Corsair Gaming Had Varying Levels Of Success During Q3

On November 3rd, Corsair Gaming announced its Q3 2022 financial results for the quarter ending on September 30th, 2022. Overall, the company performed better during Q3 than it did during Q2, but it’s still down when compared to 2021’s financial results.

Net revenues increased from $283.9 million during Q2 to $311.8 million during the third quarter of this year. While that does represent a quarterly increase, that number is down from $391.1 million during the third quarter of last year.

This also happened to be the case for individual segments of Corsair. Its gaming and creator peripherals segment rose by $7.8 million from Q2 to Q3. However, it is still down from $139.3 million during Q3 2021. The same can be said for Corsair’s gaming components and systems segment. Even though it increased from Q2 to Q3, it is still much lower than the $251.9 million brought in by this segment during the third quarter of last year.

Corsair is still maintaining a positive financial outlook for the 2022 fiscal year. The company expects net revenues to range from $1.325 billion to $1.375 billion.

“We achieved 10% sequential revenue growth from Q2 2022 to Q3 2022, while significantly reducing our channel inventory in what remains a challenging environment,” said Andy Paul, the Chief Executive Officer of Corsair. “Sales out levels from our Channel to Consumers were significantly above pre-pandemic levels in almost all product lines and were above the year-ago level in many of our product categories… Longer term we expect to further benefit from the expansion in the gaming market’s number of active consumers during the pandemic, which we believe will drive a higher spending base over the next few years.”

(All information was provided by Business Wire)

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