Peripheral manufacturer Razer has reported a record year in its latest earning’s results, passing the $1 billion mark in revenue for the first time ever. Razer, which currently produces numerous PC and console gaming hardware–and occasionally a credit card–reported that for the twelve months that ended on December 31, 2020, it recorded total revenue of $1.2 billion.
This made for a 48% increase when compared to the previous year, with the vast majority of its profits coming from the hardware division which saw a 51.8% year-on-year rise to $1.08 billion. Razer claims that these figures allowed it to maintain its position as a market leader in the US, Europe, China, and Asia-Pacific, while it also took “significant market share from the competition.”
For the full year, Razer posted a profit of $800,000 for the full year, which it says was ahead of all expectations. As for software, no specific revenue figures were shared but the services segment which includes Razer Fintech did reveal a revenue growth of 66.8% to $128.4 million.
Facing a number of supply constraint challenges, Razer noted that “pent up demand from consumers” helped it reach its new milestones and generate $152.9 million in operating activities. Razer currently has $600 million in its bank account and no debt to worry about.
Razer has been off to a solid start in 2021 so far with its latest offerings. The Razer Iskur gaming chair is one of the pieces of furniture on the market today for marathon sessions of play, the Huntsman V2 Analog gaming keyboard presents some exciting opportunities on PC, and in a drive to switch to 100% renewable energy by 2025, the company’s adorable Snek plushie has been a best-seller so far.