CRSR - Earnings call transcript Q2 2021

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Operator

Good morning, and welcome to the Corsair Gaming Second Quarter 2021 Earnings Conference Call.

As a reminder, today's call is being recorded, and your participation implies consent to such recording. [Operator Instructions]. With that, I would now like to turn the call over to Ronald Veen, Corsair's Vice President of Finance and Investor Relations. Thank you, sir, please begin.

Ronald Veen

you. Thank and call joining ending for XXXX. everyone, financial for June you conference results the thank morning, us for Corsair's XX, Good second quarter

the Andy Corsair On we Michael CFO, Potter. CEO, today, call Paul; have

therefore begin, future This including may results company statements. include of we regarding the related statements are portion call, allow a our the provide Before disclaimer forward-looking to to forward-looking forward-looking of Q&A statements. call, me the and expected

number are a risks from forward-looking and our our remarks Our The to include Today's projections and and earnings will actual filings. results differ risks references to uncertainties. non-GAAP may statements materially due are described release of uncertainties measures. that financial also SEC subject other to in

replay call GAAP our I provided the numbers conference second Investor via our QX proceed With Additional be information, including are also reconciliation now with would then highlights, before XX-Q the Michael available This and for review between everyone the will business the take information, the Andy. press financials is in financial non-GAAP that release. XXXX to preliminary. to financial remind like file, that, Relations until ir.corsair.com. will will on is Andy call Q&A. of webcast turn we website through quarter over begin a at to to through you I'll Corsair's information

Andrew Paul

our delivered quarter performance, million we QX million, XX% call. $XXX is best overall, Well, as profit where pleased revenue XX% our our earnings ever. welcome to 'XX gross you, to QX and second $XXX well Thank Ronald, I'm very growth which as with growth to net of

category, issues enthusiastic semiconductor component port every entertainment as to delays. such graphics gamers market, their even as gaming key travel gear, and in We of build highlight and to as home the shortages, results cards strength Our despite the of in logistics for shortages the upgrade growth PCs fundamentals experienced the back underlying open purchase outside began and our as up. well business, continue of as

compared now and to the are We We marketing rate $X.X of revenue and strong run R&D, which our therefore to our are expand XXXX billion, our in heavily in infrastructure. invest business. momentum billion at a continuing to resources $X speaks

excited which the received far which so an are recent launch the over first products year, from astounding of new innovation. We positive community. just our response by We've is of pace extremely has an camera, overwhelmingly creator XX this launched

of called a and features a a Camera It Our Elgato Facecam frames and for XXXXp creators outputs second new which specifically course, content is, uncompressed XX higher to designed has significantly quality streamers video similar at many than webcam. is standard DLSR features contrast, stored camera, be balance, also software And a in all zoom, standard lens multilayer camera. settings in a unlike webcam. with coated white controls high-end Sony Facecam those the that can again, cetera. camera, et a

more headsets. specifically conviction will impeccable that proprietary recent introduced that our full headset, Virtuoso Series in built and want upgrade their also radiators growth Bluetooth as continues and tower allows NPD clarity gaming maximum our keyboard improving gamers support time the case, XXXX for which to new gear wireless this skills, Slipstream multiple our is with RGB mice year-over-year gaming. designed better gaming be games to peripherals can We evidence now data faster data growing market, offering playing incredible they further an well We showing the that ultimate and for connection. and show is than includes as to low-latency as XT, gaming PC flagship spend to sounds our believe performance, for so

per have is we're market collect the market of pre-COVID The about data. a PC evolution. similar average for the to year gaming at observe peripherals XX% to continue annual where for detailed Europe, an U.S. growth rate Western running in stage We gaming that able in and gear early at been

this lockdown, XX%. to rate game numbers increase the with approximately software. of market growth XXXX, or the in the in increased new These higher to Now in growth gamers than are either video substantially

due that market what them, So believe seeing people start growth so is to that's get after rates an in at better the playing bought the then why the penetration look the XX% gaming gamers gaming years, and stage cycle, a want peripheral, yet at we such gear. most are to games refresh high we And still premium have to gaming which headsets, is with for learn purchased the is of PC good is games low in because to in happening other market. we to X is while If the at hardware only and early play U.S. roughly widely XX% they last specialized low, base. come which the the the is those

tend of to months The where which So to to peripheral in did as cards up rig. to more video XXXX learning mice gamers games large actually enthusiast electronics Peripherals, their Creative cards PCs In been first and of people NPD. X laptops phenomenal, the of base graphics elevated improves, a build PC purchase is next to immersive. months, to numbers as homes, of to and top in that gaming be and we gaming High-end high-performance be as that includes setup, the new gamers upgrade the waiting that wings in keyboards. belief well categories the difficult leader market believe continue consumers clearly the market that build the and buy on consumer in peripherals new very according one step lighting. last gaming make last be situation we time were skill buy a the the in a for a fastest-growing has more tends But number gaming gaming XX spent there to PCs. their Headsets to better, should game 'XX, ready the establish our gaming and is in and early play higher the of capture

