Corsair Gaming, Inc. (‘Corsair’) provides and innovates high-performance products for gamers and digital creators, such as streamers, vloggers and broadcasters globally.
The company’s gaming products help digital athletes, from casual gamers to committed professionals, perform at their peak across personal computer (‘PC’), sim racing, and console platforms, and the company’s streaming products enable creators, particularly streamers, to produce studio-quality content to share with friends or to...
Corsair Gaming, Inc. (‘Corsair’) provides and innovates high-performance products for gamers and digital creators, such as streamers, vloggers and broadcasters globally.
The company’s gaming products help digital athletes, from casual gamers to committed professionals, perform at their peak across personal computer (‘PC’), sim racing, and console platforms, and the company’s streaming products enable creators, particularly streamers, to produce studio-quality content to share with friends or to broadcast to millions of fans. The company’s PC components products offer its customers multiple options to build their customized gaming and workstation desktop PCs. The company designs and sells high-performance gaming and streaming peripherals, components, and systems to enthusiasts globally.
The company’s solution is the most complete suite of products among its major competitors and addresses the most critical components for both game performance and streaming. The company’s product offering is enhanced by its two proprietary software platforms: iCUE for gamers and the Elgato streaming suite for content creators, including its Stream Deck control software. These software platforms provide unified, intuitive performance, aesthetic control, and customization across their respective product families. The company also offers digital services to enhance the customer experience by integrating esports, Elgato's marketplace, customer care, and extended warranty into its product offerings.
The company groups its products into two categories (operating segments):
Gamer and Creator Peripherals: This includes the company’s high-performance gaming keyboards, mice, headsets, controllers, and streaming products, which include capture cards, Stream Decks, microphones, and audio interfaces, its Facecam streaming cameras, studio accessories, sim racing products, and gaming furniture, among others.
Gaming Components and Systems: This includes the company’s high-performance power supply units (‘PSUs’), cooling solutions, computer cases, and dynamic random access memory (‘DRAM’) modules, as well as high-end prebuilt and custom-built gaming PCs and laptops, and gaming monitors, among others.
The company’s products are sold to end users worldwide through its retail channel or its direct-to-consumer channel. In its retail channel, the company distributes its products either directly to the retailer, such as Amazon and Best Buy, or through distributors.
The company can continue to grow by offering market-leading products to gamers, creators, and sim racing enthusiasts, expanding the breadth of its product suite to meet the needs of its customers, continuing to invest in marketing, product innovation, and sales, and selectively pursuing accretive acquisitions, such as the ten acquisitions it has completed since 2018, including the recent Fanatec acquisition in September 2024. The Fanatec sim racing product line fully complements the company’s gaming PCs, gaming and streaming peripherals, and monitors, and is expected to expand its business in these markets.
Growth Strategy
The key components of the company’s strategy include advancing as the global leader in high-performance gaming and creator products; continuing to develop innovative, market-leading gaming and streaming products; expanding into new products and services that grow its market opportunity; leveraging its software platforms to sell more products to existing customers; expanding the company’s industry partnerships with other parts of the gaming ecosystem, including other hardware manufacturers and game publishers; strengthening relationships with end users by increasing direct-to-consumer sales, while continuing to strengthen relationships with existing retail channel partners, through whom the company sells most of its products; continuing to grow market share globally; leveraging the company’s brand, software integration, and superior product quality to pursue market share in the higher-end categories of all its product segments; and selectively pursuing complementary acquisitions.
Solutions
The company designs its high-performance products to address the needs of gamers and creators. To help the company’s customers perform at their peak, whether in game or on camera, it has developed the industry’s most complete integrated ecosystem of gamer and creator peripherals and gaming components and systems. The company has a diversified product portfolio, with 34 primary product lines.
Gamer and Creator Peripherals: The company’s gamer and creator peripherals seek to provide the fastest, highest fidelity, and most seamless interface between digital athletes and their game, and content creators and their viewers. The company’s solutions include its high-performance gaming keyboards, mice, headsets, controllers, and streaming products, which include capture cards, Stream Decks, microphones, and audio interfaces, its Facecam streaming cameras, studio accessories, sim racing products, and gaming furniture, among others.
Gaming Components and Systems: The company develops and sells high-performance gaming components to help gamers and creators build their own custom gaming PCs. It also develops and sells complete high-performance gaming PCs and laptops using its gaming components. The company’s prebuilt systems and user-built systems are designed to deliver maximum performance, while also providing its customers the aesthetic design and customizability they demand. The company’s solutions include its PSUs, cooling solutions, computer cases, SSD and DRAM modules, as well as high-end prebuilt and custom-built gaming PCs and laptops, and gaming monitors, among others.
