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Turtle Beach Corporation, an audio and gaming technology company, develops and markets audio and gaming accessory products under the Turtle Beach brand in the Americas, Europe, the Middle East, and the Asia Pacific. The company offers headsets, controllers, keyboards, mice, flight and racing simulation hardware, microphones, and fight sticks; accessories, such as mousepads, headset stands and cases, and chargers; and replacement parts for transmitters, headsets, mice, keyboards, controllers, and flight simulation products. Its products are used with video game and entertainment consoles, handheld consoles, personal computers, tablets, and mobile devices. The company serves professional streamers, content creators, and esports gamers; and retailers, distributors, and online customers. Turtle Beach Corporation was founded in 1975 and is headquartered in San Diego, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $320M | $39M | $16M | $34M | 12.2% | -14.2% | -2.8% |
| 2024 | $373M | $30M | $16M | $1M | 13.4% | 44.4% | -191.5% |
| 2023 | $258M | $-12M | $-18M | $25M | -20.8% | 7.5% | -70.3% |
| 2022 | $240M | $-47M | $-60M | $-45M | -67.0% | - | - |
| 2021 | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 240.17 | 258.12 | 372.77 | 319.91 |
| Operating Revenue | - | 240.17 | 258.12 | 372.77 | 319.91 |
| Cost Of Revenue | - | 190.98 | 182.62 | 243.78 | 200.63 |
| Gross Profit | - | 49.19 | 75.50 | 128.98 | 119.28 |
| Operating Expense | - | 98.77 | 91.95 | 98.12 | 99.74 |
| Research And Development | - | 19.12 | 17.14 | 17.30 | 16.89 |
| Selling General And Administration | - | 79.65 | 74.81 | 80.82 | 82.86 |
| Total Expenses | - | 289.75 | 274.56 | 341.90 | 300.38 |
| Operating Income | - | -49.58 | -16.44 | 30.86 | 19.54 |
| Total Operating Income As Reported | - | -51.48 | -16.44 | 20.03 | 27.52 |
| EBITDA | - | -47.42 | -12 | 30.13 | 39 |
| Normalized EBITDA | - | -45.52 | -12 | 40.96 | 31.02 |
| EBIT | - | -53.23 | -16.84 | 18.74 | 26.57 |
| Interest Expense | - | 1.22 | 0.50 | 8.07 | 9.77 |
| Net Interest Income | - | -1.22 | -0.50 | -8.07 | -9.77 |
| Other Non Operating Income Expenses | - | -1.75 | -0.39 | -1.29 | -0.94 |
| Other Income Expense | - | -3.65 | -0.39 | -12.12 | 7.04 |
| Interest Expense Non Operating | - | 1.22 | 0.50 | 8.07 | 9.77 |
| Net Non Operating Interest Income Expense | - | -1.22 | -0.50 | -8.07 | -9.77 |
| Pretax Income | - | -54.45 | -17.34 | 10.67 | 16.80 |
| Tax Provision | - | 5.09 | 0.34 | -5.51 | 1.07 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | -0.40 | 0 | -2.27 | 0.51 |
| Net Income Continuous Operations | - | -59.55 | -17.68 | 16.18 | 15.73 |
| Net Income From Continuing And Discontinued Operation | - | -59.55 | -17.68 | 16.18 | 15.73 |
| Net Income From Continuing Operation Net Minority Interest | - | -59.55 | -17.68 | 16.18 | 15.73 |
| Net Income | - | -59.55 | -17.68 | 16.18 | 15.73 |
| Net Income Common Stockholders | - | -59.55 | -17.68 | 16.18 | 15.73 |
| Net Income Including Noncontrolling Interests | - | -59.55 | -17.68 | 16.18 | 15.73 |
| Normalized Income | - | -58.05 | -17.68 | 24.74 | 8.26 |
| Diluted NI Availto Com Stockholders | - | -59.55 | -17.68 | 16.18 | 15.73 |
| Basic Average Shares | - | 16.45 | 17.14 | 20.02 | 20.26 |
| Diluted Average Shares | - | 16.45 | 17.14 | 20.83 | 20.46 |
| Reconciled Depreciation | - | 5.82 | 4.84 | 11.39 | 12.43 |
| Reconciled Cost Of Revenue | - | 190.98 | 182.62 | 243.78 | 200.63 |
| Total Unusual Items | - | -1.90 | 0 | -10.83 | 7.98 |
| Total Unusual Items Excluding Goodwill | - | -1.90 | 0 | -10.83 | 7.98 |
| Special Income Charges | - | -1.90 | 0 | -10.83 | 7.98 |
| Other Special Charges | - | - | - | - | -9.40 |
| Impairment Of Capital Assets | 0 | 1.90 | 0 | 0 | - |
| Restructuring And Mergern Acquisition | - | 0 | 0 | 10.83 | 1.42 |
| General And Administrative Expense | - | 32.56 | 31.32 | 28.39 | 30.37 |
| Other Gand A | - | 32.56 | 31.32 | 28.39 | 30.37 |
| Selling And Marketing Expense | - | 47.09 | 43.49 | 52.43 | 52.48 |
| Average Dilution Earnings | 0 | - | - | - | - |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Turtle Beach Corporationthis co. | TBCH | $248M | 15.78 | 1.93 | 12.2% | 8.09 |
| Asure Software, Inc. | ASUR | $261M | -19.88 | 1.32 | -6.6% | 15.09 |
| Conduent Incorporated | CNDT | $259M | -1.52 | 0.38 | -24.8% | 10.57 |
| Blaize Holdings, Inc. | BZAI | $258M | -1.24 | 6.60 | -530.5% | -2.37 |
| CS Disco, Inc. | LAW | $251M | -5.67 |
| - |
| - |
| - |
| - |
| - |
| - |
| 1.96 |
| -34.6% |
| -5.37 |
| Richardson Electronics, Ltd. | RELL | $251M | -219.31 | 1.60 | -0.7% | 32.74 |
| Aviat Networks, Inc. | AVNW | $250M | 186.71 | 0.95 | 0.5% | 15.93 |
| Commerce.com, Inc. | CMRC | $235M | -12.14 | 5.97 | -49.1% | 55.05 |
| Inseego Corp. | INSG | $228M | 272.12 | -56.39 | -20.7% | 18.42 |
| Peer Median | - | -3.59 | 1.46 | -22.8% | 15.51 | |