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CORSAIR Corsair Gaming Reports Record First Quarter 2021 Financial Results Reports Record First Quarter Revenue and Profit ; Raises Full - Year Guidance FREMONT , CA , May 4 , 2021 – Corsair Gaming , Inc. ( NASDAQ : CRSR ) ( “ Corsair " ) , a leading global provider and innovator of high - performance gear for gamers and content creators , today announced financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Highlights Net revenue was $ 529.4 million , an increase of 71.6 % year - over - year . Gamer and creator peripherals segment net revenue was $ 175.9 million , an increase of 131.9 % year - over - year . Gaming components and systems segment net revenue was $ 353.5 million , an increase of 51.9 % year - over - year . Gross profit was $ 160.3 million , an increase of 103.9 % year - over - year , with gross margin of 30.3 % , an improvement of 480 basis points year - over - year . Gamer and creator peripherals segment gross profit was $ 68.9 million , an increase of 211.1 % year - over - year . Gaming components and systems segment gross profit was $ 91.5 million , an increase of 61.9 % year - over - year . ● ● ● ● Operating income was $ 67.3 million , an increase of 404.5 % year - over - year . Adjusted operating income was $ 80.4 million , an increase of 221.4 % year - over - year . Net income was $ 46.7 million , or $ 0.47 per diluted share , compared to net income of $ 1.2 million in the same period last year , or $ 0.01 per diluted share . Adjusted net income was $ 58.2 million , or $ 0.58 per diluted share , an increase of 420.4 % year over - year compared to adjusted net income of $ 11.2 million in the same period last year , or $ 0.13 per diluted share . Adjusted EBITDA was $ 80.4 million , an increase of 196.6 % year - over - year , with adjusted EBITDA margin of 15.2 % , an improvement of 640 basis points year - over - year . As of March 31 , 2021 , we had cash and restricted cash of $ 125.6 million , $ 48.1 million capacity under our revolving credit facility and total long - term debt of $ 294.3 million . Cash flows from operations was $ 27.8 million , which increased from $ 2.0 million in the same period last year . Definitions of the non - GAAP financial measures used in this press release and reconciliations of such measures to their nearest GAAP equivalents are included below under the heading " Use and Reconciliation of Non - GAAP Financial Measures . " " We are thrilled with our first quarter financial performance and strategic progress . End demand remained strong for our products and our new products such as the K65 mini RGB keyboard and Elgato's new accessories debuted well . We introduced 29 new products in the first quarter and we expect this blistering pace of new product introduction to continue throughout the year with several brand new products still to come . Supplies of key components remain tight but we have been able to support our plans and will continue to work on this issue for the rest of the year . As a result of our stronger - than expected first quarter performance and our current views for the rest of the year , we raised our 2021 annual guidance , " stated Andy Paul , Chief Executive Officer of Corsair .