Latest news with #AndyPaul
Yahoo
19-05-2025
- Health
- Yahoo
'I forgot my daughter's birthday – it led to the worst news I could have imagined'
Andy Paul has never forgotten any of his kids' milestones but when he opened his Facebook page and saw an alert saying it was his daughter's birthday he had absolutely no recollection of it. Luckily it was early in the day and he could cover his tracks by popping to Asda and buying her a card. But, it was the latest little sign of his memory that caused him worry. He made an appointment with his GP and was referred to a memory clinic where he was asked to draw a clock. But, try as he might, he couldn't remember where to put the number 12. A brain scan then followed after which he was told he had Alzheimer's disease. He was just 60. Before then he thought it was just part of getting older but with the diagnosis came the warning he probably had between five and eight years to live. He is now 66 and five years on from his diagnosis. READ MORE: Man who died weighing eight stone was 'too weak' to be operated on by the time he reached hospital ward READ MORE: Famous breed of dog is dying out with barely any puppies born He had put forgetting names, or spellings, down to getting older. "I've never been the brightest star in the sky when it comes to putting pen to paper but I seem to have just lost the ability to spell anything. Basic came as a bit of a shock," he said. For our free daily briefing on the biggest issues facing the nation, sign up to the Wales Matters newsletter here. It dawned him it was more than getting older. "I was forgetting dates and I couldn't remember actually basic things like people's names – people I had known for a long time. I remember my kids' names still but even now when I go out I say: 'What's his name?'." His overriding feeling when he struggled to spell a word or remember a name was one of frustration, he said. "After getting the diagnosis I thought: 'Well I can't argue with technology – I've had the scans and I won't beat this, because you won't beat it, but I've got to cope with it'." In the years since his diagnosis his symptoms have got worse. He now relies on help of apps or Alexa for any spellings and his body shakes to such a degree he has had to change his life. It stops him doing day-to-day tasks and he is having to learn to adapt and ask for help. "I won't eat out now in a restaurant because I don't want the food everywhere. I took my grandkids to McDonald's and dropped the tray with all the drinks on them and everything. I just wanted a big hole to swallow me me up but there are good people out there and when I dropped it there was a guy there who was fantastic. But what I should have done was have said to my grandson: 'Carry the tray for granddad'. But he said: "It frustrated me more than anything and I suppose I was a little bit sad but I'm not one for dwelling or self-pity. So I gave myself a kick up the bum. "I used to be embarrassed with myself but it's not fault – I didn't ask to get ill." He is now awaiting brain surgery. His surgeon has warned him that the surgery could stop his tremors or it could bring on his condition quicker. But he wants to have good years in which he can start going back out for dinner without fearing not being able to control his hands so he is able to eat in public. "What the surgeon said to me was: 'I don't know what your outlook is'. My outlook is is quality of life – not quantity. You're better to have two good years than five bad ones. That's what I believe in." Andy, from Deeside, is involved in a number of charities, including Alzheimer's Society, and is involved with training North Wales Police and the Welsh Ambulance Service as well as giving talks at Bangor University. He wants to do anything he can to help people understand the condition. His charity work has meant he has become a go-to for friends who approach him for advice, saying they are worried about a relative or even themselves. His advice is simple – go to the GP to get help. Andy knew his GP and when he first approached him and told him he was worried they had an informal chat and then a formal one. He was then told to go to the memory clinic. Within weeks he had his first memory clinic appointment. He had to carry out a number of predictive tests – things like drawing the clock or filling in the blanks. "It doesn't sound right on the clock because anybody can draw a clock. I drew a circle and I put the numbers in but the one at the top where the 12 should be. For that 10 minutes or half hour or so I didn't have a clue where the 12 went," he said. He was fully aware something was missing and each time he tried he couldn't manage. Then he was sent to hospital in Wrexham where his diagnosis was confirmed after a brain scan. He was told he had between five and eight years to live. Five years on from that "I'm going nowhere fast," said Andy. The thing he struggled with most was his driving licence being taken from him. "The one thing that upset me was they took me driving licence off me literally the day after I was diagnosed. I thought: 'I could drive yesterday but I can't drive today? I've still got my faculties, I'm not making a silly decisions'. If I thought I was a threat on the roads