Corsair Gaming Q2 revenue falls 19.7% to $261.3M; net loss $29.6M; cuts ~100 jobs

Corsair Gaming, Inc.

2024-Q2 EPS reported -$0.41 revenue$598,557,000

Q2 2024 net revenue $261.3M (-19.7% YoY); net loss $29.6M (-$0.28 diluted EPS) vs net income $1.1M a year ago.
Adjusted net loss of $6.8M (-$0.07/sh) vs adj. net income $9.8M; adjusted EBITDA loss $1.2M vs profit $17.8M.
Gaming Components & Systems revenue $167.1M (-32% YoY); Gamer & Creator Peripherals revenue $94.2M (+19.6% YoY).
Reduced workforce by ~100 employees in July 2024 to lower opex; exploring Fanatec/ENDOR AG acquisition after insolvency filing.
FY2024 outlook: revenue $1.25B-$1.35B; adj. operating income $48M-$63M; adj. EBITDA $60M-$75M.

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