0001564590-22-036639 | 10-Q | XBRL Viewer

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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2022	Oct. 25, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
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	115 N. McCarthy Boulevard
Entity Address, City or Town	Milpitas
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	95035
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		95,988,656
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Net revenue	$ 311,769	$ 391,121	$ 976,368	$ 1,393,438
Cost of revenue	240,209	289,759	777,593	1,001,397
Gross profit	71,560	101,362	198,775	392,041
Operating expenses:
Sales, general and administrative	66,932	76,112	216,456	234,134
Product development	15,616	14,495	50,752	45,150
Total operating expenses	82,548	90,607	267,208	279,284
Operating income (loss)	(10,988)	10,755	(68,433)	112,757
Other (expense) income:
Interest expense	(2,734)	(7,202)	(5,689)	(16,656)
Other income (expense), net	1,662	(1,402)	1,796	(4,002)
Total other expense, net	(1,072)	(8,604)	(3,893)	(20,658)
Income (loss) before income taxes	(12,060)	2,151	(72,326)	92,099
Income tax benefit (expense)	6,115	(374)	11,262	(15,854)
Net income (loss)	(5,945)	1,777	(61,064)	76,245
Less: Net income attributable to noncontrolling interests	266		33
Net income (loss) attributable to Corsair Gaming, Inc.	(6,211)	1,777	(61,097)	76,245
Calculation of net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.:
Net income (loss) attributable to Corsair Gaming, Inc.	(6,211)	1,777	(61,097)	76,245
Change in redemption value of redeemable noncontrolling interests	(2,690)		(12,330)
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc.	$ (8,901)	$ 1,777	$ (73,427)	$ 76,245
Net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.:
Basic	$ 0.09	$ 0.02	$ (0.77)	$ 0.82
Diluted	$ 0.09	$ 0.02	$ (0.77)	$ 0.76
Weighted-average common shares outstanding:
Basic	95,858	93,918	95,537	92,894
Diluted	95,858	100,041	95,537	100,116

Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Net income (loss)	$ (5,945)	$ 1,777	$ (61,064)	$ 76,245
Other comprehensive gain (loss):
Foreign currency translation adjustments, net of tax benefit of $520 and $0 for the three months ended September 30, 2022 and 2021, respectively, and $507 and $0 for the nine months ended September 30, 2022 and 2021, respectively	(5,761)	(1,943)	(13,173)	(1,297)
Unrealized foreign exchange (loss) from long-term intercompany loans, net of tax benefit of $53 and $24 for the three months ended September 30, 2022 and 2021, respectively, and $127 and $56 for the nine months ended September 30, 2022 and 2021, respectively	(273)	(121)	(645)	(282)
Comprehensive income (loss)	(11,979)	(287)	(74,882)	74,666
Less: Comprehensive loss attributable to noncontrolling interests	(265)		(962)
Comprehensive income (loss) attributable to Corsair Gaming, Inc.	$ (11,714)	$ (287)	$ (73,920)	$ 74,666

- 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement Of Income And Comprehensive Income [Abstract]
Foreign currency translation adjustments, tax	$ 520	$ 0	$ 507	$ 0
Unrealized foreign exchange loss from long-term intercompany loans, tax benefit	$ 53	$ 24	$ 127	$ 56

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 57,275	$ 62,415
Restricted cash	4,176	2,734
Accounts receivable, net	156,311	291,287
Inventories	249,942	298,315
Prepaid expenses and other current assets	47,717	51,024
Total current assets	515,421	705,775
Restricted cash, noncurrent	231	231
Property and equipment, net	26,710	16,819
Goodwill	346,302	317,054
Intangible assets, net	224,256	225,709
Other assets	70,348	71,808
Total assets	1,183,268	1,337,396
Current liabilities:
Debt maturing within one year	4,655	4,753
Accounts payable	162,213	236,120
Other liabilities and accrued expenses	158,170	205,874
Total current liabilities	325,038	446,747
Long-term debt	239,052	242,898
Deferred tax liabilities	16,413	25,700
Other liabilities, noncurrent	47,796	53,871
Total liabilities	628,299	769,216
Commitments and Contingencies (Note 9)
Temporary equity
Redeemable noncontrolling interests	27,977
Corsair Gaming, Inc. stockholders’ equity:
Preferred stock, $0.0001 par value: 5,000 shares authorized, nil and nil shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively
Common stock, $0.0001 par value: 300,000 shares authorized, 95,950 and 94,510 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively	10	9
Additional paid-in capital	504,633	470,364
Retained earnings	24,720	98,147
Accumulated other comprehensive loss	(13,163)	(340)
Total Corsair Gaming, Inc. stockholders’ equity	516,200	568,180
Nonredeemable noncontrolling interests	10,792
Total permanent equity	526,992	568,180
Total liabilities, temporary equity and permanent equity	$ 1,183,268	$ 1,337,396

Condensed Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Sep. 30, 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	95,950,000	94,510,000
Common stock, shares outstanding	95,950,000	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)	76,245			76,245		76,245
Other comprehensive income (loss)	(1,579)				(1,579)	(1,579)
Issuance of common stock in connection with employee equity incentive plans	11,493		11,493			11,493
Issuance of common stock in connection with employee equity incentive plans, shares		2,258
Shares withheld related to net share settlement	(215)		(215)			(215)
Shares withheld related to net share settlement, shares		(7)
Stock-based compensation	13,681		13,681			13,681
Balance at Sep. 30, 2021	537,015	$ 9	463,626	73,432	(52)	537,015
Balance, shares at Sep. 30, 2021		94,186
Balance at Jun. 30, 2021	529,686	$ 9	456,010	71,655	2,012	529,686
Balance, shares at Jun. 30, 2021		93,790
Net income (loss)	1,777			1,777		1,777
Other comprehensive income (loss)	(2,064)				(2,064)	(2,064)
Issuance of common stock in connection with employee equity incentive plans	2,027		2,027			2,027
Issuance of common stock in connection with employee equity incentive plans, shares		403
Shares withheld related to net share settlement	(208)		(208)			(208)
Shares withheld related to net share settlement, shares		(7)
Stock-based compensation	5,797		5,797			5,797
Balance at Sep. 30, 2021	537,015	$ 9	463,626	73,432	(52)	537,015
Balance, shares at Sep. 30, 2021		94,186
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)	(61,083)			(61,097)		(61,097)	14
Other comprehensive income (loss)	(13,229)				(12,823)	(12,823)	(406)
Change in redemption value of redeemable noncontrolling interests	(12,330)			(12,330)		(12,330)
Dividend paid to nonredeemable noncontrolling interests	(900)						(900)
Issuance of common stock in connection with employee equity incentive plans	4,132		4,132			4,132
Issuance of common stock in connection with employee equity incentive plans, shares		822
Shares withheld related to net share settlement	(1,379)		(1,379)			(1,379)
Shares withheld related to net share settlement, shares		(72)
Stock-based compensation	17,012		17,012			17,012
Balance at Sep. 30, 2022	526,992	$ 10	504,633	24,720	(13,163)	516,200	10,792
Balance, shares at Sep. 30, 2022		95,950
Balance at Jun. 30, 2022	535,612	$ 10	498,741	33,621	(7,660)	524,712	10,900
Balance, shares at Jun. 30, 2022		95,780
Net income (loss)	(6,102)			(6,211)		(6,211)	109
Other comprehensive income (loss)	(5,720)				(5,503)	(5,503)	(217)
Change in redemption value of redeemable noncontrolling interests	(2,690)			(2,690)		(2,690)
Issuance of common stock in connection with employee equity incentive plans	624		624			624
Issuance of common stock in connection with employee equity incentive plans, shares		195
Shares withheld related to net share settlement	(402)		(402)			(402)
Shares withheld related to net share settlement, shares		(25)
Stock-based compensation	5,670		5,670			5,670
Balance at Sep. 30, 2022	$ 526,992	$ 10	$ 504,633	$ 24,720	$ (13,163)	$ 516,200	$ 10,792
Balance, shares at Sep. 30, 2022		95,950

