MARKETS / NASDAQ / TBCH

NASDAQ · COMMUNICATIONS EQUIPMENT, NEC · MID CAP

Turtle Beach Corp. TBCH

16 fiscal years on record · USD · FY2025 reported · SEC filings only

Revenue

$319.9M

▼ 14.2% YoY

Net income

$15.7M

▼ 2.8% YoY

Free cash flow

$34.0M

▲ 3918.8% YoY

In brief

What this company does

Turtle Beach provides gaming accessories, including headsets, controllers, keyboards, mice, flight and racing simulation hardware, and microphones. Its gaming accessories are distributed globally through more than 475 thousand points of distribution, including retailers such as Amazon, Argos, Best Buy, Target, and Walmart. Its four largest individual customers accounted for approximately 66% of its gross sales in 2025. As of December 31, 2025, Turtle Beach had 290 employees, of which 268 were full-time salaried employees, with the remaining being contracted employees. The company is headquartered in San Diego, California. It was incorporated in the state of Nevada in 2010.

Written from the business description in Turtle Beach Corp's annual report to the U.S. Securities and Exchange Commission, filed 12 March 2026. Every sentence was checked against that document before publication.

Growth

USD 319.9M

Revenue, FY2025 · full 16-year series below

Revenue $M Net income $M

FY2025 · Revenue 319.9 · Net income 15.7

Compound annual growth

Revenue

+10.0%

−2.3%

+7.0%

+51.9%

Net income

−16.5%

EPS, diluted

−20.1%

3 yrs

5 yrs

10 yrs

15 yrs

Revenue compounded at −2.3% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

5 cents

of every revenue dollar became profit

Operating margin Net margin

FY2025 · Operating 8.6% · Net 4.9%

ROE

FY2025 · ROE 12.6%

Gross margin37.3%

Operating margin8.6%

Net margin4.9%

Return on assets5.5%

EBITDAUSD 31.9M

Each USD of equity produced 13 cents of profit this year.

Cash & shareholders

USD 17.0M

returned in FY2025 · dividends + net buybacks

Free cash flow $M

FY2025 · FCF 34.0

Net buybacks $M Dividends $M

FY2025 · Dividends — · Net buybacks 17.0

Dividends paid—

Net buybacksUSD 17.0M

Share of profit107.9%

Consecutive raises—

USD 17.0M in buybacks — 108% of the year's profit, so the payout drew on cash built up earlier.

Total assetsUSD 269.1M

EquityUSD 128.5M

CashUSD 17.0M

Gross debtUSD 54.9M

Net debtUSD 37.9M

Current ratio1.98×

Net debt stands at 30% of equity.

The 16-year record

16 fiscal years

Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative

Metric	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010
Revenue $B	0.3	0.4	0.3	0.2	0.4	0.4	0.2	0.3	0.1	0.2	0.2	0.2	0.2	0.2	0.0	0.0
Operating income $B	0.0	0.0	−0.0	−0.1	0.0	0.0	0.0	0.1	0.0	−0.1	−0.1	−0.0	0.0	0.0	−0.0	−0.0
EBITDA $B	0.0	0.0	−0.0	−0.0	0.0	0.1	0.0	0.1	0.0	−0.1	−0.1	−0.0	0.0	0.0	−0.0	·
Income tax $B	0.0	−0.0	0.0	0.0	0.0	0.0	−0.0	0.0	0.0	−0.0	0.0	−0.0	0.0	0.0	·	·
Net income $B	0.0	0.0	−0.0	−0.1	0.0	0.0	0.0	0.0	−0.0	−0.1	−0.1	−0.0	−0.0	0.0	−0.0	−0.0
Free cash flow $B	0.0	0.0	0.0	−0.0	−0.0	0.0	0.0	0.0	−0.0	−0.0	−0.0	−0.0	0.0	0.0	−0.0	0.0
EPS, diluted $	0.77	0.78	−1.03	−3.62	0.97	2.37	1.04	2.74	−0.26	−7.18	−1.96	−0.39	−0.49	0.13	−0.44	−0.06
Dividend / sh $	·	·	·	·	·	·	·	·	·	·	·	·	·	0.46	·	·
Payout %	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·	·
ROE %	12.6	15.7	−20.3	−51.7	13.7	43.1	35.6	511.0	·	−484.9	−88.3	−32.2	·	663.8	−394.3	−2842.2
Shares out B	0.02	0.02	0.02	0.02	0.02	0.02	0.01	0.01	0.01	0.05	0.04	0.04	0.01	0.01	0.00	0.02

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance

Company facts, as filed

How we verify · 0 failures in 80 reconciliationsAUDITED

Reconciled in 16 of 19 fiscal years. 15 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures

ActivityCommunications Equipment, NEC

Listed onNASDAQ

Incorporated inNevada

Fiscal year endsDecember 31

Data on record since2010