0001564590-21-023430 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2021	Apr. 26, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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	No
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		92,187,443
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

Condensed Combined Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Net revenue	$ 529,414	$ 308,518
Cost of revenue	369,086	229,896
Gross profit	160,328	78,622
Operating expenses:
Sales, general and administrative	77,853	53,729
Product development	15,186	11,556
Total operating expenses	93,039	65,285
Operating income	67,289	13,337
Other (expense) income:
Interest expense	(4,946)	(9,374)
Other expense, net	(2,425)	(63)
Total other expense, net	(7,371)	(9,437)
Income before income taxes	59,918	3,900
Income tax expense	(13,195)	(2,683)
Net income	$ 46,723	$ 1,217
Net income per share
Basic	$ 0.51	$ 0.01
Diluted	$ 0.47	$ 0.01
Weighted-average shares used to compute net income per share
Basic	91,951	84,079
Diluted	100,211	86,070

Condensed Combined Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Net income	$ 46,723	$ 1,217
Other comprehensive gain (loss):
Foreign currency translation adjustments, net of zero tax	165	(3,600)
Unrealized foreign exchange loss from long-term intercompany loans, net of tax benefit of $44 and $61 for the three months ended March 31, 2021 and 2020, respectively	(224)	(309)
Comprehensive income (loss)	$ 46,664	$ (2,692)

- 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

Condensed Combined Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation adjustments, net of tax	$ 0	$ 0
Unrealized foreign exchange gain (loss) from long-term intercompany loans, net of tax benefit (expense)	$ 44	$ 61

Condensed Combined Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Current assets:
Cash	$ 121,622	$ 129,543
Restricted cash	3,729	3,795
Accounts receivable, net	304,174	293,629
Inventories	234,611	226,007
Prepaid expenses and other current assets	47,508	37,997
Total current assets	711,644	690,971
Property and equipment, net	15,320	16,475
Goodwill	314,089	312,760
Intangible assets, net	252,243	259,317
Restricted cash, noncurrent	231	230
Other assets	39,900	34,362
TOTAL ASSETS	1,333,427	1,314,115
Current liabilities:
Accounts payable	272,251	299,636
Other liabilities and accrued expenses	227,019	205,745
Total current liabilities	499,270	505,381
Debt, net	294,254	321,393
Deferred tax liabilities	30,350	29,752
Other liabilities, noncurrent	21,846	20,199
TOTAL LIABILITIES	845,720	876,725
Commitments and Contingencies (Note 9)
Stockholders’ Equity:
Preferred stock, $0.0001 par value: 5,000 shares authorized, nil and nil shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively
Common stock, $0.0001 par value: 300,000 shares authorized, 92,087 and 91,935 shares issued and outstanding as of March 31, 2021 and December 31, 2020, respectively	9	9
Additional paid-in capital	442,320	438,667
Retained earnings (accumulated deficit)	43,910	(2,813)
Accumulated other comprehensive income	1,468	1,527
Total Stockholders’ Equity	487,707	437,390
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 1,333,427	$ 1,314,115

Condensed Combined Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement Of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	5,000,000	5,000,000
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	300,000,000
Common stock, shares issued	92,087,000	91,935,000
Common stock, shares outstanding	92,087,000	91,935,000

Condensed Combined Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss
Balance at Dec. 31, 2019	$ 216,775	$ 8	$ 324,968	$ (106,030)	$ (2,171)
Balance, shares at Dec. 31, 2019		84,079
Stock-based compensation	1,105		1,105
Other comprehensive loss	(3,909)				(3,909)
Net income	1,217			1,217
Balance at Mar. 31, 2020	215,188	$ 8	326,073	(104,813)	(6,080)
Balance, shares at Mar. 31, 2020		84,079
Balance at Dec. 31, 2020	437,390	$ 9	438,667	(2,813)	1,527
Balance, shares at Dec. 31, 2020		91,935
Issuance of common stock for stock option exercises	577		577
Issuance of common stock for stock option exercises		152
Stock-based compensation	3,076		3,076
Other comprehensive loss	(59)				(59)
Net income	46,723			46,723
Balance at Mar. 31, 2021	$ 487,707	$ 9	$ 442,320	$ 43,910	$ 1,468
Balance, shares at Mar. 31, 2021		92,087

- Definition

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

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

+ Details

- Definition

Total of all stockholders' equity (deficit) items, net of receivables from officers, directors, owners, and affiliates of the entity which are attributable to the parent. The amount of the economic entity's stockholders' equity attributable to the parent excludes the amount of stockholders' equity which is allocable to that ownership interest in subsidiary equity which is not attributable to the parent (noncontrolling interest, minority interest). This excludes temporary equity and is sometimes called permanent equity.

+ References + Details

Condensed Combined Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income	$ 46,723	$ 1,217
Adjustments to reconcile net income to net cash provided by operating activities:
Stock-based compensation	3,076	1,105
Depreciation	2,436	2,158
Amortization of intangible assets	8,702	8,447
Debt issuance costs amortization	537	579
Loss on debt extinguishment	439
Deferred income taxes	(3,005)	6
Gain on currency forward contract		(359)
Loss on foreign exchange		118
Net cash provided by operating activities	27,768	2,000
Other	1,316	743
Changes in operating assets and liabilities:
Accounts receivable	(13,416)	37,432
Inventories	(13,508)	145
Prepaid expenses and other assets	(4,419)	6,312
Accounts payable	(26,988)	(43,533)
Other liabilities and accrued expenses	25,875	(12,370)
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(1,684)
Payment of deferred and contingent consideration	(4,353)
Purchase of property and equipment	(2,036)	(1,847)
Net cash used in investing activities	(8,073)	(1,847)
Cash flows from financing activities:
Repayment of debt	(28,000)	(1,194)
Payment of other offering costs		(115)
Proceeds from exercise of stock options	185
Net cash used in financing activities	(27,815)	(1,309)
Effect of exchange rate changes on cash	134	(308)
Net decrease in cash and restricted cash	(7,986)	(1,464)
Cash and restricted cash at the beginning of the period	133,568	51,947
Cash and restricted cash at the end of the period	125,582	50,483
Supplemental cash flow disclosures:
Cash paid for interest	3,961	9,769
Cash paid for income taxes	413	6,199
Supplemental schedule of non-cash investing and financing activities:
Equipment purchased and unpaid at period end	1,558	600
Initial deferred and contingent purchase consideration	$ 735
Measurement period adjustment relating to business acquisitions		1,530
Deferred offering costs included in accounts payable and accrued expenses		$ 2,231

Description of Business and Basis of Presentation

3 Months Ended

Mar. 31, 2021

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Description of Business and Basis of Presentation

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 streaming gear, which includes capture cards, Stream Decks, USB microphones, studio accessories and EpocCam software, as well as coaching and training services and content design 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.

