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Corsair Gaming cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$16.7M in Q3 2026 · $114M over twelve months

Operating cash flow−$14.1M
Capital spending−$2.6M
Free cash flow−$16.7M
Cash conversion cycle76 days

Analysis

In Q3 2026, Corsair Gaming generated −$14.1M of operating cash flow and spent $2.6M on capital projects, leaving free cash flow of −$16.7M. That is $24.6M more than in Q3 2025 (−$41.3M).

Over the twelve months to Sep 30, 2026, operating cash flow was $129M; the largest uses were other investing ($44.6M), capital spending ($14.3M), other financing ($11.3M); besides operations, cash came from shares issued ($11.6M); the cash balance rose by $70.2M.

Operating cash flow was −$14.1M against net income of −$2.4M. The largest differences: inventory −$105M, payables +$61.7M, accrued liabilities +$39.0M.

Its cash conversion cycle was 76 days (receivables 44 + inventory 104 − payables 72).

Free cash flow

Corsair Gaming: free cash flow by quarterCorsair Gaming: free cash flow by quarter$54.1MQ4 2024$15.7MQ1 2025$27.5MQ2 2025−$41.3MQ3 2025$32.9MQ4 2025$26.1MQ1 2026$72.1MQ2 2026−$16.7MQ3 2026
Operating cash flow less capital spending.
Corsair Gaming: operating cash flow against capital spendingCorsair Gaming: operating cash flow against capital spendingOperating cash flowCapital spending$55.6M$1.5MQ4 2024$18.8M$3.1MQ1 2025$30.2M$2.7MQ2 2025−$37.0M$4.3MQ3 2025$38.2M$5.2MQ4 2025$29.7M$3.7MQ1 2026$74.8M$2.8MQ2 2026−$14.1M$2.6MQ3 2026
Latest (Q3 2026): Operating cash flow −$14.1M, Capital spending $2.6M.

Capital allocation, year by year

Corsair Gaming: where the cash came from (up) and went (down), by fiscal yearCorsair Gaming: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow $20.2MFY2021: Net borrowing −$79.7MFY2021: Shares issued $14.9MFY2021: Capital spending −$11.0MFY2021: Acquisitions −$4.8M$35.1MFY2021FY2022: Operating cash flow $66.4MFY2022: Shares issued $88.7MFY2022: Capital spending −$26.3MFY2022: Acquisitions −$19.5M$155MFY2022FY2023: Operating cash flow $89.2MFY2023: Shares issued $7.4MFY2023: Capital spending −$12.8MFY2023: Acquisitions −$14.2M$96.6MFY2023FY2024: Operating cash flow $35.9MFY2024: Shares issued $5.4MFY2024: Capital spending −$9.8MFY2024: Acquisitions −$43.1M$41.3MFY2024FY2025: Operating cash flow $50.1MFY2025: Shares issued $5.6MFY2025: Capital spending −$15.4M$55.8MFY2025
Over these 5 years operating cash flow totalled $262M; the largest uses were acquisitions ($81.7M) and net borrowing ($79.7M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$135M
Debt$117M
Net cash$17.8M
Due within a year$6.2M

Corsair Gaming funds itself: free cash flow was $114M over the last twelve months, and $135M of cash and investments stands against $117M of debt ($6.2M due within a year, 21.5× covered by cash).

Corsair Gaming: debt maturities by year (FY2025)Corsair Gaming: debt maturities by year (FY2025)$6.2MYear 1$6.2MYear 2$6.2MYear 3$6.2MYear 4$96.9MYear 5
Principal due in each year as disclosed in the annual report, against $135M of cash and investments now.

Where the cash came from and went

Corsair Gaming: sources (+) and uses (−) of cash, Q3 2026Corsair Gaming: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$57.6MOther investing−$44.6MOperating cash flow−$14.1MShares issued$5.0MCapital spending−$2.6MNet borrowing (+) / repaid (−)−$1.6MExchange rates$484KTaxes on employees’ shares−$267K
Corsair Gaming: sources (+) and uses (−) of cash, TTM to Q3 2026Corsair Gaming: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$129MCash drawn (+) / kept (−)−$70.2MOther investing−$44.6MCapital spending−$14.3MShares issued$11.6MOther financing−$11.3MExchange rates$1.3MTaxes on employees’ shares−$1.1MPartners−$175K

From profit to cash

Corsair Gaming: net income to operating cash flow, Q3 2026Corsair Gaming: net income to operating cash flow, Q3 2026Net income−$2.4MDepreciation & amortization$3.8MStock-based pay$6.5MDeferred taxes$1.3MOther non-cash$107KReceivables−$29.5MInventory−$105MPayables$61.7MAccrued liabilities$39.0MPrepaid and other assets$1.2MOperating cash flow−$14.1M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 2026441047276
Q2 2026491177393
Q1 2026521097091
Q4 202545977270
Q3 2025491119269
Q2 2025571119771
Q1 202553907568
Q4 202444836067

Every quarter

QuarterOperating cash flowCapital spendingBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$14.1M−$2.6M—−$1.6M$5.0M$57.6M−$16.7M
Q2 2026$74.8M−$2.8M—−$1.6M$4.5M−$74.1M$72.1M
Q1 2026$29.7M−$3.7M−$5.0M−$1.6M$2.1M−$20.9M$26.1M
Q4 2025$38.2M−$5.2M——$150K−$32.8M$32.9M
Q3 2025−$37.0M−$4.3M—−$2.3M$2.1M$41.4M−$41.3M
Q2 2025$30.2M−$2.7M—−$24.0M$1K−$4.9M$27.5M
Q1 2025$18.8M−$3.1M—−$25.0M$3.4M$7.1M$15.7M
Q4 2024$55.6M−$1.5M—−$3.5M$267K−$48.0M$54.1M

Corsair Gaming: income statement and cash flow

Corsair Gaming, Q3 2026: revenue $367M (+6% year over year), operating margin -0.4%. The chart follows the revenue to costs, profit and cash.

Corsair Gaming: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.