Our year, Wave gained has launched microphone, we quickly. market which share last significant

we broadcasting, have from use the and Our parties has for standard apps can now Stream Deck Deck. Stream that now several home become third

outlook your financial now of for $XXX million the unchanged billion year. operating adjusted the of in our The I'll continued to range $XXX EBITDA revenue range growth the over of total million now and quarter. you full range our to the support. Turning turn time the in to adjusted year guidance the to results million the million. in $XXX to and $XXX QX, for discuss remains $X.X Thank billion, call from of Michael XXXX XX.X%; to to for $X.X XX.X% for with of representing income

Michael Potter

and good Andy, everyone. Thanks, morning,

$XXX.X increased The segment quarter, During of million, net product The products. QX segment basis XXXX, an net net in The contributed which increase and million second profit million. and QX of to sales $XXX.X at quarter of and XX.X%, $XXX.X logistic remained QX XX.X% the revenue primarily second QX the SCUF primarily segment an gamer the categories, with contributed as profit XXXX, quarter by The products The buy an ocean creator over primarily quarter, compared second flat $XXX.X an driven XXXX, creator and strong build of $XXX.X XXXX million XXXX, this a QX profit PCs. Gross Gross in console XXXX. gamer was points million flat XXX million margin by is driven driven provided particularly categories, increase of from of increases Of an XX.X%. revenue across continue in in in XX.X% net gamer gross of growth delivered our $XXX.X the second branded revenue million, QX to all record. from peripheral gaming by we in Gross positive strong XX.X%, XXXX. by increase segment the significant impacts margin by mix towards million an was revenues. and from in across revenue, was million QX $XXX.X increased million in periods. million XX.X% provided QX of segment XXXX. The to profit $XX.X components $XX.X consumers shift of from peripheral total increase revenue, second from offset in creator same of systems memory peripheral gamer $XXX.X and XX.X% including gaming was revenue costs, revenue $XX.X in XX.X% $XXX.X increase during increase by net creator of driven million during quarter, product increase freight. the peripheral growth all

in primarily segment XX.X% systems margin expansion, mix also as to to compared overall $XX.X components a contributed profit a million, of continued XXXX. QX overall largest primarily peripherals an freight Gross and total due $XX.X million and QX story the gross increase XX.X% segment growing shift gamer as contributed in an XXXX. our total QX profit from We gross gaming as Gaming gross to profit fastest compared increase to XXXX, highest QX the in great XX.X% creator costs. market. $X.X as of XX.X% for driven The components periods. and margin from was remains systems revenue margin This QX XXXX in decreased XXXX QX and see profit our XX.X% same XXXX in sits to formula in XX.X% in in by million of in and continue of

quarter. was profit Memory segment XX.X% Our the margin in for this

million were or QX Second increase outbound increase compared SG&A costs $XX.X due quarter in an to XX.X% due driven to XXXX, a revenue, being to and $XX.X freight $XX.X an expenses an increase increase primarily to an personnel-related in of expenses. related by company public expenses increase in million million, in

XXXX million expenses Adjusted from were $XX.X product income of or products in million decrease second million compared XXXX, number was second the as the market. an personnel-related increase of $XX.X an of in million, QX primarily in in XX.X% quarter QX of XXXX. an million, million $X.X increase increase we on QX XXXX Operating a by income million driven of XXXX. bringing the $XX.X was operating Second increasing in of million, continue $XX.X $XX.X development $X.X million quarter from $XX.X to quarter to in $X.X focus expenses to an

