CORSAIR expects loss of $11 million in 2022Q2
With the recent global inflation and uncertain economic outlook and other factors, the demand in the consumer market has weakened, and many PC manufacturers have begun to be affected. Recently, quite a number of manufacturers have significantly reduced their orders and lowered their expected sales in the coming period of time.
According to TechPowerup, Corsair expects to lose $10 million to $11 million across its entire business line in 2022Q2, including its memory, coolers, SSDs, peripherals and even displays. It is understood that Corsair’s sales were much lower than expected, resulting in a large inventory backlog.
Corsair said that it expects business to gradually recover in the third quarter of 2022, with a larger recovery, mainly due to the sales of some PC masterpieces. With the increase in sales, Corsair said it will achieve 35% year-on-year growth in the second half of 2022, which should help improve the financial situation. CORSAIR announced on Friday that it would sell $300 million in securities, including common stock, preferred stock, debt, and warrants, to address recent funding problems.
