Corsair Gaming, Inc. - CRSR STOCK NEWS

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.

Corsair (Nasdaq: CRSR) has announced a strategic partnership with TD SYNNEX, a major global IT distributor. This collaboration aims to enhance customer relations by delivering tailored solutions, superior customer support, and consistent communication to meet evolving needs. Matthew Droeg, Managing Director at Corsair for Business, highlighted that TD SYNNEX would help bring Corsair’s advanced products to business clients. Corsair for Business offers high-performance workstations, peripherals, and broadcasting tools, particularly suited for AI and high-computing applications. In addition, Corsair provides TAA-compliant products and market-leading Esports hardware, catering to enterprise, education, and public sector B2B IT channels. Scott Young, SVP of Product Management at TD SYNNEX, emphasized that this partnership will expand their vendor portfolio and enable customers to achieve more through technology.