0001564590-21-012507 | 10-K | XBRL Viewer

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Document and Entity Information - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2020	Feb. 26, 2021	Jun. 30, 2020
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Entity Registrant Name	Corsair Gaming, Inc.
Entity Central Index Key	0001743759
Current Fiscal Year End Date	--12-31
Entity Emerging Growth Company	false
Entity File Number	001-39533
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	82-2335306
Entity Address, Address Line One	47100 Bayside Pkwy
Entity Address, City or Town	Fremont
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94538
City Area Code	510
Local Phone Number	657-8747
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Document Annual Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		91.9
Entity Public Float			$ 0
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Title of 12(b) Security	Common Stock, $0.0001 par value per share
Trading Symbol	CRSR
Security Exchange Name	NASDAQ
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
ICFR Auditor Attestation Flag	false
Documents Incorporated by Reference	Portions of the registrant’s Definitive Proxy Statement for the 2021 Annual Meeting of Stockholders, or the Proxy Statement, to be filed within 120 days of the end of the fiscal year ended December 31, 2020, are incorporated by reference in Part III hereof. Except with respect to information specifically incorporated by reference in this Annual Report on Form 10-K, the Proxy Statement is not deemed to be filed as part hereof.

Combined Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Statement [Abstract]
Net revenue	$ 1,702,367	$ 1,097,174	$ 937,553
Cost of revenue	1,236,938	872,887	744,858
Gross profit	465,429	224,287	192,695
Operating expenses:
Sales, general and administrative	257,004	163,033	138,915
Product development	50,064	37,547	31,990
Total operating expenses	307,068	200,580	170,905
Operating income	158,361	23,707	21,790
Other (expense) income:
Interest expense	(35,137)	(35,548)	(32,680)
Other (expense) income, net	(1,182)	(1,558)	183
Total other expense, net	(36,319)	(37,106)	(32,497)
Income (loss) before income taxes	122,042	(13,399)	(10,707)
Income tax (expense) benefit	(18,825)	5,005	(3,013)
Net income (loss)	$ 103,217	$ (8,394)	$ (13,720)
Net income (loss) per share
Basic	$ 1.20	$ 0.11	$ 0.18
Diluted	$ 1.14	$ 0.11	$ 0.18
Weighted-average shares used to compute net income (loss) per share
Basic	86,256	76,223	75,458
Diluted	90,577	76,223	75,458

Combined Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ 103,217	$ (8,394)	$ (13,720)
Other comprehensive gain (loss):
Foreign currency translation adjustments, net of zero tax	2,477	490	(706)
Unrealized foreign exchange gain (loss) from long-term intercompany loans, net of tax benefit (expense) of $(150), $55, and $300 for the years ended December 31, 2020, 2019, and 2018, respectively	1,221	(278)	(1,520)
Comprehensive income (loss)	$ 106,915	$ (8,182)	$ (15,946)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Combined Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation adjustments, net of tax	$ 0	$ 0	$ 0
Unrealized foreign exchange gain (loss) from long-term intercompany loans, net of tax benefit (expense)	$ (150)	$ 55	$ 300

Combined Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Current assets:
Cash	$ 129,543	$ 48,165
Restricted cash	3,795	3,552
Accounts receivable, net	293,629	202,334
Inventories	226,007	151,063
Prepaid expenses and other current assets	37,997	24,696
Total current assets	690,971	429,810
Property and equipment, net	16,475	15,365
Goodwill	312,760	312,750
Intangible assets, net	259,317	291,027
Restricted cash, noncurrent	230	230
Other assets	34,362	10,536
TOTAL ASSETS	1,314,115	1,059,718
Current liabilities:
Accounts payable	299,636	182,025
Current portion of debt, net		2,364
Other liabilities and accrued expenses	205,745	115,541
Total current liabilities	505,381	299,930
Debt, net including related party balance of nil and $5,779 as of December 31, 2020 and 2019, respectively	321,393	503,448
Deferred tax liabilities	29,752	33,820
Other liabilities, noncurrent	20,199	5,745
TOTAL LIABILITIES	876,725	842,943
Commitments and Contingencies (Note 9)
Stockholders’ Equity:
Preferred stock, $0.0001 par value: 5,000 shares and nil authorized; nil and nil issued and outstanding as of December 31, 2020 and 2019, respectively
Common stock, $0.0001 par value: 300,000 shares and 100,000 shares authorized; 91,935 and 84,079 shares issued and outstanding as of December 31, 2020 and 2019, respectively	9	8
Additional paid-in capital	438,667	324,968
Accumulated deficit	(2,813)	(106,030)
Accumulated other comprehensive income (loss)	1,527	(2,171)
Total Stockholders’ Equity	437,390	216,775
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 1,314,115	$ 1,059,718

Combined Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Of Financial Position [Abstract]
Debt, net, related party balance		$ 5,779
Preferred stock, par value	$ 0.0001
Preferred stock, shares authorized	5,000,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	300,000,000	100,000,000
Common stock, shares issued	91,935,000	84,079,000
Common stock, shares outstanding	91,935,000	84,079,000

Combined Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Total	Cumulative Effect of Adoption of New Accounting	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Retained Earnings (Accumulated Deficit) Cumulative Effect of Adoption of New Accounting	Accumulated Other Comprehensive Income (Loss)
Balance as of December 31, 2017 at Dec. 31, 2017	$ 254,661		$ 8	$ 249,251	$ 5,559		$ (157)
Beginning Balance, shares at Dec. 31, 2017			75,025,000
Issuance of common stock in relation to acquisition	6,226			6,226
Issuance of common stock in relation to acquisitions, shares			868,000
Issuance of common stock for stock option exercises	10			10
Issuance of common stock for stock option exercises, shares			3,000
Dividends paid to common stockholders	(85,000)				(85,000)
Stock-based compensation	2,751			2,751
Other comprehensive income (loss)	(2,226)						(2,226)
Net income (loss)	(13,720)				(13,720)
Ending Balance at Dec. 31, 2018	162,702		$ 8	258,238	(93,161)		(2,383)
Ending Balance, shares at Dec. 31, 2018			75,896,000
Issuance of common stock in relation to acquisition	10,000			10,000
Issuance of common stock in relation to acquisitions, shares			1,322,000
Issuance of common stock for stock option exercises	124			124
Issuance of common stock for stock option exercises, shares			34,000
Issuance of common stock	53,500			53,500
Issuance of common stock, shares			7,046,000
Repurchase of common stock	(1,531)			(742)	(789)
Repurchase of common stock, shares			(219,000)
Stock-based compensation	3,848			3,848
Other comprehensive income (loss)	212						212
Net income (loss)	(8,394)				(8,394)
Ending Balance at Dec. 31, 2019	216,775	$ (3,686)	$ 8	324,968	(106,030)	$ (3,686)	(2,171)
Ending Balance, shares at Dec. 31, 2019			84,079,000
Issuance of common stock to directors, shares			20,000
Issuance of common stock for stock option exercises	$ 1,337			1,337
Issuance of common stock for stock option exercises, shares	326,450		327,000
Issuance of common stock upon vesting of restricted stock units, shares			9,000
Issuance of common stock	$ 106,567		$ 1	106,566
Issuance of common stock, shares			7,500,000
Stock-based compensation	5,796			5,796
Other comprehensive income (loss)	3,698						3,698
Net income (loss)	103,217				103,217
Ending Balance at Dec. 31, 2020	$ 437,390		$ 9	$ 438,667	$ (2,813)		$ 1,527
Ending Balance, shares at Dec. 31, 2020			91,935,000

Combined Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)	$ 103,217	$ (8,394)	$ (13,720)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation	5,796	3,848	2,751
Depreciation	9,318	7,384	5,670
Amortization of intangible assets	33,916	30,123	30,893
Debt issuance costs amortization	2,550	2,989	3,420
Loss on debt extinguishment	4,114
Deferred income taxes	(7,476)	(11,535)	(3,017)
Other	2,594	(347)	(36)
Changes in operating assets and liabilities:
Accounts receivable	(91,492)	(48,033)	(7,339)
Inventories	(80,086)	15,711	(29,753)
Prepaid expenses and other assets	(7,953)	(1,619)	(10,869)
Accounts payable	116,522	16,203	25,835
Other liabilities and accrued expenses	77,933	30,773	(3,413)
Net cash provided by operating activities	168,953	37,103	422
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(1,291)	(126,104)	(30,210)
Payment of deferred consideration		(10,300)
Purchase of property and equipment	(8,989)	(8,848)	(8,345)
Purchase of intangible asset		(175)
Net cash used in investing activities	(10,280)	(145,427)	(38,555)
Cash flows from financing activities:
Proceeds from issuance of debt, net		113,885	113,575
Repayment of debt	(190,394)	(3,969)	(3,088)
Payment of debt issuance costs	(194)	(2,450)	(1,836)
(Repayments of) borrowings from line of credit, net		(27,000)	27,000
Proceeds from initial public offering, net of $8,925 underwriting discounts and commissions	118,575
Payment of other offering costs	(8,455)	(245)	(3,307)
Proceeds from issuance of common stock to common stockholders		53,500
Cash dividends paid to common stockholders			(85,000)
Repurchase of common stock		(1,531)
Proceeds from exercise of stock options	1,337	124	10
Net cash provided by (used in) financing activities	(79,131)	132,314	47,354
Effect of exchange rate changes on cash	2,079	37	(331)
Net increase in cash and restricted cash	81,621	24,027	8,890
Cash and restricted cash at the beginning of the period	51,947	27,920	19,030
Cash and restricted cash at the end of the period	133,568	51,947	27,920
Supplemental cash flow disclosures:
Cash paid for interest	27,957	32,842	28,865
Cash paid for income taxes	13,505	571	6,122
Supplemental disclosure of non-cash investing and financing activities:
Equipment purchased and unpaid at period end	1,832	927	2,660
Issuance of common stock relating to business acquisitions		10,000	6,226
Deferred purchase consideration (Note 5)	145	7,641	10,331
Measurement period adjustments relating to business acquisitions	$ 1,531
Deferred offering costs included in accounts payable and accrued expenses		$ 2,255	$ 1,989

Combined Consolidated Statements of Cash Flows (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Operating Cash Flows Direct Method [Abstract]
Payments of stock issuance costs underwriting discounts and commissions	$ 8,925

Description of Business

12 Months Ended

Dec. 31, 2020

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Description of Business

1. Description of Business and Basis of Presentation

Description of Business

Corsair Gaming, Inc., a Delaware corporation, together with its subsidiaries (collectively, “Corsair” the “Company”, “we”, “us”, or “our”), is a global provider and innovator of high-performance gear for gamers, streamers and content creators.

Corsair is organized into two reportable segments:

•

Gamer and creator peripherals. Includes our high-performance gaming keyboards, mice, headsets, controllers, and our streaming gear including capture cards, Stream Decks, USB microphones, studio accessories and EpocCam software, as well as coaching and training services, among others.

•

Gaming components and systems. Includes our high-performance power supply units, or PSUs, cooling solutions, computer cases, DRAM modules, as well as high-end prebuilt and custom-built gaming PCs, among others.

Reorganization

On September 15, 2020, a corporate reorganization (the “Reorganization”) was consummated whereby we now own directly and indirectly all of the operating subsidiaries and assets that were formerly owned by Corsair Group (Cayman), LP (the “Parent”) and Corsair Group (US), LLC, a minority interest holder. The Parent is a limited partnership domiciled in the Cayman Islands. The Parent and Corsair Group (US), LLC are under common control of the affiliates of EagleTree Capital, LP, a private equity investment firm. Prior to the Reorganization, the North American and international operations of Corsair were conducted by certain operating subsidiaries held by separate entities, Corsair Gaming, Inc. and Corsair Holdings (Lux) S.à r.l. (or “Corsair Luxco”), respectively, each of which was substantially owned by and under common control of the Parent.

The Reorganization was comprised of a series of steps as set forth below:

•

The Parent acquired the minority interest held by Corsair Group (US), LLC in exchange for its own units.

•

Corsair Gaming, Inc. acquired all of the outstanding capital stock of Corsair Luxco from the Parent in exchange for its own stock.

•

In order for management and certain other partnership unit holders of the Parent to hold Corsair’s common stock directly, we entered into exchange agreements with such holders to exchange the Parent’s units for shares of Corsair’s common stock on a pro rata basis relative to their holdings in the Parent prior to the Reorganization.

•

The Parent’s 2017 Equity Incentive Program was assumed by Corsair and all of the outstanding options to acquire units under the Parent’s 2017 Equity Incentive Program were converted into options to purchase Corsair’s common stock on a pro rata basis with an adjusted exercise price to reflect the assumption.

•

We implemented a 1-for-28,693.596843964 stock split resulting in there being 84,405,366 shares of Corsair’s common stock outstanding and 10,029,388 options outstanding to purchase Corsair’s common stock as of the date of the Reorganization.

As all legal entities included in the Reorganization are under common control of the Parent, all steps of the Reorganization were accounted for as a combination of entities under common control.

Unless otherwise indicated, the accompanying combined consolidated financial statements and related notes that reference Corsair’s capitalization, including other matters relating to equity, share, and per share information, have been retroactively revised to reflect the Reorganization for all periods presented. Accordingly, references in the footnotes related to transactions entered into by the Parent involving the Parent’s units or options to purchase the Parent’s units have been revised as common share equivalents of Corsair and options to purchase shares of Corsair’s common stock using the ratio of Corsair’s issued and outstanding shares immediately post-Reorganization to the Parent’s issued and outstanding units immediately post-Reorganization but prior to the unit exchanges described above.

Initial Public Offering and Secondary Offering

On September 25, 2020, we completed our initial public offering (IPO). In connection with the IPO, we sold 7,500,000 shares of common stock at $17.00 per share, resulting in proceeds of $118.6 million, net of the underwriting discounts and commissions and before offering costs. In connection with the IPO, certain selling stockholders sold 6,500,000 shares of common stock at $17.00 per share. Subsequent to the IPO, certain selling stockholders further sold 1,135,375 shares pursuant to the underwriters’ exercise of their option to purchase additional shares.

On January 26, 2021, we completed a secondary offering of our common stock where certain selling stockholders sold 8,625,000, shares of common stock at $35.00 per share.

We did not receive any of the proceeds from the sale of shares by the selling stockholders.

Deferred offering costs consist primarily of accounting, legal, and other fees related to the IPO. Prior to the IPO, all deferred offering costs were capitalized in other assets in the combined consolidated balance sheets. After the IPO, $12.0 million of deferred offering costs were reclassified into stockholders’ equity as a reduction of the IPO proceeds in the combined consolidated balance sheet as of December 31, 2020. The amount of deferred offering costs capitalized as of December 31, 2019 was $5.8 million.

Basis of Presentation

The accompanying combined consolidated financial statements include those of Corsair and its subsidiaries, after elimination of all intercompany balances and transactions. These combined consolidated financial statements have been prepared in accordance with United States generally accepted accounting principles (“U.S. GAAP”) and pursuant to the rules and regulations of the United States Securities and Exchange Commission (the “SEC”).

Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Use of Estimates

The preparation of combined consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the combined consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Such estimates include, but are not limited to, the valuation of intangible assets, accounts receivable, sales return reserves, reserves for customer incentives, warranty reserves, inventory, derivative instruments, stock-based compensation, deferred income tax, and common stock (prior to the IPO completed in September 2020). These estimates and assumptions are based on management’s best estimates and judgment. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment. We adjust such estimates and assumptions when facts and circumstances dictate. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates.

Risks and Uncertainties related to the COVID-19 Pandemic

Due to the COVID-19 pandemic, there has been and will continue to be uncertainty and disruption in the global economy and financial markets. Since early 2020, we have experienced some business disruptions due to COVID-19 including the stoppage in our factories in early 2020, disruption in our supply chain and increased distribution costs, which led to an increase in operating costs. This negative financial impact has been offset by strong revenue growth year-over-year partly due to an increase in demand for our gear as more people in more countries are under shelter-in-place restrictions. The increase in demand continued into the second half of 2020 as the COVID-19 pandemic continues. However, as the global economic activity slows down, the demand for our gear could decline despite these trends. The extent to which the COVID-19 outbreak ultimately impacts our business, sales, results of operations and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to, the duration and spread of the outbreak, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic and operating conditions can resume. Even after the COVID-19 outbreak has subsided, we may continue to experience significant impacts to our business as a result of its global economic impact, including any economic downturn or recession that has occurred or may occur in the future.

As of the date of issuance of these combined consolidated financial statements, we are not aware of any specific event or circumstance that would require updates to our estimates and judgments or revisions due to COVID-19 to the carrying value of our

assets or liabilities. These estimates may change, as new events occur and additional information is obtained, and are recognized in the combined consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the combined consolidated financial statements.

Revenue Recognition

Under Topic 605, we recognized revenue when persuasive evidence of an arrangement exists, delivery has occurred, title has transferred, the price becomes fixed or determinable and collectability is reasonably assured. Evidence of an arrangement existed when there is a customer contract or a standard customer purchase order. We considered delivery complete when title and risk of loss transfer to the customer, which is generally upon shipment, but no later than physical receipt by the customer.

On January 1, 2019 we adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of December 31, 2018. Results for reporting periods beginning after December 31, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported under Topic 605.

Under Topic 606, we determine revenue recognition through the following steps:

•

identification of the contract, or contracts, with the customer

•

identification of the performance obligations in the contract

•

determination of the transaction price

•

allocation of the transaction price to the performance obligations in the contract, and

•

recognition of revenue when, or as the performance obligation is fulfilled

With the adoption of Topic 606, revenue is recognized when performance obligations are satisfied under the terms of the contracts, and control of the products is transferred to the customers in an amount that reflects the consideration we expect to receive from the customers in exchange for those products or services. Generally, the control of the products is transferred to the customer occurs upon shipment or delivery to customer.

Our revenue recognition policies are consistent worldwide.

Our products are primarily sold through a network of distributors and retailers, including online retailers, and to a lesser extent direct to consumers. We sell hardware products, such as gamer and creator peripherals and gaming components and systems. These products are hardware devices, which may include embedded software that function together, and are considered as one performance obligation. Hardware devices are generally plug and play, requiring no configuration and little or no installation. Revenue is recognized at a point in time when control of the products is transferred to the customer which generally occurs upon shipment or delivery to customer. We report revenue net of any required taxes collected from customers and remitted to government authorities, with the collected taxes recorded as other liabilities and accrued expenses until remitted to the relevant government authority.

Shipping and handling costs associated with outbound freight are accounted for as a fulfillment cost and are included as part of our distribution costs recorded under sales, general and administrative expenses. Costs of maintaining our web store and credit card processing fees related to sales on our webstore are recorded under sales, general and administrative expenses.

We generally provide a warranty on products that provides assurance that our products conform to published specifications. Such assurance-type warranties are not deemed to be separate performance obligations from the product, and costs associated with providing the warranties are accrued in accordance with ASC 460-10, Guarantees.

We offer return rights and customer incentive programs. Customer incentive programs include special pricing arrangements, promotions, rebates and volume-based incentives.

We have agreements with certain customers that contain terms allowing price protection credits to be issued in the event of a subsequent price reduction. Our decision to make price reductions is influenced by product life cycle stage, market acceptance of products, the competitive environment, new product introductions and other factors. Accruals for estimated expected future pricing actions are recognized at the time of sale based on analysis of historical pricing actions by customer and by product, inventories owned by and located at distributors and retailers, current customer demand, current operating conditions, and other relevant customer and product information, such as stage of product life-cycle.

The transaction price received by us from sales to distributors and retailers is calculated as selling price net of variable consideration which may include product returns, price protection, and our estimate of claims for customer incentive programs related to current period product revenue.