to the road users I'd pack in myself but I've paid for a test and passed with flying colours," he said. He has been paying for yearly assessments to keep his licence and just needs help from his son to fill the form in. "When the form comes around I say: 'Right, I'm not going to let this get me down'." Andy has seen how much others struggle with the diagnosis. A friend who had an Alzheimer's diagnosis at the same time has since taken his own life "because he couldn't handle the fact he had a terminal illness and basically he was waiting around to die – but I don't look at it like that". Asked how he keeps that attitude he said: "Obviously your life is going to be cut shorter than it normally would have been. But I think: 'What's the point in dwelling or self-pity and sadness? Keep doing what you were doing and if you can give help to other people.' "There are ways to try and deal with it – the day will come when I can't deal with it but I won't be aware of it then. I'm one of these 'what will be will be' people – there's people worse off out there," he said. Andy added: "I have what's called young-onset dementia. People expect somebody with dementia to be an old man or an old lady in a nursing home. with a walking stick or a blue rinse and it's something old people get. Since I've been doing what I've been doing I've spoken to guys at 40 and 50. It can happen to anybody." Rachel Nelson from Alzheimer's Society Cymru said: 'Around 50,000 people are living with dementia in Wales and nearly half of them don't have a diagnosis. This means thousands of people are facing the devastating realities of dementia without access to the vital care, support, and treatment that a diagnosis can bring. "Getting a diagnosis can be daunting but we believe it's better to know. Alzheimer's Society research showed 97% saw a benefit in getting a diagnosis. An early and accurate diagnosis is crucial to manage symptoms, live independently for longer, and avoid ending up in a crisis."
Wales Online
19-05-2025
- Health
- Wales Online
'I forgot my daughter's birthday – it led to the worst news I could have imagined'
'I forgot my daughter's birthday – it led to the worst news I could have imagined' Andy Paul was struggling to spell words or remember names – and then he was given a life-changing diagnosis Andy Paul, from Deeside, was diagnosed with early-onset Alzheimer's five years ago (Image: Keith Freeburn ) Andy Paul has never forgotten any of his kids' milestones but when he opened his Facebook page and saw an alert saying it was his daughter's birthday he had absolutely no recollection of it. Luckily it was early in the day and he could cover his tracks by popping to Asda and buying her a card. But, it was the latest little sign of his memory that caused him worry. He made an appointment with his GP and was referred to a memory clinic where he was asked to draw a clock. But, try as he might, he couldn't remember where to put the number 12. A brain scan then followed after which he was told he had Alzheimer's disease. He was just 60. Before then he thought it was just part of getting older but with the diagnosis came the warning he probably had between five and eight years to live. He is now 66 and five years on from his diagnosis. He had put forgetting names, or spellings, down to getting older. "I've never been the brightest star in the sky when it comes to putting pen to paper but I seem to have just lost the ability to spell anything. Basic came as a bit of a shock," he said. For our free daily briefing on the biggest issues facing the nation, sign up to the Wales Matters newsletter here. It dawned him it was more than getting older. "I was forgetting dates and I couldn't remember actually basic things like people's names – people I had known for a long time. I remember my kids' names still but even now when I go out I say: 'What's his name?'." His overriding feeling when he struggled to spell a word or remember a name was one of frustration, he said. "After getting the diagnosis I thought: 'Well I can't argue with technology – I've had the scans and I won't beat this, because you won't beat it, but I've got to cope with it'." Article continues below In the years since his diagnosis his symptoms have got worse. He now relies on help of apps or Alexa for any spellings and his body shakes to such a degree he has had to change his life. It stops him doing day-to-day tasks and he is having to learn to adapt and ask for help. "I won't eat out now in a restaurant because I don't want the food everywhere. I took my grandkids to McDonald's and dropped the tray with all the drinks on them and everything. I just wanted a big hole to swallow me me up but there are good people out there and when I dropped it there was a guy there who was fantastic. But what I should have done was have said to my grandson: 'Carry the tray for granddad'. But he said: "It frustrated me more than anything and I suppose I was a little bit sad but I'm not one for dwelling or self-pity. So I gave myself a kick up the bum. "I used to be embarrassed with myself but it's not fault – I didn't ask to get ill." He is now awaiting brain surgery. His surgeon has warned him that the surgery could stop his tremors or it could