false 0001743759 0001743759 2021-05-04 2021-05-04

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 4, 2021

 

CORSAIR GAMING, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware	001-39533	82-2335306
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)
47100 Bayside Pkwy Fremont, California 94538
(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (510) 657-8747

Not Applicable

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, $0.0001 par value per share		CRSR		The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

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Item 2.02 Results of Operations and Financial Condition

 

On May 4, 2021, Corsair Gaming, Inc. (“Corsair” or the “Company”) issued a press release announcing certain of its financial results for the quarter ended March 31, 2021. The full text of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. Attached hereto as Exhibit 99.2 is a presentation regarding the Company's fiscal quarter ended March 31, 2021.

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit Number		Description
99.1		Press Release dated May 4, 2021
99.2		Investor Presentation dated May 4, 2021
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

The information in this Current Report on Form 8-K and the Exhibit 99.1 and Exhibit 99.2 attached hereto shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained herein and in the accompanying exhibit shall not be incorporated by reference into any filing with the U.S. Securities and Exchange Commission made by Corsair Gaming, Inc., whether made before or after the date hereof, regardless of any general incorporation language in such filing.

 

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

		CORSAIR GAMING, INC.
Date: May 4, 2021		By:	/s/ Michael G. Potter
			Michael G. Potter
			Chief Financial Officer (Principal Financial Officer)

 

2

Exhibit 99.1

 

 

Corsair Gaming Reports Record First Quarter 2021 Financial Results

Reports Record First Quarter Revenue and Profit; Raises Full-Year Guidance

 

FREMONT, CA, May 4, 2021 – Corsair Gaming, Inc. (NASDAQ:CRSR) (“Corsair”), a leading global provider and innovator of high-performance gear for gamers and content creators, today announced financial results for the first quarter ended March 31, 2021.

 

First Quarter 2021 Highlights

 

 

Definitions of the non-GAAP financial measures used in this press release and reconciliations of such measures to their nearest GAAP equivalents are included below under the heading “Use and Reconciliation of Non-GAAP Financial Measures.”

 

“We are thrilled with our first quarter financial performance and strategic progress. End demand remained strong for our products and our new products such as the K65 mini RGB keyboard and Elgato’s new accessories debuted well. We introduced 29 new products in the first quarter and we expect this blistering pace of new product introduction to continue throughout the year with several brand new products still to come. Supplies of key components remain tight but we have been able to support our plans and will continue to work on this issue for the rest of the year. As a result of our stronger-than-expected first quarter performance and our current views for the rest of the year, we raised our 2021 annual guidance,” stated Andy Paul, Chief Executive Officer of Corsair.

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“We were able to convert our strong financial performance in the first quarter into an opportunity to further strengthen our balance sheet. We reduced debt by an additional $28 million with outstanding principal now at $299 million and net debt at $177.3 million. We did this while growing quickly and leaving sufficient resources to help us grow further. We continue to evaluate growth opportunities while still expecting to further reduce our existing debt in 2021,” said Michael G. Potter, Chief Financial Officer of Corsair.

 

Financial Outlook

 

The Company is updating guidance for the full-year 2021 as indicated below:

 

 

Certain non-GAAP measures included in our financial outlook were not reconciled to the comparable GAAP financial measures because the GAAP measures are not accessible on a forward-looking basis. We are unable to reconcile these forward-looking non-GAAP financial measures to the most directly comparable GAAP measures without unreasonable efforts because we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Such items may include stock-based compensation charges, public offering related charges, depreciation and amortization, severance, and other items. The unavailable information could have a significant impact on our GAAP financial results.

 

The foregoing forward-looking statements reflect our expectations as of today's date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. We do not intend to update our financial outlook until our next quarterly results announcement.

 

Please see “Use and Reconciliation of Non-GAAP Financial Measures” below for a discussion on how we calculate the non-GAAP measures presented herein and a reconciliation to the most directly comparable GAAP measure.

 

Recent Developments

 

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Conference Call and Webcast Information

 

We will host a conference call to discuss the first quarter 2021 financial results on May 4, 2021, at 5:30 a.m. PT. The conference call can be accessed live over the phone by dialing 1-877-407-0784, or for international callers 1-201-689-8560. A replay will be available from 8:30 a.m. PT on May 4, 2021 through May 11, 2021, by dialing 1-844-512-2921, or for international callers 1-412-317-6671. The replay passcode is 13718830.