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities:
Net income (loss)	$ (61,064)	$ 76,245
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Stock-based compensation	16,877	13,656
Depreciation	7,695	7,581
Amortization	33,924	26,118
Debt issuance costs amortization	274	1,372
Loss on debt extinguishment		4,868
Deferred income taxes	(19,552)	(6,556)
Other	1,721	1,649
Changes in operating assets and liabilities:
Accounts receivable	133,362	38,556
Inventories	54,371	(102,896)
Prepaid expenses and other assets	(7,132)	(7,790)
Accounts payable	(74,091)	(51,842)
Other liabilities and accrued expenses	(41,243)	24,100
Net cash provided by operating activities	45,142	25,061
Cash flows from investing activities:
Acquisition of business, net of cash acquired	(19,534)	(1,684)
Payment of deferred contingent consideration	(95)	(4,678)
Purchase of property and equipment	(19,850)	(7,677)
Investment in available-for-sale convertible note	(1,000)
Net cash used in investing activities	(40,479)	(14,039)
Cash flows from financing activities:
Proceeds from issuance of debt, net		248,513
Repayment of debt	(3,750)	(326,974)
Payment of debt issuance costs	(267)
Borrowing from line of credit	626,000
Repayment of line of credit	(626,000)
Payment of contingent consideration	(438)
Proceeds from issuance of shares through employee equity incentive plans	4,132	11,493
Payment of taxes related to net share settlement of equity awards	(1,399)	(215)
Dividends paid to noncontrolling interests	(2,205)
Net cash used in financing activities	(3,927)	(67,183)
Effect of exchange rate changes on cash	(4,434)	(1,078)
Net decrease in cash and restricted cash	(3,698)	(57,239)
Cash and restricted cash at the beginning of the period	65,380	133,568
Cash and restricted cash at the end of the period	61,682	76,329
Supplemental cash flow disclosures:
Cash paid for interest	5,406	10,066
Cash paid for income taxes	9,243	9,842
Supplemental schedule of non-cash investing and financing activities:
Equipment purchased and unpaid at period end	1,617	2,084
Right-of-use assets obtained in exchange for operating lease liabilities	1,767	34,557
Issuance of common stock relating to business acquisition	14,505
Debt issuance costs unpaid at period end	$ 283	$ 168

Description of Business and Basis of Presentation

9 Months Ended

Sep. 30, 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 laptops, and gaming monitor, among others.

Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 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 September 30, 2022 and our results of operations for the three and nine months ended September 30, 2022 and 2021. The results for the three and nine months ended September 30, 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 net income of $0.3 million and $33 thousand attributable to noncontrolling interests in our condensed consolidated statement of operations for the three and nine months ended September 30, 2022, respectively, 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 15 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.

Risks and Uncertainties

In February 2022, Russia invaded Ukraine resulting in, among other things, broad economic sanctions being imposed on Russia, and Russia’s drastic reduction in supply of natural gas to Europe in response, which has further increased existing global supply chain, logistics, and inflationary challenges and energy costs. Although our business in Russia and Ukraine was not material to our results, we believe the war has degraded the consumer sentiment in Europe and coupled with the unexpected worldwide inflationary pressures and the negative impacts from the strengthening of the U.S. dollar, has dampened consumer spending, which led to the 20.3% and 29.9% decrease in our net revenue in the three and nine months ended September 30, 2022, respectively, compared to the same periods last year.

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 through the first half of 2021, 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.

In addition, we have experienced and may in the future continue to experience supply chain challenges, including longer production and shipping times, and increased shipping and logistics costs, each of which has negatively impacted our gross margins, as well as the need to purchase long-lead time items ahead of demand due to supply constraints.

The extent of the impact of macroeconomic conditions, the COVID-19 pandemic and geopolitical tensions on our business, sales, results of operations, cash flows and financial condition will depend on future developments, which are not within our control and are highly uncertain and cannot be predicted. We will continue to evaluate these risks and uncertainties and further our mitigation plans.

During the second fiscal quarter of 2022, as part of the plan to rationalize inventory level to align with our updated revenue outlook for 2022, we increased our inventory impairment and related charges by approximately $22.7 million, as compared to the same period last year. In the third fiscal quarter of 2022, we have seen the excess inventory situation in the distribution channels begin to ease in the United States. Inventory impairment and related charges, of a routine nature, were recognized in the three months ended September 30, 2022, and the amount was immaterial.

In order to align our expenses with the expected revenue level, we implemented a restructuring plan in 2022 and terminated 94 employees worldwide, resulting in approximately $1.6 million of restructuring costs, primarily consisting of severance and benefits. Our restructuring plan has been completed as of September 30, 2022.

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

9 Months Ended

Sep. 30, 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 following tables summarize our financial assets and 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):

	September 30, 2022
	(Level 1)		(Level 2)		(Level 3)		Total

Assets:
Foreign currency forward contracts⁽¹⁾	$	—	$	828	$	—	$	828
Available-for-sale debt securities ⁽²⁾		—		—		1,000		1,000
Total assets	$	—	$	828	$	1,000	$	1,828

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽³⁾	$	—	$	—	$	954	$	954
Foreign currency forward contracts⁽¹⁾		—		15		—		15
Total liabilities	$	—	$	15	$	954	$	969

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

Assets:
Foreign currency forward contracts⁽¹⁾	$	—	$	33	$	—	$	33
Other		—		3		—		3
Total assets	$	—	$	36	$	—	$	36

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽³⁾	$	—	$	—	$	1,250	$	1,250
Foreign currency forward contracts⁽¹⁾		—		427		—		427
Other		—		—		224		224
Total liabilities	$	—	$	427	$	1,474	$	1,901

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

(2)

In May 2022, we invested in a convertible promissory note issued by a private company (the “Note”) for $1.0 million. The Note is interest bearing and matures in April 2023. The Note is classified as an available-for-sale security and is included in prepaid expenses and other assets in our condensed consolidated balance sheets. We included the Note as Level 3 in the fair value hierarchy due to the absence of quoted market prices or other observable data. The fair value of the Note is estimated based on a qualitative analysis using the most recent observable transaction price and other significant unobservable inputs requiring management judgement.

(3)

In December 2019, one of our subsidiaries entered into an Agreement and Plan of Merger with Scuf Holdings, Inc. and its 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 contingency around the remaining $1.0 million liability is expected to be resolved in the fourth quarter of 2022 and this amount is expected to be paid by the end of 2022.

- 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

9 Months Ended

Sep. 30, 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 four months. The notional principal amount of outstanding foreign exchange forward contracts was $32.4 million and $48.6 million as of September 30, 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 $1.5 million and $0.4 million for the three months ended September 30, 2022 and 2021, respectively, and was $4.1 million and $0.5 million for the nine months ended September 30, 2022 and 2021, respectively.

Business Combinations

9 Months Ended

Sep. 30, 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 (the “iDisplay Acquisition”), 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 15, “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.

Subsequent to the iDisplay Acquisition Closing Date, we recorded measurement period adjustments which increased goodwill by $1.0 million and decreased identifiable intangible assets and deferred liabilities by $1.1 million and $0.1 million, respectively. The final allocation of the iDisplay Acquisition purchase consideration to the estimated fair value of the assets acquired and liabilities assumed at the acquisition date is as follows (in thousands):

	Amounts

Cash	$	2,330
Accounts receivable		3,382
Inventories		2,772
Prepaid and other assets		424
Operating lease right-of-use asset		360
Property and equipment		277
Identifiable intangible assets		34,200
Goodwill		32,987
Total assets acquired		76,732
Accounts payable		(5,106	)
Deferred tax liabilities		(4,561	)
Accrued liabilities		(731	)
Operating lease liabilities		(360	)
Total liabilities assumed		(10,758	)
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 been estimated to be $33.0 million, of which $29.3 million and $3.7 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.

A portion of the identifiable intangible assets are not deductible for tax purposes of which $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, including subsequent measurement period adjustments:

	Valuation		Useful Life
	(In thousands)		(In years)

Patent portfolio	$	5,100		6
Supplier relationships		6,800		6
Developed technology		22,300		6
Total identifiable intangible assets	$	34,200

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 $0.1 million and $0.7 million for the three and nine months ended September 30, 2022, respectively, 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

9 Months Ended

Sep. 30, 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
Measurement period adjustments		235			782			1,017
Effect of foreign currency exchange rates		(157	)		(3,582	)		(3,739	)
Balance as of September 30, 2022	$	148,873		$	197,429		$	346,302

Intangible assets, net

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

	September 30, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology	$	53,986	$	21,821	$	32,165	$	32,086	$	14,922	$	17,164
Trade name		29,339		6,253		23,086		30,665		4,942		25,723
Customer relationships		218,527		111,405		107,122		218,566		94,910		123,656
Patent portfolio		31,042		9,884		21,158		31,481		8,196		23,285
Non-competition agreements		—		—		—		2,521		2,193		328
Supplier relationships		5,922		740		5,182		—		—		—
Total finite-life intangibles		338,816		150,103		188,713		315,319		125,163		190,156
Indefinite life trade name		35,430		—		35,430		35,430		—		35,430
Other		113		—		113		123		—		123
Total intangible assets	$	374,359	$	150,103	$	224,256	$	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 September 30, 2022 is as follows (in thousands):

