Turtle Beach Q2 revenue $56.8M, gross margin up 200bps; refinances debt, $75M buyback

Turtle Beach Corp

2025-Q2 EPS reported -$0.17 revenue$120,678,000

Net revenue $56.8M; gross margin 32.2% (+200bps YoY); net loss $2.9M vs $7.5M prior year.
Adjusted EBITDA of ($3.0M); full-year guidance reiterated: rev $340-360M, Adj. EBITDA $47-53M.
Refinanced debt with $150M facility: $90M revolver + $60M term loan; cost cut ~450bps, saving >$2M annually.
Board authorized $75M share repurchase program; $5M repurchased in Q2 2025.
Management cites cost optimization, tariff mitigation; expects H2 recovery supporting guidance.

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