NEW YORK, May 21, 2026, 11:00 EDT
Corsair Gaming shares fell Thursday morning, lagging the tech sector. The gaming hardware company is set for another investor update but doubts around PC-component demand haven’t faded. Just before 11 a.m. in New York, Corsair was down 1.5% at $6.78. Invesco QQQ Trust traded about 0.5% lower and the iShares Russell 2000 ETF was little changed.
Corsair on Wednesday said CFO Gordon Mattingly is set to meet institutional investors at Baird’s 2026 Global Consumer, Technology & Services Conference on June 4, where he’ll talk through recent earnings, business trends, and possible growth.
Corsair management gets a tight window to defend the first-quarter margin rebound that hasn’t steadied the stock. MarketScreener data shows Corsair shares dropped around 8% over the last five sessions, but they’re still up roughly 14% for the year.
Corsair posted March-quarter revenue of $354.5 million, down 4.1%. Gross margin rose to 32.7% from 27.7%. Net income came in at $13.1 million, swinging from a $10.3 million loss a year ago.
Gamer and Creator Peripherals revenue climbed 10.1%, with growth from peripherals, streaming, and sim-racing gear. But Gaming Components and Systems dropped 10.3% as the self-built PC market slowed. No big graphics-card upgrade cycle and high memory prices pulled down demand. The split was clear.
CEO Thi La said “near-term demand headwinds in DIY components are real.” Mattingly said Corsair is turning into “a more profitable, more resilient business.” The company is guiding for second-quarter revenue of $295 million to $320 million and adjusted EBITDA of $12.5 million to $15.5 million.
Corsair is using some cash to buy back stock. The board approved its first $50 million buyback in January, with about 0.9 million shares repurchased for $5.0 million in Q1. That leaves $45.0 million still authorized. Buybacks cut the share count and can raise per-share numbers, but they do not add end-market demand.
Rival Logitech, which is bigger in mice, keyboards, and gaming gear, posted stronger-than-expected quarterly sales this month, including a 12% jump in gaming products. That shows gaming accessory demand is out there. But Corsair has more tied up in memory and PC builds, which brings more cycle risk.
Margin gains might not last long. Corsair warned that seasonality, tariffs, trade policy, supply constraints, chip shortages, GPU and CPU launch timing and shifts in customer behavior could move sales. Tariffs have pressured peripheral gross margin, partly cancelling out improvement in components, the company said.
Baird watchers are tuned for updates on three fronts: if the full-year guidance sticks, if memory momentum holds up as pricing changes, and if AI workstations or Fanatec sim racing can do better than just patching over slow self-built PC demand. For now, Thursday’s session seemed less a vote against the turnaround and more market nerves waiting on another solid quarter.
