MILPITAS, Calif. - Corsair Gaming Inc. (NASDAQ:CRSR), known for its high-performance gaming gear, has partnered with Activision's Call of Duty franchise to launch a series of co-branded gaming products. The collaboration, which marks the first union of these gaming giants, spans across Corsair's family of brands, including Drop, Elgato, ORIGIN PC, and SCUF Gaming.
The product lineup includes peripherals and high-end gaming PCs, all featuring Black Ops 6-themed designs. Among the released items are the HS80 RGB Wireless Headset, K65 Plus Wireless Keyboard, and M75 Wireless Mouse, all boasting advanced connectivity and premium build quality. The Vengeance series gaming PCs, SCUF Gaming's custom controllers, and Elgato's streaming accessories also join the roster.
The new range aims to cater to gamers, content creators, and PC enthusiasts with performance-focused specifications. The ORIGIN PC NEURON and EON16-X laptops are highlighted for their powerful processors, advanced graphics, and customizable options, promising an enhanced gaming experience.
Corsair's President and COO, Thi La, expressed excitement about delivering premium performance for Call of Duty players, while Brooke Carpenter from Activision underscored the aim to fuel the fandom with top-tier products.
The collaboration's product launch coincides with the release of Call of Duty: Black Ops 6, with some items available now and others up for pre-order. Further details on the partnership will be disclosed over time.
Corsair, a global leader in high-performance gear, continues to offer a wide range of products for the gaming community, from PC components to streaming equipment. The partnership with Call of Duty is expected to solidify its position in the gaming market by appealing to fans of one of the most successful video game franchises.
The information is based on a press release statement from Corsair.
In other recent news, Corsair Gaming's financial performance for the second quarter of 2024 showed a decrease in net revenue to $261.3 million, down from $325.4 million in the same period last year. However, the company's gamer and creator peripheral segment experienced a 20% year-over-year growth, attributed to successful product launches. Baird has adjusted its outlook on Corsair, reducing the price target but maintaining a Neutral rating. This follows Corsair's acquisition of Fanatec, a move that strengthens its standing in the sim racing peripherals market. Additionally, Corsair has entered into an exclusive multi-year partnership with the Call of Duty franchise, promising a comprehensive gaming experience. The company has revised its full-year 2024 outlook, expecting revenue between $1.25 billion and $1.35 billion, and adjusted EBITDA between $60 million and $75 million. These recent developments reflect Corsair's strategic moves to diversify its product offerings and enhance its competitive edge in the gaming hardware sector.
InvestingPro Insights
As Corsair Gaming Inc. (NASDAQ:CRSR) embarks on this exciting partnership with Activision's Call of Duty franchise, investors may be curious about the company's financial health and market performance. According to InvestingPro data, Corsair's market capitalization stands at $687.37 million, reflecting its significant presence in the gaming hardware industry.
Despite the promising collaboration, Corsair faces some challenges. The company's revenue for the last twelve months as of Q2 2024 was $1,379.04 million, with a concerning revenue growth of -0.78% over the same period. This aligns with an InvestingPro Tip indicating that analysts anticipate a sales decline in the current year.
On a positive note, an InvestingPro Tip suggests that net income is expected to grow this year, which could be partly attributed to strategic moves like the Call of Duty partnership. Additionally, the company's liquid assets exceed short-term obligations, indicating a stable short-term financial position that could support the rollout of new product lines.
Investors should be aware that Corsair's stock has experienced significant volatility. The 1-month price total return shows a strong 19.44% gain, possibly reflecting market optimism about the new partnership. However, the 6-month and 1-year price total returns are -41.76% and -51.25% respectively, suggesting longer-term challenges.
For those considering an investment in Corsair, it's worth noting that InvestingPro offers 12 additional tips for CRSR, providing a more comprehensive analysis of the company's prospects. These insights could be particularly valuable as investors assess the potential impact of the Call of Duty collaboration on Corsair's future performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.