Razer, known as a manufacturer of gaming peripherals, computers and related products, has released its fiscal 2020 results.
Razer’s annual revenues were at an all-time high, surpassing $ 1 billion for the first time. More precisely, the company received $ 1.2 billion, which is 48.0% more than in fiscal 2019. Gross margin increased to 22.3% and the company ended the year with a net income of $ 0.8 million. The balance of funds exceeded $ 600 million, excluding liabilities.
“2020 has been a stellar year for Razer and a watershed year for business. Despite the global market uncertainty caused by the COVID-19 pandemic, the company surpassed the $ 1 billion milestone and became profitable beyond expectations. These metrics reflect brand dominance, compelling offerings across our ecosystem of hardware, software and services, and reliable performance. We intend to maintain our momentum in 2021 as we continue to strive to deliver significant revenue growth and continued profitability in 2021 and beyond, ”said Min-Liang Tan, co-founder and CEO of Razer.
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