Corsair Gaming Releases Preliminary Third Quarter 2021 Financial Results And Updated 2021 Financial Outlook

Leading global provider and innovator of high-performance gaming gear for, Corsair Gaming, announced preliminary unaudited results for the third quarter, which ended on September 30th, 2021, as well as an updated 2021 financial outlook.

“We continue to see 2021 as a strong growth year over the exceptional results from 2020 and building on the acceleration of gamers and streamers buying gear for the first time or upgrading faster than in the past,” said Andy Paul, CEO of Corsair. “We are several years ahead of our growth expectations before our IPO in 2020, and we believe that this is setting a new base for us to grow on. Despite this backdrop of growth, we believe that our 2021 net revenue has been held back at least 10% by global logistics and supply chain issues, especially by the lack of affordable GPUs in the retail channel. After a slower start to the third quarter of 2021, we have seen a return to more typical seasonal ordering with September being the strongest month in the quarter. As a result, for the third quarter ended September 30, 2021, we expect net revenue to be approximately $391 million. Based on what we know today, we are also updating our 2021 annual net revenue guidance to $1.825 billion to $1.925 billion. We intend to update our 2021 guidance for Adjusted Operating Income and Adjusted EBITDA when we release our third-quarter earnings release on November 2, 2021.”

Corsair also announced the date for the release of its third-quarter earnings and its presentation at upcoming investor conferences. Andy Paul and Michael G. Potter, Corsair’s Chief Financial Officer, intend to present at the following conferences:

• Stifel Midwest 1×1 Growth Virtual Conference on Thursday, November 11, 2021.
• Credit Suisse Technology Conference on Wednesday, December 1, 2021.
• Barclays Global Technology, Media and Telecommunications Virtual Conference on Tuesday, December 7, 2021.

A live webcast and replays of the presentations will be available through Corsair’s Investor Relations website. Management will also be available for one-on-one and small group meetings with investors.

(All information was provided by Yahoo! Finance)