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Corsair Gaming (CRSR)
NASDAQ:CRSR
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Corsair Gaming (CRSR) AI Stock Analysis

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CRSR

Corsair Gaming

(NASDAQ:CRSR)

Rating:59Neutral
Price Target:
$9.00
▼(-0.66%Downside)
Corsair Gaming's overall stock score is primarily affected by significant financial performance challenges, including declining revenues and negative net income. Technical analysis shows bearish momentum, and valuation remains unattractive with a negative P/E ratio. However, the earnings call highlighted positive revenue growth and strategic advances, and the new credit agreement boosts financial flexibility.
Positive Factors
Market Performance
Corsair reported Q1 results that beat estimates and consensus on revenue.
Product Innovation
The ongoing popularity of Corsair’s Streamdeck desktop product continues to drive results at high margin.
Strategic Partnerships
Corsair launched quality partnerships for key peripherals and should benefit from a year of decent game releases.
Negative Factors
Tariff Impact
Significant uncertainty remains on whether reciprocal tariffs re-emerge on other APAC countries where Corsair has sourcing exposure and what impact tariffs may have on consumer spending.
Tariff Uncertainty
Corsair withdrew its FY:25 guidance for revenue of $1.4 – 1.6 billion and Adjusted EBITDA of $80 – 100 million due to significant uncertainty on whether reciprocal tariffs re-emerge on other APAC countries where Corsair has sourcing exposure.

Corsair Gaming (CRSR) vs. SPDR S&P 500 ETF (SPY)

Corsair Gaming Business Overview & Revenue Model

Company DescriptionCorsair Gaming, Inc. (CRSR) is a prominent American company that specializes in designing and manufacturing high-performance gear and technology for gamers, content creators, and PC enthusiasts. The company's extensive product portfolio includes gaming peripherals such as keyboards, mice, and headsets, as well as PC components like power supplies, cooling solutions, and memory modules. Additionally, Corsair offers streaming equipment and software to enhance the gaming and content creation experience, catering to both casual and professional users.
How the Company Makes MoneyCorsair Gaming generates revenue through the sale of its diverse range of products across several key categories. The primary revenue streams include gaming peripherals, which encompass products like keyboards, mice, and headsets, and PC components, including cases, power supplies, and cooling solutions. Another significant revenue source is the company's memory products, which are essential for high-performance computing and gaming. Corsair also capitalizes on the growing market for streaming and content creation by offering products like capture cards and lighting solutions. The company sells its products through various distribution channels, including direct-to-consumer sales via its website, partnerships with major retailers, and collaborations with e-commerce platforms. Additionally, Corsair benefits from strategic partnerships and sponsorships within the gaming and esports industries, further bolstering its brand visibility and market reach.

Corsair Gaming Key Performance Indicators (KPIs)

Any
Any
Revenue by Geography
Revenue by Geography
Breaks down revenue across different regions, revealing where Corsair Gaming is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Chart InsightsCorsair Gaming's revenue in the Americas shows a steady recovery, driven by strong performance in the Gamer and Creator Peripheral segment, bolstered by the successful integration of Fanatec. However, Asia Pacific continues to struggle, reflecting challenges in market penetration and ongoing tariff uncertainties. Europe and the Middle East exhibit volatility, but recent quarters indicate potential stabilization. The company's focus on AI-driven innovations and strategic debt reduction enhances its resilience, but tariff-related uncertainties remain a significant risk to sustained growth.
Data provided by:Main Street Data

