Question-and-Answer SessionSo maybe, Thi, if we start with you, pretty new to the CEO role, too still. So talk a little bit about kind of strategic vision and kind of lessons learned so far in key focus areas.Thi LaCEO, President, COO & Director Yes. So my vision for the company is to evolve Corsair and now house of brands from a premium hardware company into an enthusiast lifestyle platform that supports gaming, streaming, content creation SIM sports and also productivity and we are looking at building out ...

Summary of Corsair Gaming FY Conference Call Company Overview - **Company**: Corsair Gaming (NasdaqGS:CRSR) - **Date**: December 10, 2025 - **Speakers**: T. Law (CEO), Gordon Mattingly (CFO) Core Industry Insights - **Industry Focus**: Gaming, streaming, content creation, and productivity - **Market Dynamics**: Corsair is transitioning from a premium hardware company to an enthusiast lifestyle platform, emphasizing an ecosystem of hardware, software, and services [3][26] Strategic Vision and Priorities - **Vision**: Evolve into an enthusiast lifestyle platform supporting various sectors including gaming and streaming [3] - **Key Priorities**: 1. **Margin Acceleration**: Focus on high-margin product families and optimizing product mix [4] 2. **Operational Discipline**: Leverage AI for scaling and managing operational expenses (OPEX) [4] 3. **Direct-to-Consumer Growth**: Expand the direct-to-consumer business model [4] 4. **Revenue Platform Scaling**: Increase recurrent revenue through Elgato products and marketplace [4][32] 5. **Market Share Expansion**: Accelerate innovation and product cadence to capture market share [5] Financial Performance and Market Position - **Recent Performance**: Corsair is gaining market share, particularly in the components and gaming peripherals sectors [5] - **Investment in Underserved Markets**: Focus on growth in Asia and Latin America, showing promising year-on-year growth [6] M&A Strategy - **M&A as Growth Strategy**: Corsair will continue to evaluate M&A opportunities for channel acquisition and complementary brands [6] Product and Market Dynamics - **Product Segments**: Growth in Elgato streaming products and gaming peripherals, independent of memory market fluctuations [12] - **Consumer Behavior**: Shift in spending towards accessories as consumers face budget constraints for building PCs [12] - **Gaming and Peripheral Upgrade Cycles**: New gaming titles and platforms drive demand for upgrades in GPUs and peripherals [20][22] Challenges and Opportunities - **Supply Chain Issues**: Tariffs and semiconductor shortages are impacting the market, but Corsair's established manufacturing capabilities position it favorably [11][12] - **Promotional Activity**: Limited discounts due to tight inventory and tariff situations, with Corsair managing inventory effectively [15][19] Future Growth Drivers - **SIM Racing Market**: Projected to be a $1 billion total addressable market (TAM) in 2024, with double-digit growth expected [23] - **AI Integration**: Corsair is exploring AI applications for both internal operations and product offerings, including AI workstations [24][25] Transition to Recurring Revenue Models - **Recurring Revenue Opportunities**: The Elgato marketplace is a key area for growth, with over two million active users [32] - **Consumer SaaS Potential**: Exploring vertical solutions and partnerships to enhance offerings [32] Conclusion - Corsair Gaming is strategically positioned to leverage its strengths in the gaming and streaming markets while navigating current challenges. The focus on transitioning to a lifestyle platform and enhancing recurring revenue models presents significant growth opportunities moving forward.

"Company†), a leading global provider and innovator of high-performance products for gamers, streamers, content-creators, gaming PC builders, and SIM driving enthusiasts, today announced it will present to institutional investors at Barclays Global Technology Conference 2025, on Wednesday, December 10, 2025, at The Palace Hotel in San Francisco. A live fireside webcast with management will be available thro. MILPITAS, Calif.--(BUSINESS WIRE)--Corsair Gaming, Inc. (Nasdaq: CRSR) ("Corsair†or the ...

