Published on 13 Feb 2024 on GuruFocus.com via Yahoo Finance
Corsair Gaming Inc (CRSR) Reports Strong Earnings Growth and Margin Improvement for Q4 and Full ...
Net Revenue: Q4 net revenue increased to $417.3 million, with full-year revenue reaching $1,459.9 million.Net Income: Q4 net income attributable to common shareholders was $6.2 million, with full-year net income turning positive to $3.2 million.Adjusted EBITDA: Significant growth with Q4 adjusted EBITDA at $33.7 million and $95.1 million for the full year.Gross Margin: Gross margin improved by 310 basis points to 24.7% for 2023.Product Launches: Successful new product launches contributed to the company's strong performance.Financial Outlook: For 2024, net revenue is expected to be in the range of $1.45 billion to $1.60 billion, with adjusted EBITDA between $105 million to $125 million.
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On February 13, 2024, Corsair Gaming Inc (NASDAQ:CRSR) released its 8-K filing, announcing its financial results for the fourth quarter and full year ended December 31, 2023. The company, a leading global provider of high-performance gear for gamers and content creators, reported a 16% year-over-year revenue growth in its Gamer and Creator Peripherals segment for Q4, with a 6% growth in total FY23 revenue. Adjusted EBITDA saw an impressive surge, growing over 100% in FY23.