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 stockholders sold 6,500,000 shares of common stock at $17.00 per share. Subsequent to the IPO, certain 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 in either the IPO or the secondary.

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 condensed 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 condensed combined consolidated balance sheets as of December 31, 2020.

Basis of Presentation

Our interim condensed combined consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) regarding interim financial reporting. The accounting policies we follow are set forth in Part II, Item 8, Note 2, Significant Accounting Policies, of the Notes to the Combined Consolidated Financial Statements included in our Annual Report on Form 10K for the year ended December 31, 2020 which was filed with the SEC on March 11, 2021.

The condensed combined consolidated balance sheet as of December 31, 2020, included herein, was derived from the audited consolidated financial statements as of that date. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed, combined or omitted pursuant to such rules and regulations. Therefore, these interim condensed combined consolidated financial statements should be read in conjunction with our combined consolidated financial statements and notes thereto for the year ended December 31, 2020, included in our Annual Report on Form 10-K.

The interim condensed combined consolidated financial statements have been prepared on the same basis as the audited combined consolidated financial statements, and in management’s opinion, include all adjustments, which consist of only normal recurring adjustments necessary for the fair statement of our condensed combined consolidated balance sheet as of March 31, 2021 and our results of operations for the three months ended March 31, 2021 and 2020. The results for the three months ended March 31, 2021 are not necessarily indicative of the results expected for the current fiscal year or any other future periods.

Principles of Consolidation

The accompanying condensed combined consolidated financial statements include the accounts of Corsair and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation.

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Use of Estimates

The preparation of condensed 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 condensed 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. Actual results could differ materially from those estimates due to risks and uncertainties, including uncertainty in the current economic environment due to COVID-19.

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 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. In contrast, if the COVID-19 pandemic subsides in the second half of 2021, resulting in shelter-in-place and other similar restrictions being eased, it could result in consumers returning to other alternative forms of entertainment and interaction. This in turn could result in a decline in demand for our products. 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 condensed 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 condensed 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 condensed combined consolidated financial statements.

Recently Adopted Accounting Pronouncements

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. We adopted this standard effective January 1, 2021. The adoption of this new standard did not have a material impact on our condensed combined consolidated financial statements.

Accounting Pronouncements Issued but Not Yet Adopted

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 condensed combined consolidated financial statements.

Fair Value Measurement

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurement

3. Fair Value Measurement

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.

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:

	March 31, 2021
	(Level 1)		(Level 2)		(Level 3)		Total

	(in thousands)
Assets:
Foreign currency forward contracts⁽¹⁾	$	—	$	642	$	—	$	642
Other		—		19		—		19
Total assets	$	—	$	661	$	—	$	661

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽²⁾	$	—	$	—	$	1,250	$	1,250
Other		—		14		735		749
Total liabilities	$	—	$	14	$	1,985	$	1,999

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

	(In thousands)
Liabilities:
Contingent consideration in connection with a business acquisition—Origin⁽³⁾	$	—	$	—	$	2,887	$	2,887
Deferred 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⁽¹⁾		—		819		—		819
Total liabilities	$	—	$	819	$	5,642	$	6,461

(1)	The fair values of the forward contracts were based on similar exchange traded derivatives and the related asset or liability is included within Level 2 of the fair value hierarchy.

(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 involved inputs unobservable in the markets and thus represent a level 3 fair value measurement. The $1.3 million liability as of March 31, 2021 and December 31, 2020 consists of $0.1 million based on a 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 Origin earn-out liability of $2.9 million and deferred cash consideration of $1.5 million were fully paid and settled in the three months ended March 31, 2021.

- 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

3 Months Ended

Mar. 31, 2021

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 condensed 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 condensed 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 $38.6 million and $41.6 million as of March 31, 2021 and December 31, 2020, respectively, none of which have been designated as hedging instruments during the periods presented. The fair value gain recognized in other (expense) income, net in relation to these derivative instruments was $0.7 million and $0.3 million for the three months ended March 31, 2021 and 2020, respectively.

Business Combinations

3 Months Ended

Mar. 31, 2021

Business Combinations [Abstract]

Business Combinations

5. Business Combinations

2021 Immaterial Acquisition

In February 2021, we completed the immaterial acquisition of Visual by Impulse (“VBI”), a business that provides creative design services to streamers looking to professionalize the look of their broadcast. Total cash consideration for VBI was approximately $1.7 million and it was accounted for using the acquisition method of accounting.

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.

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

6. Goodwill and Intangible Assets

Goodwill

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)
Balance as of December 31, 2020	$	145,644		$	167,116	$	312,760
Addition from an immaterial business acquisition		—			1,272		1,272
Effect of foreign currency exchange rates		(18	)		75		57
Balance as of March 31, 2021	$	145,626		$	168,463	$	314,089

Intangible assets, net

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

				March 31, 2021						December 31, 2020
	Weighted Average Useful Life in Years	Weighted Average Remaining Amortization Period in Years		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

				(In thousands)
Developed technology	5.6	4.0		$	32,086	$	10,370	$	21,716	$	31,016	$	8,892	$	22,124
Trade name	15.0	13.3			30,807		3,397		27,410		30,632		2,873		27,759
Customer relationships	10.0	6.4			218,570		78,393		140,177		218,469		72,892		145,577
Patent	7.9	6.7			32,074		5,270		26,804		31,802		4,207		27,595
Non-competition agreements	5.0	1.4			2,521		1,815		706		2,521		1,689		832
Total finite-life intangibles		7.0			316,058		99,245		216,813		314,440		90,553		223,887
Indefinite life trade name	Indefinite life		—		35,430		—		35,430		35,430		—		35,430
Total intangible assets				$	351,488	$	99,245	$	252,243	$	349,870	$	90,553	$	259,317

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.

The estimated future amortization expense of intangible assets as of March 31, 2021 is as follows:

	Amounts
	(in thousands)
Remainder of 2021	$	26,092
2022		34,506
2023		32,899
2024		31,541
2025		31,051
Thereafter		60,724
Total	$	216,813

Balance Sheet Components

3 Months Ended

Mar. 31, 2021

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

7. Balance Sheet Components

Cash and Restricted Cash

	March 31, 2021		December 31, 2020

	(In thousands)
Cash	$	121,622	$	129,543
Restricted cash—short term		3,729		3,795
Restricted cash—noncurrent		231		230
Total cash and restricted cash	$	125,582	$	133,568

Accounts Receivable, net:

	March 31, 2021			December 31, 2020

	(In thousands)
Accounts receivable	$	304,715		$	293,975
Allowance for doubtful accounts		(541	)		(346	)
Accounts receivable, net	$	304,174		$	293,629

As of March 31, 2021, and December 31, 2020, two customers each represented 10% or more of our consolidated accounts receivable, net.

