0001564590-22-018610 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2022	Apr. 28, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
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	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Common Stock, Shares Outstanding		95,399,909
Entity Shell Company	false
Entity Filer Category	Large 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 Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Net revenue	$ 380,691	$ 529,414
Cost of revenue	289,935	369,086
Gross profit	90,756	160,328
Operating expenses:
Sales, general and administrative	76,131	77,853
Product development	17,110	15,186
Total operating expenses	93,241	93,039
Operating income (loss)	(2,485)	67,289
Other (expense) income:
Interest expense	(1,279)	(4,946)
Other expense, net	(499)	(2,425)
Total other expense, net	(1,778)	(7,371)
Income (loss) before income taxes	(4,263)	59,918
Income tax benefit (expense)	983	(13,195)
Net income (loss)	(3,280)	46,723
Less: Net loss attributable to noncontrolling interests	(407)
Net income (loss) attributable to Corsair Gaming, Inc.	(2,873)	46,723
Calculation of net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.:
Net income (loss) attributable to Corsair Gaming, Inc.	(2,873)	46,723
Change in redemption value of redeemable noncontrolling interests	(2,261)
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc.	$ (5,134)	$ 46,723
Net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.:
Basic	$ 0.05	$ 0.51
Diluted	$ 0.05	$ 0.47
Weighted-average common shares outstanding:
Basic	95,275	91,951
Diluted	95,275	100,211

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (3,280)	$ 46,723
Other comprehensive gain (loss):
Foreign currency translation adjustments, net of tax benefit of $151 and $0 for the three months ended March 31, 2022 and 2021, respectively	(2,258)	165
Unrealized foreign exchange loss from long-term intercompany loans, net of tax benefit of $19 and $44 for the three months ended March 31, 2022 and 2021, respectively	(95)	(224)
Comprehensive income (loss)	(5,633)	46,664
Less: Comprehensive loss attributable to noncontrolling interests	(606)
Comprehensive income (loss) attributable to Corsair Gaming, Inc.	$ (5,027)	$ 46,664

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

+ References + Details

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

+ References

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+ Details

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 151	$ 0
Unrealized foreign exchange loss from long-term intercompany loans, tax benefit	$ 19	$ 44

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash	$ 29,049	$ 62,415
Restricted cash	2,705	2,734
Accounts receivable, net	236,472	291,287
Inventories	300,423	298,315
Prepaid expenses and other current assets	57,877	51,024
Total current assets	626,526	705,775
Restricted cash, noncurrent	231	231
Property and equipment, net	19,607	16,819
Goodwill	348,424	317,054
Intangible assets, net	249,841	225,709
Other assets	74,796	71,808
Total assets	1,319,425	1,337,396
Current liabilities:
Debt maturing within one year	4,754	4,753
Accounts payable	203,454	236,120
Other liabilities and accrued expenses	176,556	205,874
Total current liabilities	384,764	446,747
Long-term debt	241,709	242,898
Deferred tax liabilities	29,241	25,700
Other liabilities, noncurrent	52,176	53,871
Total liabilities	707,890	769,216
Commitments and Contingencies (Note 9)
Temporary equity
Redeemable noncontrolling interests	19,424
Corsair Gaming, Inc. stockholders’ equity:
Preferred stock, $0.0001 par value: 5,000 shares authorized, nil and nil shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively
Common stock, $0.0001 par value: 300,000 shares authorized, 95,373 and 94,510 shares issued and outstanding as of March 31, 2022 and December 31, 2021, respectively	10	9
Additional paid-in capital	489,745	470,364
Retained earnings	93,013	98,147
Accumulated other comprehensive loss	(2,494)	(340)
Total Corsair Gaming, Inc. stockholders’ equity	580,274	568,180
Nonredeemable noncontrolling interests	11,837
Total permanent equity	592,111	568,180
Total liabilities, temporary equity and permanent equity	$ 1,319,425	$ 1,337,396

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
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	95,373,000	94,510,000
Common stock, shares outstanding	95,373,000	94,510,000

Condensed Consolidated Statements of Stockholders' Equity - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Corsair Gaming, Inc. Stockholders' Equity	Nonredeemable Noncontrolling Interest
Balance at Dec. 31, 2020	$ 437,390	$ 9	$ 438,667	$ (2,813)	$ 1,527	$ 437,390
Balance, shares at Dec. 31, 2020		91,935
Net income (loss)	46,723			46,723		46,723
Other comprehensive loss	(59)				(59)	(59)
Issuance of common stock in connection with employee equity incentive plans	577		577			577
Issuance of common stock in connection with employee equity incentive plans, shares		152
Stock-based compensation	3,076		3,076			3,076
Balance at Mar. 31, 2021	487,707	$ 9	442,320	43,910	1,468	487,707
Balance, shares at Mar. 31, 2021		92,087
Balance at Dec. 31, 2021	568,180	$ 9	470,364	98,147	(340)	568,180
Balance, shares at Dec. 31, 2021		94,510
Issuance of common stock in relation to business acquisition	14,505	$ 1	14,504			14,505
Issuance of common stock in relation to business acquisition, shares		690
Noncontrolling interests from business combination	12,084						$ 12,084
Net income (loss)	(3,039)			(2,873)		(2,873)	(166)
Other comprehensive loss	(2,235)				(2,154)	(2,154)	(81)
Change in redemption value of redeemable NCI	(2,261)			(2,261)		(2,261)
Issuance of common stock in connection with employee equity incentive plans	527		527			527
Issuance of common stock in connection with employee equity incentive plans, shares		214
Shares withheld related to net share settlement	(867)		(867)			(867)
Shares withheld related to net share settlement, shares		(41)
Stock-based compensation	5,217		5,217			5,217
Balance at Mar. 31, 2022	$ 592,111	$ 10	$ 489,745	$ 93,013	$ (2,494)	$ 580,274	$ 11,837
Balance, shares at Mar. 31, 2022		95,373

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities:
Net income (loss)	$ (3,280)	$ 46,723
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Stock-based compensation	5,147	3,076
Depreciation	2,604	2,436
Amortization of intangible assets	10,138	8,702
Debt issuance costs amortization	86	537
Loss on debt extinguishment		439
Deferred income taxes	(4,078)	(3,005)
Other	567	1,316
Changes in operating assets and liabilities:
Accounts receivable	54,434	(13,416)
Inventories	(662)	(13,508)
Prepaid expenses and other assets	(8,147)	(4,419)
Accounts payable	(35,308)	(26,988)
Other liabilities and accrued expenses	(27,607)	25,875
Net cash provided by (used in) operating activities	(6,106)	27,768
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(19,534)	(1,684)
Payment of deferred contingent consideration		(4,353)
Purchase of property and equipment	(4,365)	(2,036)
Net cash used in investing activities	(23,899)	(8,073)
Cash flows from financing activities:
Repayment of debt	(1,250)	(28,000)
Borrowing from line of credit	293,000
Repayment of line of credit	(293,000)
Payment of contingent consideration	(292)
Proceeds from issuance of shares through employee equity incentive plans	523	185
Payment of taxes related to net share settlement of equity awards	(887)
Net cash used in financing activities	(1,906)	(27,815)
Effect of exchange rate changes on cash	(1,484)	134
Net decrease in cash and restricted cash	(33,395)	(7,986)
Cash and restricted cash at the beginning of the period	65,380	133,568
Cash and restricted cash at the end of the period	31,985	125,582
Supplemental cash flow disclosures:
Cash paid for interest	1,207	3,961
Cash paid for income taxes	4,354	413
Supplemental schedule of non-cash investing and financing activities:
Equipment purchased and unpaid at period end	3,322	1,558
Right-of-use assets obtained in exchange for operating lease liabilities	$ 633	3,817
Deferred and contingent purchase consideration related to business acquisitions		$ 735

Description of Business and Basis of Presentation

3 Months Ended

Mar. 31, 2022

Organization Consolidation And Presentation Of Financial Statements [Abstract]

Description of Business and Basis of Presentation

1. Description of Business

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, many of which build their own PCs using our components.

Corsair is organized into two reportable segments:

•

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

•

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

Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2022

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

2. Summary of Significant Accounting Policies

Basis of Presentation

Our interim condensed 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 Consolidated Financial Statements included in our Annual Report on Form 10K for the year ended December 31, 2021 which was filed with the SEC on March 1, 2022.

The condensed consolidated balance sheet as of December 31, 2021, 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 consolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto for the year ended December 31, 2021, included in our Annual Report on Form 10-K.

The interim condensed consolidated financial statements have been prepared on the same basis as the audited 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 consolidated balance sheet as of March 31, 2022 and our results of operations for the three months ended March 31, 2022 and 2021. The results for the three months ended March 31, 2022 are not necessarily indicative of the results expected for the current fiscal year or any other future periods.

Principles of Consolidation

The accompanying condensed consolidated financial statements include the accounts of Corsair and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. For consolidated entities where we own less than 100% of the equity, our consolidated net comprehensive income (loss) is reduced by the portion attributable to the noncontrolling interests.

In determining whether an entity is considered a controlled entity, we apply the VIE (Variable Interest Entity) and VOE (voting interest entity) models. Entities that do not qualify as a VIE are assessed for consolidation under the VOE model. Under the VOE model, we consolidate the entity if we determine that we have a controlling financial interest in the entity through our ownership of greater than 50% of the outstanding voting shares of the entity and that other equity holders do not have substantive voting, participating or liquidation rights.

On January 1, 2022 (the “Closing” or “Closing Date”), we completed the acquisition of a 51% ownership stake in Elgato iDisplay Holdings LTD. and its related companies (together “iDisplay”). (See Note 5, Business Combination - iDisplay Acquisition for more details on the iDisplay Acquisition). We have determined that iDisplay does not qualify as a VIE and Corsair has a controlling financial

interest in iDisplay under the VOE model and therefore, iDisplay’s results of operations are fully consolidated with Corsair with effect from January 1, 2022. As a result, we recorded a net loss of $0.4 million attributable to noncontrolling interests in our condensed consolidated statement of operations for the three months ended March 31, 2022, equal to the 49% of the ownership interest retained in iDisplay by the noncontrolling interests.

