Filing Flows › Corsair Gaming (CRSR) › Q1 2025
Corsair Gaming (CRSR) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 7, 2025
Corsair Gaming (CRSR) reported revenue of $370M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -11% from the quarter before. Operating margin was -0.6%, net loss $10.3M (2.8% of revenue).
Corsair Gaming, Q1 2025: revenue $370M (+10% year over year), operating margin -0.6%, net loss $10.3M, operating cash flow $18.8M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $370M | -11% | +10% |
| Operating profit | −$2.3M | — | — |
| Net earnings | −$10.3M | — | — |
| Operating cash flow | $18.8M | -66% | — |
| Free cash flow | $15.7M | -71% | — |
What changed
Revenue was $369.8M in Q1 2025, up 10% year over year and down 11% from the previous quarter. Gaming Components and Systems was the largest line at 70% of revenue. Gaming Components and Systems added $27.5M year over year (up 12%), 85% of the total change.
Gross margin was 27.7%, up 2.0 points from a year earlier. Operating costs exceeded revenue by $2.3M, an operating margin of -0.6%. Operating expenses grew 8% against revenue growth of 10%. The quarter ended with a net loss of $10.3M, after a profit of $2.7M the previous quarter. Net interest and other expense of $6.0M was the main reason.
Operating cash flow was $18.8M. Non-cash charges added back $3.4M of depreciation and $9.3M of share-based compensation. Working capital and other items added $16.4M. Capital expenditures of $3.1M left free cash flow of $15.7M.
Questions
What was Corsair Gaming's revenue in the first quarter 2025?
Corsair Gaming (CRSR) reported revenue of $370M for the first quarter 2025 (Q1 2025), +10% from a year earlier and -11% from the quarter before.
Was Corsair Gaming profitable in the first quarter 2025?
Operating loss was $2.3M (-0.6% of revenue) and net loss $10.3M.
Source: Corsair Gaming 10-Q on SEC EDGAR.