Razer has returned from its $17.7 million half-year loss last year, driven by its hardware division, which brought in $677 million in revenue.
Singapore-headquartered Razer has ended the first half of the year with a return to profit after reporting a $17.7 million loss last year. For the six months ended 30 June 2021, the company posted $31.3 million in net profit, attributing the $49 million turnaround to its « strong brand position and intensely loyal user base ». « Razer had a phenomenal first half of the year, » Razer co-founder and CEO Min-Liang Tan said. « 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. » Revenue for the period was $752 million, up 68%, comprised mostly of hardware, which grew 77% year-on-year to over $677 million. Adjusted EBITDA spiked from $3.1 million to tip $59.5 million. Total user accounts increased 50% year-on-year to approximately 150 million, with monthly active users surging by over 51.4%. The company attributed this increase to strong growth across all software offerings, boosted by increases in gaming, esports, and live-streaming activities. Services business, comprising of Razer Gold and Razer Fintech, grew 13.8% year-on-year to $72.8 million during the half. Gross margin was almost 50% and contributed 15% of the group’s gross profit in the reported period. Razor Gold recorded a 13.8% year-on-year increase in total payment volume, driven primarily by the increase in the number of transactions conducted through the Razer Gold platform. As of 30 June 2021, Razer Gold recorded approximately 30 million registered users, across 130 countries, an increase of over 25% when compared to the year prior.
