NASDAQ : TBCH
Turtle Beach Corporation — Financial statements
Technology · Consumer Electronics · United States
Last price 16.49 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 295.33M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Turtle Beach Corporation (TBCH) reported revenue of 297.77M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 297.77M | 319.91M | 372.77M | 258.12M | 240.17M | 366.35M |
| Cost of Revenue | 185.85M | 199.52M | 238.30M | 182.62M | 190.98M | 237.97M |
| Gross Profit | 111.92M | 120.39M | 134.46M | 75.50M | 49.19M | 128.38M |
| Selling, General & Admin | 82.82M | 82.69M | 78.98M | 72.89M | 79.65M | 90.38M |
| Research & Development | 17.81M | 16.89M | 17.30M | 17.14M | 19.12M | 17.49M |
| Operating Expenses | 100.63M | 99.58M | 96.29M | 90.03M | 98.77M | 107.87M |
| Operating Income | 11.29M | 20.81M | 38.18M | -14.52M | -49.58M | 20.51M |
| Interest Expense | -10.75M | -9.77M | -8.07M | -504.00K | -1.22M | -383.00K |
| Other Non Operating Income (Expenses) | 185.00K | -945.00K | -1.29M | -394.00K | -1.75M | -1.83M |
| EBT Excluding Unusual Items | 724.00K | 10.10M | 28.82M | -15.42M | -52.56M | 18.30M |
| Merger & Restructuring Charges | -816.00K | -1.42M | -12.92M | -78.00K | ||
| Asset Writedown | -1.90M | |||||
| Legal Settlements | -164.00K | -164.00K | -1.83M | -1.92M | ||
| Other Unusual Items | -1.11M | -1.11M | -3.40M | 1.93M | ||
| Pretax Income | -1.37M | 16.80M | 10.67M | -17.34M | -54.45M | 20.15M |
| Income Tax Expense | 1.82M | 1.07M | -5.51M | 338.00K | 5.09M | 2.43M |
| Net Income | -3.19M | 15.73M | 16.18M | -17.68M | -59.55M | 17.72M |
| Net Income to Common | -3.19M | 15.73M | 16.18M | -17.68M | -59.55M | 17.72M |
| Shares Outstanding (Basic) | 19.64M | 20.26M | 20.02M | 17.14M | 16.45M | 15.91M |
| Shares Outstanding (Diluted) | 19.64M | 20.46M | 20.83M | 17.14M | 16.45M | 18.25M |
| EPS (Basic) | -0.16 | 0.78 | 0.81 | -1.03 | -3.62 | 1.11 |
| EPS (Diluted) | -0.16 | 0.77 | 0.78 | -1.03 | -3.62 | 0.97 |
| Free Cash Flow | 32.25M | 34.04M | 847.00K | 24.89M | -45.40M | -5.95M |
| Free Cash Flow Per Share | 1.64 | 1.66 | 0.04 | 1.45 | -2.76 | -0.33 |
| Gross Margin | 37.59% | 37.63% | 36.07% | 29.25% | 20.48% | 35.04% |
| Operating Margin | 3.79% | 6.51% | 10.24% | -5.63% | -20.65% | 5.60% |
| Profit Margin | -1.07% | 4.92% | 4.34% | -6.85% | -24.79% | 4.84% |
| Free Cash Flow Margin | 10.83% | 10.64% | 0.23% | 9.64% | -18.90% | -1.62% |
| EBITDA | 23.13M | 33.24M | 49.57M | -9.68M | -43.77M | 25.82M |
| EBITDA Margin | 7.77% | 10.39% | 13.30% | -3.75% | -18.22% | 7.05% |
| D&A For EBITDA | 11.84M | 12.43M | 11.39M | 4.84M | 5.82M | 5.31M |
| EBIT | 11.29M | 20.81M | 38.18M | -14.52M | -49.58M | 20.51M |