	Amounts

Remainder of 2022	$	9,670
2023		37,561
2024		36,110
2025		35,814
2026		32,454
Thereafter		37,104
Total	$	188,713

Balance Sheet Components

9 Months Ended

Sep. 30, 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

	September 30, 2022		December 31, 2021

Cash	$	57,275	$	62,415
Restricted cash—short term		4,176		2,734
Restricted cash—noncurrent		231		231
Total cash and restricted cash	$	61,682	$	65,380

Accounts Receivable, Net

	September 30, 2022			December 31, 2021

Accounts receivable from customers	$	131,340		$	291,816
Due from factor		25,599			—
Allowance for doubtful accounts		(628	)		(529	)
Accounts receivable, net	$	156,311		$	291,287

On September 29, 2022, one of our fully consolidated subsidiaries entered into an accounts receivable factoring agreement (“Factoring Agreement”) with a third-party financial institution (“Factor”). Pursuant to the terms of the arrangement, we sell certain of our customer receivables on a non-recourse basis to the Factor. Proceeds from factoring the accounts receivable are due upon collection of payments from the customers, but upon our request, the Factor may, at their sole discretion, remit a portion of the proceeds to us prior to their collection of payments from the customers. Our obligations to the Factor arising from the Factoring Agreement are secured by certain assets of our subsidiary. In the three months ended September 30, 2022, we sold receivables and received cash proceeds of $66.3 million and $40.6 million, respectively. The cost of factoring is included in selling, general and administrative expenses in our condensed consolidated statements of operations and the amount incurred in the three months ended September 30, 2022, was immaterial.

As of September 30, 2022, the amount due from the Factor was $25.6 million, or 16.4% of our accounts receivable, net balance, with one other customer with more than 10% of our accounts receivable, net balance. Two customers represented 10% or more of our accounts receivable, net balance as of December 31, 2021.

Inventories

	September 30, 2022		December 31, 2021

Raw materials	$	51,726	$	62,110
Work in progress		9,975		4,931
Finished goods		188,241		231,274
Inventories	$	249,942	$	298,315

Property and Equipment, Net

	September 30, 2022			December 31, 2021

Manufacturing equipment	$	27,342		$	26,094
Computer equipment, software and office equipment		11,757			9,407
Furniture and fixtures		4,884			5,154
Leasehold improvements		15,935			4,709
Total property and equipment	$	59,918		$	45,364
Less: Accumulated depreciation and amortization		(33,208	)		(28,545	)
Property and equipment, net	$	26,710		$	16,819

Other Assets

	September 30, 2022		December 31, 2021

Right-of-use assets	$	43,095	$	51,387
Deferred tax asset		20,093		12,737
Other		7,160		7,684
Other assets	$	70,348	$	71,808

Other Liabilities and Accrued Expenses

	September 30, 2022		December 31, 2021

Accrued reserves for customer incentive programs	$	52,151	$	66,733
Accrued reserves for sales return		26,989		37,166
Income tax payable		13,902		6,316
Accrued freight expenses		11,931		18,296
Accrued payroll and related expense		10,280		20,526
Operating lease liabilities, current		7,690		9,457
Contract liabilities		3,406		6,663
Other		31,821		40,717
Other liabilities and accrued expenses	$	158,170	$	205,874

Other Liabilities, Noncurrent

	September 30, 2022		December 31, 2021

Operating lease liabilities, noncurrent	$	44,574	$	51,153
Other		3,222		2,718
Other liabilities, noncurrent	$	47,796	$	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 September 30, 2022, we recognized $0.5 million prepaid inventory and $0.6 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

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Debt

8. Debt

Our debt consisted of the following (in thousands):

	September 30, 2022			December 31, 2021

Term Loan (variable rate) due September 2026	$	245,000		$	248,750
Debt discount and issuance cost, net of amortization		(1,293	)		(1,099	)
Total debt		243,707			247,651
Less: debt maturing within one year		4,655			4,753
Long-term debt	$	239,052		$	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 nine months ended September 30, 2021, with the excess cash on hand, we made voluntary prepayments of $78.3 million. The remaining $248.5 million of the First Lien Term Loan was 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. Accordingly, we recorded losses on extinguishment of debt of $4.9 million for the nine months ended September 30, 2021.

The effective interest rate inclusive of the debt discount and debt issuance costs for the First Lien was approximately 5.7% and 5.4% for the three and nine months ended September 30, 2021, respectively.

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 initially carried interest at the Company’s election at 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.

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. The financial covenants include 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 the Credit Agreement). 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%.

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.

On June 30, 2022, we entered into a First Amendment of the Credit Agreement (“First Amendment”), which among other changes resulted in the Bloomberg Short-Term Bank Yield Index rate (“BSBY”) being utilized as a replacement rate for LIBOR. Consequently, following the First Amendment, the Term Loan and Revolving Facility will each bear interest at the Company’s election at either (a) BSBY plus a percentage spread (ranging from 1.25% to 2.25%) based on our total net leverage ratio, or (b) the

base rate (as 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 BSBY plus 1.0%) plus a percentage spread (ranging from 0.25% to 1.25%) based on our total net leverage ratio. In addition, pursuant to the First Amendment, the maximum permitted Consolidated Total Net Leverage Ratio (as defined in the Credit Agreement) was also amended to increase to 3.50 to 1.0 between the quarters ending September 30, 2022 through and including March 31, 2023, and such ratio will revert to 3.00 to 1.00 from the quarter ended June 30, 2023 and each quarter thereafter, provided that, upon the occurrence of a Qualified Acquisition (as defined in the Credit Agreement), such ratio can be increased to 3.50 to 1.0 temporarily provided all the requirements set forth in the Credit Agreement are met.

On September 29, 2022, we entered into an accounts receivable Factoring Agreement with a Factor. See Note 7 “Balance Sheet Components – Accounts Receivable, Net” for additional information on the Factoring Agreement. In connection with the Factoring Agreement, we also entered into (i) a Second Amendment (“Second Amendment”) to the Credit Agreement to permit the transactions contemplated by the Factoring Agreement and (ii) an Assignment of Factoring Proceeds and Intercreditor Agreement with the Factor and the administrative agent under the Credit Agreement to establish the respective rights of the Factor and the Credit Agreement Agent in and to the related factoring collateral.

The First and Second Amendment were both accounted for as debt modifications.

As of September 30, 2022, we were not in default under the Credit Agreement.

As of September 30, 2022 and December 31, 2021, we had no outstanding balance under the Revolving Facility.

The carrying value of our Term Loan was $243.7 million and $247.7 million as of September 30, 2022 and December 31, 2021, respectively. The estimated fair value of the Term Loan as of September 30, 2022, which we have classified as a Level 2 financial instrument, was approximately $243.2 million.

The effective interest rate inclusive of the debt discount and debt issuance costs was approximately 3.8% and 2.5% for the three and nine months ended September 30, 2022, respectively.

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

First Lien Guaranty Agreement:
Contractual interest expense for term loan	$	—	$	2,399	$	—	$	9,818
Amortization of debt discount and issuance cost		—		291		—		1,343
Loss on debt extinguishment		—		4,107		—		4,904
Credit Agreement:
Contractual interest expense for term loan		2,129		286		4,364		286
Contractual interest expense for revolving facility		489		—		964		—
Amortization of debt discount and issuance cost		102		29		274		29
Other		14		90		87		276
Total interest expense recognized	$	2,734	$	7,202	$	5,689	$	16,656

The estimated future principal payments under our total long-term debt as of September 30, 2022 are as follows (in thousands):

	Amounts

Remainder of 2022	$	1,250
2023		6,875
2024		12,500
2025		12,500
2026		211,875
Thereafter		—
Total debt	$	245,000

- 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

9 Months Ended

Sep. 30, 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 September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021

Beginning of the period	$	4,765		$	5,749		$	5,655		$	5,865
Warranty provision related to products shipped		244			1,690			2,709			5,223
Deductions for warranty claims processed		(1,449	)		(1,678	)		(4,804	)		(5,327	)
End of period	$	3,560		$	5,761		$	3,560		$	5,761

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 various reporting applications and the related support services. Long-term non-cancelable purchase commitments as of September 30, 2022 were as follows (in thousands):

	Amounts

Remainder of 2022	$	563
2023		2,417
2024		2,417
2025		328
2026		—
Thereafter		—
Total	$	5,725

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

Letters of Credit

There were no letters of credit outstanding as of September 30, 2022; total letters of credit outstanding were $0.5 million as of 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

9 Months Ended

Sep. 30, 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 September 30, 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

9 Months Ended

Sep. 30, 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 September 30, 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Cost of revenue	$	369	$	282	$	1,034	$	756
Sales, general and administrative		4,505		4,889		13,518		11,061
Product development		769		641		2,329		1,839
Stock-based compensation expense, net of amounts capitalized ⁽¹⁾	$	5,643	$	5,812	$	16,881	$	13,656
Income tax benefits related to stock-based compensation expense	$	123	$	832	$	493	$	5,987

(1)

Total stock-based compensation expense capitalized in inventory and as cloud computing arrangement 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):

	September 30, 2022
	Unrecognized Expense		Remaining weighted average period (In years)

Stock Options	$	24,702	2.6
RSUs		27,773	3.0
ESPP		300	0.25
Total unrecognized stock-based compensation expense	$	52,775

The total intrinsic value of options exercised was $0.4 million and $4.4 million for the three and nine months ended September 30, 2022, respectively, and was $8.8 million and $62.4 million for the three and nine months ended September 30, 2021, respectively. The total fair value of RSUs vested was $1.1 million and $4.0 million for the three and nine months ended September 30, 2022, respectively, and was $0.8 million for both the three and nine months ended September 30, 2021.

