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Dec 31, 2023
Corsair Q4 2023 Earnings Report
Corsair reported Q4 2023 financial results, with a 16% YoY revenue growth in Gamer and Creator Peripherals and 6% growth in total FY23 revenue.
Key Takeaways
Corsair Gaming, Inc. announced its Q4 and full year 2023 financial results, showing a 16% year-over-year increase in Gamer and Creator Peripherals revenue for Q4 2023. The company's overall performance for the full year was also strong, with overall growth of 11% in the last three quarters of 2023.
Net revenue was $417.3 million, compared to $398.7 million in Q4 2022.
Net income attributable to common shareholders was $6.2 million, or $0.06 per diluted share, compared to net income of $12.5 million, or $0.12 per diluted share, in Q4 2022.
Adjusted net income was $23.2 million, or $0.22 per diluted share, compared to $20.7 million, or $0.20 per diluted share, in Q4 2022.
Adjusted EBITDA was $33.7 million, compared to $32.0 million in Q4 2022.
Revenue by Segment
Forward Guidance
Corsair’s financial outlook reflects cautious optimism. Corsair expects revenue growth to improve through 2024, with a further improvement in adjusted EBITDA led by an additional improvement in margin, stabilized shipping costs and continued tight operating expense controls.
Positive Outlook
- Net revenue to be in the range of $1.45 billion to $1.60 billion.
- Adjusted operating income to be in the range of $92 million to $112 million.
- Adjusted EBITDA to be in the range of $105 million to $125 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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