CRSR FY 2020 Earnings Report — Corsair Gaming, Inc. Revenue & Financial Results | Market Cap Arena

Corsair Gaming, Inc.CRSR

FY 2020 Earnings

Reported March 11, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.1B	—	55.2%
Op. Income	$158M	—	$24M	—	568.0%
Gross Margin	27.3%	—	20.4%	—	6.9pp
Net Margin	6.1%	—	-0.8%	—	6.8pp
EPS (Diluted)	$1.14	—	$-0.09	—	1347.3%
Free Cash Flow	$160M	—	$28M	—	469.7%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.2B
GROSS PROFIT	$465M
R&D Expenses	$50M
Selling & Marketing	$19M
General & Administrative	$238M
SG&A Expenses	$257M
Other Expenses	$0
Operating Expenses	$307M
Cost & Expenses	$1.5B
OPERATING INCOME	$158M
Interest Income	$0
Interest Expense	$31M
Other Income/Expenses	-$36M
INCOME BEFORE TAX	$122M
Income Tax Expense	$19M
Net Income from Continuing Ops	$103M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$103M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$103M
D&A	$43M
EBIT	$153M
EBITDA	$196M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.2B
GROSS PROFIT	$465M
R&D Expenses	$50M
Selling & Marketing	$19M
General & Administrative	$238M
SG&A Expenses	$257M
Other Expenses	$0
Operating Expenses	$307M
Cost & Expenses	$1.5B
OPERATING INCOME	$158M
Interest Income	$0
Interest Expense	$31M
Other Income/Expenses	-$36M
INCOME BEFORE TAX	$122M
Income Tax Expense	$19M
Net Income from Continuing Ops	$103M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$103M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$103M
D&A	$43M
EBIT	$153M
EBITDA	$196M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$103M
Depreciation & Amortization	$43M
Stock-Based Compensation	$6M
Deferred Income Tax	-$7M
Other Non-Cash Items	$9M
Change in Working Capital	$15M
OPERATING CASH FLOW	$169M
Capital Expenditure	-$9M
Acquisitions (Net)	-$1M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$10M
Net Debt Issuance	-$191M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$7M
NET CASH FROM FINANCING	-$79M
FREE CASH FLOW	$160M
Net Change in Cash	$82M

Balance Sheet

Item	Amount
Cash & Equivalents	$130M
Short-Term Investments	$0
Net Receivables	$294M
Inventory	$226M
Other Current Assets	$4M
TOTAL CURRENT ASSETS	$691M
PP&E (Net)	$42M
Goodwill	$313M
Intangible Assets	$259M
Long-Term Investments	$0
Tax Assets	$5M
Other Non-Current Assets	$4M
TOTAL NON-CURRENT ASSETS	$623M
TOTAL ASSETS	$1.3B
Account Payables	$300M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$55M
TOTAL CURRENT LIABILITIES	$505M
Long-Term Debt	$321M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$30M
Other Non-Current Liabilities	$3M
TOTAL NON-CURRENT LIABILITIES	$371M
TOTAL LIABILITIES	$877M
Common Stock	$9.0K
Additional Paid-In Capital	$439M
Retained Earnings	-$3M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$437M
Minority Interest	$0
TOTAL EQUITY	$437M
TOTAL LIABILITIES & EQUITY	$1.3B
Total Debt	$348M
Net Debt	$218M