Net Income (Loss) Per Share

9 Months Ended

Sep. 30, 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 September 30,					Nine Months Ended September 30,
	2022			2021		2022			2021

Numerator
Net income (loss)	$	(5,945	)	$	1,777	$	(61,064	)	$	76,245
Less: Net income attributable to noncontrolling interests		266			—		33			—
Net income (loss) attributable to Corsair Gaming, Inc.		(6,211	)		1,777		(61,097	)		76,245
Change in redemption value of redeemable noncontrolling interests		(2,690	)		—		(12,330	)		—
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc.	$	(8,901	)	$	1,777	$	(73,427	)	$	76,245
Denominator
Basic weighted-average shares outstanding		95,858			93,918		95,537			92,894
Effect of dilutive securities ⁽¹⁾		—			6,123		—			7,222
Total diluted weighted-average shares outstanding		95,858			100,041		95,537			100,116

Net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.
Basic	$	(0.09	)	$	0.02	$	(0.77	)	$	0.82
Diluted	$	(0.09	)	$	0.02	$	(0.77	)	$	0.76

Anti-dilutive potential common shares ⁽¹⁾		11,241			1,226		10,941			792

(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

9 Months Ended

Sep. 30, 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, except percentages):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021

Income (loss) before income taxes	$	(12,060	)	$	2,151		$	(72,326	)	$	92,099
Income tax benefit (expense)		6,115			(374	)		11,262			(15,854	)
Effective tax rate		50.7	%		17.4	%		15.6	%		17.2	%

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 50.7% and 17.4% for the three months ended September 30, 2022 and 2021, respectively. The increase in effective tax rates was primarily due to the change in the forecast and the mix of losses between the various jurisdictions.

Our effective tax rates were 15.6% and 17.2% for the nine months ended September 30, 2022 and 2021, respectively. The decrease in effective tax rates was primarily due to an increase in losses in our foreign subsidiaries, which was partially offset by a decrease in excess tax benefits from stock-based compensation recognized in the nine months ended September 30, 2022, as compared to the same period last year. In addition, in the nine months ended September 30, 2021, we recorded a $1.4 million one-time tax

expense related to the remeasurement of our United Kingdom deferred tax liabilities as a result of the enactment of the increased corporate tax rate in the United Kingdom.

Unrecognized tax benefits were $3.8 million as of September 30, 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.

+ References

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+ Details

Segment and Geographic Information

9 Months Ended

Sep. 30, 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 and laptops, and gaming monitor, 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Net revenue
Gamer and Creator Peripherals	$	96,848	$	139,260	$	319,985	$	470,329
Gaming Components and Systems		214,921		251,861		656,383		923,109
Total net revenue	$	311,769	$	391,121	$	976,368	$	1,393,438
Gross Profit
Gamer and Creator Peripherals	$	31,790	$	48,580	$	85,405	$	172,080
Gaming Components and Systems		39,770		52,782		113,370		219,961
Total gross profit	$	71,560	$	101,362	$	198,775	$	392,041

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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Net revenue
Americas	$	164,378	$	189,330	$	506,835	$	606,788
Europe and Middle East		91,092		147,703		284,521		560,905
Asia Pacific		56,299		54,088		185,012		225,745
Total net revenue	$	311,769	$	391,121	$	976,368	$	1,393,438

Revenues from sales to customers in the United States represented 44.7% and 41.4% for the three months ended September 30, 2022 and 2021, respectively, and represented 44.5% and 37.3% for the nine months ended September 30, 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.

Two customers represented at least 10% of total net revenue for the three and nine months ended September 30, 2022. One customer represented at least 10% of total net revenue for the three and nine months ended September 30, 2021.

- 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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+ Details

Redeemable Noncontrolling Interests

9 Months Ended

Sep. 30, 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 and carried at redemption value on our condensed consolidated balance sheet. The change in redemption value is recognized through retained earnings.

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.

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

	Three Months Ended September 30, 2022			Nine Months Ended September 30, 2022

Balance at beginning of period	$	26,749		$	—
Redeemable noncontrolling interests in iDisplay estimated at fair value at Closing Date		—			17,522
Net income attributable to redeemable noncontrolling interests		157			19
Other comprehensive loss attributable to redeemable noncontrolling interests		(314	)		(589	)
Dividend paid to the redeemable noncontrolling interests		(1,305	)		(1,305	)
Change in redemption value of redeemable noncontrolling interests ⁽¹⁾		2,690			12,330
Balance at end of period ⁽²⁾	$	27,977		$	27,977

(1)

These amounts represent a $2.7 million and $12.3 million increase in redemption value over the carrying value for the three and nine months ended September 30, 2022 respectively. These amounts were recorded as an offset to retained earnings and increased the net loss used in the calculation of net loss per share attributable for these periods.

(2)

The redeemable noncontrolling interests balance at September 30, 2022 included the amount that would be paid to the noncontrolling interests holder if they exercise their put option (calculated based on multiples of iDisplay’s historical TTM EBITDA less any debt), and the accrual for dividends based on the Shareholders Agreement.

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 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 September 30, 2022 and our results of operations for the three and nine months ended September 30, 2022 and 2021. The results for the three and nine months ended September 30, 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 net income of $0.3 million and $33 thousand attributable to noncontrolling interests in our condensed consolidated statement of operations for the three and nine months ended September 30, 2022, respectively, 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 15 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.
Risks and Uncertainties	Risks and Uncertainties In February 2022, Russia invaded Ukraine resulting in, among other things, broad economic sanctions being imposed on Russia, and Russia’s drastic reduction in supply of natural gas to Europe in response, which has further increased existing global supply chain, logistics, and inflationary challenges and energy costs. Although our business in Russia and Ukraine was not material to our results, we believe the war has degraded the consumer sentiment in Europe and coupled with the unexpected worldwide inflationary pressures and the negative impacts from the strengthening of the U.S. dollar, has dampened consumer spending, which led to the 20.3% and 29.9% decrease in our net revenue in the three and nine months ended September 30, 2022, respectively, compared to the same periods last year. 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 through the first half of 2021, 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. In addition, we have experienced and may in the future continue to experience supply chain challenges, including longer production and shipping times, and increased shipping and logistics costs, each of which has negatively impacted our gross margins, as well as the need to purchase long-lead time items ahead of demand due to supply constraints. The extent of the impact of macroeconomic conditions, the COVID-19 pandemic and geopolitical tensions on our business, sales, results of operations, cash flows and financial condition will depend on future developments, which are not within our control and are highly uncertain and cannot be predicted. We will continue to evaluate these risks and uncertainties and further our mitigation plans. During the second fiscal quarter of 2022, as part of the plan to rationalize inventory level to align with our updated revenue outlook for 2022, we increased our inventory impairment and related charges by approximately $22.7 million, as compared to the same period last year. In the third fiscal quarter of 2022, we have seen the excess inventory situation in the distribution channels begin to ease in the United States. Inventory impairment and related charges, of a routine nature, were recognized in the three months ended September 30, 2022, and the amount was immaterial. In order to align our expenses with the expected revenue level, we implemented a restructuring plan in 2022 and terminated 94 employees worldwide, resulting in approximately $1.6 million of restructuring costs, primarily consisting of severance and benefits. Our restructuring plan has been completed as of September 30, 2022.
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)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Summary of Financial Assets and Liabilities that Measured at Fair Value

	September 30, 2022
	(Level 1)		(Level 2)		(Level 3)		Total

Assets:
Foreign currency forward contracts⁽¹⁾	$	—	$	828	$	—	$	828
Available-for-sale debt securities ⁽²⁾		—		—		1,000		1,000
Total assets	$	—	$	828	$	1,000	$	1,828

