Corsair reported Q1 2023 net revenue of $353.9 million, a 7% decline from the prior year, driven by a 33.7% contraction in the Gamer & Creator Peripherals segment.

According to "Corsair Gaming 10‑Q – Q1 FY2023": Corsair reported Q1 2023 net revenue of $353.9 million, a 7% decline from the prior year, driven by a 33.7% contraction in the Gamer & Creator Peripherals segment.

The Gaming Components and Systems segment partially offset revenue declines with a 7.5% increase in sales.

According to "Corsair Gaming 10‑Q – Q1 FY2023": The Gaming Components and Systems segment partially offset revenue declines with a 7.5% increase in sales.

The company narrowed its net loss to $2.0 million in Q1 2023, compared to a $2.9 million loss in Q1 2022, while gross margin improved slightly to 24.1% due to lower freight costs.

According to "Corsair Gaming 10‑Q – Q1 FY2023": The company narrowed its net loss to $2.0 million in Q1 2023, compared to a $2.9 million loss in Q1 2022, while gross margin improved slightly to 24.1% due to lower freight costs.

Cash and restricted cash increased by $28 million to $182.1 million, while long-term debt was reduced to $228.8 million.

According to "Corsair Gaming 10‑Q – Q1 FY2023": Cash and restricted cash increased by $28 million to $182.1 million, while long-term debt was reduced to $228.8 million.

The full consolidation of the 51% stake in iDisplay added $76.7 million in assets and $10.8 million in liabilities to the balance sheet, with $67.19 million recorded in goodwill and intangibles.

According to "Corsair Gaming 10‑Q – Q1 FY2023": The full consolidation of the 51% stake in iDisplay added $76.7 million in assets and $10.8 million in liabilities to the balance sheet, with $67.19 million recorded in goodwill and intangibles.

Contractual cash obligations total approximately $450 million, including a $230 million variable-rate term loan and $92 million in inventory purchase commitments.

According to "Corsair Gaming 10‑Q – Q1 FY2023": Contractual cash obligations total approximately $450 million, including a $230 million variable-rate term loan and $92 million in inventory purchase commitments.

The company maintains a $350 million credit facility with $100 million currently available and remains in compliance with all credit-agreement covenants.

According to "Corsair Gaming 10‑Q – Q1 FY2023": The company maintains a $350 million credit facility with $100 million currently available and remains in compliance with all credit-agreement covenants.

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Key Insights

Corsair Gaming 10‑Q – Q1 FY2023

Corsair Gaming~111 min full read

01
Corsair reported Q1 2023 net revenue of $353.9 million, a 7% decline from the prior year, driven by a 33.7% contraction in the Gamer & Creator Peripherals segment.
02
The Gaming Components and Systems segment partially offset revenue declines with a 7.5% increase in sales.
03
The company narrowed its net loss to $2.0 million in Q1 2023, compared to a $2.9 million loss in Q1 2022, while gross margin improved slightly to 24.1% due to lower freight costs.
04
Cash and restricted cash increased by $28 million to $182.1 million, while long-term debt was reduced to $228.8 million.
05
The full consolidation of the 51% stake in iDisplay added $76.7 million in assets and $10.8 million in liabilities to the balance sheet, with $67.19 million recorded in goodwill and intangibles.
06
Contractual cash obligations total approximately $450 million, including a $230 million variable-rate term loan and $92 million in inventory purchase commitments.
07
The company maintains a $350 million credit facility with $100 million currently available and remains in compliance with all credit-agreement covenants.

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