QX income to or was as per income of share net or in net share $XX.X quarter Second million XXXX. compared million $X.XX per $X.XX dilated diluted $XX.X

diluted of EBITDA was net margin share to $X.XX in per of million Second share or XX.X%, of or compared EBITDA XXXX million increase an $XX.X $X.XX points an or basis XXX million of income for was decrease QX XXXX. XXXX, for diluted $XX.X to a net adjusted for in $XX.X quarter income Adjusted as resulting compared X% QX $X adjusted QX $XX.X million, per million year-over-year. adjusted

sheet. our Turning now to balance

an now opportunity with performance We additional future. strengthen $XX and to sufficient at QX in strong further by used In convert debt further leverage accelerate to from and XXXX, we value generated continue sheet. face and $XX.X to in growth financial resulting to operations balance million, We into reduce our the million an our of it $XXX.X net this debt in while a net growing did million, ratio at leaving $XXX million X.X. quickly resources cash

conditions reduce business growth significantly. to debt We carrying for We're to in expect our the and of subject to to any reduce need existing debt looking continue XXXX, also additional cost capital.

options revolving our $XXX.X due the June earnings same our facility, interest million million. cash, rate first the modeling slightly under additional a of restricted a we cash, XXXX, of to expense As quarter and and details $XXX deductibility exception debt in with GAAP XX, our underlying of of effective excluding reduced now remain total had long-term lower million further capacity of we tax $XX.X credit outlook discussed exercised. as The call,

ease, I'll them. repeat For

margins gross year at a continue expect public our larger to to to support well revenue company We operating year-over-year to costs. increase a scale to and and expense full higher slightly level, innovate improve the need as of

paydown, $X.X no of million interest quarter. Assuming further now debt expense expect we per approximately

$XX made in have income conditions noted, year is and debt and an grew XXXX, As million down the appeal and million for of and continued approximately progress if could performance vary time; million XXXX. for approximately timing we reduction The business. expecting to the growth $XX and adjusted at we expect strategic We XXXX to XXX need in not and effective million QX gain, already of million subject million shares XX% our shares. pay debt to $XXX full to any down of and tax our paid we've capital. diluted XXX initiatives on and in additional uncertain outlook. we're in win pleased average trial rules, what This the $X approximately for a business of Overall, total our XXXX, are growth recognition to subject is judge of adjusted of depending additional amount the in QX EBITDA in an this revenue operating of patent a any, XXXX, for outstanding XX% weighted rate with is of

our end In of expect the exception normal, is upcoming the much XXXX. With high QX, premium normal content, than a better the channel we Prime with the of a now. at number shipping the stock much with And of higher QX, environment. rest for season, products continue holiday and were Day promotional we with expect coupled to expenses of semiconductor that more

to Finally, for memory are Operator, the for call existing that near With normally loyal, strong prices to on and from chip memory new please the margins demand are expected we up open prices down counterbalance down. and we're that, happy These while now our Q&A? the you started QX, will line end customers. open have lowers questions. our moving moving products, of the somewhat

Operator

[Operator Instructions].

first Crum with Drew Stifel. comes from The question

Drew Crum

address Okay. give quarter you're in the share Wondering the willing revenue added whether phasing second and during lost concerning EBITDA guidance performance your then to the adjusted any or if quarter, you period. you half? separately, can by in competitive And

Andrew Paul

get is but, components. with I Well, think product did in question, now most even. start competitors products we trying probably right did It the in to first type, by think now very the our the peripherals, we part on what the you us that situation have from what's -- well we general, as know, In but QX. gathered, second of in enough Asia roughly is varies quite in expensive containers. stayed point I pretty And let's are and we well in the actually of

as know, have, And so also shortages. we you semiconductor --

lower we've over words, typically on with initial products. low the other share been the a and our we very on ASP surge what player, year last In market ASP So categories we're entry-level high tend lot of share high year is so market an have entry-level categories. was faced and not to

And so of some helping more products, now, bit. to But content with market our that semiconductor share. little get changed the high a dynamics starting we're higher ASP, it's supply

Michael Potter

into -- tend guidance. a well. annual the And But holiday like second lower as take half you and the guidance. one -- we Prime quarter, be asked the of come as normally, give normally, second the of give half of of we summer call, terms by sort In stronger of and the you you seasonality. the such guidance for question, account example, quarter don't Day We things into timing is season. normally, Last the the and quarters pointed similar go you quarter of to ramp first than to the Like, for to as the when tends year, seasonality. for normal out -- have

Operator

comes The question with Lu next from Barclays. Mario

Mario Lu

performed curious highlighting? product since own certain know is numbers, XQ expectations. weaknesses lines I So how Any strengths below but little just full bit it street, the yes, or guided that came you within guys to worth relative year revenue in a only your for

Andrew Paul

Yes.

