Corsair Gaming NASDAQ: CRSR reported second-quarter results marked by higher gross margins, improved profitability and substantially stronger operating cash flow, while raising its full-year 2026 outlook. The company said growth in Gamer and Creator Peripherals, including sim racing and creator products, helped offset continued pressure on DIY PC component demand tied to elevated memory prices. Second-quarter revenue totaled $314.3 million, down 2% from a year earlier but above the assumed midpoint of the company’s guidance range. Gross profit rose 21% year-over-year to $104.3 million, while gross margin expanded 640 basis points to a company-record 33.2%. GAAP operating income was $7.6 million, compared with an operating loss of $16.9 million in the prior-year quarter. GAAP net income was $9.1 million, or $0.06 per diluted share, compared with a net loss of $20.3 million, or $0.16 per share, a year earlier. Adjusted EBITDA increased to $30.8 million from $8.1 million, and non-GAAP diluted earnings per share rose to $0.23 from $0.01. Tariff Refund Boosted Quarterly Results Chief Financial Officer Gordon Mattingly said the company recognized approximately $15.6 million in benefits to GAAP gross profit from refunds of tariffs previously paid under the International Emergency Economic Powers Act. The refunds contributed about 500 basis points to gross margin. The tariff-related benefit added roughly $14.9 million to net income, $14.3 million to adjusted EBITDA and $0.13 to non-GAAP diluted EPS, Mattingly said. Excluding the benefit, Corsair would have reported a GAAP net loss of $5.7 million and a GAAP loss per share of $0.07. Adjusted EBITDA would have been $16.6 million and non-GAAP EPS would have been $0.09, both above the high end of the company’s prior guidance ranges. Mattingly said Corsair is materially complete with the tariff refund process, though immaterial administrative adjustments or interest could be received in future periods. Peripherals Segment