Invest for growth to achieve long-term growth ambitions
HONG KONG SAR - Media OutReach - 25 August 2021 - Razer™ ("Razer" or the "Company", together with its subsidiaries, the "Group", Hong Kong Stock Code: 1337), the leading global lifestyle brand for gamers, announces unaudited financial results for the six months ended 30 June 2021 ("1H 2021").
"Razer had a phenomenal first half of the year. In addition to the ongoing growth in the broader industry that benefitted our core business segments, Razer's stellar results were driven by our strong brand position and intensely loyal user base, our proven capabilities in rolling out innovative, category-defining products and services, and effective operational execution," said Min-Liang Tan, Co-Founder and CEO of Razer.
"Looking ahead, the robust momentum in our business, strong fundamentals and the exciting opportunities we see in the market, give us the confidence that it is the right timing to further scale our business. We intend to reinvest part of our full year profits into high potential areas such as Razer Gold and Razer Fintech, as well as step up investments in new growth opportunities in the Razer ecosystem. We believe these strategic investments will allow us to build a greater platform for Razer to achieve long-term growth ambitions and deliver outstanding value to shareholders."
Key highlights for 1H 2021 earnings
- Record-high Revenue of US$752.0 million with 68.0% year-on-year growth driven by robust demand, market share leadership for the Hardware business, and ongoing growth in the Services segment.
- Gross Profit Margin improved to 27.1%, as compared with 22.0% for the same period in 2020, primarily due to improving margins in the Hardware segment.
- Adjusted EBITDAhttp://www.razer.com/go-green.
* The Group defines adjusted EBITDA as profit/(loss) from operations added back with depreciation and amortisation, share-based compensation expense, restructuring expense, and merger and acquisitions expense.
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