Corsair Gaming to Report Q1 2022 Financial Results on May 5; Company Provides Preliminary Q1 2022 Results – Yahoo Finance

Corsair Gaming, Inc.

FREMONT, Calif., April 21, 2022 (GLOBE NEWSWIRE) — Corsair Gaming, Inc. (Nasdaq:CRSR) (“Corsair” or the “Company”), a leading global provider and innovator of high-performance gear for gamers and content creators, today announced it will report its full financial results and hold its first quarter 2022 conference call at 3:00 p.m. Pacific Time on May 5, 2022. The Company also announced today its preliminary unaudited revenue was approximately $380 million, with preliminary unaudited adjusted EBITDA expected to be between $14 million to $15 million, for the quarter ended March 31, 2022.

Andy Paul, Chief Executive Officer of Corsair, commented, “We are pleased that our preliminary Q1 revenue increased 23% over the fiscal year first quarter prior to shelter at home, which was Q1 2020. This continues to demonstrate the long term growth for gaming products. We were also pleased to see continued gains in market share in many of our categories, which underscores our commitment to continued product innovation. We were not expecting to show growth over the most recent Q1 2021 since that quarter contained stimulus checks and pent-up demand due to product shortages. Having said that, our Q1 2022 revenue was lower than we expected, mainly due to a short-term slowdown in consumer spending in Europe. As is now becoming generally apparent, inflation is higher than expected and the Russia and Ukraine conflict has put a strain on consumer confidence. We are encouraged by many recent reports of GPU pricing falling and availability coming back to normal, and as we outlined in our investor day presentations, we expect that to result in a surge of self-built gaming PC activity in the second half of this year.”

The foregoing forward-looking statements reflect our expectations as of today’s date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. The definition of adjusted EBITDA as used in this press release is included below under the heading “Use of Non-GAAP Financial Measures.”

First Quarter 2022 Conference Call and Webcast Information
Corsair will release its first quarter 2022 results and financial outlook after the Nasdaq close on Thursday, May 5, 2022, with its management hosting a conference call to discuss results at 3:00 p.m. Pacific Time that same day.

The 3:00 p.m. Pacific Time conference call will be accessible on Corsair’s Investor Relations website at https://ir.corsair.com, or by dialing 1-877-407-0784 (USA) or 1-201-689-8560 (International) with conference ID 13728886. A replay will be available approximately 2 hours after the live call ends on Corsair’s Investor Relations website, or through May 12, 2022 by dialing 1-844-512-2921 (USA) or 1-412-317-6671 (International), with passcode 13728886.

About Corsair Gaming, Inc.

Corsair is a leading global developer and manufacturer of high-performance gear and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals to premium streaming equipment, smart ambient lighting and esports coaching services, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best.

Corsair also sells gear under its Elgato brand, which provides premium studio equipment and accessories for content creators, SCUF Gaming brand, which builds custom-designed controllers for competitive gamers, ORIGIN PC brand, a builder of custom gaming and workstation desktop PCs and laptops and Gamer Sensei brand, an esports coaching platform.

Forward Looking Statements

Except for the historical information …….

Source: https://finance.yahoo.com/news/corsair-gaming-report-q1-2022-200500993.html

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