Turtle Beach Q2 revenue up 16% to $48.0M, net loss narrows to $15.9M; maintains full-year guidance

Turtle Beach Corp

2023-Q2 EPS reported -$1.34 revenue$99,426,000

Net revenue $48.0M (+16% YoY); gross margin improved to 24.7% from 19.1%.
Net loss $15.9M ($0.93 diluted EPS) vs $17.8M loss prior year; adjusted net loss $7.0M ($0.41).
Adjusted EBITDA loss improved to $5.6M from $12.1M in prior year.
Maintains FY2023 revenue and adjusted EBITDA guidance; targets $25-$30M adjusted EBITDA run-rate by year-end.
Value Enhancement Committee continues evaluating strategic alternatives; Stealth Pro headset captured 15%+ premium tier share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.92

Turtle Beach Corp reported the second quarter ended June 30, 2023 results: revenue $48.0 million, net income $15.9 million, EPS ($0.93) per diluted share. Guidance raised.

Period: the second quarter ended June 30, 2023
Revenue: $48.0 million
Net income: $15.9 million
EPS: ($0.93) per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

HEAR) (“Turtle Beach” or the “Company”) reported financial results for the second quarter ended June 30, 2023. Second Quarter Summary vs Year-Ago Quarter: • Net revenue was $48.0 million, an increase of 16% compared to $41.3 million a year ago; • Net loss was $15.9 million, or $0.93 per diluted share, compared to net loss of $17.8 million, or $1.08 per diluted

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Source: SEC EDGAR

accession 0000950170-23-039092

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