Razer expects to break even in FY2020
This is compared to a US$83.5m loss in FY2019.
Gaming lifestyle brand Razer has announced that it is expecting to record a breakeven profit or loss on a GAAP basis for FY 2020, as compared to a loss of US$83.5m for FY2019, based on the unaudited management accounts of the company.
The expected improvement is mainly due to the “higher than expected” revenue growth, and continued improvements of its gross profit margin and in its operating expense management.
“Looking ahead, we are confident in our ability to maintain our dominant market position in hardware business, grow our software platform through expansion in user base and activity levels and continue investing to scale up our fast-growing, high-margin services business,” Razer founder Min-Liang Tan said.
The revenue of the Singapore-based company is expected to record a 40% YoY growth for FY2020 due to the broad-based growth across the Razer ecosystem of hardware, software, and services.