Corsair Gaming : Q1 2026 Earnings Report vFINAL 050726

M A Y 7 t h 2 0 2 6

INVESTOR PRESENTATION

Powered By Passion. Dedicated To Play.

CORSAIR's mission is to design and deliver

high-quality, high-performance PC components, peripherals, and Sim Racing gear that empower gamers, creators, and enthusiasts worldwide.

CORSAIR INVESTOR PRESENTATION | MAY 2026

CORSAIR AT A GLANCE

Trailing 12-month REVENUE2

$1,457M

+8% YoY

Trailing 12-month GROSS PROFIT2

$440M

+28% YoY

Trailing 12-month ADJUSTED EBITDA(1)(2)

$114M

+92% YoY

Market Leader in Gamer + Creator Peripherals and Performance PC Ecosystem

Products sold in

70+

countries

Founded in

1994

HQ: Milpitas, CA

NASDAQ

CRSR

NPS Score3

64.5

1. See appendix for reconciliation of non-GAAP metrics to most comparable GAAP metrics

2. Trailing 12-month period ending 3/31/2026. YoY growth compared to same period ending 3/31/2025.

3. Source: PCMag, CORSAIR brand net promoter score https://www.pcmag.com/articles/the-best-tech-brands-for-2026.

*Source: Circana 2025 US Market + CORSAIR internal data

DOUBLE-DIGIT TAM GROWTH IN OUR CORE MARKETS

The global high-performance gaming and creator products market is projected to grow at a ~16% CAGR from '24-30

~$107bn (2024)

Hardware

Global Gaming PC and Peripherals Market

$68bn

Memory

Global Gaming RAM Market

$10bn

Platform

Global Creator Economy-in-Gaming Market

$29bn CAGR: 12.9% CAGR: 8.0% CAGR: 23.2% ~$257bn (2030)

Hardware

Global Gaming PC and Peripherals Market

$141bn

CAGR: 12.9%

Memory

Global Gaming RAM Market

$16bn

CAGR: 8.0%

Platform

Global Creator Economy-in-Gaming Market

$100bn

CAGR. 23.2%

KEY GROWTH DRIVERS

Demand for High-Performance PC Hardware

Growth in Gaming and Esports

Expansion of Content Creation and Streaming

Elgato Marketplace Flywheel

Rapid Hardware Innovation

Customization and Upgradeability

*Sources: Grand View Research, Market.us, Market Research Intellect with geometric interpolation

ADDITIONAL GROWTH OPPORTUNITIES IN EMERGING CATEGORIES

~$57bn (2024)

Racing Simulators

$0.54bn

Broadcast Hardware Market

$5.4bn

AI Workstations

$51bn CAGR: 15.5% CAGR: 6.8% CAGR: 42.8% ~$439bn (2030)

Racing Simulators

$1.28bn

CAGR: 15.5%

Broadcast Hardware Market

$8bn

CAGR: 6.8%

AI Workstations Market

$430bn

CAGR. 42.8%

KEY GROWTH DRIVERS

AI Workstations Modern Control for Broadcasting

Sim Racing and Hardware Growth

Rising Demand on Sim Racing and Local AI

AI Demand Acceleration Among Prosumers and SMB

Hardware Customization

*Sources: Grand View Research, Global Market Insights with geometric interpolation, Diligence Insights

DIVERSIFIED PORTFOLIO OF LEADING BRANDS

Together, our brands form a powerful ecosystem for gamers, creators, and enthusiasts around the world.

GAMING COMPONENTS AND SYSTEMS GAMER AND CREATOR PERIPHERALS

Providing the tools for gamers to play at their best.

Empowering creators worldwide to produce original premium content

World renowned in professional

sim racing solutions

Custom built performance for gaming and creator PCs.

Customizable, advanced paddle gaming controllers

Limited release Exclusive

OUR PRODUCT SEGMENTATION

The CORSAIR ecosystem is a seamlessly connected range of high-performance components and systems, gamer and creator peripherals, SIM Racing gear, and software designed to work better together.

