Hong Kong-listed gaming lifestyle brand Razer reported a record high revenue of US$1.2 billion ($1.61 billion) for FY2020 ended December, representing 48% growth y-o-y.
Revenue growth was driven primarily by its hardware segment, which grew 51.8% y-o-y to US$1.08 billion. The group maintained its market-leading position for gaming peripherals such as mice, keyboards, and headsets in the US, Europe, Asia-Pacific, and China.
Razer’s gross profit margin for FY2020 increased to 22.3% from 20.5% previously, driven by improving margins in the hardware segment and increased contribution of the higher-margin services segment which comprises Razer Gold and Razer Fintech. The services segment saw revenue growth of 66.8% y-o-y to US$128.4 million for FY2020, with gross profit margins of 43.8%.