secwatch.observer — SEC 8-K summary
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Issuer:     Turtle Beach Corp (TBCH)
CIK:        0001493761
Form:       8-K/A
Filed at:   2024-05-29T23:59:59+00:00
Accession:  0001193125-24-148319
Event type: m_and_a
Sentiment:  negative
Materiality: 0.75
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Turtle Beach acquisition target PDP reports $91.2M revenue, $7.0M net loss for FY2023
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- PDP net sales $91.2M in FY2023, down 17% from $110.2M in FY2022; net loss widened to $7.0M from $3.7M.
- Operating loss of $5.5M in FY2023 vs operating income of $2.4M in FY2022; gross margin fell to 21.7% from 24.9%.
- As of March 31, 2023, PDP had $1.25M member's equity, $23.5M revolving loan, and $6.2M current portion of long-term debt.
- Inventory reserve more than doubled to $3.4M, including $2.4M for obsolete component inventory.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1493761/000119312524148319/0001193125-24-148319-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1493761/000119312524148319/d760902d8ka.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-148319

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