Corsair Gaming (CRSR) investor relations material

Executive summary

• Achieved record first quarter gross margin of 32.7% and strong profit growth, with net income up $23.4 million year-over-year and adjusted EBITDA up 58%, exceeding guidance.

• Revenue reached $354.5 million, above the midpoint of guidance, driven by 10% year-over-year growth in Gamer and Creator Peripherals, partially offset by a 10% decline in Gaming Components and Systems due to industry headwinds.

• Net income was $13.1 million, a turnaround from a net loss of $10.3 million in the prior year period.

• Cash and restricted cash increased to $119.7 million, with $29.7 million generated from operations in the quarter, supporting investment and capital returns.

• Repurchased approximately $5 million in shares under the $50 million buyback program.

Financial highlights

• Q1 2026 revenue was $354.5 million, down 4% year-over-year; gross profit rose 13% to $116.0 million, and gross margin expanded 500 basis points to a record 32.7%.

• Adjusted EBITDA grew 58% year-over-year to $35.8 million (10.1% of revenue), marking a second consecutive quarter of double-digit margin.

• GAAP EPS was $0.11 and non-GAAP EPS was $0.27, compared to a loss in the prior year.

• Operating income improved to $13.8 million from a loss of $2.3 million in the prior year.

• Cash and restricted cash: $119.7 million, up from $98.6 million at year-end.

Outlook and guidance

• Q2 2026 net revenue expected between $295 million and $320 million; adjusted EBITDA between $12.5 million and $15.5 million; non-GAAP EPS between $0.05 and $0.07.

• Revenue expected to decline about 4% year-over-year at the midpoint, with low-teens growth in Peripherals offset by cautious outlook for Components and Systems.

• Full-year 2026 guidance reaffirmed: net revenue of $1.33–$1.47 billion, adjusted EBITDA of $100–$115 million, non-GAAP EPS of $0.58–$0.74.

• Management expects mid-cycle demand conditions in 2026, with potential hardware refreshes and major software titles anticipated for late 2026 and 2027.