The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Colin Sebastian - Baird - Analyst
: Great. Thanks, Michael. What was the coolest thing you saw at COMPUTEX, by the way?
Question: Colin Sebastian - Baird - Analyst
: Well, we'll ask you for the friends and family code after the presentation is over. But all right, well, we'll get back more into the products in a second,
and there's a lot to unpack here. But one of the themes at the conference this time of year obviously is the consumer spending, the discretionary
environment, so just curious and some of this you've talked about already, but what you're seeing in the discretionary spending landscape. And I
think just as important, what are your expectations built in for the rest of the year as to how that progresses?
Question: Colin Sebastian - Baird - Analyst
: And then looking at your performance in Q1 and how that carries into Q2, specifically with components and systems, that's the majority of your
revenues that's returned to growth. How would you distinguish between memory and the environment for higher-end PCs? It sounds like it's really
a rising tide for across the board.
Question: Colin Sebastian - Baird - Analyst
: When you look at the pipeline of games, and you've talked about this before as being a catalyst for a product refresh. What are you seeing in terms
of that pipeline? I mean, are we coming out of a period during the pandemic where there was a bit of a slowdown in the slate. And now we're
seeing that sort of unlock a bit?
Question: Colin Sebastian - Baird - Analyst
: So I want to nip this question on the bud around GPUs, I mean, what we hear a lot at the conference and otherwise is just the soaring demand for
GPUs relative to generative AI. But that's a bit of a different market, I think, than GPU --
Question: Colin Sebastian - Baird - Analyst
: Okay. Well, moving on then, you've talked about the upgrade cycle in both gaming and streaming as longer-term tailwinds for the company. And
I know this crosses both segments of the business, and there's also a pandemic effect, people came into the pandemic, perhaps bought a lot of
products, but has your view of that secular growth opportunity, has that changed at all versus what you were seeing before the pandemic? And
when do we get that refresh cycle of all the pandemic streamers and gamers coming back in?
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JUNE 07, 2023 / 8:20PM, CRSR.OQ - Corsair Gaming Inc at Robert W Baird Global Consumer, Technology &
Services Conference
Question: Colin Sebastian - Baird - Analyst
: I think he's right, by the way. Well, maybe sticking with peripherals, I mean that is a smaller piece of revenue, but a larger piece of profitability. So
maybe it would be helpful to talk about what are the key product drivers there, whether that's more generally or in terms of the product roadmap
as well as some of the competitive forces that you have in that market.
Question: Colin Sebastian - Baird - Analyst
: So given that on the inventory side, does the pricing environment normalize along with that?
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JUNE 07, 2023 / 8:20PM, CRSR.OQ - Corsair Gaming Inc at Robert W Baird Global Consumer, Technology &
Services Conference
Question: Colin Sebastian - Baird - Analyst
: All right. We're doing a quick survey of the room, how many people here know who NICKMERCS is, and if I'm pronouncing it correctly? Okay, decent
number. Let's talk about that. Tell us about that partnership and how this moves the needle for Corsair.
Question: Colin Sebastian - Baird - Analyst
: Yeah, he definitely brings legitimacy to the product line, so that's good. Elgato marketplace, I think this is another interesting initiative you have if
you could talk about that specifically as well as on the peripheral side, what you see as the larger opportunity within streaming.
Question: Colin Sebastian - Baird - Analyst
: You mentioned the App Store fee is at 30% like the other app stores --
Question: Colin Sebastian - Baird - Analyst
: Okay. We have about a minute and twenty seconds to answer the margin questions. So maybe I'll just -- we'll put it on one question. As revenues
return to growth, how much of that incremental revenue will you flow through versus re-invest?
Question: Colin Sebastian - Baird - Analyst
: That's a great place to stop. Michael, thank you very much.
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