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Corsair Q1 2025 Earnings Report
Corsair Gaming reported strong first quarter 2025 growth in revenue, EBITDA, and gross margin.
Key Takeaways
Corsair Gaming achieved its revenue and earnings targets for Q1 2025, driven by continued growth in the Gamer and Creator Peripherals segment and a rebound in the Gaming Components and Systems segment. The successful integration of Fanatec also contributed positively to the results.
Net revenue increased to $369.8 million in Q1 2025 from $337.3 million in Q1 2024, showing continued growth in peripherals and a rebound in components.
Adjusted net income rose to $12.3 million ($0.11 per diluted share) in Q1 2025, up from $9.5 million ($0.09 per diluted share) in Q1 2024.
Adjusted EBITDA improved to $22.6 million in Q1 2025, compared to $18.0 million in Q1 2024.
The successful initial integration of Fanatec into Corsair's systems led to improved product availability and customer experience.
Revenue by Segment
Forward Guidance
Corsair expects continued year-over-year growth in the self-built PC market in Q2, assuming no major tariff disruptions or consumer slowdowns. The company is not reaffirming its full-year 2025 guidance due to tariff uncertainties but remains on track to achieve previously issued guidance if current conditions hold.
Positive Outlook
- Continued year-over-year growth expected in the self-built PC market due to improving GPU availability.
- No anticipation of major tariffs on core gaming PC components (CPUs and GPUs) based on current knowledge.
- Enthusiast-level products, including high-performance keyboards, mice, and headsets, are expected to remain resilient.
- Strong growth continues in non-China Asia, with increased investment in Japan, South Korea, and other important markets.
- Benefits of AI are starting to be seen across the business, with AI-enhanced tools and AI-driven knowledge base systems.
Challenges Ahead
- Potential for unexpected tariff-related disruptions.
- Risk of consumer slowdown due to generally higher prices on other consumer goods.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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