Turtle Beach Corp TBCH
Our mission is to deliver the ultimate experience to gamers by providing high-quality, high-performance gaming accessories, including headsets, controllers, keyboards, mice, flight and racing simulation hardware, microphones, and more. For over 50 years, we have been a pioneer and key innovator in audio technology, and today we are one of the most recognized brand names in gaming. Headquartered in San Diego, California, we were incorporated in the state of Nevada in 2010, and our stock is traded on the Nasdaq Global Market under the symbol TBCH.
According to retail sales tracking data from The Circana Group ("Circana"), we have been the market share leader in console gaming headsets for 16-years running with a vast portfolio of headsets designed to be multiplatform compatible with the latest Xbox, PlayStation, and Nintendo consoles, as well as for personal computers ("PCs") and mobile and tablet devices. Our PC product portfolio includes PC gaming headsets, keyboards, mice, microphones, and other PC gaming peripherals, and we expanded our brand beyond gaming headsets to include our gaming controller product line, as well as flight simulation. In 2024, we acquired Performance Designed Products ("PDP"), another leading gaming accessory brand with a robust slate of products, including gaming controllers for all major platforms and licensing deals with popular gaming and entertainment properties.
Valuation FY2025 figures against the last close
Where the revenue comes from as reported in the latest 10-K
Revenue by geography
- America
- Europe and Middle East
- Asia Pacific
| Region | FY2025 | FY2024 | FY2023 |
|---|---|---|---|
| America | $235.7M | $284.3M | $186.3M |
| Europe and Middle East | $71.0M | $76.3M | $62.0M |
| Asia Pacific | $13.3M | $12.2M | $9.8M |
As the company reported it, from the “Segment Information - Schedule of Total Net Revenues (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $319.9M | $372.8M | $258.1M | $240.2M | $366.4M | $360.1M | $234.7M | $287.4M | $149.1M | $174.0M |
| Cost of revenue | $200.6M | $243.8M | $182.6M | $191.0M | $238.0M | $226.3M | $155.9M | $178.7M | $98.1M | $131.4M |
| Gross profit | $119.3M | $129.0M | $75.5M | $49.2M | $128.4M | $133.8M | $78.7M | $108.7M | $51.0M | $42.6M |
| R&D | $16.9M | $17.3M | $17.1M | $19.1M | $17.5M | $12.3M | $7.9M | $5.6M | $5.6M | $8.3M |
| SG&A | $30.4M | $28.4M | $31.3M | $32.6M | $31.6M | $25.6M | $21.8M | $16.7M | $15.7M | $19.6M |
| Total operating expenses | $91.8M | $109.0M | $91.9M | $100.7M | $108.0M | $84.6M | $68.3M | $54.7M | $46.2M | $120.3M |
| Operating income | $27.5M | $20.0M | -$16.4M | -$51.5M | $20.4M | $49.2M | $10.4M | $54.0M | $4.8M | -$77.7M |
| Interest expense | $9.8M | $8.1M | $504.0K | $1.2M | $383.0K | $467.0K | $929.0K | $5.3M | $7.9M | $7.4M |
| Pre-tax income | $16.8M | $10.7M | -$17.3M | -$54.5M | $20.1M | $52.5M | $11.7M | $40.9M | -$2.7M | -$87.6M |
| Income tax | $1.1M | $5.5M | $338.0K | $5.1M | $2.4M | $13.7M | $6.2M | $1.7M | $593.0K | $387.0K |
| Net income | $15.7M | $16.2M | -$17.7M | -$59.5M | $17.7M | $38.7M | $17.9M | $39.2M | -$3.2M | -$87.2M |
| EPS, basic | 0.78 | 0.81 | -1.03 | -3.62 | 1.11 | 2.62 | 1.24 | 2.90 | -0.26 | -7.18 |
| EPS, diluted | 0.77 | 0.78 | -1.03 | -3.62 | 0.97 | 2.37 | 1.04 | 2.74 | -0.26 | -7.18 |