 

The call will also be webcast live from our investor relations website at https://ir.corsair.com. Following completion of the call, a recorded replay of the webcast will be available on the website.

 

About Corsair Gaming, Inc.

 

Corsair Gaming, Inc. (NASDAQ:CRSR) is a leading global developer and manufacturer of high-performance gear and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals to premium streaming equipment and smart ambient lighting, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best.

 

Corsair also sells gear under our Elgato brand, which provides premium studio equipment and accessories for content creators, SCUF Gaming brand, which builds custom-designed controllers for competitive gamers, and ORIGIN PC brand, a builder of custom gaming and workstation desktop PCs and laptops.

 

Forward Looking Statements

 

Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, our estimated full year 2021 net revenue, adjusted operating income and adjusted EBITDA; our belief that our pace of new product introduction will continue throughout the year; whether we will be successful in managing inventory; whether we will be able to grow further; and whether we will continue to reduce our existing debt. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: our ability to build and maintain the strength of our brand among gaming and streaming enthusiasts and our ability to continuously develop and successfully market new gear and improvements;  the introduction and success of new third-party high-performance computer hardware, particularly graphics processing units and central processing units as well as sophisticated new video

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games; the risk that we are not able to compete with competitors and/or that the gaming industry, including streaming and eSports, does not grow as expected or declines; the loss or inability to attract and retain key management; delays or disruptions at our or third-parties’ manufacturing and distribution facilities; currency exchange rate fluctuations or international trade disputes resulting in our gear becoming relatively more expensive to our overseas customers or resulting in an increase in our manufacturing costs; the impact of the coronavirus on our  business; general economic conditions that adversely effect, among other things, consumer confidence and spending; and the other factors described under the heading “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 to be filed with the Securities and Exchange Commission (SEC) on or about the date hereof and our subsequent filings with the SEC. Copies of each filing may be obtained from us or the SEC. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. Our results for the quarter ended March 31, 2021 are not necessarily indicative of our operating results for any future periods.

 

Use and Reconciliation of Non-GAAP Financial Measures

 

To supplement the financial results presented in accordance with GAAP, this earnings release presents certain non-GAAP financial information, including Adjusted Operating Income, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Net Income Per Share. These are important financial performance measures for us, but are not financial measures as defined by GAAP. The presentation of this non-GAAP financial information is not intended to be considered in isolation of or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

 

We use Adjusted Operating Income, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Net Income Per Share to evaluate our operating performance and trends and make planning decisions. We believe that these non-GAAP measures help identify underlying trends in our business that could otherwise be masked by the effect of the expenses and other items that we exclude in such non-GAAP measures. Accordingly, we believe that Adjusted Operating Income, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Net Income Per Share provide useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects, and allowing for greater transparency with respect to the key financial metrics used by our management in our financial and operational decision-making. We also present these non-GAAP financial performance measures because we believe investors, analysts and rating agencies consider them useful in measuring our ability to meet our debt service obligations.

 

Our use of these terms may vary from that of others in our industry. These non-GAAP financial measures should not be considered as an alternative to revenues, operating income, net income, cash provided by operating activities or any other measures derived in accordance with GAAP as measures of operating performance or liquidity. Reconciliations of these measures to the most directly comparable GAAP financial measures are presented in the attached schedules.

 

We calculate these non-GAAP financial measures as follows:

 

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We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure and to view these non-GAAP financial measures in conjunction with the related GAAP financial measures.

 

Source: Corsair Gaming, Inc.

 

 

 

Investor Relations Contact:

 

Ronald van Veen

ir@corsair.com

510-578-1407

 

 

Media Contact:

 

Adrian Bedggood

adrian.bedggood@corsair.com

510-657-8747

+44-7989-258827

 

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Corsair Gaming, Inc.

Condensed Combined Consolidated Statements of Operations

(Unaudited, in thousands, except per share amounts)

 

 

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Corsair Gaming, Inc.

Segment Information

(Unaudited, in thousands, except percentages)

 

 

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Corsair Gaming, Inc.

Condensed Combined Consolidated Balance Sheets

(Unaudited, in thousands)

 

 

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Corsair Gaming, Inc.

Condensed Combined Consolidated Statements of Cash Flows

(Unaudited, in thousands)

 

 

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Corsair Gaming, Inc.