Inventories

	March 31, 2021		December 31, 2020

	(In thousands)
Raw materials	$	48,259	$	52,165
Work in progress		9,462		9,654
Finished goods		176,890		164,188
Inventories	$	234,611	$	226,007

Property and Equipment, Net

	March 31, 2021			December 31, 2020

	(In thousands)
Manufacturing equipment	$	22,609		$	22,035
Computer equipment, software and office equipment		9,572			9,407
Furniture and fixtures		3,662			3,675
Leasehold improvements		4,350			4,521
Total property and equipment	$	40,193		$	39,638
Less: Accumulated depreciation and amortization		(24,873	)		(23,163	)
Property and equipment, net	$	15,320		$	16,475

Other Liabilities and Accrued Expenses

	March 31, 2021		December 31, 2020

	(In thousands)
Accrued reserves for customer incentive programs	$	50,384	$	49,619
Accrued reserves for sales return		38,078		35,673
Accrued payroll and related expense		19,659		26,877
Income tax payable		37,749		22,445
Sales and use tax and value-added tax payables		15,932		9,284
Contract liabilities		11,600		9,787
Operating lease liabilities, current		9,589		9,070
Other		44,028		42,990
Other liabilities and accrued expenses	$	227,019	$	205,745

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 purchase 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 March 31, 2021 and December 31, 2020, we recognized $10.8 million and $5.9 million, respectively, prepaid inventory and accrued liabilities in the condensed combined consolidated balance sheet for such nonmonetary transactions with our manufacturers.

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

Debt

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Debt

8. Debt

First Lien Credit and Guaranty Agreement

In August 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 matures 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 operation 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.

According to the repayment schedule, the Consolidated Excess Cash Flow (as defined in the First Lien) and the IPO repayment provisions as set forth in the First Lien, we have made required repayments of the First Lien Term Loan of $59.6 million, in aggregate, in 2020, consisting of $1.2 million in March 2020, $2.6 million in April 2020 and $55.8 million in September 2020, with our IPO proceeds. There is no further repayment required under the First Lien Term Loan until it matures in full in August 2024.

We may prepay the First Lien Term Loan and the Revolver at any time without premium or penalty other than customary LIBOR breakage. With the excess cash on hand, we have made voluntary prepayments in aggregate of $80.8 million in 2020, consisting of $30.8 million in September 2020, with our IPO proceeds, $25.0 million in November 2020 and $25.0 million in December 2020. We further prepaid $28.0 million in March 2021.

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

	March 31, 2021			December 31, 2020
	(In thousands)
Principal amount outstanding	$	298,938		$	326,938
Less: Debt discount, net of amortization		(1,794	)		(2,124	)
Less: Debt issuance costs, net of amortization		(2,890	)		(3,421	)
Carrying amount	$	294,254		$	321,393

The fair value of the First Lien Term Loan was approximately $298.2 million and $326.5 million as of March 31, 2021 and December 31, 2020, respectively. The fair values were determined based on the quoted bid price of the First Lien Term Loan in a syndicated loan market on the reporting date. The First Lien Term Loan is classified as Level 1 of the fair value hierarchy.

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 March 31, 2021, 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

In August 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 2020, with excess cash on hand, we repaid an aggregate of $50 million of the Second Lien Term Loan, consisting of $10.0

million in May 2020, $15.0 million in August 2020 and $25.0 million in September 2020. Following these repayments, the Second Lien Term Loan was fully repaid and all obligations and covenants thereunder were terminated.

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

	Three Months Ended March 31,
	2021		2020
	(In thousands)
Contractual interest expense for First Lien and Second Lien Term Loan	$	3,882	$	8,638
Contractual interest expense for Revolver		—		15
Amortization of debt discount		162		243
Amortization of debt issuance costs		375		336
Loss on debt extinguishment		439		—
Total interest expense recognized	$	4,858	$	9,232

The annual weighted average effective interest rate used for amortizing the debt discount and debt issuance costs for the First Lien and Second Lien, in aggregate, were approximately 6.45% and 6.92% for the three months ended March 31, 2021 and 2020, respectively.

The estimated future principal payments under our total long-term debt as of March 31, 2021 are as follows:

	Amounts
	(In thousands)
Remainder of 2021	$	—
2022		—
2023		—
2024		298,938
2025		—
Thereafter		—
Total debt	$	298,938
Less: Discount and debt issuance costs		(4,684	)
Total Debt, net of discount and debt issuance costs	$	294,254
Presented on the condensed combined consolidated balance sheet under:
Current portion of debt, net	$	—
Debt, net	$	294,254

Commitments and Contingencies

3 Months Ended

Mar. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

9. Commitments and Contingencies

Product Warranties

Changes in our warranty obligations were as follows:

	Three Months Ended March 31,
	2021			2020

	(In thousands)
Beginning of the period	$	5,865		$	3,991
Warranty provision related to products shipped		1,873			1,365
Deductions for warranty claims processed		(1,737	)		(1,039	)
End of period	$	6,001		$	4,317

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. Long-term non-cancelable purchase commitment as of March 31, 2021 were as follows:

	Amounts
	(in thousands)
Remainder of 2021	$	1,504
2022		2,104
2023		1,282
2024		1,263
2025		157
Thereafter		—
Total	$	6,310

Our total non-cancelable purchase commitments outstanding as of December 31, 2020 were $6.8 million.

Letters of Credit

The total letters of credit outstanding, in aggregate, was $2.0 million and $2.0 million as of March 31, 2021 and December 31, 2020, 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 condensed combined consolidated balance sheets, statements of operations, or statements of cash flows. We currently have directors’ and officers’ insurance.

Significant Operating Lease Arrangement Executed After March 31, 2021

On April 27, 2021, we entered into an operating lease agreement for our new Milpitas headquarters in California, U.S. The lease term of this new agreement is 10.5 years with the accounting lease commencement date expected to be in May 2021 and the total undiscounted fixed lease payment for this agreement is approximately $45.6 million. The lease agreement for our existing Fremont headquarters will expire in March 2022.

Stockholders Equity

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders Equity

10. Stockholders’ Equity

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 March 31, 2021.

Equity Incentive Plans and Stock-Based Compensation

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Stock-Based Compensation

11. Equity Incentive Plans and Stock-Based Compensation

As of March 31, 2021, we have two active equity incentive plans: the 2020 Equity Incentive Plan and the Employee Stock Purchase Plan (“ESPP”).

