CRSR

MKT CAP:$702M

Corsair Gaming, Inc.

Market Cap

$702M

Technology·Computer Hardware·🇺🇸 United States·NASDAQ

Technology·Computer Hardware·🇺🇸·NASDAQ

Stock Price

$6.50+$0.48 (+7.89%)

Apr 17, 2026

Company Details

Corsair Gaming, Inc., together with its subsidiaries, designs, markets, and distributes gaming and streaming peripherals, components and systems in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers gamer and cr...

CEO

Thi L. La

IPO Date

Sep 23, 2020

Website

www.corsair.com

Key Metrics TTM

Revenue

$1.6B

-19.7% YoY

Net Income

-$23M

EPS (Diluted)

-$0.28

Free Cash Flow

$30M

Revenue / Share

$15.29

Gross Margin

24.8%

Operating Margin

1.3%

Net Margin

-1.4%

FCF Margin

1.9%

P/S

0.4x

P/E

—

Earnings Reports

Q1 2025

May 5, 2026

PENDING

FY 2025

Feb 24, 2026

$1.5BEPS -$0.12

Q4 2024

Feb 26, 2025

$414MEPS $0.01

Q3 2024

Nov 6, 2024

$304MEPS -$0.56

FY 2022

Feb 27, 2023

$1.4B-27.8%EPS -$0.63

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 18	$209M	$47M	$2M
Q3 18	$218M	$50M	$5M
Q1 19	$245M	$48M	$378.0K
Q2 19	$241M	$46M	-$2M
Q3 19	$284M	$60M	$11M
Q4 19	$327M	$70M	$14M
Q1 20	$309M	$79M	$13M
Q2 20	$380M	$105M	$36M
Q3 20	$457M	$128M	$50M
Q4 20	$556M	$154M	$59M
Q1 21	$529M	$160M	$67M
Q2 21	$473M	$130M	$35M
Q3 21	$391M	$101M	$11M
Q4 21	$511M	$122M	$25M
Q3 24	$304M	$70M	-$21M
Q4 24	$414M	$108M	$6M

Valuation

Quarter	P/S	P/E
Q2 18	0.8x	48.2x
Q3 18	0.8x	432.9x
Q1 19	0.8x	—
Q2 19	0.8x	—
Q3 19	0.7x	—
Q4 19	0.6x	—
Q1 20	0.6x	533.6x
Q2 20	0.5x	22.4x
Q3 20	0.5x	10.6x
Q4 20	0.4x	6.8x
Q1 21	0.4x	4.7x
Q2 21	0.3x	4.6x
Q3 21	0.4x	5.9x
Q4 21	0.4x	7.0x
Q3 24	0.4x	277.7x
Q4 24	0.4x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 18	$24M	$22M
Q3 18	-$25M	-$28M
Q1 19	-$12M	-$15M
Q2 19	$15M	$13M
Q3 19	-$2M	-$4M
Q4 19	$36M	$34M
Q1 20	$2M	$153.0K
Q2 20	$74M	$72M
Q3 20	$25M	$23M
Q4 20	$69M	$65M
Q1 21	$28M	$26M
Q2 21	$32M	$29M
Q3 21	-$34M	-$37M
Q4 21	-$5M	-$8M
Q3 24	$25M	$22M
Q4 24	$56M	$54M

