Razer records more than $1 billion in 2020 revenue

The company saw some serious growth during the pandemic.

Image via Razer

Razer, one of the world’s leading gaming peripherals manufacturers, reported a record year in 2020 by recording $1 billion in revenue, according to its latest earnings report.

In total, Razer reported that it recorded around $1.2 billion in revenue through the fiscal year that ended on Dec. 31, marking a 48-percent year-over-year growth compared to 2019. 

This was almost entirely attributed to Razer’s core hardware segment, which showed 51.8-percent growth in 2020 and accounted for more than $1 billion of that total. Razer’s core line of peripherals “maintained market leading positions” in the gaming division across the U.S., Europe, Asia-Pacific, and China. 

Razer also said its premium gaming segments, including its laptop offerings, continued its “market leading position” in the U.S. and saw strong growth in non-U.S. markets. 

“Despite the global market uncertainty caused by the COVID-19 pandemic, Razer crossed the $1 billion revenue milestone and turned profitable on a GAAP basis, ahead of all expectations” Razer co-founder and CEO Min-Liang Tan said. “This performance reflects our dominant brand position, compelling offerings across our ecosystem of hardware, software and services, and strong execution.”

Along with the massive growth for the hardware segment, Razer also recorded a 53.8-percent year-over-year growth to 123 million active monthly users across its software offerings, including the companion apps for hardware like Razer Chroma RGB. 

On the service front, Razer Gold, the company’s virtual credit for gamers, saw a 102.4-percent increase in total payment volume while expanding into new regions. And the financial technology arm of the company, Razer Fintech, posted 66.8 growth and $128.4 million as it continues to upscale. 

All of this growth happened while the company was facing supply constraints across the board, which Razer will continue to monitor moving forward.