CORSAIR GAMING Reports Second Quarter Fiscal Year 2023 Earnings on August 3, 2023
August 19, 2023
🌥️Earnings Overview
CORSAIR GAMING ($NASDAQ:CRSR) announced their fiscal year 2023 second quarter earnings results on August 3 2023, showing a 14.6% total revenue increase to USD 325.4 million and a drastic shift from a net loss of -52.0 million in the same period last year to -4.5 million this quarter.
Stock Price
CORSAIR GAMING opened the day at $18.2 and closed at $18.3, down by 0.2% from its prior closing price of $18.3. Despite the slight decline, CORSAIR GAMING’s stock was still holding strong overall, as the company has seen increased demand for its gaming peripherals and accessories. Core business segments such as peripheral sales, gaming laptops, and gaming desktops all saw an increase in sales over the quarter. This indicates that CORSAIR GAMING is continuing to invest in growth and innovation while still maintaining its strong financial footing.
Overall, CORSAIR GAMING reported a good quarter and appears to be well-positioned for future growth and success. Investors should keep their eyes on the stock over the coming months as the company continues to build upon its current success and expand its product offerings. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Corsair Gaming. More…
| Total Revenues | Net Income | Net Margin |
| 1.39k | 10.18 | -0.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Corsair Gaming. More…
| Operations | Investing | Financing |
| 100.31 | -21.94 | 66.18 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Corsair Gaming. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.32k | 645.04 | 6.31 |
Key Ratios Snapshot
Some of the financial key ratios for Corsair Gaming are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 2.3% | -76.5% | 0.2% |
| FCF Margin | ROE | ROA |
| 5.6% | 0.3% | 0.2% |
Analysis
At GoodWhale, we have conducted an analysis of CORSAIR GAMING‘s fundamentals to determine its Risk Rating. Our results indicate that CORSAIR GAMING is a medium risk investment, taking into account both its financial and business aspects. Additionally, we have detected one risk warning in its balance sheet. To access more detailed information about this warning, become a registered user at GoodWhale. More…
Peers
Their main competitors are Quixant PLC, Turtle Beach Corp, and Asetek A/S.
– Quixant PLC ($LSE:QXT)
Quixant PLC is a technology company that designs, manufactures and sells advanced monitoring, control and timing systems. The company has a market cap of 114.63M as of 2022 and a ROE of 6.78%. Quixant’s products are used in a variety of industries, including gaming, automotive, aerospace and defense. The company’s products are designed to provide customers with reliable, high-performance solutions.
– Turtle Beach Corp ($NASDAQ:HEAR)
Turtle Beach Corporation is a holding company that operates through its subsidiaries. The company is engaged in the design, manufacture and marketing of audio gaming headsets for video game consoles and personal computers. The company’s products are designed to enhance the gaming experience by providing audio clarity and customization. Turtle Beach’s headsets are sold through major retailers and distributors in North America, Europe, Australia and Asia. The company was founded in 1975 and is headquartered in Valhalla, New York.
– Asetek A/S ($LTS:0QDT)
Asetek A/S is a Denmark-based company engaged in the design and manufacturing of cooling solutions for computers, servers and consumer electronics. The Company’s product portfolio includes all-in-one (AIO) liquid coolers, server liquid cooling solutions, desktop and laptop external cooling solutions, and chipset and power semiconductor cooling solutions. It sells its products to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) in the gaming, personal computer (PC), workstation, server, appliance, and mobile device markets worldwide.
Summary
CORSAIR GAMING experienced a strong second quarter of 2023, with total revenue increasing 14.6% to USD 325.4 million and net income improving significantly from -52.0 million to -4.5 million. This indicates a positive trend for the company, as it is able to generate higher sales and improve its bottom line. Investors may find the stock attractive given its sturdy financial performance, as well as its product portfolio of gaming peripherals which could benefit from the rising popularity of online gaming. It is important to note that the company’s financials can be affected by external factors such as competitive pricing and currency exchange rate fluctuations.
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