PC Gaming Software: The company’s product offering is enhanced by its two proprietary software platforms: iCUE for gamers and the Elgato streaming suite for content creators. These software platforms provide unified, intuitive performance, and aesthetic control and customization across their respective product families.
The company’s iCUE software platform powers the full range of its products from a single intuitive interface, providing advanced performance tuning, user customization, and system monitoring. By enabling its customers to fine-tune the response of its gaming products to maximize performance and match their personal preferences and styles of play, the iCUE provides a distinct competitive advantage.
Product Development
The company’s product development expenses were $67.5 million for the year ended December 31, 2024.
Marketing
The company’s marketing efforts are designed to enhance the Corsair, Elgato, Origin, SCUF, Drop, and Fanatec brand names, to help it acquire new customers and to increase sales from its existing customers. The company has structured its marketing organization to achieve both product- and geography-specific coverage. In addition, the company’s marketing personnel regularly meet with other key industry suppliers, such as NVIDIA, Intel, AMD, and game publishers, in order to ensure that its product development efforts appropriately address the needs of their new products, and also to discuss trends and changes in the computer technology market.
The company builds awareness of its products and brand through advertising campaigns, public relations efforts, marketing development funds, and other financial incentives provided to retailers to promote its products, end-user rebates, online social media outreach, online and in-store promotions and merchandising, its website, and other efforts. The company also invests in sponsorships and partnerships with esports events, leagues, teams, and streaming influencers.
The company benefits from an active computer gaming community whose members communicate with each other through various online social media, such as blogs and social networks, including Facebook, Instagram, TikTok, Twitter, and YouTube. The company actively participates in this community, enabling it to communicate directly with its end customers. Finally, the company regularly publishes technical and editorial content through various online and print channels and participates in industry trade shows, gaming competitions, and other consumer-facing events that provide it with the opportunity to demonstrate its products.
Sales and Distribution
The company’s products are purchased by gaming enthusiasts and content creators worldwide through either its e-retail and retail channel or its direct-to-consumer channel. In the company’s e-retail and retail channel, it distributes its products either directly to resellers or through key distributors. While the company historically has sold its products directly to consumers through its website, following its acquisitions of Origin, SCUF, Drop, and Fanatec, the volume of direct-to-consumer sales has increased, as all of these companies primarily generated sales through direct-to-consumer channels.
The company has structured its sales organization based on location, into four major geographic regions—Europe (including the Middle East and North Africa), North America, Latin America, and Asia Pacific—and it has local language-speaking sales representatives in the countries that generate significant amounts of its net revenue. The company ships its products directly to retailers and distributors, and, through distributors, supplies its products to thousands of smaller online and brick-and-mortar retailers, as well as to specialist and gaming system integrators and value-added resellers. A small portion of the company’s net revenue is from sales directly to original equipment manufacturers that manufacture gaming PCs.
In 2024, e-retailer Amazon accounted for more than 10% of the company’s net revenue, at 30.9%.
Production and Operations
The company operates a facility in Taiwan where it assembles, tests, packages, and ultimately supplies nearly all of its DRAM modules and a significant portion of its customized gaming controllers, liquid cooling products, and prebuilt gaming systems. The company also assembles, tests, packages, and ultimately supplies its custom-built PCs and its customized gaming controllers and fully built PCs from its U.S. facility in Atlanta, Georgia. All of the other products the company sells are produced at factories operated by third parties located in Asia. In addition, the company outsources storage and shipping to several third-party logistics providers around the world, which allows it to reduce order fulfillment time, reduce shipping costs, and improve inventory flexibility.
Seasonality
The company has experienced and expects to continue to experience seasonal fluctuations in sales due to the buying patterns of its customers and spending patterns of gamers. The company’s net revenue has generally been lower in the first and second calendar quarters due to lower consumer demand following the fourth quarter holiday season, and because of the decline in sales that typically occurs in anticipation of the introduction of new or enhanced CPUs, GPUs, and other computer hardware products. Further, its net revenue tends to be higher in the third and fourth calendar quarters due to seasonal sales, such as ‘Amazon Prime Day’, ‘Black Friday’, and ‘Cyber Monday’, as well as ‘Singles Day’ in China, as retailers tend to make purchases in advance of these sales. The company’s sales also tend to be higher in the fourth quarter due to the introduction of new consoles and high-profile games in connection with the holiday season. As a consequence of seasonality, its net revenue for the second calendar quarter is generally the lowest of the year, followed by the first calendar quarter (year ended December 31, 2024).
History
The company was founded in 1994. The company was incorporated in 1994. The company was formerly known as Corsair Components (Cayman) Ltd and changed its name to Corsair Gaming, Inc. in 2018.