Welcome to our dedicated page for Corsair Gaming news (Ticker: CRSR), a resource for investors and traders seeking the latest updates and insights on Corsair Gaming stock.
Company Overview
Corsair Gaming, Inc. (CRSR) is widely recognized for its commitment to excellence in the provision of high-performance gear, computer peripherals, and components specifically tailored for gamers, content creators, and PC enthusiasts. With a rich heritage dating back to 1994, Corsair has evolved from pioneering the high-performance DRAM market to developing a diverse product portfolio that caters to both performance demands and immersive user experiences.
Core Business and Product Portfolio
The company operates through two primary segments: Gamer and Creator Peripherals and Gaming Components and Systems. Its extensive range of products includes:
- PC Cases, Keyboards, Mice, and Headsets
- High-efficiency Power Supplies
- Gaming Computers and Chairs
- Mousepads and Other Accessories
These product categories not only serve the enthusiast and professional gamer communities but also support a broader market of content creators and technology aficionados. The integration of innovative design with robust engineering assures a consistent consumer experience that prioritizes performance, reliability, and aesthetic appeal.
Market Position and Industry Significance
Corsair Gaming, Inc. holds a significant position in the competitive landscape of computer hardware and gaming technology. The company leverages its longstanding expertise to continuously develop products that meet the evolving demands of high-end gaming, esports professionals, and content creators. The strategic emphasis on performance and durability helps Corsair differentiate itself by offering products that deliver an unmatched user experience. This balance of innovation and reliability has established the brand as a trusted name among discerning users who demand precision-engineered solutions.
Operational Excellence and Global Reach
With operations spanning across the Americas, Europe and the Middle East, and the Asia Pacific region, Corsair derives its revenue from a globally diversified market. This international presence not only enables the company to tap into various regional consumer preferences but also reinforces its stature as a major player in technology-driven performance components. Corsair’s operational strategy is marked by its focus on both direct consumer engagement and distribution partnerships, aimed at enhancing product accessibility and maintaining a robust market footprint.
Innovation and Technological Expertise
At the core of Corsair Gaming, Inc. lies a dedication to innovation and technological advancement. The company consistently integrates advanced engineering principles with cutting-edge design to address the dynamic needs of a tech-savvy audience. Whether it is through refining cooling systems, optimizing power efficiency, or enhancing the ergonomics of its peripherals, Corsair continually seeks to push the boundaries of performance-driven design. This proven commitment to innovation is a testament to the company’s resilience in an industry defined by rapid technological change.
Consumer and Industry Impact
The influence of Corsair extends beyond hardware; it is a brand synonymous with reliability and quality in the arena of high-performance computing. Enthusiasts and professionals alike rely on Corsair for building robust, efficient systems that support both gaming and content creation endeavors. The company’s focus on delivering products that combine functionality with aesthetic design has reinforced its reputation as a cornerstone in the PC gaming and computer technology sectors.
Looking at the Bigger Picture
By addressing the nuanced needs of different market segments, Corsair Gaming, Inc. has successfully carved a niche in an increasingly competitive industry. Its diverse product range is supported by a legacy of technological prowess and a forward-thinking approach that continues to define its operations. Whether through reinforcing existing product lines or introducing new innovations, Corsair remains devoted to the principles of quality, performance, and deep consumer understanding.
Corsair Gaming (CRSR) reported Q3 2024 financial results with net revenue of $304.2 million, down 16.2% from Q3 2023. The Gaming Components segment declined to $202.2 million, while Gamer and Creator Peripherals grew to $102.0 million. The company reported a net loss of $58.4 million ($0.56 per share), including a $32.5 million non-cash charge. Adjusted EBITDA was $4.8 million compared to $23.0 million in Q3 2023.
The company maintains its full-year 2024 revenue guidance of $1.25-1.35 billion but revised down its adjusted EBITDA outlook to $40-55 million from previous $60-75 million. The recent Fanatec acquisition is expected to contribute approximately $20 million in EBITDA-neutral revenue in Q4 2024.
Corsair Gaming (Nasdaq: CRSR) announced it will release its Q3 2024 financial results after Nasdaq market close on November 6, 2024. The company will host a conference call at 2:00 p.m. Pacific Time the same day to discuss the results and financial outlook. Investors can access the call through Corsair's IR website or by phone. A replay will be available for one week after the call through November 13, 2024.
CORSAIR (Nasdaq: CRSR) introduces the VIRTUOSO MAX gaming headset, available for both PC and Xbox. Key features include:
- 50mm Graphene drivers for clear, precise audio
- Dolby Atmos® spatial audio for immersive sound
- Active noise cancellation
- Sonarworks SoundID for personalized audio profiles
- Broadcast-grade omni-directional microphone
- Up to 60 hours of battery life
- 2.4GHz wireless and Bluetooth® connectivity
The headset offers comfort-driven design with memory foam ear cushions and a durable metal build. It's available immediately from CORSAIR's Webstore and soon from authorized retailers, backed by a two-year warranty.
