Corsair Gaming, Inc.

Good afternoon and welcome to the Corsair Gaming's first quarter 2023 earnings conference call. As a reminder, today's call is being recorded and your participation implies consent to such recording. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. With that, I would now like to turn the call over to Ronald Van Veen, Corsair's Vice President of Finance and Investor Relations. Thank you, sir. You may begin.

Thank you. Good afternoon, everyone, and thank you for joining us for Corsair's Financial Results Conference call for the first quarter ended March 31, 2023. On the call today, we have Corsair CEO Ed Paul and CFO Michael Potter. Andy will review highlights from the quarter. Michael will then review the financials and our outlook. We'll then have time for any questions. Before we begin, allow me to provide a disclaimer regarding forward-looking statements. This goal, including the Q&A portion of the goal, may include forward-looking statements related to the expected future results of our company and, therefore, forward-looking statements. Our actual results may differ materially from our projections due to a number of risks and uncertainties. The risks and uncertainties that forward-looking statements are subject to are described in our initial release and other SEC filings. Today's remarks will also include references to non-GAAP financial measures. Additional information, including reconciliation between non-GAAP financial information to the GAAP financial information, is provided in the press release we issued after the market closed today. With that, I'll now turn the call over to Andy.

Thank you, Ronald, and welcome everyone to our earnings call. We are pleased to be off to a strong start in 2023. with a 33% improvement in adjusted EBITDA compared to the year-ago period. We're also pleased to see that enthusiast-level consumers continue to build new gaming PCs at a rate significantly above pre-pandemic levels. Recent third-party data shows that Corsair continues to gain and hold market share positions in most of our categories of components used in those gaming builds. The broader market for gaming peripherals is also holding up at a level significantly above pre-pandemic levels, although slightly behind 2022, most notably in Europe, while the US market has largely recovered. This is in line with what we have talked about on prior quarters, where Europe was impacted by the Russia-Ukraine conflict and economic weakness. From a product standpoint, we continue to drive the high level of innovation and premium quality products that enthusiasts turned to Corsair for. During Q1 2023, we started to ship our 45-inch flex OLED bendable monitor, engineered in partnership with LG. We also expanded our industry-leading gaming headset lineup with the new wireless HS65 and HS55 models. These are lightweight headsets with great gaming audio and multi-platform compatibility. We launched Corsair Build Kits, a new initiative allowing customers to skip the research and hunting for parts when building a new PC. This should grow our self-built TAM by providing an easy out-of-the-box solution for people that are interested in building a PC but without the experience to do it alone. With six different kits to start off with, the enthusiast can get everything they need to build a high-performance gaming PC, including CPU, graphics card, motherboards, and all the other components and memory made by Corsair. These kits are supported by an in-depth tutorial build videos with easy-to-follow, clear step-by-step instructions. We launched a marketplace for Stream Deck, which allows third-party plugins and applications that run on our world-famous Stream Deck to be available to our content creators directly from the Elgato website. Developers will now be able to easily access Elgato's large and rapidly growing Stream Deck installed base. We believe that these added plugins and applications will dramatically increase our installed base of Stream Deck users. We also entered into a multi-year partnership with Nick Kolchev, better known as Nick Merckx, the well-known personality in the gaming community with over 15 million followers and an average daily viewership of 60,000. Nick will exclusively play and stream using Corsair's high-performance gaming and streaming gear, including SCUF controllers, Elgato streaming hardware, and gaming PCs from Origin PC. Back to our markets, with lower-priced GPUs such as the NVIDIA 4060 and 4070 coming to the market and exciting new game titles being released this year, we're confident that the gaming market will continue to grow off the higher recent levels And we believe that with our product roadmap, Corsair can continue to grow market share in many of the new categories we are entering. Let me now turn the call over to our CFO, Michael Potter, for details on the financials. Michael, please go ahead.