Razer, the Singapore-based gaming giant, announced that its first-half revenue was at an all-time high. The company’s hardware and fintech offerings continuous growth contributed to the result.
According to Razer, the total revenue rose by 68% to US$752 million in the first half of fiscal 2021 (H1 2021), compared to US$447.5 million a year ago. The firm’s bottom line improved in the reported period, swinging to a profit of US$31.3 million from a loss of US$17 million in the first half of last year. Razer turned profitable in 2020.
In addition, the difference between sales and the cost of goods as a percentage of net sales, Razer’s gross profit margin has increased from 22% (first half of 2020) to 27.1%.
The hardware division of the company brought in US$677.3 million in revenue, according to Razer. The segment clocked a 77% growth in revenue year-on-year, having logged US$382.7 million in H1 2020. The figures in this segment include revenue from peripherals like mice, keyboards, laptops, and gaming chairs.
As for the gaming and lifestyle firm’s services segment, which includes Razer Gold and Razer Fintech, it grew by 13.8% to US$72.8 million in the first half-year. This was partly due to an increase in transactions made using Razer Gold, the company’s gaming credits system.
Razer intends to invest more in hardware research and development, new software services, new markets for Razer Gold, and a wider Southeast Asian expansion for Razer Fintech as it looks to expand across its core segments. The company expects to report “strong revenue growth and operational enhancements” in its full-year results with these plans in place.
During the time period covered by this report, Razer also formalized its 10-year environmental, social, and governance roadmap, including establishing the Razer Green Fund, a $50 million fund dedicated to environmental and sustainability startups.