bring on his condition quicker. But he wants to have good years in which he can start going back out for dinner without fearing not being able to control his hands so he is able to eat in public. "What the surgeon said to me was: 'I don't know what your outlook is'. My outlook is is quality of life – not quantity. You're better to have two good years than five bad ones. That's what I believe in." Andy, from Deeside, is involved in a number of charities, including Alzheimer's Society, and is involved with training North Wales Police and the Welsh Ambulance Service as well as giving talks at Bangor University. He wants to do anything he can to help people understand the condition. His charity work has meant he has become a go-to for friends who approach him for advice, saying they are worried about a relative or even themselves. His advice is simple – go to the GP to get help. The signs and symptoms of Alzheimer's This week (May 19 to 24) is Dementia Action Week. Alzheimer's Society is highlighting the six most common and early symptoms of dementia. They are: Memory loss – for example, problems recalling things that happened recently. Difficulty organising thoughts or staying focused – for example struggling to make decisions, solve problems, or follow a series of steps (such as cooking a meal). Problems using words or communicating – for example difficulties following a conversation or finding the right word for something. Problems with vision – for example problems judging distances (such as on stairs) or perceiving the edges of objects and misinterpreting patterns or reflections. Getting confused about where you are or what time it is – for example, losing track of the time or date or becoming confused about where you are. Changes in mood or personality – for example becoming unusually anxious, irritable, sad, or frightened, losing interest in things, and personality changes. Andy knew his GP and when he first approached him and told him he was worried they had an informal chat and then a formal one. He was then told to go to the memory clinic. Within weeks he had his first memory clinic appointment. He had to carry out a number of predictive tests – things like drawing the clock or filling in the blanks. "It doesn't sound right on the clock because anybody can draw a clock. I drew a circle and I put the numbers in but the one at the top where the 12 should be. For that 10 minutes or half hour or so I didn't have a clue where the 12 went," he said. He was fully aware something was missing and each time he tried he couldn't manage. Then he was sent to hospital in Wrexham where his diagnosis was confirmed after a brain scan. He was told he had between five and eight years to live. Five years on from that "I'm going nowhere fast," said Andy. The thing he struggled with most was his driving licence being taken from him. "The one thing that upset me was they took me driving licence off me literally the day after I was diagnosed. I thought: 'I could drive yesterday but I can't drive today? I've still got my faculties, I'm not making a silly decisions'. If I thought I was a threat on the roads to the road users I'd pack in myself but I've paid for a test and passed with flying colours," he said. Andy has been working with charities across north Wales since his diagnosis (Image: Keith Freeburn ) He has been paying for yearly assessments to keep his licence and just needs help from his son to fill the form in. "When the form comes around I say: 'Right, I'm not going to let this get me down'." Andy has seen how much others struggle with the diagnosis. A friend who had an Alzheimer's diagnosis at the same time has since taken his own life "because he couldn't handle the fact he had a terminal illness and basically he was waiting around to die – but I don't look at it like that". Asked how he keeps that attitude he said: "Obviously your life is going to be cut shorter than it normally would have been. But I think: 'What's the point in dwelling or self-pity and sadness? Keep doing what you were doing and if you can give help to other people.' "There are ways to try and deal with it – the day will come when I can't deal with it but I won't be aware of it then. I'm one of these 'what will be will be' people – there's people worse off out there," he said. Andy added: "I have what's called young-onset dementia. People expect somebody with dementia to be an old man or an old lady in a nursing home. with a walking stick or a blue rinse and it's something old people get. Since I've been doing what I've been doing I've spoken to guys at 40 and 50. It can happen to anybody." Rachel Nelson from Alzheimer's Society Cymru said: 'Around 50,000 people are living with dementia in Wales and nearly half of them don't have a diagnosis. This means thousands of people are facing the devastating realities of dementia without access to the vital care, support, and treatment that a diagnosis can bring. Article continues below "Getting a diagnosis can be daunting but we believe it's better to know. Alzheimer's Society research showed 97% saw a benefit in getting a diagnosis. An early and accurate diagnosis is crucial to manage symptoms, live independently for longer, and avoid ending up in a crisis."
