Corsair Gaming, Inc. Q3 2026 Earnings Recap

Corsair shares fell 7.5% despite third-quarter results above the company’s guidance range, with the likely pressure coming from continued weakness in DIY components and a cautious outlook for AI workstations: a more meaningful revenue contribution is not expected until late 2027 and beyond. The call also emphasized that higher memory prices and shortages are weighing on parts of the business.

Key Takeaways

• Revenue was $367 million, up 6% year over year; adjusted EBITDA rose 38% to $22.4 million, and non-GAAP EPS was $0.13 versus $0.06 a year earlier.
• Gaming components and systems revenue grew 7%. Memory revenue hit a third-quarter record of $167.3 million, up 43%; Corsair added $37 million of memory inventory ahead of expected holiday demand.
• DIY components remained weak, with management saying higher memory prices are delaying builds. It characterized that demand as deferred, not lost.
• Peripherals revenue grew 3% to $116.5 million, held back by delayed launches and logistics issues. Corsair said the hub transition is complete and expects double-digit peripheral growth in Q4.
• Corsair ended the quarter with $136.2 million in cash and restricted cash. AI workstations are gaining traction, but the company said shortages of CPUs, GPUs, and memory limit near-term growth, with a more meaningful contribution expected in late 2027 and beyond.