Rights of return vary by customer and range from the right to return products to limited stock rotation rights allowing the exchange of a percentage of the customer’s quarterly purchases. Estimates of expected future product returns qualify as variable consideration and are recorded as a reduction of the transaction price of the contract at the time of sale based on historical return trends. Return trends are influenced by product life cycle status, new product introductions, market acceptance of products, sales levels, the type of customer, seasonality, product quality issues, competitive pressures, operational policies and procedures, and other factors. Return rates can fluctuate over time but are sufficiently predictable to allow us to estimate expected future product returns.

We normally require payments from customers within 30 to 90 days from invoice date. We do not generally modify payment terms on existing receivables. Our contracts with customers typically do not include significant financing components as the period between the satisfaction of the performance obligations and timing of payment are generally within one year.

Customer incentive programs are considered variable consideration, which we estimate and record as a reduction to revenue at the time of sale based on historical experience and forecasted incentives. Certain customer incentives require management to estimate the percentage of those programs which will not be claimed or will not be earned by customers based on historical experience and on the specific terms and conditions of particular programs. The percentage of these customer programs that will not be claimed or earned is commonly referred to as “breakage”. We account for breakage as part of variable consideration, subject to constraint, and record the estimated impact in the same period when revenue is recognized at the expected value. Significant management judgment and estimates are used to determine the amount of variable consideration to be recognized, as well as any subsequent adjustments to it, such that it is probable that a significant reversal of revenue will not occur.

During the years ended December 31, 2020 and 2019, we did not recognize any material revenue adjustments related to performance obligations satisfied in prior periods as a result of changes in estimated variable consideration. Because performance obligations in our contracts with customers relate to contracts with a duration of less than one year, we have elected to apply the optional exemption to not disclose the aggregate amount of the transaction price allocated to performance obligations that are unsatisfied or partially unsatisfied at the end of the reporting period.

Cost of Revenue

Cost of revenue consists of product costs, including costs of contract manufacturers, inbound freight costs from manufacturers to our distribution hubs, as well as inter-hubs shipments, duties and tariffs, warranty replacement costs, costs to process and rework returned items, depreciation of tooling equipment, warehousing costs, excess and obsolete inventory write-downs, certain allocated costs related to facilities and IT department, and personnel-related expenses and other operating expenses related to supply chain logistics.

Distribution Costs

Distribution costs, recorded as a component of sales, general and administrative expenses, include the costs to operate two of our distribution hubs internally and the costs paid to third-party logistics providers to operate our remaining four distribution hubs. Distribution costs also include the costs of shipping products to customers through third party carriers. Amounts billed to customers for shipping and handling of products are recorded in net revenue. We do not consider distribution costs to be part of the costs to bring our products to the finished condition and therefore record such distribution costs as sales, general and administrative expense rather than in cost of revenue.

Product Development Costs

Product development costs are generally expensed as incurred and reported in the combined consolidated statements of operations. Product development costs consist primarily of the costs associated with the design and testing of new products and improvements to existing products. These costs relate primarily to compensation of personnel and consultants involved with product design, definition, compatibility testing and qualification. To date, almost all of the software development costs have been expensed as incurred because the period between achieving technological feasibility and the release of the software has been short and development costs qualifying for capitalization have been insignificant.

Advertising Costs

Advertising costs are expensed as incurred and are included as a component of sales, general and administrative expense in the combined consolidated statements of operations. Advertising and promotion expenses were $19.1 million, $11.3 million, and $8.7 million for the years ended December 31, 2020, 2019, and 2018, respectively.

Stock-Based Compensation

We measure and recognize compensation for all stock-based compensation awards, including stock options and restricted stock units (“RSU”), based upon the grant-date fair value of those awards. The fair value of our stock option awards is estimated at grant date using a Black-Scholes-Merton option-pricing model. The fair value of our RSUs is calculated based on the market value of our stock at the grant date. Stock-based compensation is recognized on a straight-line basis over the requisite service period based on awards ultimately expected to vest. We have elected to recognize actual forfeitures by reducing the stock-based compensation in the same period as the forfeitures occur.

Segments

Operating segments are based on components of a company that engage in business activity that earn revenue and incur expenses and (a) whose operating results are regularly reviewed by its chief operating decision maker (“CODM”) to make decisions about resource allocation and performance and (b) for which discrete financial information is available.

We have two reportable segments:

•

Gamer and Creator Peripherals, which includes high-performance gaming keyboards, mice, headsets, controllers, and our gaming gear including capture cards, Stream Decks, USB microphones, studio accessories and EpocCam software, as well as coaching and training services, among others.

•

Gaming Components and Systems, which includes high performance power supply units, or PSUs, cooling solutions, computer cases, DRAM modules, as well as high-end prebuilt and custom-built gaming PCs, among others.

Our CODM is determined to be Corsair’s Chief Executive Officer. The results of the reportable segments are derived directly from our reporting system and are based on the methods of internal reporting which are not necessarily in conformity with GAAP. The segmental net revenue and gross profit are used to evaluate the performance of, and allocate resources to, each of the segments.

Cash and Restricted Cash

Total restricted cash as of December 31, 2020 and 2019 was $4.0 million and $3.8 million, respectively. The restricted cash serves as collateral for certain bank guarantees, customer deposits and security deposits.

Accounts Receivable, net

Accounts receivable from contracts with customers are recorded at the invoiced amount when we have an unconditional right to consideration, net of allowance for credit losses. We maintain trade credit insurance to mitigate credit risks on certain of our accounts receivable that reimburse us for up to 90% of collection losses. We estimate an allowance for credit losses by using a combination of relevant information including historical loss information, adjusted to take into account current market conditions and our customers’ financial condition, the amount of any receivables in dispute, the current receivables aging, and the current payment terms.

Concentration of Credit Risk

Our financial instruments that are exposed to concentrations of credit risk consist principally of cash, restricted cash and accounts receivable. We maintain our cash and restricted cash with various high-quality financial institutions with investment-grade ratings and we have not experienced any losses.

One customer accounted for more than 10% of our consolidated net revenue for the years ended December 31, 2020, 2019 and 2018.

As of December 31, 2020, and 2019, two customers each represented more than 10% of our accounts receivable, net.

Inventories

Inventories primarily consist of finished goods and to a lesser extent component parts, which are purchased from contract manufacturers and component suppliers. Inventories are stated at lower of cost and net realizable value using the weighted average cost method of accounting. We assess the valuation of inventory balances including an assessment to determine potential excess and/or obsolete inventory. We may be required to write down the value of inventory if estimates of future demand and market conditions indicate estimated excess or obsolete inventory. For the periods presented, we have not experienced significant write-downs.

Property and Equipment, net

Property and equipment are stated at cost, less accumulated depreciation. Major improvements that extend the life, capacity or improve the safety of an asset are capitalized, while maintenance and repairs are expensed as incurred. Depreciation is calculated on the straight-line method over the estimated useful lives of the assets, determined to be two to seven years. Leasehold improvements are amortized over the shorter of the remaining lease term or the estimated useful lives of the improvements.

Fair Value of Financial Instruments

U.S. GAAP establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The hierarchy is broken down into the following three levels of inputs that may be used to measure fair value:

Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the measurement date.

Level 2—Pricing inputs are other than quoted prices in active market, which are either directly or indirectly observable as of the report date. The nature of these securities includes investments for which quoted prices are available but traded less frequently and investments that are fair valued using other securities, the parameters of which can be directly observed.

Level 3—Securities that have little to no pricing observability as of the report date. These securities are measured using management’s best estimate of fair value, where the inputs into the determination of fair value are not observable and require significant management judgment or estimation.

Fair value accounting is applied to all financial assets and liabilities that are recognized or disclosed at fair value in our combined consolidated financial statements on a recurring basis. Our financial instruments, including cash, restricted cash, accounts receivable, accounts payable, borrowings from credit lines and other liabilities and accrued expenses approximate fair value due to their short-term maturities. Management believes that the long-term debt bearing variable interest rates represents the prevailing market rates for instruments with similar characteristics; accordingly, the carrying value of this instrument approximates its fair value.

Business Combinations

We account for business combinations using the acquisition method of accounting, which requires that the assets acquired, liabilities assumed, contractual contingencies and contingent consideration are recorded at the date of acquisition at their respective fair values. Goodwill is recorded when consideration paid in a purchase acquisition exceeds the fair value of the net assets acquired. Amounts recorded in a business combination may change during the measurement period, which is a period not to exceed one year from the date of acquisition, as additional information about conditions existing at the acquisition date becomes available. We include the results of operations of the acquired business in the combined consolidated financial statements prospectively from the date of

acquisition. Acquisition-related charges, including primarily third-party professional fees, accounting fees and legal fees are recognized separately from the business combination and are expensed as incurred.

Goodwill and Intangible Assets

Goodwill represents the excess purchase price over the estimated fair value of net assets acquired in a business combination. Identifiable intangible assets with finite lives are carried at cost and amortized using a method that reflects the pattern in which the economic benefits of the intangible asset are consumed or otherwise used up or, if that pattern cannot be reliably determined, using a straight-line amortization method. Amortization expense related to patents is included in cost of revenues. Amortization expense related to developed technology is included in product development costs. Amortization expense related to customer relationships, trade name and non-compete agreements is included in sales, general and administrative costs.

For definite-lived intangible assets, we evaluate the recoverability of intangible assets for impairment whenever events or circumstances indicate that the carrying amount of such assets may not be recoverable. Recoverability of these assets is measured by a comparison of the carrying amounts to the future undiscounted cash flows the assets are expected to generate. If the carrying amount exceeds the fair value, an impairment charge is recognized in an amount equal to that excess. No such impairment charges were recorded in the periods presented.

We test for goodwill impairment at the reporting unit level on an annual basis at October 1, or more frequently if events or changes in circumstances indicate that the asset is more likely than not impaired. In reviewing goodwill for impairment, we have the option to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not (greater than 50%) that the estimated fair value of a reporting unit is less than its carrying amount. We also may elect not to perform the qualitative assessment and, instead, proceed directly to the quantitative impairment test. The ultimate outcome of the goodwill impairment review for a reporting unit should be the same whether we choose to perform the qualitative assessment or proceeds directly to the quantitative impairment test.

A qualitative assessment requires that we consider events or circumstances including macroeconomic conditions, industry and market considerations, cost factors, overall financial performance, changes in management or key personnel, changes in strategy, changes in customers, changes in the composition or carrying amount of a reporting segment’s net assets and changes in our stock price. If, after assessing the totality of events or circumstances, we determine that it is more likely than not that the fair values of our reporting units are greater than the carrying amounts, then the quantitative goodwill impairment test is not performed.

For the year ended December 31, 2020, we elected to perform the qualitative assessment and determined that an impairment was not more likely than not and no further analysis was required.

Warranty Reserve

All of our products are covered by warranty to be free from defects in material and workmanship for periods ranging from six months to five years, and for life for memory products. Our warranty does not provide a service beyond assuring that the product complies with agreed-upon specifications and is generally not sold separately. At the time of sale, an estimate of future warranty costs is recorded as a component of cost of revenue and a warranty liability is recorded for estimated costs to satisfy the warranty obligation. The estimate of the costs to fulfill our warranty obligations is based on historical experience and expectations of future costs to repair or replace.

Deferred Issuance Costs and Debt Discounts

Costs incurred in obtaining long-term financing paid to parties other than creditors are considered a debt issuance cost. Amounts paid to creditors are recorded as a reduction in the proceeds received by the creditor and are considered a discount on the issuance of debt. Deferred issuance costs and debt discounts are amortized over the terms of the long-term financing agreements using the effective-interest method and recorded as a deduction of the carrying amount of the debt in the combined consolidated balance sheets. Deferred issuance costs of our revolving line of credit are recorded in prepaid expenses and other current assets and other assets, according to the timing of amortization.

Nonmonetary Transactions

The sales and purchases of inventory with our manufacturers are accounted for as nonmonetary transactions. Upon sale of raw materials to the manufacturer, for the inventories on-hand with the manufacturer where there is an anticipated reciprocal purchase by us, we will record this nonmonetary transaction as prepaid inventories and accrued liabilities. When we transact the reciprocal purchase of inventory from the manufacturer, we will record a payable to the manufacturer at the repurchase price, which replaces the initial nonmonetary transaction and inventory will be reflected at carrying value, which includes the costs for the raw materials and the incremental costs charged by the manufacturer for additional work performed on the inventory. As of December 31, 2020, and 2019, we recognized $5.9 million and $0.8 million, respectively, in prepaid inventories and accrued liabilities in the combined consolidated balance sheet related to such nonmonetary transactions with our manufacturers.

Because the transactions are nonmonetary, they have not been included in the combined consolidated statements of cash flows pursuant to ASC 230, Statement of Cash Flows.

Foreign Currency

For subsidiaries that have non-U.S. dollar functional currencies, the assets and liabilities of these subsidiaries are translated using period-end exchange rates. Revenues and expenses are translated using average exchange rates in effect during the reporting period. Cumulative translation gains and losses are included as a component of stockholders’ equity in accumulated other

comprehensive loss.

Monetary assets or liabilities denominated in currencies other than the functional currency are remeasured using exchange rates prevailing on the balance sheet date. Foreign currency remeasurement gains and (losses), net is included in other (expense) income, net in the combined consolidated statements of operations and the amounts were $1.6 million, $1.4 million and $(0.4) million for the years ended December 31, 2020, 2019 and 2018, respectively. These amounts do not include the change in fair value of our foreign currency forward contracts. Refer to Note 4, Derivative Financial Instruments for more information on our hedging instruments.

Gains and losses on long-term intercompany loans not intended to be repaid in the foreseeable future are recorded in other comprehensive loss.

Income Taxes

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the tax and financial reporting bases of our assets and liabilities. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in future years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced through the establishment of a valuation allowance, if, based upon available evidence, it is determined that it is more likely than not that the deferred tax assets will not be realized. We are subject to foreign income taxes on our foreign operations. All deferred tax assets and liabilities are classified as non-current in the combined consolidated financial statements.

Uncertain Tax Positions

We recognize the effect of income tax positions only if those positions are more likely than not of being sustained on examination based on the technical merit of the position. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates it is more likely than not that the position will be sustained on examination, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount, which is more than 50% likely of being realized upon ultimate settlement.

We consider many factors when evaluating and estimating our tax positions and tax benefits, which may require periodic adjustments. Interest charges and penalties related to unrecognized tax benefits are recognized as a component of the income tax (expense) benefit.

Net Income (Loss) per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares outstanding during the period, without consideration of potential dilutive securities. Diluted net income per share is computed based

on the weighted-average number of shares outstanding during the period, adjusted to include the incremental shares expected to be issued for assumed exercise of options under the treasury stock method.

Recently Adopted Accounting Pronouncements

In February 2016, the FASB issued ASU No. 2016-02, Leases, and subsequent updates (collectively, referred to as Accounting Standard Codification 842 or Topic 842). Topic 842 requires a lessee to recognize right of use (“ROU”) assets and lease liabilities on the combined consolidated balance sheet and to disclose key information related to the leasing arrangements.

On January 1, 2020, we adopted Topic 842 using the modified retrospective method, applying Topic 842 to all leases existing at the date of initial application. We elected to use the effective date as the date of initial application. Consequently, prior period balances and disclosures have not been restated. We elected the package of transitional practical expedients, which among other provisions, allows us to carry forward prior conclusions about lease identification and classification. In addition, for operating leases, we elected to account for lease and non-lease components as a single lease component. We also made an accounting policy election not to apply the recognition guidance of Topic 842 to record all leases that, at the lease commencement date, have a lease term of 12 months or less on the combined consolidated balance sheet.

The adoption of Topic 842 had a material impact to our combined consolidated balance sheet but did not have an impact on our combined consolidated statements of operations or cash flows. As a result of adopting Topic 842 as of January 1, 2020, we recognized lease liabilities of $17.9 million and corresponding ROU assets of $17.7 million. See Note 17, Leases, for additional information.

In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which was further updated and clarified by the FASB through issuance of additional related ASUs. ASU 2016-13 replaces the incurred-loss impairment methodology and requires immediate recognition of estimated credit losses expected to occur for most financial assets, including trade receivables. We adopted this standard effective January 1, 2020 using a modified retrospective approach. The adoption of this new standard did not have a material impact on our combined consolidated financial statements.

In January 2017, the FASB issued ASU No. 2017-04, Intangibles – Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment. The ASU simplifies the subsequent measurement of goodwill by eliminating the second step of the goodwill impairment test. The second step measures goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. Under the new guidance, a company will record an impairment charge based on the excess of a reporting unit’s carrying amount over its fair value. We adopted this standard effective January 1, 2020. The adoption of this new standard did not have a material impact on our combined consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820), to modify certain disclosure requirements on fair value measurements in Topic 820. We adopted this standard effective January 1, 2020. The adoption of this new standard did not have a material impact on our combined consolidated financial statements.

In August 2018, the FASB issued ASU No. 2018-15, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract. The amendments in ASU 2018-15 align the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. As permitted by ASU 2018-15, we early-adopted this standard on a prospective basis beginning January 1, 2019. The adoption of this ASU did not have a material impact on our combined consolidated financial statements.

Recently Issued Accounting Pronouncements, Not Yet Adopted

In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740), to simplify various aspects related to the accounting for income taxes. The new guidance is effective for us beginning in year 2021. We do not anticipate the adoption of this accounting standard update will have a material impact on our combined consolidated financial statements.

In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848), to provide optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The new guidance is effective, at our election, beginning March 12, 2020 through

December 31, 2022. Our term loan and revolving line of credit have interest payments that are correlated to a reference rate, and we are currently evaluating the impact of adopting this guidance and the potential effects it could have on our combined consolidated financial statements.

Fair Value Measurement

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value Measurement

3. Fair Value Measurement

The following tables summarize our financial assets and liabilities that were measured at fair value on a recurring basis, and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value:

	December 31, 2020
	(Level 1)		(Level 2)		(Level 3)		Total

	(in thousands)
Liabilities:
Contingent cash consideration in connection with a business acquisition—Origin⁽¹⁾	$	—	$	—	$	2,887	$	2,887
Contingent cash consideration in connection with a business acquisition—SCUF⁽²⁾		—		—		1,250		1,250
Deferred cash consideration in connection with a business acquisition—Origin⁽³⁾		—		—		1,505		1,505
Foreign currency forward contracts⁽⁴⁾		—		819		—		819
Total liabilities	$	—	$	819	$	5,642	$	6,461

	December 31, 2019
	(Level 1)		(Level 2)		(Level 3)		Total

	(In thousands)
Liabilities:
Contingent cash consideration in connection with a business acquisition—Origin⁽¹⁾	$	—	$	—	$	3,964	$	3,964
Contingent consideration in connection with a business acquisition—SCUF⁽²⁾		—		—		1,638		1,638
Deferred cash consideration in connection with a business acquisition—Origin⁽³⁾		—		—		1,411		1,411
Foreign currency forward contracts⁽⁴⁾		—		335		—		335
Total liabilities	$	—	$	335	$	7,013	$	7,348

(1)

The fair value of the Origin earn-out liability is estimated at acquisition date using a Monte Carlo Simulation, a simulation-based measurement technique with significant inputs that are not observable in the market and thus represents a level 3 fair value measurement. The significant inputs in the fair value measurement not supported by market activity included the expected future standalone EBITDA of Origin during the earn-out period, appropriately discounted by a risk adjustment factor, considering the uncertainties associated with the obligation, its associated volatility, and calculated in accordance with the terms of the Unit Purchase Agreement for this acquisition. As a result of fair value remeasurements on the Origin earnout liability, we have recorded a charge of $1.0 million and a credit of $0.6 million in the year ended December 31, 2020 and 2019, respectively to our sales, general and administrative expenses. The earn-out liability of $2.4 million based on Origin’s 2019 standalone EBITDA was fully paid in April 2020. The remaining earnout liability of $2.9 million, determined based on the contractual amount, will be paid in 2021.