| EBIT Margin | 3.79% | 6.51% | 10.24% | -5.63% | -20.65% | 5.60% |
| Effective Tax Rate | 6.37% | 12.05% | ||||
| Advertising Expenses | 3.20M | 3.90M | 3.90M | 4.90M | 9.70M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 19.57M | 16.96M | 12.99M | 18.73M | 11.40M | 37.72M |
| Cash & Short-Term Investments | 19.57M | 16.96M | 12.99M | 18.73M | 11.40M | 37.72M |
| Receivables | 37.94M | 76.80M | 93.12M | 54.39M | 43.34M | 35.95M |
| Inventory | 56.54M | 69.22M | 71.25M | 44.02M | 71.25M | 101.93M |
| Prepaid Expenses | 10.94M | 10.83M | 11.01M | 7.72M | 9.20M | 17.51M |
| Total Current Assets | 124.98M | 173.81M | 188.37M | 124.86M | 135.18M | 193.11M |
| Property, Plant & Equipment | 2.37M | 8.84M | 5.84M | 4.82M | 6.36M | 6.96M |
| Goodwill | 50.43M | 50.43M | 52.94M | 10.69M | 10.69M | 10.69M |
| Other Intangible Assets | 30.38M | 34.34M | 42.40M | 1.73M | 2.61M | 5.79M |
| Long-Term Deferred Tax Assets | 5.90M | |||||
| Other Long-Term Assets | 7.01M | 1.63M | 9.31M | 7.87M | 8.55M | 8.06M |
| Total Assets | 215.17M | 269.05M | 298.86M | 149.97M | 163.39M | 230.50M |
| Accounts Payable | 27.86M | 24.93M | 34.84M | 26.91M | 19.85M | 40.48M |
| Accrued Expenses | 18.90M | 18.98M | 31.05M | 24.22M | 21.27M | 34.23M |
| Short-Term Debt | 29.38M | 49.41M | 19.05M | |||
| Current Portion of Long-Term Debt | 4.25M | 8.57M | 1.25M | |||
| Current Portion of Leases | 1.89M | |||||
| Current Income Taxes Payable | 1.54M | 3.92M | 7.12M | 5.21M | 4.16M | 3.46M |
| Total Current Liabilities | 52.55M | 87.68M | 123.67M | 56.33M | 64.33M | 78.17M |
| Long-Term Debt | 76.44M | 46.34M | 45.62M | |||
| Long-Term Leases | 4.64M | 5.24M | ||||
| Other Long-Term Liabilities | 820.00K | 1.30M | 8.96M | 8.56M | 10.11M | 10.97M |
| Total Liabilities | 134.45M | 140.56M | 178.26M | 64.89M | 74.45M | 89.14M |
| Common Stock | 18.00K | 19.00K | 20.00K | 18.00K | 17.00K | 16.00K |
| Additional Paid-In Capital | 204.40M | 229.19M | 239.98M | 220.19M | 206.92M | 198.28M |
| Retained Earnings | -124.88M | -102.36M | -118.09M | -134.28M | -116.60M | -57.05M |
| Comprehensive Income & Other | 1.18M | 1.65M | -1.30M | -849.00K | -1.39M | 127.00K |
| Total Common Equity | 80.72M | 128.50M | 120.60M | 85.08M | 88.94M | 141.37M |
| Shareholders' Equity | 80.72M | 128.50M | 120.60M | 85.08M | 88.94M | 141.37M |
| Total Liabilities & Equity | 215.17M | 269.05M | 298.86M | 149.97M | 163.39M | 230.50M |
| Total Debt | 85.33M | 91.42M | 96.28M | 19.05M | ||
| Net Cash (Debt) | -65.77M | -74.46M | -83.29M | 18.73M | -7.66M | 37.72M |
| Net Cash Per Share | -3.35 | -3.64 | -4.00 | 1.09 | -0.47 | 2.07 |
| Filing Date Shares Outstanding | 17.91M | 19.60M | 19.97M | 17.61M | 16.58M | 16.17M |
| Total Common Shares Outstanding | 17.91M | 19.19M | 19.96M | 17.53M | 16.57M | 16.17M |