Corsair Gaming Earnings Call Summary

Earnings Call Date:May 06, 2025
(Q1-2025)
|
% Change Since: 31.69%|
Next Earnings Date:Aug 07, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong revenue growth, successful integration of Fanatec, and advancements in AI-driven innovations, contributing to an optimistic outlook. However, ongoing net losses and uncertainty due to tariffs present challenges that the company is navigating.
Q1-2025 Updates
Positive Updates
Revenue Growth
Corsair reported $370 million in revenue for Q1 2025, representing approximately 10% growth over Q1 2024.
Successful Integration of Fanatec
Fanatec Sim Racing operation was successfully integrated, aligning across website, e-commerce systems, ERP, supply chain, and customer support infrastructure, contributing to growth in the Gamer and Creator Peripheral segment.
AI-Driven Innovations
Corsair introduced AI-enhanced tools like the AI Prompter and integrated AI into wavelength with AI Acoustic, enhancing customer relationships and reducing support costs.
Improved Financial Metrics
Gross margin improved to 27.7% from 25.7% in Q1 2024. Adjusted EBITDA increased to $22.6 million from $18 million in Q1 2024.
Debt Reduction
Corsair reduced debt to $149 million, down $25 million from the prior quarter, enhancing financial flexibility and resilience.
Negative Updates
Net Loss
First quarter net loss attributable to common shareholders was $10.1 million or $0.10 per diluted share compared to a net loss of $12.5 million or $0.12 per diluted share in Q1 2024.
Uncertainty Due to Tariffs
Corsair did not reaffirm full-year 2025 financial guidance due to uncertainty from new tariffs and potential retaliatory actions.
Operational Challenges
Although integration expenses of Fanatec are mostly behind, some supply chain changes are still being made.
Company Guidance
During Corsair Gaming's First Quarter 2025 earnings call, the company reported $369.8 million in net revenue, reflecting a 10% year-over-year growth from Q1 2024. The Gamer and Creator Peripheral segment generated $112 million, while the Gaming Components and Systems segment brought in $257.8 million. Corsair achieved a gross profit of $102.4 million, with a gross margin of 27.7%, an improvement from 25.7% the previous year. Adjusted EBITDA for the quarter was $22.6 million, up from $18 million in Q1 2024. The company also noted a GAAP operating loss of $2.3 million and an adjusted net income of $12.3 million. They highlighted the successful integration of Fanatec, contributing to growth in the peripherals segment, and discussed strategies to mitigate tariff impacts, with only 19% of U.S. market products sourced from China. Corsair's liquidity remains strong, with a cash balance of $102.5 million and $149 million in debt, down by $25 million from the previous quarter.

Corsair Gaming Financial Statement Overview

Summary
Corsair Gaming shows significant profitability challenges with declining revenues and negative net income, as highlighted in the income statement. The balance sheet is stable with low leverage, but persistent net losses impact return metrics. Positive trends in cash flow indicate potential recovery, though profitability needs improvement.
Income Statement
55
Neutral
Corsair Gaming's income statement reveals a challenging environment with declining revenues and negative net income for the TTM period. The gross profit margin stands at 25.45% and the net profit margin is -6.67%, indicating profitability issues. Revenue growth is negative compared to previous years, reflecting a downward trend. The negative EBIT and EBITDA margins further highlight operational inefficiencies.
Balance Sheet
72
Positive
The balance sheet shows a relatively stable equity position with an equity ratio of 49.11%, suggesting good financial health. The debt-to-equity ratio is low at 0.02, indicating manageable debt levels. However, the return on equity is negative due to consistent net losses, which is a concern for investors seeking profitability.
Cash Flow
68
Positive
Cash flow analysis shows a positive operating cash flow of $80.94 million in the TTM period, supporting liquidity. Free cash flow has improved significantly, with a growth rate of 171% compared to the previous year, reflecting effective cash management. However, the operating cash flow to net income ratio is high due to negative net income, suggesting reliance on non-operational factors.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.32B1.46B1.38B1.90B1.70B
Gross Profit327.60M360.26M296.63M513.85M465.43M
EBITDA3.45M64.64M-683.00K172.42M196.30M
Net Income-85.18M-2.59M-54.39M100.96M103.22M
Balance Sheet
Total Assets1.24B1.36B1.30B1.34B1.31B
Cash, Cash Equivalents and Short-Term Investments107.01M175.62M153.83M65.15M133.34M
Total Debt237.04M246.50M295.17M308.26M338.96M
Total Liabilities616.38M663.48M641.81M769.22M876.73M
Stockholders Equity604.30M667.58M623.84M568.18M437.39M
Cash Flow
Free Cash Flow26.03M76.39M40.07M9.22M159.96M
Operating Cash Flow35.88M89.15M66.39M20.19M168.95M
Investing Cash Flow-52.70M-26.98M-47.03M-20.54M-10.28M
Financing Cash Flow-50.68M-37.39M72.61M-65.40M-79.13M