(2)

The fair value of the SCUF contingent consideration was determined based on the estimates of acquired tax benefits owed to SCUF’s sellers according to the merger agreement. These estimates involve unobservable inputs and thus represent a level 3 fair value measurement. The $1.6 million liability as of December 31, 2019 was subject to update upon filing our tax returns for tax years 2019 through 2021. The $1.3 million liability as of December 31, 2020 is consisted of $0.1 million based on contractual amount and the remaining $1.2 million is subject to update upon filing our tax returns for tax years 2020 and 2021.

(3)

The fair value of Origin’s deferred cash consideration is determined at the Origin acquisition date by using the contractual cash payments and a discount rate of 6.5%. This discount rate approximated our borrowing rate under the revolving line of credit at the acquisition date and represented a Level 3 input under the fair value hierarchy. This liability was fully repaid in January 2021.

(4)	The fair values of the forward contracts and interest rate cap contract are based on similar exchange traded derivatives and the related asset or liability is, therefore, included within Level 2 of the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Derivative Financial Instruments

12 Months Ended

Dec. 31, 2020

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

4. Derivative Financial Instruments

From time to time, we enter into derivative instruments such as foreign currency forward contracts, to minimize the short-term impact of foreign currency exchange rate fluctuations on certain foreign currency denominated assets and liabilities, and interest rate

cap contracts, to minimize our exposure to interest rate movements on our variable rate debts. The derivative instruments are recorded at fair value in prepaid expenses and other current assets or other liabilities and accrued expenses on the combined consolidated balance sheets. We do not designate such instruments as hedges for accounting purposes; accordingly, changes in the value of these contracts are recognized in each reporting period in other (expense) income, net in the combined consolidated statements of operations. We do not enter into derivative instruments for trading purposes.

The foreign currency forward contracts generally mature within three to four months. The notional principal amount of outstanding foreign exchange forward contracts was $41.6 million and $18.3 million as of December 31, 2020 and December 31, 2019, respectively. The fair value gain (loss) recognized in other (expense) income, net in relation to these derivative instruments was $(3.0) million, $(0.2) million, and $0.1 million for the year ended December 31, 2020, 2019, and 2018, respectively.

We entered into interest rate contracts in 2020 and the contracts mature on June 30, 2022. We recognized $0.5 million net loss for the change in fair value of the interest rate contracts in interest expense for the year ended December 31, 2020.

Business Combinations

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Business Combinations

5. Business Combinations

2020 Immaterial Acquisitions

For the year ended December 31, 2020, we completed two immaterial acquisitions, EpocCam and Gamer Sensei, for total cash consideration of $1.3 million, which were accounted for using the acquisition method of accounting.

2019 Acquisition

SCUF Acquisition

On December 19, 2019 (the “SCUF Acquisition Closing Date”), one of our subsidiaries entered into an Agreement and Plan of Merger with Scuf Holdings, Inc. and subsidiaries (collectively “SCUF”) and acquired 100% of their equity interests (the “SCUF Acquisition”). SCUF, headquartered in Georgia, U.S., specializes in delivering high-performance accessories and customized gaming controllers for consoles and PCs used by top professionals as well as casual gamers. We believe that the SCUF Acquisition will enhance our product and service offerings to both console and PC gamers.

Because the acquired companies met the definition of a business, the SCUF Acquisition has been accounted for as a business combination using the acquisition method of accounting.

Subsequent to the SCUF Acquisition Closing Date, we recorded measurement period adjustments which reduced purchase price, inventories and goodwill by $1.8 million, $0.5 million and $1.3 million, respectively, and accordingly, the SCUF Acquisition total adjusted purchase consideration was $136.0 million. The SCUF Acquisition purchase consideration consisted of (i) $128.2 million cash consideration (including the payment of SCUF’s transaction costs and debt on behalf of SCUF), (ii) $8.0 million equity consideration (an issuance of approximately 1.1 million equivalent shares of our common stock immediately post-Reorganization and prior to the exchange agreements described in Note 1), (iii) $1.3 million estimated contingent cash consideration relating to our expected utilization of the acquired SCUF tax liabilities or tax benefits relating to pre-acquisition SCUF results in our taxable periods from 2019 to 2021, (iv) additional cash earn-out based on the achievement of certain SCUF standalone EBITDA targets for 2019 and the ability of SCUF to renew a licensing agreement with a certain vendor, which were determined to have zero value based on the assessment of the outcome of these contingent events on the SCUF Acquisition Closing Date, and (v) net of $1.5 million contingent cash consideration paid on the SCUF Acquisition Closing Date that is expected to be returned by the sellers to us to fund an incentive payment to certain ex-SCUF employees who joined Corsair and are required to remain employed through a contractual service period.

Final purchase price allocation

The following table summarizes the final allocation of the purchase consideration to the estimated fair value of the assets acquired and liabilities assumed at the SCUF Acquisition Closing Date.

	(In thousands)
Assets acquired:
Cash	$	6,947
Accounts receivable		4,587
Inventories		12,800
Prepaid and other assets		1,377
Identifiable intangible assets		71,890
Property and equipment		2,927
Other assets		40
Liabilities assumed:
Accounts payable		(9,182	)
Sales tax payable		(5,533	)
Deferred revenue		(3,752	)
Other liabilities and accrued expenses		(8,416	)
Deferred tax liabilities		(10,015	)
Net identifiable net assets acquired	$	63,670
Goodwill		72,339
Net assets acquired	$	136,009

The fair value of the inventory acquired was estimated using the expected selling price of the inventory, then deducting direct selling expenses and a reasonable allocation of profit to a likely buyer. The difference between the fair value of the inventories and the amount recorded by SCUF immediately before the acquisition date was $1.5 million, which was recognized in cost of revenue in the combined consolidated statements of operations upon the sale of the acquired inventory.

The excess of the purchase price over the net tangible assets and intangible assets was recorded as goodwill at $72.3 million, is primarily related to the value of the acquired workforce and the ability to design and generate revenue from future technology and customers. The goodwill and identifiable intangible assets are not deductible for tax purposes.

The following table summarizes the components of identifiable intangible assets acquired and their estimated useful lives as of the SCUF Acquisition Closing Date:

	Fair Value		Weighted Average Useful Life
	(In thousands)		(In years)
Patents	$	30,500		8
Developed technology		18,600		6
Customer Relationships		590		5
Trade name		22,200		15
Total identifiable intangible assets	$	71,890

Intangible assets acquired as a result of the SCUF Acquisition are being amortized over their estimated useful lives using the straight-line method of amortization, which reflects the pattern in which the economic benefits of the intangible asset are consumed or otherwise used up. Amortization expenses of patent and developed technology are included in cost of revenue and product development expense, respectively. Amortization expenses of customer relationships and trade names are included in sales, general and administrative expense in the combined consolidated statements of operations.

Origin Acquisition

On July 22, 2019 (the “Origin Closing Date”), one of our subsidiaries acquired all the equity interests in Origin PC Corporation (“Origin” and such acquisition, the “Origin Acquisition”). Origin, based in Florida, U.S., specializes in delivering hand-built, personalized PCs. We believe the integration of Origin’s expertise in personalized custom gaming systems and Corsair’s strength in performance PC hardware and the iCUE software ecosystems enhances and expands our product and service offerings to PC gamers.

Origin met the definition of a business, and therefore this acquisition is accounted for as a business combination.

Subsequent to the Origin Closing Date, we recorded measurement period adjustments which increased the purchase price by $0.2 million and reduced other liabilities and accrued expenses by $0.3 million and goodwill by $0.1 million, and accordingly, the Origin Acquisition total adjusted purchase consideration was $13.8 million. The Origin Acquisition purchase consideration consisted of (i) $5.5 million cash consideration (including the payment of Origin’s transaction costs and debt on behalf of Origin), (ii) $2.0 million equity consideration provided by Corsair (which was immediately exchanged for approximately 0.2 million equivalent shares of our common stock immediately post-Reorganization and prior to the exchange agreements described in Note 1), (iii) $1.4 million deferred cash consideration payable 18 months after closing, not contingent on any future conditions, (iv) $4.6 million of additional cash earn-out based on the achievement of certain Origin standalone EBITDA targets for 2019 and 2020, and (v) $0.3 million estimated contingent cash consideration relating to the finalization of pre-acquisition sales tax liabilities owed to Origin’s sellers according to the terms of the Origin Unit Purchase Agreement.

The final allocation of the Origin Acquisition purchase consideration to the estimated fair value of the assets acquired and liabilities assumed at the acquisition date is as follows:

	(In thousands)
Assets acquired:
Cash, net of cash acquired	$	376
Accounts receivable		1,379
Inventories		4,445
Prepaid and other assets		309
Identifiable intangible assets (customer relationship with estimated 6 years of useful life)		1,000
Property and equipment		140
Liabilities assumed:
Accounts payable		(2,670	)
Other liabilities and accrued expenses		(3,033	)
Other liabilities, noncurrent		(447	)
Net identifiable assets acquired		1,499
Goodwill		12,270
Net assets acquired	$	13,769

The goodwill and identifiable intangible assets are deductible for tax purposes.

The estimated fair value of Origin’s contingent earn-out based on Origin’s standalone 2019 and 2020 EBITDA was decreased from $4.6 million at the Origin Closing Date to $4.0 million at December 31, 2019 primarily resulting from Origin’s lower-than-expected EBITDA for 2020. The earn-out liability of $2.4 million based on Origin’s 2019 EBITDA was fully paid in April 2020. The remaining earn-out liability was remeasured based on Origin’s actual 2020 EBITDA and increased from $1.6 million to $2.6 million as of December 31, 2020 due to improvement in Origin’s financial performance primarily from higher-than-expected revenue. The 2020 earn-out liability is expected to be paid in 2021. As a result, the $0.6 million decrease and the $1.0 million increase in the fair value of the Origin earn-out liability was recorded to sales and general administrative expenses in our combined consolidated statement of operations in 2019 and 2020, respectively.

Acquisition-related costs

We incurred acquisition-related costs of approximately $1.0 million, $2.6 million and $1.5 million for the years ended December 31, 2020, 2019 and 2018, respectively, and these costs are recorded in sales, general and administrative expenses in the combined consolidated statement of operations.

Unaudited Pro Forma Financial Information

The following unaudited pro forma financial information combines the unaudited combined consolidated results of operations as if the SCUF Acquisition had occurred as of January 1, 2019:

	Year Ended December 31,
	2019
	(in thousands)
Net revenue	$	1,165,502
Net loss		(24,598	)

The unaudited pro forma adjustments to net loss primarily include amortization for intangible assets acquired, the purchase accounting effect on contract liabilities assumed and inventory acquired, acquisition-related costs and interest expense related to financing arrangements. The unaudited pro forma combined consolidated information is provided for informational purposes only and is not indicative of the results of operations that would have been achieved if the SCUF Acquisition and any borrowings undertaken to finance the SCUF Acquisition had taken place at the beginning of the periods presented.

Pro forma financial information for the Origin Acquisition was not prepared because the effects of the acquisition were not material to our combined consolidated statement of operations for 2019.

Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Goodwill

Goodwill represents the difference between the purchase price and the estimated fair value of the identifiable assets acquired and liabilities assumed. Goodwill is allocated among and evaluated for impairment at the reporting unit level, which is defined as an operating segment or one level below an operating segment. We have four reporting units: Gaming Peripherals, Gaming Components, Gaming Memory and Gaming Systems. The Gamer and Creator Peripherals segment includes the Gaming Peripherals reporting unit, and the Gaming Components and Systems segment includes the Gaming Components, Gaming Memory and Gaming Systems reporting units.

The following table summarizes the changes in the carrying amount of goodwill by reportable segment:

	Gaming Components and Systems			Gamer and Creator Peripherals			Total

	(In thousands)
December 31, 2018	$	133,063		$	93,616		$	226,679
Addition from business acquisitions		12,317			73,778			86,095
Effect of foreign currency exchange rates		(5	)		(19	)		(24	)
December 31, 2019	$	145,375		$	167,375		$	312,750
Addition from business acquisitions		—			690			690
Measurement period adjustments		(47	)		(1,326	)		(1,373	)
Effect of foreign currency exchange rates		316			377			693
December 31, 2020	$	145,644		$	167,116		$	312,760

Intangible assets, net

The following table is a summary of intangible assets, net:

			December 31, 2020						December 31, 2019
	Weighted Average Useful Life	Weighted Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(in years)	(In thousands)
Developed technology	5.6 years	4.3	$	31,016	$	8,892	$	22,124	$	44,243	$	17,536	$	26,707
Trade name	15.0 years	13.6		30,632		2,873		27,759		30,253		833		29,420
Customer relationships	10.0 years	6.6		218,469		72,892		145,577		218,459		50,916		167,543
Patent	7.9 years	6.9		31,802		4,207		27,595		30,721		130		30,591
Non-competition agreements	5.0 years	1.6		2,521		1,689		832		3,110		1,774		1,336
Total finite-life intangibles		7.3		314,440		90,553		223,887		326,786		71,189		255,597
Indefinite life trade name	Indefinite life			35,430		—		35,430		35,430		—		35,430
Total intangible assets			$	349,870	$	90,553	$	259,317	$	362,216	$	71,189	$	291,027

In the year after an identified intangible asset becomes fully amortized, we remove the fully amortized balances from the gross asset and accumulated amortization amounts from the table above.

Amortization expense of intangible assets is recognized in our combined consolidated statements of operations as follows:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Cost of revenue	$	3,898	$	130	$	—
Sales, general and administrative		24,535		23,035		22,746
Product development		5,483		6,958		8,147
Total amortization of intangible assets	$	33,916	$	30,123	$	30,893

The estimated future amortization expense of intangible assets as of December 31, 2020 is as follows:

	Amounts
	(in thousands)
2021	$	34,277
2022		34,101
2023		32,699
2024		31,253
2025		30,948
Thereafter		60,609
Total	$	223,887

Balance Sheet Components

12 Months Ended

Dec. 31, 2020

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

7. Balance Sheet Components

Cash and Restricted Cash

	December 31,
	2020		2019

	(In thousands)
Cash	$	129,543	$	48,165
Restricted cash—short term		3,795		3,552
Restricted cash—noncurrent		230		230
Total cash and restricted cash	$	133,568	$	51,947

Accounts Receivable, net	December 31,
	2020			2019

	(In thousands)
Accounts receivable	$	293,975		$	202,546
Allowance for credit losses		(346	)		(212	)
Accounts receivable, net	$	293,629		$	202,334

Inventories

	December 31,
	2020		2019

	(In thousands)
Raw materials	$	52,165	$	25,547
Work in progress		9,654		2,690
Finished goods		164,188		122,826
Inventories	$	226,007	$	151,063

Property and Equipment, Net

	December 31,
	2020			2019

	(In thousands)
Manufacturing equipment	$	22,035		$	15,291
Computer equipment, software and office equipment		9,407			6,958
Furniture and fixtures		3,675			2,602
Leasehold improvements		4,521			3,544
Total property and equipment	$	39,638		$	28,395
Less: Accumulated depreciation and amortization		(23,163	)		(13,030	)
Property and equipment, net	$	16,475		$	15,365

Other Liabilities and Accrued Expenses

	December 31,
	2020		2019

	(In thousands)
Accrued reserves for customer incentive programs	$	49,619	$	36,582
Accrued reserves for sales returns		35,673		24,610
Accrued payroll and related expenses		26,877		10,638
Income tax payable		22,445		8,524
Operating lease liabilities, current		9,070		—
Other		62,061		35,187
Other liabilities and accrued expenses	$	205,745	$	115,541

Contract Balances

Contract assets represent amounts that have been recognized as revenue but for which we did not have the unconditional right to invoice the customer. There were no contract assets as of December 31, 2020 and 2019.

Contract liabilities consist of deferred revenue and unearned revenue.

Deferred revenue consists primarily of amounts that have been shipped and invoiced but not recognized as revenue as of period end because the control of the inventory has not been passed to the customer. Revenue will be recognized when the customer has obtained control of the inventory sold, which is generally within 3 months or less. The current portion of deferred revenue balances are recognized over the next 12 months. As of December 31, 2020, the current and long-term portion of our deferred revenue was $1.8 million and $0.5 million, respectively. As of December 31, 2019, the current and long-term portion of our deferred revenue was $2.9 million and $0.4 million, respectively.

Unearned revenue consists of payments received from customers in advance of product shipment for our webstore orders. These orders are generally shipped within two weeks from order date and revenue will be recognized when the customer has obtained control of the inventory sold. The unearned revenue balance as of December 31, 2020 and 2019 was $8.0 million and $1.3 million, respectively, and the increase in unearned revenue from prior year was primarily due to higher backlog of webstore orders not yet shipped at the end of 2020 compared to 2019.

Unearned revenue and the current portion of deferred revenue are included in other liabilities and accrued expenses, and the long-term portion of deferred revenue is included in other liabilities on the combined consolidated balance sheets.

Debt

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Debt

8. Debt

First Lien Credit and Guaranty Agreement

On August 28, 2017, we entered into a syndicated First Lien Credit and Guaranty Agreement (“First Lien”) with various financial institutions. The First Lien originally provided a $235 million term loan (“First Lien Term Loan”) for a business acquisition and to repay existing indebtedness of the acquired company and a $50 million revolving line-of-credit (“Revolver”). The First Lien and the Revolver mature on August 28, 2024 and August 28, 2022, respectively. Subsequently, we entered into several amendments to the First Lien and the principal amount of the First Lien Term Loan was increased by $10 million in 2017 and increased by $115 million in each of 2018 and 2019, primarily to fund various business acquisitions and operational needs.

The First Lien Term Loan initially carried interest at a rate equal to, at our election, either the (a) greatest of (i) the prime rate, (ii) sum of the Federal Funds Effective Rate plus 0.5%, (iii) one month LIBOR plus 1.0% and (iv) 2%, plus a margin of 3.5%, or (b) the greater of (i) LIBOR and (ii) 1.0%, plus a margin of 4.5%. The Revolver initially bore interest at a rate equal to, at our election, either the (a) greatest of (i) the prime rate, (ii) sum of the Federal Funds Effective Rate plus 0.5%, (iii) one month LIBOR plus 1.0% and (iv) 2%, plus 3.5%, or (b) the greater of (i) LIBOR and (ii) 1.0%, plus a margin of 4.5%. As a result of the First Lien amendment in October 2018, the First Lien term loan and Revolver margin were both changed to range from 2.75% to 3.25% for base rate loans and to range from 3.75% to 4.25% for Eurodollar loans, based on our net leverage ratio. The effective interest rate of the First Lien Term Loan is 6.45%.

Additionally, new contingent repayment provisions were added in the First Lien amendment in October 2018. Five business days after the initial public offering (“IPO”) of our stock, we were required to prepay all amounts (principal and interest) outstanding under the Second Lien term loan. Concurrently, we also were required to prepay the First Lien Term Loan in an amount equal to the IPO proceeds, less the amount used to repay the Second Lien Term Loan, multiplied by 50%. Accordingly, in September 2020, with the IPO proceeds, we repaid the mandatory minimum amount of $55.8 million and made an additional $30.8 million voluntary repayment.

We may prepay the First Lien Term Loan and the Revolver at any time without premium or penalty other than customary LIBOR breakage. According to the Consolidated Excess Cash Flow clause as defined in the First Lien, in April 2020, we prepaid $2.6 million of the First Lien Term Loan. In the fourth quarter of 2020, we prepaid an additional $50.0 million of the First Lien Term Loan with our excess cash on hand.

The amendments to the First Lien were accounted for as loan modifications.

The following table summarizes the carrying value of the First Lien Term Loan:

	December 31,
	2020			2019

	(In thousands)
Principal amount outstanding	$	326,938		$	467,332
Less: Debt discount, net of amortization		(2,124	)		(3,850	)
Less: Debt issuance costs, net of amortization		(3,421	)		(5,825	)
Carrying amount	$	321,393		$	457,657

Our obligation under the First Lien is secured by substantially all of our personal property assets and those of our United States-organized subsidiaries, including intellectual property. The First Lien Term Loan includes customary restrictive covenants that impose operating and financial restrictions on Corsair, including restrictions on our ability to take actions that could be in our best interests. These restrictive covenants include operating covenants restricting, among other things, our ability to incur additional indebtedness, effect certain acquisitions or make other fundamental changes. As of December 31, 2020, we were in compliance with all covenants.

