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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