Page 1

FREMONT , CA , August 3 , 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 second quarter ended June 30 , 2021 . Second Quarter 2021 Highlights ● ● CORSAIR Corsair Gaming Reports Second Quarter 2021 Financial Results Reports Record Second Quarter Revenue and Profit ● Net revenue was $ 472.9 million , an increase of 24.3 % year - over - year . Gamer and creator peripherals segment net revenue was $ 155.2 million , an increase of 40.9 % year - over - year . Gaming components and systems segment net revenue was $ 317.7 million , an increase of 17.6 % year - over - year . Gross profit was $ 130.4 million , an increase of 24.1 % year - over - year , with gross margin of 27.6 % , flat year - over - year . Gamer and creator peripherals segment gross profit was $ 54.6 million , an increase of 41.0 % year - over - year . Gaming components and systems segment gross profit was $ 75.7 million , an increase of 14.2 % year - over - year . Operating income was $ 34.7 million , a decrease of 4.7 % year - over - year . Adjusted operating income was $ 49.3 million , an increase of 3.9 % year - over - year . Net income was $ 27.7 million , or $ 0.28 per diluted share , compared to net income of $ 22.6 million in the same period last year , or $ 0.26 per diluted share . Adjusted net income was $ 35.7 million , or $ 0.36 per diluted share , compared to adjusted net income of $ 32.3 million in the same period last year , or $ 0.37 per diluted share . Adjusted EBITDA was $ 51.6 million , an increase of 4.0 % year - over - year , with adjusted EBITDA margin of 10.9 % , a decrease of 210 basis points year - over - year . As of June 30 , 2021 , we had cash and restricted cash of $ 138.6 million , $ 48.6 million capacity under our revolving credit facility and total long - term debt of $ 270.0 million . Cash flows from operations was $ 31.6 million , which decreased from $ 73.6 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 . " " I am pleased with our performance in the second quarter , where we delivered year - over - year revenue growth of 24 % . Our results highlight the strength of the underlying fundamentals of our business , as gamers continue to purchase and upgrade their gear , even as entertainment outside of the home and travel began to open back up . We experienced growth in every category despite key components shortages , such as graphics cards for enthusiasts to build gaming PCs , logistics issues and port delays , " stated Andy Paul , Chief Executive Officer of Corsair . " The mid - point of our full - year outlook calls for run - rate revenue of $ 2 billion compared to our pre - IPO revenue of $ 1.1 billion in 2019 which shows our strong improvement since then . We are investing in