In addition, the First Lien contains events of default that include, among others, non-payment of principal, interest or fees, breach of covenants, inaccuracy of representations and warranties, cross defaults to certain other indebtedness, bankruptcy and insolvency events, material judgments and events constituting a change of control. Upon the occurrence and during the continuance of an event of default, interest on the obligations may accrue at an increased rate in the case of a non-payment or bankruptcy and insolvency and the lenders may accelerate our obligations under the First Lien Term Loan, except that acceleration will be automatic in the case of bankruptcy and insolvency events of default.

Second Lien Credit and Guaranty Agreement

On August 28, 2017, we also entered into a syndicated Second Lien Credit and Guaranty Agreement (“Second Lien”) with various financial institutions. The Second Lien initially provided a $65 million term loan (“Second Lien Term Loan”), with a maturity date of August 28, 2025, for a business acquisition and for general corporate operations purposes. The Second Lien Term Loan initially carried interest at a base rate equal to that of the First Lien loan, plus a margin of 7.25% for base rate loans and 8.25% for Eurodollar loans. In October 2017, we entered into an amendment to the Second Lien and the principal amount of the Second Lien Term Loan was reduced to $50 million and the applicable interest rate margins for both the base rate loans and Eurodollar loans were increased by 0.25%. The amendment to the Second Lien was accounted for as a loan modification.

We had the ability to prepay the Second Lien Term Loan any time after the first and second anniversary without premium or penalty. In the second and third quarters of 2020, with excess cash on hand, we repaid an aggregate of $50 million of the outstanding principal balance of the Second Lien Term Loan and following these repayments, the Second Lien Term Loan was fully repaid and all obligations and covenants thereunder were terminated.

The following table summarizes the carrying value of the Second Lien Term Loan:

	December 31,
	2020		2019

	(In thousands)
Principal amount outstanding	$	—	$	50,000
Less: Debt discount, net of amortization		—		(471	)
Less: Debt issuance costs, net of amortization		—		(1,374	)
Carrying amount	$	—	$	48,155

The following table summarizes the interest expense recognized for the First Lien and Second Lien:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Contractual interest expense for First Lien and Second Lien Term Loan	$	27,387	$	29,757	$	27,395
Contractual interest expense for Revolver		16		2,758		1,500
Amortization of debt discount		842		946		1,046
Amortization of debt issuance costs		1,790		2,043		2,258
Loss on debt extinguishment		4,114		—		—
Total interest expense recognized	$	34,149	$	35,504	$	32,199

The estimated future principal payments under our total long-term debt as of December 31, 2020 are as follows:

	Amounts
	(In thousands)
2021	$	—
2022		—
2023		—
2024		326,938
2025		—
Total debt	$	326,938
Less: Discount and debt issuance costs		(5,545	)
Total Debt, net of discount and debt issuance costs	$	321,393
Presented on the combined consolidated balance sheet under:
Current portion of debt, net	$	—
Debt, net	$	321,393

Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

9. Commitments and Contingencies

Product Warranties

Changes in our assurance-type warranty obligations were as follows:

	December 31,
	2020			2019

	(In thousands)
Beginning of the period	$	3,991		$	2,581
Balance assumed from business acquisitions		—			595
Warranty provision related to products shipped		7,201			5,996
Deductions for warranty claims processed		(5,327	)		(5,181	)
End of period	$	5,865		$	3,991

Unconditional Purchase Obligations

Our long-term non-cancelable purchase commitments consist primarily of multi-year contractual arrangements relating to subscriptions for cloud computing hosting arrangements for our enterprise resource planning (ERP) system and the related support services as well as marketing sponsorship. The total long-term non-cancelable purchase commitment as of December 31, 2020 were as follows:

	Amounts
	(In thousands)
2021	$	1,973
2022		2,099
2023		1,282
2024		1,263
2025		158
	$	6,775

Our total non-cancelable long-term purchase commitments outstanding as of December 31, 2019 was $1.9 million.

Letters of Credit

The letters of credit outstanding, in aggregate, was $2.0 million and $1.5 million as of December 31, 2020 and 2019, respectively. No amounts have been drawn upon the letters of credit for all periods presented.

Indemnification

In the ordinary course of business, we may provide indemnifications of varying scope and terms with respect to certain transactions. We have entered into indemnification agreements with directors and certain officers and employees that will require Corsair, among other things, to indemnify them against certain liabilities that may arise by reason of their status or service as directors, officers or employees. No demands have been made upon Corsair to provide indemnification under such agreements, and thus, there are no claims that we are aware of that could have a material effect on our combined consolidated balance sheets, statements of operations, or statements of cash flows. We currently have directors’ and officers’ insurance.

Stockholders’ Equity

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Stockholders’ Equity

10. Stockholders’ Equity

On December 19, 2019, we issued 7,046,049 equivalent shares of our common stock (following the Reorganization and prior to the exchange agreements described in Note 1), as a result of a capital call, for a total capital contribution of $53.5 million to fund the SCUF Acquisition.

During 2019, we issued an aggregate of 1,322,075 equivalent shares of our common stock (following the Reorganization and prior to the exchange agreements described in Note 1), as part of the consideration for business acquisitions. The common stock had an estimated fair value of $10.0 million, in aggregate, at the time of issuance. Refer to Note 5 for additional information regarding our acquisitions.

On September 15, 2020, we completed a Reorganization through a series of steps as discussed in Note 1. In connection with the Reorganization, we filed a certificate of amendment to our Amended and Restated Certificate of Incorporation which authorized 100,000,000 shares of our common stock for issuance, with a par value of $0.0001 per share and effected a 1-for-28,693.596843964 stock split resulting in there being 84,405,366 shares of Corsair’s common stock outstanding as of September 15, 2020.

On September 25, 2020, in connection with the closing of the IPO, we filed an Amended and Restated Certificate of Incorporation which increased the authorized shares of common stock for issuance to 300,000,000 and authorized 5,000,000 shares of preferred stock, with a par value of $0.0001 per share, for issuance. There were no shares of preferred stock outstanding as of December 31, 2020.

Equity Incentive Plans and Stock-Based Compensation

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity Incentive Plans and Stock-Based Compensation

11. Equity Incentive Plans and Stock-Based Compensation

Equity Incentive Plans

In 2017, the Parent adopted the 2017 Equity Incentive Program (the “2017 Plan”). The 2017 Plan was administered by the General Partner, EagleTree-Carbide (GP), LLC, who determines the types of awards to be granted, the number of units subject to the awards, the exercise price and the vesting requirements. Only our employees and directors participated in this program. In connection with the Reorganization discussed in Note 1, we assumed the 2017 Plan and all the outstanding options to acquire units of the Parent under the 2017 Plan were converted into options to purchase our common stock on a pro rata basis with an adjusted exercise price to reflect the assumption. No other modifications were made to the options and no further options will be granted under the 2017 Plan following the Reorganization.

In September 2020, we adopted the 2020 Incentive Award Plan (the “2020 Plan”), which became effective on September 22, 2020, the day prior to the first public trading date of our common stock. The 2020 Plan is the successor and continuation to the 2017 Plan. The 2020 Plan provides for the grant of stock options, stock appreciation rights, restricted stock awards, RSUs, performance awards and other forms of awards. Incentive stock options may be granted only to employees. All other awards may be granted to eligible employees, non-employee directors and consultants, at the discretion of our board of directors (the “Board”). Under the 2020 Plan, 5,125,000 shares of our common stock are initially reserved for issuance. The 2020 Plan reserve also includes any shares under the 2017 Plan and the 2020 Plan that may become available for issuance if the award terminates without the delivery of shares or if shares are tendered to satisfy the exercise price or tax withholding obligation with respect of the award. The 2020 Plan reserve increases annually on January 1 of each calendar year, starting on January 1, 2021 through January 1, 2030, by an amount equal to the lesser of (a) 4% of the shares outstanding on the last day of the immediately preceding fiscal year or (b) a smaller number of shares as determined by the Board; provided, however, no more than 75,000,000 shares of our common stock may be issued upon the exercise of incentive stock options.

All stock options under the 2017 Plan and the 2020 Plan are issued at exercise prices not less than the fair market value on the date of grant. RSUs have no exercise price. Both stock options and RSUs vest over a period of time as determined by the Board, generally four to five years, and expire ten years from date of grant. As of December 31, 2020, 4,759,890 shares were available for grant under the 2020 Plan.

Employee Stock Purchase Plan

In September 2020, we adopted the 2020 Employee Stock Purchase Plan (the “ESPP”), which became effective September 22, 2020, the day prior to the first public trading date of our common stock. The ESPP is intended to qualify under Section 423 of the U.S. Internal Revenue Service Code. The ESPP initially reserved 1,025,000 shares of our common stock for issuance. The ESPP reserve increases annually on January 1 of each calendar year, starting on January 1, 2021 through January 1, 2030, by an amount equal to the lesser of (a) 1% of the shares outstanding on the last day of the immediately preceding fiscal year or (b) a smaller number of shares as determined by the Board; provided, however, no more than 20,000,000 shares of our common stock may be issued under the ESPP.

The ESPP is designed to allow eligible employees to purchase shares of our common stock, at semi-annual intervals, with their accumulated payroll deductions. Under the ESPP, participants are offered the option to purchase shares of our common stock at a discount during a series of successive offering periods, the duration and timing of which will be determined by the ESPP administrator. The offering period may not be longer than 27 months in length. The option purchase price will be the lower of 85% of the closing trading price per share of our common stock on the first trading date of an offering period in which a participant is enrolled or 85% of the closing trading price per share on the purchase date, which will occur on the last trading day of each offering period. Employees may participate through payroll deductions of 1% to 15% of their earnings. No participant may purchase more than 5,000 shares in each offering period and may not subscribe for more than $25,000 in fair market value of shares of our common stock (determined based on the closing stock price on the enrollment date of each offering period) during any calendar year. The first offering period begins on January 1, 2021.

Stock Options Activities

The following table summarizes the stock option activities and related information for the year ended December 31, 2020:

	Outstanding Stock Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
						(In years)		(In thousands)
Balance as of December 31, 2019		8,790,000		$	4.86		8.1	$	24,949
Granted		1,922,187			9.21
Exercised		(326,450	)		4.14
Forfeited/cancelled		(174,000	)		6.16
Balance as of December 31, 2020		10,211,737		$	5.68		7.7	$	311,869
Vested and exercisable as of December 31, 2020		4,416,167		$	4.56		7.1	$	139,820

The total intrinsic value of options exercised for the years ended December 31, 2020, 2019 and 2018 were $1.5 million, $0.1 million and $15 thousand, respectively.

As of December 31, 2020, the unrecognized stock-based compensation cost related to outstanding unvested stock options was $14.7 million, which is expected to be recognized over a weighted average period of 2.9 years.

RSU Activities

The following table summarizes the RSUs activities and related information for the year ended December 31, 2020:

	Unvested RSUs			Weighted- Average Grant Date Fair Value Per Share

Balance as of December 31, 2019		—			—
Granted		171,755		$	28.66
Vested		(8,823	)		17.00
Forfeited/cancelled		(9,444	)		28.35
Balance as of December 31, 2020		153,488		$	29.35

The weighted-average grant date fair value of all RSUs granted during 2020 was $28.66 per share. The fair value of all RSUs vested during 2020 was $0.1 million.

As of December 31, 2020, the unrecognized stock-based compensation costs related to outstanding unvested RSUs was $ 4.3 million, which is expected to be recognized over a weighted average period of 3.6 year.

Stock-based Compensation

The following table summarizes stock-based compensation expense by line item in our combined consolidated statements of operations:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Cost of revenue	$	268	$	197	$	162
Sales, general and administrative		4,883		3,084		2,182
Product development		645		567		407
Total stock-based compensation expense	$	5,796	$	3,848	$	2,751

Valuation Assumptions

We estimate the fair value of the stock options on the date of grant using the Black-Scholes-Merton pricing model, with the following valuation assumptions:

	Year Ended December 31,
	2020		2019		2018
Weighted average grant date fair value of common stock (per share)	$	9.16	$	7.59	$	6.88
Expected term (years)		6.37		6.48		6.48
Expected volatility	35.8%-44.0%		34.3%-36.1%		33.4%-35.0%
Dividend yield		—		—		—
Range of risk-free interest rate	0.3%-1.8%		1.4-2.6%		2.7%-3.1%

Each of the inputs to the Black-Scholes-Merton pricing model, as discussed below, is subjective and generally requires significant judgment and estimation by management.

Fair Value of Common Stock—Prior to our IPO, the fair value was determined by our board of directors, with input from management and valuation reports prepared by third-party valuation specialists. Stock-based compensation for financial reporting purposes was measured based on updated estimates of fair value when appropriate, such as when additional relevant information related to the estimate became available in a valuation report issued as of a subsequent date. After our IPO, the fair value of each share of underlying common stock was based on the closing price of our common stock as reported on the date of the grant on The Nasdaq Global Select Market.

Expected Term—The expected term represents the period that stock options are expected to be outstanding. Since we do not have sufficient historical exercise data to provide a reasonable basis upon which to estimate expected term due to the limited period of time our common stock has been publicly traded, the simplified method is used to estimate the expected term of our stock options. The simplified method calculates the expected term as the average of the time-to-vesting and the contractual life of the stock option.

Expected Volatility—Since we do not have a trading history for our common stock, the expected volatility was derived from the historical stock volatilities of comparable peer public companies within our industry that are considered to be comparable to our business over a period equivalent to the expected term of the stock-based awards.

Risk-Free Interest Rate—The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the date of grant for zero-coupon U.S. Treasury notes with maturities approximately equal to the stock-based awards’ expected term.

Expected Dividend Rate—The expected dividend is zero as, other than the declaration and payment of a special one-time cash dividend of $85.0 million in March 2018, we have not paid nor do we anticipate paying any dividends on our common stock in the foreseeable future.

The expense is recognized over the requisite service period.

Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

12. Net Income (Loss) Per Share

Following the Reorganization, all share and per share information in this section has been revised as Corsair common share equivalents. The following table summarizes the calculation of basic and diluted net income (loss) per share:

	Year Ended December 31,
	2020		2019			2018

	(in thousands, except per share amounts)
Numerator
Net income (loss)	$	103,217	$	(8,394	)	$	(13,720	)
Denominator
Weighted-average shares used to compute net income (loss) per share, basic		86,256		76,223			75,458
Effect of dilutive securities		4,321		—			—
Weighted-average shares used to compute net income (loss) per share, diluted		90,577		76,223			75,458
Net income (loss) per share:
Basic	$	1.20	$	(0.11	)	$	(0.18	)
Diluted	$	1.14	$	(0.11	)	$	(0.18	)

Anti-dilutive potential common shares ⁽¹⁾		1,605		8,091			7,382

(1)

Potential common share equivalents were not included in the calculation of diluted net income per share as the effect would have been anti-dilutive.

Income Taxes

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Income Taxes

13. Income Taxes

Income (loss) before income tax consists of the following:

	Year Ended December 31,
	2020			2019			2018

	(In thousands)
Domestic	$	(1,190	)	$	(18,407	)	$	(15,887	)
Foreign operations		123,232			5,008			5,180
Income (loss) before income tax	$	122,042		$	(13,399	)	$	(10,707	)

Income tax (expense) benefit consists of the following:

	Year Ended December 31,
	2020			2019			2018

	(In thousands)
United States federal taxes:
Current	$	(363	)	$	(2,177	)	$	(1,029	)
Deferred		4,801			5,948			(209	)
State taxes:
Current		(1,313	)		(529	)		(113	)
Deferred		813			1,421			(64	)
Foreign taxes:
Current		(24,625	)		(3,824	)		(4,888	)
Deferred		1,862			4,166			3,290
Income tax (expense) benefit	$	(18,825	)	$	5,005		$	(3,013	)

The income tax (expense) benefit differs from the amount which would result by applying the applicable statutory deferral rate to income before income taxes as follows:

	Year Ended December 31,
	2020			2019			2018

	(In thousands)
Provision at federal statutory rate	$	(25,629	)	$	2,814		$	1,581
State taxes		(5,363	)		911			423
Foreign rate differential		10,185			300			439
Taxes on foreign operations		(1,776	)		(1,520	)		—
Research and development credits		1,534			—			—
Net operating loss		—			2,557			—
Change in valuation allowance		4,407			719			(5,411	)
Change in tax rate on deferred tax assets		(743	)		(469	)		(245	)
Expired capital losses and tax credits		—			—			368
Other		(1,440	)		(307	)		(168	)
Income tax (expense) benefit	$	(18,825	)	$	5,005		$	(3,013	)

The major drivers for the change in tax (expense) benefit in 2020 were a decrease in valuation allowance in 2020 as a result of the release of Federal valuation allowance due to anticipated increase in taxable income in future years from inclusion of foreign earnings under the Global Intangible Low-Taxed Income (“GILTI”) regime which the company has elected to account for as a period cost when incurred, the mix of income and losses in the various tax jurisdictions in which we operate, and the impact of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). The disclosure for foreign rate differential reflects the impact of the effective tax rate benefit from operations in jurisdictions where the applicable foreign tax rate is lower than the U.S. statutory rate. We were not subject to any tax holidays or tax holiday terminations subject to disclosure during these periods that impacted loss per share.

Deferred tax assets and liabilities comprise the following:

	December 31,
	2020			2019

	(In thousands)
Deferred tax assets:
Accrued expenses and reserves	$	14,387		$	12,516
Equity-based compensation		1,794			1,720
NOL and capital losses		10,708			14,461
Interest expense carryover		—			3,628
Tax credits		2,686			1,339
Other		692			355
Total deferred tax assets		30,267			34,019
Less valuation allowance		(8,209	)		(12,615	)
Deferred tax liabilities:
Intangible assets		(47,018	)		(53,382	)
Other		—			(195	)
Net deferred tax liabilities	$	(24,960	)	$	(32,173	)

We have established a valuation allowance of $8.2 million and $12.6 million as of December 31, 2020 and 2019, respectively, against our net deferred tax assets. We determine valuation allowance on deferred tax assets by considering both positive and negative evidence in order to ascertain whether it is more likely than not that deferred tax assets will be realized. Realization of deferred tax assets is dependent upon the generation of future taxable income, if any, the timing and amount of which are uncertain. Due to the anticipated future taxable income under the GILTI regime, we have released most of our valuation allowance except on $1.2 million of foreign tax credit carryovers for U.S. federal purposes and maintained a valuation allowance on certain of our California, Netherlands, and Luxemburg deferred tax assets.

As of December 31, 2020, we had net operating loss carry forwards for federal, state and foreign tax purposes of $21.9 million, $26.4 million, and $15.4 million, respectively. The federal and state net operating losses will begin to expire starting in 2037 and 2031, respectively. An immaterial amount of the foreign losses will expire in 2021 and the remaining will expire starting 2025 through 2037. As defined under Internal Revenue Code Section 382, certain tax attributes are subject to an annual limitation as a result of our change in ownership in August 2017 due to the Acquisition Transaction. We do not expect our tax attributes to be materially affected by the annual limitation.

The CARES Act, enacted on March 27, 2020, provides tax relief to individuals and businesses in light of the impacts of COVID-19. Changes in tax laws or rates are accounted for in the period of enactment and as a result, we have recorded income tax benefits of $0.6 million during the year ended December 31, 2020 resulting from the enactment of the CARES Act.

As of December 31, 2020, we had $1.2 million of cumulative unrecognized tax benefits. All of these unrecognized tax benefits will favorably impact our effective tax rate in future periods to the extent benefits are recognized. There are no provisions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly increase or decrease within 12 months of the reporting date.