Business Wire
06-05-2025
- Business
- Business Wire
Corsair Gaming Reports Strong First Quarter 2025 Growth in Revenue, EBITDA and Gross Margin
MILPITAS, Calif.--(BUSINESS WIRE)--Corsair Gaming, Inc. (Nasdaq: CRSR) ('Corsair' or the 'Company'), a leading global provider and innovator of high-performance products for gamers, streamers, content-creators, and gaming PC builders, today announced financial results for the first quarter ended March 31, 2025. First Quarter 2025 Select Financial Metrics Net revenue was $369.8 million compared to $337.3 million in the first quarter of 2024, led by continued growth in the Gamer and Creator Peripherals segment and a rebound in growth in the Gaming Components and Systems segment. Gamer and Creator Peripherals segment net revenue was $112.0 million compared to $107.0 million in the first quarter of 2024. Gaming Components and Systems segment net revenue was $257.8 million compared to $230.3 million in the first quarter of 2024. Net loss attributable to common shareholders was $10.1 million, or net loss of $0.10 per diluted share, compared to a net loss of $12.5 million, or net loss of $0.12 per diluted share, in the first quarter of 2024. Adjusted net income was $12.3 million, or net income of $0.11 per diluted share, compared to adjusted net income of $9.5 million, or net income of $0.09 per diluted share, in the first quarter of 2024. Adjusted EBITDA was $22.6 million, compared to $18.0 million for the first quarter of 2024. Cash and restricted cash was $102.5 million as of March 31, 2025. Definitions of the non-GAAP financial measures used in this press release and reconciliations of such measures to their nearest GAAP equivalents are included below under the heading 'Use and Reconciliation of Non-GAAP Financial Measures.' Andy Paul, Chief Executive Officer of Corsair, stated, 'We met our revenue and earnings targets for Q1, reflecting strong execution across the business, with continued growth in the Gamer and Creator Peripherals segment and a rebound in growth in the Gaming Components and Systems segment. One of the key milestones this quarter was the successful initial integration of Fanatec into Corsair, including our website, e-commerce systems, enterprise resource planning, supply chain, and customer support infrastructure. Consumers have responded enthusiastically to the improved product availability, enhanced customer service and better overall experience. We're excited to bring Fanatec products to key specialist retailers in Q2, further expanding our reach in the enthusiast gaming market and driving incremental revenue growth.' 'Looking ahead to Q2, we expect continued year over year growth in the self-built PC market as GPU availability improves, barring any unexpected tariff-related disruptions and barring any consumer slowdown, which could follow from generally higher prices on other consumer goods. We have proactively built substantial inventory in-country and, based on what we know today, we do not anticipate major tariffs on the core processing components of gaming PCs, including CPUs and GPUs. If that holds, we see no significant barriers to continued momentum in gaming PC builds, especially given the aging GPU install base of 3 to 5 years in systems for a significant portion of our customer base. While casual gaming purchases may soften in a broader economic slowdown, we believe our enthusiast-level products, including high-performance keyboards, mice, and headsets, will remain resilient. Growth in non-China Asia continues to be strong, with increased investment in Japan, South Korea, and other important markets.' 