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽³⁾	$	—	$	—	$	954	$	954
Foreign currency forward contracts⁽¹⁾		—		15		—		15
Total liabilities	$	—	$	15	$	954	$	969

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

Assets:
Foreign currency forward contracts⁽¹⁾	$	—	$	33	$	—	$	33
Other		—		3		—		3
Total assets	$	—	$	36	$	—	$	36

Liabilities:
Deferred cash consideration in connection with a business acquisition—SCUF⁽³⁾	$	—	$	—	$	1,250	$	1,250
Foreign currency forward contracts⁽¹⁾		—		427		—		427
Other		—		—		224		224
Total liabilities	$	—	$	427	$	1,474	$	1,901

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

(2)

(3)

Business Combinations (Tables)

9 Months Ended

Sep. 30, 2022

Business Combinations [Abstract]

Schedule of Estimated Fair Value of Assets Acquired and Liabilities

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

	Amounts

Cash	$	2,330
Accounts receivable		3,382
Inventories		2,772
Prepaid and other assets		424
Operating lease right-of-use asset		360
Property and equipment		277
Identifiable intangible assets		34,200
Goodwill		32,987
Total assets acquired		76,732
Accounts payable		(5,106	)
Deferred tax liabilities		(4,561	)
Accrued liabilities		(731	)
Operating lease liabilities		(360	)
Total liabilities assumed		(10,758	)
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

	Valuation		Useful Life
	(In thousands)		(In years)

Patent portfolio	$	5,100		6
Supplier relationships		6,800		6
Developed technology		22,300		6
Total identifiable intangible assets	$	34,200

Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 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
Measurement period adjustments		235			782			1,017
Effect of foreign currency exchange rates		(157	)		(3,582	)		(3,739	)
Balance as of September 30, 2022	$	148,873		$	197,429		$	346,302

Summary of Intangible Assets, Net

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

	September 30, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount

Developed technology	$	53,986	$	21,821	$	32,165	$	32,086	$	14,922	$	17,164
Trade name		29,339		6,253		23,086		30,665		4,942		25,723
Customer relationships		218,527		111,405		107,122		218,566		94,910		123,656
Patent portfolio		31,042		9,884		21,158		31,481		8,196		23,285
Non-competition agreements		—		—		—		2,521		2,193		328
Supplier relationships		5,922		740		5,182		—		—		—
Total finite-life intangibles		338,816		150,103		188,713		315,319		125,163		190,156
Indefinite life trade name		35,430		—		35,430		35,430		—		35,430
Other		113		—		113		123		—		123
Total intangible assets	$	374,359	$	150,103	$	224,256	$	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 September 30, 2022 is as follows (in thousands):

	Amounts

Remainder of 2022	$	9,670
2023		37,561
2024		36,110
2025		35,814
2026		32,454
Thereafter		37,104
Total	$	188,713

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (g)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (e)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1A
-URI https://asc.fasb.org/extlink&oid=121556970&loc=SL108378252-109267

Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (f)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13854-109267

Reference 11: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 55
-Paragraph 24
-URI https://asc.fasb.org/extlink&oid=122137925&loc=d3e14258-109268

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 350
-SubTopic 20
-Section 50
-Paragraph 1
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121556970&loc=d3e13816-109267

+ Details

Balance Sheet Components (Tables)

9 Months Ended

Sep. 30, 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

	September 30, 2022		December 31, 2021

Cash	$	57,275	$	62,415
Restricted cash—short term		4,176		2,734
Restricted cash—noncurrent		231		231
Total cash and restricted cash	$	61,682	$	65,380

Accounts Receivable, Net

	September 30, 2022			December 31, 2021

Accounts receivable from customers	$	131,340		$	291,816
Due from factor		25,599			—
Allowance for doubtful accounts		(628	)		(529	)
Accounts receivable, net	$	156,311		$	291,287

Inventories

	September 30, 2022		December 31, 2021

Raw materials	$	51,726	$	62,110
Work in progress		9,975		4,931
Finished goods		188,241		231,274
Inventories	$	249,942	$	298,315

Property and Equipment, Net

	September 30, 2022			December 31, 2021

Manufacturing equipment	$	27,342		$	26,094
Computer equipment, software and office equipment		11,757			9,407
Furniture and fixtures		4,884			5,154
Leasehold improvements		15,935			4,709
Total property and equipment	$	59,918		$	45,364
Less: Accumulated depreciation and amortization		(33,208	)		(28,545	)
Property and equipment, net	$	26,710		$	16,819

Other Assets

	September 30, 2022		December 31, 2021

Right-of-use assets	$	43,095	$	51,387
Deferred tax asset		20,093		12,737
Other		7,160		7,684
Other assets	$	70,348	$	71,808

Other Liabilities and Accrued Expenses

	September 30, 2022		December 31, 2021

Accrued reserves for customer incentive programs	$	52,151	$	66,733
Accrued reserves for sales return		26,989		37,166
Income tax payable		13,902		6,316
Accrued freight expenses		11,931		18,296
Accrued payroll and related expense		10,280		20,526
Operating lease liabilities, current		7,690		9,457
Contract liabilities		3,406		6,663
Other		31,821		40,717
Other liabilities and accrued expenses	$	158,170	$	205,874

Other Liabilities, Noncurrent

	September 30, 2022		December 31, 2021

Operating lease liabilities, noncurrent	$	44,574	$	51,153
Other		3,222		2,718
Other liabilities, noncurrent	$	47,796	$	53,871

Debt (Tables)

9 Months Ended

Sep. 30, 2022

Debt Disclosure [Abstract]

Summary of Debt

Our debt consisted of the following (in thousands):

	September 30, 2022			December 31, 2021

Term Loan (variable rate) due September 2026	$	245,000		$	248,750
Debt discount and issuance cost, net of amortization		(1,293	)		(1,099	)
Total debt		243,707			247,651
Less: debt maturing within one year		4,655			4,753
Long-term debt	$	239,052		$	242,898

Summary of Interest Expense Recognized

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

First Lien Guaranty Agreement:
Contractual interest expense for term loan	$	—	$	2,399	$	—	$	9,818
Amortization of debt discount and issuance cost		—		291		—		1,343
Loss on debt extinguishment		—		4,107		—		4,904
Credit Agreement:
Contractual interest expense for term loan		2,129		286		4,364		286
Contractual interest expense for revolving facility		489		—		964		—
Amortization of debt discount and issuance cost		102		29		274		29
Other		14		90		87		276
Total interest expense recognized	$	2,734	$	7,202	$	5,689	$	16,656

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

The estimated future principal payments under our total long-term debt as of September 30, 2022 are as follows (in thousands):

	Amounts

Remainder of 2022	$	1,250
2023		6,875
2024		12,500
2025		12,500
2026		211,875
Thereafter		—
Total debt	$	245,000

Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2022

Commitments And Contingencies Disclosure [Abstract]

Schedule of Changes in Warranty

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

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021

Beginning of the period	$	4,765		$	5,749		$	5,655		$	5,865
Warranty provision related to products shipped		244			1,690			2,709			5,223
Deductions for warranty claims processed		(1,449	)		(1,678	)		(4,804	)		(5,327	)
End of period	$	3,560		$	5,761		$	3,560		$	5,761

Schedule of Long-Term Non-Cancelable Purchase Commitment

Long-term non-cancelable purchase commitments as of September 30, 2022 were as follows (in thousands)

	Amounts

Remainder of 2022	$	563
2023		2,417
2024		2,417
2025		328
2026		—
Thereafter		—
Total	$	5,725

Equity Incentive Plans and Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Cost of revenue	$	369	$	282	$	1,034	$	756
Sales, general and administrative		4,505		4,889		13,518		11,061
Product development		769		641		2,329		1,839
Stock-based compensation expense, net of amounts capitalized ⁽¹⁾	$	5,643	$	5,812	$	16,881	$	13,656
Income tax benefits related to stock-based compensation expense	$	123	$	832	$	493	$	5,987

(1)

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

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

	September 30, 2022
	Unrecognized Expense		Remaining weighted average period (In years)

Stock Options	$	24,702	2.6
RSUs		27,773	3.0
ESPP		300	0.25
Total unrecognized stock-based compensation expense	$	52,775

Net Income (Loss) Per Share (Tables)

9 Months Ended

Sep. 30, 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 September 30,					Nine Months Ended September 30,
	2022			2021		2022			2021

