Corsair Gaming was founded as Corsair Microsystems in 1994 originally selling cache modules before switching to DRAM after the incorporation of L2 cache in processors, since then Corsair has continued to expand its product lineup now offering a wide range of PC components and peripherals. In 2017 private equity firm EagleTree Capital acquired a majority stake of the company in a deal valued at $525 million. In recent years Corsair has been acquiring various gaming brands such as Elgato, ORIGIN PC, and SCUF Gaming, these acquisitions have likely left the company with significant loans to repay.
Corsair Gaming has recently filed an initial public offering with a target price of $100 million and will be treated as an emerging growth company. The company intends to list on the Nasdaq under the CRSR symbol. The IPO filing offers some insight into the financial position of Corsair however, many exact dollar values have been withheld in the public filing. Corsair Gaming has sold over 190 million products since 1998 with 85 million of those being sold in the last five years.
Corsair Gaming recorded revenue of $1.3 billion for 2020 with a gross margin of 24.2% and $31.3 million net income up from a loss of $26.7 million in 2019. The IPO lists some possible threats to the company including the reliance on Amazon who accounts for 26.8% of sales in 2020 and the dependence on just 10 customers who account for 52.4% of sales. Corsair also notes a target market of 524 million PC gamers of which 94 million spent over 1000 USD on their gaming PC systems.
Corsair also provided an interesting insight into who they consider to be their various competitors in various markets:
The IPO doesn't have an intended filling date and the $100 million listed in the offering may very well be a placeholder so we will likely see various changes in the coming weeks.
View at TechPowerUp Main Site
Corsair Gaming has recently filed an initial public offering with a target price of $100 million and will be treated as an emerging growth company. The company intends to list on the Nasdaq under the CRSR symbol. The IPO filing offers some insight into the financial position of Corsair however, many exact dollar values have been withheld in the public filing. Corsair Gaming has sold over 190 million products since 1998 with 85 million of those being sold in the last five years.
Corsair Gaming recorded revenue of $1.3 billion for 2020 with a gross margin of 24.2% and $31.3 million net income up from a loss of $26.7 million in 2019. The IPO lists some possible threats to the company including the reliance on Amazon who accounts for 26.8% of sales in 2020 and the dependence on just 10 customers who account for 52.4% of sales. Corsair also notes a target market of 524 million PC gamers of which 94 million spent over 1000 USD on their gaming PC systems.
Corsair also provided an interesting insight into who they consider to be their various competitors in various markets:
- Gaming keyboards & mice - Logitech, Razer
- Gaming headsets & audio products - Logitech, Razer, Kingston (HyperX)
- Gaming & creator streaming gear - Logitech, AVerMedia
- Gaming controllers - Microsoft, Logitech
- Power supplies, cooling solutions & computer cases - Cooler Master, NZXT, EVGA, Seasonic, Thermaltake
- Memory modules - G.Skill, Kingston (HyperX), Micron (Crucial)
- Prebuilt gaming computers & laptops - Dell (Alienware), HP (Omen), ASUS, Razer
- Custom gaming computers - iBuypower, Cyberpower
The IPO doesn't have an intended filling date and the $100 million listed in the offering may very well be a placeholder so we will likely see various changes in the coming weeks.
View at TechPowerUp Main Site
