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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% | - |
| 2023 | $258M | $-12M | $-18M | $25M | -20.8% | 7.5% | - |
| 2022 | $240M | $-47M | $-60M | $-45M | -67.0% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total 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 | 99.75 |
| Operating Income | -49.58 | -16.44 | 30.86 | 19.54 |
| EBITDA | -47.42 | -12 | 30.13 | 39 |
| EBIT | -53.23 | -16.84 | 18.74 | 26.57 |
| Pretax Income | -54.45 | -17.34 | 10.67 | 16.80 |
| Tax Provision | 5.09 | 0.34 | -5.51 | 1.07 |
| Net Income | -59.55 | -17.68 | 16.18 | 15.73 |
| Net Income Common Stockholders | -59.55 | -17.68 | 16.18 | 15.73 |
| Total Expenses | 289.75 | 274.56 | 341.90 | 300.38 |
| Interest Expense | 1.22 | 0.50 | 8.07 | 9.77 |
| Research And Development | 19.12 | 17.14 | 17.30 | 16.89 |
| Selling General And Administration | 79.65 | 74.81 | 80.82 | 82.86 |
| Normalized EBITDA | -45.52 | -12 | 40.96 | 31.02 |
| Normalized Income | -58.05 | -17.68 | 24.74 | 8.26 |
| Basic EPS | -3.62 | -1.03 | 0.81 | 0.78 |
| Diluted EPS | -3.62 | -1.03 | 0.78 | 0.77 |
| Tax Effect Of Unusual Items | -0.40 | 0 | -2.27 | 0.51 |
| Tax Rate For Calcs | 0.21 | 0.21 | 0.21 | 0.06 |
| Total Unusual Items | -1.90 | 0 | -10.83 | 7.98 |
| Total Unusual Items Excluding Goodwill | -1.90 | 0 | -10.83 | 7.98 |
| Net Income From Continuing Operation Net Minority Interest | -59.55 | -17.68 | 16.18 | 15.73 |
| Reconciled Depreciation | 5.82 | 4.84 | 11.39 | 12.43 |
| Reconciled Cost Of Revenue | 190.98 | 182.62 | 243.78 | 200.63 |
| Net Interest Income | -1.22 | -0.50 | -8.07 | -9.77 |
| Net Income From Continuing And Discontinued Operation | -59.55 | -17.68 | 16.18 | 15.73 |
| Total Operating Income As Reported | -51.48 | -16.44 | 20.03 | 27.52 |
| Diluted Average Shares | 16.45 | 17.14 | 20.83 | 20.46 |
| Basic Average Shares | 16.45 | 17.14 | 20.02 | 20.26 |
| Diluted NI Availto Com Stockholders | -59.55 | -17.68 | 16.18 | 15.73 |
| Average Dilution Earnings | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -59.55 | -17.68 | 16.18 | 15.73 |
| Net Income Continuous Operations | -59.55 | -17.68 | 16.18 | 15.73 |
| Other Income Expense | -3.65 | -0.39 | -12.12 | 7.04 |
| Other Non Operating Income Expenses | -1.75 | -0.39 | -1.29 | -0.94 |
| Special Income Charges | -1.90 | 0 | -10.83 | 7.98 |
| Other Special Charges | 0 | 0 | 0 | -9.40 |
| Impairment Of Capital Assets | 1.90 | 0 | 0 | 0 |
| Restructuring And Mergern Acquisition | 0 | 0 | 10.83 | 1.42 |
| Net Non Operating Interest Income Expense | -1.22 | -0.50 | -8.07 | -9.77 |
| Interest Expense Non Operating | 1.22 | 0.50 | 8.07 | 9.77 |
| Selling And Marketing Expense | 47.09 | 43.49 | 52.43 | 52.48 |
| General And Administrative Expense | 32.56 | 31.32 | 28.39 | 30.37 |
| Other Gand A | 32.56 | 31.32 | 28.39 | 30.37 |
| Operating Revenue | 240.17 | 258.12 | 372.77 | 319.91 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Turtle Beach Corporationthis co. | TBCH | $223M | 14.60↓ discount | 1.68 | 12.2% | 8.87 |
| Bakkt, Inc. | BKKT | $240M | - | 1.78 | -95.1% | -1.84 |
| Inseego Corp. | INSG | $240M | - | -56.24 | -20.7% | 43.80 |
| Blaize Holdings, Inc. | BZAI | $234M | - | 5.97 | -530.5% | -2.12 |
| M-tron Industries, Inc. | MPTI | $233M | 24.96 |
| 3.42 |
| 13.4% |
| 18.05 |
| Commerce.com, Inc. | CMRC | $230M | - | 5.79 | -49.1% | 28.41 |
| Nerdy Inc. | NRDY | $218M | - | 5.75 | -138.0% | -1.79 |
| Kaltura, Inc. | KLTR | $211M | - | 33.02 | -190.7% | 236.12 |
| MicroVision, Inc. | MVIS | $208M | - | 3.52 | -171.0% | -2.34 |
| Peer Median | - | 24.96 | 4.64 | -116.5% | 8.13 | |