Noncontrolling Interests

We have included both redeemable noncontrolling interests and noncontrolling interests in our condensed consolidated balance sheet in connection with our consolidation of the 51% ownership of iDisplay.

Redeemable noncontrolling interests that are redeemable and not solely within our control are classified within temporary equity in the condensed consolidated balance sheets. Redeemable noncontrolling interests are measured at the greater of the redemption value (calculated based on the formula stipulated in the Shareholders Agreement between the iDisplay seller and Corsair and, including the amounts for dividends not currently declared or paid, for which the payment is not solely within our control), or the carrying value before giving effect to the redemption feature. The redeemable noncontrolling interests are recorded at their maximum redemption value at each reporting date. The redemption value is remeasured each quarter and changes in the value are recognized immediately. Any resulting change in the value of the redeemable noncontrolling interests is recognized through retained earnings and this adjustment also impacts the net income or loss attributable to common stockholders of Corsair Gaming, Inc used in the net income (loss) per share calculation. (See Note 16 for more information regarding the redeemable noncontrolling interests).

In addition, we have noncontrolling interests recorded at carrying value which do not have redemption features and are classified within permanent equity in our condensed consolidated balance sheet.

Use of Estimates

The preparation of condensed 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 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, and deferred income tax. 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 an increase in demand for our gear as more people were under shelter-in-place restrictions, which we believe have limited people’s access to alternative forms of entertainment and social interaction, and thus have increased the demand for home entertainment and connecting with others through content creation. In contrast, as the COVID-19 pandemic subsides, it has resulted in shelter-in-place and other similar restrictions being eased. Such easing of restrictions has resulted in consumers returning to other alternative forms of entertainment and interaction. This in turn has resulted in a decline in demand for our products since the second half of 2021. The extent to which the COVID-19 outbreak ultimately impacts our business, sales, results of operations, cash flows and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to, the severity, duration and spread of the outbreak, how quickly and to what extent normal economic and operating conditions can resume, and the actions to contain the virus and prevent any reoccurrence. For example, China's zero-COVID policy has negative implications for global supply chains generally; factory shutdowns and transport backlogs may result in inventory shortfalls for our products, which could negatively impact our sales. 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 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 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 consolidated financial statements.

Recently Adopted Accounting Pronouncements

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. We adopted this standard effective January 1, 2022. The adoption of this new standard did not have a material impact on our condensed consolidated financial statements.

In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805), which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. Generally, this new guidance will result in the acquirer recognizing contract assets and contract liabilities at the same amounts recorded by the acquiree. Historically, such amounts were recognized by the acquirer at fair value in acquisition accounting. We adopted this standard effective January 1, 2022. The adoption of this new standard did not have a material impact on our condensed consolidated financial statements.

Accounting Pronouncements Issued but Not Yet Adopted

None.

Fair Value Measurement

3 Months Ended

Mar. 31, 2022

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 carrying values of certain of our financial instruments, including accounts receivable and accounts payable, approximate their fair values due to their short maturities. The balances of our financial assets that were measured at fair value on a recurring basis as of March 31, 2022 and December 31, 2021 were not material. The following tables summarize our financial 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 (in thousands):

	March 31, 2022
	(Level 1)		(Level 2)		(Level 3)		Total

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽¹⁾	$	—	$	—	$	958	$	958
Foreign currency forward contracts⁽²⁾		—		163		—		163
Other		—		—		224		224
Total liabilities	$	—	$	163	$	1,182	$	1,345

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

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽¹⁾	$	—	$	—	$	1,250	$	1,250
Foreign currency forward contracts⁽²⁾		—		427		—		427
Other		—		—		224		224
Total liabilities	$	—	$	427	$	1,474	$	1,901

(1)

On December 19, 2019, one of our subsidiaries entered into an Agreement and Plan of Merger with Scuf Holdings, Inc. and subsidiaries (collectively “SCUF”) and acquired 100% of their equity interests (the “SCUF Acquisition”). 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, and these estimates represent a level 3 fair value measurement. The $1.3 million liability as of December 31, 2021 consisted of $0.3 million based on a contractual amount and the remaining $1.0 million is subject to update upon filing our tax return for tax year 2021. In March 2022, we paid the $0.3 million contractual amount, and the remaining $1.0 million liability as of March 31, 2022 is subject to update upon filing our tax return for tax year 2021.

(2)	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.

- 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, 2022

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 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 consolidated statements of operations. We do not enter into derivative instruments for trading purposes.

The foreign currency forward contracts generally mature within two to three months. The notional principal amount of outstanding foreign exchange forward contracts was $48.0 million and $48.6 million as of March 31, 2022 and December 31, 2021, respectively, none of which have been designated as hedging instruments during the periods presented. Total fair value gains (losses) recognized in other (expense) income, net in relation to these derivative instruments was $0.5 million and $0.7 million for the three months ended March 31, 2022 and 2021, respectively.

Business Combinations

3 Months Ended

Mar. 31, 2022

Business Combinations [Abstract]

Business Combinations

5. Business Combinations

iDisplay Acquisition

On January 1, 2022, we completed the acquisition of a 51% ownership stake in iDisplay, a leader in electronic development and design specializing in display technology, headquartered in Taiwan.

The fair value consideration for iDisplay was $36.4 million, including $21.9 million in cash and the issuance of 690,333 shares of our common stock with a fair value of $14.5 million at Closing Date. The consideration was reduced for the effective 51% settlement of a pre-existing contractual accounts payable balance owed to iDisplay of $3.5 million. The iDisplay Acquisition will allow us to direct the development and integration of iDisplay’s display-based touch-screen technologies into our products for creators, gamers and streamers. iDisplay’s results of operations are fully consolidated with Corsair with effect from January 1, 2022.

The seller of iDisplay (the “iDisplay Seller”) has retained 49% noncontrolling interests in iDisplay. Under the Shareholders Agreement between Corsair and the iDisplay Seller, a put option was provided to the iDisplay Seller and a call option was provided to Corsair for the option to transfer (i) 14% ownership interest in iDisplay to Corsair upon the first anniversary of the Closing and (ii) an additional 15% of ownership interest in iDisplay to Corsair upon the second anniversary of the Closing. Both put and call options expire on January 1, 2025. The exercise price of the put option and the call option is based on multiples of iDisplay’s trailing twelve-month earnings before interest, income tax, depreciation and amortization (“TTM EBITDA”) less any debt. The 29% noncontrolling interests entitled to the put option is considered a redeemable noncontrolling interests. See Note 2, Summary of Significant Accounting Policies – Noncontrolling Interests and Note 16, Redeemable Noncontrolling Interests for more information regarding the redeemable noncontrolling interests.

The fair value of the 49% noncontrolling interests was estimated to be $29.6 million. The control premium assigned to Corsair’s 51% controlling financial interest was 15%, which resulted in an implied minority discount of 13%. The control premium was based on an analysis considering similar market transactions involving control premiums, as well as factors specific to iDisplay, including its significant customer concentration.

Preliminary purchase price allocation

As of March 31, 2022, the purchase price allocation is still preliminary and based upon estimates and assumptions that are subject to change within the measurement period as additional information for the estimates is obtained, and its finalization may result in changes to preliminary estimate of identified intangible assets and goodwill.

The following table presents the estimated fair value of the assets acquired and liabilities as of the Closing Date (in thousands):

	Preliminary Allocation

Cash	$	2,330
Accounts receivable		3,382
Inventories		2,765
Prepaid and other assets		424
Operating lease right-of-use asset		360
Property and equipment		277
Identifiable intangible assets		35,300
Goodwill		31,970
Total assets acquired		76,808
Accounts payable		(5,106	)
Deferred tax liabilities		(4,637	)
Accrued liabilities		(731	)
Operating lease liabilities		(360	)
Total liabilities assumed		(10,834	)
Net assets acquired		65,974
Noncontrolling interests		(29,606	)
Fair value of consideration transferred	$	36,368

Purchase consideration:
Cash	$	21,864
Corsair common stock		14,504
Fair value of consideration transferred	$	36,368

The fair value of certain working capital related items, including accounts receivable, prepaid and other assets, accounts payable and accrued liabilities, as well as the fair value of property and equipment approximated their book values at the date of the iDisplay Acquisition. The fair value of the inventories was estimated by major category, at net realizable value, which we believe approximates the price a market participant could achieve in a current sale. The difference between the fair value of the inventories and the book value recorded by iDisplay on the acquisition date was $0.3 million, which was recognized in cost of revenue in the consolidated statements of operations upon the sale of the acquired inventory.

The excess of the purchase consideration over the fair value of the identifiable intangible assets and the net tangible assets and liabilities acquired has currently been estimated to be $32.0 million, of which $28.5 million and $3.5 million are assigned to our gamer and creator peripherals reporting unit and gaming component and systems reporting unit, respectively. We believe goodwill represents the strengthening of our supply chain with display-based touch-screen technologies into our products for creators, gamers and streamers, and the ability to design and generate new technologies to enhance the features of our products.

The identifiable intangible assets are deductible for tax purposes and a $4.6 million deferred tax liability has been estimated at the date of acquisition for the difference between the book and tax bases of these assets. The goodwill is not deductible for tax purposes.

Valuation of identified intangible assets

The following table summarizes the valuation of the identifiable intangible assets acquired in the iDisplay Acquisition and the estimate of their respective useful lives as of Closing Date:

	Preliminary Valuation		Useful Life
	(In thousands)		(In years)

Patent portfolio	$	5,200		6
Supplier relationships		6,700		6
Developed technology		23,400		6
Total identifiable intangible assets	$	35,300

The fair value of patent portfolio was estimated using the relief from royalty approach and the economic useful life was determined based on the average product life cycle of the products manufactured by iDisplay. The supplier relationships intangible asset represents the value assigned to the relationship iDisplay had established over the years with a broad network of suppliers and OEMs that have been crucial to the quality and magnitude of iDisplay manufacturing capability. The fair value of supplier relationships was estimated using the multi-period excess earnings approach and the economic useful life was determined to be aligned with the estimated useful life of the developed technology acquired from iDisplay. The developed technology intangible asset represents unpatented propriety technologies, such as hardware designs and architectures and process technologies used in the on-going research and design of the products manufactured by iDisplay. The fair value of developed technology was estimated using the income approach and the economic useful life was based on the technology cycle of the products manufactured, as well as the cash flows anticipated over the forecasted periods. The valuations of the intangible assets were calculated with the assistance of a third-party valuation firm. The fair values of these intangibles were valued based on long-term cash flow projections, which we consider to be Level 3 inputs.

