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 Razer Announces 2019 Full Year Financial Results

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 Revenues Reached Record High Of US$820.8M

Adjusted Ebitda Breakeven in Second Half of 2019 (Excluding Exited Mobile Handset Business)

Continued Breakthrough of Services Business

Robust Balance Sheet With No Debt and Cash of Over US$500 Million

HONG KONG HONG KONG–(BUSINESS WIRE)–Razer™ (“Razer” or the “Company”, Hong Kong Stock Code: 1337), the leading global lifestyle brand for gamers, announces its annual results for the year ended December 31, 2019 (“FY2019”).

“2019 was another strong year for Razer as revenues reached a record high of US$820.8 million, and we achieved adjusted EBITDA breakeven in the second half of the year. Our core gaming ecosystem business saw broad based growth across all business segments of hardware, software and services, while we continued to scale our new growth initiatives with ongoing investments,” said Min-Liang Tan, Co-Founder and CEO of Razer.

“Our business remains on track to maintain its growth trajectory and deliver on its long-term strategy, underpinned by our ecosystem of hardware, software and services. Our disciplined focus on cost management leaves us confident in our ability to drive further improvements to our operations. The fundamentals of our business remain robust. We have no debt and our strong cash position allows us to weather challenging global economic conditions such as the current uncertainty that has resulted from the COVID-19 outbreak,” he added.

HIGHLIGHTS FOR FY2019

COMPANY

CORE SEGMENTS

Hardware

Software

Services

GROWTH INITIATIVES

Mobile/Cloud gaming

Razer Fintech

Esports

OUTLOOK

CORE SEGMENT

GROWTH INITIATIVES

INITIAL ASSESSMENT OF COVID-19

First quarter of 2020 :

Full year of 2020 :

OVERALL

ABOUT RAZER

Razer™ is the world’s leading lifestyle brand for gamers.

The triple-headed snake trademark of Razer is one of the most recognized logos in the global gaming and esports communities. With a fan base that spans every continent, the company has designed and built the world’s largest gamer-focused ecosystem of hardware, software and services.

Razer’s award-winning hardware includes high-performance gaming peripherals and Blade gaming laptops.

Razer’s software platform, with over 80 million users, includes Razer Synapse (an Internet of Things platform), Razer Chroma (a proprietary RGB lighting technology system), and Razer Cortex (a game optimizer and launcher).

In services, Razer Gold is one of the world’s largest virtual credit services for gamers, and Razer Fintech is one of the largest offline-to-online digital payment networks in SE Asia.

Founded in 2005 and dual-headquartered in Irvine and Singapore, Razer has 16 offices worldwide and is recognized as the leading brand for gamers in the USA, Europe and China. Razer is listed on the Hong Kong Stock Exchange (Stock Code: 1337).


1 On a full-year basis, Adjusted EBITDA loss narrowed by 37.3% to US$29.4 million. 2019 will be the last year that the Company will see the impact of its mobile handset business on its results as it successfully pivoted its mobile gaming strategy by exiting the mobile handset business towards growing the mobile/cloud gaming (peripherals, software and services) business. The Company achieved breakeven in the second half of 2019 on an Adjusted EBITDA basis (if EBITDA was adjusted to exclude the mobile handset business that it exited).
2 GFK, NPD, Company data
3 15”gaming laptops at US$1,800 and above according to NPD
4 GFK, NPD, Company data
5 Newzoo

Contacts

Evonne Xiao
evonne.xiao@finsbury.com

Fonte BUSINESS WIRE

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