Every material Form 8-K Corsair Gaming filed with the SEC in 2025, 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 Gaming said Gordon Mattingly, former CFO of Universal Audio, will become Chief Financial Officer effective December 2, 2025, succeeding Michael G. Potter, who will leave the company effective December 31, 2025. Potter will serve as a senior advisor during the transition and then provide consulting services through March 31, 2026. A CFO change is a significant leadership transition, and the filing also sets out pay and severance terms for both executives.
Gordon Mattingly appointed CFO effective December 2, 2025, with a base salary of $525,000 and a target bonus of 70% of salary.
Michael G. Potter resigns as CFO effective December 2, 2025 and departs December 31, 2025.
Potter's consulting period runs January 1, 2026 through March 31, 2026, with accelerated vesting of certain equity awards on March 31, 2026 if conditions are met.
Mattingly's one-time initial equity awards include $1,000,000 each in RSUs, PSUs and options, subject to Compensation Committee approval.
Corsair Gaming reported third-quarter 2025 revenue of $345.8 million, up 14% from a year earlier, and a GAAP net loss of $0.09 per share, compared with a $0.56 loss in the prior-year quarter. The company also updated its full-year 2025 outlook, projecting net revenue of $1.425 billion to $1.475 billion and adjusted EBITDA of $85 million to $90 million, but the filing does not state the prior guidance for comparison.
Q3 2025 net revenue was $345.8 million, up 14% from $304.2 million in Q3 2024.
GAAP net loss per diluted share was $(0.09) versus $(0.56); non-GAAP diluted EPS was $0.06 versus $(0.29).
Adjusted EBITDA was $16.2 million, up 236% from $4.8 million in Q3 2024.
Full-year 2025 outlook: net revenue of $1.425 billion to $1.475 billion; adjusted EBITDA of $85 million to $90 million.
Corsair reported results for the quarter ended June 30, 2025, with revenue up 23% to $320 million and gross profit up 36% to $85.9 million from a year earlier. GAAP net loss per share narrowed to $(0.16) from $(0.28), and adjusted EBITDA was $8.1 million compared with a loss of $1.2 million in the prior-year quarter. The company reaffirmed its full-year 2025 net revenue outlook of $1.4 billion to $1.6 billion but said it will provide an updated adjusted operating income and adjusted EBITDA outlook later this year, depending on tariff developments.
Q2 2025 net revenue was $320 million, up 23% from $261 million in Q2 2024.
Q2 2025 GAAP net loss per diluted share was $(0.16), compared with $(0.28) in Q2 2024.
Adjusted EBITDA was $8.1 million, compared with a loss of $1.2 million a year earlier.
Full-year 2025 net revenue outlook of $1.4 billion to $1.6 billion was reaffirmed; updated adjusted operating income and EBITDA guidance is expected later this year.
On June 30, 2025, Corsair Gaming and certain U.S. subsidiaries entered into an Amended and Restated Credit Agreement with Bank of America, N.A. as administrative agent, providing $225.0 million in total commitments. The new agreement replaces the company's prior senior credit facilities dated September 3, 2021, and is secured by substantially all assets of the company and guarantor subsidiaries.
Total commitments of $225.0 million: a $100.0 million five-year revolving facility and a $125.0 million five-year term loan, both maturing June 30, 2030
Additional incremental facilities of up to $125.0 million are permitted, subject to conditions
Term SOFR loans priced at 1.50% to 2.50% above SOFR; base rate loans at 0.50% to 1.50% above base rate, both based on total net leverage ratio
Covenants limit additional debt, liens, asset sales, investments, dividends and share repurchases, and mergers; a maximum total net leverage ratio and minimum interest coverage ratio apply
Corsair reported first-quarter 2025 net revenue of $369.8 million, up from $337.3 million a year earlier, and a net loss attributable to common shareholders of $10.1 million, or $0.10 per diluted share, compared with a loss of $0.12 per share a year earlier. The company did not reaffirm its full-year 2025 guidance because of uncertainty from newly announced tariffs, though it said it remains on track to meet the February 12, 2025 guidance if current conditions hold.
Net revenue was $369.8 million versus $337.3 million in Q1 2024; Gaming Components and Systems segment revenue was $257.8 million.
Adjusted EBITDA was $22.6 million versus $18.0 million; total gross margin was 27.7% versus 25.7%.
Full-year 2025 guidance was not reaffirmed; Corsair intends to provide an updated outlook later this year.
Cash and restricted cash was $102.5 million as of March 31, 2025.
Corsair Gaming said CEO Andy Paul will retire from the CEO role and board effective July 1, 2025, and the board appointed President and COO Thi La as CEO effective the same date. The filing does not report any financial results or guidance changes tied to the transition, so the change is a leadership transition rather than a change in reported performance.
Andy Paul notified the company of his retirement on February 10, 2025; he will serve as CEO until June 30, 2025 under a Transition Agreement
Thi La, currently President and COO, was appointed CEO on February 11, 2025, effective July 1, 2025, on a three-year employment term at an annual base salary of $800,000
La's target annual bonus is 120% of base salary, and the company intends to grant equity with an aggregate target value of $5 million, subject to board approval
If Paul stays through June 30, 2025 and signs a release, his stock options and RSUs fully vest and his option exercise period extends 24 months
Corsair reported fourth-quarter and full-year 2024 results. Full-year net revenue fell to $1.3 billion from $1.5 billion in 2023, and the company posted a net loss attributable to common shareholders of $99.2 million, compared with net income of $3.2 million a year earlier. The company also gave 2025 guidance of $1.4 billion to $1.6 billion in net revenue and $80 million to $100 million in adjusted EBITDA, though it says these are estimates, not guarantees.
Q4 2024 net revenue was $413.6 million vs. $417.3 million in Q4 2023; Q4 net income was $1.3 million, or $0.01 per diluted share, vs. $0.06.
FY2024 net loss attributable to common shareholders was $99.2 million, or $0.95 per diluted share, vs. net income of $3.2 million in 2023.
FY2024 adjusted EBITDA was $54.7 million vs. $95.1 million in 2023.
2025 outlook: net revenue of $1.4 billion to $1.6 billion and adjusted EBITDA of $80 million to $100 million.
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.
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