Q4 2025 Corsair Gaming Inc Earnings Call Transcript
Key Points
- Corsair Gaming Inc (CRSR) reported a 12% increase in full-year revenue to approximately $1.47 billion.
- Gross profit increased by 30% to approximately $426 million, with adjusted EBITDA rising over 80% to about $101 million, exceeding guidance.
- The company showcased a strong product lineup at CES 2026, receiving positive feedback, particularly for the Streamdeck and Galleon 100 SD keyboard.
- Corsair Gaming Inc (CRSR) opened its first immersive retail store, which has seen strong demand and healthy traffic.
- The company is focusing on margin expansion through operational discipline and smart inventory management, aiming to improve cash flow.
- There was softer holiday demand in North America for gaming peripherals, although this was offset by stronger international performance.
- The company is facing challenges due to the global semiconductor shortage, impacting the gaming components and systems segment.
- Guidance for 2026 reflects a cautious outlook with a potential 5% decrease in revenue year over year.
- The company is experiencing tariff headwinds, which are expected to impact gross margins by approximately $12 million year over year.
- Despite strong components margins, the sustainability of these margins is uncertain due to fluctuating memory prices.
(technical difficulty) Continue to upgrade their performance PCs. Corsair strategically invested in memory inventory to protect consumer demand, despite broader market concern about semiconductor supply constraints.
In gamer and creator peripherals, we delivered full year growth driven by demand from both creators and sim racing enthusiasts.
Fatech and Elgato were important contributors, and both brands continued to strengthen their position in their respective markets.
In line with the broader market, we did see softer holiday demand in North America in gaming peripherals, offset by stronger international performance.
We expect demand to improve as we move through 2026, especially with the highly anticipated GTA 6 launch in Q4.
Fatetech in particular is integrating extremely well. During 2025, we strengthened Fatech's operations, improved quality and support, and advanced our roadmap with technologies that raised the bar for performance and usability.
Product availability has improved, channel engagement is increasing,
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