These intangibles are being amortized over their estimated useful lives using the straight-line method of amortization, which reflects the pattern in which the economic benefits of the intangible asset are consumed. Amortization of patent portfolio and supplier relationships is included in cost of revenue and amortization of developed technology is included in product development expense in our condensed consolidated statements of operations.

Acquisition-related costs

We incurred acquisition-related costs of approximately $0.5 million for the three months ended March 31, 2022, and $0.6 million for the year ended December 31, 2021. These costs are recorded in sales, general and administrative expenses in the consolidated statement of operations.

Unaudited Pro-forma Financial Information

Pro forma financial information is not included because the effects of the acquisition are not material to our consolidated statements of operations for 2021.

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

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 (in thousands):

	Gaming Components and Systems			Gamer and Creator Peripherals			Total

Balance as of December 31, 2021	$	145,310		$	171,744		$	317,054
Addition from iDisplay Acquisition		3,485			28,485			31,970
Effect of foreign currency exchange rates		(22	)		(578	)		(600	)
Balance as of March 31, 2022	$	148,773		$	199,651		$	348,424

Intangible assets, net

The following table is a summary of intangible assets, net (in thousands):

	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology	$	55,486	$	17,414	$	38,072	$	32,086	$	14,922	$	17,164
Trade name		30,454		5,429		25,025		30,665		4,942		25,723
Customer relationships		218,560		100,413		118,147		218,566		94,910		123,656
Patent portfolio		35,799		9,163		26,636		31,481		8,196		23,285
Non-competition agreements		2,521		2,319		202		2,521		2,193		328
Supplier relationships		6,476		270		6,206		—		—		—
Total finite-life intangibles		349,296		135,008		214,288		315,319		125,163		190,156
Indefinite life trade name		35,430		—		35,430		35,430		—		35,430
Other		123		—		123		123		—		123
Total intangible assets	$	384,849	$	135,008	$	249,841	$	350,872	$	125,163	$	225,709

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, 2022 is as follows (in thousands):

	Amounts

Remainder of 2022	$	30,032
2023		38,530
2024		37,080
2025		36,777
2026		33,405
Thereafter		38,464
Total	$	214,288

Balance Sheet Components

3 Months Ended

Mar. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Balance Sheet Components

7. Balance Sheet Components

The following tables present the components of certain balance sheet amounts (in thousands):

Cash and Restricted Cash

	March 31, 2022		December 31, 2021

Cash	$	29,049	$	62,415
Restricted cash—short term		2,705		2,734
Restricted cash—noncurrent		231		231
Total cash and restricted cash	$	31,985	$	65,380

Accounts Receivable, Net

	March 31, 2022			December 31, 2021

Accounts receivable	$	237,001		$	291,816
Allowance for doubtful accounts		(529	)		(529	)
Accounts receivable, net	$	236,472		$	291,287

As of March 31, 2022, and December 31, 2021, two customers each represented 10% or more of our consolidated accounts receivable, net.

Inventories

	March 31, 2022		December 31, 2021

Raw materials	$	78,467	$	62,110
Work in progress		8,095		4,931
Finished goods		213,861		231,274
Inventories	$	300,423	$	298,315

Property and Equipment, Net

	March 31, 2022			December 31, 2021

Manufacturing equipment	$	27,938		$	26,094
Computer equipment, software and office equipment		9,642			9,407
Furniture and fixtures		4,949			5,154
Leasehold improvements		7,802			4,709
Total property and equipment	$	50,331		$	45,364
Less: Accumulated depreciation and amortization		(30,724	)		(28,545	)
Property and equipment, net	$	19,607		$	16,819

Other Assets

	March 31, 2022		December 31, 2021

Right-of-use assets	$	48,620	$	51,387
Deferred tax asset		16,055		12,737
Other		10,121		7,684
Other assets	$	74,796	$	71,808

Other Liabilities and Accrued Expenses

	March 31, 2022		December 31, 2021

Accrued reserves for customer incentive programs	$	60,042	$	66,733
Accrued reserves for sales return		33,285		37,166
Accrued payroll and related expense		10,480		20,526
Accrued freight expenses		13,652		18,296
Operating lease liabilities, current		8,756		9,457
Income tax payable		8,233		6,316
Contract liabilities		4,716		6,663
Other		37,392		40,717
Other liabilities and accrued expenses	$	176,556	$	205,874

Other Liabilities, Noncurrent

	March 31, 2022		December 31, 2021

Operating lease liabilities, noncurrent	$	49,206	$	51,153
Other		2,970		2,718
Other liabilities, noncurrent	$	52,176	$	53,871

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. In connection with such nonmonetary transactions with our manufacturers, as of March 31, 2022, we recognized $6.2 million prepaid inventory and $6.7 million accrued liabilities and as of December 31, 2021, we recognized $5.0 million prepaid inventory and $5.4 million accrued liabilities in the condensed consolidated balance sheet.

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

Debt

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Debt

8. Debt

Our debt consisted of the following (in thousands):

	March 31, 2022			December 31, 2021

Term Loan (variable rate) due September 2026	$	247,500		$	248,750
Debt discount and issuance cost, net of amortization		(1,037	)		(1,099	)
Total debt		246,463			247,651
Less: debt maturing within one year		4,754			4,753
Long-term debt	$	241,709		$	242,898

First Lien Credit and Guaranty Agreement (Extinguished in September 2021)

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 was to mature on August 28, 2024 and August 28, 2022, respectively. Subsequently, we entered into several amendments to the First Lien and the principal amount of the First Lien Term Loan was increased by $10 million in 2017 and increased by $115 million in each of 2018 and 2019, primarily to fund various business acquisitions and 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.

We may prepay the First Lien Term Loan and the Revolver at any time without premium or penalty other than customary LIBOR breakage. In the three months ended March 31, 2021, with the excess cash on hand, we made voluntary prepayment of $28 million, and accordingly we recorded losses on extinguishment of debt of $0.4 million. The First Lien Term Loan was subsequently fully prepaid with the proceeds from the Term Loan (defined below) on September 3, 2021, and as a result, all obligations and covenants thereunder were terminated.

The effective interest rate inclusive of the debt discount and debt issuance costs for the First Lien, was approximately 6.45% for the three months ended March 31, 2021.

Credit Agreement

On September 3, 2021, we entered into a new Credit Agreement (“Credit Agreement”) which provides for a $100.0 million five-year revolving credit facility (“Revolving Facility”) and a $250.0 million five-year term loan facility (“Term Loan”), with each

maturing in September 2026. The Credit Agreement also permits, subject to conditions stated therein, additional incremental facilities in a maximum aggregate principal amount not to exceed $250.0 million. We may prepay the Term Loan and the Revolving Facility at any time without premium or penalty.

The credit facilities under the Credit Agreement replaced our senior credit facilities under the First Lien Credit and Guaranty Agreement. The net proceeds from borrowings under the Credit Agreement of $248.5 million (net of $1.5 million of debt discount) were used to repay all amounts outstanding under the First Lien Term Loan on September 3, 2021.

The Term Loan and Revolving Facility under the Credit Agreement will each bear interest at the Company’s election, either (a) LIBOR plus a percentage spread (ranging from 1.25% to 2.0%) based on our total net leverage ratio, or (b) the base rate (described in the Credit Agreement as the greatest of (i) the prime rate, (ii) the federal funds rate plus 0.50% and (iii) one-month LIBOR plus 1.0%) plus a percentage spread (ranging from 0.25% to 1.0%) based on our net leverage ratio.

Our obligations under the Credit Agreement are guaranteed by substantially all of our U.S. subsidiaries and secured by a security interest in substantially all assets of the Company and the guarantor subsidiaries, subject to certain exceptions detailed in the Credit Agreement and related ancillary documentation.

The Credit Agreement contains covenants with which we must comply during the term of the agreement, which we believe are ordinary and standard for agreements of this nature, including the maintenance of a maximum Consolidated Total Net Leverage Ratio of 3.0 to 1.0 and a minimum Consolidated Interest Coverage Ratio of 3.0 to 1.0 (as defined in our credit facilities). The Credit Agreement also includes events of default customary for facilities of this nature and upon the occurrence of such events of default, among other things, all outstanding amounts under the Credit Agreement may be accelerated and/or the lenders’ commitments terminated. In addition, upon the occurrence of certain events of default, the interest on the Term loan and Revolving Facility can be increased by 2.0%. As of March 31, 2022, we were not in default under the Credit Agreement.

As of March 31, 2022 and December 31, 2021, we had no outstanding balance under the Revolving Facility.

The carrying value of our Term Loan was $246.5 million and $247.7 million as of March 31, 2022 and December 31, 2021, respectively. The estimated fair value of the Term Loan as of March 31, 2022, which we have classified as a Level 2 financial instrument, was approximately $255.5 million.

The effective interest rate inclusive of the debt discount and debt issuance costs was approximately 1.49% for the three months ended March 31, 2022.