| Working Capital | 72.44M | 86.14M | 64.70M | 68.52M | 70.85M | 114.94M |
| Book Value Per Share | 4.51 | 6.70 | 6.04 | 4.85 | 5.37 | 8.74 |
| Tangible Book Value | -88.00K | 43.73M | 25.26M | 72.66M | 75.64M | 124.89M |
| Tangible Book Value Per Share | -0.00 | 2.28 | 1.27 | 4.14 | 4.57 | 7.72 |
| Machinery | 13.48M | 12.48M | 18.50M | 15.55M | 13.99M | 11.37M |
| Leasehold Improvements | 1.18M | 1.16M | 2.32M | 1.99M | 2.05M | 1.79M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -3.19M | 15.73M | 16.18M | -17.68M | -59.55M | 17.72M |
| Depreciation & Amortization | 11.84M | 12.43M | 11.39M | 4.84M | 5.82M | 5.31M |
| Other Amortization | 904.00K | 971.00K | 902.00K | 141.00K | 189.00K | 189.00K |
| Asset Writedown & Restructuring Costs | 753.00K | 1.90M | ||||
| Stock-Based Compensation | 5.90M | 6.18M | 6.17M | 11.98M | 7.98M | 7.66M |
| Provision & Write-off of Bad Debts | -3.00K | -23.00K | 468.00K | |||
| Other Operating Activities | -2.62M | -3.83M | 2.65M | 3.26M | 9.85M | -1.44M |
| Change in Accounts Receivable | -1.16M | 17.09M | -15.62M | -5.76M | -4.84M | 9.68M |
| Change in Inventory | 17.75M | -983.00K | -12.26M | 27.34M | 22.10M | -32.24M |
| Change in Accounts Payable | -6.45M | -9.96M | -4.02M | 1.77M | -23.35M | -2.79M |
| Change in Income Taxes | 903.00K | -1.64M | -159.00K | -283.00K | 727.00K | -5.57M |
| Change in Other Net Operating Assets | 10.15M | -529.00K | -227.00K | 1.44M | -2.65M | 684.00K |
| Operating Cash Flow | 34.02M | 35.46M | 5.76M | 27.04M | -41.85M | -327.00K |
| Capital Expenditures | -1.77M | -1.42M | -4.91M | -2.16M | -3.55M | -5.62M |
| Cash Acquisitions | 2.52M | -77.29M | -2.50M | |||
| Investing Cash Flow | -1.77M | 1.10M | -82.21M | -2.16M | -3.55M | -8.12M |
| Short-Term Debt Issued | 207.95M | 346.91M | 210.21M | 91.94M | 120.86M | |
| Long-Term Debt Issued | 60.00M | 50.00M | ||||
| Total Debt Issued | 210.09M | 267.95M | 396.91M | 210.21M | 91.94M | 120.86M |
| Short-Term Debt Repaid | -227.98M | -297.49M | -229.26M | -72.89M | -120.86M | |
| Long-Term Debt Repaid | -53.24M | -1.04M | ||||
| Total Debt Repaid | -191.97M | -281.22M | -298.54M | -229.26M | -72.89M | -120.86M |
| Net Debt Issued (Repaid) | 18.11M | -13.27M | 98.37M | -19.05M | 19.05M | |
| Issuance of Common Stock | 2.15M | 1.99M | 3.36M | 2.26M | 653.00K | 5.29M |
| Repurchase of Common Stock | -39.90M | -18.96M | -27.78M | -974.00K | -5.34M | |
| Other Financing Activities | -3.58M | -2.33M | -2.90M | -80.00K | ||
| Financing Cash Flow | -23.22M | -32.58M | 71.05M | -17.85M | 19.71M | -56.00K |
| Foreign Exchange Rate Adjustments | -1.18M | -3.00K | -335.00K | 291.00K | -635.00K | -457.00K |
| Net Cash Flow | 7.86M | 3.97M | -5.73M | 7.33M | -26.32M | -8.96M |