GAAP to Non-GAAP Reconciliations

 

 

Non-GAAP Operating Income Reconciliations

(Unaudited, in thousands, except percentages)

 

Non-GAAP Net Income and Net Income Per Share Reconciliations

(Unaudited, in thousands, except per share amounts and percentages)

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Corsair Gaming, Inc.

Adjusted EBITDA Reconciliations

(Unaudited, in thousands, except percentages)

 

 

Exhibit 99.2 CORSAIR INVESTOR PRESENTATION Q1 Earnings | May 4, 2021

INVESTOR PRESENTATION Forward Looking Statements This presentation contains forward looking statements that involve risks, uncertainties and assumptions. If the risks or uncertainties ever materialize or the assumptions prove incorrect, the Company’s results may differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact could be deemed forward-looking statements, including but not limited to: information or predictions concerning the Company’s future financial performance, business plans and objectives, potential growth opportunities, financing plans, competitive position, technological industry or market trends, market growth potential and potential market opportunities. These statements are based on estimates and information available to the Company at the time of this presentation and are not guarantees of future performance. Actual results could differ materially from the Company’s current expectations as a result of many factors, including, but not limited to: the Company’s ability to build and maintain the strength of its brand among gaming and streaming enthusiasts and it‘s ability to continuously develop and successfully market new gear and improvements to existing gear; the introduction and success of new third-party high-performance computer hardware, particularly graphics processing units and central processing units, as well as sophisticated new video games; fluctuations in operating results; the risk that the Company is not able to compete with competitors and/or that the gaming industry, including streaming and eSports, does not grow as expected or declines; the loss or inability to attract and retain key management; delays or disruptions at manufacturing and distribution facilities of the Company or third parties; currency exchange rate fluctuations or international trade disputes resulting in the Company's gear becoming relatively more expensive to its overseas customers or resulting in an increase in the Company's manufacturing costs; the impact of the coronavirus on the Company's business ; and general economic conditions that adversely effect, among other things, the financial markets and consumer confidence and spending. The Company assumes no obligation, and does not intend, to update these forward-looking statements, except as required by law. Investors are urged to review in detail the risks and uncertainties outlined in Corsair’s Securities and Exchange Commission filings, including but not limited to Corsair’s Annual Report on Form 10-K for the year ended December 31, 2020, an its Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 [once available] as well as the Risk Factors contained therein. You may get these documents for free by visiting EDGAR on the SEC website at http://www.sec.gov. Our results for the quarter ended March 31 , 2021 are not necessarily indicative of our operating results for any future period. Non-GAAP Financial Measures Included in this presentation are certain non-GAAP financial measures, such as adjusted EBITDA, which are not recognized under the generally accepted accounting principles (“GAAP”) in the United states and designed to complement the financial information presented in accordance with GAAP in the United States because management believes such measures are useful to investors. The non-GAAP measures have limitations as analytical tools and you should not consider them in isolation of, or as an alternative to, measures prepared in accordance with U.S. GAAP. The non-GAAP measures used by the Company may differ from the non-GAAP measures used by other companies. The Company urges you to review the reconciliation of its non-GAAP financial measures to the most directly comparable U.S. GAAP financial measures set forth in the Appendix to this presentation, and not to rely on any single financial measure to evaluate the Company's business. Market & industry Data This presentation also contains estimates and other statistical data made by independent parties and by the Company relating to the Company's industry, the Company's business and the market for the Company's products and its future growth. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. in addition, projections, assumptions, and estimates of the company's future performance and the future performance off the market for its products necessarily subject to a high degree of uncertainty and risk. Unless otherwise specified, all figures are as of March 31 , 2021. DISCLAIMER 2

AGENDA Purpose. Market Trends. Business Highlights. Initiatives. Capabilities. Financial Results. Logo 3

OUR PURPOSE Power your gaming and content creation experiences. Logo 4

OUR AMBITION Provide our consumers with a lifetime of products and services that fuel their entertainment, creative and digital spaces. Logo 5

