Corsair Q3 revenue down 16% to $304M; net loss $58.4M; FY24 EBITDA guidance cut to $40-55M

Corsair Gaming, Inc.

2024-Q3 EPS reported -$0.97 revenue$902,756,000

Net revenue $304.2M, down 16.2% YoY; Gaming Components fell 26%, Peripherals grew 13%.
GAAP net loss $58.4M ($0.56/share) vs loss $3.1M in Q3 2023; includes $32.5M deferred tax valuation allowance.
Adjusted net loss $30.3M ($0.29 adj loss/share) vs adj net income $13.4M; Adjusted EBITDA $4.8M vs $23M.
FY2024 revenue reiterated $1.25-1.35B; adjusted EBITDA outlook lowered to $40-55M from $60-75M.
Completed Fanatec acquisition; workforce reduction; expects Q4 EPS-neutral and profitability in 2025.

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