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Mar 31, 2022
Corsair Q1 2022 Earnings Report
Corsair reported financial results, showing a decrease in net revenue compared to the first quarter of 2021, but an increase compared to the pre-pandemic first quarter of 2020.
Key Takeaways
Corsair Gaming, Inc. reported a net revenue of $380.7 million for the quarter ended March 31, 2022, a decrease of 28.1% compared to Q1 2021, and a GAAP operating loss of $2.5 million compared to an operating income of $67.3 million in Q1 2021. Adjusted EBITDA was $15.4 million, compared to $80.4 million in the first quarter of 2021.
Net revenue was $380.7 million, a decrease of 28.1% compared to Q1 2021.
Gamer and creator peripherals segment revenue was $134.1 million, a decrease of 23.7% compared to Q1 2021.
GAAP operating income declined 103.7% to a loss of $2.5 million compared to $67.3 million in Q1 2021.
GAAP net loss per diluted share was $0.05 compared to $0.47 GAAP net income per diluted share in Q1 2021.
Revenue by Segment
Forward Guidance
For the full year 2022, Corsair expects net revenue to be in the range of $1.6 billion to $1.8 billion, adjusted operating income to be in the range of $100 million to $120 million, and adjusted EBITDA to be in the range of $110 million to $130 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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