MARKET TRENDS 36% INCREASE IN AVERAGE GAMING TIME IMPACT OF ‘THIRD PLACES’ The average time spent playing video games is projected to increase from 1.1 hours per person per day to 1.5 hours during the next 5 years. Video Games Are the New “Third Place” A “Third Place” is a space outside the home and workplace/ school where people gather, and communities build. Today, video games are becoming third places. Fortnite is one of the best examples of the shift to social gaming. Fortnite now holds virtual concerts for millions of players and has dedicated a space for users to party, not battle. Source: Cathie Wood, CEO Ark Invest https://ark-invest.com/newsletters/issue-249/ 729M VIEWERS OF ESPORTS AND GAMES ESPORTS POISED FOR GROWTH A growing gamer population is fueling esports. The global market for esports is expected to grow at a CAGR of 11.1% from 2019-2024. Source: Newzoo Source: www.thinkadvisor.com/2021/02/21/arks-cathie-wood-5-big-investing-ideas-for-2021/ Logo 6 Source: www.thinkadvisor.com/2021/02/21/arks-cathie-wood-5-big-investing-ideas-for-2021/ Source: Newzoo

MARKET TRENDS 50M GAMING CONTENT CREATION CHANNELS RISE OF ‘STUDIO’ ENVIRONMENTS COVID-19 shifted the focus from in-person to digital. As a result, more consumers desire higher quality environments, or rooms for better set-ups to enhance their entertainment, creativity and collaboration via the internet. 13% CAGR DIGITAL CONTENT GROWTH FORECAST 2021 – 2026 Source: https://twitchtracker.com/statistics (1) channels as of March 2021 Source: https://blog.youtube/news-andevents/youtube-gaming-2020/ Over 40 million active gaming channels and, globally, there were over 100 billion hours of gaming content watched on YouTube in 2020. “This year, we’ve seen an uptick in live gaming streams, which accounted for more than 10 billion watch time hours.” Over 100 billion hours of gaming content watched on YouTube in 2020 Source: https://www.prnewswire.com/news-releases/digital-content-market-size-usd-397-390million-by-2026-at-cagr-13--valuates-reports-301187341.html YouTube & Twitch SURGE IN CONTENT CREATION Twitch has 9.6 million creators streaming each month(1), Twitch now plans to diversify its programming lineup beyond gamers. 50M Logo 7 Source: https://twitchtracker.com/statistics (1) channels as of March 2021 Source: https://www.prnewswire.com/news-releases/digital-content-market-size-usd-397-390-million-by-2026-at-cagr-13--valuates-reports-301187341.html

BUSINESS HIGHLIGHTS - 12 MONTHS ENDING MARCH 31 84 PRODUCT LAUNCHES 33M UNITS SHIPPED 3 ACQUISITIONS logo 8

2021 Q1 REVENUE - RECORD $529M $529M REVENUE Q1 2021 $600M $450M $300M $150M $0M Q1 2019 Q1 2020 Q1 2021 +47% CAGR +72% GROWTH YOY Gaming Components and Systems Gamer and Creator Peripherals Logo 9

2021 Q1 GROSS PROFIT - MORE THAN DOUBLED YOY $160M GROSS PROFIT $180M $135M $90M $45M $0M Q1 2019 Q1 2020 Q1 2021 +104% GROWTH YOY +480BPS GROSS PROFIT MARGIN Gaming Components and Systems Gamer and Creator Peripherals Logo 10

2021 Q1 ADJUSTED EBITDA - ALMOST TREBLED YOY $80M ADJUSTED EBITDA $100M $75M $50M $25M $0M Q1 2019 Q1 2020 Q1 2021 197% GROWTH YOY 7.4X GROWTH LAST 2 YEARS Logo 11

OUR OPPORTUNITY: ~ $46B TAM Significant industry growth with category expansion TAM $B $50B $50B 2019 2020 STREAMING GEAR GAMING PERIPHERALS SOFTWARE + SERVICES GAMING COMPONENTS GAMING SYSTEMS Source: Jon Peddie Research Logo 12

OUR OPPORTUNITY: GROWING CATEGORIES 26 Product Categories. Best in Class Brands. Logo 13

THE OPPORTUNITY: ~2.8 BILLION GAMERS AND BEYOND Physical gatherings are being replaced by Gaming as a Metaverse. Cultural shifts and behaviors accelerating the TAM. 1B Mobile Payers* 459M Console Payers* 617M PC Payers* 33M CORSAIR units sold in last 12 months Source: Newzoo. *Represents gamers who have spent money on games in the last 6 months Logo 14

INITIATIVES Content Creation. Direct to Consumer. Software and Services. Integrated Experience. Logo 15

