Q4 2024 Corsair Gaming Inc Earnings Call Transcript
Key Points
- Corsair Gaming Inc (CRSR) reported strong Q4 revenue of $414 million and adjusted EBITDA of $33 million, indicating robust financial performance.
- The integration of the Fanatec sim racing company is progressing well, expected to drive positive revenue and EBITDA growth.
- The gaming and creative business grew by 20% year-on-year, with the Fanatec acquisition accelerating growth in Q4.
- The Elgato product line, particularly the Stream Deck, is performing exceptionally well, creating a new category in the market.
- Corsair's partnerships with major brands like Activision and Apple have increased brand awareness and sales volumes.
- Full-year 2024 net revenue decreased to $1,316.4 million from $1,459.9 million in 2023, indicating a decline in overall sales.
- The gaming components and systems segment saw a decrease in revenue, contributing $244.1 million in Q4 2024 compared to $280.5 million in Q4 2023.
- Fourth-quarter GAAP operating income dropped to $5.9 million from $12.1 million in Q4 2023, reflecting reduced profitability.
- Net income attributable to common shareholders was only $1.3 million in Q4 2024, a significant drop from $6.2 million in Q4 2023.
- The company faces challenges from tariffs, although mitigation strategies are in place, which could impact future costs and pricing.
Good afternoon and welcome to Corsair Gaming's fourth-quarter and full-year 2024 earnings conference call. As a reminder, today's call is being recorded and your participation implies consent to such recording. (Operator Instructions)
With that, I would now like to turn the call over to Ronald van Veen, Corsair's Vice President of Finance and Investor Relations. Thank you. Sir, please begin.
Thank you. Good afternoon, everyone, and thank you for joining us for Corsair's financial results conference call for the fourth quarter and full year ended December 31, 2024. On the call today, we have Corsair's CEO, Andy Paul; Thi La, currently Corsairâs President and Chief Operating Officer, and Chief Executive Officer effective July 1, 2025; and CFO, Michael Potter.
Andy will review highlights from the quarter followed by Thi, and Michael will then review the financials and our outlook. We will then have time for any questions.
Before we begin, allow me to
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