Corsair Gaming Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price9.06
Price Trends
50DMA
9.25
Negative
100DMA
8.69
Positive
200DMA
8.44
Positive
Market Momentum
MACD
-0.02
Positive
RSI
43.36
Neutral
STOCH
19.66
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CRSR, the sentiment is Neutral. The current price of 9.06 is below the 20-day moving average (MA) of 9.42, below the 50-day MA of 9.25, and above the 200-day MA of 8.44, indicating a neutral trend. The MACD of -0.02 indicates Positive momentum. The RSI at 43.36 is Neutral, neither overbought nor oversold. The STOCH value of 19.66 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CRSR.

Corsair Gaming Risk Analysis

Corsair Gaming disclosed 62 risk factors in its most recent earnings report. Corsair Gaming reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Corsair Gaming Peers Comparison

Overall Rating
UnderperformOutperform
Sector (62)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
76
Outperform
$33.32B23.19-109.27%1.85%38.86%337.22%
73
Outperform
$35.19B32.5521.03%82.10%6.35%
72
Outperform
$26.71B16.7322.57%0.13%2.12%
71
Outperform
$90.63B21.29-179.12%1.52%7.68%27.73%
62
Neutral
$34.53B6.79-11.66%2.11%6.09%-7.36%
61
Neutral
$23.29B9.5684.33%4.68%2.08%-12.41%
59
Neutral
$958.74M-15.20%-6.53%-1059.95%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
CRSR
Corsair Gaming
8.57
2.16
33.70%
HPQ
HP
24.45
-8.01
-24.68%
STX
Seagate Tech
154.81
62.81
68.27%
SMCI
Super Micro Computer
56.64
-5.82
-9.32%
WDC
Western Digital
76.55
33.39
77.36%
DELL
Dell Technologies
127.32
26.86
26.74%

Corsair Gaming Corporate Events

Private Placements and FinancingBusiness Operations and Strategy
Corsair Gaming Secures $225 Million Credit Agreement
Positive
Jul 2, 2025

On June 30, 2025, Corsair Gaming, Inc. entered into an Amended and Restated Credit Agreement with Bank of America, N.A., securing $225 million in total commitments. This agreement, which replaces a prior credit agreement from September 2021, includes a $100 million revolving credit facility and a $125 million term loan facility, both maturing in 2030. The agreement is secured by the company’s assets and includes various financial covenants and conditions. This move is expected to enhance Corsair’s financial flexibility and support its strategic initiatives.

The most recent analyst rating on (CRSR) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Corsair Gaming stock, see the CRSR Stock Forecast page.

Executive/Board ChangesShareholder Meetings
Corsair Gaming Holds Virtual Annual Stockholders Meeting
Neutral
Jun 13, 2025

On June 10, 2025, Corsair Gaming held its Annual Meeting of Stockholders virtually, where 92,649,166 shares were voted on two key proposals. The stockholders elected Class II directors Anup Bagaria, George L. Majoros, Jr., and Stuart A. Martin to the Board until the 2028 meeting and ratified KPMG LLP as the independent auditor for the fiscal year ending December 31, 2025.

The most recent analyst rating on (CRSR) stock is a Hold with a $10.00 price target. To see the full list of analyst forecasts on Corsair Gaming stock, see the CRSR Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 02, 2025