We did not recognize significant expense for interest and penalties related to uncertain tax positions during 2020, 2019 and 2018. We file income tax returns with the U.S. federal government, various U.S. states and foreign jurisdictions including China, France, Germany, Hong Kong, Luxembourg, Netherlands, Slovenia, Taiwan, United Kingdom and Vietnam. Our tax returns in the U.S., various U.S. states and foreign jurisdictions remain open to examination from 2013 to 2019.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Accumulated Other Comprehensive Income (Loss)

14. Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) were as follows:

	December 31,
	2020			2019

	(In thousands)
Accumulated foreign currency translation gain (loss)	$	2,104		$	(373	)
Unrealized foreign exchange loss from long-term intercompany loans, net of tax		(577	)		(1,798	)
Total Accumulated Other Comprehensive Income (Loss)	$	1,527		$	(2,171	)

Related-Party Transactions

12 Months Ended

Dec. 31, 2020

Related-Party Transactions

15. Related-Party Transactions

A company affiliated with the general partner, EagleTree-Carbide (GP), LLC provides management and consulting services to us. We incurred $0.1 million, $0.3 million and $0.3 million for the years ended December 31, 2020, 2019, and 2018, respectively, which covers travel and out-of-pocket expenses related to such services. This management and consulting service agreement was terminated in September 2020.

One of our directors, through one of his companies, entered into a service agreement to serve as our business management consultant. We incurred $48 thousand, $0.1 million and $0.1 million of consulting fees under the service agreement for the years ended December 31, 2020, 2019 and 2018, respectively. This service agreement was terminated in September 2020.

We entered into a lease agreement with a business entity owned by our Chief Executive Officer and recorded associated rent expense of $15 thousand, $54 thousand and $54 thousand for the years ended December 31, 2020, 2019 and 2018. We provided a security deposit of $5 thousand as collateral for the lease. There was no unpaid rent balance as of December 31, 2020.

As discussed in Note 8, we had a Second Lien Term Loan outstanding as of December 31, 2019. The total net carrying value of the Second Lien Term Loan balance held by all related parties, an affiliate of the Parent and one of our directors, was $5.8 million as of December 31, 2019. As of December 31, 2020, the outstanding balance of the Second Lien Term Loan was fully repaid and as a result, there was no debt held by related parties as of December 31, 2020.

Segment and Geographic Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment and Geographic Information

16. Segment and Geographic Information

The table below summarizes the financial information for each reportable segment:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Net revenue
Gamer and Creator Peripherals	$	539,366	$	294,141	$	233,536
Gaming Components and Systems		1,163,001		803,033		704,017
Total net revenue	$	1,702,367	$	1,097,174	$	937,553
Gross Profit
Gamer and Creator Peripherals	$	189,742	$	81,363	$	73,489
Gaming Components and Systems		275,687		142,924		119,206
Total gross profit	$	465,429	$	224,287	$	192,695

The CODM manages assets on a total company basis, not by operating segments; therefore, asset information and capital expenditures by operating segments are not presented.

Geographic Information

The following table summarizes our net revenue by geographic region based on the location of the customer:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Net revenue
Americas	$	775,423	$	460,256	$	386,758
Europe and Middle East		624,214		406,435		348,798
Asia Pacific		302,730		230,483		201,997
Total net revenue	$	1,702,367	$	1,097,174	$	937,553

Revenues from sales to customers in the United States represented 38%, 35% and 35% for the year ended December 31, 2020, 2019 and 2018, respectively. No other single country represented 10% or more of total net revenue during these periods.

Long-lived assets are comprised primarily of property and equipment, net. The following table summarizes property and equipment, net by country:

	December 31,
	2020		2019

	(In thousands)
United States	$	5,764	$	6,400
China		6,334		4,998
Taiwan		2,992		2,270
Other countries		1,385		1,697
Total property and equipment, net	$	16,475	$	15,365

No other countries represented 10% or more of our consolidated property and equipment, net as of December 31, 2020 and 2019.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

Leases

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Leases

17. Leases

Our lease portfolio consists primarily of real estate facilities for manufacturing, distribution, warehousing and office use purposes under operating leases.

We determine if an arrangement is or contains a lease at inception. ROU assets and lease liabilities are recognized at commencement based on the present value of the lease consideration in the contracts over the lease term. We do not record leases with an initial term of 12 months or less on our combined consolidated balance sheet but continue to record rent expense on a straight-line basis over the lease term. Certain of our lease agreements include options to extend or renew the lease terms. Such options are excluded from the ROU assets and lease liabilities unless they are reasonably certain to be exercised. Operating lease expense is recognized on a straight-line basis over the lease term.

We apply the incremental borrowing rate, using a portfolio approach, in determining the present value of the lease consideration, as our leases do not provide an implicit rate. Our incremental borrowing rate is the rate of interest we would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. Because we generally do not borrow on a collateralized basis, we consider a combination of factors to determine our incremental borrowing rate, including our credit worthiness, adjusted to approximate a collateralized rating, observable market yield curves, and the U.S. and foreign currency risk-free rates.

Our variable lease expense consists primarily of warehousing and distribution services related to our outsourced distribution hubs, and to a lesser extent, variable costs related to office common area maintenance charges. Our service contracts with third-party logistic service providers include both fixed payments for the use of a fixed warehouse space and variable payments based on the usage of their services for distribution and warehouse management. The fixed payments are included in the calculation of the ROU asset and lease liability, but the variable payments are expensed as incurred. In addition, our real estate leases typically contain variable payments for office common area maintenance and these costs are also expensed as incurred.

The table below summarizes the components of lease expenses:

	Year Ended
	December 31,
	2020
	(In thousands)
Operating lease expense	$	9,406
Variable lease expense		7,305
Total lease expense	$	16,711

Supplemental cash flow information related to leases:

	Year Ended
	December 31,
	2020
	(In thousands)
Cash payments included in the measurement of our operating lease liabilities	$	8,949
Operating lease ROU assets recognized in exchange for operating lease obligations	$	15,976

As of December 31, 2020, the weighted-average remaining lease term was 3.9 years and the weighed-average discount rate was 3.9%.

Amounts of future undiscounted cash flows related to operating lease payments over the lease term included in the measurement of lease liabilities as of December 31, 2020 are as follows:

	Amounts
	(In thousands)
2021	$	9,457
2022		6,921
2023		5,878
2024		4,278
2025		565
Thereafter		1,592
Total future lease payments	$	28,691
Less: Imputed interest		(2,050	)
Present value of operating lease liabilities	$	26,641
Current portion of operating lease liabilities ⁽¹⁾	$	9,070
Long-term operating lease liabilities ⁽¹⁾	$	17,571

(1)	The current portion and long-term portion of operating lease liabilities are included in “other liabilities and accrued expenses” and “other liabilities, noncurrent”, respectively, on our combined consolidated balance sheets.

Future minimum lease payments under non-cancelable operating leases as of December 31, 2019, as defined under the previous lease accounting guidance of ASC Topic 840, were as follows:

	Amounts
	(In thousands)
2020	$	7,525
2021		5,786
2022		2,701
2023		1,584
2024		1,025
Thereafter		—
Total	$	18,621

Selected Quarterly Financial Data (Unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Data [Abstract]

Selected Quarterly Financial Data (Unaudited)

18. Selected Quarterly Financial data (unaudited)

	Year ended December 31, 2020								Year ended December 31, 2019
	Q1		Q2		Q3		Q4		Q1			Q2			Q3		Q4

	(In thousands, except per share amounts)
Net revenues	$	308,518	$	380,407	$	457,103	$	556,339	$	245,383		$	240,864		$	284,372	$	326,555
Gross profit		78,622		105,064		127,944		153,799		48,083			45,524			60,227		70,453
Operating income (loss)		13,337		36,410		49,721		58,893		378			(1,851	)		10,962		14,218
Net income (loss)		1,217		22,600		36,357		43,043		(8,493	)		(7,432	)		1,519		6,012
Basic net income (loss) per share	$	0.01	$	0.27	$	0.43	$	0.47	$	(0.11	)	$	(0.10	)	$	0.02	$	0.08
Diluted net income (loss) per share	$	0.01	$	0.26	$	0.40	$	0.43	$	(0.11	)	$	(0.10	)	$	0.02	$	0.08

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2020

Valuation And Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

SCHEDULE II

VALUATION AND QUALIFYING ACCOUNTS

	Balance at Beginning of Year		Charges to Statements of Operations ⁽¹⁾		Claims and Adjustments Applied Against Allowances			Balance at End of Year

	(In thousands)
Allowance for credit losses on accounts receivable:
2020	$	212	$	681	$	(547	)	$	346
2019		65		220		(73	)		212
2018		314		237		(486	)		65

(1)

The amount for the year ended December 31, 2019 includes an immaterial impact from the business acquisitions during the year.

All other financial schedules have been omitted, since the required information is not applicable or is not present in amounts sufficient to require submission of the schedule, or because the information required information is included in the combined consolidated financial statements and notes thereto included in this Annual Report on Form 10-K.

Description of Business (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Reorganization

The Reorganization was comprised of a series of steps as set forth below:

•

The Parent acquired the minority interest held by Corsair Group (US), LLC in exchange for its own units.

•

Corsair Gaming, Inc. acquired all of the outstanding capital stock of Corsair Luxco from the Parent in exchange for its own stock.

•

As all legal entities included in the Reorganization are under common control of the Parent, all steps of the Reorganization were accounted for as a combination of entities under common control.

Initial Public Offering and Secondary Offering

On January 26, 2021, we completed a secondary offering of our common stock where certain selling stockholders sold 8,625,000, shares of common stock at $35.00 per share.

We did not receive any of the proceeds from the sale of shares by the selling stockholders.

Basis of Presentation

Summary of Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2020

Accounting Policies [Abstract]

Use of Estimates

Risks And Uncertainties Related To COVID19 Pandemic

Risks and Uncertainties related to the COVID-19 Pandemic

Revenue Recognition

Under Topic 606, we determine revenue recognition through the following steps:

•

identification of the contract, or contracts, with the customer

•

identification of the performance obligations in the contract

•

determination of the transaction price

•

allocation of the transaction price to the performance obligations in the contract, and

•

recognition of revenue when, or as the performance obligation is fulfilled

Our revenue recognition policies are consistent worldwide.

We offer return rights and customer incentive programs. Customer incentive programs include special pricing arrangements, promotions, rebates and volume-based incentives.

Cost f Revenue

Cost of Revenue

Distribution Costs

Product Development Costs

Advertising Costs

Stock Based Compensation

Stock-Based Compensation

Segments

We have two reportable segments:

•

Cash and Restricted Cash

Accounts Receivable, net

Concentration of Credit Risk

One customer accounted for more than 10% of our consolidated net revenue for the years ended December 31, 2020, 2019 and 2018.

As of December 31, 2020, and 2019, two customers each represented more than 10% of our accounts receivable, net.

Inventories

Property and Equipment, net

Fair Value of Financial Instruments

Level 1—Quoted prices are available in active markets for identical assets or liabilities as of the measurement date.

Business Combinations

Goodwill and Intangible Assets

For the year ended December 31, 2020, we elected to perform the qualitative assessment and determined that an impairment was not more likely than not and no further analysis was required.

Warranty Reserve

Deferred Issuance Costs and Debt Discounts

Nonmonetary Transactions

Because the transactions are nonmonetary, they have not been included in the combined consolidated statements of cash flows pursuant to ASC 230, Statement of Cash Flows.

Foreign Currency

comprehensive loss.

Gains and losses on long-term intercompany loans not intended to be repaid in the foreseeable future are recorded in other comprehensive loss.

Income Taxes

Uncertain Tax Positions

Net Income (Loss) per Share

Recently Adopted Accounting Pronouncements

Recently Issued Accounting Pronouncements, Not Yet Adopted

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities that Measured at Fair Value

	December 31, 2020
	(Level 1)		(Level 2)		(Level 3)		Total

	(in thousands)
Liabilities:
Contingent cash consideration in connection with a business acquisition—Origin⁽¹⁾	$	—	$	—	$	2,887	$	2,887
Contingent cash consideration in connection with a business acquisition—SCUF⁽²⁾		—		—		1,250		1,250
Deferred cash consideration in connection with a business acquisition—Origin⁽³⁾		—		—		1,505		1,505
Foreign currency forward contracts⁽⁴⁾		—		819		—		819
Total liabilities	$	—	$	819	$	5,642	$	6,461

	December 31, 2019
	(Level 1)		(Level 2)		(Level 3)		Total

	(In thousands)
Liabilities:
Contingent cash consideration in connection with a business acquisition—Origin⁽¹⁾	$	—	$	—	$	3,964	$	3,964
Contingent consideration in connection with a business acquisition—SCUF⁽²⁾		—		—		1,638		1,638
Deferred cash consideration in connection with a business acquisition—Origin⁽³⁾		—		—		1,411		1,411
Foreign currency forward contracts⁽⁴⁾		—		335		—		335
Total liabilities	$	—	$	335	$	7,013	$	7,348

(1)

(2)

(3)

(4)	The fair values of the forward contracts and interest rate cap contract are based on similar exchange traded derivatives and the related asset or liability is, therefore, included within Level 2 of the fair value hierarchy.

Business Combinations (Tables)

12 Months Ended

Dec. 31, 2020

SCUF Acquisition

Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the final allocation of the purchase consideration to the estimated fair value of the assets acquired and liabilities assumed at the SCUF Acquisition Closing Date.

	(In thousands)
Assets acquired:
Cash	$	6,947
Accounts receivable		4,587
Inventories		12,800
Prepaid and other assets		1,377
Identifiable intangible assets		71,890
Property and equipment		2,927
Other assets		40
Liabilities assumed:
Accounts payable		(9,182	)
Sales tax payable		(5,533	)
Deferred revenue		(3,752	)
Other liabilities and accrued expenses		(8,416	)
Deferred tax liabilities		(10,015	)
Net identifiable net assets acquired	$	63,670
Goodwill		72,339
Net assets acquired	$	136,009

Summary of Components of Identifiable Assets Acquired and Estimated Useful Lives

The following table summarizes the components of identifiable intangible assets acquired and their estimated useful lives as of the SCUF Acquisition Closing Date:

	Fair Value		Weighted Average Useful Life
	(In thousands)		(In years)
Patents	$	30,500		8
Developed technology		18,600		6
Customer Relationships		590		5
Trade name		22,200		15
Total identifiable intangible assets	$	71,890

Business Acquisition, Pro Forma Financial Information

The following unaudited pro forma financial information combines the unaudited combined consolidated results of operations as if the SCUF Acquisition had occurred as of January 1, 2019:

	Year Ended December 31,
	2019
	(in thousands)
Net revenue	$	1,165,502
Net loss		(24,598	)

Origin Acquisition

Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed

The final allocation of the Origin Acquisition purchase consideration to the estimated fair value of the assets acquired and liabilities assumed at the acquisition date is as follows:

	(In thousands)
Assets acquired:
Cash, net of cash acquired	$	376
Accounts receivable		1,379
Inventories		4,445
Prepaid and other assets		309
Identifiable intangible assets (customer relationship with estimated 6 years of useful life)		1,000
Property and equipment		140
Liabilities assumed:
Accounts payable		(2,670	)
Other liabilities and accrued expenses		(3,033	)
Other liabilities, noncurrent		(447	)
Net identifiable assets acquired		1,499
Goodwill		12,270
Net assets acquired	$	13,769

Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes in Carrying Amount of Goodwill by Reportable Segment

The following table summarizes the changes in the carrying amount of goodwill by reportable segment:

	Gaming Components and Systems			Gamer and Creator Peripherals			Total

	(In thousands)
December 31, 2018	$	133,063		$	93,616		$	226,679
Addition from business acquisitions		12,317			73,778			86,095
Effect of foreign currency exchange rates		(5	)		(19	)		(24	)
December 31, 2019	$	145,375		$	167,375		$	312,750
Addition from business acquisitions		—			690			690
Measurement period adjustments		(47	)		(1,326	)		(1,373	)
Effect of foreign currency exchange rates		316			377			693
December 31, 2020	$	145,644		$	167,116		$	312,760

Summary of Intangible Assets, Net

The following table is a summary of intangible assets, net:

			December 31, 2020						December 31, 2019
	Weighted Average Useful Life	Weighted Average Remaining Amortization Period	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

		(in years)	(In thousands)
Developed technology	5.6 years	4.3	$	31,016	$	8,892	$	22,124	$	44,243	$	17,536	$	26,707
Trade name	15.0 years	13.6		30,632		2,873		27,759		30,253		833		29,420
Customer relationships	10.0 years	6.6		218,469		72,892		145,577		218,459		50,916		167,543
Patent	7.9 years	6.9		31,802		4,207		27,595		30,721		130		30,591
Non-competition agreements	5.0 years	1.6		2,521		1,689		832		3,110		1,774		1,336
Total finite-life intangibles		7.3		314,440		90,553		223,887		326,786		71,189		255,597
Indefinite life trade name	Indefinite life			35,430		—		35,430		35,430		—		35,430
Total intangible assets			$	349,870	$	90,553	$	259,317	$	362,216	$	71,189	$	291,027

Summary of Recognized Amortization Expense of Intangible Assets

Amortization expense of intangible assets is recognized in our combined consolidated statements of operations as follows:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Cost of revenue	$	3,898	$	130	$	—
Sales, general and administrative		24,535		23,035		22,746
Product development		5,483		6,958		8,147
Total amortization of intangible assets	$	33,916	$	30,123	$	30,893

Schedule of Estimated Future Amortization Expense of Intangible Assets

The estimated future amortization expense of intangible assets as of December 31, 2020 is as follows:

	Amounts
	(in thousands)
2021	$	34,277
2022		34,101
2023		32,699
2024		31,253
2025		30,948
Thereafter		60,609
Total	$	223,887

Balance Sheet Components (Tables)

12 Months Ended

Dec. 31, 2020

Balance Sheet Related Disclosures [Abstract]

Summary of Cash and Restricted Cash

Cash and Restricted Cash

	December 31,
	2020		2019

	(In thousands)
Cash	$	129,543	$	48,165
Restricted cash—short term		3,795		3,552
Restricted cash—noncurrent		230		230
Total cash and restricted cash	$	133,568	$	51,947

Summary of Accounts Receivable, Net

Accounts Receivable, net	December 31,
	2020			2019

	(In thousands)
Accounts receivable	$	293,975		$	202,546
Allowance for credit losses		(346	)		(212	)
Accounts receivable, net	$	293,629		$	202,334

Summary of Inventories

Inventories

	December 31,
	2020		2019

	(In thousands)
Raw materials	$	52,165	$	25,547
Work in progress		9,654		2,690
Finished goods		164,188		122,826
Inventories	$	226,007	$	151,063

Summary of Property and Equipment, Net

Property and Equipment, Net

	December 31,
	2020			2019

	(In thousands)
Manufacturing equipment	$	22,035		$	15,291
Computer equipment, software and office equipment		9,407			6,958
Furniture and fixtures		3,675			2,602
Leasehold improvements		4,521			3,544
Total property and equipment	$	39,638		$	28,395
Less: Accumulated depreciation and amortization		(23,163	)		(13,030	)
Property and equipment, net	$	16,475		$	15,365

Summary of Other Liabilities and Accrued Expenses

Other Liabilities and Accrued Expenses

	December 31,
	2020		2019

	(In thousands)
Accrued reserves for customer incentive programs	$	49,619	$	36,582
Accrued reserves for sales returns		35,673		24,610
Accrued payroll and related expenses		26,877		10,638
Income tax payable		22,445		8,524
Operating lease liabilities, current		9,070		—
Other		62,061		35,187
Other liabilities and accrued expenses	$	205,745	$	115,541

Debt (Tables)

12 Months Ended

Dec. 31, 2020

Debt Disclosure [Abstract]

