The following is a summary of the Corsair Gaming, Inc. (CRSR) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Corsair Gaming reported an increase in Q4 net revenue to $417.3 million from $398.7 million in Q4 2022.

• Full-year 2023 revenue was up 6.2% compared to 2022, at $1,459.9 million.

• Gross profit in Q4 2023 increased to $102.7 million, up from $97.9 million in Q4 2022.

• Adjusted EBITDA for 2023 doubled compared to the previous year.

• Q4 GAAP operating income was down to $6.2 million from $12.5 million in Q4 2022, but adjusted operating income increased to $31.8 million.

• The company successfully reduced its debt to $199 million.

Business Progress:

• Corsair launched a range of products in 2023, leading to a 16% YoY growth in the gaming and creator peripheral segment in Q4.

• The company increased operational efficiency by relocating production and expanding facilities.

• Expansion into new product categories, sim racing, and mobile controllers is planned for 2024.

• The company has completed integration of the acquisition, Drop, which is expected to contribute to revenue and profit growth.

• The company aims to reduce debt further in 2024 and projects an EBITDA growth each quarter.

More details: Corsair Gaming IR

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