'Finally, we are also starting to see the benefits of AI across our business. Elgato is already shipping AI-enhanced tools like the AI Prompter and AI Wavelink with AiCoustic, and our customer support team is leveraging AI-driven knowledge base systems. We expect AI to be an even more significant growth driver for us as it impacts every aspect of game creation and play.' Thi La, President and future Chief Executive Officer of Corsair as of July 1, 2025, stated, 'Roughly 45% of our business is in the U.S. Based on current tariff policies, and using our Q125 product mix, approximately 80% of our product sales in the U.S. are excluded from tariffs or have tariff rates of 10% or less. In Q1, only 19% of our U.S. imports were sourced from China, and this number is expected to drop during this year. Our supply chain is highly adaptable, and we have the flexibility to shift manufacturing to alternative locations within two to four quarters if needed.' Michael G. Potter, Chief Financial Officer of Corsair, stated, 'We are pleased with the continued improvement in our first quarter performance, particularly the expansion in margins, which reflects our disciplined execution and focus on operational efficiency. From a financial standpoint, we have taken meaningful steps to further strengthen our balance sheet, including reducing debt and enhancing liquidity, which provides us with increased flexibility and resilience in the face of broader market volatility. These improvements not only reinforce our strong financial position but also enable us to strategically invest in innovation and pursue long-term growth opportunities that we believe will build meaningful value for shareholders.' Given the current uncertainty stemming from newly announced tariffs, and the potential for further tariffs and retaliatory measures, we are not reaffirming our full-year 2025 guidance at this time. However, if current conditions hold, we remain on track to achieve the guidance originally issued on February 12, 2025. We intend to provide an updated outlook later this year as visibility improves. The information provided above is based on Corsair's current estimates and is not a guarantee of future performance. These statements are forward-looking and actual results may differ materially. Refer to the 'Forward-Looking Statements' section below for information on the factors that could cause Corsair's actual results to differ materially from these forward-looking statements. Recent Developments Power supplies designed for NVIDIA high power GPU cards. With dual 12V-2x6 cables and fully modular cabling, Corsair's HXi Series platinum power supplies have every connection needed to power today's most demanding PC upgrades, including the latest, most powerful GPUs, the NVIDIA® RTX 50 series and AMD® 9070 series graphics cards. A new dual-color connector provides visual confirmation of a secure connection, offering additional peace of mind for PC builders. Expanded Custom labs platform: Launched in 2024, Corsair's innovative platform empowers gamers to personalize gaming peripherals to create a setup that reflects their unique style and preferences. This includes recent expanded options with the award-winning Call of Duty and Starfield franchises across multiple product categories at Corsair including Drop, Elgato, ORIGIN PC and SCUF Gaming. Peter Moreo was recently hired as Custom Solutions VP responsible for forging new marketing partnerships and further expanding Corsair's custom offerings, as the company continues to build upon its differentiated position with leading brands and gaming enthusiasts. Porsche launches with Fanatec: The officially licensed CSL Elite Steering Wheel Porsche Vision GT features an intuitive input layout, premium materials and exceptional craftsmanship. Suitable for the full range of Fanatec bases. This is the first steering wheel to use Fanatec's new Tactaris material, a premium microfiber fabric that enhances durability, comfort, and handling. Conference Call and Webcast Information Corsair will host a conference call to discuss the first quarter 2025 financial results today at 2:00 p.m. Pacific Time. The conference call will be accessible on Corsair's Investor Relations website at or by dialing 1-844-676-2245 (USA) or 1-412-634-6652 (International) with conference ID 10198678. A replay will be available approximately 3 hours after the live call ends on Corsair's Investor Relations website, or through May 13, 2025 by dialing 1-844-512-2921 (USA) or 1-412-317-6671 (International), with passcode 10198678. About