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Corsair Gaming 10-K Report
Corsair Gaming, Inc. reports a 2020 fiscal year marked by robust growth and strategic expansion within the high-performance gaming and streaming hardware market.
- Corsair Gaming achieved a 55% increase in net revenue to $1.70 billion in fiscal year 2020, driven by strong performance in its Gaming Components & Systems and Gamer-Creator Peripherals segments.
- Operating income reached $158 million with a gross margin of 27.3%, bolstered by a favorable product mix and cost efficiencies following the acquisitions of SCUF, Elgato, and Origin.
- The company holds significant market share in the U.S., capturing approximately 41% of the PC components market and 15% of the peripherals market.
GungHo Online Entertainment Financial Results: FY2020 Q4
GungHo Online Entertainment’s financial results for the fourth quarter of fiscal year 2020 demonstrate a period of sustained growth driven by the successful monetization of core intellectual properties and the expansion of its subsidiary, Gravity.
- GungHo Online Entertainment achieved 98.8 billion yen in consolidated net sales and 30.1 billion yen in operating profit for the full fiscal year 2020.
- Puzzle & Dragons remained the primary revenue driver in Q4 2020, maintaining high monthly active user counts through its 9th-anniversary celebrations and strategic collaborations.
- Subsidiary Gravity significantly bolstered financial results through the regional launches of Ragnarok Origin in South Korea and Ragnarok X: Next Generation in Taiwan, Hong Kong, and Macau.
GungHo Online Entertainment FY2020 Q3 Financial Results Briefing
GungHo Online Entertainment’s fiscal year 2020 third-quarter financial results highlight a strategy centered on the creation of new intellectual property, the maximization of existing core titles, and the expansion of subsidiary operations.
- GungHo reported a quarter-over-quarter increase in consolidated revenue, driven by the sustained performance of flagship title Puzzle & Dragons and successful new releases from subsidiary Gravity.
- The Nintendo Switch title Ninjala reached over 5 million worldwide downloads, supported by a cross-media strategy involving anime, manga, and e-sports.
- Gravity’s expansion in Asia significantly bolstered financial health, with Ragnarok Origin and Ragnarok X: Next Generation achieving top-tier sales rankings in South Korea, Taiwan, Hong Kong, and Macau.
GungHo Online Entertainment Consolidated Financial Results for the 3rd Quarter of FY 2020
GungHo Online Entertainment’s consolidated financial results for the third quarter of fiscal year 2020 demonstrate a period of revenue growth driven by the sustained performance of its flagship title, Puzzles & Dragons, and the successful launch of new gaming content.
- GungHo reported Q3 2020 net sales of 25,444 million yen, an increase of 3,237 million yen over the previous quarter.
- Operating income reached 6,710 million yen, experiencing a slight decline due to higher advertising spend for new game launches.
- The Nintendo Switch title Ninjala, released in June 2020, surpassed 5 million global downloads by late October 2020.
Corsair Gaming, Inc. Form 10‑Q for the quarter ended September 30, 2020
Corsair Gaming’s Form 10-Q for the quarter ended September 30, 2020 demonstrates a decisive turnaround from a 2019 loss to robust profitability in the first nine months of 2020.
- Corsair Gaming transitioned from a $14 million net loss in the first nine months of 2019 to a $60 million net profit in the same period of 2020, driven by a revenue increase from $770 million to $1,146 million.
- The company successfully completed an IPO on September 25, 2020, raising $118.6 million in net proceeds, which were used to pay down debt and support operations.
- Revenue concentration poses a significant risk, with approximately 50% of sales generated by a small group of large retailers, led by Amazon, and 40% of net sales derived from DRAM modules.
GungHo Online Entertainment Consolidated Financial Results for FY 2020
GungHo Online Entertainment’s consolidated financial results for the 2020 fiscal year demonstrate a resilient performance characterized by growth in operating profit despite a slight decline in net sales.
- GungHo Online Entertainment reported a 6.4% increase in operating profit to 30,157 million yen for FY 2020, despite a 2.5% year-on-year decline in net sales to 98,844 million yen.
- The flagship title Puzzle & Dragons remains the primary revenue driver, reaching 56 million cumulative downloads in Japan by November 2020 through consistent updates and collaboration events.
