Corsair Gaming reports Q4 adjusted EPS 23c, consensus 16c

Reports Q4 revenue $413.6M, consensus $387.92M. Andy Paul, Chief Executive Officer of Corsair, stated, “We closed on a strong note, exceeding Q4 expectations for revenue and adjusted EBITDA after a challenging year. Our higher margin Gamer and Creator Peripherals segment grew by 20% for the full year. Highlights of the growth came from the continued growing demand for our Stream Deck and other Elgato products, which are steadily gaining acceptance as standard peripherals for the desktops of younger generations. We continued to gain momentum with many positive product reviews and high-profile accolades on our recent new peripheral products. This included our K65 wireless keyboard winning best gaming keyboard at The New York Times’ WireCutter. Our K65 was also selected by Apple along with our M75 mouse as gaming peripherals for sale in their stores. Lastly, our newest acquisition, Fanatec had its first meaningful revenue in Q4. The gross profit from our Gamer and Creator Peripherals segment now exceeds the margins from our Gaming Components and Systems segment. We plan to drive continued organic growth combined with additional M&A activity in high value peripherals.”