Turtle Beach Q1 net loss $15.2M, generates $29.4M cash from ops; reaffirms FY guidance

Turtle Beach Corp

2026-Q1 EPS reported -$0.78 revenue$42,172,000

Q1 net revenue $42.2M, gross margin 26.8%, net loss ($15.2M), adjusted EBITDA ($6.5M).
Operating cash flow $29.4M; net debt $41.3M after paying off $53.6M revolver to zero.
Reaffirmed FY2026 guidance: net revenue $335-355M (5-11% YoY growth), adjusted EBITDA $44-48M.
Refinanced debt on May 4: new $80M ABL (BofA) and $85M term loan (Blue Torch), replacing prior $150M facility.
Share repurchase program has $56M remaining under $75M authorization; $50M repurchased since 2024.

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