Core Viewpoint - Turtle Beach Corporation will report its financial results for the second quarter of 2025 on August 7, 2025, after the market closes [1] Group 1: Financial Reporting - The financial results will be discussed in a conference call and audio webcast at 4:30 p.m. ET / 1:30 p.m. PT on the same day [2] - The call will be hosted by the CEO Cris Keirn and CFO Mark Weinswig [2] Group 2: Conference Call Information - The live webcast will be accessible on the Company's "Events & Presentations" page [3] - Participants can join the call by dialing 1-844-826-3035 or 1-412-317-5195, with a recommendation to call in 15 minutes early [3] Group 3: Replay Information - A telephone replay of the call will be available until August 21, 2025, accessible by dialing 1-844-512-2921 or 1-412-317-6671 with passcode 10200768 [4] - A replay of the webcast will also be available on the investor relations website for a limited time [4] Group 4: Company Overview - Turtle Beach Corporation is a leading provider of gaming accessories, known for its best-selling gaming headsets and top-rated game controllers [5] - The Company has been a market leader in console gaming audio for over a decade and acquired Performance Designed Products in 2024 [5] - Turtle Beach's shares are traded on the Nasdaq Exchange under the symbol TBCH [5]

Market Position and Brand Strength - Turtle Beach is the best-selling gaming headset brand for the past 15 years[6] - The company is a top 5 gaming accessory leader in the $11 billion global gaming accessories market[6] - Turtle Beach has over 400 patents and is a leading innovator in gaming accessories[8] - The brand has the highest headset brand loyalty among active PC and/or console headset owners in the U S[9] Financial Performance and Growth - Q4 2024 revenue reached a record of $146 1 million, a 47% increase year-over-year[61] - 2024 revenue reached a record of $372 8 million, a 44% increase year-over-year[63] - Adjusted EBITDA for 2024 grew nearly $50 million to $56 4 million[64] - The company repurchased $27 8 million in common shares during 2024[65] Market and Product Strategy - The total addressable market for gaming headsets is roughly $2 9 billion[37] - The total addressable market for PC gaming peripherals is roughly $3 9 billion[50] - The market for PC/console flight sim hardware adds over $414 million in global market opportunity, and racing sim adds another $753 million[54]

-Pursuit of Comprehensive Refinancing to Further Enhance Capital Flexibility Continues-SAN DIEGO, June 16, 2025 (GLOBE NEWSWIRE) -- Turtle Beach Corporation (Nasdaq: TBCH, the “Company”), a leading gaming accessories brand, today announced that it has secured a waiver under its existing debt agreement, allowing for share repurchases of up to $5 million prior to June 30, 2025 pursuant to its new $75 million authorization announced on May 8th. This action reflects the Company’s continued commitment to return ...

Turtle Beach (HEAR) FY Conference Summary Industry and Company Overview - The conference focused on Turtle Beach, a leading company in the gaming accessory industry, particularly known for its headsets and controllers [1][2] - The discussion highlighted the upcoming gaming cycle, including new hardware launches and significant game releases that are expected to impact accessory sales positively [3][4] Key Points and Arguments Upcoming Gaming Cycle - Anticipation for the Nintendo Switch 2 and its impact on accessory sales, with historical trends indicating strong initial sales for accessories following new console launches [4][5] - Excitement surrounding the release of GTA VI in May, which is expected to drive significant engagement and accessory purchases [6][14] Accessory Categories and Growth - Turtle Beach aims to differentiate its products by collaborating with console manufacturers to create complementary accessories that enhance the gaming experience [8][11] - The company is focusing on innovative audio features and new technologies across all platforms, including PC [10][12] Engagement-Driven Sales - High engagement games, such as GTA VI and Fortnite, are identified as key drivers for accessory purchases, with the expectation that increased playtime leads to higher accessory demand [13][15] - The company has successfully launched licensed products for popular games like Minecraft, indicating a strategy to tap into high-engagement titles [16][17] Market Dynamics and Replacement Cycles - Historically, the replacement cycle for gaming accessories has been around 2-3 years, driven by gamer engagement and technological advancements [21][22] - The pandemic created a surge in demand for gaming accessories, but a full replacement cycle has not yet been realized, presenting an opportunity for future growth as new hardware and games are released [23][25] Financial Performance and M&A Strategy - The acquisition of PDP has been transformative, broadening Turtle Beach's product portfolio and contributing to a more balanced revenue split between headsets and other categories [30][31] - The company has exceeded synergy expectations from the PDP acquisition, achieving over $13 million in synergies compared to the anticipated $10-12 million [32] - Future M&A activities will be informed by the success of the PDP acquisition, with a focus on accretive deals that enhance growth [34][35] Capital Allocation and Cash Flow - Turtle Beach anticipates $50 million in EBITDA for the year, with cash flow expected to be in the mid-$30 million range, supported by low capital requirements [37][38] - The company has a strong buyback program, having repurchased nearly $30 million in stock last year and approving an additional $75 million buyback program [36][39] Long-Term Strategy - The focus for the next 3-5 years includes consistent execution, adapting to market changes, and maintaining a leadership position in the gaming accessory space [47][50] - The company aims to balance investments in core business growth, M&A opportunities, and share buybacks to enhance shareholder value [49][51] Additional Important Insights - The company is preparing for a shift in revenue seasonality due to the upcoming releases, particularly GTA VI, which may create patterns similar to console launches [44][45] - The management emphasizes agility and quick adaptation to market changes, which has been a competitive advantage for Turtle Beach [48][49] This summary encapsulates the key insights from the Turtle Beach FY Conference, highlighting the company's strategic direction, market opportunities, and financial outlook.

Core Viewpoint - Turtle Beach Corporation has adopted a limited duration stockholder rights plan to protect stockholders and enhance the value of their investments [1][2][4] Summary by Sections Rights Plan Adoption - The Board of Directors has approved a stockholder rights plan, declaring a dividend distribution of one right for each outstanding share of common stock, with a record date of June 23, 2025 [1][2] - The Rights Plan is designed to allow stockholders to realize the full potential value of their investments and to protect against actions deemed not in the best interests of the Company [2][4] Rights Plan Mechanism - The Rights become exercisable if a person or group acquires 10% or more of the Company's common stock without Board approval, allowing existing Right holders to purchase shares at a value of twice the exercise price [3] - In the event of a merger after such an acquisition, Right holders can purchase shares of the acquiring company at a similar valuation [3] Special Meeting Clause - The Rights Plan includes a clause allowing stockholders to call a special meeting to exempt a pending offer that meets specific criteria [4] - The plan is not a response to any specific takeover bid and does not aim to deter fair offers [4] Existing Stockholders - Current stockholders owning 10% or more of the Company's stock will not face penalties under the Rights Plan as long as they do not acquire additional shares cumulatively [5] Additional Information - Further details regarding the Rights Plan will be filed with the U.S. Securities and Exchange Commission and will be available on the Company's corporate website [6]

Core Insights - Turtle Beach Corporation, a leading gaming accessories brand, will participate in the Oppenheimer 25th Annual Consumer Growth and E-Commerce Conference from June 9-11, 2025 [1] - CEO Cris Keirn will host a fireside chat on June 10 at 11:15 a.m. ET, with management available for meetings during the conference [1] Company Overview - Turtle Beach Corporation is recognized as one of the world's leading gaming accessory providers, known for its best-selling gaming headsets, top-rated game controllers, and award-winning PC gaming peripherals [3] - The company has maintained its position as a market leader in console gaming audio for over a decade, emphasizing innovation and customer support [3] - In 2024, Turtle Beach acquired Performance Designed Products LLC, further expanding its product offerings [3] - The company's shares are traded on the Nasdaq Exchange under the symbol TBCH [3]

Company Overview - Turtle Beach Corporation is a leading gaming accessories brand known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories [3] - The company has been a market leader in console gaming audio for over a decade and acquired Performance Designed Products LLC in 2024 [3] - Turtle Beach's shares are traded on the Nasdaq Exchange under the symbol TBCH [3] Upcoming Events - CEO Cris Keirn and CFO Mark Weinswig will participate in the Oppenheimer 25th Annual Consumer Growth and E-Commerce Conference from June 9-11, 2025 [1] - A fireside chat hosted by CEO Cris Keirn is scheduled for June 10 at 11:15 a.m. ET [1] - A live webcast of the event will be available on the company's website, with a replay accessible for 90 days [2]

Company Overview - Turtle Beach Corporation is a leading gaming accessories brand known for designing best-selling gaming headsets, top-rated game controllers, award-winning PC gaming peripherals, and groundbreaking gaming simulation accessories [3] - The company has been a market leader in console gaming audio for over a decade and acquired Performance Designed Products LLC in 2024 [3] - Turtle Beach's shares are traded on the Nasdaq Exchange under the symbol TBCH [3] Upcoming Events - Cris Keirn, Chief Executive Officer, and Mark Weinswig, Chief Financial Officer, will participate in a fireside chat at the Maxim Group 2025 Virtual Tech Conference on June 4 at 2:00 p.m. ET [1] - A live webcast of the event will be available on the company's website, with a replay accessible for two weeks [2]