CONTENT CREATION & STREAMING Professionalize your personal studio experience, connecting your gaming passions and BEYOND… ORGANIC ADOPTION FOR UPCOMING TRENDS PODCASTING REMOTE EDUCATION WORK FROM HOME LIVE SHOPPING B2B RICH SUITE OF 7 CONTENT-CREATION FOCUSED PRODUCT CATEGORIES Twitch live streams are watched by 26.5M visitors daily. According to SuperData, there’s a bigger audience watching GAMING videos than the combined audiences of HBO, Netflix, ESPN and HULU combined. Source: https://TwitchTracker.com/statistics Logo 16

SOFTWARE & SERVICES A nascent proprietary software ecosystem with multiple touch points to cross-sell and offer a set of services. Committed to building a 360° services experience. Examples include our recent acquisition of Gamer Sensei Coaching & Training platform. CUE A CORSAIR INTERFACE CORSAIR.COM WFI LAN SLIPSTREAM USB SMBUS LAN WIRELESS Connect Players with Coaches 60+ RGB Supported Products Logo 17

DIRECT TO CONSUMER Engage directly with the customer for an integrated experience and more valuable relationship. Goal for 15% of CORSAIR revenue to come through a direct-to-consumer experience by 2023 Infrastructure, domain and technology investments to support multiple consumer touch-points Drive multiple purchases with customization, education and awareness DIRECT TO CONSUMER Components Subscriptions Software Affiliates Systems Services Content Solutions Brands.com Social Media Personalization Products Email Logo 18

INTEGRATED EXPERIENCE CORSAIR brands fulfill a wide variety of consumer needs, creating a lifetime relationship with our brands and products Start with one and educate Multi-brand and product strategy Integrated eco-system Build a lifetime relationship LIFETIME VALUE $$$$ COMPONENTS PRODUCTS SYSTEMS SOLUTIONS SERVICES SUBSCRIPTION CUSTOMER ENGAGEMENT SOFTWARE LIFETIME VALUE $ VISUALS By IMPULSE Elgato RIGIN SCUF Gamer Sensel Logo 19

CAPABILITIES Proven & Trusted. Authentic Community & Social. Strong Foundation. Eco-System For ‘Third Space’. Logo 20

THE COMPLETE PRODUCT SUITE FOR GAMING AND STREAMING POSITIONED FOR EXPONENTIAL GROWTH CORSAIR HARDWARE, SOFTWARE AND SERVICES ENGINE • ‘Best-of-breed’ brand strategy • Trusted in 26+ product categories • Over 200M products shipped • Strategic global channel partners • Integrated eco-system • Innovator with over 240 patents • Customization and personalization • 1.3B+ reach through influencer network Proven and trusted. STUDIO ACCESSORIES HID ACCESSORIES HEADSET PERFORMANCE CONTROLLER KEYBOARD MICROPHONE MOUSEPAD MOUSE EXTERNAL CAPTURE CARD CAPTURE CARD POWER SUPPLY STREM DECK CPU COOLER CUSTOM COOLING CASE ANS SSD MEMORY CAM LINK COMPONENT ACCESSORIES SSD FANS CASE legato RIGIN SCUF Gaming Gamer Sensei Visuals By impulse Logo 21

LOYAL COMMUNITY & STRONG INFLUENCER NETWORK CORSAIR brands direct social following Source: (1) Sideqik - Sum of all CORSAIR brands sponsored influencers over 12 months through March 31st (2) Stream Hatchet - Sum of all CORSAIR brands sponsored influencers over 12 months through March 31st 6.8M+ FOLLOWERS 6.1M+ FOLLOWERS 4.2M+ FOLLOWERS 1.9M+ SUBSCRIBERS 800+ Influencers 1.3B+REACH 3.7B+ VIDEO VIEWS (1) 715M+ Hours watched (2) Logo 22

Community Platforms Products Brands VBI Global Distribution Global Infrastructure STRONG FOUNDATION Strong foundation positioned for growth. Logo 23

POSITIONED FOR SIGNIFICANT GROWTH - ‘GAMING HAS BECOME THE THIRD SPACE OUTSIDE WORK AND HOME’ BEFORE NOW NEXT 1994 – 2004 2005 – 2010 2011-2016 2017 – 2018 2019 – 2021 2021 OVERCLOCKING MEMORY DIY COMPONENTS & LIQUID COOOLING STREAMING EQUIPMENT & SYSTEMS COMPLETE GAMING SUITE & PERSONAL STUDIO 2.8B Gamers 26 product categories and growing THIRD SPACE & BEYOND Content Creators GAMING PERIPHERALS Logo 24

