Corsair Gaming, Inc. Q4 FY2025 earnings call

• Highlights: Closed 2025 with strong execution, revenue growth, margin expansion. Welcomed new CFO Michael G. Potter. CES 2026 showcase with successful launches like Stream Deck and Galleon 100 SD. Opened first retail store. - Priorities for 2026: 1. Improve quality of growth through mix, integrated platforms, and innovation. 2. Drive margin expansion through operational discipline and creator marketplace. 3. Scale direct-to-consumer business to deepen engagement.

Gaming Components and Systems: Full year revenue grew, led by memory and core components. Fourth quarter revenue increased 6% year over year. Gamer and Creator Peripherals: Full year growth driven by sim racing and creator products. Softer holiday demand in North America in fourth quarter, but stronger international performance. Revenue contribution details not explicitly given in absolute % but discussed in terms of growth drivers.

• Full year 2026 net revenue expected to be in range $1,330,000,000 - $1,470,000,000, adjusted EBITDA $100,000,000 - $115,000,000, non-GAAP EPS $0.58 - $0.74 per share. - Q1 2026 net revenue expected to be in range $335,000,000 - $365,000,000, adjusted EBITDA $25,000,000 - $30,000,000, non-GAAP EPS $0.18 - $0.22 per share. - Guidance reflects 5% decrease in revenue year over year for assumed midpoint, with double-digit growth in gamer and creative peripheral segment offset by cautious outlook for gaming components and systems due to semiconductor shortage.

• Semiconductor supply constraints affecting the gaming components and systems segment. - Broader market uncertainties that could impact revenue projections and guidance.

Q: Asked about conservatism in guidance and confidence in 2026 guidance.

A: Michael G. Potter stated they are taking a conservative outlook for the components segment due to semiconductor shortages, with the guidance range reflecting how that plays out.

Q: Asked about components margins and sustainability.

A: Thi La mentioned memory contributed to margin lift in the quarter, with benefits from sim racing growth and mix shift, and discussed future margin sustainability considerations.

Q: Asked about Elgato growth, organic vs M&A, gross margin.

A: Thi La said growth in peripherals is from organic investment, evaluating M&A opportunities, and D2C business helps with consumer engagement and margin control.