NASDAQ$CRSR
Corsair Gaming Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Corsair's financial performance declined compared to the same quarter last year, but showed growth in the Gamer and Creator Peripherals segment and completed the acquisition of Fanatec.
Corsair Gaming, Inc. reported a decrease in net revenue and a net loss for Q3 2024, with overall revenue down 16.2% year-over-year. However, the Gamer and Creator Peripherals segment saw a 13% increase in revenue. The company completed the acquisition of Fanatec and anticipates a strong 2025 with new product launches and a rebound in the components product lines.
- Net revenue decreased by 16.2% to $304.2 million compared to Q3 2023.
- Gamer and Creator Peripherals segment revenue increased by 13% year-over-year.
- Net loss attributable to common shareholders was $58.4 million, or $0.56 per diluted share.
- Completed the acquisition of the Fanatec Sim Racing brand to expand into the Sim Racing market.
Headline financials
Revenue & EPS history
Corsair · Revenue · Quarterly
$304M
Revenue by segment
Corsair · $90.4M total across 1 segment · Q3 2023
- Gamer & Creator Peripherals$90.4M-6.7%100.0%
Forward guidance
Corsair updated its financial outlook for the full year 2024, expecting revenue to improve with further improvement in adjusted EBITDA led by margin improvements, stabilized shipping costs, and tight operating expense controls.
Tailwinds
- Revenue for the full year 2024 expected to be in the range of $1.25 billion to $1.35 billion.
- Includes approximately $20 million of EBITDA-neutral revenue in Q4 2024 from the Fanatec acquisition.
- Anticipates a further improvement in adjusted EBITDA.
- Expects margin improvements.
- Shipping costs are expected to stabilize.
Headwinds
- Adjusted operating income is now expected to be in the range of $28 million to $43 million, compared to $48 million to $63 million previously.
- Adjusted EBITDA is now expected to be in the range of $40 million to $55 million, compared to $60 million to $75 million previously.
- The Company's Gaming Components and Systems business segment continues to show challenging results
- Q2 through Q3 2024 was the trough for revenue and margins for our Gaming Components and Systems segment
- Took additional cost saving actions, including a targeted workforce reduction
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 2024
+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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