Razer Revenue Increased by 33% to $1.6 Billion in 2021
The company also reports $43 million in net profit compared to $0.8 million in 2020.
Razer has revealed its full-year financial results reporting record revenue of $1.6 billion with 33.3% year-on-year growth. According to the company, the factors that drove the increase in revenue include a higher demand in the first half of 2021 caused by the pandemic as well as a market share increase in its hardware vertical and the ongoing expansion of its services business.
Razer also reported a gross profit of $43.4 million which improved significantly compared to $800,000 generated in 2020. The company's EBITDA figure has also increased significantly – by 115.5% reaching $96.1 million. In comparison, the previous year's profits before taxes were $44.6 million.
Razer’s hardware segment delivered a 34% year-on-year growth to $1.4 billion. As reported by the company, its peripheral business maintained its market-leading position across the US, Europe, and the Asia Pacific, with a number of product launches.
For the Services segment that includes digital payment systems Razer Gold and Razer Fintech, the company reported a 26.6% year-on-year increase reaching $162.5 million. According to Razer, its gross margin was 38.5% which amounted to 16.1% of the company's gross profit.
Razer hasn't revealed a figure for its software segment, however, it shared that its Software platform saw nearly 44.1% year-on-year growth in total users reaching approximately 177.7 million, with monthly active users increasing by 30%.
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