News

Razer Made Over $1 Billion In Sales Last Year

Razer had a banner year in 2020, according to the company’s latest earnings results. In a filing released earlier this week, Razer noted that they’re finally a billion dollar company in terms of annual revenue.

“2020 was a stellar year for Razer and one that marked an inflection point for the business,” said Razer DEO Min-Liang Tan. “Despite the global market uncertainty caused by the COVID-19 pandemic, Razer crossed the US$1 billion revenue milestone and turned profitable on a GAAP basis, ahead of all expectations. This performance reflects our dominant brand position, compelling offerings across our ecosystem of hardware, software and services, and strong execution.”

Razer actually made $1.2 billion in revenue last year, which is up 48% compared to 2019. Also, the computer peripheral maker and gamer brand turned profitable after technically losing money due to a financial strategy that involved some pretty hefty investments.

Net profits weren’t anything to write home about at just $800,000, but some profit is better than no profit. Razer also had a positive cash flow position at $152.9 million, and best of all, no outstanding debt.

Hardware was the biggest driver of Razer’s success last year with a revenue increase from sales of mice, keyboards, headsets, and more of 51.8%. Those increased sales also came from a lot of new customers as Razer noted a 53.8% increase in new user accounts compared to the year before, bringing their total monthly active user count to 123 million.

Razer Fintech is also a big deal, at least overseas. The company’s transaction software handled $4.3 billion in commerce, which is more than double its 2019’s number.

Razer isn’t just making money, but they’re also doing it while saving the planet. Razer’s ten-year sustainability plan includes switching to renewable energy by 2025 and being 100% carbon neutral by 2030. The company also plans to save a million trees as part of its #GoGreenWithRazer campaign led by its new Sneki Snek mascot.

Next: Destiny 2 Is Changing Its Iron Banner Matchmaking So Maybe I’ll Stop Getting Mercied

  • Game News
  • Razer

Actually a collective of 6 hamsters piloting a human-shaped robot, Sean hails from Toronto, Canada. Passionate about gaming from a young age, those hamsters would probably have taken over the world by now if they didn’t vastly prefer playing and writing about video games instead.

The hamsters are so far into their long-con that they’ve managed to acquire a bachelor’s degree from the University of Waterloo and used that to convince the fine editors at TheGamer that they can write “gud werds,” when in reality they just have a very sophisticated spellchecker program installed in the robot’s central processing unit.

Source: Read Full Article