The following table summarizes the interest expense recognized for all periods presented (in thousands):

	Three Months Ended March 31,
	2022		2021

First Lien Guaranty Agreement:
Contractual interest expense for term loan	$	—	$	3,882
Amortization of debt discount and issuance cost		—		537
Loss on debt extinguishment		—		439
Credit Agreement:
Contractual interest expense for term loan		865		—
Contractual interest expense for revolving facility		274		—
Amortization of debt discount and issuance cost		86		—
Other		54		88
Total interest expense recognized	$	1,279	$	4,946

The estimated future principal payments under our total long-term debt as of March 31, 2022 are as follows (in thousands):

	Amounts

Remainder of 2022	$	3,750
2023		6,875
2024		12,500
2025		12,500
2026		211,875
Thereafter		—
Total debt	$	247,500

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

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+ Details

Commitments and Contingencies

3 Months Ended

Mar. 31, 2022

Commitments And Contingencies Disclosure [Abstract]

Commitments and Contingencies

9. Commitments and Contingencies

Product Warranties

Changes in our warranty obligations were as follows (in thousands):

	Three Months Ended March 31,
	2022			2021

Beginning of the period	$	5,655		$	5,865
Warranty provision related to products shipped		1,298			1,873
Deductions for warranty claims processed		(1,561	)		(1,737	)
End of period	$	5,392		$	6,001

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, 2022 were as follows (in thousands):

	Amounts

Remainder of 2022	$	1,668
2023		2,659
2024		1,793
2025		316
2026		—
Thereafter		—
Total	$	6,436

Our total long term non-cancelable purchase commitments outstanding as of December 31, 2021 were $7.1 million.

Letters of Credit

The total letters of credit outstanding, in aggregate, was $0.5 million as of March 31, 2022 and December 31, 2021. No amounts have been drawn upon the letters of credit for all periods presented.

Legal Proceedings

We may from time to time be involved in various claims and legal proceedings of a character normally incident to the ordinary course of business. Litigation can be expensive and disruptive to normal business operations, and the results of complex legal proceedings are difficult to predict, and our view of these matters may change in the future as the litigation and events related thereto unfold. We expense legal fees as incurred and we record a provision for contingent losses when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Based on currently available information, we believe there are no existing claims or proceedings that are likely to have a material adverse effect on our financial position, or the outcome of these

matters is currently not determinable. An unfavorable outcome to any legal matter, if material, could have an adverse effect on our operations or financial position, liquidity of results of operations.

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 consolidated balance sheets, statements of operations, or statements of cash flows. We currently have directors’ and officers’ insurance.

Stockholders Equity

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

Stockholders Equity

10. Stockholders’ Equity

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, 2022 and December 31, 2021.

- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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+ Details

Equity Incentive Plans and Stock-Based Compensation

3 Months Ended

Mar. 31, 2022

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Equity Incentive Plans and Stock-Based Compensation

11. Equity Incentive Plans and Stock-Based Compensation

As of March 31, 2022, 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 consolidated statements of operations (in thousands):

	Three Months Ended March 31,
	2022		2021

Cost of revenue	$	285	$	181
Sales, general and administrative		4,152		2,572
Product development		710		323
Stock-based compensation expense, net of amounts capitalized ⁽¹⁾		5,147		3,076
Income tax benefits related to stock-based compensation expense	$	311	$	919

(1)

Total stock-based compensation expense capitalized in inventory and as cloud computing arrangement (“CCA”) implementation costs were not material for each of the periods presented.

The following table summarizes by type of grant, the total unrecognized stock-based compensation expense and the remaining period over which such expense is expected to be recognized (in thousands, except number of years):

	March 31, 2022
	Unrecognized Expense		Remaining weighted average period (In years)

Stock Options	$	30,496	2.6
RSUs		29,714	3.4
ESPP		356	0.3
Total unrecognized stock-based compensation expense	$	60,566

The total intrinsic value of options exercised was $1.5 million and $4.4 million for the three months ended March 31, 2022 and 2021, respectively. The total fair value of RSUs vested was $2.5 million for the three months ended March 31, 2022, there were no RSUs vested for the three months ended March 31, 2021.

Net Income (Loss) Per Share

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

Net Income (Loss) Per Share

12. Net Income (Loss) Per Share

The following table summarizes the calculation of basic and diluted net income (loss) per share (in thousands, except per share amounts):

	Three Months Ended March 31,
	2022			2021

Numerator
Net income (loss)	$	(3,280	)	$	46,723
Less: Net loss attributable to noncontrolling interests		(407	)		—
Net income (loss) attributable to Corsair Gaming, Inc.		(2,873	)		46,723
Change in redemption value of redeemable noncontrolling interests		(2,261	)		—
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc.	$	(5,134	)	$	46,723
Denominator
Basic weighted-average shares outstanding		95,275			91,951
Effect of dilutive securities ⁽¹⁾		—			8,260
Total diluted weighted-average shares outstanding		95,275			100,211

Net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.
Basic	$	(0.05	)	$	0.51
Diluted	$	(0.05	)	$	0.47

Anti-dilutive potential common shares ⁽¹⁾		10,383			369

(1)

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

Income Taxes

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

13. Income Taxes

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

	Three Months Ended March 31,
	2022			2021

Income (loss) before income taxes	$	(4,263	)	$	59,918
Income tax benefit (expense)		983			(13,195	)
Effective tax rate		23.1	%		22.0	%

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 23.1% and 22.0% for the three months ended March 31, 2022 and 2021, respectively. The effective tax rate was higher in the three months ended March 31, 2022, as compared to the same period last year primarily due to a reduction of foreign tax credit upon adopting the new rules under the 2021 Final Regulations released by Treasury and IRS in December 2021 finalizing certain regulations regarding foreign tax credit and an increase of the deduction limitation over $1 million on our named executive officers’ stock-based compensation expense.

Unrecognized tax benefits were $3.8 million as of March 31, 2022 and December 31, 2021, 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.

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+ Details

Segment and Geographic Information

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Segment and Geographic Information

14. Segment and Geographic Information

We have two reportable segments:

•

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

•

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

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 (in thousands):

	Three Months Ended March 31,
	2022		2021

Net revenue
Gamer and Creator Peripherals	$	134,148	$	175,912
Gaming Components and Systems		246,543		353,502
Total net revenue	$	380,691	$	529,414
Gross Profit
Gamer and Creator Peripherals	$	43,057	$	68,866
Gaming Components and Systems		47,699		91,462
Total gross profit	$	90,756	$	160,328

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 (in thousands):

	Three Months Ended March 31,
	2022		2021

Net revenue
Americas	$	192,824	$	226,388
Europe and Middle East		122,198		225,494
Asia Pacific		65,669		77,532
Total net revenue	$	380,691	$	529,414

Revenues from sales to customers in the United States represented 43.6% and 36.2% for the three months ended March 31, 2022 and 2021, 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.

- 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.

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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Redeemable Noncontrolling Interests

3 Months Ended

Mar. 31, 2022

Income Amounts Attributable To Noncontrolling Interest Disclosures [Abstract]

Redeemable Noncontrolling Interests

15. Redeemable Noncontrolling Interests

Under the Shareholders Agreement between Corsair and the iDisplay Seller a put option was provided to the iDisplay Seller to transfer to Corsair (i) 14% of their ownership interest in iDisplay upon the first anniversary of the Closing Date of the iDisplay

Acquisition, and (ii) an additional 15% of their ownership interest in iDisplay upon the second anniversary of the Closing Date. The put option will expire after January 1, 2025. The exercise price of the put option is based on multiples of iDisplay’s historical TTM EBITDA less any debt. The put option makes this portion of the noncontrolling interests redeemable and therefore, the redeemable noncontrolling interests are classified as temporary equity on our condensed consolidated balance sheet.

As of the Closing Date of the iDisplay Acquisition, the fair value of the total 49% noncontrolling interests in iDisplay has been estimated to be $29.6 million, of which $17.5 million is attributable to the 29% redeemable noncontrolling interests and classified within temporary equity and $12.1 million is attributable to the 20% noncontrolling interests classified within permanent equity on our condensed consolidated balance sheets.

As of March 31, 2022, based on the formula for determining the value of the iDisplay Seller’s put option and including amounts for dividends not currently declared, but for which have been accrued based on the Shareholders Agreement, the redemption value of the redeemable noncontrolling interests was estimated to be $2.3 million higher than the value that is determined without the effect of the iDisplay Seller’s put option and dividends. As a result, we recorded a $2.3 million increase in the value of the redeemable noncontrolling interest as of March 31, 2022, with offset to retained earnings, and this also increased the net loss used in the calculation of net loss per share attributable to common stockholders of Corsair Gaming, Inc. for the three months ended March 31, 2022.

The following table presents the changes in redeemable noncontrolling interests for the period presented (in thousands):

	Three Months Ended March 31, 2022

Balance at beginning of period	$	—
Redeemable noncontrolling interests in iDisplay estimated at fair value at Closing Date		17,522
Net loss attributable to redeemable noncontrolling interests		(241	)
Other comprehensive loss attributable to redeemable noncontrolling interests		(118	)
Change in redemption value of redeemable noncontrolling interests		2,261
Balance at end of period	$	19,424

