Corsair Gaming (NASDAQ:CRSR) Announces Quarterly Earnings Results

Key Points

• Corsair beat estimates with EPS of $0.27 vs consensus $0.18 and revenue of $354.5M, though revenue was down 4.1% year‑over‑year and net margin remained slightly negative.
• The company delivered a record gross margin (32.7%) and 58% YoY growth in adjusted EBITDA to $35.8M, generated $29.7M of operating cash and reached a near 0 net debt position while repurchasing about $5M of stock.
• Higher‑margin peripherals—driven by the Stream Deck/Elgato ecosystem and rising DTC mix (20% of revenue)—showed structural growth, but gaming components and systems fell ~10% due to a non‑GPU upgrade cycle, weak memory pricing and semiconductor constraints; Q2 guidance is cautious at $295–320M revenue and $12.5–15.5M adjusted EBITDA.

Corsair Gaming (NASDAQ:CRSR - Get Free Report) issued its earnings results on Thursday. The company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.09, FiscalAI reports. The business had revenue of $354.51 million during the quarter, compared to analysts' expectations of $352.36 million. Corsair Gaming had a negative net margin of 0.87% and a positive return on equity of 6.71%. The business's revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.11 earnings per share.

Here are the key takeaways from Corsair Gaming's conference call:

• Record gross margin (32.7%), adjusted EBITDA of $35.8M (up 58% YoY) and improved EPS, plus generated $29.7M cash from operations and reached a near 0 net debt position while repurchasing ~$5M of stock.
• Gamer & creator peripherals showed structural growth (10% YoY) driven by the Stream Deck ecosystem and double-digit sequential growth in new Elgato marketplace accounts and digital products, with Stream Deck integration across Corsair hardware.
• Gaming components and systems revenue fell ~10% YoY due to a non-GPU upgrade cycle, weak memory pricing and semiconductor supply constraints that the company expects to persist into the near term (potentially easing in 2027).
• Higher-margin mix is improving as DTC rose to 20% of revenue (from 17%), with a stated goal of 25%, helping lift blended gross margin and supporting the company’s shift toward recurring and higher-margin channels.
• Q2 guidance calls for revenue of $295M–$320M and adjusted EBITDA of $12.5M–$15.5M (with reaffirmed full-year guidance), reflecting seasonal patterns and management’s cautious posture given macro and semiconductor uncertainty.

Corsair Gaming Stock Performance

Shares of CRSR traded down $0.17 during mid-day trading on Thursday, hitting $7.09. 2,063,113 shares of the company traded hands, compared to its average volume of 850,029. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.84 and a current ratio of 1.54. The stock has a 50-day moving average price of $5.94 and a two-hundred day moving average price of $6.10. Corsair Gaming has a 1 year low of $4.48 and a 1 year high of $10.29. The stock has a market cap of $757.78 million, a price-to-earnings ratio of -54.54 and a beta of 1.59.

Institutional Trading of Corsair Gaming

Several large investors have recently added to or reduced their stakes in CRSR. Invesco Ltd. grew its position in Corsair Gaming by 144.4% during the fourth quarter. Invesco Ltd. now owns 1,330,581 shares of the company's stock valued at $7,904,000 after buying an additional 786,049 shares during the period. Millennium Management LLC grew its position in Corsair Gaming by 506.2% during the fourth quarter. Millennium Management LLC now owns 635,798 shares of the company's stock valued at $3,777,000 after buying an additional 530,914 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in Corsair Gaming during the third quarter valued at approximately $3,877,000. AQR Capital Management LLC grew its position in Corsair Gaming by 328.9% during the second quarter. AQR Capital Management LLC now owns 397,881 shares of the company's stock valued at $3,752,000 after buying an additional 305,103 shares during the period. Finally, Qube Research & Technologies Ltd bought a new stake in Corsair Gaming during the third quarter valued at approximately $2,555,000. 25.66% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Barclays decreased their target price on shares of Corsair Gaming from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Friday, February 13th. Robert W. Baird set a $6.00 target price on shares of Corsair Gaming in a report on Friday, February 13th. B. Riley Financial lifted their target price on shares of Corsair Gaming from $6.00 to $7.00 and gave the stock a "neutral" rating in a report on Friday, February 13th. Zacks Research cut shares of Corsair Gaming from a "strong-buy" rating to a "hold" rating in a report on Friday, March 13th. Finally, Craig Hallum reissued a "buy" rating and set a $8.00 price objective on shares of Corsair Gaming in a report on Friday, February 13th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Corsair Gaming has a consensus rating of "Hold" and an average price target of $7.71.

Corsair Gaming Company Profile

Corsair Gaming, Inc, headquartered in Fremont, California, is a leading manufacturer of high-performance gaming peripherals and PC components. Since its founding in 1994 by Andy Paul, Don Lieberman and John Beekley as Corsair Microsystems, the company has evolved from producing memory modules to a broad portfolio of gaming hardware. Its product range includes gaming keyboards, mice, headsets, PC chassis, power supplies, cooling solutions, memory modules, solid-state drives and streaming accessories under brands such as Corsair, Elgato and SCUF Gaming.

The company's solutions cater to PC enthusiasts, competitive gamers and content creators, offering hardware and integrated software designed to optimize performance and user experience.

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