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

	Three Months Ended March 31,
	2021			2020

	(In thousands)
Cost of revenue	$	181		$	63
Sales, general and administrative		2,572			880
Product development		323			162
Total stock-based compensation expense		3,076			1,105
Income tax benefit		(919	)		—
Total stock-based compensation expense, net of income tax benefit	$	2,157		$	1,105

As of March 31, 2021, we had $30.3 million of total unrecognized stock-based compensation relating to options and restricted stock units which is expected to be amortized over a weighted-average period of 3.0 years. As of March 31, 2021, we had $0.5 million of total unrecognized stock-based compensation relating to ESPP which is expected to be amortized over a weighted-average period of 0.5 years.

The total intrinsic value of options exercised for the three months ended March 31, 2021 was $4.4 million. There were no stock options exercises for the three months ended March 31, 2020.

Net Income Per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Net Income Per Share

12. Net Income Per Share

The following table summarizes the calculation of basic and diluted net income per share:

	Three Months Ended March 31,
	2021		2020
	(in thousands, except per share amounts)
Numerator
Net income, basic and diluted	$	46,723	$	1,217
Denominator
Weighted-average shares used to compute net income per share, basic		91,951		84,079
Effect of dilutive securities ⁽¹⁾		8,260		1,991
Weighted-average shares used to compute net income per share, diluted		100,211		86,070
Net income per share:
Basic	$	0.51	$	0.01
Diluted	$	0.47	$	0.01

Anti-dilutive potential common shares ⁽¹⁾		369		2,807

(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

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

13. Income Taxes

The table below presents our income (loss) before income taxes, income tax (expense) benefit and effective income tax rates for all periods presented:

	Three Months Ended March 31,
	2021			2020

	(in thousands)
Income before income taxes	$	59,918		$	3,900
Income tax expense		(13,195	)		(2,683	)
Effective tax rate		22.0	%		68.8	%

We are subject to income taxes in the United States and foreign jurisdictions in which we do business. These foreign jurisdictions have statutory tax rates different from those in the United States. Accordingly, our effective tax rates will vary depending on the relative proportion of foreign to United States income, the utilization of net operating loss and tax credit carry forwards, changes in geographic mix of income and expense, and changes in management’s assessment of matters such as the ability to realize deferred tax assets, and changes in tax laws.

Our effective tax rates were tax expense of 22.0% and 68.8% for the three months ended March 31, 2021 and 2020, respectively. The decrease in the effective income tax rate from the three months ended March 31, 2020 was primarily due to U.S. tax losses and credits in that period being subject to a valuation allowance, whereas only an insignificant valuation allowance was necessary for the three months ended March 31, 2021.

In the three months ended March 31, 2020 we recorded a $0.6 million one-time tax benefit from the change in tax law resulting from the enactment of the CARES Act in the first quarter 2020.

Unrecognized tax benefits were $1.3 million and $1.2 million as of March 31, 2021 and December 31, 2020, respectively, and if recognized, would favorably affect the effective income tax rate in future periods.

- 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

Segment and Geographic Information

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Segment and Geographic Information

14. Segment and Geographic Information

We have two reportable segments:

•

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

The segments are defined as those operations our chief operating decision maker (“CODM”) regularly reviews to analyze performance and allocate resources. 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. Management measures net revenue and gross profit to evaluate the performance of, and allocate resources to, each of the segments.

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

	Three Months Ended March 31,
	2021		2020
	(In thousands)
Net revenue
Gaming and Creator Peripherals	$	175,912	$	75,861
Gaming Components and Systems		353,502		232,657
Total net revenue	$	529,414	$	308,518
Gross Profit
Gaming and Creator Peripherals	$	68,866	$	22,133
Gaming Components and Systems		91,462		56,489
Total gross profit	$	160,328	$	78,622

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:

	Three Months Ended March 31,
	2021		2020
	(In thousands)
Net revenue
Americas	$	226,388	$	123,710
Europe and Middle East		225,494		110,550
Asia Pacific		77,532		74,258
Total net revenue	$	529,414	$	308,518

Revenues from sales to customers in the United States represented 36.2% and 32.9% for the three months ended March 31, 2021 and, 2020, respectively. No other countries besides the United States represented 10% or more of total net revenue for each of the periods presented.

One customer represented at least 10% of total net revenue for each of the periods presented.

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

	March 31, 2021		December 31, 2020
	(In thousands)
United States	$	4,733	$	5,764
China		6,333		6,334
Taiwan		3,126		2,992
Other countries		1,128		1,385
Total property and equipment, net	$	15,320	$	16,475

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-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 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
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+ Details

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2021

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

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 in either the IPO or the secondary.

Basis of Presentation

Principles of Consolidation

Use of Estimates

Risks and Uncertainties related to COVID-19 Pandemic

Risks and Uncertainties related to the COVID-19 Pandemic

Recently Adopted Accounting Pronouncements

Accounting Pronouncements Issued but Not Yet Adopted

Nonmonetary Transactions

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

Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities that Measured at Fair Value

	March 31, 2021
	(Level 1)		(Level 2)		(Level 3)		Total

	(in thousands)
Assets:
Foreign currency forward contracts⁽¹⁾	$	—	$	642	$	—	$	642
Other		—		19		—		19
Total assets	$	—	$	661	$	—	$	661

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽²⁾	$	—	$	—	$	1,250	$	1,250
Other		—		14		735		749
Total liabilities	$	—	$	14	$	1,985	$	1,999

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

	(In thousands)
Liabilities:
Contingent consideration in connection with a business acquisition—Origin⁽³⁾	$	—	$	—	$	2,887	$	2,887
Deferred 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⁽¹⁾		—		819		—		819
Total liabilities	$	—	$	819	$	5,642	$	6,461

(1)	The fair values of the forward contracts were based on similar exchange traded derivatives and the related asset or liability is included within Level 2 of the fair value hierarchy.

(2)

(3)	The Origin earn-out liability of $2.9 million and deferred cash consideration of $1.5 million were fully paid and settled in the three months ended March 31, 2021.

Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2021

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)
Balance as of December 31, 2020	$	145,644		$	167,116	$	312,760
Addition from an immaterial business acquisition		—			1,272		1,272
Effect of foreign currency exchange rates		(18	)		75		57
Balance as of March 31, 2021	$	145,626		$	168,463	$	314,089

Summary of Intangible Assets, Net

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

				March 31, 2021						December 31, 2020
	Weighted Average Useful Life in Years	Weighted Average Remaining Amortization Period in Years		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

				(In thousands)
Developed technology	5.6	4.0		$	32,086	$	10,370	$	21,716	$	31,016	$	8,892	$	22,124
Trade name	15.0	13.3			30,807		3,397		27,410		30,632		2,873		27,759
Customer relationships	10.0	6.4			218,570		78,393		140,177		218,469		72,892		145,577
Patent	7.9	6.7			32,074		5,270		26,804		31,802		4,207		27,595
Non-competition agreements	5.0	1.4			2,521		1,815		706		2,521		1,689		832
Total finite-life intangibles		7.0			316,058		99,245		216,813		314,440		90,553		223,887
Indefinite life trade name	Indefinite life		—		35,430		—		35,430		35,430		—		35,430
Total intangible assets				$	351,488	$	99,245	$	252,243	$	349,870	$	90,553	$	259,317

Schedule of Estimated Future Amortization Expense of Intangible Assets

The estimated future amortization expense of intangible assets as of March 31, 2021 is as follows:

	Amounts
	(in thousands)
Remainder of 2021	$	26,092
2022		34,506
2023		32,899
2024		31,541
2025		31,051
Thereafter		60,724
Total	$	216,813

Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2021

Balance Sheet Related Disclosures [Abstract]

Summary of Cash and Restricted Cash

Cash and Restricted Cash

	March 31, 2021		December 31, 2020

	(In thousands)
Cash	$	121,622	$	129,543
Restricted cash—short term		3,729		3,795
Restricted cash—noncurrent		231		230
Total cash and restricted cash	$	125,582	$	133,568

Summary of Accounts Receivable, Net

Accounts Receivable, net:

	March 31, 2021			December 31, 2020

	(In thousands)
Accounts receivable	$	304,715		$	293,975
Allowance for doubtful accounts		(541	)		(346	)
Accounts receivable, net	$	304,174		$	293,629

Summary of Inventories

Inventories

	March 31, 2021		December 31, 2020

	(In thousands)
Raw materials	$	48,259	$	52,165
Work in progress		9,462		9,654
Finished goods		176,890		164,188
Inventories	$	234,611	$	226,007

Summary of Property and Equipment, Net

Property and Equipment, Net

	March 31, 2021			December 31, 2020

	(In thousands)
Manufacturing equipment	$	22,609		$	22,035
Computer equipment, software and office equipment		9,572			9,407
Furniture and fixtures		3,662			3,675
Leasehold improvements		4,350			4,521
Total property and equipment	$	40,193		$	39,638
Less: Accumulated depreciation and amortization		(24,873	)		(23,163	)
Property and equipment, net	$	15,320		$	16,475

Summary of Other Liabilities and Accrued Expenses

Other Liabilities and Accrued Expenses

	March 31, 2021		December 31, 2020

	(In thousands)
Accrued reserves for customer incentive programs	$	50,384	$	49,619
Accrued reserves for sales return		38,078		35,673
Accrued payroll and related expense		19,659		26,877
Income tax payable		37,749		22,445
Sales and use tax and value-added tax payables		15,932		9,284
Contract liabilities		11,600		9,787
Operating lease liabilities, current		9,589		9,070
Other		44,028		42,990
Other liabilities and accrued expenses	$	227,019	$	205,745

Debt (Tables)

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Abstract]

Summary of Carrying Value of First Lien Term Loan

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

	March 31, 2021			December 31, 2020
	(In thousands)
Principal amount outstanding	$	298,938		$	326,938
Less: Debt discount, net of amortization		(1,794	)		(2,124	)
Less: Debt issuance costs, net of amortization		(2,890	)		(3,421	)
Carrying amount	$	294,254		$	321,393

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:

	Three Months Ended March 31,
	2021		2020
	(In thousands)
Contractual interest expense for First Lien and Second Lien Term Loan	$	3,882	$	8,638
Contractual interest expense for Revolver		—		15
Amortization of debt discount		162		243
Amortization of debt issuance costs		375		336
Loss on debt extinguishment		439		—
Total interest expense recognized	$	4,858	$	9,232

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

The estimated future principal payments under our total long-term debt as of March 31, 2021 are as follows:

	Amounts
	(In thousands)
Remainder of 2021	$	—
2022		—
2023		—
2024		298,938
2025		—
Thereafter		—
Total debt	$	298,938
Less: Discount and debt issuance costs		(4,684	)
Total Debt, net of discount and debt issuance costs	$	294,254
Presented on the condensed combined consolidated balance sheet under:
Current portion of debt, net	$	—
Debt, net	$	294,254

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2021

Commitments And Contingencies Disclosure [Abstract]

Schedule of Changes in Warranty

Changes in our warranty obligations were as follows:

	Three Months Ended March 31,
	2021			2020

	(In thousands)
Beginning of the period	$	5,865		$	3,991
Warranty provision related to products shipped		1,873			1,365
Deductions for warranty claims processed		(1,737	)		(1,039	)
End of period	$	6,001		$	4,317

Schedule of Long-Term Non-Cancelable Purchase Commitment

Long-term non-cancelable purchase commitment as of March 31, 2021 were as follows

	Amounts
	(in thousands)
Remainder of 2021	$	1,504
2022		2,104
2023		1,282
2024		1,263
2025		157
Thereafter		—
Total	$	6,310

Equity Incentive Plans and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Summary of Stock-based Compensation Expense

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

	Three Months Ended March 31,
	2021			2020

	(In thousands)
Cost of revenue	$	181		$	63
Sales, general and administrative		2,572			880
Product development		323			162
Total stock-based compensation expense		3,076			1,105
Income tax benefit		(919	)		—
Total stock-based compensation expense, net of income tax benefit	$	2,157		$	1,105

Net Income Per Share (Tables)

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Abstract]

Computation of Basic and Diluted Net Income Per Share

The following table summarizes the calculation of basic and diluted net income per share:

	Three Months Ended March 31,
	2021		2020
	(in thousands, except per share amounts)
Numerator
Net income, basic and diluted	$	46,723	$	1,217
Denominator
Weighted-average shares used to compute net income per share, basic		91,951		84,079
Effect of dilutive securities ⁽¹⁾		8,260		1,991
Weighted-average shares used to compute net income per share, diluted		100,211		86,070
Net income per share:
Basic	$	0.51	$	0.01
Diluted	$	0.47	$	0.01

Anti-dilutive potential common shares ⁽¹⁾		369		2,807

(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)

3 Months Ended

Mar. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of Income (Loss) Before Income Taxes, Income Tax (Expense) Benefit and Effective Income Tax Rates

The table below presents our income (loss) before income taxes, income tax (expense) benefit and effective income tax rates for all periods presented:

	Three Months Ended March 31,
	2021			2020

	(in thousands)
Income before income taxes	$	59,918		$	3,900
Income tax expense		(13,195	)		(2,683	)
Effective tax rate		22.0	%		68.8	%

