Financial Data and Key Metrics Changes - For the full year 2025, revenue grew 12% to approximately $1.47 billion, gross profit increased 30% to approximately $426 million, and adjusted EBITDA grew more than 80% to approximately $101 million [4][14] - In the fourth quarter, revenue increased 6% year-over-year to approximately $437 million, gross profit increased more than 30% year-over-year, and adjusted EBITDA increased more than 60% year-over-year [14] Business Line Data and Key Metrics Changes - Gaming components and systems delivered strong double-digit growth for the full year, driven by strength in memory and core components [15] - Gamer and creator peripherals delivered single-digit full-year growth, with lower demand in North America leading to a low single-digit revenue decline in the fourth quarter [15] Market Data and Key Metrics Changes - Softer holiday demand was observed in North America for gaming peripherals, but stronger international performance was noted [7] - Memory revenue grew 24% year-over-year to $156 million, with a gross margin of 35% [32] Company Strategy and Development Direction - The company aims to improve the quality of growth through integrated platforms and innovation, focusing on higher margin gaming, sim racing, and creator categories [10] - Corsair plans to scale its direct-to-consumer business, which accounted for nearly 20% of revenue in 2025, with double-digit growth in web traffic and social engagement [11] - The opening of the first Corsair retail store is part of a strategy to deepen consumer engagement and grow brand awareness [9] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for the gaming component and systems segment due to the current global semiconductor shortage, while expecting double-digit growth in the gamer and creator peripherals segment [18] - The company believes it has a strong position in the memory business to navigate market challenges and is focused on acquiring inventory to support demand [33] Other Important Information - Corsair announced its first share repurchase authorization of up to $50 million, reflecting confidence in the attractiveness of its shares [16] - The company is focused on margin expansion through operational discipline and smart inventory management [15] Q&A Session Summary Question: Guidance and Market Visibility - The company has embedded conservatism in its guidance, particularly for the component segment due to semiconductor shortages [24] Question: Components Margins - Components margins improved year-on-year, primarily driven by higher memory product prices and growth in sim racing [25] Question: Memory Revenue - Memory revenue grew 24% year-over-year to $156 million, with a gross margin of 35% [32] Question: Semiconductor Situation - The company has visibility into the semiconductor market and expects it to remain tight for the next couple of years, but has strategies to acquire inventory [50] Question: Elgato Recurring Revenue - The company is working on a recurring revenue model for Elgato, with over 2 million active users on its marketplace [60]

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]