Summary of Carrying Value of First Lien and Second Lien Term Loan

The following table summarizes the carrying value of the First Lien Term Loan:

	December 31,
	2020			2019

	(In thousands)
Principal amount outstanding	$	326,938		$	467,332
Less: Debt discount, net of amortization		(2,124	)		(3,850	)
Less: Debt issuance costs, net of amortization		(3,421	)		(5,825	)
Carrying amount	$	321,393		$	457,657

The following table summarizes the carrying value of the Second Lien Term Loan:

	December 31,
	2020		2019

	(In thousands)
Principal amount outstanding	$	—	$	50,000
Less: Debt discount, net of amortization		—		(471	)
Less: Debt issuance costs, net of amortization		—		(1,374	)
Carrying amount	$	—	$	48,155

Summary of Interest Expense Recognized for First Lien and Second Lien

The following table summarizes the interest expense recognized for the First Lien and Second Lien:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Contractual interest expense for First Lien and Second Lien Term Loan	$	27,387	$	29,757	$	27,395
Contractual interest expense for Revolver		16		2,758		1,500
Amortization of debt discount		842		946		1,046
Amortization of debt issuance costs		1,790		2,043		2,258
Loss on debt extinguishment		4,114		—		—
Total interest expense recognized	$	34,149	$	35,504	$	32,199

Summary of Estimated Future Principal Payments under Total Long-term Debt

The estimated future principal payments under our total long-term debt as of December 31, 2020 are as follows:

	Amounts
	(In thousands)
2021	$	—
2022		—
2023		—
2024		326,938
2025		—
Total debt	$	326,938
Less: Discount and debt issuance costs		(5,545	)
Total Debt, net of discount and debt issuance costs	$	321,393
Presented on the combined consolidated balance sheet under:
Current portion of debt, net	$	—
Debt, net	$	321,393

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

Commitments And Contingencies Disclosure [Abstract]

Schedule of Changes in Warranty

Changes in our assurance-type warranty obligations were as follows:

	December 31,
	2020			2019

	(In thousands)
Beginning of the period	$	3,991		$	2,581
Balance assumed from business acquisitions		—			595
Warranty provision related to products shipped		7,201			5,996
Deductions for warranty claims processed		(5,327	)		(5,181	)
End of period	$	5,865		$	3,991

Schedule of Total Long-Term Non-Cancelable Purchase Commitment

The total long-term non-cancelable purchase commitment as of December 31, 2020 were as follows:

	Amounts
	(In thousands)
2021	$	1,973
2022		2,099
2023		1,282
2024		1,263
2025		158
	$	6,775

Equity Incentive Plans and Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2020

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock Option Activities and Related Information

The following table summarizes the stock option activities and related information for the year ended December 31, 2020:

	Outstanding Stock Options			Weighted- Average Exercise Price Per Share		Weighted- Average Remaining Contractual Term		Aggregate Intrinsic Value
						(In years)		(In thousands)
Balance as of December 31, 2019		8,790,000		$	4.86		8.1	$	24,949
Granted		1,922,187			9.21
Exercised		(326,450	)		4.14
Forfeited/cancelled		(174,000	)		6.16
Balance as of December 31, 2020		10,211,737		$	5.68		7.7	$	311,869
Vested and exercisable as of December 31, 2020		4,416,167		$	4.56		7.1	$	139,820

Summary of RSUs Activities and Related Information

The following table summarizes the RSUs activities and related information for the year ended December 31, 2020:

	Unvested RSUs			Weighted- Average Grant Date Fair Value Per Share

Balance as of December 31, 2019		—			—
Granted		171,755		$	28.66
Vested		(8,823	)		17.00
Forfeited/cancelled		(9,444	)		28.35
Balance as of December 31, 2020		153,488		$	29.35

Summary of Stock-based Compensation Expense

The following table summarizes stock-based compensation expense by line item in our combined consolidated statements of operations:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Cost of revenue	$	268	$	197	$	162
Sales, general and administrative		4,883		3,084		2,182
Product development		645		567		407
Total stock-based compensation expense	$	5,796	$	3,848	$	2,751

Summary of Valuation Assumptions of Fair Value of Stock Options on Date of Grant

We estimate the fair value of the stock options on the date of grant using the Black-Scholes-Merton pricing model, with the following valuation assumptions:

	Year Ended December 31,
	2020		2019		2018
Weighted average grant date fair value of common stock (per share)	$	9.16	$	7.59	$	6.88
Expected term (years)		6.37		6.48		6.48
Expected volatility	35.8%-44.0%		34.3%-36.1%		33.4%-35.0%
Dividend yield		—		—		—
Range of risk-free interest rate	0.3%-1.8%		1.4-2.6%		2.7%-3.1%

Net Income (Loss) Per Share (Tables)

12 Months Ended

Dec. 31, 2020

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income (Loss) Per Share

	Year Ended December 31,
	2020		2019			2018

	(in thousands, except per share amounts)
Numerator
Net income (loss)	$	103,217	$	(8,394	)	$	(13,720	)
Denominator
Weighted-average shares used to compute net income (loss) per share, basic		86,256		76,223			75,458
Effect of dilutive securities		4,321		—			—
Weighted-average shares used to compute net income (loss) per share, diluted		90,577		76,223			75,458
Net income (loss) per share:
Basic	$	1.20	$	(0.11	)	$	(0.18	)
Diluted	$	1.14	$	(0.11	)	$	(0.18	)

Anti-dilutive potential common shares ⁽¹⁾		1,605		8,091			7,382

(1)

Potential common share equivalents were not included in the calculation of diluted net income per share as the effect would have been anti-dilutive.

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2020

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes

Income (loss) before income tax consists of the following:

	Year Ended December 31,
	2020			2019			2018

	(In thousands)
Domestic	$	(1,190	)	$	(18,407	)	$	(15,887	)
Foreign operations		123,232			5,008			5,180
Income (loss) before income tax	$	122,042		$	(13,399	)	$	(10,707	)

Schedule of Income Tax (Expense) Benefit

Income tax (expense) benefit consists of the following:

	Year Ended December 31,
	2020			2019			2018

	(In thousands)
United States federal taxes:
Current	$	(363	)	$	(2,177	)	$	(1,029	)
Deferred		4,801			5,948			(209	)
State taxes:
Current		(1,313	)		(529	)		(113	)
Deferred		813			1,421			(64	)
Foreign taxes:
Current		(24,625	)		(3,824	)		(4,888	)
Deferred		1,862			4,166			3,290
Income tax (expense) benefit	$	(18,825	)	$	5,005		$	(3,013	)

Reconciliation of Tax Computed Applying Statutory Deferral Income Tax Rate

The income tax (expense) benefit differs from the amount which would result by applying the applicable statutory deferral rate to income before income taxes as follows:

	Year Ended December 31,
	2020			2019			2018

	(In thousands)
Provision at federal statutory rate	$	(25,629	)	$	2,814		$	1,581
State taxes		(5,363	)		911			423
Foreign rate differential		10,185			300			439
Taxes on foreign operations		(1,776	)		(1,520	)		—
Research and development credits		1,534			—			—
Net operating loss		—			2,557			—
Change in valuation allowance		4,407			719			(5,411	)
Change in tax rate on deferred tax assets		(743	)		(469	)		(245	)
Expired capital losses and tax credits		—			—			368
Other		(1,440	)		(307	)		(168	)
Income tax (expense) benefit	$	(18,825	)	$	5,005		$	(3,013	)

Schedule of Deferred Tax Assets and Liabilities

Deferred tax assets and liabilities comprise the following:

	December 31,
	2020			2019

	(In thousands)
Deferred tax assets:
Accrued expenses and reserves	$	14,387		$	12,516
Equity-based compensation		1,794			1,720
NOL and capital losses		10,708			14,461
Interest expense carryover		—			3,628
Tax credits		2,686			1,339
Other		692			355
Total deferred tax assets		30,267			34,019
Less valuation allowance		(8,209	)		(12,615	)
Deferred tax liabilities:
Intangible assets		(47,018	)		(53,382	)
Other		—			(195	)
Net deferred tax liabilities	$	(24,960	)	$	(32,173	)

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2020

Equity [Abstract]

Components of Accumulated Other Comprehensive Income (Loss)

The components of accumulated other comprehensive income (loss) were as follows:

	December 31,
	2020			2019

	(In thousands)
Accumulated foreign currency translation gain (loss)	$	2,104		$	(373	)
Unrealized foreign exchange loss from long-term intercompany loans, net of tax		(577	)		(1,798	)
Total Accumulated Other Comprehensive Income (Loss)	$	1,527		$	(2,171	)

Segment and Geographic Information (Tables)

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Summary of Financial Information for Each Reportable Segment

The table below summarizes the financial information for each reportable segment:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Net revenue
Gamer and Creator Peripherals	$	539,366	$	294,141	$	233,536
Gaming Components and Systems		1,163,001		803,033		704,017
Total net revenue	$	1,702,367	$	1,097,174	$	937,553
Gross Profit
Gamer and Creator Peripherals	$	189,742	$	81,363	$	73,489
Gaming Components and Systems		275,687		142,924		119,206
Total gross profit	$	465,429	$	224,287	$	192,695

Summary of Net Revenue By Geographic Region

The following table summarizes our net revenue by geographic region based on the location of the customer:

	Year Ended December 31,
	2020		2019		2018

	(In thousands)
Net revenue
Americas	$	775,423	$	460,256	$	386,758
Europe and Middle East		624,214		406,435		348,798
Asia Pacific		302,730		230,483		201,997
Total net revenue	$	1,702,367	$	1,097,174	$	937,553

Summary of Property And Equipment, Net by Country

The following table summarizes property and equipment, net by country:

	December 31,
	2020		2019

	(In thousands)
United States	$	5,764	$	6,400
China		6,334		4,998
Taiwan		2,992		2,270
Other countries		1,385		1,697
Total property and equipment, net	$	16,475	$	15,365

Leases (Tables)

12 Months Ended

Dec. 31, 2020

Leases [Abstract]

Summary of Components of Lease Expenses

The table below summarizes the components of lease expenses:

	Year Ended
	December 31,
	2020
	(In thousands)
Operating lease expense	$	9,406
Variable lease expense		7,305
Total lease expense	$	16,711

Supplemental Cash Flow Information Related to Leases

Supplemental cash flow information related to leases:

	Year Ended
	December 31,
	2020
	(In thousands)
Cash payments included in the measurement of our operating lease liabilities	$	8,949
Operating lease ROU assets recognized in exchange for operating lease obligations	$	15,976

Schedule of Future Undiscounted Cash Flows Related To Operating Lease Payments

Amounts of future undiscounted cash flows related to operating lease payments over the lease term included in the measurement of lease liabilities as of December 31, 2020 are as follows:

	Amounts
	(In thousands)
2021	$	9,457
2022		6,921
2023		5,878
2024		4,278
2025		565
Thereafter		1,592
Total future lease payments	$	28,691
Less: Imputed interest		(2,050	)
Present value of operating lease liabilities	$	26,641
Current portion of operating lease liabilities ⁽¹⁾	$	9,070
Long-term operating lease liabilities ⁽¹⁾	$	17,571

(1)	The current portion and long-term portion of operating lease liabilities are included in “other liabilities and accrued expenses” and “other liabilities, noncurrent”, respectively, on our combined consolidated balance sheets.

Future Minimum Lease Payments Under Non-cancelable Operating Leases

Future minimum lease payments under non-cancelable operating leases as of December 31, 2019, as defined under the previous lease accounting guidance of ASC Topic 840, were as follows:

	Amounts
	(In thousands)
2020	$	7,525
2021		5,786
2022		2,701
2023		1,584
2024		1,025
Thereafter		—
Total	$	18,621

Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Data [Abstract]

Selected Quarterly Financial Data (Unaudited)

	Year ended December 31, 2020								Year ended December 31, 2019
	Q1		Q2		Q3		Q4		Q1			Q2			Q3		Q4

	(In thousands, except per share amounts)
Net revenues	$	308,518	$	380,407	$	457,103	$	556,339	$	245,383		$	240,864		$	284,372	$	326,555
Gross profit		78,622		105,064		127,944		153,799		48,083			45,524			60,227		70,453
Operating income (loss)		13,337		36,410		49,721		58,893		378			(1,851	)		10,962		14,218
Net income (loss)		1,217		22,600		36,357		43,043		(8,493	)		(7,432	)		1,519		6,012
Basic net income (loss) per share	$	0.01	$	0.27	$	0.43	$	0.47	$	(0.11	)	$	(0.10	)	$	0.02	$	0.08
Diluted net income (loss) per share	$	0.01	$	0.26	$	0.40	$	0.43	$	(0.11	)	$	(0.10	)	$	0.02	$	0.08

Description of Business and Basis of Presentation - Additional Information (Detail)					12 Months Ended
	Jan. 26, 2021 $ / shares shares	Sep. 26, 2020 shares	Sep. 25, 2020 USD ($) $ / shares shares	Sep. 15, 2020 shares	Dec. 31, 2020 USD ($) Segment shares	Dec. 31, 2019 USD ($) shares
Description Of Business And Basis Of Presentation [Line Items]
Number of reportable segments \| Segment					2
Stock split ratio				3.485
Common stock, shares outstanding				84,405,366	91,935,000	84,079,000
Options outstanding to purchase common stock				10,029,388
Proceeds from issuance of initial public offering, net \| $					$ 118,575,000
Deferred offering costs \| $					12,000,000.0	$ 5,800,000
Initial Public Offering
Description Of Business And Basis Of Presentation [Line Items]
Number of shares sold			7,500,000
Sale of stock, price per share \| $ / shares			$ 17.00
Proceeds from issuance of initial public offering, net \| $			$ 118,600,000
Stockholders sale of common stock shares			6,500,000
Stockholders sale of common stock shares price per share \| $ / shares			$ 17.00
Underwriters' Option
Description Of Business And Basis Of Presentation [Line Items]
Stockholders sale of common stock shares		1,135,375
Secondary Offering \| Subsequent Event
Description Of Business And Basis Of Presentation [Line Items]
Number of shares sold	8,625,000
Sale of stock, price per share \| $ / shares	$ 35.00
Selling Stockholders
Description Of Business And Basis Of Presentation [Line Items]
Proceeds from issuance of initial public offering, net \| $					$ 0

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020 USD ($) Segment Customer	Dec. 31, 2019 USD ($) Customer	Dec. 31, 2018 USD ($) Customer	Jan. 01, 2020 USD ($)
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Advertising and promotion expenses	$ 19,100,000	$ 11,300,000	$ 8,700,000
Number of reportable segments \| Segment	2
Total restricted cash deposits	$ 4,000,000.0	3,800,000
Impairment charges	$ 0	0	0
Percentage of estimated fair value less than carrying amount	50.00%
Foreign currency remeasurement gains and (losses)	$ (1,182,000)	(1,558,000)	183,000
Short term lease term	12 months
Lease liabilities	$ 26,641,000			$ 17,900,000
ROU assets				$ 17,700,000
ASU 2016-13
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2020
Change in accounting principle, accounting standards update, immaterial effect	true
Short term lease term	12 months
ASU 2017-04
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2020
Change in accounting principle, accounting standards update, immaterial effect	true
ASU 2018-15
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2019
Change in accounting principle, accounting standards update, immaterial effect	true
ASU 2018-13
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2020
Change in accounting principle, accounting standards update, immaterial effect	true
ASU 2016-02
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2020
Change in accounting principle, accounting standards update, immaterial effect	false			false
Change in Accounting Principle, Accounting Standards Update, Transition Option Elected [Extensible List]	crsr:AccountingStandardsUpdate201602ModifiedRetrospectiveMember
Lease, transitional practical expedients	true
Lease, practical expedient, single lease component	true
Lease, practical expedient, lease term	true
Other (Expense) Income, Net
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Foreign currency remeasurement gains and (losses)	$ 1,600,000	1,400,000	$ (400,000)
Inventory Exchanges
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Sales and purchases of inventories in prepaid inventories and accrued liabilities	$ 5,900,000	$ 800,000
Leasehold Improvements
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Estimated useful lives of improvements	shorter of the remaining lease term or the estimated useful lives of the improvements
Consolidated Net Revenue \| Customer Concentration Risk
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Number of customers \| Customer	1	1	1
Accounts Receivable \| Customer Concentration Risk
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Number of customers \| Customer	2	2
Minimum
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Customer payment period from invoice date	30 days
Estimated useful lives	2 years
Standard product warranty period	6 months
Percentage of tax positions to measure tax benefit	50.00%
Minimum \| Consolidated Net Revenue \| Customer Concentration Risk
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Concentration of credit risk	10.00%	10.00%	10.00%
Minimum \| Accounts Receivable \| Customer Concentration Risk
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Concentration of credit risk	10.00%	10.00%
Maximum
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Customer payment period from invoice date	90 days
Period of performance obligations and timing of payment	1 year
Percentage of reimbursement of collection losses to mitigate credit risks	90.00%
Estimated useful lives	7 years
Business combination measurement period	1 year
Standard product warranty period	5 years

Summary of Significant Accounting Policies - Additional Information (Detail1)	Dec. 31, 2020
Maximum \| Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2021-01-01
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Revenue, remaining performance obligation, expected timing of satisfaction, period	1 year

Fair Value Measurement - Summary of Financial Assets and Liabilities that Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Contingent Consideration Business Acquisition SCUF
Liabilities:
Liabilities	$ 1,300	$ 1,600
Fair Value Recurring Basis
Liabilities:
Liabilities	6,461	7,348
Fair Value Recurring Basis \| Foreign Currency Forward Contracts
Liabilities:
Liabilities	819	335
Fair Value Recurring Basis \| Contingent Cash Consideration Business Acquisition Origin
Liabilities:
Liabilities	2,887	3,964
Fair Value Recurring Basis \| Contingent Consideration Business Acquisition SCUF
Liabilities:
Liabilities	1,250	1,638
Fair Value Recurring Basis \| Deferred Cash Consideration Business Acquisition Origin
Liabilities:
Liabilities	1,505	1,411
Fair Value Recurring Basis \| (Level 2)
Liabilities:
Liabilities	819	335
Fair Value Recurring Basis \| (Level 2) \| Foreign Currency Forward Contracts
Liabilities:
Liabilities	819	335
Fair Value Recurring Basis \| (Level 3)
Liabilities:
Liabilities	5,642	7,013
Fair Value Recurring Basis \| (Level 3) \| Contingent Cash Consideration Business Acquisition Origin
Liabilities:
Liabilities	2,887	3,964
Fair Value Recurring Basis \| (Level 3) \| Contingent Consideration Business Acquisition SCUF
Liabilities:
Liabilities	1,250	1,638
Fair Value Recurring Basis \| (Level 3) \| Deferred Cash Consideration Business Acquisition Origin
Liabilities:
Liabilities	$ 1,505	$ 1,411

Fair Value Measurement - Summary of Financial Assets and Liabilities that Measured at Fair Value (Parenthetical) (Details) $ in Thousands	1 Months Ended	12 Months Ended
	Apr. 30, 2020 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn out liability			$ 10,300
Contingent Consideration Business Acquisition Origin
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn out liability	$ 2,400
Remaining earnout liability		$ 2,900
Contingent Consideration Business Acquisition SCUF
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Outstanding liability		1,300	1,600
Contingent Consideration Business Acquisition SCUF \| Contractual Amount
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Outstanding liability		100
Contingent Consideration Business Acquisition SCUF \| Tax Return Filing Adjustment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Outstanding liability		$ 1,200
Measurement Input Discount Rate \| Contingent Consideration Business Acquisition Origin
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value discount rate		0.065
Measure of Change in Fair Value \| Contingent Consideration Business Acquisition Origin
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Fair value re-measurement adjustments		$ 1,000	$ 600
Fair Value, Recurring Basis, Unobservable Input Reconciliation, Liability, Gain (Loss), Statement of Income [Extensible List]		us-gaap:SellingGeneralAndAdministrativeExpensesMember	us-gaap:SellingGeneralAndAdministrativeExpensesMember

