Corsair Gaming, Inc. reported fourth‑quarter 2025 results on February 12, 2026, posting adjusted earnings per share of $0.43—an 58% beat over the consensus estimate of $0.27—and revenue of $436.86 million, up 6% year‑over‑year and above the consensus estimate of $421.99 million.
The company’s memory business drove the earnings beat, growing 24% year‑over‑year, while the Gaming Components and Systems segment expanded 11%. Compared with the same quarter in 2024, Q4 2025 non‑GAAP EPS rose from $0.23 to $0.43 and revenue increased from $413.6 million to $436.86 million, underscoring the strength of Corsair’s core product lines.
Gross profit reached $144.6 million, a 34% year‑over‑year increase, and adjusted EBITDA climbed 62% to $53.6 million. The margin expansion was driven by higher mix of high‑margin memory products and disciplined cost control amid a constrained semiconductor market, allowing the company to maintain profitability despite supply‑chain pressures.
Management guided for full‑year 2026 revenue of $1.33 billion to $1.47 billion and non‑GAAP EPS of $0.58 to $0.74, while Q1 2026 revenue was projected at $335 million to $365 million and non‑GAAP EPS at $0.18 to $0.22. The cautious outlook reflects ongoing semiconductor shortages and a potential 5% revenue decline at the midpoint, even as the Gamer and Creator Peripherals segment is expected to grow double‑digit.
The board authorized a share‑repurchase program of up to $50 million of outstanding common stock, effective immediately and without an expiration date, providing additional flexibility for capital allocation and shareholder returns.
Market reaction was mixed: the stock closed down 7.66% on the day of the announcement but recovered 1.21% in after‑hours trading. Investors weighed the strong earnings beat against the cautious guidance and persistent supply‑chain headwinds.
"We closed 2025 with strong execution across the business and meaningful progress on the strategy we have been building over the past year. In the fourth quarter, revenue came in as expected, while profitability exceeded the upper range of our forecast. We delivered strong gross margin expansion and meaningful operating leverage despite a very dynamic operating environment," said CEO Thi La.
"Successful new product launches, smart inventory management, coupled with our supply chain flexibility, enabled us to navigate a memory‑constrained market, shifting trade regulations and tariffs to deliver 62% growth in Q4 2025 adjusted non‑GAAP EBITDA (855% growth in Q4 2025 GAAP net income), significantly outperforming the 6% year‑over‑year revenue growth," added Thi La.
"We ended 2025 in a strong financial position. For the full year, revenue increased 12% to approximately $1.47 billion. Gross profit increased 30% to approximately $426 million, and Adjusted EBITDA increased more than 80% to approximately $101 million and exceeded the high end of our guidance," said CFO Michael G. Potter.
"This reflects our view that Corsair shares represent an attractive use of capital, alongside continued investment in both organic and acquisition‑led growth," added Potter.
The earnings beat, combined with a cautious yet realistic guidance and a sizable share‑repurchase program, signals that Corsair is executing its strategy effectively while remaining mindful of macro‑economic and supply‑chain challenges. Investors will likely view the results as a positive indicator of operational resilience, but the guidance suggests a need for continued vigilance in the coming quarters.
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