| Shares, diluted (wtd. avg.) | 20.5M | 20.8M | 17.1M | 20.5M | 18.3M | 16.4M | 15.7M | 14.3M | 12.3M | 12.1M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $17.0M | $13.0M | $18.7M | $11.4M | $37.7M | $46.7M | $8.2M | $7.1M | $5.2M | $6.2M |
| Receivables | $76.8M | $93.1M | $54.4M | $43.3M | $36.0M | $43.9M | $44.5M | $52.8M | $50.5M | $54.6M |
| Inventory | $69.2M | $71.3M | $44.0M | $71.3M | $101.9M | $71.3M | $45.7M | $49.5M | $27.5M | $21.7M |
| Total current assets | $173.8M | $188.4M | $124.9M | $135.2M | $193.1M | $170.0M | $102.5M | $113.8M | $86.8M | $86.6M |
| Property, plant and equipment | $3.0M | $5.8M | $4.8M | $6.4M | $7.0M | $6.6M | $4.0M | $5.9M | $4.7M | $4.3M |
| Goodwill | $50.4M | $52.9M | $10.7M | $10.7M | $10.7M | $8.2M | $8.5M | $0 | $0 | $0 |
| Other intangibles | $34.3M | $42.4M | $1.7M | $2.6M | $5.8M | $5.1M | $6.0M | $1.0M | $1.4M | $1.6M |
| Total assets | $269.1M | $298.9M | $150.0M | $163.4M | $230.5M | $203.5M | $131.4M | $121.9M | $94.3M | $94.8M |
| Accounts payable | $24.9M | $34.8M | $26.9M | $19.8M | $40.5M | $42.5M | $22.5M | $17.7M | $13.5M | $11.9M |
| Short-term debt | $8.6M | $1.2M | — | — | — | — | — | — | — | — |
| Total current liabilities | $87.7M | $123.7M | $56.3M | $64.3M | $78.2M | $78.7M | $64.6M | $73.6M | $67.5M | $66.9M |
| Long-term debt | $46.3M | $45.6M | — | — | — | — | — | $0 | $27.6M | $28.3M |
| Total liabilities | $140.6M | $178.3M | $64.9M | $74.4M | $89.1M | $87.1M | $68.0M | $84.4M | $116.4M | $115.5M |
| Retained earnings | -$102.4M | -$118.1M | -$134.3M | -$116.6M | -$57.1M | -$74.8M | -$113.5M | -$131.5M | -$170.0M | -$166.8M |
| Total equity | $128.5M | $120.6M | $85.1M | $88.9M | $141.4M | $116.4M | $63.4M | $37.5M | -$22.2M | -$20.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $35.5M | $5.8M | $27.0M | -$41.8M | -$327.0K | $51.0M | $39.4M | $42.2M | $3.4M | -$1.8M |
| Depreciation and amortisation | $4.4M | $4.4M | $3.8M | $4.6M | $4.1M | $4.4M | $4.6M | $4.0M | $4.1M | $5.1M |
| Capital expenditure | $1.4M | $4.9M | $2.2M | $3.5M | $5.6M | $5.7M | $1.9M | $5.1M | $4.4M | $3.2M |
| Investing cash flow | $1.1M | -$82.2M | -$2.2M | -$3.5M | -$8.1M | -$5.7M | -$14.6M | -$5.1M | -$4.4M | -$3.2M |
| Financing cash flow | -$32.6M | $71.1M | -$17.8M | $19.7M | -$56.0K | -$7.4M | -$24.2M | -$35.1M | -$162.0K | $4.2M |
| Buybacks | $19.0M | $27.8M | $974.0K | — | $4.9M | — | $2.5M | $246.0K | $0 | $0 |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-167148.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $174.0M | $149.1M | $287.4M | $234.7M | $360.1M | $366.4M | $240.2M | $258.1M | $372.8M | $319.9M |
| Gross profit | $42.6M | $51.0M | $108.7M | $78.7M | $133.8M | $128.4M | $49.2M | $75.5M | $129.0M | $119.3M |
| Net income | -$87.2M | -$3.2M | $39.2M | $17.9M | $38.7M | $17.7M | -$59.5M | -$17.7M | $16.2M | $15.7M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Officer or director change Item 5.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Results announced Item 2.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
- Regulation FD disclosure Item 7.01
- Officer or director change Item 5.02
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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