Numerator
Net income (loss)	$	(5,945	)	$	1,777	$	(61,064	)	$	76,245
Less: Net income attributable to noncontrolling interests		266			—		33			—
Net income (loss) attributable to Corsair Gaming, Inc.		(6,211	)		1,777		(61,097	)		76,245
Change in redemption value of redeemable noncontrolling interests		(2,690	)		—		(12,330	)		—
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc.	$	(8,901	)	$	1,777	$	(73,427	)	$	76,245
Denominator
Basic weighted-average shares outstanding		95,858			93,918		95,537			92,894
Effect of dilutive securities ⁽¹⁾		—			6,123		—			7,222
Total diluted weighted-average shares outstanding		95,858			100,041		95,537			100,116

Net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.
Basic	$	(0.09	)	$	0.02	$	(0.77	)	$	0.82
Diluted	$	(0.09	)	$	0.02	$	(0.77	)	$	0.76

Anti-dilutive potential common shares ⁽¹⁾		11,241			1,226		10,941			792

(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)

9 Months Ended

Sep. 30, 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, except percentages):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022			2021

Income (loss) before income taxes	$	(12,060	)	$	2,151		$	(72,326	)	$	92,099
Income tax benefit (expense)		6,115			(374	)		11,262			(15,854	)
Effective tax rate		50.7	%		17.4	%		15.6	%		17.2	%

Segment and Geographic Information (Tables)

9 Months Ended

Sep. 30, 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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Net revenue
Gamer and Creator Peripherals	$	96,848	$	139,260	$	319,985	$	470,329
Gaming Components and Systems		214,921		251,861		656,383		923,109
Total net revenue	$	311,769	$	391,121	$	976,368	$	1,393,438
Gross Profit
Gamer and Creator Peripherals	$	31,790	$	48,580	$	85,405	$	172,080
Gaming Components and Systems		39,770		52,782		113,370		219,961
Total gross profit	$	71,560	$	101,362	$	198,775	$	392,041

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 September 30,				Nine Months Ended September 30,
	2022		2021		2022		2021

Net revenue
Americas	$	164,378	$	189,330	$	506,835	$	606,788
Europe and Middle East		91,092		147,703		284,521		560,905
Asia Pacific		56,299		54,088		185,012		225,745
Total net revenue	$	311,769	$	391,121	$	976,368	$	1,393,438

Redeemable Noncontrolling Interests (Tables)

9 Months Ended

Sep. 30, 2022

Income Amounts Attributable To Noncontrolling Interest Disclosures [Abstract]

Redeemable Noncontrolling Interests

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

	Three Months Ended September 30, 2022			Nine Months Ended September 30, 2022

Balance at beginning of period	$	26,749		$	—
Redeemable noncontrolling interests in iDisplay estimated at fair value at Closing Date		—			17,522
Net income attributable to redeemable noncontrolling interests		157			19
Other comprehensive loss attributable to redeemable noncontrolling interests		(314	)		(589	)
Dividend paid to the redeemable noncontrolling interests		(1,305	)		(1,305	)
Change in redemption value of redeemable noncontrolling interests ⁽¹⁾		2,690			12,330
Balance at end of period ⁽²⁾	$	27,977		$	27,977

(1)

(2)

Description of Business and Basis of Presentation - Additional Information (Detail)	9 Months Ended
	Sep. 30, 2022 Segment
Organization Consolidation And Presentation Of Financial Statements [Abstract]
Number of reportable segments	2

Summary of Significant Accounting Policies - Additional Information (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2022 USD ($) Employee	Jan. 01, 2022
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Net income attributable to noncontrolling interests	$ 266		$ 33
Decreased in percentage of net revenue	20.30%		29.90%
Increase decrease in inventory impairment and related charges		$ 22,700
Restructuring and related cost, number of positions eliminated \| Employee			94
Restructuring and related cost, severance and benefits			$ 1,600
ASU 2020-04
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true		true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2022		Jan. 01, 2022
Change in accounting principle, accounting standards update, immaterial effect	true		true
ASU 2021-08
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Change in accounting principle, accounting standards update, adopted	true		true
Change in accounting principle, accounting standards update, adoption date	Jan. 01, 2022		Jan. 01, 2022
Change in accounting principle, accounting standards update, immaterial effect	true		true
IDisplay Technology
New Accounting Pronouncements Or Change In Accounting Principle [Line Items]
Percentage of equity interest acquired	51.00%		51.00%	51.00%
Net income attributable to noncontrolling interests	$ 300		$ 33
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	Sep. 30, 2022	Dec. 31, 2021
Assets:
Assets	$ 1,828	$ 36
Liabilities:
Liabilities	969	1,901
Available-for Sale Debt Securities
Assets:
Assets	1,000
Foreign Currency Forward Contracts
Assets:
Assets	828	33
Liabilities:
Liabilities	15	427
Other
Assets:
Assets		3
Liabilities:
Liabilities		224
(Level 2)
Assets:
Assets	828	36
Liabilities:
Liabilities	15	427
(Level 2) \| Foreign Currency Forward Contracts
Assets:
Assets	828	33
Liabilities:
Liabilities	15	427
(Level 2) \| Other
Assets:
Assets		3
(Level 3)
Assets:
Assets	1,000
Liabilities:
Liabilities	954	1,474
(Level 3) \| Available-for Sale Debt Securities
Assets:
Assets	1,000
(Level 3) \| Other
Liabilities:
Liabilities		224
Deferred Cash Consideration Business Acquisition SCUF
Liabilities:
Liabilities	954	1,250
Deferred Cash Consideration Business Acquisition SCUF \| (Level 3)
Liabilities:
Liabilities	$ 954	$ 1,250

Fair Value Measurement - Summary of Financial Liabilities that Measured at Fair Value (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2022	May 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Convertible Promissory Note
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investment fair value		$ 1.0
Investment maturity date		Apr. 30, 2023
Contingent Consideration Business Acquisition SCUF
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities			$ 1.0	$ 1.3
Contractual Amount \| Contingent Consideration Business Acquisition SCUF
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities			$ 0.3	0.3
Tax Return Filing Adjustment \| Contingent Consideration Business Acquisition SCUF
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities				$ 1.0
Tax Return Filing Adjustment \| Contingent Consideration Business Acquisition SCUF \| Scenario Forecast
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Liabilities	$ 1.0

Derivative Financial Instruments - Additional Information (Detail)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) Derivative	Sep. 30, 2021 USD ($)	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		$ 0
Foreign Currency Forward Contracts \| Not Designated as Hedging Instrument
Derivative Instruments Gain Loss [Line Items]
Notional principal amount	32,400,000		32,400,000		$ 48,600,000
Fair value gains (losses) recognized in other (expense) income	$ 1,500,000	$ 400,000	$ 4,100,000	$ 500,000
Derivative, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Other Nonoperating Income Expense	Other Nonoperating Income Expense	Other Nonoperating Income Expense	Other Nonoperating Income Expense
Minimum \| Foreign Currency Forward Contracts \| Not Designated as Hedging Instrument
Derivative Instruments Gain Loss [Line Items]
Derivative maturity term			2 months
Maximum [Member] \| Foreign Currency Forward Contracts \| Not Designated as Hedging Instrument
Derivative Instruments Gain Loss [Line Items]
Derivative maturity term			4 months

Business Combinations - Additional Information (Details) - IDisplay Technology - USD ($) $ in Thousands		3 Months Ended	9 Months Ended	12 Months Ended
	Jan. 01, 2022	Sep. 30, 2022	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Percentage of equity interest acquired	51.00%	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%
Increased goodwill	$ 1,000
Decreased identifiable intangible assets	1,100
Deferred Liabilities	100
Inventory	300
Fair value of identifiable intangible assets net tangible assets and liabilities acquired	33,000
Deferred tax liability	4,561
Acquisition-related costs		$ 100	$ 700	$ 600
Gamer and Creator Peripherals
Business Acquisition [Line Items]
Fair value of identifiable intangible assets net tangible assets and liabilities acquired	29,300
Gaming Components and Systems
Business Acquisition [Line Items]
Fair value of identifiable intangible assets net tangible assets and liabilities acquired	$ 3,700
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	Sep. 30, 2022	Dec. 31, 2021
Business Acquisition [Line Items]
Goodwill		$ 346,302	$ 317,054
IDisplay Technology
Business Acquisition [Line Items]
Cash	$ 2,330
Accounts receivable	3,382
Inventories	2,772
Prepaid and other assets	424
Operating lease right-of-use asset	360
Property and equipment	277
Identifiable intangible assets	34,200
Goodwill	32,987
Total assets acquired	76,732
Accounts payable	(5,106)
Deferred tax liabilities	(4,561)
Accrued liabilities	(731)
Operating lease liabilities	(360)
Total liabilities assumed	(10,758)
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]
Valuation	$ 34,200
Patent Portfolio
Business Acquisition [Line Items]
Valuation	$ 5,100
Useful Life	6 years
Supplier Relationship
Business Acquisition [Line Items]
Valuation	$ 6,800
Useful Life	6 years
Developed Technology
Business Acquisition [Line Items]
Valuation	$ 22,300
Useful Life	6 years

