Corsair Gaming, Inc. (NASDAQ:CRSR) Q4 2022 Earnings Conference Call February 9, 2023 5:00 PM ET

Company Participants

Ronald Van Veen - Vice President of Finance & Investor Relations

Andy Paul - Founder & Chief Executive Officer

Michael Potter - Chief Financial Officer

Conference Call Participants

Drew Crum - Stifel

Doug Creutz - Cowen & Company

Mario Lu - Barclays

Operator

Good afternoon and welcome to the Corsair Gaming Fourth Quarter and Full Year 2022 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 will now 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 fourth quarter and full year ended December 31, 2022. On the call today, we have Corsair’s I, Andy Paul; and Michael Potter. Andy will review highlights from the full year fourth quarter 2022. 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. Note that until our 10-K 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’ll now turn the call over to Andy.

Andy Paul

Thank you, Ronald and welcome, everyone, to our Q4 and full year 2022 earnings call. We are pleased with our fourth quarter results following a challenging 2022 year, impacted by the Russian-Ukrainian conflict, high freight costs and a large channel inventory adjustment. Q4 2022 holiday sales were strong for most of the gaming and streaming categories that we participate in. And our overall retail sales out from the channel was substantially above pre-pandemic 2019 levels, putting us on a positive trajectory for the first half of '23. There are a number of notable financial highlights from Q4 and 2022.