Company Overview - Corsair Gaming is one of the largest global providers and innovators of high-performance products for gamers, streamers, content creators, gaming PC builders, and SIM driving enthusiasts [1] - The company has built a full ecosystem of products that work together to enhance performance for both casual gamers and committed professionals [2] Product Portfolio - Corsair's portfolio includes several brands such as Fanatec, Elgato, SCUF, Drop, and ORIGIN [2]

Core Insights - GCL Global Holdings Ltd reported a significant turnaround in FY2025, achieving net income and improved gross margins, primarily driven by the success of "Black Myth: Wukong" and an expanded game library [2][6][9]. Financial Performance - Revenues for FY2025 reached $142.1 million, marking a 45.7% increase from $97.5 million in FY2024 [3][9]. - Gross margin improved to 15.0%, up from 13.7% in FY2024, reflecting higher profit margins from publishing and digital sales [3][9]. - Net income was $5.0 million, a 350% increase compared to a net loss of $2.0 million in FY2024 [6][9]. - EBITDA for FY2025 was $10.8 million, representing a 980% increase from $1.0 million in the previous year [6][9]. Cost Structure - Cost of revenues increased to $120.8 million, a 43.5% rise from $84.2 million in FY2024 [4][9]. - Selling and marketing expenses remained stable at $2.6 million, indicating improved efficiency [4]. - General and administrative expenses rose by 17.8% to $15.4 million, reflecting investments in personnel and infrastructure [5]. Strategic Developments - The acquisition of Ban Leong Technologies is expected to enhance GCL's financial position and integrate hardware, software, and IP [3][11]. - GCL is building a robust pipeline of new game releases, focusing on the Asian gaming market [12][15]. Balance Sheet Highlights - As of March 31, 2025, GCL had $21.4 million in cash and restricted cash, up from $4.3 million a year earlier [10].