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: George Wang - Barclays Capital Inc. - Analyst
: Hey, guys. Thanks for taking my question. Firstly, just on the self-built DIY PC kind of memory component, you guys talked about kind of recovery
pushed out in terms of the refresh, kind of now four to six years, but still expecting GPU refresh in the next six months.
Can you talk about kind of approval potential for further delay, or you guys are quite confident it should be on the horizon. Just maybe you can
give a little bit more color just on how today you forecast potential downside, or given the macro, or do you think given historical presence and
the data you are seeing should be relatively in short order?
Question: George Wang - Barclays Capital Inc. - Analyst
: Okay, great. Just a second quickly follow-up, if I may, just on the peripheral creative business. It's nice to see, almost 20% growth year over year
with nice margins. Just curious how sustainable it is? And from a kind of high level in any latest updates in terms of the consumer as it relates to
the peripherals? I mean, do you still see more white space to drive up the ASP over the next few quarters?
Question: George Wang - Barclays Capital Inc. - Analyst
: Okay, great. I will go back to the queue.
Question: Drew Crum - Stifel, Nicolaus & Company, Incorporated - Analyst
: Okay, thanks. Hey, guys. Good afternoon. So on the peripheral segment, Michael, anything to the step down in gross margin in 2Q versus 1Q, and
is the 40% you achieved in 1Q too optimistic for '24? And on the Sim Racing products that you launched back in early June, any early read, just the
receptivity you've seen for that line, and then I have a follow-up.
Question: Drew Crum - Stifel, Nicolaus & Company, Incorporated - Analyst
: Got it. Okay. And then on the components business, you discussed the new GPU is launching late in calendar '24 or early calendar '25. What is
factored into your guidance for '24 at this point? And does the timing have any bearing on 4Q, or does it not matter? Is the sale of your products
coincident with the launch of the GPUs, or is there a lag effect? Thanks.
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AUGUST 01, 2024 / 9:00PM, CRSR.OQ - Q2 2024 Corsair Gaming Inc Earnings Call
Question: Drew Crum - Stifel, Nicolaus & Company, Incorporated - Analyst
: Okay, thanks guys.
Question: Doug Creutz - TD Cowen - Analyst
: Hey, thank you. Just looking at your components and systems, margins, I think they were the lowest they've been in about five years. Could you
talk about -- elaborate on that maybe and talk about what kind of margin recovery you are baking in for the rest of the year? Thank you.
Question: Doug Creutz - TD Cowen - Analyst
: Okay. Thank you.
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AUGUST 01, 2024 / 9:00PM, CRSR.OQ - Q2 2024 Corsair Gaming Inc Earnings Call
Question: Aaron Lee - Macquarie Capital (USA) Inc. - Analyst
: Hey guys, good afternoon. Thanks for taking my question. Maybe a quick one on the competitive environment. Can you just comment on what
that looks like currently? Have you seen any competitors behave irrationally just given the softer than expected marketing conditions in the first
half?
Question: Aaron Lee - Macquarie Capital (USA) Inc. - Analyst
: Got you. That's helpful. Thank you. And then, quick follow-up, you recently announced a partnership with TD SYNNEX, which I imagine is geared
towards peripherals, maybe something like your Elgato products. So correct me if I'm wrong there, but can you just talk about that partnership
and what it can mean for your business?
Question: Aaron Lee - Macquarie Capital (USA) Inc. - Analyst
: Got you. Okay. Thank you very much.
Question: Aaron Lee - Macquarie Capital (USA) Inc. - Analyst
: Understood. Thanks for the color.
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AUGUST 01, 2024 / 9:00PM, CRSR.OQ - Q2 2024 Corsair Gaming Inc Earnings Call
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