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Our interim condensed 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 Consolidated Financial Statements included in our Annual Report on Form 10K for the year ended December 31, 2021 which was filed with the SEC on March 1, 2022. The condensed consolidated balance sheet as of December 31, 2021, 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 consolidated financial statements should be read in conjunction with our consolidated financial statements and notes thereto for the year ended December 31, 2021, included in our Annual Report on Form 10-K. The interim condensed consolidated financial statements have been prepared on the same basis as the audited 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 consolidated balance sheet as of March 31, 2022 and our results of operations for the three months ended March 31, 2022 and 2021. The results for the three months ended March 31, 2022 are not necessarily indicative of the results expected for the current fiscal year or any other future periods.
Principles of Consolidation	Principles of Consolidation The accompanying condensed consolidated financial statements include the accounts of Corsair and its wholly owned subsidiaries. All intercompany accounts and transactions have been eliminated in consolidation. For consolidated entities where we own less than 100% of the equity, our consolidated net comprehensive income (loss) is reduced by the portion attributable to the noncontrolling interests. In determining whether an entity is considered a controlled entity, we apply the VIE (Variable Interest Entity) and VOE (voting interest entity) models. Entities that do not qualify as a VIE are assessed for consolidation under the VOE model. Under the VOE model, we consolidate the entity if we determine that we have a controlling financial interest in the entity through our ownership of greater than 50% of the outstanding voting shares of the entity and that other equity holders do not have substantive voting, participating or liquidation rights. On January 1, 2022 (the “Closing” or “Closing Date”), we completed the acquisition of a 51% ownership stake in Elgato iDisplay Holdings LTD. and its related companies (together “iDisplay”). (See Note 5, Business Combination - iDisplay Acquisition for more details on the iDisplay Acquisition). We have determined that iDisplay does not qualify as a VIE and Corsair has a controlling financial interest in iDisplay under the VOE model and therefore, iDisplay’s results of operations are fully consolidated with Corsair with effect from January 1, 2022. As a result, we recorded a net loss of $0.4 million attributable to noncontrolling interests in our condensed consolidated statement of operations for the three months ended March 31, 2022, equal to the 49% of the ownership interest retained in iDisplay by the noncontrolling interests.
Noncontrolling Interests	Noncontrolling Interests We have included both redeemable noncontrolling interests and noncontrolling interests in our condensed consolidated balance sheet in connection with our consolidation of the 51% ownership of iDisplay. Redeemable noncontrolling interests that are redeemable and not solely within our control are classified within temporary equity in the condensed consolidated balance sheets. Redeemable noncontrolling interests are measured at the greater of the redemption value (calculated based on the formula stipulated in the Shareholders Agreement between the iDisplay seller and Corsair and, including the amounts for dividends not currently declared or paid, for which the payment is not solely within our control), or the carrying value before giving effect to the redemption feature. The redeemable noncontrolling interests are recorded at their maximum redemption value at each reporting date. The redemption value is remeasured each quarter and changes in the value are recognized immediately. Any resulting change in the value of the redeemable noncontrolling interests is recognized through retained earnings and this adjustment also impacts the net income or loss attributable to common stockholders of Corsair Gaming, Inc used in the net income (loss) per share calculation. (See Note 16 for more information regarding the redeemable noncontrolling interests). In addition, we have noncontrolling interests recorded at carrying value which do not have redemption features and are classified within permanent equity in our condensed consolidated balance sheet.
Use of Estimates	Use of Estimates The preparation of condensed 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 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, and deferred income tax. 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 COVID-19 Pandemic	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 an increase in demand for our gear as more people were under shelter-in-place restrictions, which we believe have limited people’s access to alternative forms of entertainment and social interaction, and thus have increased the demand for home entertainment and connecting with others through content creation. In contrast, as the COVID-19 pandemic subsides, it has resulted in shelter-in-place and other similar restrictions being eased. Such easing of restrictions has resulted in consumers returning to other alternative forms of entertainment and interaction. This in turn has resulted in a decline in demand for our products since the second half of 2021. The extent to which the COVID-19 outbreak ultimately impacts our business, sales, results of operations, cash flows and financial condition will depend on future developments, which are highly uncertain and cannot be predicted, including, but not limited to, the severity, duration and spread of the outbreak, how quickly and to what extent normal economic and operating conditions can resume, and the actions to contain the virus and prevent any reoccurrence. For example, China's zero-COVID policy has negative implications for global supply chains generally; factory shutdowns and transport backlogs may result in inventory shortfalls for our products, which could negatively impact our sales. 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 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 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 consolidated financial statements.
Recently Adopted Accounting Pronouncements	Recently Adopted Accounting Pronouncements 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. We adopted this standard effective January 1, 2022. The adoption of this new standard did not have a material impact on our condensed consolidated financial statements. In October 2021, the FASB issued ASU No. 2021-08, Business Combinations (Topic 805), which requires contract assets and contract liabilities (i.e., deferred revenue) acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with ASC 606, Revenue from Contracts with Customers. Generally, this new guidance will result in the acquirer recognizing contract assets and contract liabilities at the same amounts recorded by the acquiree. Historically, such amounts were recognized by the acquirer at fair value in acquisition accounting. We adopted this standard effective January 1, 2022. The adoption of this new standard did not have a material impact on our condensed consolidated financial statements.
Accounting Pronouncements Issued but Not Yet Adopted	Accounting Pronouncements Issued but Not Yet Adopted None.

Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities that Measured at Fair Value

	March 31, 2022
	(Level 1)		(Level 2)		(Level 3)		Total

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽¹⁾	$	—	$	—	$	958	$	958
Foreign currency forward contracts⁽²⁾		—		163		—		163
Other		—		—		224		224
Total liabilities	$	—	$	163	$	1,182	$	1,345

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

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽¹⁾	$	—	$	—	$	1,250	$	1,250
Foreign currency forward contracts⁽²⁾		—		427		—		427
Other		—		—		224		224
Total liabilities	$	—	$	427	$	1,474	$	1,901

(1)

(2)	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.

Business Combinations (Tables)

3 Months Ended

Mar. 31, 2022

Business Combinations [Abstract]

Schedule of Estimated Fair Value of Assets Acquired and Liabilities

The following table presents the estimated fair value of the assets acquired and liabilities as of the Closing Date (in thousands):

	Preliminary Allocation

Cash	$	2,330
Accounts receivable		3,382
Inventories		2,765
Prepaid and other assets		424
Operating lease right-of-use asset		360
Property and equipment		277
Identifiable intangible assets		35,300
Goodwill		31,970
Total assets acquired		76,808
Accounts payable		(5,106	)
Deferred tax liabilities		(4,637	)
Accrued liabilities		(731	)
Operating lease liabilities		(360	)
Total liabilities assumed		(10,834	)
Net assets acquired		65,974
Noncontrolling interests		(29,606	)
Fair value of consideration transferred	$	36,368

Purchase consideration:
Cash	$	21,864
Corsair common stock		14,504
Fair value of consideration transferred	$	36,368

Summary of Valuation of Identifiable Intangible Assets Acquired in Business Combination and Respective Useful Lives

Valuation of identified intangible assets

The following table summarizes the valuation of the identifiable intangible assets acquired in the iDisplay Acquisition and the estimate of their respective useful lives as of Closing Date:

	Preliminary Valuation		Useful Life
	(In thousands)		(In years)

Patent portfolio	$	5,200		6
Supplier relationships		6,700		6
Developed technology		23,400		6
Total identifiable intangible assets	$	35,300

Goodwill and Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

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 (in thousands):

	Gaming Components and Systems			Gamer and Creator Peripherals			Total

Balance as of December 31, 2021	$	145,310		$	171,744		$	317,054
Addition from iDisplay Acquisition		3,485			28,485			31,970
Effect of foreign currency exchange rates		(22	)		(578	)		(600	)
Balance as of March 31, 2022	$	148,773		$	199,651		$	348,424

Summary of Intangible Assets, Net

The following table is a summary of intangible assets, net (in thousands):

	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology	$	55,486	$	17,414	$	38,072	$	32,086	$	14,922	$	17,164
Trade name		30,454		5,429		25,025		30,665		4,942		25,723
Customer relationships		218,560		100,413		118,147		218,566		94,910		123,656
Patent portfolio		35,799		9,163		26,636		31,481		8,196		23,285
Non-competition agreements		2,521		2,319		202		2,521		2,193		328
Supplier relationships		6,476		270		6,206		—		—		—
Total finite-life intangibles		349,296		135,008		214,288		315,319		125,163		190,156
Indefinite life trade name		35,430		—		35,430		35,430		—		35,430
Other		123		—		123		123		—		123
Total intangible assets	$	384,849	$	135,008	$	249,841	$	350,872	$	125,163	$	225,709

Schedule of Estimated Future Amortization Expense of Intangible Assets

The estimated future amortization expense of intangible assets as of March 31, 2022 is as follows (in thousands):

	Amounts

Remainder of 2022	$	30,032
2023		38,530
2024		37,080
2025		36,777
2026		33,405
Thereafter		38,464
Total	$	214,288

Balance Sheet Components (Tables)

3 Months Ended

Mar. 31, 2022

Balance Sheet Related Disclosures [Abstract]

Schedule of Components of Balance Sheet

The following tables present the components of certain balance sheet amounts (in thousands):

Cash and Restricted Cash

	March 31, 2022		December 31, 2021

Cash	$	29,049	$	62,415
Restricted cash—short term		2,705		2,734
Restricted cash—noncurrent		231		231
Total cash and restricted cash	$	31,985	$	65,380

Accounts Receivable, Net

	March 31, 2022			December 31, 2021

Accounts receivable	$	237,001		$	291,816
Allowance for doubtful accounts		(529	)		(529	)
Accounts receivable, net	$	236,472		$	291,287

As of March 31, 2022, and December 31, 2021, two customers each represented 10% or more of our consolidated accounts receivable, net.

Inventories

	March 31, 2022		December 31, 2021

Raw materials	$	78,467	$	62,110
Work in progress		8,095		4,931
Finished goods		213,861		231,274
Inventories	$	300,423	$	298,315

Property and Equipment, Net

	March 31, 2022			December 31, 2021

Manufacturing equipment	$	27,938		$	26,094
Computer equipment, software and office equipment		9,642			9,407
Furniture and fixtures		4,949			5,154
Leasehold improvements		7,802			4,709
Total property and equipment	$	50,331		$	45,364
Less: Accumulated depreciation and amortization		(30,724	)		(28,545	)
Property and equipment, net	$	19,607		$	16,819

Other Assets

	March 31, 2022		December 31, 2021

Right-of-use assets	$	48,620	$	51,387
Deferred tax asset		16,055		12,737
Other		10,121		7,684
Other assets	$	74,796	$	71,808

Other Liabilities and Accrued Expenses

	March 31, 2022		December 31, 2021

Accrued reserves for customer incentive programs	$	60,042	$	66,733
Accrued reserves for sales return		33,285		37,166
Accrued payroll and related expense		10,480		20,526
Accrued freight expenses		13,652		18,296
Operating lease liabilities, current		8,756		9,457
Income tax payable		8,233		6,316
Contract liabilities		4,716		6,663
Other		37,392		40,717
Other liabilities and accrued expenses	$	176,556	$	205,874

Other Liabilities, Noncurrent

	March 31, 2022		December 31, 2021

Operating lease liabilities, noncurrent	$	49,206	$	51,153
Other		2,970		2,718
Other liabilities, noncurrent	$	52,176	$	53,871