GAMING COMPONENTS AND SYSTEMS GAMER AND CREATOR PERIPHERALS

Components and Systems

Gaming Peripherals

Creators, Streamers, Broadcasting

SIM Racing

Memory	Power Supply
Storage	PC Cases
Liquid Cooling	Fans
iCUE LINK	Prebuilt Performance PCs and AI Workstation

CORSAIR Custom Labs

Stream Deck

Headset

Webcam

Keyboard

Capture Cards

Mice/Mouse Pads

Lighting

Companion Display

Prompter

Gaming Controllers

Plugin Marketplace

Wheels

Wheelbases Pedals Cockpits Handbrake Shifter

Leverless Controller

Desks and Chairs

Audio Interface Microphones

PC G A M IN G A N D C O N T E N T C R E A T IO N T H E C O R S A I R E C O S Y S T E M

S I M R A C I N G T H E C O R S A I R E C O S Y S T E M

WHAT IS STREAM DECK?

› Control software + visual hardware button interface

› Customizable LCD key display -map any action to any key

› Cross deployed across keyboards, mice and CORSAIR peripherals

› Supported by 2MM+ active users on Elgato Marketplace

› Plugin ecosystem spans gaming, streaming, productivity, AI workflows and more

THE STREAM DECK FLYWHEEL

Small improvements build momentum over time, leading to accelerated growth.

More

Developers More

Users

Richer

Ecosystem Marketplace Growth

2MM+

Active users on Elgato Marketplace

Double digit sequential marketplace account growth

AI assisted plugin dev expanding contributor base

ELGATO MARKETPLACE

Elgato Marketplace is a flywheel and digital platform where Creators, Streamers, YouTubers, and Professionals discover and purchase thousands of plugins, overlays, and workflow tools that enhance their content and productivity. Meanwhile, developers can monetize the assets they build for the Elgato ecosystem.

TRUSTED BRAND

Our customers appreciate the value we deliver

NPS SCORE*

64.5

Score Range	Label	What It Means
70+	World-class	The brand now has loyal fan base
50-70	Excellent	The brand is delivering standout experiences
30-50	Great	The brand is delighting customers consistently
20-30	Good	The brand is a few critics but more brand advocates
0 and above	Favorable	The brand is beginning to be a crowd favorite

*Source: PCMag, CORSAIR brand net promoter score https://www.pcmag.com/articles/the-best-tech-brands-for-2026

OVER 100 AWARDS FOR INNOVATION, QUALITY AND PERFORMANCE

Our award-winning product portfolio is consistently recognized by experts.

Excellent

BUSINESS AND INNOVATION UPDATE

F1 PARTNERSHIP

› CORSAIR recently signed a strategic partnership with Formula 1®, naming Fanatec as a licensed F1® brand partner and F1® Esports Official Partner for the F1® Sim Racing World Championship.

"Fanatec has helped elevate the competitive standard of our F1 Sim Racing ecosystem, and this extension is an exciting step forward in our long and successful relationship. This state-of-the-art hardware brings fans and racers even closer to the technology used in Formula 1, giving our audience a more authentic and accessible way to experience the sport."

- Emily Prazer, Chief Commercial Officer at Formula 1

PARTNERSHIP

› Fanatec becomes the Official Sim Racing and Technology Partner for Black Falcon, reinforcing a shared commitment to blending real-world endurance racing with cutting-edge Sim Racing technology

› Black Falcon Team will compete in Class AT (alternative fuel) with a Porsche 992 GT3 Cup car

FAZE AND GUMAYUSI ESPORTS PARTNERSHIP

› CORSAIR becomes the official mouse, keyboard, headset, and mousepad partner of FaZe Esports with category exclusivity across team integrations

› An exclusive partnership with legendary League of Legends player Lee "Gumayusi" Min-hyeong, one of the most decorated athletes in the history of the game

› These partnerships also center on a shared mission: co-developing the next generation of performance peripherals designed for high-level, professional play

NEW PRODUCT LAUNCH

ELGATO WAVE NEXT

› Wave next brings together six integrated products. Wave Link 3.0 software, Wave:3 MK.2, Wave XLR MK.2, XLR Dock MK.2, Wave XLR Pro, and Stream

Deck + XL

› A cohesive ecosystem spanning audio capture, processing, and control, built for how modern creators and professionals actually work

› Wave FX Processor powers four devices forming a new foundation of the Wave platform