- Subsidiary GRAVITY Co., Ltd. bolstered financial performance through the successful regional launches of Ragnarok Origin in South Korea and Ragnarok X: Next Generation in Taiwan, Hong Kong, and Macau.
GungHo Online Entertainment Consolidated Financial Results: 1st Quarter FY 2021
GungHo Online Entertainment’s consolidated financial results for the first quarter of fiscal year 2021 demonstrate a period of sustained profitability driven by the enduring performance of its core mobile titles.
- GungHo Online Entertainment reported Q1 2021 net sales of 29,146 million yen and an operating income of 10,572 million yen, yielding a 36.3% operating margin.
- The company maintained a strong gross profit margin of 58.2% by focusing on live-service management and content updates for existing titles rather than new releases.
- Flagship title Puzzle & Dragons reached over 57 million downloads in Japan by March 2021, bolstered by its 9th-anniversary event.
Consolidated Financial Results for FY 2021: Supplementary Material
GungHo Online Entertainment’s financial results for the 2021 fiscal year demonstrate a period of growth driven by the sustained performance of its flagship title, Puzzle & Dragons, and the successful expansion of its Ragnarok-related franchise.
- GungHo Online Entertainment reported FY 2021 net sales of 104,626 million yen, a 5.8% year-over-year increase.
- Operating profit grew by 8.8% to 32,802 million yen, resulting in an improved operating profit margin of 31.4%.
- The company successfully offset a 12.1% increase in selling, general, and administrative expenses, driven by higher advertising and personnel costs.
GungHo Online Entertainment: Consolidated Financial Results for the 1st Quarter of FY 2024
GungHo Online Entertainment’s consolidated financial results for the first quarter of fiscal year 2024 reflect a period of mixed performance characterized by steady engagement with core titles alongside a decline in total net sales.
- GungHo reported Q1 2024 net sales of 25,736 million yen, a decrease of 1,729 million yen compared to the previous quarter.
- Operating profit rose to 6,266 million yen, an increase of 1,946 million yen quarter-on-quarter, primarily due to reduced advertising costs and the absence of bonus payments.
- The company achieved an operating profit margin of 24.3% in Q1 2024, up from 15.7% in the final quarter of 2023.
GungHo Online Entertainment Consolidated Financial Results for FY 2024
GungHo Online Entertainment’s consolidated financial results for the 2024 fiscal year reflect a period of contraction characterized by a 17.3% year-on-year decline in net sales, which totaled 103,600 million yen.
- GungHo Online Entertainment reported a 17.3% year-on-year decline in net sales to 103,600 million yen for FY 2024, primarily due to a reactionary drop in Ragnarok franchise revenue.
- Operating profit fell by 37.3% to 17,491 million yen, causing the operating profit margin to contract from 22.2% to 16.8%.
- Profit attributable to owners of the parent decreased by 32.0% year-on-year, totaling 11,171 million yen.
Financial Results Briefing: FY2026 2Q
GungHo Online Entertainment’s financial results for the second quarter of fiscal year 2026 reflect a strategic shift toward global multi-platform expansion, with a primary focus on console and PC development.
- GungHo is pivoting from the Japanese mobile market to global multi-platform development, with overseas revenue now accounting for 69% of total net sales.
- The company is developing a pipeline of nine new titles, including the console-exclusive Ninjala 2 and the dot-art RPG Brave Frontier Origin, both scheduled for 2027.
- Financial results for Q2 FY2026 show a year-over-year decline in sales despite an increase in operating profit, with performance heavily influenced by the cyclical release schedule of the South Korean subsidiary, Gravity.
FY 2026 2Q Consolidated Financial Results: Supplementary Material
GungHo Online Entertainment’s consolidated financial results for the second quarter of fiscal year 2026 reflect a period of moderate contraction in sales and operating profit compared to the previous quarter.
- GungHo reported Q2 FY 2026 net sales of 25,164 million yen, a quarter-on-quarter decrease of 1,430 million yen.
- Operating profit for the second quarter reached 2,686 million yen, resulting in a margin contraction to 10.7% from 11.9% in the first quarter.
- Profit attributable to owners of the parent saw a slight increase to 1,760 million yen, up from 1,700 million yen in the previous quarter.