Financial Performance - Net revenue for the first quarter of 2025 was $63.9 million, representing a 14% increase compared to the prior year [1][8] - Gross margin improved to 36.6%, an increase of approximately 470 basis points from 31.8% in the prior year [1][8] - The company reported a net loss of $(0.7) million, compared to a net income of $0.2 million in the prior year [1][8] - Adjusted EBITDA was $4.1 million, up from $1.4 million in the prior year [1][8] - Cash flow from operations reached $40.5 million, the highest level since 2019 [1][10] Strategic Initiatives - The company has authorized a new stock repurchase program of up to $75 million over the next two years, reflecting confidence in its prospects [1][5] - Following the acquisition of PDP in March 2024, the company experienced strong growth despite a decline in the gaming accessories market due to macroeconomic challenges [3] - The company is transitioning significant production out of China, with less than 10% of U.S. supply expected to come from China for the remainder of 2025, primarily sourcing from Vietnam [4] Financial Outlook - The company revised its financial outlook for 2025, expecting net revenues to be in the range of $340 million to $360 million, with Adjusted EBITDA projected between $47 million and $53 million [11] - The ongoing macroeconomic uncertainty and new game releases are influencing the company's expectations for the gaming accessories market [11][6]

Core Viewpoint - Turtle Beach Corporation will report its financial results for Q1 2025 on May 8, 2025, after market close [1] Group 1: Financial Reporting - The financial results will be discussed in a conference call and audio webcast at 5:00 PM ET / 2:00 PM 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 1-877-407-0792 or 1-201-689-8263, with a recommendation to call in 15 minutes early [3] Group 3: Replay Information - A telephone replay of the call will be available until May 22, 2025, accessible by dialing 1-844-512-2921 or 1-412-317-6671 with passcode 13752645 [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 other gaming peripherals [5] - The Company acquired Performance Designed Products in 2024, enhancing its product offerings [5] - Turtle Beach has been a market leader in console gaming audio for over a decade, recognized for innovation and customer support [5]