Debt (Tables)

3 Months Ended

Mar. 31, 2022

Debt Disclosure [Abstract]

Summary of Debt

Our debt consisted of the following (in thousands):

	March 31, 2022			December 31, 2021

Term Loan (variable rate) due September 2026	$	247,500		$	248,750
Debt discount and issuance cost, net of amortization		(1,037	)		(1,099	)
Total debt		246,463			247,651
Less: debt maturing within one year		4,754			4,753
Long-term debt	$	241,709		$	242,898

Summary of Interest Expense Recognized

The following table summarizes the interest expense recognized for all periods presented (in thousands):

	Three Months Ended March 31,
	2022		2021

First Lien Guaranty Agreement:
Contractual interest expense for term loan	$	—	$	3,882
Amortization of debt discount and issuance cost		—		537
Loss on debt extinguishment		—		439
Credit Agreement:
Contractual interest expense for term loan		865		—
Contractual interest expense for revolving facility		274		—
Amortization of debt discount and issuance cost		86		—
Other		54		88
Total interest expense recognized	$	1,279	$	4,946

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, 2022 are as follows (in thousands):

	Amounts

Remainder of 2022	$	3,750
2023		6,875
2024		12,500
2025		12,500
2026		211,875
Thereafter		—
Total debt	$	247,500

Commitments and Contingencies (Tables)

3 Months Ended

Mar. 31, 2022

Commitments And Contingencies Disclosure [Abstract]

Schedule of Changes in Warranty

Changes in our warranty obligations were as follows (in thousands):

	Three Months Ended March 31,
	2022			2021

Beginning of the period	$	5,655		$	5,865
Warranty provision related to products shipped		1,298			1,873
Deductions for warranty claims processed		(1,561	)		(1,737	)
End of period	$	5,392		$	6,001

Schedule of Long-Term Non-Cancelable Purchase Commitment

Long-term non-cancelable purchase commitment as of March 31, 2022 were as follows (in thousands)

	Amounts

Remainder of 2022	$	1,668
2023		2,659
2024		1,793
2025		316
2026		—
Thereafter		—
Total	$	6,436

Equity Incentive Plans and Stock-Based Compensation (Tables)

3 Months Ended

Mar. 31, 2022

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 consolidated statements of operations (in thousands):

	Three Months Ended March 31,
	2022		2021

Cost of revenue	$	285	$	181
Sales, general and administrative		4,152		2,572
Product development		710		323
Stock-based compensation expense, net of amounts capitalized ⁽¹⁾		5,147		3,076
Income tax benefits related to stock-based compensation expense	$	311	$	919

(1)

Total stock-based compensation expense capitalized in inventory and as cloud computing arrangement (“CCA”) implementation costs were not material for each of the periods presented.

Summary of Total Unrecognized Stock-Based Compensation Expense and Remaining Period

	March 31, 2022
	Unrecognized Expense		Remaining weighted average period (In years)

Stock Options	$	30,496	2.6
RSUs		29,714	3.4
ESPP		356	0.3
Total unrecognized stock-based compensation expense	$	60,566

Net Income (Loss) Per Share (Tables)

3 Months Ended

Mar. 31, 2022

Earnings Per Share [Abstract]

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

The following table summarizes the calculation of basic and diluted net income (loss) per share (in thousands, except per share amounts):

	Three Months Ended March 31,
	2022			2021

Numerator
Net income (loss)	$	(3,280	)	$	46,723
Less: Net loss attributable to noncontrolling interests		(407	)		—
Net income (loss) attributable to Corsair Gaming, Inc.		(2,873	)		46,723
Change in redemption value of redeemable noncontrolling interests		(2,261	)		—
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc.	$	(5,134	)	$	46,723
Denominator
Basic weighted-average shares outstanding		95,275			91,951
Effect of dilutive securities ⁽¹⁾		—			8,260
Total diluted weighted-average shares outstanding		95,275			100,211

Net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.
Basic	$	(0.05	)	$	0.51
Diluted	$	(0.05	)	$	0.47

Anti-dilutive potential common shares ⁽¹⁾		10,383			369

(1)

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

Income Taxes (Tables)

3 Months Ended

Mar. 31, 2022

Income Tax Disclosure [Abstract]

Schedule of Income Before Income Taxes, Income Tax Expense and Effective Income Tax Rates

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

	Three Months Ended March 31,
	2022			2021

Income (loss) before income taxes	$	(4,263	)	$	59,918
Income tax benefit (expense)		983			(13,195	)
Effective tax rate		23.1	%		22.0	%

Segment and Geographic Information (Tables)

3 Months Ended

Mar. 31, 2022

Segment Reporting [Abstract]

Summary of Financial Information for Each Reportable Segment

The table below summarizes the financial information for each reportable segment (in thousands):

	Three Months Ended March 31,
	2022		2021

Net revenue
Gamer and Creator Peripherals	$	134,148	$	175,912
Gaming Components and Systems		246,543		353,502
Total net revenue	$	380,691	$	529,414
Gross Profit
Gamer and Creator Peripherals	$	43,057	$	68,866
Gaming Components and Systems		47,699		91,462
Total gross profit	$	90,756	$	160,328

Summary of Net Revenue By Geographic Region

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

	Three Months Ended March 31,
	2022		2021

Net revenue
Americas	$	192,824	$	226,388
Europe and Middle East		122,198		225,494
Asia Pacific		65,669		77,532
Total net revenue	$	380,691	$	529,414

Redeemable Noncontrolling Interests (Tables)

3 Months Ended

Mar. 31, 2022

Income Amounts Attributable To Noncontrolling Interest Disclosures [Abstract]

Redeemable Noncontrolling Interests

The following table presents the changes in redeemable noncontrolling interests for the period presented (in thousands):

	Three Months Ended March 31, 2022

Balance at beginning of period	$	—
Redeemable noncontrolling interests in iDisplay estimated at fair value at Closing Date		17,522
Net loss attributable to redeemable noncontrolling interests		(241	)
Other comprehensive loss attributable to redeemable noncontrolling interests		(118	)
Change in redemption value of redeemable noncontrolling interests		2,261
Balance at end of period	$	19,424

Description of Business and Basis of Presentation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022 Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of reportable segments	2

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 01, 2022	Mar. 31, 2022
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Net loss attributable to noncontrolling interests		$ 407
ASU 2020-04
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted		true
Change in accounting principle, accounting standards update, adoption date		Jan. 01, 2022
Change in accounting principle, accounting standards update, immaterial effect		true
ASU 2021-08
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, 2022
Change in accounting principle, accounting standards update, immaterial effect		true
IDisplay Technology
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Percentage of equity interest acquired	51.00%	51.00%
Net loss attributable to noncontrolling interests	$ 400
IDisplay Technology \| IDisplay Seller
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Noncontrolling interest	49.00%

Fair Value Measurement - Summary of Financial Liabilities that Measured at Fair Value (Details) - Fair Value Recurring Basis - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Liabilities:
Liabilities	$ 1,345	$ 1,901
Foreign Currency Forward Contracts
Liabilities:
Liabilities	163	427
Other
Liabilities:
Liabilities	224	224
Deferred Cash Consideration Business Acquisition SCUF
Liabilities:
Liabilities	958	1,250
(Level 2)
Liabilities:
Liabilities	163	427
(Level 2) \| Foreign Currency Forward Contracts
Liabilities:
Liabilities	163	427
(Level 3)
Liabilities:
Liabilities	1,182	1,474
(Level 3) \| Other
Liabilities:
Liabilities	224	224
(Level 3) \| Deferred Cash Consideration Business Acquisition SCUF
Liabilities:
Liabilities	$ 958	$ 1,250

Fair Value Measurement - Summary of Financial Liabilities that Measured at Fair Value (Parenthetical) (Details) - Contingent Consideration Business Acquisition SCUF - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities	$ 1.0	$ 1.3
Contractual Amount
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities	0.3	0.3
Tax Return Filing Adjustment
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities	$ 1.0	$ 1.0

Derivative Financial Instruments - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2022 USD ($) Derivative	Mar. 31, 2021 USD ($)	Dec. 31, 2021 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	48,000,000.0		$ 48,600,000
Foreign Currency Forward Contracts \| Non Designated \| Other (Expense) Income
Derivative Instruments Gain Loss [Line Items]
Fair value gains (losses) recognized in other (expense) income	$ 500,000	$ 700,000
Minimum \| Foreign Currency Forward Contracts \| Non Designated
Derivative Instruments Gain Loss [Line Items]
Derivative maturity term	2 months
Maximum [Member] \| Foreign Currency Forward Contracts \| Non Designated
Derivative Instruments Gain Loss [Line Items]
Derivative maturity term	3 months

Business Combinations - Additional Information (Details) - IDisplay Technology - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Jan. 01, 2022	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Percentage of equity interest acquired	51.00%	51.00%
Fair value of consideration	$ 36,368
Purchase consideration paid in cash	$ 21,864
Purchase consideration paid in equity shares	690,333,000
Fair value of equity issued in business combination	$ 14,504
Accounts payable	$ 3,500
Percentage of Redeemable Noncontrolling Interests	29.00%
Put and call option expiration date	Jan. 01, 2025
Fair value of noncontrolling interest amount	$ 29,606
Percentage of controlling financial interest	15.00%
Implied minority discount percentage	13.00%
Inventory	$ 300
Fair value of identifiable intangible assets net tangible assets and liabilities acquired	32,000
Deferred tax liability	4,637
Acquisition-related costs		$ 500	$ 600
Gamer and Creator Peripherals
Business Acquisition [Line Items]
Fair value of identifiable intangible assets net tangible assets and liabilities acquired	28,500
Gaming Components and Systems
Business Acquisition [Line Items]
Fair value of identifiable intangible assets net tangible assets and liabilities acquired	$ 3,500
First Anniversary
Business Acquisition [Line Items]
Percentage of equity interest acquired	14.00%
Second Anniversary
Business Acquisition [Line Items]
Percentage of equity interest acquired	15.00%
IDisplay Seller
Business Acquisition [Line Items]
Noncontrolling interest	49.00%