Group 1 - U.S. stocks experienced an upward trend, with the Dow Jones increasing by approximately 300 points on Friday [1] - Micron Technology, Inc. shares rose sharply by 2.5% to $235.92, driven by positive sentiment following Dell's strong third-quarter earnings and guidance [1] - Investors perceive Dell's results as indicative of broader strength in the technology sector, contributing to Micron's stock performance [1] Group 2 - DeFi Technologies Inc. shares surged by 20.5% to $1.6750 after the approval of QCAD as Canada's first compliant CAD stablecoin [3] - YD Bio Ltd saw a 13.7% increase in shares to $11.96, following the announcement of 510(k) clearance and plans for a clinical trial in Taiwan [3] - Other notable gainers included Savara Inc. (+12.3% to $6.02), TMC the metals company Inc. (+12.2% to $6.54), and ImmunityBio, Inc. (+10.7% to $2.3586) [3] - Precious metals stocks, including First Majestic Silver Corp. (+8.3% to $14.64) and Endeavour Silver Corp. (+10% to $9.47), rose amid increasing gold and silver prices [3] - Intel Corporation shares jumped by 7.8% to $39.65, reflecting positive market trends [3] - Crypto-linked stocks, such as Applied Digital Corporation, gained 6.8% to $26.61, following Bitcoin's rise above $90,000 [3]

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Core Insights - Corsair Gaming, Inc. will present at the UBS Global Technology and AI Conference on December 3, 2025, focusing on its financial results and growth opportunities [1][2] - The company has appointed Gordon Mattingly as the new Chief Financial Officer effective December 2, 2025, as part of its long-term growth strategy [5] - Corsair reported a 14% increase in revenue to $345.8 million and a 34% increase in gross profit to $93.1 million for Q3 2025 compared to Q3 2024 [7] Company Overview - Corsair is a leading global developer and manufacturer of high-performance products for gamers, content creators, and PC enthusiasts, offering a full ecosystem of products [3] - The company operates under several brands, including Fanatec, Elgato, SCUF Gaming, Drop, and ORIGIN PC, catering to various segments within the gaming and content creation markets [3] Financial Performance - For Q3 2025, Corsair's revenue reached $345.8 million, marking a 14% increase from the previous year [7] - The gross profit for the same period was $93.1 million, reflecting a 34% increase compared to Q3 2024 [7]

Core Insights - The article emphasizes the investment philosophy focused on small cap companies, highlighting the importance of identifying mispriced securities through understanding financial drivers and utilizing DCF model valuation [1]. Group 1 - The investment strategy is not confined to traditional categories such as value, dividend, or growth investing, but rather considers all prospects of a stock to assess risk-to-reward [1].

Core Points - U.S. stock futures are lower, with Dow futures falling over 50 points [1] - Super Micro Computer Inc reported disappointing first-quarter results, with earnings of 35 cents per share, missing the consensus estimate of 40 cents, and revenue of $5.01 billion, below the expected $5.99 billion [2] - Super Micro's revenue decreased from $5.93 billion in the same period last year [2] - The company's shares fell 9.2% to $43.12 in pre-market trading [2] Company-Specific Movements - Biohaven Ltd experienced a significant drop of 46.2% to $7.51 after receiving an FDA Complete Response Letter for VYGLXIA [4] - Trex Company Inc declined 31.9% to $32.02 following worse-than-expected third-quarter results and lowered FY25 sales guidance [4] - Soleno Therapeutics Inc fell 22.2% to $49.65 after reporting third-quarter results [4] - Axon Enterprise Inc's shares dropped 19.6% to $567.50 after mixed third-quarter results and an acquisition announcement [4] - Pinterest Inc dipped 18.8% to $26.69 after posting disappointing third-quarter earnings [4] - SSR Mining Inc fell 17.5% to $17.90 after its third-quarter results [4] - Uniqure NV's shares decreased by 15.8% to $25.61 after a prior gain [4] - Clover Health Investments Corp fell 15.5% to $2.97 after mixed third-quarter results [4] - Upstart Holdings Inc declined 15.3% to $39.15 after mixed results and lowered FY25 guidance [4] - Corsair Gaming Inc fell 12.4% to $6.59 following worse-than-expected third-quarter results [4] - Advanced Micro Devices, Inc. declined 5% to $237.80 despite reporting better-than-expected third-quarter results and projecting fourth-quarter revenue of approximately $9.6 billion [4]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - SMX (Security Matters) Public Limited Company (SMX) increased by 52% to $2.24 [3] - Entravision Communications Corporation (EVC) rose by 33% to $2.66 [3] - Babcock & Wilcox Enterprises, Inc. (BW) saw a 28% increase to $4.79 [3] - NeuroPace, Inc. (NPCE) gained 24% reaching $11.71 [3] - Kennedy-Wilson Holdings, Inc. (KW) also increased by 24% to $9.30 [3] - Rigel Pharmaceuticals, Inc. (RIGL) rose by 22% to $34.72 [3] - Digital Turbine, Inc. (APPS) increased by 21% to $7.20 [3] - Lumentum Holdings Inc. (LITE) saw a 15% increase to $218.06 [3] - AsiaStrategy (SORA) rose by 14% to $3.63 [3] - Marine Petroleum Trust (MARPS) increased by 7% to $5.05 [3] Premarket Losers - Biohaven Ltd. (BHVN) decreased by 42% to $7.96 [4] - Trex Company, Inc. (TREX) fell by 34% to $30.65 [4] - Soleno Therapeutics, Inc. (SLNO) saw a 23% decline to $49.00 [4] - Axon Enterprise, Inc. (AXON) decreased by 19% to $572.00 [4] - Clover Health Investments, Corp. (CLOV) fell by 19% to $2.82 [4] - Pinterest, Inc. (PINS) decreased by 18% to $26.91 [4] - SSR Mining Inc. (SSRM) saw a 17% decline to $17.91 [4] - Upstart Holdings, Inc. (UPST) decreased by 16% to $38.81 [4] - WF International Limited (WXM) fell by 12% to $2.25 [4] - Corsair Gaming, Inc. (CRSR) decreased by 11% to $6.66 [4]

