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 over $100 million [4][14] - In Q4 2025, 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][15] Business Line Data and Key Metrics Changes - Gaming components and systems delivered strong double-digit growth for both the fourth quarter and the full year, driven by strength in memory and core components [15] - Gamer and Creator Peripherals delivered single-digit full-year growth, led by continued momentum in sim racing and creator products, while lower demand in North America resulted in a low single-digit revenue decline in Q4 [15] Market Data and Key Metrics Changes - Softer holiday demand was observed in North America for gaming peripherals, but stronger international performance was noted [6] - The company expects demand to improve in 2026, particularly with the anticipated launch of GTA 6 in Q4 [6] 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 acknowledges a conservative outlook for the Gaming Components and Systems segment due to semiconductor shortages, while expecting double-digit growth in the Gamer and Creator Peripherals segment [18] - The company has a strong position in the memory business and aims to continue 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 [10][15] Q&A Session Summary Question: Guidance and Market Visibility - The company has embedded conservatism in its guidance due to market conditions, particularly in the semiconductor space [23][24] Question: Components Margins - Components margins improved due to higher memory product prices and growth in sim racing, with expectations for sustainability [25][26] 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 tight conditions to persist for the next couple of years, but has strategies to manage inventory [50][51] Question: Elgato Recurring Revenue - The company is working on a recurring revenue model for Elgato, with over 2 million active users on the marketplace [60][61]

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]

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 over $100 million [4][13] - In Q4 2025, revenue increased 6% year-over-year to approximately $437 million, with gross profit increasing more than 30% year-over-year and adjusted EBITDA increasing more than 60% year-over-year [14][18] Business Line Data and Key Metrics Changes - Gaming components and systems delivered strong double-digit growth for both the fourth quarter and 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 Q4 [15][18] Market Data and Key Metrics Changes - Softer holiday demand was observed in North America for gaming peripherals, but stronger international performance was noted [6] - The company expects demand to improve in 2026, particularly with the anticipated launch of GTA 6 in Q4 [6] 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] Management's Comments on Operating Environment and Future Outlook - Management expressed a cautious outlook for the gaming component and systems segment due to the ongoing global semiconductor shortage, while maintaining a positive forecast for the peripherals segment [18] - The company is focused on margin expansion and operational discipline to navigate the tight semiconductor landscape [10][18] 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 opened its first retail store, designed to enhance consumer engagement and brand awareness [9] Q&A Session Summary Question: Guidance and Market Visibility - The management confirmed that the guidance includes a conservative outlook for the component segment due to semiconductor shortages, while expecting double-digit growth in the peripherals segment [22][24] Question: Components Margins - The strong components margins were attributed to higher memory product prices and growth in sim racing, with expectations for sustainability [25] Question: Memory Revenue - Memory revenue grew 24% year-over-year to $156 million, with a gross margin of 35% [32] Question: Semiconductor Situation - Management indicated that the semiconductor market will remain tight for the next couple of years, but they have strategies to acquire and produce inventory [50][51] 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]

DISCLAIMER FEBRUARY 12 t h 2026 INVESTOR PRESENTATION Forward Looking Statements This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company's financial outlook for the full year 2026, the market position and growth of the Company's various products; the growth and rate of growth of gaming and creator peripherals; future product launches; and the Company' ...

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.

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]