› Wave Next forms Elgato audio, where software, hardware, and control are designed as one

NEW PRODUCT LAUNCH

ELGATO STREAM DECK + XL

› With dozens of customizable controls and endless integrations, Stream Deck + XL puts entire productions and systems under your command-all from one intuitive interface

› Coordinate cameras, lighting, graphics and more right on cue

› Keep conversations flowing with full control over your mix

› Access every tool without breaking your flow

› Manage everything from prompts to agents in one place

NEW PRODUCT LAUNCH

VANGUARD AIR 99

› A full-sized keyboard with 8kHz hyper-polling and an LCD screen for next level personalization

› Allows you to map Stream Deck actions to the G-keys and unlock Virtual Stream Deck

› Clickable shortcuts that can be freely positioned on-screen or accessed via hotkey for productivity, streaming or gaming scenarios

› A brilliant full-color 320 x 170 LCD screen that lets you showcase your unique style on a whole different level

› Display custom images, animations, system specs, sync it with the rotary dial's customizable media controls, and more

AI WORKSTATION TRACTION

› CORSAIR positioned as the dedicated local AI compute brand, delivering private, on-device AI with minimal cloud dependency

› AI300 launched July 2025 on AMD's Ryzen AI Max 300 Series platform, with strong Q1' 26 demand momentum as local AI inference moves from enthusiast to mainstream

› New CORSAIR Pro X-Class Grando (multi-GPU liquid-cooled server, up to 6× NVIDIA Pro 6000 Blackwell GPUs) enters commercial availability in Q2 '26, expanding the AI workstation portfolio from desktop to server-class

FINANCIAL UPDATE

Q1 2026 - STRONG PROFIT GROWTH

REVENUE

-4% YoY

$354.5M

GROSS PROFIT

+13% YoY

$116.0M

ADJUSTED EBITDA 1

+58% YoY

$35.8M

ADJUSTED EPS (diluted) 1

+$0.16 YoY

$0.27

$354.0 $337.3 $369.8 $354.5

$20.6 $22.6

$18.0

$35.8

Q1 23 Q1 24 Q1 25 Q1 26

Q1 23 Q1 24 Q1 25 Q1 26

Revenue in $ Millions Adjusted EBITDA in $ Millions

(1) See appendix for reconciliation of non-GAAP metrics to most comparable GAAP metrics.

MARGIN EXPANSION AND COST CONTROL DRIVE PROFIT GROWTH

$1,348

$1,390

$1,441 $1,460 $1,443

$1,379

$1,320 $1,316

$1,408

$1,349

$1,449 $1,472 $1,457

$93 $95 $93

$101

$114

$80

$74

$69

$80

$52

$55 $55

$59

Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26 Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26

Trailing 12-month Revenue in $ Millions Trailing 12-month Adjusted EBITDA in $ Millions1

(1) See appendix for reconciliation of non-GAAP metrics to most comparable GAAP metrics.

GROWTH IN HIGHER MARGIN GAMER AND CREATOR PERIPHERALS

Q1 26 REVENUE

+10% YoY

$123.3M

$473

$413 $428 $440

$393 $382 $376 $395

$478 $486 $497 $492 $503

Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26

Trailing 12-month Revenue in $ Millions

40.8% 41.5% 40.0% 39.3% 40.8%

37.2% 37.9% 38.3% 37.7% 37.8%

Q1 26 GROSS PROFIT

+8% YoY

$50.3M

30.0%

32.4% 33.1%

Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26

Quarterly Gross Margin

CONSISTENT LEADERSHIP IN GAMING COMPONENTS AND SYSTEMS

$956

$1,008 $1,065 $1,065 $1,030

$951

$880 $844 $871

$922 $952 $980 $954

Q1 26 REVENUE

-10% YoY

$231.2M

Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26

Trailing 12-month Revenue in $ Millions

Q1 26 GROSS PROFIT

+18% YoY

$65.7M

22.2% 23.2% 21.8%

18.5% 18.7%

16.4%

15.1%

18.1%

21.7% 20.6% 20.9%

30.2%

28.4%

Q1 23 Q2 23 Q3 23 Q4 23 Q1 24 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 Q3 25 Q4 25 Q1 26

