Turtle Beach Q1 2024: Revenue $55.8M (+8.6% YoY), net income $0.01 EPS vs loss $0.40; Adj EBITDA positive $1.4M

Turtle Beach Corp

2024-Q1 EPS reported $0.01 revenue$55,848,000

Net revenue $55.8M, +8.6% YoY; gross margin expanded 430 bps due to lower freight, promo spend, returns.
Net income $0.2M ($0.01 diluted EPS) vs net loss $6.7M ($0.40 loss) a year ago.
Adjusted EBITDA improved to $1.4M from -$2.8M loss in prior year.
Operating expenses $23.5M including $5.0M acquisition-related costs; cash-based recurring opex down ~6% YoY.
CEO cites solid product demand, PDP integration, cost management driving profitability.

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 0.95

Turtle Beach Corp reported first quarter ended March 31, 2024 results: revenue $55.8 million, net income $0.2 million, or $0.01 per diluted share, EPS $0.01 per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $55.8 million
Net income: $0.2 million, or $0.01 per diluted share
EPS: $0.01 per diluted share
Result: reported results

Exact text from the filing

a leading gaming accessories brand, today reported financial results for the first quarter ended March 31, 2024. First Quarter Summary vs Year-Ago Quarter: • Net revenue was $55.8 million, an increase of 8.6% compared to $51.4 million a year ago; • Net income was $0.2 million, or $0.01 per diluted share, compared to net loss of $6.7 million, or $0.40 per diluted

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Source: SEC EDGAR

accession 0000950170-24-054548

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