Corsair Gaming posts strong Q4 with 12% revenue growth and $50M buyback, eyes $1.33B-$1.47B revenue by 2026

Corsair Gaming reported a robust Q4 with 12% net revenue growth and an 84% increase in adjusted EBITDA, supported by strong fundamentals and strategic positioning for the hardware replacement cycle. The company authorized a $50 million stock buyback to enhance capital flexibility. Looking ahead, Corsair targets net revenue between $1.33 billion and $1.47 billion and adjusted EBITDA of $100 million to $115 million by 2026, focusing on higher-margin products and expanding direct-to-consumer sales. Risks include consumer cyclicality, macroeconomic pressures from the Iran conflict, and supply chain challenges, but the current valuation offers a solid margin of safety for investors.