Goodwill and Intangible Assets - Summary of Changes in Carrying Amount of Goodwill by Reportable Segment (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Goodwill [Line Items]
Balance	$ 317,054
Addition from iDisplay Acquisition	31,970
Measurement period adjustments	1,017
Effect of foreign currency exchange rates	(3,739)
Balance	346,302
Gaming Components and Systems
Goodwill [Line Items]
Balance	145,310
Addition from iDisplay Acquisition	3,485
Measurement period adjustments	235
Effect of foreign currency exchange rates	(157)
Balance	148,873
Gamer and Creator Peripherals
Goodwill [Line Items]
Balance	171,744
Addition from iDisplay Acquisition	28,485
Measurement period adjustments	782
Effect of foreign currency exchange rates	(3,582)
Balance	$ 197,429

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Goodwill and Intangible Assets - Summary of Intangible Assets, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Total finite-life intangibles, Gross Carrying Amount	$ 338,816	$ 315,319
Total finite-life intangibles, Accumulated Amortization	150,103	125,163
Total finite-life intangibles, Net Carrying Amount	188,713	190,156
Total intangible assets, Gross Carrying Amount	374,359	350,872
Total intangible assets, Net Carrying Amount	224,256	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	113	123
Developed Technology
Total finite-life intangibles, Gross Carrying Amount	53,986	32,086
Total finite-life intangibles, Accumulated Amortization	21,821	14,922
Total finite-life intangibles, Net Carrying Amount	32,165	17,164
Trade Name
Total finite-life intangibles, Gross Carrying Amount	29,339	30,665
Total finite-life intangibles, Accumulated Amortization	6,253	4,942
Total finite-life intangibles, Net Carrying Amount	23,086	25,723
Customer Relationships
Total finite-life intangibles, Gross Carrying Amount	218,527	218,566
Total finite-life intangibles, Accumulated Amortization	111,405	94,910
Total finite-life intangibles, Net Carrying Amount	107,122	123,656
Patents
Total finite-life intangibles, Gross Carrying Amount	31,042	31,481
Total finite-life intangibles, Accumulated Amortization	9,884	8,196
Total finite-life intangibles, Net Carrying Amount	21,158	23,285
Noncompete Agreements
Total finite-life intangibles, Gross Carrying Amount		2,521
Total finite-life intangibles, Accumulated Amortization		2,193
Total finite-life intangibles, Net Carrying Amount		$ 328
Supplier Relationship
Total finite-life intangibles, Gross Carrying Amount	5,922
Total finite-life intangibles, Accumulated Amortization	740
Total finite-life intangibles, Net Carrying Amount	$ 5,182

Goodwill and Intangible Assets - Schedule of Estimated Future Amortization Expense of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]
Remainder of 2022	$ 9,670
2023	37,561
2024	36,110
2025	35,814
2026	32,454
Thereafter	37,104
Total finite-life intangibles, Net Carrying Amount	$ 188,713	$ 190,156

Balance Sheet Components - Schedule of Components of Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Balance Sheet Related Disclosures [Line Items]
Cash	$ 57,275	$ 62,415
Restricted cash	4,176	2,734
Restricted cash, noncurrent	231	231
Total cash and restricted cash	61,682	65,380	$ 76,329	$ 133,568
Accounts receivable from customers	131,340	291,816
Due from factor	25,599
Allowance for doubtful accounts	(628)	(529)
Accounts receivable, net	156,311	291,287
Raw materials	51,726	62,110
Work in progress	9,975	4,931
Finished goods	188,241	231,274
Inventories	249,942	298,315
Total property and equipment	59,918	45,364
Less: Accumulated depreciation and amortization	(33,208)	(28,545)
Property and equipment, net	26,710	16,819
Right-of-use assets	43,095	51,387
Deferred tax asset	20,093	12,737
Other	7,160	7,684
Other assets	70,348	71,808
Accrued reserves for customer incentive programs	52,151	66,733
Accrued reserves for sales return	26,989	37,166
Income tax payable	13,902	6,316
Accrued freight expenses	11,931	18,296
Accrued payroll and related expense	10,280	20,526
Operating lease liabilities, current	7,690	9,457
Contract liabilities	3,406	6,663
Other	31,821	40,717
Other liabilities and accrued expenses	158,170	205,874
Operating lease liabilities, noncurrent	44,574	51,153
Other	3,222	2,718
Other liabilities, noncurrent	47,796	53,871
Manufacturing Equipment
Balance Sheet Related Disclosures [Line Items]
Total property and equipment	27,342	26,094
Computer Equipment, Software and Office Equipment
Balance Sheet Related Disclosures [Line Items]
Total property and equipment	11,757	9,407
Furniture and Fixtures
Balance Sheet Related Disclosures [Line Items]
Total property and equipment	4,884	5,154
Leasehold Improvements
Balance Sheet Related Disclosures [Line Items]
Total property and equipment	$ 15,935	$ 4,709

Balance Sheet Components - Additional Information (Details) $ in Thousands	3 Months Ended
	Sep. 30, 2022 USD ($) Customer	Dec. 31, 2021 USD ($) Customer
Concentration Risk [Line Items]
Receivables sold	$ 66,300
Cash proceeds received	40,600
Due from factor	25,599
Inventory Exchanges
Concentration Risk [Line Items]
Sales and purchases of inventories in prepaid inventories	500	$ 5,000
Sales and purchases of inventories in accrued liabilities	$ 600	$ 5,400
Accounts Receivable \| Credit Concentration Risk
Concentration Risk [Line Items]
Number of customers \| Customer	1	2
Due from factor	$ 25,600
Due from factor, percentage	16.40%

Debt - Summary of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Total debt	$ 245,000
Debt discount and issuance cost, net of amortization	(1,293)	$ (1,099)
Total debt	243,707	247,651
Less: debt maturing within one year	4,655	4,753
Long-term debt	239,052	242,898
Term Loan
Debt Instrument [Line Items]
Total debt	245,000	248,750
Total debt	$ 243,700	$ 247,700

- Definition

Amount, excluding unamortized premium (discount) and debt issuance cost, of long-term debt. Excludes lease obligation.

+ References + Details

Debt - Summary of Debt (Parenthetical) (Details)	9 Months Ended
Debt - Summary of Debt (Parenthetical) (Details)	Sep. 30, 2022
Term Loan
Debt Instrument [Line Items]
Debt instrument, maturity date	2026-09

Debt - Additional Information (Details)			1 Months Ended					3 Months Ended		9 Months Ended
Debt - Additional Information (Details)	Jun. 30, 2022	Sep. 03, 2021 USD ($)	Mar. 31, 2019 USD ($)	Oct. 31, 2018	Mar. 31, 2018 USD ($)	Aug. 31, 2017 USD ($)	Mar. 31, 2017 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2023	Mar. 31, 2023	Dec. 31, 2021 USD ($)
Debt Instrument [Line Items]
Repayments of debt										$ 3,750,000	$ 326,974,000
Loss on debt extinguishment											4,868,000
Borrowing from line of credit										626,000,000
Carrying value of term loan								$ 243,707,000		243,707,000				$ 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											78,300,000
Repayments of debt											248,500,000
Loss on debt extinguishment									$ 4,107,000		$ 4,904,000
Effective interest rate									5.70%		5.40%
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				0
Revolving Credit Facility Under Credit Agreement \| Minimum \| Scenario Forecast
Debt Instrument [Line Items]
Consolidated interest coverage ratio												3.00
Revolving Credit Facility Under Credit Agreement \| Maximum [Member] \| Scenario Forecast
Debt Instrument [Line Items]
Consolidated total net leverage ratio													3.50
Consolidated interest coverage ratio												3.50
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%	0.50%
Revolving Credit Facility Under Credit Agreement \| BSBY \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate	1.25%
Revolving Credit Facility Under Credit Agreement \| BSBY \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate	2.25%
Revolving Credit Facility Under Credit Agreement \| One-Month BSBY
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 BSBY \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate	0.25%
Revolving Credit Facility Under Credit Agreement \| One-Month BSBY \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate	1.25%
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								243,700,000		243,700,000				$ 247,700,000
Term Loan \| (Level 2)
Debt Instrument [Line Items]
Estimated fair value of term loan								$ 243,200,000		$ 243,200,000
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%	0.50%
Term Loan \| BSBY \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate	1.25%
Term Loan \| BSBY \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate	2.25%
Term Loan \| One-Month BSBY
Debt Instrument [Line Items]
Debt instrument, variable rate	1.00%
Debt instrument, maturity period of variable rate basis	1 month
Term Loan \| One-Month BSBY \| Minimum
Debt Instrument [Line Items]
Debt instrument, variable rate	0.25%
Term Loan \| One-Month BSBY \| Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, variable rate	1.25%
Credit Agreement
Debt Instrument [Line Items]
Effective interest rate								3.80%		2.50%
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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Debt Instrument [Line Items]
Loss on debt extinguishment				$ 4,868
Other	$ 14	$ 90	$ 87	276
Total interest expense recognized	2,734	7,202	5,689	16,656
First Lien Term Loan
Debt Instrument [Line Items]
Contractual interest expense for term loan		2,399		9,818
Amortization of debt discount and issuance cost		291		1,343
Loss on debt extinguishment		4,107		4,904
Credit Agreement, Term Loan
Debt Instrument [Line Items]
Contractual interest expense for term loan	2,129	286	4,364	286
Revolving Credit Facility Under Credit Agreement
Debt Instrument [Line Items]
Contractual interest expense for term loan	489		964
Credit Agreement
Debt Instrument [Line Items]
Amortization of debt discount and issuance cost	$ 102	$ 29	$ 274	$ 29

