
25,335 |
|
|
|
24,496 |
|
Product development |
|
|
6,967 |
|
|
|
7,150 |
|
|
|
8,150 |
|
Total amortization of intangible assets |
|
$ |
40,228 |
|
|
$ |
38,448 |
|
|
$ |
38,488 |
|
The estimated future amortization expense of intangible assets as of December 31, 2025 is as follows (in thousands):
|
|
Amounts |
|
|
|
|
|
|
|
2026 |
|
$ |
36,182 |
|
2027 |
|
|
25,424 |
|
2028 |
|
|
5,469 |
|
2029 |
|
|
3,764 |
|
2030 |
|
|
3,585 |
|
Thereafter |
|
|
15,356 |
|
Total |
|
$ |
89,780 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 25, 2026 | Showing above |
| 2024 | Feb 26, 2025 | |
| 2023 | Feb 27, 2024 | |
| 2022 | Feb 27, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Mar 11, 2021 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.