Corsair Gaming Corsair (Nasdaq: CRSR) is a leading global developer and manufacturer of high-performance products and technology for gamers, content creators, and PC enthusiasts. From award-winning PC components and peripherals to premium streaming equipment and smart ambient lighting, Corsair delivers a full ecosystem of products that work together to enable everyone, from casual gamers to committed professionals, to perform at their very best. Corsair also sells products under its Fanatec brand, the leading end-to-end premium Sim Racing product line; Elgato brand, which provides premium studio equipment and accessories for content creators; SCUF Gaming brand, which builds custom-designed controllers for competitive gamers; Drop, the leading community-driven mechanical keyboard brand; and ORIGIN PC brand, a builder of custom gaming and workstation desktop PCs. Forward-Looking Statements This press release contains express and implied forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding the Company's financial outlook for the full year 2025; market headwinds and tailwinds, including its expectations regarding the gaming market's continued growth; new product launches, the entry into new product categories and demand for new products; the Company's ability to successfully close and integrate acquisitions and expectations regarding the growth of these acquisitions as well as their estimated impact on the Company's financial results in future periods and the size of markets and segments in the future. Forward-looking statements are based on our management's beliefs, as well as assumptions made by, and information currently available to them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: the Company's limited operating history, which makes it difficult to forecast the Company's future results of operations; current macroeconomic conditions, including the impacts of high inflation and risk of recession, on demand for our products, consumer confidence and financial markets generally; changes in trade regulations, policies, and agreements and the imposition of tariffs that affect our products or operations, including potential new tariffs that may be imposed on U.S. imports and our ability to mitigate; the Company's ability to build and maintain the strength of the Company's brand among gaming and streaming enthusiasts and ability to continuously develop and successfully market new products and improvements to existing products; the introduction and success of new third-party high-performance computer hardware, particularly graphics processing units and central processing units as well as sophisticated new video games; fluctuations in operating results; the loss or inability to attract and retain key management; the impacts from geopolitical events and unrest; delays or disruptions at the Company or third-parties' manufacturing and distribution facilities; and the other factors described under the heading 'Risk Factors' in our Annual Report on Form 10-K for the year ended December 31, 2024 filed with the Securities and Exchange Commission ('SEC') and our subsequent filings with the SEC. All forward-looking statements reflect our beliefs and assumptions only as of the date of this press release. We undertake no obligation to update forward-looking statements to reflect future events or circumstances. Our results for the quarter ended March 31, 2025 are also not necessarily indicative of our operating results for any future periods. Use and Reconciliation of Non-GAAP Financial Measures To supplement the financial results presented in accordance with GAAP, this earnings release presents certain non-GAAP financial information, including adjusted operating income (loss), adjusted net income (loss), adjusted net income (loss) per diluted share and adjusted EBITDA. 