secwatch.observer — SEC 8-K summary
======================================

Issuer:     Turtle Beach Corp (TBCH)
CIK:        0001493761
Form:       8-K
Filed at:   2023-03-13T23:59:59+00:00
Accession:  0000950170-23-007584
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Turtle Beach reports Q4 loss $1.40/share, FY rev $240.2M; guides ~10% growth in FY2023
--------------------------------------------------------------------------------

- Q4 net revenue $100.9M, down 7.8% YoY; net loss $23.2M ($1.40 diluted) vs net income $4.5M a year ago.
- Full-year 2022 net revenue $240.2M, down from record $366.4M; net loss $59.5M ($3.62 diluted) vs net income $17.7M.
- Q4 gross margin 19.8% vs 32.5% a year ago, impacted by promotional pricing, $4.5M inventory charge, and high freight costs.
- FY2022 adjusted EBITDA loss $18.7M vs positive $36.6M in 2021; recurring operating expenses down ~13% YoY.
- Management expects FY2023 net revenue to increase ~10%; cites recovering gaming market and return to positive EBITDA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1493761/000095017023007584/0000950170-23-007584-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1493761/000095017023007584/hear-20230313.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-007584

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer