Financial Data and Key Metrics Changes - The company reported record-breaking quarterly results in Q4 2024, achieving an all-time high revenue of $146 million and adjusted EBITDA, indicating strong performance and resilience in its strategy and execution [3][4]. Business Line Data and Key Metrics Changes - Incremental revenue was noted from the PDP business and next-generation products, contributing to the record revenue performance [4]. Market Data and Key Metrics Changes - The company anticipates a conservative revenue outlook for 2025, reflecting current market conditions and expectations for stronger performance during the holiday season [14]. Company Strategy and Development Direction - The management expressed optimism about the future, aiming to exceed previous highs seen during the Battle Royale surge in 2018 and the pandemic era in 2020 and 2021 [5]. Management Comments on Operating Environment and Future Outlook - Management discussed the potential impact of tariffs, estimating a benefit of several million in EBITDA if tariffs were removed [8]. - The company is focusing on mid to high 30s in gross margin percentage for the full year, with expectations of improved operating expense leverage due to synergies from acquisitions [9][17]. Other Important Information - The company is committed to returning capital to shareholders and views current stock prices as attractive [10]. Q&A Session Summary Question: Impact of tariffs on sales and costs - Management indicated that the impact of tariffs could result in several million in EBITDA benefits if tariffs were removed [8]. Question: Gross margin implications from inventory charge - Management confirmed that gross margin for the quarter would have been approximately 39% if inventory charges were added back [9]. Question: Revenue outlook by product category - Management provided a conservative revenue outlook for 2025, anticipating stronger market conditions during the holiday season [14]. Question: Adjusted EBITDA guidance and gross margins - Management expects continued leverage on operating expenses, contributing to strong adjusted EBITDA guidance for 2025 [16]. Question: Sensitivity to currency changes - Management noted benefits from currency strengthening and mentioned a natural hedge due to revenue in different currencies [21]. Question: Revenue outlook for the second half of the year - Management compared the revenue outlook to 2019, indicating a return to pre-pandemic seasonality with lower Q1 expectations [22]. Question: Seasonality comment on revenue - Management confirmed a seasonality range of 15% to 16% based on midpoint expectations [26].

Exhibit 99.1 TURTLE BEACH CORPORATION ANNOUNCES RECORD FOURTH QUARTER AND YEAR END 2024 RESULTS – Fourth Quarter Net Revenue Reaches Quarterly Record of $146.1 million, up 47% Year-over-Year – – Fourth Quarter Net Income of $20.1 million compared to $8.6 million in prior year – – Fourth Quarter Adjusted EBITDA Reaches Quarterly Record of $35.7 million, up from $14.0 million in prior year – – Initiates Full Year 2025 Guidance, including Adjusted EBITDA of between $68 and $72 million representing year-over-ye ...

WHITE PLAINS, N.Y., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Turtle Beach Corporation (Nasdaq: HEAR), a leading gaming accessories provider, today announced that it will update its ticker symbol to “TBCH” effective January 7, 2025. This change reflects Turtle Beach’s evolution and ongoing growth as a dominant force in the broader gaming accessories market. “Our new ‘TBCH’ ticker symbol represents more than just adaptation of our market identity,” said Cris Keirn, CEO, Turtle Beach Corporation. “It signifies our gr ...

WHITE PLAINS, N.Y., Jan. 06, 2025 (GLOBE NEWSWIRE) -- Turtle Beach Corporation (NASDAQ:HEAR), a leading gaming accessories provider, today announced that it will update its ticker symbol to "TBCH" effective January 7, 2025. This change reflects Turtle Beach's evolution and ongoing growth as a dominant force in the broader gaming accessories market. "Our new ‘TBCH' ticker symbol represents more than just adaptation of our market identity," said Cris Keirn, CEO, Turtle Beach Corporation. "It signifies our gro ...

Turtle Beach (HEAR) came out with quarterly earnings of $0.16 per share, missing the Zacks Consensus Estimate of $0.18 per share. This compares to loss of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -11.11%. A quarter ago, it was expected that this audio technology company would post a loss of $0.27 per share when it actually produced a loss of $0.30, delivering a surprise of -11.11%.Over the last four quarters, the ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-35465 TURTLE BEACH CORPORATION (Exact name of registrant as specified in its charter) Nevada 27-2767540 (State or other jur ...

– Third Quarter Net Revenue of $94.4 million, up 60% Year-over-Year –– Net Income was $3.4 million compared to a Net Loss of ($3.6) in prior year –– Adjusted EBITDA was $16.3 million compared to $1.0 in prior year –– Raising Full Year 2024 EBITDA Guidance Again on Continued Execution Strength –– Repurchased $10.1 Million of Common Shares in the Third Quarter – WHITE PLAINS, N.Y., Nov. 07, 2024 (GLOBE NEWSWIRE) -- Turtle Beach Corporation (Nasdaq: HEAR), a leading gaming accessories brand, today reported fin ...

I am an avid investor with a major focus on small cap companies with experience in investing in US, Canadian, and European markets. My investment philosophy to generating great returns on the stock market revolves around identifying mispriced securities by understanding the drivers behind a company's financials, and ultimately, most often revealed by a DCF model valuation. This methodology doesn't limit an investor into rigid traditional value, dividend, or growth investing, but rather accounts for all of a ...

Turtle Beach (HEAR) shares ended the last trading session 8.8% higher at $16.51. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 4.6% gain over the past four weeks. The uptrend in shares is largely attributable to its expansion in key international markets, including Canada, Mexico, Colombia, and Chile. Turtle Beach has brought all the latest gaming accessories to Canada to enable subscribers to avail of more gamin ...

Financial Data and Key Metrics Changes - Revenue for Q2 2024 was $76.5 million, representing a 59% year-over-year increase, driven by the acquisition of PDP and a 15% increase in non-PDP revenue [7][13] - Gross margin improved to 30.2%, up from 24.7% in the same quarter last year, reflecting a 540 basis point increase [10][14] - Adjusted EBITDA for the quarter was $3 million, an improvement of $8.7 million compared to the same quarter last year [10][15] - Full year 2024 adjusted EBITDA guidance raised to a range of $53 million to $56 million [18] Business Line Data and Key Metrics Changes - The gaming accessories market has outperformed the overall U.S. gaming industry, with the accessories market up approximately 5% year-to-date [7][8] - U.S. gaming headsets and third-party controller markets grew by approximately 12% and 15%, respectively [7][8] - The company reported strong sales from newly launched products, including the Turtle Beach Stealth 500 and Stealth 600 headsets, which ranked as the number two and number four best-selling headsets in the U.S. for June [8][9] Market Data and Key Metrics Changes - The overall U.S. gaming accessories market value increased by approximately 5% for the first half of 2024 compared to the first half of 2023 [7] - The company noted that the retail channel inventory is currently balanced, with expectations for potential restocking in Q3 [21][23] Company Strategy and Development Direction - The company is focused on innovation, operational efficiencies, and leveraging synergies from the PDP acquisition to enhance market position [6][11] - The integration of PDP is ahead of schedule, with positive feedback from retail customers and industry partners [11][36] - The company aims to continue diversifying its product offerings and expanding into the $3.9 billion PC peripherals market [9] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth in the gaming accessories market, driven by pandemic-era replacements and upgrades [8][19] - The company anticipates that the integration of PDP will yield additional synergies and market opportunities [11][36] - Management acknowledged potential challenges in the Nintendo hardware segment but noted strong diversification across platforms [36] Other Important Information - The company repurchased approximately $15 million of its stock during the second quarter, marking the largest repurchase in its history [11][16] - The company is committed to returning excess cash to shareholders through share repurchases and evaluating strategic acquisitions [17] Q&A Session Summary Question: Is retail inventory balanced, and will there be additional restocking? - Management confirmed that retail inventory is currently healthy and balanced, with potential restocking expected in Q3 [21][23] Question: What is the status of transaction expenses and inventory step-up related to PDP? - The inventory step-up for Q2 was approximately $1.25 million, with an estimated $900,000 to $1 million remaining for the balance of the year [25] Question: How is the integration of PDP progressing? - The integration is ahead of schedule, with significant collaboration between teams and completion of system integration work [36] Question: How is the company positioned in the headset and controller markets? - Headsets remain the strongest revenue contributor, while controllers are growing significantly, with strong performance in premium controllers [39][41] Question: What is the outlook for different regions? - North America is seeing growth, particularly due to the PDP acquisition, while Asia remains relatively flat with minimal exposure [44]