| Free Cash Flow | 32.25M | 34.04M | 847.00K | 24.89M | -45.40M | -5.95M |
| Free Cash Flow Margin | 10.83% | 10.64% | 0.23% | 9.64% | -18.90% | -1.62% |
| Free Cash Flow Per Share | 1.64 | 1.66 | 0.04 | 1.45 | -2.76 | -0.33 |
| Levered Free Cash Flow | 32.76M | 18.41M | -20.20M | 34.12M | -22.59M | -12.46M |
| Unlevered Free Cash Flow | 38.58M | 23.55M | -16.06M | 34.29M | -22.02M | -12.41M |
| Cash Interest Paid | 6.97M | 6.97M | 7.14M | 500.00K | 979.00K | 194.00K |
| Cash Income Tax Paid | 2.52M | 2.52M | 193.00K | 63.00K | -2.38M | 6.56M |
| Change in Working Capital | 21.19M | 3.98M | -32.29M | 24.50M | -8.01M | -30.24M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 287.45M | 270.93M | 347.57M | 190.57M | 118.71M | 357.18M |
| Enterprise Value | 353.22M | 355.36M | 447.55M | 199.34M | 160.62M | 337.28M |
| Last Close Price | 16.05 | 14.03 | 17.31 | 10.95 | 7.17 | 22.26 |
| PE Ratio | 17.22 | 21.48 | 20.16 | |||
| Forward PE | 15.05 | 15.20 | 11.48 | 118.12 | 10.00 | 21.90 |
| PS Ratio | 0.97 | 0.85 | 0.93 | 0.74 | 0.49 | 0.97 |
| PB Ratio | 3.56 | 2.11 | 2.88 | 2.24 | 1.33 | 2.53 |
| P/TBV Ratio | 6.20 | 13.76 | 2.62 | 1.57 | 2.86 | |
| P/FCF Ratio | 8.91 | 7.96 | 410.36 | 7.66 | ||
| P/OCF Ratio | 8.45 | 7.64 | 60.33 | 7.05 | ||
| PEG Ratio | 0.95 | 0.72 | 0.62 | 0.62 | 1.37 | |
| EV/Sales Ratio | 1.19 | 1.11 | 1.20 | 0.77 | 0.67 | 0.92 |
| EV/EBITDA Ratio | 15.27 | 10.69 | 9.03 | 13.06 | ||
| EV/EBIT Ratio | 31.29 | 17.07 | 11.72 | 16.45 | ||
| EV/FCF Ratio | 10.95 | 10.44 | 528.39 | 8.01 | ||
| Debt / Equity Ratio | 1.06 | 0.71 | 0.80 | 0.21 | ||
| Debt / EBITDA Ratio | 3.22 | 2.54 | 1.94 | |||
| Debt / FCF Ratio | 2.65 | 2.69 | 113.67 | |||
| Net Debt / Equity Ratio | 0.81 | 0.58 | 0.69 | -0.22 | 0.09 | -0.27 |
| Net Debt / EBITDA Ratio | 2.84 | 2.24 | 1.68 | 1.93 | -0.17 | -1.46 |
| Net Debt / FCF Ratio | 2.04 | 2.19 | 98.33 | -0.75 | -0.17 | 6.34 |
| Asset Turnover | 1.31 | 1.13 | 1.66 | 1.65 | 1.22 | 1.69 |
| Inventory Turnover | 2.79 | 2.84 | 4.13 | 3.17 | 2.21 | 2.75 |
| Quick Ratio | 1.09 | 1.07 | 0.86 | 1.30 | 0.85 | 0.94 |
| Current Ratio | 2.38 | 1.98 | 1.52 | 2.22 | 2.10 | 2.47 |
| Return on Equity (ROE) | -3.23% | 12.63% | 15.74% | -20.32% | -51.71% | 13.75% |
| Return on Assets (ROA) | 3.10% | 4.58% | 10.63% | -5.79% | -15.73% | 5.91% |
| Return on Invested Capital (ROIC) | 7.43% | 9.58% | 28.25% | -17.82% | -49.52% | 20.81% |
| Return on Capital Employed (ROCE) | 6.90% | 11.50% | 21.80% | -15.50% | -50.10% | 13.50% |
| Earnings Yield | -1.01% | 5.81% | 4.66% | -9.28% | -50.16% | 4.96% |
| FCF Yield | 11.22% | 12.56% | 0.24% | 13.06% | -38.24% | -1.67% |
| Buyback Yield / Dilution | 7.49% | 1.80% | -21.58% | -4.16% | 9.87% | -11.53% |