Corsair Gaming (CRSR) financial statements
Corsair Gaming reported revenue of $1.5B in fiscal 2025, up 6.7% a year over 7 years.
Net income was -$16M and the operating margin 0.1%, against 2.3% in 2018.
Free cash flow was $35M.
The diluted share count rose 40% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Corsair Gaming's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $938M | $1.1B | $1.7B | $1.9B | $1.4B | $1.5B | $1.3B | $1.5B |
| Cost of revenue | $745M | $873M | $1.2B | $1.4B | $1.1B | $1.1B | $989M | $1.0B |
| Gross profit | $193M | $224M | $465M | $514M | $297M | $360M | $328M | $426M |
| Research and development | $32M | $38M | $50M | $60M | $66M | $65M | $68M | $69M |
| Selling, general and admin | $139M | $163M | $257M | $316M | $285M | $285M | $310M | $355M |
| Operating income | $22M | $24M | $158M | $138M | -$55M | $10M | -$50M | $2M |
| Interest expense | $33M | $36M | $35M | $18M | $10M | $17M | $13M | $9M |
| Pre-tax income | -$11M | -$13M | $122M | $115M | -$64M | -$3M | -$62M | -$12M |
| Income tax | $3M | -$5M | $19M | $14M | -$10M | -$2M | $22M | $3M |
| Net income | -$14M | -$8M | $103M | $101M | -$54M | -$3M | -$85M | -$16M |
| EPS (diluted) | $0.18 | $0.11 | $1.14 | $1.01 | -$0.63 | $0.03 | -$0.95 | -$0.12 |
| Diluted shares | 75M | 76M | 91M | 100M | 96M | 106M | 104M | 106M |
| Gross margin | 20.6% | 20.4% | 27.3% | 27.0% | 21.6% | 24.7% | 24.9% | 28.9% |
| Operating margin | 2.3% | 2.2% | 9.3% | 7.2% | -4.0% | 0.7% | -3.8% | 0.1% |
| Net margin | -1.5% | -0.8% | 6.1% | 5.3% | -4.0% | -0.2% | -6.5% | -1.1% |
Balance sheet
Fiscal years, from Corsair Gaming's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $28M | $48M | $130M | $62M | $151M | $176M | $107M | $97M |
| Receivables | — | $202M | $294M | $291M | $236M | $253M | $219M | $234M |
| Inventory | — | $151M | $226M | $298M | $193M | $240M | $260M | $303M |
| Total current assets | — | $430M | $691M | $706M | $623M | $712M | $623M | $665M |
| Property, plant and equipment | — | $15M | $16M | $17M | $35M | $32M | $30M | $32M |
| Goodwill | $227M | $313M | $313M | $317M | $348M | $355M | $354M | $358M |
| Total assets | — | $1.1B | $1.3B | $1.3B | $1.3B | $1.4B | $1.2B | $1.3B |
| Total current liabilities | — | $300M | $505M | $447M | $343M | $418M | $396M | $431M |
| Long-term debt | — | $503M | $321M | $243M | $232M | $186M | $161M | $115M |
| Total liabilities | — | $843M | $877M | $769M | $642M | $663M | $616M | $608M |
| Shareholders' equity | $163M | $217M | $437M | $568M | $624M | $668M | $604M | $634M |
| Net debt | -$28M | $458M | $192M | $185M | $87M | $23M | $67M | $24M |
Cash flow
Fiscal years, from Corsair Gaming's 10-K filings with the SEC.
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $422,000 | $37M | $169M | $20M | $66M | $89M | $36M | $50M |
| Capital spending | $8M | $9M | $9M | $11M | $26M | $13M | $10M | $15M |
| Free cash flow | -$8M | $28M | $160M | $9M | $40M | $76M | $26M | $35M |
| Stock-based compensation | $3M | $4M | $6M | $17M | $22M | $31M | $31M | $33M |
| Dividends paid | $85M | — | — | — | — | — | — | — |
| Share buybacks (net) | — | -$2M | — | — | — | — | — | — |
| Net borrowing | $110M | $110M | -$190M | -$80M | — | — | — | — |
| Free cash flow margin | -0.8% | 2.6% | 9.4% | 0.5% | 2.9% | 5.2% | 2.0% | 2.4% |
| Dividends per share | $1.13 | — | — | — | — | — | — | — |
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Open CRSR in InvestinglyQuestions
What was Corsair Gaming's revenue in 2025?
$1.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Corsair Gaming generate?
$35M in fiscal 2025 (operating cash flow minus capital spending).
From Corsair Gaming's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.