---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-030793"
form_type: "8-K"
ticker: "TBCH"
cik: "0001493761"
company_name: "Turtle Beach Corp"
filed_at: "2024-03-13T23:59:59+00:00"
generated_at: "2026-06-04T22:09:05.068915+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.78
calibrated_materiality_score: 0.78
confidence: "high"
source: SEC EDGAR
---

# Turtle Beach Q4 profit $8.6M, rev down 1.3%; FY revenue up 7.5% to $258M; announces PDP acquisition

## Summary
- Q4 2023 net revenue $99.5M (-1.3% YoY); net income $8.6M ($0.47 diluted EPS) vs. net loss $23.2M ($1.40 loss per share).
- Full-year 2023 net revenue $258.1M (+7.5% YoY); net loss improved to $17.7M (-$1.03) from $59.5M (-$3.62) in 2022.
- Adjusted EBITDA improved to $14.0M in Q4 vs. $1.0M; full-year $6.5M vs. -$29.9M. Gross margin expanded to 32.0% from 19.8%.
- Management announced highly accretive acquisition of PDP, expected to diversify leadership and enhance scale. Non-headset revenue >40% in 2024.
- Recurring operating expenses declined ~12.6% YoY in Q4; portfolio optimization and SKU rationalization benefits expected in 2024.

## SEC filing metadata
- accession: 0000950170-24-030793
- form_type: 8-K
- ticker: TBCH
- cik: 0001493761
- company_name: Turtle Beach Corp
- filed_at: 2024-03-13T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.78
- calibrated_materiality_score: 0.78
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1493761/000095017024030793/0000950170-24-030793-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1493761/000095017024030793/hear-20240313.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-030793
- JSON: https://secwatch.observer/filing/0000950170-24-030793.json
- Plain text: https://secwatch.observer/filing/0000950170-24-030793.txt

## Key facts
- Earnings Releases
  Turtle Beach Corp reported year ended December 31, 2023 results: revenue 258.1 million, net income -17.7 million, EPS -1.03.
  - Period: year ended December 31, 2023
  - Revenue: 258.1 million
  - Net income: -17.7 million
  - EPS: -1.03
  - Result: reported results
  source text: Net revenue was $258.1 million, an increase of 7.5% compared to $240.2 million a year ago; • Net loss was $17.7 million, or $1.03 per diluted share, compared to $59.5 million, or $3.62 per diluted share, a year ago;
  evidence_url: https://www.sec.gov/Archives/edgar/data/1493761/000095017024030793/0000950170-24-030793-index.htm
- Earnings Releases
  Turtle Beach Corp reported fourth quarter ended December 31, 2023 results: revenue 99.5 million, net income 8.6 million, EPS 0.47.
  - Period: fourth quarter ended December 31, 2023
  - Revenue: 99.5 million
  - Net income: 8.6 million
  - EPS: 0.47
  - Result: reported results
  source text: Net revenue was $99.5 million, a decrease of 1.3% compared to $100.9 million a year ago; • Net income was $8.6 million, or $0.47 per diluted share, compared to net loss of $23.2 million, or $1.40 per diluted share, a year ago;
  evidence_url: https://www.sec.gov/Archives/edgar/data/1493761/000095017024030793/0000950170-24-030793-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.