Corsair Gaming Incorporate recorded net revenue of $457.1 million, up 60.7% year over year, according to the company’s press release. Gamer and creator peripherals segment net revenue rose 128.8% to $161.6 million year over year. Gaming components and systems segment net revenue rose 38.3% to $295.5 million year over year.
- FY 2020 Outlook
- Corsair expects net revenues to range between $1,616 million to $1,631 million.
- Adjusted operating income to range between $178 million to $184 million
- Adjusted EBITDA to range between $187 million to $193 million
- Q3 Results Highlights
- Gross profit was $127.9 million, up 112.4% year over year, and a profit margin of 28.0%, up 680 basis points year over year.
- Operating income was $49.7 million, up 353.6% year over year.
- Adjusted operating income was $61.4 million, up 193.7% year over year.
- Net income was $36.4 million or $0.40 per diluted share, up from $1.5 million or $0.02 per diluted share a year ago.
- Adjusted net income was $48.5 million, or $0.54 per diluted share, up 384.0% year over year.
- Adjusted EBITDA was $63.7 million, up 184.9% year over year, and an adjusted EBITDA margin of 13.9%, a rise of 610 basis points year over year.
- Cash flow from operations was $24.7 million, up from $21 million in the same period a year ago.
Corsair’s stock is currently declining. CRSR: NASDAQ is down 5.05%