Derivative Financial Instruments - Additional Information (Detail) $ in Millions	12 Months Ended
	Dec. 31, 2020 USD ($) Derivative	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)
Derivative instruments for trading purposes \| Derivative	0
Foreign Currency Forward Contracts \| Non Designated
Notional principal amount	$ 41.6	$ 18.3
Foreign Currency Forward Contracts \| Non Designated \| Other (Expense) Income
Fair value gain (loss) recognized	(3.0)	$ (0.2)	$ 0.1
Interest Rate \| Non Designated \| Interest
Fair value gain (loss) recognized	$ 0.5
Minimum \| Foreign Currency Forward Contracts \| Non Designated
Derivative maturity term	3 months
Maximum \| Foreign Currency Forward Contracts \| Non Designated
Derivative maturity term	4 months

Business Combinations - Additional Information (Details) $ in Thousands, shares in Millions				1 Months Ended	12 Months Ended
	Dec. 20, 2019 USD ($) shares	Dec. 19, 2019 USD ($)	Jul. 22, 2019 USD ($) shares	Apr. 30, 2020 USD ($)	Dec. 31, 2020 USD ($) Acquisition	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Jul. 23, 2019 USD ($)
Business Acquisition [Line Items]
Measurement period adjustments relating to business acquisitions					$ 1,531
Measurement period adjustment, reduction in goodwill					1,373
Goodwill					312,760	$ 312,750	$ 226,679
Earn out liability						10,300
Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Acquisition related costs					$ 1,000	2,600	$ 1,500
Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Number of acquisitions \| Acquisition					2
Purchase consideration					$ 1,300
SCUF Acquisition
Business Acquisition [Line Items]
Purchase consideration	$ 136,000
Percentage of equity interest acquired		100.00%
Measurement period adjustments relating to business acquisitions	1,800
Measurement period adjustment, reduction in inventory	500
Measurement period adjustment, reduction in goodwill	1,300
Purchase consideration paid in cash	128,200
Purchase consideration paid in equity	$ 8,000
Purchase consideration paid in equity shares \| shares	1.1
Inventory adjustment recognized in cost of revenue		$ 1,500
Goodwill		$ 72,339
SCUF Acquisition \| Contingent Cash Consideration Relating To Preacquisition Tax Positions
Business Acquisition [Line Items]
Contingent cash consideration relating to finalization of pre-acquisition of tax liabilities	$ 1,300
SCUF Acquisition \| Additional Contingent Cash Consideration Relating To Certain EBITA Target And Licensing Renewal
Business Acquisition [Line Items]
Contingent consideration arrangements, range of outcomes, value, high	0
SCUF Acquisition \| Contingent Cash Consideration Refund Relating To Target Company Key Employee Retention
Business Acquisition [Line Items]
Contingent cash consideration	$ 1,500
Origin Acquisition
Business Acquisition [Line Items]
Purchase consideration			$ 13,800
Measurement period adjustments relating to business acquisitions			200
Measurement period adjustment, reduction in goodwill			100
Purchase consideration paid in cash			5,500
Purchase consideration paid in equity			$ 2,000
Purchase consideration paid in equity shares \| shares			0.2
Goodwill			$ 12,270
Deferred cash consideration payable			$ 1,400
Deferred cash consideration payable period			18 months
Origin Acquisition \| Other Current Liabilities
Business Acquisition [Line Items]
Measurement period adjustment, reduction in other liabilities and accrued expenses			$ 300
Origin Acquisition \| Contingent Cash Consideration Relating To Earn Out On Achievement Of Certain EBITA Targets
Business Acquisition [Line Items]
Contingent cash consideration relating to finalization of pre-acquisition of tax liabilities			4,600			4,000		$ 4,600
Earn out liability				$ 2,400
Origin Acquisition \| Contingent Cash Consideration Relating To Preacquisition Sales Tax Liabilities
Business Acquisition [Line Items]
Contingent cash consideration relating to finalization of pre-acquisition of tax liabilities			$ 300
Origin Acquisition \| Remaining Contingent Cash Consideration Relating To Earn Out On Achievement Of Certain EBITA Targets Remeasured To Actual
Business Acquisition [Line Items]
Contingent cash consideration relating to finalization of pre-acquisition of tax liabilities					2,600	1,600
Origin Acquisition \| Remaining Contingent Cash Consideration Relating To Earn Out On Achievement Of Certain EBITA Targets Remeasured To Actual \| Selling, General and Administrative Expenses
Business Acquisition [Line Items]
Increase (decrease) in earn-out liability					$ 1,000	$ (600)

Business Combinations - Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 19, 2019	Jul. 22, 2019	Dec. 31, 2018
Liabilities assumed:
Goodwill	$ 312,760	$ 312,750			$ 226,679
SCUF Acquisition
Assets acquired:
Cash			$ 6,947
Accounts receivable			4,587
Inventories			12,800
Prepaid and other assets			1,377
Identifiable intangible assets			71,890
Property and equipment			2,927
Other assets			40
Liabilities assumed:
Accounts payable			(9,182)
Sales tax payable			(5,533)
Deferred revenue			(3,752)
Other liabilities and accrued expenses			(8,416)
Deferred tax liabilities			(10,015)
Net identifiable net assets acquired			63,670
Goodwill			72,339
Net assets acquired			$ 136,009
Origin Acquisition
Assets acquired:
Cash				$ 376
Accounts receivable				1,379
Inventories				4,445
Prepaid and other assets				309
Identifiable intangible assets				1,000
Property and equipment				140
Liabilities assumed:
Accounts payable				(2,670)
Other liabilities and accrued expenses				(3,033)
Other liabilities, noncurrent				(447)
Net identifiable net assets acquired				1,499
Goodwill				12,270
Net assets acquired				$ 13,769

Business Combinations - Summary of Components of Identifiable Assets Acquired and Estimated Useful Lives (Details) - USD ($) $ in Thousands		12 Months Ended
	Dec. 19, 2019	Dec. 31, 2020
Business Acquisition [Line Items]
Weighted Average Useful Life		7 years 3 months 18 days
SCUF Acquisition
Business Acquisition [Line Items]
Identifiable intangible assets	$ 71,890
Patents
Business Acquisition [Line Items]
Weighted Average Useful Life		6 years 10 months 24 days
Patents \| SCUF Acquisition
Business Acquisition [Line Items]
Identifiable intangible assets	$ 30,500
Weighted Average Useful Life	8 years
Developed Technology
Business Acquisition [Line Items]
Weighted Average Useful Life		4 years 3 months 18 days
Developed Technology \| SCUF Acquisition
Business Acquisition [Line Items]
Identifiable intangible assets	$ 18,600
Weighted Average Useful Life	6 years
Customer Relationships
Business Acquisition [Line Items]
Weighted Average Useful Life		6 years 7 months 6 days
Customer Relationships \| SCUF Acquisition
Business Acquisition [Line Items]
Identifiable intangible assets	$ 590
Weighted Average Useful Life	5 years
Trade Name
Business Acquisition [Line Items]
Weighted Average Useful Life		13 years 7 months 6 days
Trade Name \| SCUF Acquisition
Business Acquisition [Line Items]
Identifiable intangible assets	$ 22,200
Weighted Average Useful Life	15 years

Business Combinations - Summary of Estimated Fair Value of Assets Acquired and Liabilities Assumed (Parenthetical) (Details)		12 Months Ended
	Jul. 22, 2019	Dec. 31, 2020
Business Acquisition [Line Items]
Weighted Average Useful Life		7 years 3 months 18 days
Customer Relationships
Business Acquisition [Line Items]
Weighted Average Useful Life		6 years 7 months 6 days
Origin Acquisition \| Customer Relationships
Business Acquisition [Line Items]
Weighted Average Useful Life	6 years

Business Combinations - Business Acquisition, Pro Forma Financial Information (Details) - SCUF Acquisition $ in Thousands	12 Months Ended
	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Net revenue	$ 1,165,502
Net loss	$ (24,598)

Goodwill and Intangible Assets - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2020 Segment
Goodwill And Intangible Assets Disclosure [Abstract]
Number of reporting units	4

Goodwill and Intangible Assets - Summary of Changes in Carrying Amount of Goodwill by Reportable Segment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Balance	$ 312,750	$ 226,679
Addition from business acquisitions	690	86,095
Measurement period adjustments	(1,373)
Effect of foreign currency exchange rates	693	(24)
Balance	312,760	312,750
Gaming Components and Systems
Balance	145,375	133,063
Addition from business acquisitions		12,317
Measurement period adjustments	(47)
Effect of foreign currency exchange rates	316	(5)
Balance	145,644	145,375
Gaming and Creator Peripherals
Balance	167,375	93,616
Addition from business acquisitions	690	73,778
Measurement period adjustments	(1,326)
Effect of foreign currency exchange rates	377	(19)
Balance	$ 167,116	$ 167,375

Goodwill and Intangible Assets - Summary of Intangible Assets, Net (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Weighted Average Remaining Amortization Period in Years	7 years 3 months 18 days
Total finite-life intangibles, Gross Carrying Amount	$ 314,440	$ 326,786
Total finite-life intangibles, Accumulated Amortization	90,553	71,189
Total finite-life intangibles, Net Carrying Amount	223,887	255,597
Total intangible assets, Gross Carrying Amount	349,870	362,216
Total intangible assets, Net Carrying Amount	259,317	291,027
Trade Name
Indefinite-life intangibles, Gross and Net Carrying Amount	$ 35,430	35,430
Developed Technology
Weighted Average Useful Life	5 years 7 months 6 days
Weighted Average Remaining Amortization Period in Years	4 years 3 months 18 days
Total finite-life intangibles, Gross Carrying Amount	$ 31,016	44,243
Total finite-life intangibles, Accumulated Amortization	8,892	17,536
Total finite-life intangibles, Net Carrying Amount	$ 22,124	26,707
Trade Name
Weighted Average Useful Life	15 years
Weighted Average Remaining Amortization Period in Years	13 years 7 months 6 days
Total finite-life intangibles, Gross Carrying Amount	$ 30,632	30,253
Total finite-life intangibles, Accumulated Amortization	2,873	833
Total finite-life intangibles, Net Carrying Amount	$ 27,759	29,420
Customer Relationships
Weighted Average Useful Life	10 years
Weighted Average Remaining Amortization Period in Years	6 years 7 months 6 days
Total finite-life intangibles, Gross Carrying Amount	$ 218,469	218,459
Total finite-life intangibles, Accumulated Amortization	72,892	50,916
Total finite-life intangibles, Net Carrying Amount	$ 145,577	167,543
Patents
Weighted Average Useful Life	7 years 10 months 24 days
Weighted Average Remaining Amortization Period in Years	6 years 10 months 24 days
Total finite-life intangibles, Gross Carrying Amount	$ 31,802	30,721
Total finite-life intangibles, Accumulated Amortization	4,207	130
Total finite-life intangibles, Net Carrying Amount	$ 27,595	30,591
Noncompete Agreements
Weighted Average Useful Life	5 years
Weighted Average Remaining Amortization Period in Years	1 year 7 months 6 days
Total finite-life intangibles, Gross Carrying Amount	$ 2,521	3,110
Total finite-life intangibles, Accumulated Amortization	1,689	1,774
Total finite-life intangibles, Net Carrying Amount	$ 832	$ 1,336

Goodwill and Intangible Assets - Summary of Recognized Amortization Expense of Intangible Assets (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Amortization of intangible assets	$ 33,916	$ 30,123	$ 30,893
Cost of Revenue
Amortization of intangible assets	3,898	130
Sales, General and Administrative
Amortization of intangible assets	24,535	23,035	22,746
Product Development
Amortization of intangible assets	$ 5,483	$ 6,958	$ 8,147

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Goodwill And Intangible Assets Disclosure [Abstract]
2021	$ 34,277
2022	34,101
2023	32,699
2024	31,253
2025	30,948
Thereafter	60,609
Total finite-life intangibles, Net Carrying Amount	$ 223,887	$ 255,597

Balance Sheet Components - Summary of Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Balance Sheet Related Disclosures [Abstract]
Cash	$ 129,543	$ 48,165
Restricted cash	3,795	3,552
Restricted cash, noncurrent	230	230
Total cash and restricted cash	$ 133,568	$ 51,947	$ 27,920	$ 19,030

Balance Sheet Components - Summary of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Accounts receivable	$ 293,975	$ 202,546
Allowance for credit losses	(346)	(212)
Accounts receivable, net	$ 293,629	$ 202,334

Balance Sheet Components - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 52,165	$ 25,547
Work in progress	9,654	2,690
Finished goods	164,188	122,826
Inventories	$ 226,007	$ 151,063

Balance Sheet Components - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Property Plant And Equipment [Line Items]
Total property and equipment	$ 39,638	$ 28,395
Less: Accumulated depreciation and amortization	(23,163)	(13,030)
Property and equipment, net	16,475	15,365
Manufacturing Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	22,035	15,291
Computer Equipment, Software and Office Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	9,407	6,958
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	3,675	2,602
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total property and equipment	$ 4,521	$ 3,544

Balance Sheet Components - Summary of Other Liabilities and Accrued Expenses (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Accrued reserves for customer incentive programs	$ 49,619	$ 36,582
Accrued reserves for sales returns	35,673	24,610
Accrued payroll and related expenses	26,877	10,638
Income tax payable	22,445	8,524
Operating lease liabilities, current	9,070
Other	62,061	35,187
Other liabilities and accrued expenses	$ 205,745	$ 115,541

Balance Sheet Components - Additional Information (Details) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Balance Sheet Components [Line Items]
Contract assets	$ 0	$ 0
Sales Channel Through Intermediary
Balance Sheet Components [Line Items]
Deferred revenue, current	1,800,000	2,900,000
Deferred revenue, long-term portion	500,000	400,000
Sales Channel Through Webstore
Balance Sheet Components [Line Items]
Unearned revenue consists of payments received from customer	$ 8,000,000.0	$ 1,300,000
Maximum \| Sales Channel Through Intermediary \| Transferred At Point In Time
Balance Sheet Components [Line Items]
Deferred revenue recognized period	3 months
Minimum \| Sales Channel Through Webstore \| Transferred At Point In Time
Balance Sheet Components [Line Items]
Deferred revenue recognized period	14 days

Debt - Additional Information (Details) - USD ($)		1 Months Ended				3 Months Ended	6 Months Ended	12 Months Ended
Debt - Additional Information (Details) - USD ($)	Aug. 28, 2017	Sep. 30, 2020	Apr. 30, 2020	Oct. 31, 2018	Oct. 31, 2017	Dec. 31, 2020	Sep. 30, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
First Lien Term Loan
Debt Instrument [Line Items]
Principal amount	$ 235,000,000
Debt instrument, maturity date	Aug. 28, 2024
Effective interest rate						6.45%
Multiplied percentage on loan repayment				50.00%
Number of business days after initial public offering				5 days
Minimum mandatory repayments of term loans		$ 55,800,000
Voluntary repayments of term loans		$ 30,800,000
Repayments of term loans			$ 2,600,000			$ 50,000,000.0
First Lien Term Loan \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, variable rate	0.50%
First Lien Term Loan \| One Month LIBOR
Debt Instrument [Line Items]
Debt instrument, variable rate	1.00%
Debt instrument, maturity period of variable rate basis	1 month
First Lien Term Loan \| 2%, Plus Margin Rate
Debt Instrument [Line Items]
Debt instrument, variable rate	3.50%
Debt instrument, interest rate	2.00%
First Lien Term Loan \| 1%, Plus Margin Rate
Debt Instrument [Line Items]
Debt instrument, variable rate	4.50%
Debt instrument, interest rate	1.00%
Revolver
Debt Instrument [Line Items]
Principal amount	$ 50,000,000
Debt instrument, maturity date	Aug. 28, 2022
Revolver \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, variable rate	0.50%
Revolver \| One Month LIBOR
Debt Instrument [Line Items]
Debt instrument, variable rate	1.00%
Debt instrument, maturity period of variable rate basis	1 month
Revolver \| 2%, Plus Margin Rate
Debt Instrument [Line Items]
Debt instrument, variable rate	3.50%
Debt instrument, interest rate	2.00%
Revolver \| 1%, Plus Margin Rate
Debt Instrument [Line Items]
Debt instrument, variable rate	4.50%
Debt instrument, interest rate	1.00%
Revolver \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate				2.75%
Revolver \| Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, variable rate				3.25%
Revolver \| Eurodollar \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate				3.75%
Revolver \| Eurodollar \| Maximum
Debt Instrument [Line Items]
Debt instrument, variable rate				4.25%
First Lien Term Loan Amendment
Debt Instrument [Line Items]
Principal amount								$ 115,000,000	$ 115,000,000	$ 10,000,000
First Lien Term Loan Amendment \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate				2.75%
First Lien Term Loan Amendment \| Base Rate \| Maximum
Debt Instrument [Line Items]
Debt instrument, variable rate				3.25%
First Lien Term Loan Amendment \| Eurodollar \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate				3.75%
First Lien Term Loan Amendment \| Eurodollar \| Maximum
Debt Instrument [Line Items]
Debt instrument, variable rate				4.25%
Second Lien Term Loan
Debt Instrument [Line Items]
Principal amount	$ 65,000,000
Debt instrument, maturity date	Aug. 28, 2025
Repayments of term loans							$ 50,000,000
Second Lien Term Loan \| Base Rate
Debt Instrument [Line Items]
Debt instrument, variable rate	7.25%
Second Lien Term Loan \| Eurodollar
Debt Instrument [Line Items]
Debt instrument, variable rate	8.25%
Second Lien Term Loan Amendment
Debt Instrument [Line Items]
Principal amount					$ 50,000,000
Second Lien Term Loan Amendment \| Base Rate
Debt Instrument [Line Items]
Debt instrument, variable rate increase					0.25%
Second Lien Term Loan Amendment \| Eurodollar
Debt Instrument [Line Items]
Debt instrument, variable rate increase					0.25%

Debt - Summary of Carrying Value of First Lien and Second Lien Term Loan (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal amount outstanding	$ 326,938
Total Debt, net of discount and debt issuance costs	321,393
First Lien Term Loan
Debt Instrument [Line Items]
Principal amount outstanding	326,938	$ 467,332
Less: Debt discount, net of amortization	(2,124)	(3,850)
Less: Debt issuance costs, net of amortization	(3,421)	(5,825)
Total Debt, net of discount and debt issuance costs	$ 321,393	457,657
Second Lien Term Loan
Debt Instrument [Line Items]
Principal amount outstanding		50,000
Less: Debt discount, net of amortization		(471)
Less: Debt issuance costs, net of amortization		(1,374)
Total Debt, net of discount and debt issuance costs		$ 48,155

Debt - Summary of Interest Expense Recognized for First Lien and Second Lien (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Loss on debt extinguishment	$ 4,114
Total interest expense recognized	35,137	$ 35,548	$ 32,680
First Lien and Second Lien Term Loan
Debt Instrument [Line Items]
Contractual interest expense	27,387	29,757	27,395
Amortization of debt discount	842	946	1,046
Amortization of debt issuance costs	1,790	2,043	2,258
Loss on debt extinguishment	4,114
Total interest expense recognized	34,149	35,504	32,199
Revolver
Debt Instrument [Line Items]
Contractual interest expense	$ 16	$ 2,758	$ 1,500

Debt - Summary of Estimated Future Principal Payments under Total Long-term Debt (Details) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Debt Disclosure [Abstract]
2024	$ 326,938
Total debt	326,938
Less: Discount and debt issuance costs	(5,545)
Total Debt, net of discount and debt issuance costs	321,393
Presented on the combined consolidated balance sheet under:
Current portion of debt, net	0
Debt, net	$ 321,393	$ 503,448

