Corsair Gaming, Inc.
CRSR Technology Computer Hardware
Corsair Gaming, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $1.5 billion, up 11.9% from fiscal 2024. In the quarter to June 2026, revenue fell 1.80%, EPS grew 153.3%, free cash flow grew 162.3% and total debt fell 4.92%, each against the same quarter a year earlier. Insiders bought in the last twelve months.
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Corsair Gaming, Inc. (CRSR) Beneish M-score
Corsair Gaming, Inc.'s Beneish M-score for fiscal 2025 is −2.75; values above −1.78 are the model's flag for possible earnings manipulation — a statistical screen, not a finding.
Beneish M-score, annual
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Annual newest first
| Period | Beneish M-score | Change (points) |
|---|---|---|
| FY2025 | −2.75 | 0.34 |
| FY2024 | −3.09 | (0.27) |
| FY2023 | −2.82 | 0.04 |
| FY2022 | −2.86 | (0.71) |
| FY2021 | −2.15 | 0.30 |
| FY2020 | −2.45 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Days’ sales in receivables index | 0.96 | — | 0.88 | |
| Gross margin index | 0.86 | — | 0.45 | |
| Asset quality index | 0.94 | — | 0.38 | |
| Sales growth index | 1.12 | — | 1.00 | |
| Depreciation index | 1.01 | — | 0.12 | |
| SG&A index | 1.02 | — | −0.18 | |
| Total accruals to total assets | (0.05) | — | −0.24 | |
| Leverage index | 0.97 | — | −0.32 | |
| Beneish M-score | Low — no pattern the model associates with manipulation | −2.75 | ||
How the Beneish M-score works
M = −4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI (Beneish, 1999): eight changes in the accounts from one fiscal year to the next, which the model weighs for the pattern seen in companies that later restated their earnings. Higher is worse.
| below −2.22 | Low — no pattern the model associates with manipulation |
|---|---|
| −2.22 to −1.78 | Elevated |
| above −1.78 | Flagged by the model |
−1.78 is the cut-off usually quoted from the paper, −2.22 a common conservative one. A statistical screen, not a finding of wrongdoing.
When asset quality, depreciation or SG&A cannot be worked out, that index is set to 1, as Beneish did, and the breakdown says so; with all three missing there is no score. Depreciation includes amortisation, and asset quality leaves out securities. Not worked out for banks, insurers and REITs.
Beneish M-score against peers
| Company | Beneish M-score |
|---|---|
| QMCO Quantum Corporation compare | −4.1× |
| CRCT Cricut, Inc. compare | −3.9× |
| QBTS D-Wave Quantum Inc. compare | −2.9× |
| SSYS Stratasys, Ltd. compare | −2.9× |
| CRSR Corsair Gaming, Inc. | −2.7× |
| RGTI Rigetti Computing, Inc. compare | −2.4× |
| DDD 3D Systems Corporation compare | −1.3× |
| UMAC Unusual Machines, Inc. compare | 11.3× |
| QUBT Quantum Computing Inc. compare | — |
What Beneish M-score is
The Beneish M-Score combines eight year-on-year changes in the accounts into a statistical screen for patterns seen in companies that overstated earnings.
−4.84 + 0.920 × DSRI + 0.528 × GMI + 0.404 × AQI + 0.892 × SGI + 0.115 × DEPI − 0.172 × SGAI + 4.679 × TATA − 0.327 × LVGI