TBCH

MKT CAP:$223M

Turtle Beach Corporation

Market Cap

$223M

Technology·Consumer Electronics·🇺🇸 United States·NASDAQ

Technology·Consumer Elec.·🇺🇸·NASDAQ

Stock Price

$11.81-$2.21 (-15.76%)

Apr 17, 2026

Company Details

Turtle Beach Corporation operates as an audio technology company in North America, Europe, the Middle East, and the Asia Pacific. It develops, commercializes, and markets gaming headset solutions for various platforms, including video game ...

CEO

Cristopher Keirn

IPO Date

Oct 5, 2010

Website

corp.turtlebeach.com

Key Metrics TTM

Revenue

$320M

-14.2% YoY

Net Income

$16M

EPS (Diluted)

$0.78

Free Cash Flow

$34M

Revenue / Share

$15.79

Gross Margin

36.7%

Operating Margin

6.9%

Net Margin

4.9%

FCF Margin

10.6%

P/S

0.7x

P/E

14.2x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Dec 30, 2025

$320M-14.2%EPS $0.77

Q4 2025

Dec 30, 2025

$119M-18.7%EPS $0.87

Q3 2025

Sep 29, 2025

$80M-14.7%EPS $0.08

Q2 2025

Jun 29, 2025

$57M-25.8%EPS -$0.14

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$47M	$14M	-$8M
Q2 22	$41M	$8M	-$21M
Q3 22	$51M	$7M	-$14M
Q4 22	$101M	$20M	-$8M
Q1 23	$51M	$14M	-$6M
Q2 23	$48M	$12M	-$16M
Q3 23	$59M	$18M	-$3M
Q4 23	$100M	$32M	$8M
Q1 24	$56M	$18M	-$6M
Q2 24	$76M	$23M	-$4M
Q3 24	$94M	$34M	$6M
Q4 24	$146M	$54M	$23M
Q1 25	$64M	$23M	$2M
Q2 25	$57M	$16M	-$6M
Q3 25	$80M	$30M	$5M
Q4 25	$119M	$48M	$21M

Valuation

Quarter	P/S	P/E
Q1 22	1.1x	151.6x
Q2 22	0.8x	—
Q3 22	0.5x	—
Q4 22	0.6x	—
Q1 23	0.7x	—
Q2 23	0.8x	—
Q3 23	0.6x	—
Q4 23	0.7x	—
Q1 24	1.4x	—
Q2 24	1.0x	—
Q3 24	1.0x	68.6x
Q4 24	1.0x	22.2x
Q1 25	0.8x	19.5x
Q2 25	0.8x	14.2x
Q3 25	0.9x	17.5x
Q4 25	0.9x	17.8x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$29M	$28M
Q2 23	-$5M	-$5M
Q3 23	-$16M	-$17M
Q4 23	$19M	$19M
Q1 24	$27M	$27M
Q2 24	-$13M	-$14M
Q3 24	-$23M	-$25M
Q4 24	$14M	$13M
Q1 25	$40M	$40M
Q2 25	-$3M	-$3M
Q3 25	-$15M	-$16M
Q4 25	$13M	$13M

Capital Expenditures

Quarter	CapEx
Q1 23	$887.0K
Q2 23	$365.0K
Q3 23	$672.0K
Q4 23	$235.0K
Q1 24	$731.0K
Q2 24	$1M
Q3 24	$1M
Q4 24	$2M
Q1 25	$166.0K
Q2 25	$330.0K
Q3 25	$673.0K
Q4 25	$250.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-49.9%	-32.0%
Q2 22	-47.4%	-19.8%
Q3 22	-39.9%	-22.4%
Q4 22	-7.8%	+5.6%
Q1 23	+10.2%	+5.4%
Q2 23	+16.2%	+1.8%
Q3 23	+15.3%	-5.1%
Q4 23	-1.3%	-16.4%
Q1 24	+8.6%	+6.3%
Q2 24	+59.4%	+26.4%
Q3 24	+59.5%	+42.6%
Q4 24	+46.8%	+34.5%
Q1 25	+14.4%	+1.3%
Q2 25	-25.8%	-21.9%
Q3 25	-14.7%	-14.6%
Q4 25	-18.7%	-20.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$2M	3.8%
Q2 23	$5M	10.4%
Q3 23	$2M	2.7%
Q4 23	$3M	3.4%
Q1 24	$1M	2.0%
Q2 24	$846.0K	1.1%
Q3 24	$1M	1.6%
Q4 24	$3M	1.9%
Q1 25	$2M	3.0%
Q2 25	$0	0.0%
Q3 25	$1M	1.7%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$5M	$6M	$11M	—
Q2 22	$5M	$13M	$12M	—
Q3 22	$4M	$6M	$11M	—
Q4 22	$4M	$8M	$14M	—
Q1 23	$4M	$7M	$10M	—
Q2 23	$4M	$13M	$10M	—
Q3 23	$4M	$5M	$11M	—
Q4 23	$4M	$6M	$13M	—
Q1 24	$4M	$6M	$9M	—
Q2 24	$5M	$7M	$14M	—
Q3 24	$4M	$6M	$14M	—
Q4 24	$5M	$9M	$16M	—
Q1 25	$4M	$8M	$12M	—
Q2 25	$4M	$8M	$13M	—
Q3 25	$4M	$8M	$13M	—
Q4 25	$4M	—	—	$22M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$24M	$0	$24M
Q2 22	$11M	$0	$11M
Q3 22	$11M	$0	$11M
Q4 22	$11M	$0	$11M
Q1 23	$21M	$0	$21M
Q2 23	$16M	$0	$16M
Q3 23	$12M	$0	$12M
Q4 23	$19M	$0	$19M
Q1 24	$18M	$0	$18M
Q2 24	$12M	$0	$12M
Q3 24	$14M	$0	$14M
Q4 24	$13M	$0	$13M
Q1 25	$12M	$0	$12M
Q2 25	$12M	$0	$12M
Q3 25	$12M	$0	$12M
Q4 25	$17M	$0	$17M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	16M	-11.3%	-10.4%
Q2 22	17M	+1.9%	-10.0%
Q3 22	17M	+0.2%	-9.8%
Q4 22	17M	+0.1%	-9.3%
Q1 23	17M	+0.1%	+2.4%
Q2 23	17M	+3.5%	+4.0%
Q3 23	17M	+1.1%	+4.9%
Q4 23	17M	-0.6%	+4.1%
Q1 24	19M	+12.5%	+17.0%
Q2 24	21M	+9.6%	+23.9%
Q3 24	22M	+1.2%	+24.0%
Q4 24	21M	-1.7%	+22.6%
Q1 25	21M	-3.0%	+5.8%
Q2 25	21M	+0.8%	-2.8%
Q3 25	20M	-1.3%	-5.1%
Q4 25	20M	-0.7%	-4.2%

Shares Outstanding