Segment and Geographic Information (Tables)

3 Months Ended

Mar. 31, 2021

Segment Reporting [Abstract]

Summary of Financial Information for Each Reportable Segment

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

	Three Months Ended March 31,
	2021		2020
	(In thousands)
Net revenue
Gaming and Creator Peripherals	$	175,912	$	75,861
Gaming Components and Systems		353,502		232,657
Total net revenue	$	529,414	$	308,518
Gross Profit
Gaming and Creator Peripherals	$	68,866	$	22,133
Gaming Components and Systems		91,462		56,489
Total gross profit	$	160,328	$	78,622

Summary of Net Revenue By Geographic Region

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

	Three Months Ended March 31,
	2021		2020
	(In thousands)
Net revenue
Americas	$	226,388	$	123,710
Europe and Middle East		225,494		110,550
Asia Pacific		77,532		74,258
Total net revenue	$	529,414	$	308,518

Summary of Property And Equipment, Net by Country

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

	March 31, 2021		December 31, 2020
	(In thousands)
United States	$	4,733	$	5,764
China		6,333		6,334
Taiwan		3,126		2,992
Other countries		1,128		1,385
Total property and equipment, net	$	15,320	$	16,475

Description of Business and Basis of Presentation - Additional Information (Detail)					3 Months Ended
	Jan. 26, 2021 $ / shares shares	Sep. 26, 2020 shares	Sep. 25, 2020 USD ($) $ / shares shares	Sep. 15, 2020 shares	Mar. 31, 2021 USD ($) Segment shares	Dec. 31, 2020 USD ($) 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	92,087,000	91,935,000
Options outstanding to purchase common stock				10,029,388
Deferred offering costs \| $						$ 12,000,000.0
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
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 (Details) - ASU 2019-12	Mar. 31, 2021
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, 2021
Change in accounting principle, accounting standards update, immaterial effect	true

- Definition

Indicates (true false) whether accounting standards update was adopted.

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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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+ Details

Fair Value Measurement - Summary of Financial Assets and Liabilities that Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Deferred Cash Consideration Business Acquisition Origin
Liabilities:
Liabilities	$ 1,500
Fair Value Recurring Basis
Assets:
Assets	661
Liabilities:
Liabilities	1,999	$ 6,461
Fair Value Recurring Basis \| Foreign Currency Forward Contracts
Assets:
Assets	642
Liabilities:
Liabilities		819
Fair Value Recurring Basis \| Other
Assets:
Assets	19
Liabilities:
Liabilities	749
Fair Value Recurring Basis \| Deferred Cash Consideration Business Acquisition SCUF
Liabilities:
Liabilities	1,250	1,250
Fair Value Recurring Basis \| Contingent Consideration Business Acquisition Origin
Liabilities:
Liabilities		2,887
Fair Value Recurring Basis \| Deferred Cash Consideration Business Acquisition Origin
Liabilities:
Liabilities		1,505
Fair Value Recurring Basis \| (Level 2)
Assets:
Assets	661
Liabilities:
Liabilities	14	819
Fair Value Recurring Basis \| (Level 2) \| Foreign Currency Forward Contracts
Assets:
Assets	642
Liabilities:
Liabilities		819
Fair Value Recurring Basis \| (Level 2) \| Other
Assets:
Assets	19
Liabilities:
Liabilities	14
Fair Value Recurring Basis \| (Level 3)
Liabilities:
Liabilities	1,985	5,642
Fair Value Recurring Basis \| (Level 3) \| Other
Liabilities:
Liabilities	735
Fair Value Recurring Basis \| (Level 3) \| Deferred Cash Consideration Business Acquisition SCUF
Liabilities:
Liabilities	$ 1,250	1,250
Fair Value Recurring Basis \| (Level 3) \| Contingent Consideration Business Acquisition Origin
Liabilities:
Liabilities		2,887
Fair Value Recurring Basis \| (Level 3) \| Deferred Cash Consideration Business Acquisition Origin
Liabilities:
Liabilities		$ 1,505

Fair Value Measurement - Summary of Financial Assets and Liabilities that Measured at Fair Value (Parenthetical) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn out liability	$ 4,353
Contingent Consideration Business Acquisition SCUF
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities	1,300
Contingent Consideration Business Acquisitions Origin
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Earn out liability	2,900
Deferred Cash Consideration Business Acquisition Origin
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities	1,500
Contractual Amount \| Contingent Consideration Business Acquisition SCUF
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities	100
Tax Return Filing Adjustment \| Contingent Consideration Business Acquisition SCUF
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities	$ 1,200

Derivative Financial Instruments - Additional Information (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($) Derivative	Mar. 31, 2020 USD ($)	Dec. 31, 2020 USD ($)
Derivative Instruments Gain Loss [Line Items]
Derivative instruments for trading purposes \| Derivative	0
Designated as Hedging Instruments
Derivative Instruments Gain Loss [Line Items]
Derivative, amount of hedged item	$ 0
Foreign Currency Forward Contracts \| Non Designated
Derivative Instruments Gain Loss [Line Items]
Notional principal amount	38,600		$ 41,600
Foreign Currency Forward Contracts \| Non Designated \| Other (Expense) Income
Derivative Instruments Gain Loss [Line Items]
Fair value gain (loss) recognized	$ 700	$ 300
Minimum \| Foreign Currency Forward Contracts \| Non Designated
Derivative Instruments Gain Loss [Line Items]
Derivative maturity term	3 months
Maximum \| Foreign Currency Forward Contracts \| Non Designated
Derivative Instruments Gain Loss [Line Items]
Derivative maturity term	4 months

Business Combinations - Additional Information (Details) - Series of Individually Immaterial Business Acquisitions $ in Millions		12 Months Ended
	Feb. 28, 2021 USD ($)	Dec. 31, 2020 USD ($) Acquisition
Business Acquisition [Line Items]
Purchase consideration \| $	$ 1.7	$ 1.3
Number of acquisitions \| Acquisition		2

Goodwill and Intangible Assets - Summary of Changes in Carrying Amount of Goodwill by Reportable Segment (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2021 USD ($)
Goodwill [Line Items]
Balance	$ 312,760
Addition from an immaterial business acquisition	1,272
Effect of foreign currency exchange rates	57
Balance	314,089
Gaming Components and Systems
Goodwill [Line Items]
Balance	145,644
Effect of foreign currency exchange rates	(18)
Balance	145,626
Gamer and Creator Peripherals
Goodwill [Line Items]
Balance	167,116
Addition from an immaterial business acquisition	1,272
Effect of foreign currency exchange rates	75
Balance	$ 168,463

