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Corsair Games (NASDAQ: CRSR) and 3% more shortly after its fourth quarter financial report, where it beat expectations above and below and pointed to strong holiday sales.
Earnings were down about 22%, but this he was still better than expected in a difficult quarter. Adjusted revenue fell to $20.7M from full-year revenue of $34.7M.
Earnings before interest, taxes, depreciation and amortization came in at $32M, down from $39.5M a year earlier.
Although the numbers were down year-over-year, they ended up surpassing the first quarter, Chief Financial Officer Michael Potter said, adding that shipping costs in Q4 fell more than 70% from the beginning of the year, and lead times for sales continued. control.
“Holiday sales for Q4 2022 were strong across all market segments in Europe and our total sales from the route were above pre-pandemic 2019,” said CEO Andy Paul. “We benefited from a significant increase in the Gaming market driven by new GPU and CPU launches from Nvidia, AMD and Intel in late 2022, expected to be released in Q1 2023.”
Revenue by segment: Players and peripherals manufacturers, $117.8M (down 33.4%); Sports equipment and systems, $280.9M (down 15.8%).
The company’s guidance is for full-year revenue of $1.35B-$1.55B (vs. consensus for $1.54B), adjusted operating expenses of $75M-$95M and EBITDA of $90M-$110M.
The conference call comes at 5pm ET.
