Corsair Reports $103M Profit for 2020, Paid Off $190M in Debt

In Corsair’s first annual earnings report since its IPO in September 2020, the company revealed a 55.2% year-over-year increase in annual net revenues to $1.7B USD for the year 2020, while its quarterly revenues for the fourth quarter of 2020 increased by 70.4% to $556.3M.

Source: Corsair Investor Presentation Feb. 9, 2021

The company’s gaming components and systems segment increased by 44.8% (56.8%) year-over-year and accounted for 68.4% (65.5%) or $1.16B ($364.5M) of total annual revenues (quarterly revenues), while its gamer and creator peripherals segment increased by 83.4% (104%) year-over-year to $540M ($192M).

In total, Corsair ended 2020 with a net profit of $103.2M, compared to a net loss of $8.4M in the same period of last year. For the fourth quarter of 2020, Corsair reported a net income of $43M, up 717% from $6M in the same period of 2019. In a release, Corsair’s Chief Financial Officer Michael Potter said that the company paid off an additional $50M in debt during the fourth quarter, bringing the total debt repayment for 2020 to $190M.

On Feb. 1, 2021, Corsair was awarded over $4M in a patent infringement case with video game developer and publisher Valve as a jury found that Valve infringed Corsair’s subsidiary Ironburg’s controller patent.

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