Quarterly Gross Margin

FIVE CONSECUTIVE QUARTERS OF PROGRESS

TTM Gamer and Creator Peripherals Segment Revenue Growth

(in $ Millions)

Quarterly Gross Margin

33.1%

32.7%

Quarterly Adjusted EBITDA(1) (in $ Millions)

+62%

YoY

$54

$413

$478

$428

$486

$440

$497 $473 $492 $478 $503

25.7%

27.7%

24.1%

26.8%

22.9%

26.9% 26.2%

27.7%

$18

+26%

YoY

$23

+235%

YoY

$16

$33

$23

+58%

YoY

$36

$8

$5

($-1)

Q1 24 Q1 25 Q2 24 Q2 25 Q3 24 Q3 25 Q4 24 Q4 25 Q1 25 Q1 26

Q1 24 Q1 25 Q2 24 Q2 25 Q3 24 Q3 25 Q4 24 Q4 25 Q1 25 Q1 26

Q1 24 Q1 25 Q2 24 Q2 25 Q3 24 Q3 25 Q4 24 Q4 25 Q1 25 Q1 26

Consistent growth in higher margin Gamer and Creator Peripherals Segment

Consistent gross margin expansion, with quarterly records in past two quarters,

despite tariff headwinds

Significant Adjusted EBITDA expansion year-over-year from margin growth and operating leverage

(1) See appendix for reconciliation of non-GAAP metrics to most comparable GAAP metrics.

FINANCIAL GUIDANCE

FINANCIAL GUIDANCE(1)

Financial Metrics	Q2 2026 Guidance
Net Revenue	$295 - $320 million
Adjusted EBITDA	$12.5 - $15.5 million
Non-GAAP EPS	$0.05 - $0.07

(1) Given the number of risk factors, uncertainties and assumptions, many of which are referenced in slide 2, actual results may differ materially. We do not intend to update our financial outlook until our next quarterly results announcement. Estimates should not be viewed as a substitute for our full annual financial statement and are not necessarily indicative of the results to be expected for any future period. Certain non-GAAP measures included in our financial outlook were not reconciled to the comparable GAAP financial measures because the GAAP measures are not accessible on a forward-looking basis. We are unable to reconcile these forward-looking into non-GAAP measures to the most directly comparable GAAP measures without unreasonable effort because we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for this period but would not impact the non-GAAP measures. Such items may include stock-based compensation charges, public offering related charges, depreciation and amortization, and other items. The unavailable information could have a significant impact on our GAAP financial results.

FINANCIAL GUIDANCE(1)

Financial Metrics	2026 Guidance
Net Revenue	$1.33 - $1.47 billion
Adjusted EBITDA	$100 - $115 million
Non-GAAP EPS	$0.58 - $0.74

(1) Given the number of risk factors, uncertainties and assumptions, many of which are referenced in slide 2, actual results may differ materially. We do not intend to update our financial outlook until our next quarterly results announcement. Estimates should not be viewed as a substitute for our full annual financial statement and are not necessarily indicative of the results to be expected for any future period. Certain non-GAAP measures included in our financial outlook were not reconciled to the comparable GAAP financial measures because the GAAP measures are not accessible on a forward-looking basis. We are unable to reconcile these forward-looking into non-GAAP measures to the most directly comparable GAAP measures without unreasonable effort because we are currently unable to predict with a reasonable degree of certainty the type and extent of certain items that would be expected to impact GAAP measures for this period but would not impact the non-GAAP measures. Such items may include stock-based compensation charges, public offering related charges, depreciation and amortization, and other items. The unavailable information could have a significant impact on our GAAP financial results.

A P P E N D I X

USE OF NON-GAAP FINANCIAL MEASURES

To supplement the financial results presented in accordance with GAAP, this presentation includes certain non-GAAP financial information, including Adjusted Operating Income (Loss), Adjusted EBITDA, Adjusted Net Income (Loss) and Adjusted Net Earnings (Loss) Per Share. These are important financial performance measures for us but are not financial measures as defined by GAAP. The presentation of this non-GAAP financial information is not intended to be considered in isolation of or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

We use these non-GAAP financial measures to evaluate our operating performance and trends and make planning decisions. We believe that these non-GAAP financial measures help identify underlying trends in our business that could otherwise be masked by the effect of the expenses and other items that we exclude in such non-GAAP financial measures. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results, enhancing the overall understanding of our past performance and future prospects, and allowing for greater transparency with respect to the key financial metrics used by our management in our financial and operational decision-making. We also present these non-GAAP financial measures because we believe investors, analysts and rating agencies consider them useful in measuring our ability to meet our debt service obligations.