Debt - Summary of Estimated Future Principal Payments under Total Long-term Debt (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Debt Disclosure [Abstract]
Remainder of 2022	$ 1,250
2023	6,875
2024	12,500
2025	12,500
2026	211,875
Total debt	$ 245,000

Commitments and Contingencies - Schedule of Changes in Warranty Obligations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Commitments And Contingencies Disclosure [Abstract]
Beginning of the period	$ 4,765	$ 5,749	$ 5,655	$ 5,865
Warranty provision related to products shipped	244	1,690	2,709	5,223
Deductions for warranty claims processed	(1,449)	(1,678)	(4,804)	(5,327)
End of period	$ 3,560	$ 5,761	$ 3,560	$ 5,761

Commitments and Contingencies - Schedule of Long-Term Non-Cancelable Purchase Commitment (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Commitments And Contingencies Disclosure [Abstract]
Remainder of 2022	$ 563
2023	2,417
2024	2,417
2025	328
Total	$ 5,725

Commitments and Contingencies - Additional Information (Details)	9 Months Ended
	Sep. 30, 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	$ 0	$ 500,000
Line of credit facility, current borrowing capacity	$ 0
Loss contingency, claims settled, number \| Claim	0

Stockholders' Equity - Additional Information (Details) - $ / shares	Sep. 30, 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

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock-based compensation expense, net of amounts capitalized

^[1]

$ 5,643

$ 5,812

$ 16,881

$ 13,656

Income tax benefits related to stock-based compensation expense

123

832

493

5,987

Cost of Revenue

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock-based compensation expense, net of amounts capitalized

369

282

1,034

756

Sales, General and Administrative

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock-based compensation expense, net of amounts capitalized

4,505

4,889

13,518

11,061

Product Development

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Stock-based compensation expense, net of amounts capitalized

$ 769

$ 641

$ 2,329

$ 1,839

[1]

(1)

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

Equity Incentive Plans and Stock-Based Compensation - Summary of Total Unrecognized Stock-Based Compensation Expense and Remaining Period (Detail) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($)
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total unrecognized stock-based compensation expense	$ 52,775
Stock Options
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Stock Options	$ 24,702
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	$ 27,773
Remaining weighted average period (In years)	3 years
ESPP
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
RSUs	$ 300
Remaining weighted average period (In years)	3 months

Equity Incentive Plans and Stock-Based Compensation - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Intrinsic value of options exercised	$ 0.4	$ 8.8	$ 4.4	$ 62.4
RSUs
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Total fair value stock units vested	$ 1.1	$ 0.8	$ 4.0	$ 0.8

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Numerator
Net income (loss)	$ (5,945)	$ 1,777	$ (61,064)	$ 76,245
Less: Net income attributable to noncontrolling interests	266		33
Net income (loss) attributable to Corsair Gaming, Inc.	(6,211)	1,777	(61,097)	76,245
Change in redemption value of redeemable noncontrolling interests	(2,690)		(12,330)
Net income (loss) attributable to common stockholders of Corsair Gaming, Inc.	$ (8,901)	$ 1,777	$ (73,427)	$ 76,245
Weighted-average common shares outstanding:
Basic	95,858	93,918	95,537	92,894
Effect of dilutive securities		6,123		7,222
Total diluted weighted-average shares outstanding	95,858	100,041	95,537	100,116
Net income (loss) per share attributable to common stockholders of Corsair Gaming, Inc.:
Basic	$ 0.09	$ 0.02	$ (0.77)	$ 0.82
Diluted	$ 0.09	$ 0.02	$ (0.77)	$ 0.76
Anti-dilutive potential common shares	11,241	1,226	10,941	792

Income Taxes - Schedule of Income Before Income Taxes, Income Tax Expense and Effective Income Tax Rates (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income (loss) before income taxes	$ (12,060)	$ 2,151	$ (72,326)	$ 92,099
Income tax benefit (expense)	$ 6,115	$ (374)	$ 11,262	$ (15,854)
Effective tax rate	50.70%	17.40%	15.60%	17.20%

- 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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 20
-Section 25
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=126941158&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 https://asc.fasb.org/extlink&oid=126901519&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 https://asc.fasb.org/extlink&oid=126953954&loc=SL114868664-224227

Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(8))
-URI https://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
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-05(b)(2))
-URI https://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
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-URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
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-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-04(15))
-URI https://asc.fasb.org/extlink&oid=120399700&loc=SL114874048-224260

+ 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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Effective income tax rate	50.70%	17.40%	15.60%	17.20%
One-time tax expense related to remeasurement of U.K. deferred tax liabilities				$ 1.4
Unrealized tax benefits	$ 3.8		$ 3.8		$ 3.8

Segment and Geographic Information - Additional Information (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2022 Customer	Sep. 30, 2021 Customer	Sep. 30, 2022 Segment Customer Country	Sep. 30, 2021 Customer
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	2	1	2	1
Geographic Concentration Risk \| Consolidated Net Revenue \| United States
Segment Reporting Information [Line Items]
Percentage of revenue from sales to customers	44.70%	41.40%	44.50%	37.30%
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%	10.00%	10.00%
Number of single countries representing more than ten percent threshold \| Country			0

Segment and Geographic Information - Summary of Financial Information for Each Reportable Segment (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 311,769	$ 391,121	$ 976,368	$ 1,393,438
Total gross profit	71,560	101,362	198,775	392,041
Gamer and Creator Peripherals
Segment Reporting Information [Line Items]
Net revenue	96,848	139,260	319,985	470,329
Total gross profit	31,790	48,580	85,405	172,080
Gaming Components and Systems
Segment Reporting Information [Line Items]
Net revenue	214,921	251,861	656,383	923,109
Total gross profit	$ 39,770	$ 52,782	$ 113,370	$ 219,961

- Definition

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

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

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Segment and Geographic Information - Summary of Net Revenue By Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Net revenue	$ 311,769	$ 391,121	$ 976,368	$ 1,393,438
Americas
Segment Reporting Information [Line Items]
Net revenue	164,378	189,330	506,835	606,788
Europe and Middle East
Segment Reporting Information [Line Items]
Net revenue	91,092	147,703	284,521	560,905
Asia Pacific
Segment Reporting Information [Line Items]
Net revenue	$ 56,299	$ 54,088	$ 185,012	$ 225,745

- Definition

+ References

+ Details

Redeemable Noncontrolling Interests - Additional Information (Details) - USD ($) $ in Thousands	Jan. 01, 2022	Sep. 30, 2022
Redeemable Noncontrolling Interest [Line Items]
Fair value of redeemable noncontrolling interest amount		$ 17,522
Nonredeemable noncontrolling interests		$ 10,792
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
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	9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2022 USD ($)
Income Amounts Attributable To Noncontrolling Interest Disclosures [Abstract]
Balance at beginning of period	$ 26,749
Redeemable noncontrolling interests in iDisplay estimated at fair value at Closing Date	17,522	$ 17,522
Net income attributable to redeemable noncontrolling interests	157	19
Other comprehensive loss attributable to redeemable noncontrolling interests	(314)	(589)
Dividend paid to the redeemable noncontrolling interests	(1,305)	(1,305)
Change in redemption value of redeemable noncontrolling interests (1)	2,690	12,330
Balance at end of period (2)	$ 27,977	$ 27,977

Redeemable Noncontrolling Interests - Schedule of Changes in Redeemable Noncontrolling Interests (Parenthetical) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2022
Income Amounts Attributable To Noncontrolling Interest Disclosures [Abstract]
Increase in redemption value over the carrying value	$ 2,690	$ 12,330