CORSAIR (CRSR) has launched a multi-year, cross-brand collaboration with the Call of Duty franchise, introducing high-performance products across multiple categories. The partnership includes CORSAIR, Drop, Elgato, ORIGIN PC, and SCUF Gaming.
Key products released for Call of Duty: Black Ops 6 include:
- CORSAIR HS80 RGB WIRELESS gaming headset
- K65 PLUS WIRELESS gaming keyboard
- M75 WIRELESS gaming mouse
- VENGEANCE SERIES gaming PCs
- SCUF Gaming controllers for various platforms
- Elgato streaming equipment
- ORIGIN PC NEURON and EON16-X gaming PCs
These products feature custom Black Ops 6-themed aesthetics and are designed to enhance the gaming experience with cutting-edge hardware and superior build quality.
Corsair (CRSR) has completed the acquisition of the Fanatec Sim Racing brand from Endor AG, creating a leading end-to-end premium Sim Racing product line. The acquisition includes all associated personnel and assets. Fanatec is renowned for its high-quality force feedback steering wheels, wheelbases, pedals, shifters, and accessories for PlayStation, Xbox, and PC-based racing simulators.
Fanatec's product line complements Corsair's existing offerings in Sim Racing chassis, Gaming PCs, peripherals, and monitors. Endor reported Fanatec's 2023 product sales at approximately $110 million (unaudited). The Sim Racing components market is estimated at $1 billion with an expected 20% annual growth rate. Corsair aims to leverage its global sales network and supply chain to drive revenue growth and increase margins for the Fanatec product line.
CORSAIR (NASDAQ:CRSR) has announced an exclusive multi-year partnership with the Call of Duty® franchise. This collaboration will span across multiple CORSAIR product categories, including Drop, Elgato, ORIGIN PC, and SCUF Gaming. The partnership will debut with the launch of Call of Duty®: Black Ops 6 on October 25.
The integration aims to provide a complete and immersive experience for Call of Duty players across all platforms - PC, console, and mobile. The partnership will be showcased at TwitchCon in San Diego from September 20-22, 2024, where fans can see officially licensed CORSAIR products on display for the first time.
Andy Paul, Founder and CEO of CORSAIR, expressed enthusiasm about the collaboration, emphasizing the perfect fit between the two world-class brands. Will Gahagan, Senior Director of Partnerships at Activision, highlighted the partnership's potential to enhance the gaming experience for Call of Duty players.
Corsair (NASDAQ: CRSR) has announced the acquisition of the Fanatec Sim Racing brand from Endor AG, expected to close within the week. Fanatec, based in Landshut, Germany, produces high-end racing simulator accessories for PlayStation, Xbox, and PC. The brand reported approximately $110 million in product sales for 2023 (unaudited).
This strategic move accelerates Corsair's investment in the rapidly growing Sim Racing market, estimated at $1 billion with a 20% annual growth rate. Corsair plans to leverage its supply chain and logistics network to reduce operating costs and improve customer service. The company intends to maintain Fanatec's core business in Landshut while expanding its product development capabilities.
Elgato, a CORSAIR brand (NASDAQ: CRSR), has launched Stream Deck Studio, expanding its popular Stream Deck product line to professional broadcasters. Developed in collaboration with Bitfocus, this new offering features a 19-inch console with 32 customizable LCD keys and two rotary dials, designed for seamless integration into studio racks.
The device runs on Bitfocus' Companion software, with their latest Buttons software offering advanced functionalities. Priced at $899.99, Stream Deck Studio aims to streamline broadcast operations, offering complete customizability, intuitive design, and support for both legacy and modern protocols. This launch represents Elgato's strategic move to expand its addressable market in the professional broadcast sector.
Corsair Gaming (CRSR) reported Q2 2024 financial results, showing a 19.7% decrease in net revenue to $261.3 million compared to Q2 2023. The company experienced a net loss of $29.6 million, or $0.28 per diluted share. Adjusted EBITDA was a loss of $1.2 million. The Gaming Components and Systems segment saw a significant decline, while the Gamer and Creator Peripherals segment grew by 19.6% year-over-year.
CEO Andy Paul attributed the disappointing results to a softer-than-expected self-built PC market. The company expects a market refresh cycle to start later than initially anticipated, likely influenced by upcoming GPU launches and game releases. Corsair updated its 2024 outlook, projecting net revenue between $1.25 billion to $1.35 billion and adjusted EBITDA of $60 million to $75 million.
Corsair Gaming (NASDAQ: CRSR) has announced its Q2 2024 financial results will be reported on August 1, with preliminary unaudited revenue of approximately $261 million. The company faces challenges in the high-end gaming PC market due to consumers awaiting new GPU launches, partially offset by activity in the entry-level market. This has led to lower market ASPs for some component categories.
Despite disappointing results in the Gaming Components and Systems segment, Corsair expects recovery in H2 2024 and 2025. The Gamer and Creator Peripherals segment grew by 20% year-over-year for the third consecutive quarter, driven by new products like PC controllers, custom keyboards, and teleprompters. The gaming peripherals market shows growth, with U.S. market data indicating revenue approximately 75% higher compared to pre-Covid periods and up 5% from last year.
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