Our use of these terms may vary from that of others in our industry. These non-GAAP financial measures should not be considered as an alternative to net revenues, operating income (loss), net income (loss), cash provided by operating activities or any other measures derived in accordance with GAAP as measures of operating performance or liquidity. Reconciliations of these measures to the most directly comparable GAAP financial measures are presented in the appendix.

We encourage investors and others to review our financial information in its entirety, not to rely on any single financial measure and to view these non-GAAP financial measures in conjunction with the related GAAP financial measures.

GAAP TO NON-GAAP RECONCILIATIONS

Non-GAAP Operating Income (Loss) Reconciliations

(Unaudited, in thousands, except percentages)

Three Months Ended March 31, 2026 2025
Operating income (loss) - GAAP	$ 13,796	$ (2,263)
Amortization	9,806	9,782
Stock-based compensation	6,694	9,322
Restructuring and other charges	1,580	1,095
Acquisition and related integration costs	-	2,185
Acquisition accounting impact related to recognizing acquired inventory at fair value	-	515
Adjusted Operating Income - Non-GAAP	$ 31,876	$ 20,636
As a % of net revenue - GAAP	3.9%	-0.6%
As a % of net revenue - Non-GAAP	9.0%	5.6%

GAAP TO NON-GAAP RECONCILIATIONS

Non-GAAP Net Income (Loss) and Net Income (Loss) Per Share Reconciliations

(Unaudited, in thousands, except per share amounts)

Three Months Ended March 31, 2026 2025
Net income (loss) attributable to common stockholders of CORSAIR Gaming, Inc. (1)	$ 11,864	$ (10,067)
Less: Change in redemption value of redeemable noncontrolling interest	(920)	392
Net income (loss) attributable to CORSAIR Gaming, Inc.	12,784	(10,459)
Add: Net income attributable to noncontrolling interest	273	142
Net income (loss) - GAAP	13,057	(10,317)
Adjustments:
Amortization	9,806	9,782
Stock-based compensation	6,694	9,322
Restructuring and other charges	1,580	1,095
Acquisition and related integration costs	-	2,185
Reversal of bargain purchase gain on business acquisition	-	2,581
Acquisition accounting impact related to recognizing acquired inventory at fair value	-	515
Non-GAAP income tax adjustment	(1,983)	(2,844)
Adjusted net income - Non-GAAP	$ 29,154	$ 12,319
Diluted net income (loss) per share: GAAP	$ 0.11	$ (0.10)
Adjusted, Non-GAAP	$ 0.27	$ 0.11
Weighted-average common shares outstanding - Diluted:
GAAP	107,774	105,240
Adjusted, Non-GAAP	107,774	107,367

(1) Numerator for calculating net income (loss) per share-GAAP

GAAP TO NON-GAAP RECONCILIATIONS

Adjusted EBITDA Reconciliations

(Unaudited, in thousands, except percentages)

Three Months Ended March 31, 2026 2025
Net income (loss) - GAAP	$ 13,057	$ (10,317)
Amortization	9,806	9,782
Stock-based compensation	6,694	9,322
Restructuring and other charges	1,580	1,095
Acquisition and related integration costs	-	2,185
Reversal of bargain purchase gain on business acquisition	-	2,581
Acquisition accounting impact related to recognizing acquired inventory at fair value	-	515
Depreciation	3,551	3,373
Interest expense, net of interest income	1,270	2,046
Income tax (benefit) expense	(157)	2,061
Adjusted EBITDA - Non-GAAP	$ 35,801	$ 22,643
Adjusted EBITDA margin - Non-GAAP	10.1%	6.1%

GAAP TO NON-GAAP RECONCILIATIONS

TTM ADJUSTED EBITDA RECONCILIATIONS

(unaudited, in thousands)

CFIRSA IR

20