FINANCIAL RESULTS Logo 25

STRONG TOP-LINE GROWTH -REVENUE $704M $803M $1,163M $234M $294M $539M 2018 2019 2020 +26% +14% $1,702 M $1,097 M $938 M +83% +45% $233M $354M $76M $176M Q1'20 Q1'21 +132% +52% $309 M $529 M +55% YoY Growth +17% YoY Growth +72% YoY Growth Gamer and Creator Peripherals Gaming Components and Systems Total Source: Company Management Note: Financials in $M. 2018 and 2019 financials are not presented on a pro-forma basis for CORSAIR’s acquisitions of Elgato in 2018 and Origin and SCUF in 2019. Logo 26 Source: Company Management. Note: Financials in $M. 2018 and 2019 financials are not presented on a pro-forma basis for CORSAIR’S acquisitions of Elgato in 2018 and Origan and SCUF in 2019.

GROSS MARGIN EXPANSION IN BOTH OUR SEGMENTS SEGMENT GROSS PROFIT +16% YoY Growth +108% YoY Growth $119M $143M $276M $56M $91M $73M $81M $190M $22M $69M 2018 2019 2020 Q1'20 Q1'21 $465 M $224 M $193 M +11% +20% +133% +104% YoY Growth +211% +62% $79 M $160 M SEGMENT GROSS MARGIN 20.6% 27.3% 30.3% 16.9% 23.7% 25.9% 31.5% 35.2% 39.1% 2018 2020 Q1'21 Gamer and Creator Peripherals Gaming Components and Systems Total Source: Company Management Note: Financials in $M. 2018 and 2019 financials are not presented on a pro-forma basis for CORSAIR’s acquisitions of Elgato in 2018 and Origin and SCUF in 2019. Logo 27 Source: Company Management. Note: Financials in $M. 2018 and 2019 financials are not presented on a pro-forma basis for CORSAIR’S acquisitions of Elgato in 2018 and Origan and SCUF in 2019.

EXPANDING ADJUSTED EBITDA WITH LOW CAPEX Capex Spend (% of Revenue) 0.9% 0.8% 0.5% Adj EBITDA Margin 7.2% 6.5% $67 M $72 M $213 M 2018 2019 2020 Adjusted EBITDA (1) 12.5% $27 M $80 M Q1'20 Q1'21 8.8% 15.2% 0.6% 0.4% +197% YoY Growth Source: Company Management. Note: Financials in $M. (1) Adjusted EBITDA is determined by adding back to GAAP net income (loss) the acquisition accounting impacts related to recognizing acquired deferred revenue and inventory at fair value, stock-based compensation, certain acquisition-related and integration-related expenses, change in fair value of contingent consideration for business acquisition, executive transition costs, non-deferred costs associated with the IPO and the secondary offering, debt modification costs, intangible asset amortization, depreciation and amortization, interest expense (including loss on extinguishment of debt) and tax expense (benefit). While we believe Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operations, we urge you to review the reconciliation of Adjusted EBITDA to our most directly comparable GAAP financial measures set forth in the Appendix to this presentation. Note: 2018 and 2019 financials are not presented on a pro-forma basis for CORSAIR’s acquisitions of Elgato in 2018 and Origin and SCUF in 2019. Logo 28 Source: Company Management. Note: Financials in $M. [1] Adjusted EBITDA is determined by adding back to GAAP net income (loss) the acquisition accounting impacts related to recognizing acquired deferred revenue and inventory at fair value, stock-based compensation, certain acquisition-related and integration-related expenses, change in fair value of contingent consideration for business acquisition, executive transition costs, non-deferred costs associated with the IPO and the secondary offering, debt modification costs, intangible asset amortization, deprecation and amortization, interest expense (including loss on extinguishment of debt) and tax expense (benefit). While we believe Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operations, we urge you to review the reconciliation of Adjusted EBITDA to our most directly comparable GAAP financial measures set forth in the Appendix to this presentation. Note: 2018 and 2019 financials are not presented on a pro-forma basis for CORSAIR’S acquisitions of Elgato in 2018 and Origan and SCUF in 2019.