most we some think is shortages, components talked I the that components. of through our that was not we thing going semiconductor about just that's related and those obvious buy, to

gaming extreme So PCs. for $X,XXX, as for actually high-end most been there's graphics huge difficult been know, $X,XXX, them the It's quite building a shortage $X,XXX probably cards, to are difficult these that you it's so gamers build. been CPUs of and

we've waiting actually wings these build, we to think start so amount available. And of cards huge become as got the to in people a

into Amy, and cetera, AMD and, so was to that we in Dell, certain lot segment. into retail and So products PC extent, not Amazon allocated et the much the a saw manufacturers, a more happen product video finished what

to So starting that's now change.

business, side some peripherals had last The are same is headwinds not is NPD point moment, year. than PCs. the at so our being the And quite So bigger components as that available, the a components few in showing that of we peripheral is build pretty the strong. still size, with all the data cases, market people

So quarters, to continues streaming be now lapping COVID very we're and strong.

you going gives a of on. what's that hopefully, So indication slight

Operator

with comes Credit next from Suisse. question Cabral Matt The

Matthew Cabral

Yes.

called factors, logistics margin. we to at looking several both of well of revenue about think quarter gross constraints there's supply have both I'm the quantify impact way as if as further the as You in guys times any those just wondering already. and out issues kind down of

Andrew Paul

it's if we math now mean, graphics what holding exactly to difficult because, have I we market biggest PCs. had tens back done the the would and an of stopping probably really Yes. viewer component is to cards the exact thought give But burden number we of of think we certainly, full the millions. supply. through in right and were But to it's sort our shipped see supply gone the lack competitors issue I have numerically for that's and haven't

we're is that are really situation expensive And fully not where issue to we highest or a our second yet deal very high The at products then products with. end freight have in stock. ASP

introduce offset the as adjust and But freight numbers. competitors. meaningful new we're products, it's costs our able pricing of obviously get of we Some because, to some

Matthew Cabral

go follow-up, EBITDA I And understand over trying profitability and, been don't obviously, through was that? business? then help guess, factors business. high how to the digits, M&A the guess, is if I underneath profitability look the I past And changed. just normalized back steady-state guess, think to demand surge I a I prior I baseline, it. than if big what I and the versus the more to year. it for just if in in that think to Got is have mid- single bit There's pre-COVID been us It guys higher a last above to could. like guess, think for you just XX% have months, before little XX trying about at understand COVID if the I XXXX. I'm

Andrew Paul

Yes.

we I the perhaps last with to we've always in think year we the little low of said tail bit a teens mid-teens. to had and Obviously, wind ramping that up be get has hefty wanted a the business. expand mode of now, bigger. because faster could we marketing much the R&D business in terms a we're got fairly expansion than possibly Right at so and market

we've -- but that how nowhere exact you to in tell business the in not that we're I'll sort a an near we try that mind, range manage is target of somewhere So we're mature business. got

Michael Potter

today, achievable. QX, strong now, We and particularly and products gamer just that seeing QX, to a as and going we and be not in So hadn't that's shift But pre-COVID level in the more our need QX note we same finished above higher-margin that think did quarter, out that QX I'll in grow to talked the towards our creator what would putting high-margin over that, was which keep more that investing right peripherals, but help. levels, yet. business good, the we business about in which is are we time. overall be margins continued Also, the a lifting and we

a be should tailwind forward. for going that good us margins So for

Operator

question Davidson. D.A. Tom Forte comes from with next The

Thomas Forte

Great.

So four I one time. I'll a They're go quick. have questions. at

pressure the more, on it cost give one demand? pressure logistics. little about How guess, Is So is should I first think this cost? air from of Can I the you is think because granularity? -- a the it? how -- should about into leaning I Or

Andrew Paul

most So quarter, short just on the year it's because freight. lot cost so The think were right was I more recent of of last containers. That's supply. we a air

levels some for I for that what Otherwise, Xx Xx until extraordinarily certainly going probably container consumer -- probably up down, situation. to to the electronics dies companies. a of somewhat expect surge But and the starting be it at the expect temporary containers was time. be it's years cost ago, So we'll moment. X now high of whole continue is to But that's we

Thomas Forte

Very All right. Yes. Andy. helpful,

then you logistics, your should taking So when interest from second think cost the ability across portfolio? think your is, and the price about about we then question pressure how your in

Andrew Paul

Yes.

right? all the same is So the depends And time on frame, question, this our true that's a with good and competitors.

