$CRSR Earnings Notes
One of the largest positions in my portfolio is Corsair $CRSR recently reported earnings. While much of it was disappointing from a financial standpoint I believe the business is still continuing to grow nicely.

First Corsair starts by showing its dominant place in the market. Still number one in the PC Components market.

Peripherals are also growing quite rapidly. While Corsair is not the leader here they continue to gain market share.

Overall Pre-Built systems also increase Y/Y.

In terms of the streaming gear space, Elgato's Magnum Opus the Stream Deck continues to rapidly increase its sales figures.

Corsair also announced an investment in iDisplay.

While the company is still quite small I anticipate continued growth especially given...

iDisplay helped build Elgatos best selling product.

Of course, the core business shrank overall by quite a bit.

Management blames stimulus checks and "pent-up demand." Management also decided to show comps back to 2020 which is... Interesting.

Also, War+Inflation isn't a great combo.

Despite much of the bad news I still believe Corsair is a good way to catch not only the growing gaming market but also the growing PC market.
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Upcoming Earnings Calendar (Feb 7th - 11th)
Hey guys!

A key week is ahead of us! Here's what I'm interested in:

  • $APPS - One of my largest holdings. I'd like an update on the progress of single-tap and the tests they were running with Meta $FB. I'm also interested in seeing how their device footprint is expanding after their latest deals.
  • $DIS - They've invested heavily on Marvel and Star Wars series for Disney+, so let's see if this translates to lower churn and higher growth.
  • $NET - Really interesting stock but the valuation seems too high. Let's see if there's a good opportunity to enter post-earnings.

Good luck!

If you'd like an easier way to track earnings dates, you can automatically sync your portfolio's earning dates to your personal calendar with just a couple of clicks here.





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Strat Becker's avatar
$4.4m follower assets
Changing Revenue Mix at Corsair
$CRSR is projecting 20% growth in peripherals annually for the next five years in their annual investor day report. If achieved 2023 segment revenue would be over $925 million vs the analyst mean estimate of $835 million. It would also call for peripherals to be over 46% of revenue by 2026 and be well over 50% of gross margin contribution. Another interesting tidbit is that creator products are expected to grow at a high range than the peripherals segment as a whole!
Strat Becker's avatar
$4.4m follower assets
Corsair's Moat in the Creator Economy
Happy New Year to the market! Starting the year off with a deep dive into Corsair's moat with content creators. Hope it's useful! https://thetathoughts.substack.com/p/corsairs-streaming-moat
Hi Stat this is a great read! I think your conclusion is sound, especially like that you make a distinction between the company's business and the stock itself. This is where a lot of people often muddle narratives.

Recommending this to @xxxxxxxxxx as I can see he currently holds $CRSR so would be interested to hear his perspective on this.
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Four Highlights from the Corsair Earnings Call
$CRSR reported earnings this morning. Here's four quotes from the company's earnings call that I found interesting:

  • Demand for gaming peripherals is still high: "Demand has remained strong for gaming components and gaming peripherals. In fact, recent market data shows consumer demand for peripherals at close to the elevated 2020 work-from-home levels. We also recently conducted a survey of the PC gaming hardware market with DFC Intelligence. And we found that the refresh cycle for building and upgrading PCs is shorter than previously thought, closer to 1 to 2 years rather than 2 to 3 years." Bullish sign for the company, $LOGI, and gaming stocks in general.

  • Pent-up demand for graphics cards: "The semiconductor shortage has caused graphics cards to be in very short supply compared to demand and has driven market prices of certain graphics cards to 150% to 200% of normal MSRP. This has caused gaming enthusiasts to hold back on building new high-end gaming PCs that use our components. By our estimate, approximately 10% of our natural demand for our components and memory products in our Gaming Components segment was held back in 2021. We believe this should cause a bubble of pent-up demand, which will be released as GPA use return to normal MSRPs in 2022." $NVDA $TSM

  • DTC focus: "During the third quarter, direct-to-consumer was 13.1% of sales, up from 10% in Q3 2020, and we expect this trend to continue. We truly believe direct-to-consumer sales represents a significant avenue to drive growth by facilitating increased engagement with our consumers."

  • Supply chain disruptions: "Our third quarter results were challenged by a very difficult logistics and supply chain environment. Logistics is slower than usual, with many shipping lanes taking over double the normal shipping times and at a much higher cost. At times, we're not able to purchase all of certain semiconductors that we need."

Upcoming Earnings Calendar! (Nov 1-5)
Hey guys! Here's next week's earnings calendar! Several very interesting companies set to report earnings. Here's the one's I'm most excited about and why:

  • $APPS: any sign of iOS ad dollars shifting to android (Digital Turbine's revenues are mostly from android).
  • $Z: an update on the real estate market and iBuying
  • $LYFT and $UBER: is mobility in the US back to pre-pandemic levels?
  • $COIN metrics on the NFT market.
  • $PENN and $DKNG update on the mobile sports betting market.
  • $ATVI number of Call of Duty Warzone players. The last reported number was 100MM.
  • $CRSR: comments on the supply chain issues they're experiencing.
  • $MELI: update on the Brazilian e-commerce market. Relevant for $SE's expansion.
Comment below which earnings report you are looking forward to the most!
Friendly reminder: you can automatically sync your portfolio's earning dates to your personal calendar with just a couple of clicks here.





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Eric Pelnik's avatar
$266.9m follower assets
Earnings this week
📞Which calls are you most excited about?

Monday, August 2nd
$ZI ZoomInfo Technologies

Tuesday, August 3rd
$APRN Blue Apron
$BHG Bright Health Group
$NKLA Nikola
$CWH Camping World
$PGR Progressive
$COUR Coursera
$CRSR Corsair Gaming
$SKLZ Skillz

Wednesday, August 4th
$LMND Lemonade
$MVIS Microvision
$WYNN Wynn Resorts
$ROKU Roku

Thursday, August 5th
$HEAR Turtle Beach
$MNST Monster Beverage
$CFLT Confluent
$CWK Cushman & Wakefield
$DOCN DigitalOcean
$EB Eventbrite
$FSR Fisker
$FNKO Funko
$FVRR Fiverr
$SPCE Virgin Galactic
$MRNA Moderna
$SQ Square

Friday, August 6th
$TWST Twist Biosciences
$CRON Cronos Group
$DKNG DraftKings

Sources: Business Insider, Google Finance, Yahoo Finance
$SQ for me, one of my important investments, $ZI mainly because they are headquartered about a 5 minute walk from my apartment. Also because I've looked at this stock and wonder how well they will continue to do in the coming years.
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$CRSR is probably one of the most undervalued stocks on the market. They are the leaders of the rapidly growing streaming industry. Nothing can compete with their Elgato brand.
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