Goodwill and Intangible Assets - Summary of Intangible Assets, Net (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Weighted Average Remaining Amortization Period in Years	7 years
Total finite-life intangibles, Gross Carrying Amount	$ 316,058	$ 314,440
Total finite-life intangibles, Accumulated Amortization	99,245	90,553
Total finite-life intangibles, Net Carrying Amount	216,813	223,887
Total intangible assets, Gross Carrying Amount	351,488	349,870
Total intangible assets, Net Carrying Amount	252,243	259,317
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
Total finite-life intangibles, Gross Carrying Amount	$ 32,086	31,016
Total finite-life intangibles, Accumulated Amortization	10,370	8,892
Total finite-life intangibles, Net Carrying Amount	$ 21,716	22,124
Trade Name
Weighted Average Useful Life	15 years
Weighted Average Remaining Amortization Period in Years	13 years 3 months 18 days
Total finite-life intangibles, Gross Carrying Amount	$ 30,807	30,632
Total finite-life intangibles, Accumulated Amortization	3,397	2,873
Total finite-life intangibles, Net Carrying Amount	$ 27,410	27,759
Customer Relationships
Weighted Average Useful Life	10 years
Weighted Average Remaining Amortization Period in Years	6 years 4 months 24 days
Total finite-life intangibles, Gross Carrying Amount	$ 218,570	218,469
Total finite-life intangibles, Accumulated Amortization	78,393	72,892
Total finite-life intangibles, Net Carrying Amount	$ 140,177	145,577
Patent
Weighted Average Useful Life	7 years 10 months 24 days
Weighted Average Remaining Amortization Period in Years	6 years 8 months 12 days
Total finite-life intangibles, Gross Carrying Amount	$ 32,074	31,802
Total finite-life intangibles, Accumulated Amortization	5,270	4,207
Total finite-life intangibles, Net Carrying Amount	$ 26,804	27,595
Non-competition Agreements
Weighted Average Useful Life	5 years
Weighted Average Remaining Amortization Period in Years	1 year 4 months 24 days
Total finite-life intangibles, Gross Carrying Amount	$ 2,521	2,521
Total finite-life intangibles, Accumulated Amortization	1,815	1,689
Total finite-life intangibles, Net Carrying Amount	$ 706	$ 832

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2021	$ 26,092
2022	34,506
2023	32,899
2024	31,541
2025	31,051
Thereafter	60,724
Total finite-life intangibles, Net Carrying Amount	$ 216,813	$ 223,887

Balance Sheet Components - Summary of Cash and Restricted Cash (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Balance Sheet Related Disclosures [Abstract]
Cash	$ 121,622	$ 129,543
Restricted cash	3,729	3,795
Restricted cash, noncurrent	231	230
Total cash and restricted cash	$ 125,582	$ 133,568	$ 50,483	$ 51,947

Balance Sheet Components - Summary of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accounts receivable	$ 304,715	$ 293,975
Allowance for doubtful accounts	(541)	(346)
Accounts receivable, net	$ 304,174	$ 293,629

Balance Sheet Components - Additional Information (Details) $ in Millions	Mar. 31, 2021 USD ($) Customer	Dec. 31, 2020 USD ($) Customer
Inventory Exchanges
Concentration Risk [Line Items]
Sales and purchases of inventories in prepaid inventories and accrued liabilities \| $	$ 10.8	$ 5.9
Accounts Receivable \| Credit Concentration Risk
Concentration Risk [Line Items]
Number of customers \| Customer	2	2

Balance Sheet Components - Summary of Inventories (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Raw materials	$ 48,259	$ 52,165
Work in progress	9,462	9,654
Finished goods	176,890	164,188
Inventories	$ 234,611	$ 226,007

Balance Sheet Components - Summary of Property and Equipment, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Property Plant And Equipment [Line Items]
Total property and equipment	$ 40,193	$ 39,638
Less: Accumulated depreciation and amortization	(24,873)	(23,163)
Property and equipment, net	15,320	16,475
Manufacturing Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	22,609	22,035
Computer Equipment, Software and Office Equipment
Property Plant And Equipment [Line Items]
Total property and equipment	9,572	9,407
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Total property and equipment	3,662	3,675
Leasehold Improvements
Property Plant And Equipment [Line Items]
Total property and equipment	$ 4,350	$ 4,521

Balance Sheet Components - Summary of Other Liabilities and Accrued Expenses (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Abstract]
Accrued reserves for customer incentive programs	$ 50,384	$ 49,619
Accrued reserves for sales return	38,078	35,673
Accrued payroll and related expense	19,659	26,877
Income tax payable	37,749	22,445
Sales and use tax and value-added tax payables	15,932	9,284
Contract liabilities	11,600	9,787
Operating lease liabilities, current	9,589	9,070
Other	44,028	42,990
Other liabilities and accrued expenses	$ 227,019	$ 205,745

Debt - Additional Information (Details) - USD ($)	1 Months Ended											3 Months Ended		12 Months Ended
Debt - Additional Information (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Nov. 30, 2020	Sep. 30, 2020	Aug. 31, 2020	May 31, 2020	Apr. 30, 2020	Mar. 31, 2020	Oct. 31, 2018	Oct. 31, 2017	Aug. 31, 2017	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Repayment of debt												$ 28,000,000	$ 1,194,000
Principal amount outstanding	$ 298,938,000											298,938,000
First Lien Term Loan
Debt Instrument [Line Items]
Principal amount											$ 235,000,000				$ 115,000,000	$ 115,000,000	$ 10,000,000
Debt instrument, maturity date											Aug. 28, 2024
Principal amount outstanding	298,938,000	$ 326,938,000										298,938,000		$ 326,938,000
First Lien Term Loan \| (Level 1)
Debt Instrument [Line Items]
Principal amount outstanding	298,200,000	326,500,000										298,200,000		326,500,000
First Lien Term Loan \| Initial Public Offering
Debt Instrument [Line Items]
Repayment of debt				$ 55,800,000			$ 2,600,000	$ 1,200,000				$ 0		59,600,000
Debt instrument, maturity date												2024-08
Voluntary prepayments of term loans	$ 28,000,000.0	$ 25,000,000.0	$ 25,000,000.0	30,800,000										80,800,000
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 \| 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				$ 25,000,000.0	$ 15,000,000.0	$ 10,000,000.0								$ 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%
First Lien and Second Lien Term Loan
Debt Instrument [Line Items]
Annual weighted average effective interest rate	6.45%							6.92%				6.45%	6.92%

Debt - Summary of Carrying Value of First Lien Term Loan (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Principal amount outstanding	$ 298,938
Total Debt, net of discount and debt issuance costs	294,254
First Lien Term Loan
Debt Instrument [Line Items]
Principal amount outstanding	298,938	$ 326,938
Less: Debt discount, net of amortization	(1,794)	(2,124)
Less: Debt issuance costs, net of amortization	(2,890)	(3,421)
Total Debt, net of discount and debt issuance costs	$ 294,254	$ 321,393

