TBCH FY 2020 Earnings Report — Turtle Beach Corporation Revenue & Financial Results | Market Cap Arena

Turtle Beach CorporationTBCH

FY 2020 Earnings

Reported December 31, 2020

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2020	Prior Q	FY 2019	QoQ Change	YoY Change
Revenue	$360M	—	$235M	—	53.5%
Op. Income	$49M	—	$10M	—	371.5%
Gross Margin	37.2%	—	33.5%	—	3.6pp
Net Margin	10.8%	—	7.6%	—	3.1pp
EPS (Diluted)	$2.37	—	$1.04	—	127.9%
Free Cash Flow	$45M	—	—	—	—

Revenue Flow

Item	Amount
REVENUE	$360M
Cost of Revenue	$226M
GROSS PROFIT	$134M
R&D Expenses	$12M
Selling & Marketing	$47M
General & Administrative	$26M
SG&A Expenses	$72M
Other Expenses	$0
Operating Expenses	$85M
Cost & Expenses	$311M
OPERATING INCOME	$49M
Interest Income	$0
Interest Expense	$467.0K
Other Income/Expenses	$3M
INCOME BEFORE TAX	$52M
Income Tax Expense	$14M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$5M
EBIT	$53M
EBITDA	$58M
EPS	$3
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$360M
Cost of Revenue	$226M
GROSS PROFIT	$134M
R&D Expenses	$12M
Selling & Marketing	$47M
General & Administrative	$26M
SG&A Expenses	$72M
Other Expenses	$0
Operating Expenses	$85M
Cost & Expenses	$311M
OPERATING INCOME	$49M
Interest Income	$0
Interest Expense	$467.0K
Other Income/Expenses	$3M
INCOME BEFORE TAX	$52M
Income Tax Expense	$14M
Net Income from Continuing Ops	$39M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$39M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$39M
D&A	$5M
EBIT	$53M
EBITDA	$58M
EPS	$3
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$39M
Depreciation & Amortization	$5M
Stock-Based Compensation	$6M
Deferred Income Tax	$468.0K
Other Non-Cash Items	$7M
Change in Working Capital	-$6M
OPERATING CASH FLOW	$51M
Capital Expenditure	-$6M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$0
NET CASH FROM INVESTING	-$6M
Net Debt Issuance	-$16M
Common Stock Repurchased	-$325.0K
Common Dividends Paid	$0
Other Financing Activities	$4M
NET CASH FROM FINANCING	-$7M
FREE CASH FLOW	$45M
Net Change in Cash	$38M

Balance Sheet

Item	Amount
Cash & Equivalents	$47M
Short-Term Investments	$0
Net Receivables	$44M
Inventory	$71M
Other Current Assets	$0
TOTAL CURRENT ASSETS	$170M
PP&E (Net)	$7M
Goodwill	$8M
Intangible Assets	$5M
Long-Term Investments	$0
Tax Assets	$7M
Other Non-Current Assets	$7M
TOTAL NON-CURRENT ASSETS	$33M
TOTAL ASSETS	$203M
Account Payables	$43M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$79M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$128.0K
Other Non-Current Liabilities	$8M
TOTAL NON-CURRENT LIABILITIES	$8M
TOTAL LIABILITIES	$87M
Common Stock	$15.0K
Additional Paid-In Capital	$191M
Retained Earnings	-$75M
Treasury Stock	$0
Accum. Other Comp. Income	$589.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$116M
Minority Interest	$0
TOTAL EQUITY	$116M
TOTAL LIABILITIES & EQUITY	$203M
Total Debt	$0
Net Debt	-$47M