Corsair Gaming, Inc. (NASDAQ:CRSR) Q1 2023 Earnings Conference Call May 10, 2023 5:00 PM ET
Company Participants
Ronald Van Veen - Vice President of Finance and Investor Relations
Andy Paul - Chief Executive Officer
Michael Potter - Chief Financial Officer
Conference Call Participants
Eric Sheridan - Goldman Sachs
Drew Crum - Stifel, Nicolaus & Company.
Aaron Lee - Macquarie Group
Jack Butler - Barclays Bank Plc
Operator
Good afternoon, and welcome to the Corsair Gaming's First 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 a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]
With that, I'd now like to turn the call over to Ronald Van Veen, Corsair's Vice President of Finance and Investor Relations. Thank you, sir. You may begin.
Ronald Van Veen
Thank you. Good afternoon, everyone, and thank you for joining us for Corsair's financial results conference call for the first quarter ended March 31, 2023. On the call today, we have 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 that forward-looking statements are subject to are described in our earnings release and on our SEC filings.
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'll now turn the call over to Andy.
Andy Paul
Thank you, Ronald, and welcome, everyone, to our earnings call. We are pleased to be off to a strong start in 2023, with a 33% improvement in adjusted EBITDA compared to the year-ago period. We are also pleased to see that enthusiast-level consumers continue to build new gaming PCs at a rate significantly above pre-pandemic levels. Recent third-party data shows that Corsair continues to gain and hold market share positions in most of our categories of components used in those gaming builds.