CRSR Corsair Gaming, Inc.

Overview and Growth

Corsair Gaming, Inc. generated $1.47B of revenue in fiscal 2025, with net loss of $16.16M and an operating cash inflow of $50.12M. Revenue of $1.47B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Compared with $1.32B in fiscal 2024, revenue recorded a 11.9% year-over-year increase. On a per-share basis, diluted EPS was -$0.12, which connects the reported earnings outcome with the company’s diluted share count. Total assets stood at $1.25B, showing the scale of resources supporting revenue, earnings, liquidity, and financing. The revenue-to-assets relationship was 1.17x, showing the sales generated relative to the resources carried on the balance sheet.

Profitability

The first profit layer was $425.88M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 28.9% of revenue, quantifying the portion retained before operating expenses were recognized. The reported operating result was $2.08M, capturing profitability after direct costs and the operating expenses reflected in the statements. The operating result equaled 0.1% of revenue, placing the absolute operating-income figure in the context of the company’s sales base. After all below-operating-line items, the company recorded a net loss of $16.16M for the fiscal year. Measured against revenue, the bottom-line deficit represented 1.1% after all recognized items. The company reported a pretax loss of $12.15M, before the effect of income taxes. Measured against revenue, the pretax deficit represented 0.8%. The reported income-tax provision was $2.82M, the amount recognized between pretax income and the final net-income result. The net loss equaled 2.6% of period-end equity, showing the deficit relative to book capital. The loss-to-assets relationship was 1.3%, placing the bottom-line deficit against the company’s resource base.

Liquidity and Capital Structure

The company held $1.25B of assets against $608.03M of liabilities and $633.56M of equity, revealing how the asset base was financed. At period end, current assets of $665.46M compared with current liabilities of $430.94M, defining the company’s short-term resource position. At 1.54x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Reported cash and equivalents were $98.83M, separating immediately recognizable cash resources from the rest of the current-asset base. Measured only with cash and equivalents, coverage of current liabilities was 22.9%, excluding receivables and other current assets. Borrowings totaled $121.34M, adding a fixed financing obligation alongside the company’s equity capital. Against book equity, debt measured 0.19x, placing the company’s financial leverage in clear balance-sheet terms. The debt-to-assets relationship was 9.7%, comparing borrowing with the total asset balance. Liabilities represented 48.5% of total assets, quantifying the liability-funded share of the company’s resource base. The cash-to-assets relationship was 7.9%, comparing reported cash and equivalents with the full positive asset balance. Compared with $1.24B in fiscal 2024, the current asset base moved 1.5% and finished higher. Book equity was 4.8% higher than fiscal 2024 equity of $604.30M, showing how shareholder capital changed year over year.

Cash Flow and Earnings Quality

Operating activities produced a cash inflow of $50.12M, giving the cash-flow counterpart to the accrual-based profit measures reported for the year. Capital spending was $15.37M, absorbing part of the cash generated from operations before free cash flow. Capital spending absorbed 30.7% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $34.75M, leaving a positive amount after capital expenditures. Free cash flow represented 2.4% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 2.8%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.