Core Insights - PowerA has launched a new lineup of accessories for the Nintendo Switch 2, featuring high-performance controllers with Hall Effect sensors and protective gear designed to enhance gaming experiences [2][3][4] Product Features - The new controllers utilize Hall Effect technology, providing contact-free magnetic sensors in the thumbsticks for improved precision and longevity [3] - The Advantage Wired Controller includes features such as two mappable Advanced Gaming Buttons, onboard audio controls, and a 10 ft. USB-C cable, available in multiple designs [11] - The Slim Case offers a low-profile design with a zippered outer shell, plush interior lining, and storage for up to ten game cards, ideal for portability [11] - A 2-pack screen protector is included in the lineup, designed for easy installation and protection of the Nintendo Switch 2 screen [11] Availability and Warranty - PowerA's Nintendo Switch 2 accessories will be available in June 2025 through various retailers including PowerA.com and Amazon [6] - All products come with a two-year limited warranty, ensuring quality and customer satisfaction [8] Commitment to Compatibility - PowerA is actively testing its existing Nintendo Switch accessory catalog for forward compatibility with the new Nintendo Switch 2 system [7]

Financial Data and Key Metrics Changes - First quarter revenue increased by 14% year over year to $63.9 million, driven by the full quarter contribution from the PDP acquisition [5][14] - Adjusted EBITDA rose to $4.1 million, up 180% from $1.4 million a year ago, indicating strong operating leverage [6][16] - Gross margins improved by 470 basis points year over year to 36.6% [6][14] - Operating expenses were $21.8 million, representing 34% of revenue compared to 42% in the prior year [15] Business Line Data and Key Metrics Changes - The U.S. gaming accessories market experienced a 16% year-over-year decline in Q1, with headsets and third-party controllers down over 20% [6][26] - Despite the overall market decline, the company achieved revenue growth due to the PDP acquisition and improved product offerings [6][11] Market Data and Key Metrics Changes - The broader gaming accessories market is projected to decline by 10% to 12% for the full year 2025, influenced by factors such as the delayed release of Grand Theft Auto VI and tariffs [11][28] - The company anticipates a return to growth in 2026, supported by the launch of the Nintendo Switch 2 and other major game releases [11][28] Company Strategy and Development Direction - The company is focusing on expanding its gaming accessories portfolio and capitalizing on industry growth drivers, including the upcoming Nintendo Switch 2 launch [12][21] - A new share repurchase program of up to $75 million over the next two years has been authorized, reflecting confidence in the company's future [13][18] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by tariffs and the evolving economic landscape but expressed confidence in navigating these issues with minimal long-term effects [8][21] - The company has proactively increased inventory levels in anticipation of tariffs, which is expected to provide near-term benefits to margins [8][41] Other Important Information - The company reported strong cash flow generation, with cash flow from operations growing by nearly 50% year over year to over $40 million [17] - The company is committed to maintaining a disciplined promotional approach, which has improved profitability [7][12] Q&A Session Summary Question: Impact of GTA VI delay on revenue reduction - Management indicated that the $50 million revenue reduction is due to a combination of factors, including the GTA VI delay and broader market challenges [24][25] Question: Expectations for gross margins in upcoming quarters - Gross margins are expected to be in the low 30s for Q2, with potential recovery in Q3 and Q4 [30][32] Question: Further cost controls in light of revised guidance - The company is actively pursuing cost synergies and has identified additional opportunities for cost reductions [33][34] Question: Flexibility to rebound if market conditions improve - Management confirmed readiness to adjust production and shipments based on market improvements, with a strong inventory position [40][42] Question: Current tariff assumptions for Vietnam - The guidance includes current tariff conditions, and management is prepared to adjust strategies based on any changes [45][47] Question: Pricing adjustments due to tariffs - Pricing adjustments have been communicated to partners, and the impact of tariffs has been factored into the guidance [52][53] Question: Transition to Vietnam and competitive advantage - The company has been diversifying its supply chain for years, allowing for a swift transition to Vietnam, which is seen as a competitive advantage [56][58] Question: Onetime costs and impact on gross margin - Onetime costs related to tariffs and transitions are expected to have a limited impact on long-term gross margins [62][65] Question: Consumer dynamics and purchasing behavior - Consumer behavior has not shown significant changes, with no evidence of preemptive buying ahead of tariffs [68][70]