Business Combinations - Schedule of Estimated Fair Value of Assets Acquired and Liabilities (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Mar. 31, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 348,424	$ 317,054
IDisplay Technology
Business Acquisition [Line Items]
Cash	$ 2,330
Accounts receivable	3,382
Inventories	2,765
Prepaid and other assets	424
Operating lease right-of-use asset	360
Property and equipment	277
Identifiable intangible assets	35,300
Goodwill	31,970
Total assets acquired	76,808
Accounts payable	(5,106)
Deferred tax liabilities	(4,637)
Accrued liabilities	(731)
Operating lease liabilities	(360)
Total liabilities assumed	(10,834)
Net assets acquired	65,974
Noncontrolling interests	(29,606)
Fair value of consideration	36,368
Purchase consideration:
Purchase consideration paid in cash	21,864
Fair value of equity issued in business combination	14,504
Fair value of consideration	$ 36,368

Business Combinations - Summary of Valuation of Identifiable Intangible Assets Acquired in Business Combination and Respective Useful Lives (Details) - IDisplay Technology $ in Thousands	Jan. 01, 2022 USD ($)
Business Acquisition [Line Items]
Preliminary Valuation	$ 35,300
Patent Portfolio
Business Acquisition [Line Items]
Preliminary Valuation	$ 5,200
Useful Life	6 years
Supplier Relationship
Business Acquisition [Line Items]
Preliminary Valuation	$ 6,700
Useful Life	6 years
Developed Technology
Business Acquisition [Line Items]
Preliminary Valuation	$ 23,400
Useful Life	6 years

Goodwill and Intangible Assets - Summary of Changes in Carrying Amount of Goodwill by Reportable Segment (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Goodwill [Line Items]
Balance	$ 317,054
Addition from iDisplay Acquisition	31,970
Effect of foreign currency exchange rates	(600)
Balance	348,424
Gaming Components and Systems
Goodwill [Line Items]
Balance	145,310
Addition from iDisplay Acquisition	3,485
Effect of foreign currency exchange rates	(22)
Balance	148,773
Gamer and Creator Peripherals
Goodwill [Line Items]
Balance	171,744
Addition from iDisplay Acquisition	28,485
Effect of foreign currency exchange rates	(578)
Balance	$ 199,651

Goodwill and Intangible Assets - Summary of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Total finite-life intangibles, Gross Carrying Amount	$ 349,296	$ 315,319
Total finite-life intangibles, Accumulated Amortization	135,008	125,163
Total finite-life intangibles, Net Carrying Amount	214,288	190,156
Total intangible assets, Gross Carrying Amount	384,849	350,872
Total intangible assets, Net Carrying Amount	249,841	225,709
Trade Name
Indefinite-life intangibles, Gross and Net Carrying Amount	35,430	35,430
Other
Indefinite-life intangibles, Gross and Net Carrying Amount	123	123
Developed Technology
Total finite-life intangibles, Gross Carrying Amount	55,486	32,086
Total finite-life intangibles, Accumulated Amortization	17,414	14,922
Total finite-life intangibles, Net Carrying Amount	38,072	17,164
Trade Name
Total finite-life intangibles, Gross Carrying Amount	30,454	30,665
Total finite-life intangibles, Accumulated Amortization	5,429	4,942
Total finite-life intangibles, Net Carrying Amount	25,025	25,723
Customer Relationships
Total finite-life intangibles, Gross Carrying Amount	218,560	218,566
Total finite-life intangibles, Accumulated Amortization	100,413	94,910
Total finite-life intangibles, Net Carrying Amount	118,147	123,656
Patents
Total finite-life intangibles, Gross Carrying Amount	35,799	31,481
Total finite-life intangibles, Accumulated Amortization	9,163	8,196
Total finite-life intangibles, Net Carrying Amount	26,636	23,285
Noncompete Agreements
Total finite-life intangibles, Gross Carrying Amount	2,521	2,521
Total finite-life intangibles, Accumulated Amortization	2,319	2,193
Total finite-life intangibles, Net Carrying Amount	202	$ 328
Supplier Relationship
Total finite-life intangibles, Gross Carrying Amount	6,476
Total finite-life intangibles, Accumulated Amortization	270
Total finite-life intangibles, Net Carrying Amount	$ 6,206

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 30,032
2023	38,530
2024	37,080
2025	36,777
2026	33,405
Thereafter	38,464
Total finite-life intangibles, Net Carrying Amount	$ 214,288	$ 190,156

Balance Sheet Components - Schedule of Components of Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Line Items]
Cash	$ 29,049	$ 62,415
Restricted cash	2,705	2,734
Restricted cash, noncurrent	231	231
Total cash and restricted cash	31,985	65,380	$ 125,582	$ 133,568
Accounts receivable	237,001	291,816
Allowance for doubtful accounts	(529)	(529)
Accounts receivable, net	236,472	291,287
Raw materials	78,467	62,110
Work in progress	8,095	4,931
Finished goods	213,861	231,274
Inventories	300,423	298,315
Total property and equipment	50,331	45,364
Less: Accumulated depreciation and amortization	(30,724)	(28,545)
Property and equipment, net	19,607	16,819
Right-of-use assets	48,620	51,387
Deferred tax asset	16,055	12,737
Other	10,121	7,684
Other assets	74,796	71,808
Accrued reserves for customer incentive programs	60,042	66,733
Accrued reserves for sales return	33,285	37,166
Accrued payroll and related expense	10,480	20,526
Accrued freight expenses	13,652	18,296
Operating lease liabilities, current	8,756	9,457
Income tax payable	8,233	6,316
Contract liabilities	4,716	6,663
Other	37,392	40,717
Other liabilities and accrued expenses	176,556	205,874
Operating lease liabilities, noncurrent	49,206	51,153
Other	2,970	2,718
Other liabilities, noncurrent	52,176	53,871
Manufacturing Equipment
Balance Sheet Related Disclosures [Line Items]
Total property and equipment	27,938	26,094
Computer Equipment, Software and Office Equipment
Balance Sheet Related Disclosures [Line Items]
Total property and equipment	9,642	9,407
Furniture and Fixtures
Balance Sheet Related Disclosures [Line Items]
Total property and equipment	4,949	5,154
Leasehold Improvements
Balance Sheet Related Disclosures [Line Items]
Total property and equipment	$ 7,802	$ 4,709

Balance Sheet Components - Additional Information (Details) $ in Millions	Mar. 31, 2022 USD ($) Customer	Dec. 31, 2021 USD ($) Customer
Inventory Exchanges
Concentration Risk [Line Items]
Sales and purchases of inventories in prepaid inventories	$ 6.2	$ 5.0
Sales and purchases of inventories in accrued liabilities	$ 6.7	$ 5.4
Accounts Receivable \| Credit Concentration Risk
Concentration Risk [Line Items]
Number of customers \| Customer	2	2

Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 247,500
Debt discount and issuance cost, net of amortization	(1,037)	$ (1,099)
Total debt	246,463	247,651
Less: debt maturing within one year	4,754	4,753
Long-term debt	241,709	242,898
Term Loan
Debt Instrument [Line Items]
Total debt	247,500	248,750
Total debt	$ 246,500	$ 247,700

- Definition

Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations.

+ References + Details

Debt - Summary of Debt (Parenthetical) (Details)	3 Months Ended
Debt - Summary of Debt (Parenthetical) (Details)	Mar. 31, 2022
Term Loan
Debt Instrument [Line Items]
Debt instrument, maturity date	2026-09

Debt - Additional Information (Details)		1 Months Ended					3 Months Ended
Debt - Additional Information (Details)	Sep. 03, 2021 USD ($)	Mar. 31, 2019 USD ($)	Oct. 31, 2018	Mar. 31, 2018 USD ($)	Aug. 31, 2017 USD ($)	Mar. 31, 2017 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Loss on debt extinguishment								$ 439,000
Borrowing from line of credit							$ 293,000,000
Carrying value of term loan							246,463,000		$ 247,651,000
First Lien Term Loan
Debt Instrument [Line Items]
Principal amount					$ 235,000,000
Debt instrument, maturity date					Aug. 28, 2024
Increase in Principal amount		$ 115,000,000		$ 115,000,000		$ 10,000,000
Voluntary Prepayment of debt								28,000,000
Loss on debt extinguishment								$ 439,000
Effective interest rate								6.45%
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%
Revolving Credit Facility
Debt Instrument [Line Items]
Principal amount					$ 50,000,000
Debt instrument, maturity date					Aug. 28, 2022
Revolving Credit Facility \| Federal Funds Effective Rate
Debt Instrument [Line Items]
Debt instrument, variable rate					0.50%
Revolving Credit Facility \| One Month LIBOR
Debt Instrument [Line Items]
Debt instrument, variable rate					1.00%
Debt instrument, maturity period of variable rate basis					1 month
Revolving Credit Facility \| 2%, Plus Margin Rate
Debt Instrument [Line Items]
Debt instrument, variable rate					3.50%
Debt instrument, interest rate					2.00%
Revolving Credit Facility \| 1%, Plus Margin Rate
Debt Instrument [Line Items]
Debt instrument, variable rate					4.50%
Debt instrument, interest rate					1.00%
Revolving Credit Facility \| Base Rate \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate			2.75%
Revolving Credit Facility \| Base Rate \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate			3.25%
Revolving Credit Facility \| Eurodollar \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate			3.75%
Revolving Credit Facility \| Eurodollar \| Maximum [Member]
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 [Member]
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 [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate			4.25%
Revolving Credit Facility Under Credit Agreement
Debt Instrument [Line Items]
Principal amount	$ 100,000,000.0
Credit facility, expiration period	5 years
Credit facility, expiration month and year	2026-09
Outstanding borrowing balance							0		0
Revolving Credit Facility Under Credit Agreement \| One Month LIBOR
Debt Instrument [Line Items]
Debt instrument, variable rate	1.00%
Debt instrument, maturity period of variable rate basis	1 month
Revolving Credit Facility Under Credit Agreement \| One Month LIBOR \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate	0.25%
Revolving Credit Facility Under Credit Agreement \| One Month LIBOR \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate	1.00%
Revolving Credit Facility Under Credit Agreement \| LIBOR \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate	1.25%
Revolving Credit Facility Under Credit Agreement \| LIBOR \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate	2.00%
Revolving Credit Facility Under Credit Agreement \| Federal Funds Rate
Debt Instrument [Line Items]
Debt instrument, variable rate	0.50%
Term Loan
Debt Instrument [Line Items]
Principal amount	$ 250,000,000.0
Credit facility, expiration period	5 years
Credit facility, expiration month and year	2026-09
Carrying value of term loan							246,500,000		$ 247,700,000
Term Loan \| (Level 2)
Debt Instrument [Line Items]
Estimated fair value of term loan							$ 255,500,000
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
Term Loan \| One Month LIBOR \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate	0.25%
Term Loan \| One Month LIBOR \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate	1.00%
Term Loan \| LIBOR \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate	1.25%
Term Loan \| LIBOR \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate	2.00%
Term Loan \| Federal Funds Rate
Debt Instrument [Line Items]
Debt instrument, variable rate	0.50%
Credit Agreement
Debt Instrument [Line Items]
Effective interest rate							1.49%
Credit facility, incremental maximum aggregate principal amount	$ 250,000,000.0
Borrowing from line of credit	248,500,000
Debt discount	$ 1,500,000
Increase in interest rate upon certain events of default	2.00%
Credit Agreement \| Minimum
Debt Instrument [Line Items]
Consolidated interest coverage ratio	3.0
Credit Agreement \| Maximum [Member]
Debt Instrument [Line Items]
Consolidated total net leverage ratio	3.0