Capital Expenditures

Quarter	CapEx
Q2 18	$2M
Q3 18	$2M
Q1 19	$3M
Q2 19	$2M
Q3 19	$2M
Q4 19	$2M
Q1 20	$2M
Q2 20	$1M
Q3 20	$2M
Q4 20	$4M
Q1 21	$2M
Q2 21	$3M
Q3 21	$3M
Q4 21	$3M
Q3 24	$3M
Q4 24	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 18	+25.6%	+31.8%
Q1 19	-3.2%	-3.8%
Q2 19	-0.3%	+4.0%
Q3 19	+35.9%	+31.8%
Q4 19	+49.7%	+46.3%
Q1 20	+25.7%	+20.5%
Q2 20	+57.9%	+41.7%
Q3 20	+60.7%	+49.0%
Q4 20	+70.4%	+59.3%
Q1 21	+71.6%	+56.6%
Q2 21	+24.3%	+27.4%
Q3 21	-14.4%	-6.6%
Q4 21	-8.2%	-2.4%
Q3 24	-42.5%	-29.6%
Q4 24	-12.5%	-7.0%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 18	$524.0K	0.3%
Q3 18	$806.0K	0.4%
Q1 19	$869.0K	0.4%
Q2 19	$1M	0.4%
Q3 19	$867.0K	0.3%
Q4 19	$1M	0.3%
Q1 20	$1M	0.4%
Q2 20	$2M	0.4%
Q3 20	$2M	0.4%
Q4 20	$2M	0.3%
Q1 21	$3M	0.6%
Q2 21	$5M	1.0%
Q3 21	$6M	1.5%
Q4 21	$0	0.0%
Q3 24	$7M	2.4%
Q4 24	$7M	1.8%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 18	$7M	$8M	$30M	—
Q3 18	$9M	$8M	$29M	—
Q1 19	$10M	$36M	$3M	—
Q2 19	$9M	—	—	$38M
Q3 19	$9M	—	—	$40M
Q4 19	$9M	—	—	$47M
Q1 20	$12M	—	—	$54M
Q2 20	$12M	—	—	$57M
Q3 20	$13M	—	—	$65M
Q4 20	$14M	—	—	$81M
Q1 21	$15M	—	—	$78M
Q2 21	$15M	—	—	$80M
Q3 21	$14M	—	—	$76M
Q4 21	$15M	—	—	$82M
Q3 24	$17M	—	—	$74M
Q4 24	$17M	$61M	$24M	—

Revenue Segments

Quarter	Gamer And Creator Peripherals	Gaming Components And Systems
Q3 20	$162M	$296M
Q4 20	$192M	$365M
Q1 21	$176M	$354M
Q2 21	$155M	$318M
Q3 21	$139M	$252M
Q4 21	$177M	$334M
Q3 24	$102M	$202M
Q4 24	$170M	$244M

Revenue by Geography

Quarter	Americas	Asia Pacific	Europe And Middle East
Q3 20	$217M	$78M	$163M
Q4 20	$258M	$86M	$212M
Q1 21	$226M	$78M	$225M
Q2 21	$191M	$94M	$188M
Q3 21	$189M	$54M	$148M
Q4 21	$235M	$102M	$174M
Q3 24	$156M	$31M	$117M
Q4 24	$219M	$38M	$157M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$29M	$0	$29M
Q2 22	$36M	$0	$36M
Q3 22	$57M	$0	$57M
Q4 22	$151M	$0	$151M
Q1 23	$179M	$0	$179M
Q2 23	$181M	$0	$181M
Q3 23	$145M	$0	$145M
Q4 23	$176M	$0	$176M
Q1 24	$130M	$0	$130M
Q2 24	$94M	$0	$94M
Q3 24	$59M	$0	$59M
Q4 24	$107M	$0	$107M
Q1 25	$100M	$0	$100M
Q2 25	$105M	$0	$105M
Q3 25	$66M	$0	$66M
Q4 25	$99M	$0	$99M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 18	150M	-0.6%	—
Q3 18	151M	+0.4%	+24.5%
Q1 19	152M	+0.8%	+1.2%
Q2 19	152M	-0.0%	+0.5%
Q3 19	92M	-39.5%	-38.8%
Q4 19	0	-100.0%	-100.0%
Q1 20	92M	—	-39.5%
Q2 20	92M	0.0%	-39.5%
Q3 20	90M	-1.9%	-1.9%
Q4 20	100M	+10.8%	—
Q1 21	100M	+0.4%	+9.1%
Q2 21	100M	-0.1%	+9.0%
Q3 21	100M	-0.0%	+11.1%
Q4 21	100M	-0.4%	-0.1%
Q3 24	104M	+4.8%	+4.2%
Q4 24	106M	+1.5%	+5.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 18	—	—
Q3 18	—	—
Q1 19	—	—
Q2 19	—	—
Q3 19	—	—
Q4 19	—	—
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	$230.8K	2K
Q1 21	$219.6K	2K
Q2 21	$196.1K	2K
Q3 21	$162.2K	2K
Q4 21	$205.1K	2K
Q3 24	$127.4K	2K
Q4 24	$161.1K	3K

Revenue / Employee