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 adjusted operating income (loss), adjusted net income (loss), adjusted net income (loss) per share and adjusted EBITDA 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 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 it 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 revenue, 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 attached schedules. We calculate these non-GAAP financial measures as follows: Adjusted operating income (loss), non-GAAP, is determined by adding back to GAAP operating income (loss), the impact from amortization, stock-based compensation, one-time costs related to legal and other matters, acquisition and related integration costs, restructuring and other charges, and acquisition accounting impact related to recognizing acquired inventory at fair value. Adjusted net income (loss), non-GAAP, excludes the impact from amortization, stock-based compensation, one-time costs related to legal and other matters, acquisition and related integration costs, restructuring and other charges, acquisition accounting impact related to recognizing acquired inventory at fair value and the reversal of bargain purchase gain on business acquisition recognized in prior year, as well as the related tax effects of each of these adjustments. Adjusted net income (loss) per diluted share, non-GAAP, is determined by dividing adjusted net income (loss), non-GAAP by the respective weighted average shares outstanding, inclusive of the impact of other dilutive securities. Adjusted EBITDA excludes the impact from amortization, stock-based compensation, one-time costs related to legal and other matters, depreciation, interest expense, net, acquisition and related integration costs, restructuring and other charges, acquisition accounting impact related to recognizing acquired inventory at fair value, and the reversal of bargain purchase gain on business acquisition recognized in prior year, and tax expense (benefit). 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. Corsair Gaming, Inc. Segment Information (Unaudited, in thousands, except percentages) Three Months Ended March 31, 2025 2024 Net revenue: Gamer and Creator Peripherals $ 111,973 $ 106,973 Gaming Components and Systems 257,777 230,284 Total Net revenue $ 369,750 $ 337,257 Gross Profit: Gamer and Creator Peripherals $ 46,414 $ 43,643 Gaming Components and Systems 55,948 42,996 Total Gross Profit $ 102,362 $ 86,639 Gross Margin: Gamer and Creator Peripherals 41.5 % 40.8 % Gaming Components and Systems 21.7 % 18.7 % Total Gross Margin 27.7 % 25.7 % Expand Corsair Gaming, Inc. Condensed Consolidated Balance Sheets (Unaudited, in thousands) March 31, 2025 December 31, 2024 Assets Current assets: Cash and restricted cash $ 102,282 $ 109,385 Accounts receivable, net 219,216 218,648 Inventories 276,837 259,979 Prepaid expenses and other current assets 35,024 35,376 Total current assets 633,359 623,388 Restricted cash, noncurrent 247 246 Property and equipment, net 28,448 29,742 Goodwill 355,002 354,222 Intangible assets, net 154,943 164,319 Other assets 67,458 63,912 Total assets $ 1,239,457 $ 1,235,829 Liabilities Current liabilities: Debt maturing within one year, net $ 12,267 $ 12,229 Accounts payable 240,114 207,215 Other liabilities and accrued expenses 164,800 176,869 Total current liabilities 417,181 396,313 Long-term debt, net 136,391 161,310 Deferred tax liabilities 7,360 7,379 Other liabilities, noncurrent 55,233 51,375 Total liabilities 616,165 616,377 Temporary equity Redeemable noncontrolling interest 14,535 15,149 Stockholders' equity Common stock and additional paid-in capital 680,027 667,627 Accumulated deficit (68,832 ) (58,765 ) Accumulated other comprehensive loss (2,438 ) (4,559 ) Total stockholders' equity 608,757 604,303 Total liabilities, temporary equity and stockholders' equity $ 1,239,457 $ 1,235,829 Expand Corsair Gaming, Inc. Condensed Consolidated Statements of Cash Flows (Unaudited, in thousands) Three Months Ended March 31, 2025 2024 Cash flows from operating activities: Net loss $ (10,317 ) $ (11,029 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Stock-based compensation 9,322 7,691 Depreciation 3,373 3,087 Amortization 9,782 9,515 Reversal of bargain purchase gain on business acquisition recognized in prior year 2,581 — Deferred