RECORD Q1 Net revenue growth of 71.6% to $529.4 million and Adjusted EBITDA nearly tripled to $80.4 million, driven by strong demand across all of our product lines as we continue to see elevated levels of gaming activity and casual gamers becoming committed gamers Record Gross margin of 30.3%, an increase of 480 basis points over Q1 20’, driven primarily by product mix Adjusted EPS of $0.58 up $0.45 over Q1’ 20 Cash flow from operations of $27.8 million used to pay down $28.0 million of debt Q1’21 Q1’20 YOY Net Revenue $529.4 $308.5 71.6% Gross Profit $160.3 $78.6 103.9% Gross Profit Margin 30.3% 25.5% 480 bps Operating Income $67.3 $13.3 404.5% Adjusted Operating Income $80.4 $25.0 221.4% Net Income $46.7 $1.2 3,739.2% Earnings per Share (diluted) $0.47 $0.01 4,600.0% Adjusted Net Income $58.2 $11.2 420.4% Adjusted Earnings per Share (diluted) $0.58 $0.13 346.2% Adjusted EBITDA $80.4 $27.1 196.6% Note: $M except EPS and percentages; See appendix for non-GAAP reconciliations Logo 29 Note: $M except EPS and percentages; See appendix for non-GAAP reconciliations.

GAMER AND CREATOR PERIPHERALS – Q1 RESULTS Gamer and Creator Peripherals segment net revenue more than doubled growing 131.9%, driven by sales of Elgato branded streaming products, as well as other peripherals including SCUF controllers Gamer and Creator Peripherals segment net revenue was almost a third of total net revenue, an increase of 860 basis points over Q1’20 Gamer and Creator Peripherals segment gross profit more than tripled to $68.9 million Gamer and Creator Peripherals segment gross margin was a record 39.1%, an increase of 990 basis points over Q1’ 20, largely mix driven with increasing sales of higher margin products, coupled with less promotional activities Q1’21 Q1’20 YOY Net Revenue $175.9 $75.9 131.9% % of Total Net Revenue 33.2% 24.6% 860 bps Gross Profit $68.9 $22.1 211.1% Gross Profit Margin 39.1% 29.2% 990 bps Note: $ M except percentages Logo 30 Note: $M except percentages.

GAMING COMPONENTS AND SYSTEMS –Q1 RESULTS Gaming Components and Systems segment net revenue growth of 51.9%, driven by strong sales across all products as more consumers buy and build $2K+ gaming PCs Gaming Components and Systems segment gross profit was $91.5 million, an increase of 61.9% over Q1’ 20 Gaming Components and Systems segment gross margin was 25.9%, an increase of 160 basis points over Q1’ 20, driven by increasing sales of higher margin products, coupled with less promotional activities Q1’21 Q1’20 YOY Net Revenue $353.5 $232.7 51.9% % of Total Net Revenue 66.8% 75.4% -860 bps Gross Profit $91.5 $56.5 61.9% Gross Profit Margin 25.9% 24.3% 160 bps Note: $ M except percentages Logo 31 Note: $M except percentages.

INCREASED FULL-YEAR 2021 GUIDANCE (1) Financial Metrics Net Revenue Adjusted Operating Income Adjusted EBITDA 2021 New Guidance $1.9-2.1 billion $235-255 million $245-265 million Old Guidance $1.8-1.95 billion $205-220 million $215-230 million (1) Actual results may differ materially from these estimates. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. We do not intend to update our financial outlook until our next quarterly results announcement. Estimates should not be viewed as a substitute for our full annual financial statements, and are not necessarily indicative of the results to be expected for any future period. Certain non GAAP measures included in our financial outlook were not reconciled to the comparable GAAP financial measures because the GAAP measures are not accessible on a forward-looking basis. We are unable to reconcile these forward looking non-GAAP financial measures to the most directly comparable GAAP measures without unreasonable efforts because we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Such items may include stock-based compensation charges, public offering related charges, depreciation and amortization, severance, and other items. The unavailable information could have a significant impact on our GAAP financial results Logo 32 (1) Actual results may differ materially from these estimates. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. We do not intend to update our financial outlook until our next quarterly results announcement. Estimates should not be viewed as a substitute for our full annual financial statements, and are not necessarily indicative of the results to be expected for any future period. Certain non-GAAP measures included in our financial outlook were not reconciled to the comparable GAAP financial measures because the GAAP measures are not accessible on a forward-looking basis. We are unable to reconcile these forward looking non-GAAP financial measures to the most directly comparable GAAP measures without unreasonable efforts because we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for these periods but would not impact the non-GAAP measures. Such items may include stock-based compensation charges, public offering related charges, depreciation and amortization, severance, and other items. The unavailable information could have a significant impact on our GAAP financial results

