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May 5, 2021 10:23 am GMT
First Quarter 2021 Highlights
Original Link: https://www.techpowerup.com/281790/corsair-gaming-reports-record-first-quarter-2021-financial-results
(PR) CORSAIR Gaming Reports Record First Quarter 2021 Financial Results
Corsair Gaming, Inc. (NASDAQ:CRSR) ("Corsair"), a leading global provider and innovator of high-performance gear for gamers and content creators, today announced financial results for the first quarter ended March 31, 2021.First Quarter 2021 Highlights
- Net revenue was $529.4 million, an increase of 71.6% year-over-year. Gamer and creator peripherals segment net revenue was $175.9 million, an increase of 131.9% year-over-year. Gaming components and systems segment net revenue was $353.5 million, an increase of 51.9% year-over-year.
- Gross profit was $160.3 million, an increase of 103.9% year-over-year, with gross margin of 30.3%, an improvement of 480 basis points year-over-year. Gamer and creator peripherals segment gross profit was $68.9 million, an increase of 211.1% year-over-year. Gaming components and systems segment gross profit was $91.5 million, an increase of 61.9% year-over-year.
- Operating income was $67.3 million, an increase of 404.5% year-over-year.
- Adjusted operating income was $80.4 million, an increase of 221.4% year-over-year.
- Net income was $46.7 million, or $0.47 per diluted share, compared to net income of $1.2 million in the same period last year, or $0.01 per diluted share.
- Adjusted net income was $58.2 million, or $0.58 per diluted share, an increase of 420.4% year-over-year compared to adjusted net income of $11.2 million in the same period last year, or $0.13 per diluted share.
- Adjusted EBITDA was $80.4 million, an increase of 196.6% year-over-year, with adjusted EBITDA margin of 15.2%, an improvement of 640 basis points year-over-year.
- As of March 31, 2021, we had cash and restricted cash of $125.6 million, $48.1 million capacity under our revolving credit facility and total long-term debt of $294.3 million.
- Cash flows from operations was $27.8 million, which increased from $2.0 million in the same period last year.
Original Link: https://www.techpowerup.com/281790/corsair-gaming-reports-record-first-quarter-2021-financial-results
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