NASDAQ$CRSR
Corsair Gaming Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Corsair reported revenue growth and improved profitability.
Corsair Gaming, Inc. announced financial results for the third quarter ended September 30, 2023, with a 16.5% increase in net revenue compared to the third quarter of 2022. The company reported a net loss attributable to common shareholders of $3.1 million, or a net loss of $0.03 per diluted share, and an adjusted EBITDA of $23.0 million.
- Net revenue increased by 16.5% to $363.2 million compared to $311.8 million in Q3 2022.
- Net loss attributable to common shareholders was $3.1 million, or a net loss of $0.03 per diluted share.
- Adjusted net income was $13.4 million, or net income of $0.13 per diluted share.
- Adjusted EBITDA was $23.0 million, compared to $10.1 million in the third quarter of 2022.
Headline financials
Revenue & EPS history
Corsair · Revenue · Quarterly
$363M
Revenue by segment
Corsair · $90.4M total across 1 segment · Q3 2023
- Gamer & Creator Peripherals$90.4M-6.7%100.0%
Forward guidance
Corsair is updating its outlook for the full year 2023, with tightened ranges. The Company expects revenue growth on a year-over-year basis and an improvement in adjusted EBITDA.
Tailwinds
- Net revenue for the full year 2023 is expected to be in the range of $1.4 billion to $1.5 billion.
- Adjusted operating income is expected to be in the range of $80 million to $90 million.
- Adjusted EBITDA is expected to be in the range of $95 million to $105 million.
- Revenue growth on a year-over-year basis is expected.
- Improvement for the full year 2023 in adjusted EBITDA led by an improvement in margin, normalized shipping costs, and continued tight operating expense controls is expected.
Headwinds
- Softer economic environment as compared to 2022.
- The GAAP measures are not accessible on a forward-looking basis.
- We are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures.
- Such items may include stock-based compensation charges, amortization, and other items.
- The unavailable information could have a significant impact on our GAAP financial results.
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 Q3 2023
+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
| Quarter | Report date | Reaction (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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