DEBT SUMMARY ($ in millions) Cash (excluding restricted cash) Term Loan (face value) Total Debt (face value) Net Debt March 31, 2021 $121.6 $299.0 $299.0 $177.3 Repaid $28 million of term loan debt during Q1’21 Expect to pay off an additional $72 million this year for a total of $100 million of term loan debt reduction subject to business conditions and any need for additional growth capital Logo 33

APPENDIX Logo 34

USE AND RECONCILIATION OF NON-GAAP FINANCIAL MEASURES To supplement the financial results presented in accordance with GAAP, this presentation includes certain non-GAAP financial information, including Adjusted Operating Income, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Net Income Per Share. These are important financial performance measures for us, but are not financial measures as defined by GAAP. The presentation of this non-GAAP financial information is not intended to be considered in isolation of or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use Adjusted Operating Income, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Net Income Per Share to evaluate our operating performance and trends and make planning decisions. We believe that these non-GAAP measures help identify underlying trends in our business that could otherwise be masked by the effect of the expenses and other items that we exclude in such non-GAAP measures. Accordingly, we believe that Adjusted Operating Income, Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Income and Adjusted Net Income Per Share provide useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects, and allowing for greater transparency with respect to the key financial metrics used by our management in our financial and operational decision-making. We also present these non-GAAP financial performance measures because we believe investors, analysts and rating agencies consider them useful in measuring our ability to meet our debt service obligations. Our use of these terms may vary from that of others in our industry. These non-GAAP financial measures should not be considered as an alternative to revenues, operating income, net income, cash provided by operating activities or any other measures derived in accordance with GAAP as measures of operating performance or liquidity. Reconciliations of these measures to the most directly comparable GAAP financial measures are presented in the attached schedules. We calculate these non-GAAP financial measures as follows: Adjusted operating income, non-GAAP, is determined by adding back to GAAP operating income the acquisition accounting impact related to recognizing acquired inventory at fair value, change in fair value of contingent consideration for business acquisition, stock-based compensation, intangible asset amortization, certain acquisition-related and integration-related expenses, non-deferred costs associated with the IPO, secondary offering costs, and debt modification costs. Adjusted net income, non-GAAP, is determined by adding back to GAAP net income the acquisition accounting impact related to recognizing acquired inventory at fair value, change in fair value of contingent consideration for business acquisition, stock- based compensation, intangible asset amortization, certain acquisition-related and integration-related expenses, non-deferred costs associated with the IPO, secondary offering costs, debt modification costs, loss on extinguishment of debt, and the related tax effects of each of these adjustments. Adjusted net income per diluted share, non-GAAP, is determined by dividing adjusted net income, non-GAAP by the respective weighted average shares outstanding, inclusive of the impact of other dilutive securities. Adjusted EBITDA is determined by adding back to GAAP net income the acquisition accounting impact related to recognizing acquired inventory at fair value, change in fair value of contingent consideration for business acquisition, stock-based compensation, certain acquisition-related and integration-related expenses, non-deferred costs associated with the IPO, secondary offering costs, debt modification costs, intangible asset amortization, depreciation and amortization, interest expense (including loss on extinguishment of debt) and tax expense. Adjusted EBITDA margin is determined by dividing adjusted EBITDA by net revenue for the respective periods. We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure and to view these non-GAAP financial measures in conjunction with the related GAAP financial measures. 35

36 GAAP TO NON-GAAP RECONCILIATIONS Non-GAAP Operating Income Reconciliations (unaudited, in thousands, except percentages)

37 GAAP TO NON-GAAP RECONCILIATIONS Non-GAAP Net Income and Net Income Per Share Reconciliations (unaudited, in thousands, except per share amounts and percentages)

38 ADJUSTED EBITDA RECONCILIATIONS Adjusted EBITDA Reconciliations (unaudited, in thousands, except percentages)

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