Razer announces $1.6bn revenue for 2021
One of the biggest peripheral manufacturers just got bigger
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Razer, well known for their gaming mice and keyboards, has reported their full earnings for 2021 and some of the figures are truly staggering, with the CEO, Min-Liang Tan saying:
“As we navigate the uncertainties and challenges attributable to geopolitical tensions, macro environment as well as the ongoing COVID-19 pandemic, we expect the lingering industry-wide supply chain shocks to continue to have an ongoing impact on our business, with freight and logistics to remain a challenge through 2022. On the demand front, we saw a deceleration in the growth momentum for our products and services since the second half of 2021 compared to exceptional growth in the prior year, we expect this trend to continue through 2022 as a result of the high base effect seen in 2021,”
Min-Liang Tan, Co-founder and CEO of Razer
More details and quotes can be found on Razer’s official press website
Highlights of Razer earnings 2021
Razer appears to have made leaps and bounds over their financial performance last year with some impressive stats that bode very well for the future of the company. Here are some of the key figures.
- Recorded a revenue of US$1,619.6 million with 33.3% year-on-year growth.
- Gross Profit Margin increased to 24.0% from 22.3% in the prior year.
- Adjusted EBITDA (a non-GAAP measure) was US$96.1 million, an increase of 115.5% from US$44.6 million in the prior year.
- Net Profit was US$43.4 million, compared to US$0.8 million in the prior year.
Razer earnings 2021 – hardware
- Revenue grew 34.0% year-on-year to US$1,452.4 million.
- Peripherals business maintained its market-leading position in gaming peripherals across the U.S., Europe and Asia-Pacific regions, fueled by the market launch of multiple products across its flagship keyboard and mouse families.
- Made further inroads to expand its growth categories, particularly gaming chairs, console and broadcaster products.
Razer earnings 2021 – Software
- Total user accounts increased 44.1% year-on-year to approximately 177.7 million with monthly active users surging by over 30.0%.
- The increase was attributable to strong growth across its Software offerings, boosted by increases in gaming, rewarded play and livestreaming activities.
“Looking ahead, we will continue to invest into new growth areas and to build out Razer’s unique gaming ecosystem. However, before we start to see the fruits, these growth areas will take time to fully realise and it will require additional spending in our operating expenses and may affect the short- to medium-term business performance.”
Min-Liang Tan, Co-founder and CEO of Razer
The above quote hints at Razer continuing its aggressive business growth, preparing for additional spending that will affect business performance. Given Razer’s previous progress in dominating the peripheral market, we are sure that the Singapore-based tech giant has a bright future. We wont be surprised if Razer earnings continue to grow next year
