Corsair Gaming, Inc. reported a net revenue of $345.8 million for the third quarter of 2025, marking a 13.7% increase from $304.2 million in the same period last year. For the nine months ending September 30, 2025, total revenue reached $1.036 billion, up 14.7% from $902.8 million in the prior year. The company's gross profit for the quarter was $93.1 million, resulting in a gross margin of 26.9%, an increase from 22.9% in Q3 2024. Despite the revenue growth, Corsair recorded a net loss of $10.4 million for the quarter, a significant improvement compared to a net loss of $51.6 million in Q3 2024.
The increase in revenue was driven by a 15.3% rise in the Gaming Components and Systems segment and a 10.5% increase in the Gamer and Creator Peripherals segment. The latter benefited from the integration of the Fanatec business, acquired in September 2024, which has expanded Corsair's offerings in the sim racing market. Operating expenses rose to $98.7 million for the quarter, up from $90.6 million a year earlier, primarily due to increased marketing, personnel, and distribution costs.
Operationally, Corsair's cash and restricted cash totaled $66.1 million as of September 30, 2025, down from $109.6 million at the end of 2024. The company generated $12.0 million in cash from operations during the first nine months of 2025, a turnaround from the $19.7 million cash used in operations in the same period of 2024. The company’s total debt stood at $122.9 million, with a principal balance of $123.4 million on its June 2030 Term Loan.
Looking ahead, Corsair anticipates continued growth driven by increasing gaming engagement and the introduction of new high-performance computing hardware. The company is also focused on mitigating potential impacts from global macroeconomic conditions, including trade tariffs and geopolitical tensions. Corsair's management remains optimistic about leveraging its expanded product offerings and market presence to enhance its competitive position in the gaming and digital creator markets.
About Corsair Gaming, Inc.
Corsair Gaming, Inc. designs and sells high-performance gaming and streaming peripherals, components, and systems for gamers and digital creators worldwide. Its product portfolio includes keyboards, mice, headsets, streaming equipment, gaming PCs, and accessories, supported by proprietary software platforms. The company leverages brand strength, innovation, and global distribution to serve the gaming, streaming, and esports markets, focusing on product quality, customization, and expanding market share through organic growth and acquisitions.
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