Corsair Gaming, Inc. (CRSR) · Nov 5, 2026 · Earnings
Beat — Non-GAAP EPS $0.13 vs ~$0.12 consensus; revenue $367.0M vs ~$336.6M
Corsair earnings beat Q3 expectations on a memory-led surge, while management raised full-year revenue, EBITDA and EPS guidance.
Corsair is trying to reduce its dependence on cyclical DIY PC components by expanding higher-margin peripherals, Sim Racing, creator gear and AI workstations; the Trak Racer acquisition is part of that broader platform strategy.
The quarter materially cleared the bar. Revenue of $367.0 million was roughly 9% above the published consensus of $336.6 million, while non-GAAP EPS of $0.13 also exceeded the approximately $0.12 expectation. The company simultaneously beat the high end of its own revenue, EBITDA and EPS ranges.
| Metric | Q3 2026 | Q3 2025 | Consensus / prior guide |
|---|---|---|---|
| Revenue (Financial Highlights) | $367.0M (+6%) | $345.8M | ~$336.6M consensus |
| Adjusted EBITDA (Financial Highlights) | $22.4M (+38%) | $16.2M | $18.0M–$21.0M guide |
| Non-GAAP EPS (Financial Highlights) | $0.13 | $0.06 | $0.09–$0.12 guide; ~$0.12 consensus |
| FY revenue outlook (Full-Year Outlook) | $1.456B–$1.486B | — | $1.40B–$1.47B prior |
| FY adjusted EBITDA outlook (Full-Year Outlook) | $127M–$131M | — | $121M–$131M prior |
Memory carried the result, but the mix is doing important work. Gaming Components and Systems revenue rose 7%, with memory revenue up 43% to $167.3 million, offsetting continued weakness in DIY PC builds. This is strong execution and share capture, but part of the gain reflects market-wide pricing and inventory dynamics rather than a broad-based PC recovery.
The diversification story is advancing, although peripherals have not yet fully delivered. Gamer and Creator Peripherals grew only 3% because product launches slipped into Q4 and logistics issues created backlog, but the hub transition is complete and management expects double-digit segment growth in Q4. Trak Racer integration is expected to begin contributing in Q4, which gives the new Sim Racing strategy an initial operating test. 〔0〕
The raise is real, but near-term profitability will be less clean than Q3. Full-year revenue midpoint increased by about $36 million, EBITDA midpoint by about $3 million and EPS midpoint by about $0.02. However, Q4 adjusted EBITDA is expected to decline year over year because memory gross margin is forecast at 18%–20%, versus an unusually high 35% last year. That makes the outlook a genuine upgrade to the business trajectory, but not a straight-line margin expansion story.
Bottom line: Corsair delivered a broad earnings beat and raised its full-year outlook, strengthening the case that its portfolio diversification is working. The main qualification is that Q4 profit growth will rely more on peripherals and acquisitions as memory-margin tailwinds fade.
GTA 6 launch and holiday-season Q4 demand, November 19
A buy-side analyst on every ticker — it reads every public company's filing the instant it drops and decodes it into plain English.
A buy-side analyst on every ticker — the whole market decoded the second it moves, before it's a headline. Free gives you a taste. Pro takes the cap off and opens the full read on every company.
by Signing in NOW, claim your FREE 14-day Pro trial!