Financial Data and Key Metrics Changes - Q3 2025 net revenue increased 14% to $345.8 million compared to $304.2 million in Q3 2024 [9] - For the first nine months of 2025, net revenue increased 15% to $1.04 billion from $902.8 million in the year-ago period [9] - Overall gross profit in Q3 increased 33.6% to $93.1 million compared to $69.7 million in Q3 2024 [11] - Third quarter adjusted EBITDA increased 236% to $16.2 million compared to $4.8 million in Q3 2024 [13] Business Line Data and Key Metrics Changes - Gamer and creator peripheral segment revenue was $112.7 million in Q3 2025 compared to $102 million in Q3 2024 [10] - Gaming components and systems segment revenue was $233.1 million in Q3 2025 compared to $202.2 million in Q3 2024 [10] - Memory products contributed $117.2 million in Q3 2025 compared to $97 million in Q3 2024 [10] Market Data and Key Metrics Changes - European markets contributed 40% of Q3 2025 revenues compared to 34% in Q2 2025 [9] - APAC region accounted for 13% of Q3 2025 revenues compared to 14% in Q2 2025 [9] - North American market growth was single digits, slower than Europe and Asia which grew double digits [32] Company Strategy and Development Direction - The company is focused on executing its business strategy and building smarter products faster for gamers, creators, and professionals [8] - Corsair is expanding its product roadmap and global reach through M&A integration [6] - The company sees sim sports as a multi-year growth driver with more products in development for 2026 and beyond [8] Management's Comments on Operating Environment and Future Outlook - Management noted that consumer spending patterns are shifting, with a delay in increased spending for gaming peripherals expected into Q4 and 2026 [19] - The company is tempering expectations for the DDR5 memory market due to tightness expected to last into the first half of next year [22] - Despite unforeseen tariff costs, Corsair delivered meaningful margin progress through agile supply chain management and disciplined spending [16] Other Important Information - The company ended Q3 with a cash balance of $65.8 million and $123.4 million of debt at face value [14] - Full year 2025 net revenue is expected to be in the range of $1.425 billion to $1.475 billion [14] Q&A Session Summary Question: Insights on consumer spending patterns - Management indicated that consumer spending on DIY components and systems began to increase in Q3, with a delay in spending for gaming peripherals expected [19][20] Question: Visibility into the tight memory market - Management noted that DDR5 memory tightness is expected to last into the first half of next year, and they have already taken action to mitigate this [22] Question: Clarification on tariff costs - Management confirmed that the $12 million in tariff costs is unmitigated, but they have managed to mitigate most of the impact [26][30] Question: North American market performance - Management acknowledged that North America is growing slower than Europe and Asia, but Corsair is performing better than the market overall [32] Question: Performance of Elgato products - Management reported double-digit growth for Elgato capture cards and Stream Deck, particularly due to the success of the Nintendo Switch 2 [35] Question: Divergence in growth rates - Management explained that the gaming components and systems segment growth is influenced by game releases and that they expect future titles like GTA 6 to drive hardware sales [40][41] Question: Sim racing opportunity post-Fanatec acquisition - Management expressed excitement about the Fanatec opportunity, including expanding product roadmaps and entering new categories [44][45]