income taxes (1,016 ) (6,059 ) Other 3,031 758 Changes in operating assets and liabilities: Accounts receivable 201 46,928 Inventories (22,237 ) (12,101 ) Prepaid expenses and other assets 2,247 4,437 Accounts payable 34,253 (47,962 ) Other liabilities and accrued expenses (12,470 ) (21,582 ) Net cash provided by (used in) operating activities 18,750 (26,317 ) Cash flows from investing activities: Purchase of property and equipment (3,072 ) (2,520 ) Purchase price adjustment related to business acquisition — 1,041 Net cash used in investing activities (3,072 ) (1,479 ) Cash flows from financing activities: Repayment of debt (25,000 ) (15,000 ) Payment of deferred and contingent consideration — (4,942 ) Proceeds from issuance of shares through employee equity incentive plans 3,440 2,351 Payment of taxes related to net share settlement of equity awards (390 ) (398 ) Dividend paid to noncontrolling interest (304 ) (1,960 ) Net cash used in financing activities (22,254 ) (19,949 ) Effect of exchange rate changes on cash (526 ) (636 ) Net decrease in cash and restricted cash (7,102 ) (48,381 ) Cash and restricted cash at the beginning of the period 109,631 178,564 Cash and restricted cash at the end of the period $ 102,529 $ 130,183 Expand Corsair Gaming, Inc. GAAP to Non-GAAP Reconciliations Non-GAAP Operating Income Reconciliations (Unaudited, in thousands, except percentages) Three Months Ended March 31, 2025 2024 Operating Loss - GAAP $ (2,263 ) $ (10,219 ) Amortization 9,782 9,515 Stock-based compensation 9,322 7,691 One-time costs related to legal and other matters — 6,414 Acquisition and related integration costs 2,185 702 Restructuring and other charges 1,095 1,126 Acquisition accounting impact related to recognizing acquired inventory at fair value 515 169 Adjusted Operating Income - Non-GAAP $ 20,636 $ 15,398 As a % of net revenue - GAAP -0.6 % -3.0 % As a % of net revenue - Non-GAAP 5.6 % 4.6 % Expand Corsair Gaming, Inc. GAAP to Non-GAAP Reconciliations Non-GAAP Net Income and Net Income Per Share Reconciliations (Unaudited, in thousands, except per share amounts) Three Months Ended March 31, 2025 2024 Net loss attributable to common stockholders of Corsair Gaming, Inc. (1) $ (10,067 ) $ (12,540 ) Less: Change in redemption value of redeemable noncontrolling interest 392 (975 ) Net loss attributable to Corsair Gaming, Inc. (10,459 ) (11,565 ) Add: Net income attributable to noncontrolling interest 142 536 Net Loss - GAAP (10,317 ) (11,029 ) Adjustments: Amortization 9,782 9,515 Stock-based compensation 9,322 7,691 One-time costs related to legal and other matters — 6,414 Acquisition and related integration costs 2,185 702 Restructuring and other charges 1,095 1,126 Acquisition accounting impact related to recognizing acquired inventory at fair value 515 169 Reversal of bargain purchase gain on business acquisition recognized in prior year 2,581 — Non-GAAP income tax adjustment (2,844 ) (5,072 ) Adjusted Net Income - Non-GAAP $ 12,319 $ 9,516 Diluted net income (loss) per share: GAAP $ (0.10 ) $ (0.12 ) Adjusted, Non-GAAP $ 0.11 $ 0.09 Weighted-average common shares outstanding - Diluted: GAAP 105,240 103,563 Adjusted, Non-GAAP 107,367 106,530 (1) Numerator for calculating net income (loss) per share-GAAP Expand Corsair Gaming, Inc. GAAP to Non-GAAP Reconciliations Adjusted EBITDA Reconciliations (Unaudited, in thousands, except percentages) Three Months Ended March 31, 2025 2024 Net Loss – GAAP $ (10,317 ) $ (11,029 ) Amortization 9,782 9,515 Stock-based compensation 9,322 7,691 One-time costs related to legal and other matters — 6,414 Depreciation 3,373 3,087 Interest expense, net of interest income 2,046 2,126 Acquisition and related integration costs 2,185 702 Restructuring and other charges 1,095 1,126 Acquisition accounting impact related to recognizing acquired inventory at fair value 515 169 Reversal of bargain purchase gain on business acquisition recognized in prior year 2,581 — Income tax (benefit) expense 2,061 (1,777 ) Adjusted EBITDA - Non-GAAP $ 22,643 $ 18,024 Adjusted EBITDA margin - Non-GAAP 6.1 % 5.3 % Expand
