Asetek reported third-quarter revenue of $12.2 million compared with $20.5 million in the same period of 2023. Revenue for the first nine months was $37.1 million compared with $59.7 million in the same period of 2023. The change in both periods reflects fewer shipments of liquid cooling products, partly offset by an increase in shipments of SimSports products. Gross margin was 36% for the third quarter and 42% for the first nine months, compared with 46% and 45% in the respective periods of 2023. The change in gross margin reflects the write-off of certain inventory that was adversely affected by a supply chain quality issue that has since been rectified.

"Our SimSports business experiences strong traction with new acclaimed products, new strategically important distribution agreements and a clear pathway to millions of new simulation gamers in the console market. We are also taking action to stabilize the Liquid Cooling business and position for future growth with a lower cost base and a wider offering addressing the changing market preferences," says André S. Eriksen, the CEO of Asetek.

Asetek SimSports today announces a brand-new partnership with Designed for Xbox which will see the manufacturer of sim-racing hardware enter the games console market for the first time. The Designed for Xbox collaboration will see Asetek SimSports' new and select existing products made console compatible, ensuring seamless connectivity and delivering an authentic racing experience to users of the Xbox Series X|S and Xbox One around the world.

Inspired by real-life racing cars, Asetek SimSports' products are designed and crafted with performance and immersion in mind. The company's long history of innovation, engineering excellence, and real-life racing experience and gaming expertise combine to make the ultimate steering wheels, wheelbases, and pedals for racing enthusiasts and gamers alike. Xbox console users will now join PC gamers in being able to get their hands on the latest sim-racing technology from Asetek SimSports, with the first Xbox Series X|S and Xbox One compatible products coming out second half of 2025.

Asetek SimSports - the manufacturer of sim-racing hardware based in Aalborg, Denmark - is today proud to launch a state-of-the-art product, the Invicta Steering Wheel. Inspired by real-life Formula racing cars, the Invicta Steering Wheel has been designed and crafted with supreme performance and immersion in mind. Asetek's long history of innovation, engineering excellence, and real-life racing experience and gaming expertise combine to make the ultimate steering wheel.

The Invicta Steering Wheel offers maximum rigidity from a CNC-milled aluminium chassis and carbon fiber front plate, all while keeping the design sleek and lightweight. Indeed, the Invicta Steering Wheel weighs in at just 1.5 kilograms for an unmatched weight to performance scale in this category. Light and strong, the Invicta Steering Wheel ensures users never miss a grain of detail on the racetrack and can take full advantage of the feedback from their simulator.

Asetek announce the appointment of Maja Sand-Grimnitz as vice president (VP) Brand and Digital, and Henrik Lindskou-Mouritsen as VP Global Sales. They bring extensive experience from commercialization of gaming hardware and international sales to drive deployment of Asetek's acclaimed sim racing products and build on the leading position within Liquid Cooling.

"I am pleased to have both Henrik and Maja join Asetek, further strengthening our commercial focus and enabling increased efficiencies by consolidating the management team in Denmark," said André Sloth Eriksen the CEO of Asetek. "We are positioning for significant growth within SimSports and a changing Liquid Cooling market with more direct end-user dialogue over time and potential to capture material revenue synergies across our two business segments under a strong Asetek brand."

Asetek reported fourth-quarter revenue of $16.6 million, an increase of 75% from the same period of 2022. Revenue for the year amounted to $76.3 million, an increase of 51% from 2022. The growth in both periods mainly reflects increased shipments of liquid cooling products. Gross margin was 47% in the fourth quarter and 45% for 2023, compared with 41% in each of the same periods of 2022. The gross margin increase reflects a richer product mix, reduced costs and favorable exchange rates for both periods.

"2023 represented a material rebound for our Liquid Cooling business and expansion of the SimSports product program to wide acclaim from the sim racing community. I'm proud of delivering our second-best year ever measured by revenue and profit, reflecting strong demand for our products," said André Sloth Eriksen the CEO of Asetek. "We remain confident of the long-term potential in our markets, but at the same time we continue to experience low near-term revenue visibility. However, we are adapting and have aligned our strategic priorities accordingly, and our focus in 2024 is to execute on these."

Asetek sim racing gear innovator and Micro Center today announced that Micro Center will sell a broad offering of Asetek SimSports sim racing products in its physical stores across the U.S., and through its online store microcenter.com. A variety of Asetek SimSports wheels, wheelbases, pedals, and accessories are now available through Micro Center, including the recently announced Tony Kanaan Sim Racing products, and premium Invicta and high-performance high-value Forte offerings.

"In addition to the recently unveiled Asetek SimSports Tony Kanaan Sim Racing Bundle exclusively available through Micro Center, we are delighted to offer retail availability of Asetek SimSports across Micro Center's 26 stores as well as from their online store," said André Sloth Eriksen, CEO and founder of Asetek. "Through this agreement, we are making it easier for sim racers in North America to purchase Asetek SimSports gear and experience the feel of real racecar racing."