NASDAQ$CRSR

Corsair Gaming Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Reported record revenue and profit, and raised full-year guidance.

Corsair Gaming, Inc. reported a record first quarter with net revenue of $529.4 million, a 71.6% year-over-year increase. The company raised its full-year 2021 guidance for net revenue, adjusted operating income, and adjusted EBITDA.

  • Net revenue was $529.4 million, an increase of 71.6% year-over-year.
  • Gamer and creator peripherals segment net revenue was $175.9 million, an increase of 131.9% year-over-year.
  • Gaming components and systems segment net revenue was $353.5 million, an increase of 51.9% year-over-year.
  • Net income was $46.7 million, or $0.47 per diluted share.

Headline financials

Total Revenue

$529M

Previous: $309M+71.6%
EPS (adj)

$0.58

Previous: $0.01+5700.0%
Gross Margin

30.3%

No prior period
Adjusted EBITDA Margin

15.2%

No prior period
Capital Expenditures

-$2.04M

Previous: $1.85M-210.2%
Free Cash Flow

$44.7M

Previous: $153K+29107.2%
Net Income

$46.7M

Previous: $1.22M+3739.2%
Operating Income

$67.3M

Previous: $13.3M+404.5%
Gross Profit

$160M

Previous: $78.6M+103.9%
Cash & Equivalents

$122M

Previous: $50.5M+140.9%
Total Assets

$1.33B

No prior period
Stock-Based Comp

$3.08M

Previous: $1.11M+178.4%

Revenue & EPS history

Corsair · Revenue · Quarterly

$529M

Q1 2021+71.6%vs Q1 2020
Beat estimate in 5 of 6 quarters(83%)
ActualEstimate

Revenue by segment

Corsair · $176M total across 1 segment · Q1 2021

  • Gamer & Creator Peripherals
    $176M+131.9%

Forward guidance

The Company is updating guidance for the full-year 2021 as indicated below:

Tailwinds

  • Raising net revenue to be in the range of $1.9 billion to $2.1 billion from $1.8 billion to $1.95 billion.
  • Raising adjusted operating income to be in the range of $235 million to $255 million from $205 million to $220 million.
  • Raising adjusted EBITDA to be in the range of $245 million to $265 million from $215 million to $230 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

+3.8%

Avg return

Earnings day

+4.5%

Avg return

5 days after

+5.8%

Avg return

30 days after

62%

18 / 29 earnings

Positive

+48.3%

Q4 2025

Best reaction

-21.9%

Q2 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.0%+4.7%+27.1%
Q4 2025+48.3%+21.7%+16.2%
Q3 2025-3.8%-0.2%+0.0%
Q1 2025-0.3%+21.1%+33.4%
Q4 2024+25.9%+23.0%+5.8%
Q3 2024-0.4%+2.5%+8.7%
Q2 2024-21.9%-22.4%-15.1%
Q1 2024-7.5%-7.1%+0.6%
Q4 2023+1.6%+0.1%-9.0%
Q3 2023-6.6%-5.1%+2.5%
Q2 2023-10.0%-10.0%-12.9%
Q1 2023+8.4%+7.0%+6.8%
Q4 2022+9.0%+15.7%+5.2%
Q3 2022+18.4%+32.0%+38.1%
Q2 2022+5.0%+5.4%-9.6%
Q1 2022-6.3%-10.2%-3.4%
Q4 2021+10.4%+8.6%+6.5%
Q3 2021+5.7%+5.3%-12.3%
Q2 2021-5.5%-3.1%-0.5%
Q1 2020+1.7%+0.7%+1.7%
Q1 2021+1.7%+0.7%+1.7%
Q1 2019+2.8%+3.1%+1.1%
Q4 2018+2.8%+3.1%+1.1%
Q2 2020+2.8%+3.1%+1.1%
Q2 2019+2.8%+3.1%+1.1%
Q4 2020-7.2%-6.4%-26.4%
Q3 2019+10.7%+10.9%+32.5%
Q4 2019+10.7%+10.9%+32.5%
Q3 2020+10.7%+10.9%+32.5%
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017

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