Corsair Gaming Inc. (NASDAQ:CRSR) shares are trading sharply higher Friday afternoon following strong second-quarter 2026 financial results that exceeded market estimates, paired with an upgraded full-year outlook across top and bottom lines.
- Corsair Gaming stock is approaching key resistance levels. Why are CRSR shares at highs?
Strong Q2 Financial Performance and Tariff Refund Impact
For the second quarter of 2026, Corsair reported non-GAAP diluted EPS of $0.23, handily beating consensus estimates of 7 cents. Net revenue reached $314.33 million, topping expectations of $310.55 million despite a 2% year-over-year decline. Profitability was bolstered by a record GAAP gross margin of 33.2% and $30.8 million in adjusted EBITDA.
Results were aided by a $15.6 million GAAP gross profit refund from previously paid tariffs under the International Emergency Economic Powers Act.
Even when excluding this tariff benefit, non-GAAP EPS stood at 9 cents and adjusted EBITDA reached $16.6 million, both of which still exceeded the high end of the company’s guided ranges.
Upgraded Guidance and Executive Commentary
Building on its second-quarter momentum, Corsair raised its full-year 2026 financial outlook. The company now expects FY26 net revenue in the range of $1.40 billion to $1.47 billion, up from prior guidance of $1.33 billion to $1.47 billion and comparing favorably to the $1.43 billion analyst consensus.
Full-year adjusted EPS is projected to land between 85 cents and 94 cents, well above the 72 cent consensus estimate. For the third quarter of 2026, Corsair anticipates net revenue between $320 million and $350 million along with non-GAAP EPS of 9 cents to 12 cents.
Addressing the results, Chief Executive Officer Thi La highlighted that the company delivered another quarter of significant profitability improvement, driven by an improving product mix, disciplined execution, and growth in higher-margin categories.
La noted that the Gamer and Creator Peripherals segment was a standout performer, delivering 13% revenue growth supported by momentum at Fanatec and the expanding Elgato and Stream Deck ecosystems.
Chief Financial Officer Gordon Mattingly emphasized the operational leverage achieved during the quarter, pointing to a shift from a $16.9 million GAAP operating loss a year ago to $7.6 million in operating income, alongside $74.8 million generated in operating cash flow and a $6.1 million year-over-year reduction in operating expenses.
CRSR Shares Surge Friday Afternoon
CRSR Price Action: Corsair Gaming shares were up 35.82% at $14.41 at the time of publication on Friday. The stock is trading at a new 52-week high, according to Benzinga Pro data.
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