Financial Data and Key Metrics Changes - In Q2 2025, the company achieved a 23% year-over-year revenue growth, totaling $320 million, with EBITDA of $8.1 million, surpassing consensus expectations [4][14] - Gross profit increased by 36% year-over-year, reflecting improved margin performance across the portfolio, with gross margin rising to 26.8% from 24.1% in Q2 2024 [4][16] - The net loss attributable to common shareholders was $17 million, or $0.16 per diluted share, compared to a net loss of $29.6 million, or $0.28 per diluted share in Q2 2024 [19] Business Segment Data and Key Metrics Changes - The Gaming Components and Systems segment generated $217.5 million in revenue during Q2 2025, up from $167.1 million in Q2 2024, with memory products contributing $105 million [15] - The Gamer and Creator Peripheral segment revenue increased to $102.6 million in Q2 2025 from $94.2 million in Q2 2024, with gross margin improving to 40% from 37.9% [14][17] Market Data and Key Metrics Changes - The APAC region contributed 13.5% of total revenues in Q2 2025, up from 11.3% in Q1 2025, indicating growth in this market [14] - The company gained market share in both keyboard and headset categories, driven by new product launches and increased demand for system upgrades [5] Company Strategy and Development Direction - The company is focusing on three strategic priorities: accelerating new product innovation, margin expansion, and channel expansion in underserved markets like Asia and Latin America [12] - The integration of Fanatec branded sim racing products is a key initiative, with plans for new product releases in Q4 2025 [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in business fundamentals and reaffirmed the full-year 2025 net revenue outlook of $1.4 billion to $1.6 billion [23] - The company is actively managing tariff impacts and expects to mitigate new country-specific tariffs through various strategies [22] Other Important Information - The company ended Q2 with a cash balance of $107.5 million and reduced debt from approximately $550 million to $125 million since the IPO [20][21] - The company is committed to maintaining a healthy balance sheet while navigating new tariffs and expanding its product portfolio [21] Q&A Session Summary Question: What are the next steps for Fanatec to continue momentum? - The company has completed the integration phase and is now focusing on product roadmap expansion and increasing availability, with new products expected in Q4 2025 [27] Question: Does the commentary include the tariffs that went into effect today? - Yes, the commentary includes the new country-specific tariffs that went into effect, while the semiconductor tariff's impact remains uncertain [30][31]

Financial Data and Key Metrics Changes - The company reported strong growth in Q1, with significant improvements in gross margins, particularly in the Gaming Components and Systems segment, which reached the highest levels in two years [39][41] - The overall revenue growth is expected to continue, with a focus on maintaining low expenses to achieve higher EBITDA margins [58][62] Business Line Data and Key Metrics Changes - The components business experienced notable year-over-year growth, driven by the GPU launch cycle, while peripherals also saw growth, primarily due to the Fanatec acquisition [6][44] - The peripherals segment showed strong double-digit growth throughout 2024, although growth slowed slightly in Q1 compared to previous quarters [42][44] Market Data and Key Metrics Changes - The gaming market continues to expand, with younger demographics spending more time gaming, which supports the company's growth [10][24] - The acquisition of Fanatec is expected to enhance market share in the racing sim products sector, which has a total addressable market exceeding $1 billion [45][52] Company Strategy and Development Direction - The company is focusing on customization and AI integration in its products, aiming to enhance customer experience and product offerings [27][30] - The leadership transition to Tee La is anticipated to bring a stronger emphasis on customization and AI, leveraging her extensive experience within the company [26][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience to macroeconomic volatility, citing the ongoing GPU cycle as a significant tailwind [23][24] - The company is well-positioned to navigate tariff uncertainties, having already moved much of its production outside of China [16][19] Other Important Information - The company has a low net debt position and is focusing on growing revenue without significantly increasing expenses, which is expected to improve margins [62][63] - The integration of Fanatec into the company's systems has been completed, and there are plans to expand its market reach beyond direct-to-consumer sales [52][53] Q&A Session Summary Question: What impact have tariffs had on the business? - The company has minimized direct shipments from China, with only 19% of US products coming from there, and expects this to decrease to mid-single digits by year-end [16][17] Question: How does the company view its competitive position regarding sourcing? - The company believes it is in a better position than competitors due to its proactive measures in moving production out of China [20][21] Question: How resilient is the business to macroeconomic conditions? - Management noted that economic uncertainty often leads consumers to spend more time gaming at home, which can positively impact peripheral sales [24][25] Question: What changes can be expected under the new CEO? - Tee La is expected to emphasize customization and AI integration, building on her long-standing role within the company [26][28] Question: What is the outlook for the GPU cycle? - The GPU cycle is a significant driver for new PC builds, and the current launch is expected to spur additional revenue as demand exceeds supply [31][34] Question: How does the company plan to achieve higher EBITDA margins? - The strategy involves growing revenue while controlling expenses, particularly by focusing on higher-margin peripheral products [58][60]