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Corsair Gaming (CRSR) investor relations material
Corsair Gaming Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary4 Nov, 2025
Executive summary
Achieved double-digit year-over-year revenue growth and significant profit expansion in Q3 2025, with revenue up 14% to $345.8 million and gross profit up 34% to $93.1 million, driven by disciplined execution and operational focus.
Adjusted EBITDA for Q3 rose 236% to $16.2 million, and adjusted EPS improved to $0.06 from $(0.29) in Q3 2024; net loss per share improved to $(0.09) GAAP.
Both Gaming Components and Systems and Gamer and Creator Peripherals segments delivered double-digit year-over-year growth, fueled by new product launches and expanded global reach, including the Fanatec acquisition.
Strong consumer acceptance and positive early sales for new products such as the Vanguard 96 Gaming Keyboard, Saber Pro FPS Mouse, Valoa/Valor Pro Controller, and Elgato Facecam 4K.
Elgato and Fanatec brands drove growth in the creator and sim racing ecosystems, with Elgato’s Stream Deck and capture cards seeing accelerated adoption.
Financial highlights
Q3 2025 net revenue: $345.8 million (+14% YoY); first nine months revenue: $1.04 billion (+15% YoY); gross profit: $93.1 million (+34% YoY); gross margin: 26.9% (+400 bps YoY).
Adjusted operating income for Q3: $13.5 million (vs. $2.4 million in Q3 2024); adjusted EBITDA: $16.2 million (+236% YoY); adjusted net income: $6.8 million, or $0.06 per diluted share.
Ended Q3 with $65.8 million in cash and $123.4 million in debt; net debt position of $59.0 million as of September 30, 2025.
Operating cash flow for the first nine months: $12.0 million.
SG&A expenses increased 10.7% YoY in Q3 2025, mainly due to higher marketing, personnel, and distribution costs.
Outlook and guidance
Full-year 2025 net revenue expected between $1.425 billion and $1.475 billion; adjusted operating income guidance: $76–$81 million; adjusted EBITDA: $85–$90 million.
Conservative Q4 outlook due to tight DDR5 memory market and evolving consumer spending patterns.
Management expects to exit 2025 with improved EBITDA margin and be positioned for profitable growth in 2026.
Liquidity expected to be sufficient for at least the next twelve months, supported by cash flows and available credit.
DDR5 memory market impact on Q4 outlook
NVIDIA 5000 series GPU impact on 2026 growth
Detail tariff mitigation strategies and results
Detail DDR5 mitigation plans for 2026
Beyond GPUs, what drives Components & Systems growth?
Fanatec's new categories and AI integration impact?
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Next Corsair Gaming earnings date
Barclays 23rd Annual Global Technology Conference10 Dec, 2025
Next Corsair Gaming earnings date
Barclays 23rd Annual Global Technology Conference10 Dec, 2025
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Frequently asked questions
Corsair Gaming, Inc. designs, manufactures, and markets high-performance gaming hardware and accessories to gamers. It offers keyboards, mice and mouse pads, sound cards, Virtual Reality headsets, mid-tower cases, micro ATX cases, and liquid cooling products. The company also provides memory upgrades for computers; and PC gaming components; power supply products; solid state drives; accessories comprising keycaps and wrist rests; PC speakers; and PC headsets. The company was founded in 1994 and is headquartered in Fremont, California.
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