Debt - Summary of Interest Expense Recognized (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Loss on debt extinguishment		$ 439
Other	$ 54	88
Total interest expense recognized	1,279	4,946
First Lien Term Loan
Debt Instrument [Line Items]
Contractual interest expense for term loan		3,882
Amortization of debt discount and issuance cost		537
Loss on debt extinguishment		$ 439
Credit Agreement, Term Loan
Debt Instrument [Line Items]
Contractual interest expense for term loan	865
Revolving Credit Facility Under Credit Agreement
Debt Instrument [Line Items]
Contractual interest expense for term loan	274
Credit Agreement
Debt Instrument [Line Items]
Amortization of debt discount and issuance cost	$ 86

Debt - Summary of Estimated Future Principal Payments under Total Long-term Debt (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Debt Disclosure [Abstract]
Remainder of 2022	$ 3,750
2023	6,875
2024	12,500
2025	12,500
2026	211,875
Total debt	$ 247,500

Commitments and Contingencies - Schedule of Changes in Warranty Obligations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Commitments And Contingencies Disclosure [Abstract]
Beginning of the period	$ 5,655	$ 5,865
Warranty provision related to products shipped	1,298	1,873
Deductions for warranty claims processed	(1,561)	(1,737)
End of period	$ 5,392	$ 6,001

Commitments and Contingencies - Schedule of Long-Term Non-Cancelable Purchase Commitment (Details) $ in Thousands	Mar. 31, 2022 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Remainder of 2022	$ 1,668
2023	2,659
2024	1,793
2025	316
Total	$ 6,436

Commitments and Contingencies - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022 USD ($) Claim	Dec. 31, 2021 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Non-cancelable long-term purchase commitments		$ 7,100,000
Letters of credit outstanding, amount	$ 500,000	$ 500,000
Line of credit facility, current borrowing capacity	$ 0
Loss contingency, claims settled, number \| Claim	0

Stockholders' Equity - Additional Information (Details) - $ / shares	Mar. 31, 2022	Dec. 31, 2021	Sep. 25, 2020
Equity [Abstract]
Authorized shares of common stock for issuance	300,000,000	300,000,000	300,000,000
Authorized shares of preferred stock for issuance	5,000,000	5,000,000	5,000,000
Authorized shares of common stock for issuance, par value	$ 0.0001	$ 0.0001	$ 0.0001
Authorized shares of preferred stock for issuance, par value	$ 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, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized	$ 5,147	$ 3,076
Income tax benefits related to stock-based compensation expense	311	919
Cost of Revenue
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized	285	181
Sales, General and Administrative
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized	4,152	2,572
Product Development
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock-based compensation expense, net of amounts capitalized	$ 710	$ 323

Equity Incentive Plans and Stock-Based Compensation - Summary of Total Unrecognized Stock-Based Compensation Expense and Remaining Period (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized stock-based compensation expense	$ 60,566
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs	$ 356
Remaining weighted average period (In years)	3 months 18 days
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options	$ 30,496
Remaining weighted average period (In years)	2 years 7 months 6 days
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs	$ 29,714
Remaining weighted average period (In years)	3 years 4 months 24 days

Equity Incentive Plans and Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Intrinsic value of options exercised	$ 1.5	$ 4.4
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value stock units vested	$ 2.5	$ 0.0

Net Income (Loss) Per Share - Computation of Basic and Diluted Net Income (Loss) Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator
Net income (loss)	$ (3,280)	$ 46,723
Less: Net loss attributable to noncontrolling interests	(407)
Net income (loss) attributable to Corsair Gaming, Inc.	(2,873)	46,723
Change in redemption value of redeemable noncontrolling interests	(2,261)
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc.	$ (5,134)	$ 46,723
Weighted-average common shares outstanding:
Basic	95,275	91,951
Effect of dilutive securities		8,260
Total diluted weighted-average shares outstanding	95,275	100,211
Net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.
Basic	$ 0.05	$ 0.51
Diluted	$ 0.05	$ 0.47
Anti-dilutive potential common shares	10,383	369

Income Taxes - Schedule of Income Before Income Taxes, Income Tax Expense and Effective Income Tax Rates (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ (4,263)	$ 59,918
Income tax benefit (expense)	$ 983	$ (13,195)
Effective tax rate	23.10%	22.00%

- 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)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8906-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=123384075&loc=d3e41242-110953

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 220
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(10))
-URI http://asc.fasb.org/extlink&oid=123367319&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI http://asc.fasb.org/extlink&oid=120400993&loc=SL114874131-224263

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 235
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI http://asc.fasb.org/extlink&oid=120399901&loc=d3e537907-122884

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 220
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
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+ Details

- 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, 2022	Mar. 31, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	23.10%	22.00%
stock-based compensation expense	$ 1.0
Unrealized tax benefits	$ 3.8		$ 3.8

Segment and Geographic Information - Additional Information (Details)	3 Months Ended
	Mar. 31, 2022 Segment Customer Country	Mar. 31, 2021 Customer Country
Segment Reporting Information [Line Items]
Number of reportable segments \| Segment	2
Geographic Concentration Risk \| Consolidated Net Revenue
Segment Reporting Information [Line Items]
Number of customer for more than minimum threshold percentage of revenue \| Customer	1	1
Geographic Concentration Risk \| Consolidated Net Revenue \| United States
Segment Reporting Information [Line Items]
Percentage of revenue from sales to customers	43.60%	36.20%
Geographic Concentration Risk \| Consolidated Net Revenue \| Non-US Excluding United Kingdom
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 \| Country	0	0

Segment and Geographic Information - Summary of Financial Information for Each Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 380,691	$ 529,414
Total gross profit	90,756	160,328
Gamer and Creator Peripherals
Segment Reporting Information [Line Items]
Net revenue	134,148	175,912
Total gross profit	43,057	68,866
Gaming Components and Systems
Segment Reporting Information [Line Items]
Net revenue	246,543	353,502
Total gross profit	$ 47,699	$ 91,462

- 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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+ Details

Segment and Geographic Information - Summary of Net Revenue By Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 380,691	$ 529,414
Americas
Segment Reporting Information [Line Items]
Net revenue	192,824	226,388
Europe and Middle East
Segment Reporting Information [Line Items]
Net revenue	122,198	225,494
Asia Pacific
Segment Reporting Information [Line Items]
Net revenue	$ 65,669	$ 77,532

- Definition

+ References

+ Details

Redeemable Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended
	Jan. 01, 2022	Mar. 31, 2022
Redeemable Noncontrolling Interest [Line Items]
Fair value of redeemable noncontrolling interest amount		$ 17,522
Nonredeemable noncontrolling interests		11,837
Change in redemption value of redeemable noncontrolling interests		$ (2,261)
IDisplay Technology
Redeemable Noncontrolling Interest [Line Items]
Percentage of equity interest acquired	51.00%	51.00%
Put and call option expiration date	Jan. 01, 2025
Fair value of noncontrolling interest amount	$ 29,606
Fair value of redeemable noncontrolling interest amount	$ 17,500
Percentage of Redeemable Noncontrolling Interests	29.00%
Nonredeemable noncontrolling interests	$ 12,100
Redemption value of redeemable noncontrolling interests		$ 2,300
Change in redemption value of redeemable noncontrolling interests		$ 2,300
IDisplay Technology \| IDisplay Seller
Redeemable Noncontrolling Interest [Line Items]
Noncontrolling interest	49.00%
Noncontrolling interests percentage	20.00%
IDisplay Technology \| First Anniversary
Redeemable Noncontrolling Interest [Line Items]
Percentage of equity interest acquired	14.00%
IDisplay Technology \| Second Anniversary
Redeemable Noncontrolling Interest [Line Items]
Percentage of equity interest acquired	15.00%

Redeemable Noncontrolling Interests - Schedule of Changes in Redeemable Noncontrolling Interests (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022 USD ($)
Income Amounts Attributable To Noncontrolling Interest Disclosures [Abstract]
Redeemable noncontrolling interests in iDisplay estimated at fair value at Closing Date	$ 17,522
Net loss attributable to redeemable noncontrolling interests	(241)
Other comprehensive loss attributable to redeemable noncontrolling interests	(118)
Change in redemption value of redeemable noncontrolling interests	2,261
Balance at end of period	$ 19,424