Corsair Gaming, Inc. (NASDAQ:CRSR) Q2 2023 Earnings Conference Call August 3, 2023 5:00 PM ET

Company Participants

Ronald Van Veen - Vice President, Finance and IR

Andy Paul - Chief Executive Officer

Michael Potter - Chief Financial Officer

Conference Call Participants

Aaron Lee - Macquarie

Drew Crum - Stifel

Doug Creutz - TD Cowen

Jack Butler - Barclays

Operator

Good afternoon, and welcome to the Corsair Gaming’s Second Quarter 2023 Earnings Conference Call. As a reminder, today’s call is being recorded and your participation implies consent to such recording. At this time, all participants are in listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]

With that, I would now like to turn the call over to Ronald Van Veen, Corsair’s Vice President of Finance and Investor Relations. Thank you. Sir, please begin.

Ronald Van Veen

Thank you. Good afternoon, everyone. And thank you for joining us for Corsair’s financial results conference call for the second quarter ended June 30, 2023. On the call today, we have our Corsair’s CEO; Andy Paul; and CFO, Michael Potter. Andy will review highlights from the quarter. Michael will then review the financials and our outlook. We will then have time for any questions.

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

Our actual results may differ materially from our projections due to a number of risks and uncertainties. The risks and uncertainties and forward-looking statements are subject to are described in our earnings release and on our SEC filings. Note that until our 10-Q has been filed, these numbers are preliminary.

Today’s remarks will also include references to non-GAAP financial measures. Additional information, including reconciliation between non-GAAP financial information to the GAAP financial information is provided in the press release we issued after the market close today.

With that, I will now turn the call over to Andy.

Andy Paul

Thank you, Ronald, and welcome everyone to our earnings call. The key takeaways for Q2 are; first, our revenue exceeded expectations for Q2, growing nearly 15% on a year-over-year basis. Consumer spending on gaming hardware is holding at significantly higher levels than pre-pandemic. We believe that even with a challenging macro level environments, we are seeing increased activity due to new gamers that came into the mix in 2020, now starting to refresh and upgrade their gear.