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]