are in pricing. short-term increases there adjust cost that and adjust see going price we into it's are difficult -- see there, the If go obviously temporary, cost if we MSRP stay fundamental, to are retail we to points So that increases a on that basis.

we're wholesale huge and But far, we we But MSRP. So then bigger are retailers the obviously, made any containers haven't lot in of haven't bit because And our competitors for a changes Asia our us looking paying changes. far, at it's buying a from of any and themselves. directly in mixture -- haven't fact, of so a most so in that. made

I to year, this see that sense think right it couple is until very and on quarters the have are what almost for the prices But of down if so end we're natural to the by elevated, would going is. weather the level certainly not we general next and of container the before. the now come

Thomas Forte

Good. All right.

two. So last

from vantage Fortnite, anxiety about when we accelerating. but tough on your point, towards consumer see self-broadcasting, really using There's self-broadcasting products like this broadcast we think So they investors to them play among as of this our shifts, shift a that. help gaming, things secular when secular lot for compares

that So with that, is guess, what the Corsair? then trend do accelerating? are you that for implications agree I And assertion

Andrew Paul

live week, as call streaming the Well, announced self-broadcasting, look, camera. right? We the our that's or the down, biggest it doubled biggest first last camera is that you TAM But part part whatever. of and we've say. the self-broadcasting, clearly just We of

that, we before. in $X to literally jumped into billion been close market that never TAM And we've so probably

So is footprint. market continuing not that our increased only but grow, we've to

parts gets home market some self-broadcasting doing bit Now people the of at there's as probably little confused you realize, calls. a with that Zoom

by that, that market certainly down. going be dying majority some think we of But games into the content actually and products bought and the vast that than products will creators, rather that clearly, are home we get sell offices. so And

cameras of content office. were there's the those what strong sharing to the streaming a secular for their and showing see from a that and to tailwind think -- little headwind shift creators is people home bit with a buying a going microphones we're and I So content streaming and from people and

Thomas Forte

right. All

fifth so me now a you made question. have Andy, So

the rest So get relative portfolio? about we my last, gross think how to should your in the camera the I margin of profit versus before

Michael Potter

a is camera The brand-new product.

channel, So much product right it's a higher it's line creative than usually, little corporate the average. in achieve peripherals, bit it's when more the a new But will a when than margin other with into the little it's lower you're normalized. it so ramping

Thomas Forte

last Excellent. question. All right,

So you your a has little this how on talked day but important for about it, performance historically, been Corsair? that And year? is sales an Day Prime

Andrew Paul

Tom. Sorry, Can that? the... missed repeat you I

Thomas Forte

Yes.

Sorry.

Andrew Paul

Prime yes, So Day, yes.

Thomas Forte

on performance that Prime your sales is Historically, important Day. is How day for you?

Andrew Paul

Yes.

So it can of not great Prime mostly be. up Day products And you know. for was a light line that This pretty year sales Prime on were probably normally because stock. actually us, as the a for Amazon, Day for lot we'd

didn't situation. actually participate the competitors same Prime a really actually, in we in Day. of lot our And So are heavily

ended less normally this year than up being it is. So important it

way. that it put Let's

Operator

The question comes Macquarie. from Nollen next Tim with

Shantnu Kumar

is around for Tim. on This Shan My the question cycle. is product

gaming? cycle So well back et we cetera? as anything know on streaming, more the talked in but on live general a the half outside release you've streaming of products Any anything bit, on like this year XX comments far. as so I usage launched about

Andrew Paul

Yes.

We've new to think and categories in. keep a excel they up adding to good be going more have I categories, momentum. all that we And pretty we're on as pace. built come refreshed

-- our accelerate. X. next first camera, And If doubling or more So we're clearly, anything, to terms those I you'll change. it new over We've wouldn't things year categories you'll see just see look, so pace or may that introduced the down of we've more microphones. of in expect on,

think of that few refresh mode. and So the biggest present all we market, have areas not yes, is points we in in we're segments were that And a in. the out the component peripheral in we growth price still of the own streaming, want that in market. still to Most we're

So still can some we more footprint increase sizing. TAM that our

Michael Potter

of just the so new towards there's right, the been year. at more gaming forever. some in going out, come a have memory expect controllers there's memory, point. been that's And I new console would the Scott would in obviously we've think, consoles memory you lead some standard end newer that for that particularly And generally, have

to something So continually that see existing TAM. our you as and portfolio expect in But it's innovating our well. really, would increasing for

for we product That's that's not just came a a in that well new has liked use well little own microphone different little well. for Deck, you We Wave And version and form and are Elgato for is because and the together. the newer lets that applications use advantage seems came a better to it up more great even XLR want discovering in us software people out. but very our which microphone but to other bit market, have of is put take selling XLR your Stream more bit that people factor as use with it Deck Stream a and easier that uses just streaming, for very

Operator

The next question comes from Doug Creutz with Cowen.