Commitments and Contingencies - Schedule of Changes in Warranty Obligations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Beginning of the period	$ 3,991	$ 2,581
Balance assumed from business acquisitions		595
Warranty provision related to products shipped	7,201	5,996
Deductions for warranty claims processed	(5,327)	(5,181)
End of period	$ 5,865	$ 3,991

Commitments and Contingencies - Schedule of Total Long-Term Non-Cancelable Purchase Commitment (Details) $ in Thousands	Dec. 31, 2020 USD ($)
Commitments And Contingencies Disclosure [Abstract]
2021	$ 1,973
2022	2,099
2023	1,282
2024	1,263
2025	158
Unconditional Purchase Obligation	$ 6,775

Commitments and Contingencies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2020 USD ($) Claim	Dec. 31, 2019 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Non-cancelable long-term purchase commitments		$ 1,900,000
Letters of credit outstanding, amount	$ 2,000,000.0	1,500,000
Line of credit facility, current borrowing capacity	$ 0	$ 0
Loss contingency, claims settled, number \| Claim	0

Stockholders' Equity - Additional Information (Details) $ / shares in Units, $ in Thousands				12 Months Ended
	Sep. 15, 2020 $ / shares shares	Dec. 20, 2019 shares	Dec. 19, 2019 USD ($) shares	Dec. 31, 2020 USD ($) $ / shares shares	Dec. 31, 2019 USD ($) $ / shares shares	Sep. 25, 2020 $ / shares shares
Capital Unit [Line Items]
Stock issued, value \| $				$ 106,567	$ 53,500
Authorized shares of common stock for issuance	100,000,000			300,000,000	100,000,000	300,000,000
Authorized shares of common stock for issuance, par value \| $ / shares	$ 0.0001			$ 0.0001	$ 0.0001	$ 0.0001
Stock split ratio	3.485
Common stock shares outstanding	84,405,366			91,935,000	84,079,000
Authorized shares of preferred stock for issuance				5,000,000	0	5,000,000
Authorized shares of preferred stock for issuance, par value \| $ / shares				$ 0.0001		$ 0.0001
Preferred stock shares outstanding				0	0
SCUF Acquisition
Capital Unit [Line Items]
Stock issued, value \| $			$ 53,500
Stock issued		1,100,000
2019 Acquisition
Capital Unit [Line Items]
Stock issued, value \| $					$ 10,000
Common Stock
Capital Unit [Line Items]
Stock issued				7,500,000	7,046,000
Stock issued, value \| $				$ 1
Common Stock \| Shares Equivalent After Conversion \| SCUF Acquisition
Capital Unit [Line Items]
Stock issued			7,046,049
Common Stock \| Shares Equivalent After Conversion \| 2019 Acquisition
Capital Unit [Line Items]
Stock issued					1,322,075

Equity Incentive Plans and Stock-Based Compensation - Additional Information (Detail) - USD ($)	1 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options granted		1,922,187
Issuance of common stock for stock option exercises		326,450
Share-based compensation, exercise price		$ 9.21
Intrinsic value of options exercised		$ 1,500,000	$ 100,000	$ 15,000
Expected Dividend Rate		0.00%
Cash dividend	$ 85,000,000.0	$ 0	$ 0
Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation cost related to unvested stock		$ 4,300,000
Expected to be recognized weighted average period		3 years 7 months 6 days
Weighted-average grant date fair value of RSUs granted		$ 28.66
Fair value of RSUs vested		$ 100,000
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation cost related to unvested stock		$ 14,700,000
Expected to be recognized weighted average period		2 years 10 months 24 days
2017 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of options granted		0
2020 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance		5,125,000
Common stock shares reserved outstanding percentage		4.00%
Number of shares available for grant		4,759,890
2020 Plan \| Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employee stock purchase plan offering period		6 years 4 months 13 days	6 years 5 months 23 days	6 years 5 months 23 days
Expected Dividend Rate		0.00%	0.00%	0.00%
2020 Plan \| Maximum \| Employee Incentive Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock for stock option exercises		75,000,000
2017 Plan and the 2020 Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, expiration period		10 years
2017 Plan and the 2020 Plan \| Restricted Stock Units (RSUs)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, exercise price		$ 0
2017 Plan and the 2020 Plan \| Minimum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, vesting period		4 years
2017 Plan and the 2020 Plan \| Maximum
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation, vesting period		5 years
2020 Employee Stock Purchase Plan \| Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock reserved for issuance		1,025,000
Common stock shares reserved outstanding percentage		1.00%
Maximum number of shares participant expected to purchase		5,000
Maximum fair market value of shares per employee		$ 25,000
2020 Employee Stock Purchase Plan \| Minimum \| Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Employees participate through payroll deductions percentage		1.00%
2020 Employee Stock Purchase Plan \| Maximum \| Employee Stock
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Issuance of common stock under ESPP		20,000,000
Employee stock purchase plan offering period		27 months
Employees participate through payroll deductions percentage		15.00%
2020 Employee Stock Purchase Plan \| Maximum \| Employee Stock \| Closing Common Stock Trading Price Beginning Of Offering Period
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock percentage		85.00%
2020 Employee Stock Purchase Plan \| Maximum \| Employee Stock \| Closing Common Stock Trading Price End Of Offering Period
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Common stock percentage		85.00%

Equity Incentive Plans and Stock-Based Compensation - Summary of Stock Option Activities and Related Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Outstanding Stock Options, Beginning balance	8,790,000
Stock Options, Granted	1,922,187
Stock Options, Exercised	(326,450)
Stock Options, Forfeited/cancelled	(174,000)
Outstanding Stock Options, Ending balance	10,211,737	8,790,000
Stock Options, Vested and exercisable	4,416,167
Weighted-Average Exercise Price Per Share, Beginning balance	$ 4.86
Weighted-Average Exercise Price Per Share, Granted	9.21
Weighted-Average Exercise Price Per Share, Exercised	4.14
Weighted-Average Exercise Price Per Share, Forfeited/cancelled	6.16
Weighted-Average Exercise Price Per Share, Ending balance	5.68	$ 4.86
Weighted-Average Exercise Price Per Share, Vested and exercisable as of December 31, 2020	$ 4.56
Weighted-Average Remaining Contractual Term	7 years 8 months 12 days	8 years 1 month 6 days
Weighted -Average Remaining Contractual Term Vested and exercisable	7 years 1 month 6 days
Aggregate Intrinsic Value, Balance	$ 311,869	$ 24,949
Aggregate Intrinsic Value, Vested and exercisable	$ 139,820

Equity Incentive Plans and Stock-Based Compensation - Summary of RSUs Activities and Related Information (Detail) - Restricted Stock Units (RSUs)	12 Months Ended
	Dec. 31, 2020 $ / shares shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested RSUs, Granted \| shares	171,755
Unvested RSUs, Vested \| shares	(8,823)
Unvested RSUs, Forfeited/cancelled \| shares	(9,444)
Unvested RSUs, Ending balance \| shares	153,488
Weighted-Average Grant Date Fair Value Per Share, Granted \| $ / shares	$ 28.66
Weighted-Average Grant Date Fair Value Per Share, Vested \| $ / shares	17.00
Weighted-Average Grant Date Fair Value Per Share, Forfeited/cancelled \| $ / shares	28.35
Weighted-Average Grant Date Fair Value Per Share, Ending balance \| $ / shares	$ 29.35

Equity Incentive Plans and Stock-Based Compensation - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 5,796	$ 3,848	$ 2,751
Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	268	197	162
Sales, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	4,883	3,084	2,182
Product Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 645	$ 567	$ 407

Equity Incentive Plans and Stock-Based Compensation - Summary of Valuation Assumptions of Fair Value of Stock Options on Date of Grant (Detail) - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Dividend yield	0.00%
2020 Plan \| Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Weighted average grant date fair value of common stock (per share)	$ 9.16	$ 7.59	$ 6.88
Expected term (years)	6 years 4 months 13 days	6 years 5 months 23 days	6 years 5 months 23 days
Expected volatility, minimum	35.80%	34.30%	33.40%
Expected volatility, maximum	44.00%	36.10%	35.00%
Dividend yield	0.00%	0.00%	0.00%
Range of risk-free interest rate, minimum	0.30%	1.40%	2.70%
Range of risk-free interest rate, maximum	1.80%	2.60%	3.10%

Net Loss (Loss) Per Share - Computation of Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Numerator
Net income (loss)	$ 43,043	$ 36,357	$ 22,600	$ 1,217	$ 6,012	$ 1,519	$ (7,432)	$ (8,493)	$ 103,217	$ (8,394)	$ (13,720)
Weighted-average shares used to compute net income (loss) per share
Basic									86,256	76,223	75,458
Effect of dilutive securities									4,321
Weighted-average shares used to compute net income (loss) per share, diluted									90,577	76,223	75,458
Net income (loss) per share:
Basic	$ 0.47	$ 0.43	$ 0.27	$ 0.01	$ 0.08	$ 0.02	$ 0.10	$ 0.11	$ 1.20	$ 0.11	$ 0.18
Diluted	$ 0.43	$ 0.40	$ 0.26	$ 0.01	$ 0.08	$ 0.02	$ 0.10	$ 0.11	$ 1.14	$ 0.11	$ 0.18
Anti-dilutive potential common shares									1,605	8,091	7,382

Income Taxes - Component of Income (Loss) Before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Domestic	$ (1,190)	$ (18,407)	$ (15,887)
Foreign operations	123,232	5,008	5,180
Income (loss) before income taxes	$ 122,042	$ (13,399)	$ (10,707)

Income Taxes - Components of Income Tax (Expense) Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Current federal taxes	$ (363)	$ (2,177)	$ (1,029)
Deferred federal taxes	4,801	5,948	(209)
Current state taxes	(1,313)	(529)	(113)
Deferred state taxes	813	1,421	(64)
Current foreign taxes	(24,625)	(3,824)	(4,888)
Deferred foreign taxes	1,862	4,166	3,290
Income tax (expense) benefit	$ (18,825)	$ 5,005	$ (3,013)

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

Income Taxes - Income Tax (Expense) Benefit Differs from the Amount which would Result by applying the Applicable Statutory Deferral Rate to Income before Income Taxes (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Provision at federal statutory rate	$ (25,629)	$ 2,814	$ 1,581
State taxes	(5,363)	911	423
Foreign rate differential	10,185	300	439
Taxes on foreign operations	(1,776)	(1,520)
Research and development credits	1,534
Net operating loss		2,557
Change in valuation allowance	4,407	719	(5,411)
Change in tax rate on deferred tax assets	(743)	(469)	(245)
Expired capital losses and tax credits			368
Other	(1,440)	(307)	(168)
Income tax (expense) benefit	$ (18,825)	$ 5,005	$ (3,013)

Income Taxes - Components of Company's Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Accrued expenses and reserves	$ 14,387	$ 12,516
Equity-based compensation	1,794	1,720
NOL and capital losses	10,708	14,461
Interest expense carryover		3,628
Tax credits	2,686	1,339
Other	692	355
Total deferred tax assets	30,267	34,019
Less valuation allowance	(8,209)	(12,615)
Deferred tax liabilities:
Intangible assets	(47,018)	(53,382)
Other		(195)
Net deferred tax liabilities	$ (24,960)	$ (32,173)

Income Taxes - Additional Information (Detail) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Valuation allowance	$ 8,209,000	$ 12,615,000
One-time benefit from change in tax law resulting from enactment of CARES act	600,000
Unrealized tax benefits impact on effective tax rate	1,200,000
Interest and penalties expense	$ 0	$ 0	$ 0
Earliest Tax Year
Income Tax Contingency [Line Items]
Open Tax Year	2013
Latest Tax Year
Income Tax Contingency [Line Items]
Open Tax Year	2019
Federal
Income Tax Contingency [Line Items]
Foreign tax credit carryovers	$ 1,200,000
Net operating loss carryforwards	$ 21,900,000
Operating loss carryforwards expiration year	2037
State
Income Tax Contingency [Line Items]
Net operating loss carryforwards	$ 26,400,000
Operating loss carryforwards expiration year	2031
Foreign
Income Tax Contingency [Line Items]
Net operating loss carryforwards	$ 15,400,000
Foreign \| NOL Carry Forward Period Of Expiration Immaterial Amounts
Income Tax Contingency [Line Items]
Operating loss carryforwards expiration year	2021
Foreign \| NOL Carry Forward Start Period of Expiration Remaining Amounts
Income Tax Contingency [Line Items]
Operating loss carryforwards expiration year	2025
Foreign \| NOL Carry Forward End Period of Expiration Remaining Amounts
Income Tax Contingency [Line Items]
Operating loss carryforwards expiration year	2037

Accumulated Other Comprehensive Income (Loss) - Components of Accumulated Other Comprehensive Income (Loss) (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Statement Of Income And Comprehensive Income [Abstract]
Accumulated foreign currency translation gain (loss)	$ 2,104	$ (373)
Unrealized foreign exchange loss from long-term intercompany loans, net of tax	(577)	(1,798)
Total Accumulated Other Comprehensive Income (Loss)	$ 1,527	$ (2,171)

- Definition

Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge.

+ References + Details

Related-Party Transactions - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
EagleTree-Carbide (GP), LLC
Related Party Transaction [Line Items]
Related party transaction, expenses incurred for services	$ 100,000	$ 300,000	$ 300,000
Director
Related Party Transaction [Line Items]
Related party transaction, expenses incurred for services	48,000	100,000	100,000
Chief Executive Officer
Related Party Transaction [Line Items]
Rent expense	15,000	54,000	$ 54,000
Security deposit for lease	5,000
Unpaid rent balance included in the accounts payable	0
Affiliated Entity and Director
Related Party Transaction [Line Items]
Second lien term loan balance held by all related parties	$ 0	$ 5,800,000

Segment and Geographic Information - Summary of Financial Information for Each Reportable Segment (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net revenue	$ 556,339	$ 457,103	$ 380,407	$ 308,518	$ 326,555	$ 284,372	$ 240,864	$ 245,383	$ 1,702,367	$ 1,097,174	$ 937,553
Total gross profit	$ 153,799	$ 127,944	$ 105,064	$ 78,622	$ 70,453	$ 60,227	$ 45,524	$ 48,083	465,429	224,287	192,695
Gaming and Creator Peripherals
Segment Reporting Information [Line Items]
Net revenue									539,366	294,141	233,536
Total gross profit									189,742	81,363	73,489
Gaming Components and Systems
Segment Reporting Information [Line Items]
Net revenue									1,163,001	803,033	704,017
Total gross profit									$ 275,687	$ 142,924	$ 119,206

- Definition

Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-SubTopic 10
-Section 50
-Paragraph 3
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Segment and Geographic Information - Summary of Net Revenue By Geographic Region (Detail) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Reporting Information [Line Items]
Net revenue	$ 556,339	$ 457,103	$ 380,407	$ 308,518	$ 326,555	$ 284,372	$ 240,864	$ 245,383	$ 1,702,367	$ 1,097,174	$ 937,553
Americas
Segment Reporting Information [Line Items]
Net revenue									775,423	460,256	386,758
Europe and Middle East
Segment Reporting Information [Line Items]
Net revenue									624,214	406,435	348,798
Asia Pacific
Segment Reporting Information [Line Items]
Net revenue									$ 302,730	$ 230,483	$ 201,997

- Definition

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Segment and Geographic Information - Additional Information (Detail) - Geographic Concentration Risk - Country	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Consolidated Net Revenue \| United States
Segment Reporting Information [Line Items]
Percentage of revenue from sales to customers	38.00%	35.00%	35.00%
Consolidated Net Revenue \| Non-US
Segment Reporting Information [Line Items]
Percentage of revenue from sales to customers	10.00%	10.00%	10.00%
Number of single countries representing more than ten percent threshold	0	0	0
Property and Equipment, Net \| Non-US
Segment Reporting Information [Line Items]
Percentage of revenue from sales to customers	10.00%	10.00%
Number of single countries representing more than ten percent threshold	0	0

Segment and Geographic Information - Summary of Property And Equipment, Net by Country (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Property and equipment, net	$ 16,475	$ 15,365
United States
Segment Reporting Information [Line Items]
Property and equipment, net	5,764	6,400
China
Segment Reporting Information [Line Items]
Property and equipment, net	6,334	4,998
Taiwan
Segment Reporting Information [Line Items]
Property and equipment, net	2,992	2,270
Other Countries
Segment Reporting Information [Line Items]
Property and equipment, net	$ 1,385	$ 1,697

Leases - Additional Information (Detail)	12 Months Ended
Leases - Additional Information (Detail)	Dec. 31, 2020
Leases [Abstract]
Short term lease term	12 months
Weighted average remaining lease term	3 years 10 months 24 days
Weighted average discount rate, percent	3.90%

Leases - Summary of Components of Lease Expenses (Detail) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Leases [Abstract]
Operating lease expense	$ 9,406
Variable lease expense	7,305
Total lease expense	$ 16,711

Leases - Supplemental Cash Flow Information Related to Leases (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Leases [Abstract]
Cash payments included in the measurement of our operating lease liabilities	$ 8,949
Operating lease ROU assets recognized in exchange for operating lease obligations	$ 15,976
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	us-gaap:OtherAssetsMember

Leases - Schedule of Future Undiscounted Cash Flows Related To Operating Lease Payments (Detail) - USD ($) $ in Thousands	Dec. 31, 2020	Jan. 01, 2020
Leases [Abstract]
2021	$ 9,457
2022	6,921
2023	5,878
2024	4,278
2025	565
Thereafter	1,592
Total future lease payments	28,691
Less: Imputed interest	(2,050)
Lease liabilities	$ 26,641	$ 17,900
Operating Lease, Liability, Statement of Financial Position [Extensible List]	us-gaap:Liabilities
Operating lease liabilities, current	$ 9,070
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	us-gaap:AccruedLiabilitiesAndOtherLiabilities
Long-term operating lease liabilities	$ 17,571
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	us-gaap:OtherLiabilitiesNoncurrent

Leases - Future Minimum Lease Payments Under Non-cancelable Operating Leases (Detail) $ in Thousands	Dec. 31, 2019 USD ($)
Leases [Abstract]
2020	$ 7,525
2021	5,786
2022	2,701
2023	1,584
2024	1,025
Total	$ 18,621

Selected Quarterly Financial Data (Unaudited) (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Quarterly Financial Data [Abstract]
Net revenue	$ 556,339	$ 457,103	$ 380,407	$ 308,518	$ 326,555	$ 284,372	$ 240,864	$ 245,383	$ 1,702,367	$ 1,097,174	$ 937,553
Gross profit	153,799	127,944	105,064	78,622	70,453	60,227	45,524	48,083	465,429	224,287	192,695
Operating income (loss)	58,893	49,721	36,410	13,337	14,218	10,962	(1,851)	378	158,361	23,707	21,790
Net income (loss)	$ 43,043	$ 36,357	$ 22,600	$ 1,217	$ 6,012	$ 1,519	$ (7,432)	$ (8,493)	$ 103,217	$ (8,394)	$ (13,720)
Basic net income (loss) per share	$ 0.47	$ 0.43	$ 0.27	$ 0.01	$ 0.08	$ 0.02	$ 0.10	$ 0.11	$ 1.20	$ 0.11	$ 0.18
Diluted net income (loss) per share	$ 0.43	$ 0.40	$ 0.26	$ 0.01	$ 0.08	$ 0.02	$ 0.10	$ 0.11	$ 1.14	$ 0.11	$ 0.18

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.

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- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

Schedule II - Valuation and Qualifying Accounts (Detail) - Allowance for Credit Losses on Accounts Receivable - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Valuation And Qualifying Accounts Disclosure [Line Items]
Balance at Beginning of Year	$ 212	$ 65	$ 314
Charges to Statements of Operations	681	220	237
Claims and Adjustments Applied Against Allowances	(547)	(73)	(486)
Balance at End of Year	$ 346	$ 212	$ 65