Corsair Gaming (CRSR) FY2024 results: revenue $1.3 billion, down 9.8% on the year

Corsair Gaming, Inc. (CRSR) reported revenue of $1.3 billion for fiscal 2024, the year ended 31 December 2024, down 9.8% on the year before. Net income was -$85 million, and diluted earnings per share $-0.95. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2025.

Revenue

$1.3 billion

-9.8% on the year

FY2018FY2024

Operating margin

-3.8%

0.7% a year earlier

FY2018FY2024

Net income

-$85 million

FY2018FY2024

Diluted EPS

-$0.95

FY2018FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	1,316	1,460	1,375	-9.8%
Cost of revenue	989	1,100	1,078	-10.1%
Gross profit	328	360	297	-9.1%
Gross margin	24.9%	24.7%	21.6%
Research and development	67.5	65.3	66.5	+3.5%
Selling, general and administrative	310	285	285	+8.7%
Operating income	-50.0	9.7	-54.8
Operating margin	-3.8%	0.7%	-4.0%
Pre-tax income	-61.7	-3.5	-63.8
Income tax	21.7	-2.4	-9.8
Net income	-85.2	-2.6	-54.4
Net margin	-6.5%	-0.2%	-4.0%
Diluted EPS	-$0.95	$0.03	-$0.63

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	35.9	89.2	66.4	-59.8%
Capital expenditure	9.8	12.8	26.3	-22.8%
Free cash flow	26.0	76.4	40.1	-65.9%
Free cash flow margin	2.0%	5.2%	2.9%
Cash from investing	-52.7	-27.0	-47.0
Cash from financing	-50.7	-37.4	72.6
Depreciation and amortisation	51.9	50.7	50.6	+2.4%
Share-based compensation	30.6	30.9	22.2	-0.9%
Diluted shares, weighted	104m	106m	96m	-2.0%
Shares outstanding at period end	103m	101m	95m	+1.8%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	604	668	624	-9.5%
Non-controlling interest	0.0	10.5	10.2
Redeemable equity	15.1	15.9	21.4	-4.9%
Debt	174	198	239	-12.4%
Operating lease liabilities	47.7	38.6	45.5	+23.5%
Other liabilities	395	427	358	-7.4%
Total liabilities and equity	1,236	1,357	1,297	-9.0%
Fixed assets	29.7	32.2	34.9	-7.7%
Goodwill	354	355	348	-0.1%
Intangible assets	164	188	216	-12.6%
Cash and equivalents	110	179	154	-38.6%
Receivables	219	253	236	-13.7%
Inventory	260	240	193	+8.2%
Other assets	99.3	111	116	-10.2%
Total assets	1,236	1,357	1,297	-9.0%

10-K for the year ended 31 December 2024, filed 26 February 2025: the filing.