Douglas Creutz

respect games. whether actions Can now to about China in And there A recently? lot about over of sort in percent and the video on remind you're us anything business how China with big market business is? you your government's of going your in a of right in the concern of seeing terms what's of words

Andrew Paul

what about. you're related Not talking to

is effect. China that, something the X%, our seen business. of haven't like We X%,

Michael Potter

gaming by more Yes. peripherals than gaming China directly, heavy not We're the in the We're it's peripherals. very and in more and going. components how DIY that's impacted market

and of So Europe wouldn't be big parts that from terms in pronouncement sell China Asia. the government. a culture gaming in other -- been obviously compared by never game to software, and U.S. of so market don't and type we affected as we has

Operator

Sachs. from question Hall Rod next Goldman The with Instructions]. [Operator comes

Roderick Hall

inventory what hard are supplies me I'm time just short, with. putting I a wanted you're power on to out of of like inventory having just you're but doing Corsair It on things looks populating or where research levels, check like to stock, products. what shelves types just maybe curious

Andrew Paul

Yes, that's question. a good

got a of because time. out power flagship just that but the more high-end low the supplies our of on back high-end building position. finally them reflection obviously sure, stock We've stock keyboard very that's stock, For shortages. We a reasonable some difficulty in demand, for it's were increased now the and in longest products. are semiconductor in of Typically,

are We high-end our there. where on be getting we're we'd but headsets, like to not

I difference a we market inventory. really steady increase make there's So certainly, in products yet for at But a share. not targets in would the say that

Roderick Hall

Michael, are you going to say something?

Michael Potter

Andy question, to No. I answered the something. want add didn't so

Roderick Hall

Yes.

physical I a to inventories. we to to thing? see that seems you I wanted I'm the persist think quick by on holiday for time sort you would shelves we are thing I channels channels move headsets, same Okay. Is in where but expect you? the you through there. the do then? keeping think Or enough having it And do the expected did then just think in right they're do it hardest -- -- Buy, the this Amazon like or just curious search, see and you'll check. have like what stock end with inventory will where as of of on the Or year season, product that into light? Best you

Andrew Paul

No.

to I back gradually good think get into going we're shape.

Walmart, more. So -- or question, X targets Buy places for first products or And specifically, in how or every a to inventory stores got there's depending in and Best some popular single the stores, Target -- we on we've SKU. few targets every have have like store X obviously

X, it certain a to able So of find days target, of them for oftentimes, cause month. if stop we're out you be in but in to only a stock, of instead -- will to days then that X there's there may example, number able be and way

about way that's So the it. we think

something a searching problem. stock, that's If out of real is Buy and you're Best on

-- second I talking and of -- the part about question mean, Go -- So sorry. was ahead. the

Sorry.

Roderick Hall

a to for have think Will this will might problem the holiday the stock then? by be there in you continue do inventory channel? you When the in Or season? be you

Andrew Paul

Well, I last the hope spent lines. and the depends I the certainly ramping so. obviously, the we've on mean, supply supply, demand it but year up

And certainly, expect yes, I so on okay. we're on looks should be demand so. seeing like, it would what I based what mean,

Operator

remarks. I closing the conference Andy concludes for would turn to any Paul to the back over like This question-and-answer session.

Andrew Paul

Yes. Thanks.

be and then, forecast, actually business is the we were that I we a where gaming, forefront XXXX centered back realize expected look, So our at at XXXX. and projected massively looked as I stated before, and around to we eSports market current or streaming. pre-IPO our levels of went in and thinking what recently we're growing

So clearly, focused and remain game, and We today. it. fun produce the to gamers to thanks play giving the tools they and the joining has to for spending content best Thanks call committed your interest streamers on in a best new doing market need accelerated the have and the us level. Corsair, for

Operator

conference today's concludes call. This

pleasant You you may and disconnect participating your lines. for have day. a Thank

Corsair Gaming (CRSR) 3 Aug 212021 Q2 Earnings call transcript