Debt - Summary of Interest Expense Recognized for First Lien and Second Lien (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Debt Instrument [Line Items]
Loss on debt extinguishment	$ 439
Total interest expense recognized	4,946	$ 9,374
First Lien and Second Lien Term Loan
Debt Instrument [Line Items]
Contractual interest expense	3,882	8,638
Amortization of debt discount	162	243
Amortization of debt issuance costs	375	336
Loss on debt extinguishment	439
Total interest expense recognized	$ 4,858	9,232
Revolver
Debt Instrument [Line Items]
Contractual interest expense		$ 15

Debt - Summary of Estimated Future Principal Payments under Total Long-term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2024	$ 298,938
Total debt	298,938
Less: Discount and debt issuance costs	(4,684)
Total Debt, net of discount and debt issuance costs	294,254
Presented on the condensed combined consolidated balance sheet under:
Debt, net	$ 294,254	$ 321,393

Commitments and Contingencies - Schedule of Changes in Warranty Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Commitments And Contingencies Disclosure [Abstract]
Beginning of the period	$ 5,865	$ 3,991
Warranty provision related to products shipped	1,873	1,365
Deductions for warranty claims processed	(1,737)	(1,039)
End of period	$ 6,001	$ 4,317

Commitments and Contingencies - Schedule of Long-Term Non-Cancelable Purchase Commitment (Details) $ in Thousands	Mar. 31, 2021 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Remainder of 2021	$ 1,504
2022	2,104
2023	1,282
2024	1,263
2025	157
Total	$ 6,310

Commitments and Contingencies - Additional Information (Details)		3 Months Ended
	Apr. 27, 2021 USD ($)	Mar. 31, 2021 USD ($) Claim	Dec. 31, 2020 USD ($)
Loss Contingencies [Line Items]
Non-cancelable long-term purchase commitments			$ 6,800,000
Letters of credit outstanding, amount		$ 2,000,000.0	$ 2,000,000.0
Line of credit facility, current borrowing capacity		$ 0
Loss contingency, claims settled, number \| Claim		0
Subsequent Event
Loss Contingencies [Line Items]
Operating lease term	10 years 6 months
Expected accounting lease commencement month and year	2021-05
Undiscounted lease payment	$ 45,600,000
Operating lease expiration month and year	2022-03

Stockholders' Equity - Additional Information (Details)	Sep. 15, 2020 $ / shares shares	Mar. 31, 2021 $ / shares shares	Dec. 31, 2020 $ / shares shares	Sep. 25, 2020 $ / shares shares
Equity [Abstract]
Authorized shares of common stock for issuance	100,000,000	300,000,000	300,000,000	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	92,087,000	91,935,000
Authorized shares of preferred stock for issuance		5,000,000	5,000,000	5,000,000
Authorized shares of preferred stock for issuance, par value \| $ / shares		$ 0.0001	$ 0.0001	$ 0.0001
Preferred stock shares outstanding		0	0

Equity Incentive Plans and Stock-Based Compensation - Summary of Stock-based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 3,076	$ 1,105
Income tax benefit	(919)
Total stock-based compensation expense, net of income tax benefit	2,157	1,105
Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	181	63
Sales, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	2,572	880
Product Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense	$ 323	$ 162

Equity Incentive Plans and Stock-Based Compensation - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Intrinsic value of options exercised	$ 4,400,000	$ 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	$ 30,300,000
Expected to be recognized weighted average period	3 years
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unrecognized stock-based compensation cost related to unvested stock	$ 500,000
Expected to be recognized weighted average period	6 months

Net Income Per Share - Computation of Basic and Diluted Net Income Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator
Net income, basic and diluted	$ 46,723	$ 1,217
Denominator
Weighted-average shares used to compute net income per share, basic	91,951	84,079
Effect of dilutive securities	8,260	1,991
Weighted-average shares used to compute net income per share, diluted	100,211	86,070
Net income per share:
Basic	$ 0.51	$ 0.01
Diluted	$ 0.47	$ 0.01
Anti-dilutive potential common shares	369	2,807

Income Taxes - Schedule of Income (Loss) Before Income Taxes, Income Tax (Expense) Benefit and Effective Income Tax Rates (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Disclosure [Abstract]
Income before income taxes	$ 59,918	$ 3,900
Income tax expense	$ (13,195)	$ (2,683)
Effective tax rate	22.00%	68.80%

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (c)
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- Definition

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

+ References + Details

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Effective income tax rate	22.00%	68.80%
One-time benefit from change in tax law resulting from enactment of CARES act		$ 0.6
Unrealized tax benefits	$ 1.3		$ 1.2

Segment and Geographic Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021 Segment Customer Country	Mar. 31, 2020 Country
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	2
Geographic Concentration Risk \| Consolidated Net Revenue \| United States
Segment Reporting Information [Line Items]
Percentage of revenue from sales to customers	36.20%	32.90%
Geographic Concentration Risk \| Consolidated Net Revenue \| 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
Number of customer for more than minimum threshold percentage of revenue \| Customer	1
Geographic Concentration Risk \| 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 Financial Information for Each Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net revenue	$ 529,414	$ 308,518
Total gross profit	160,328	78,622
Gaming and Creator Peripherals
Segment Reporting Information [Line Items]
Net revenue	175,912	75,861
Total gross profit	68,866	22,133
Gaming Components and Systems
Segment Reporting Information [Line Items]
Net revenue	353,502	232,657
Total gross profit	$ 91,462	$ 56,489

- Definition

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

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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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Segment and Geographic Information - Summary of Net Revenue By Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net revenue	$ 529,414	$ 308,518
Americas
Segment Reporting Information [Line Items]
Net revenue	226,388	123,710
Europe and Middle East
Segment Reporting Information [Line Items]
Net revenue	225,494	110,550
Asia Pacific
Segment Reporting Information [Line Items]
Net revenue	$ 77,532	$ 74,258

- Definition

+ References

+ Details

Segment and Geographic Information - Summary of Property And Equipment, Net by Country (Details) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Property and equipment, net	$ 15,320	$ 16,475
United States
Segment Reporting Information [Line Items]
Property and equipment, net	4,733	5,764
China
Segment Reporting Information [Line Items]
Property and equipment, net	6,333	6,334
Taiwan
Segment Reporting Information [Line Items]
Property and equipment, net	3,126	2,992
Other Countries
Segment Reporting Information [Line Items]
Property and equipment, net	$ 1,128	$ 1,385