Corsair Gaming, Inc.

Good afternoon and welcome to Corsair Gaming's second quarter 2026 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's prepared remarks, we will conduct a question and answer session. To ask a question at that time, please press star, then 1 on your telephone keypad. I would now like to turn the call over to David Pascal, Investor Relations. Please go ahead.

Thank you, Operator. Good afternoon, everyone, and thank you for joining us today. With me on the call are Thi La, our Chief Executive Officer, and Gordon Mattingly, our Chief Financial Officer. Before we begin, I'd like to remind you that today's discussion contains forward-looking statements, including but not limited to our guidance for the third quarter in full year 2026, Potential future growth in certain product categories and other statements that are not historical in nature, are predictive in nature, or depend upon or refer to future events or conditions. These forward-looking statements are based on our current assumptions and expectations. Actual results could differ materially. Please refer to the risk factors in our most recent annual report on Form 10-K filed with the SEC, our subsequent SEC filings, and today's earnings press release for a full discussion of the factors that could cause our actual results to differ. We undertake no obligation to update these forward-looking statements. Additionally, we will discuss certain non-GAAP financial measures today. Definitions and reconciliations to the most comparable GAAP measures are included in our earnings press release and the investor presentation posted to our investor relations website at ir.corsair.com. With that, I'd like to now turn the call over to Corsair's CEO, Thi La. Thi, please go ahead.

Thank you, David, and good afternoon, everyone. We are pleased to report strong results for Q2. Our core business outperformed expectations, and we are raising our outlook for the rest of the year. Based on our recent performance, Corsair is becoming a more profitable, more cash-generative company. We are improving the quality of our revenue, gaining share in the right categories, and building platforms for growth beyond the traditional PC cycle. I want to share the five numbers that tell the story. Gross profit for the quarter grew 21% year over year. Gross margin hit a company record of 33.2%. Gamer and creator peripherals revenue for the quarter grew 13% year-over-year. Gross profit in that segment grew 27% year-over-year, and gross margin reached 44.9%. We cut operating expenses for the quarter by 6.1 million year-over-year, so more of our gross profit gains reached the bottom line. Operating cash flow for the quarter grew 7%. 148% year-over-year to $74.8 million. And we are raising our full-year 2026 outlook, which Gordon will review in a few minutes. Let's talk about gamer and creative peripheral segment. This segment was, again, our standout. Revenue grew 13% year-over-year to $115.9 million. Gross profit grew 27% year-over-year to $52 million. Gross margin expanded to 44.9%. This is the mixed shift we've been working toward, faster growth in categories that carry stronger margins and deeper customer relationships. Benetech remained a key driver, supported by new products, wider distribution, and strong direct-to-consumer sales. Fanatec has also carried gross margins above the segment average, so its growth improved both scale and quality. We are building on that with the acquisition of TrackRacer, a complementary sim racing hardware brand with a strong direct-to-consumer model. It broadens our product range, extends our distribution, and brings experienced leadership into our sim solution group. Our licensing strategy is also growing the Fanatec platform. We recently announced a partnership with Nissan, adding another global automotive brand alongside our existing motorsport relationships. These partnerships reinforce Fanatec as the premium platform for sim racing. Elgato, Stream Deck, and Marketplace are evolving from creative tools into a broader workflow platform. In the first half of 2026, Elgato Marketplace revenue and transactions each more than doubled year over year. Product submissions grew more than 300%. The marketplace added more than 500,000 new accounts, which is impressive growth on all metrics. The flywheel is working. More users attract more developers, more products increase the value of Stream Deck, and that value drives both hardware demand and recurring revenue. AI-assisted development is making it easier to build new profiles and plugins, which we believe should speed this up further. This quarter, we made a minority investment in Bitfocus, a professional show control software company already integrated with Stream Deck. This extends Elgato from the creator desktop into broadcast, live events, and control rooms. These are all higher-value professional environments with a coordinated go-to-market path. As part of the agreement, Corsair and Bitfocus also established a partnership under which Stream Deck Studio and the broader Stream Deck range will serve as preferred and primary control services across Bitfocus customer deployments. We are excited to build on our relationship and expand our growth opportunities. In the gaming components and systems segment, revenue in this segment declined 9% year-over-year to $198.5 million, as elevated memory pricing continues to delay DIY PC builds. We believe this demand is deferred, not lost. When builders have historically delayed an upgrade, the need didn't disappear. It built up, and it returned as pricing and the product cycle normalized. Even so, segment gross profit grew 17% year-over-year to $52.2 million, and gross margin expanded 570 basis points year-over-year to 26.3%. Memory net revenue grew 17% year-over-year on strong supply chain execution and share gains in North America. Our memory inventory is now properly sized and supply availability remains adequate. System was a bright spot too, with solid year-over-year growth in AI workstations. This isn't a pivot. It's a natural extension of capabilities we've built over decades in high-performance system design, customization, overclocked memory, advanced water cooling and power delivery to support the hottest GPUs. We are targeting the roughly 22 billion desktop AI PC market focused first on prosumers and small and medium businesses that want local compute, data security, and lower cloud cost. The significance of this opportunity to the company's operation remains early and GPU allocation is tight. Accordingly, we believe revenue contribution will pick up in the latter part of 2027 and beyond. Looking ahead, our investments remain focused on strategic revenue growth with accretive margin, ecosystem value with recurring revenue, and workstation market opportunity. This is why we chose to direct capital toward M&A and strategic partnerships this quarter, including TrackRacer and BitFocus, which we believe will extend our platforms and further diversify our business. Thank you very much. I will turn it over to Gordon to take you through the financials. Gordon.