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Dec 31, 2020
Corsair Q4 2020 Earnings Report
Corsair reported strong Q4 2020 results driven by growth in both gamer and creator peripherals and gaming components and systems segments.
Key Takeaways
Corsair Gaming, Inc. announced preliminary financial results for Q4 2020, featuring a 70.4% year-over-year increase in net revenue to $556.3 million. The company also reported a significant rise in gross profit, operating income, and net income, with adjusted EBITDA margin improving by 430 basis points year-over-year.
Net revenue increased by 70.4% year-over-year, reaching $556.3 million.
Gamer and creator peripherals segment net revenue increased 104.0% year-over-year to $191.8 million.
Gaming components and systems segment net revenue increased 56.8% year-over-year to $364.5 million.
Net income was $43.0 million, or $0.43 per diluted share, compared to $6.0 million, or $0.08 per diluted share, in the same period a year ago.
Revenue by Segment
Forward Guidance
For the full year 2021, Corsair expects net revenue to be in the range of $1.8 billion to $1.95 billion, adjusted operating income to be in the range of $205 million to $220 million, and adjusted EBITDA to be in the range of $215 million to $230 million.
Positive Outlook
- Net revenue to be in the range of $1.8 billion to $1.95 billion.
- Adjusted operating income to be in the range of $205 million to $220 million.
- Adjusted EBITDA to be in the range of $215 million to $230 million.
- Company guides continued growth for 2021
- Expect to continue to use operating cashflows to reduce our debt and continue to invest in growth.
Challenges Ahead
- 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, public offering related charges, depreciation and amortization, severance, IPO costs and other items.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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