Every material Form 8-K Corsair Gaming filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Corsair reported third-quarter 2024 net revenue of $304.2 million, down 16.2% from $363.2 million a year earlier, and a net loss attributable to common shareholders of $58.4 million, or $0.56 per diluted share, including a $32.5 million non-cash valuation allowance charge on deferred tax assets. The company lowered its full-year 2024 adjusted EBITDA outlook to $40 million to $55 million from $60 million to $75 million, while reiterating its revenue expectation of $1.25 billion to $1.35 billion.
Net revenue was $304.2 million vs. $363.2 million a year earlier; Gaming Components and Systems fell to $202.2 million from $272.8 million, while Gamer and Creator Peripherals rose to $102.0 million from $90.4 million.
Adjusted net loss was $30.3 million, or $0.29 per diluted share, vs. adjusted net income of $13.4 million, or $0.13 per diluted share, in Q3 2023.
Adjusted EBITDA was $4.8 million vs. $23.0 million in Q3 2023.
Adjusted operating income outlook for 2024 is $28 million to $43 million, down from $48 million to $63 million; adjusted EBITDA outlook is $40 million to $55 million, down from $60 million to $75 million.
Corsair Gaming reported second-quarter 2024 net revenue of $261.3 million, down 19.7% from $325.4 million a year earlier, and a net loss of $29.6 million, or $0.28 per diluted share, compared with net income of $0.01 per diluted share in the prior-year quarter. The company also set a full-year 2024 outlook of $1.25 billion to $1.35 billion in net revenue and $60 million to $75 million in adjusted EBITDA, which shareholders will weigh against the weaker quarter.
Q2 2024 net revenue was $261.3 million, down 19.7% year over year; Gaming Components and Systems fell to $167.1 million from $246.7 million, while Gamer and Creator Peripherals rose to $94.2 million from $78.8 million.
Q2 2024 adjusted EBITDA was a loss of $1.2 million, compared with adjusted EBITDA of $17.8 million in Q2 2023.
Full-year 2024 outlook: net revenue of $1.25 billion to $1.35 billion, adjusted operating income of $48 million to $63 million, and adjusted EBITDA of $60 million to $75 million.
In July 2024 the company reduced approximately 100 employees as part of cost savings.
Corsair Gaming said preliminary unaudited second-quarter 2024 revenue was approximately $261 million and that results in its Gaming Components and Systems segment were disappointing for revenue and margins. The company said its Gamer and Creator Peripherals segment grew 20% year over year, but it did not update its financial outlook and will report full results on August 1, 2024.
Preliminary unaudited revenue for the quarter ended June 30, 2024 is approximately $261 million.
CEO Andy Paul said Gaming Components and Systems results were disappointing for revenue and margins, with recovery expected in the second half of 2024 and 2025.
Gamer and Creator Peripherals segment revenue grew 20% year over year, the third consecutive quarter of growth.
Full second-quarter results and outlook will be released after the Nasdaq close on August 1, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Corsair Gaming filing is on SEC EDGAR ↗. 8-K briefs of other companies →