HEAR · Turtle Beach Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $319.91M | $372.77M | $258.12M | $240.17M | $366.35M | $360.09M |
| Cost of Revenue | $200.63M | $243.78M | $182.62M | $190.98M | $237.97M | $226.31M |
| Gross Profit | $119.28M | $128.98M | $75.50M | $49.19M | $128.38M | $133.79M |
| R&D | $16.89M | $17.30M | $17.14M | $19.12M | $17.49M | $12.27M |
| SG&A | $30.37M | $28.39M | $31.32M | $32.56M | $31.58M | $25.58M |
| Total Operating Expenses | $91.77M | $108.95M | $91.95M | $100.67M | $107.95M | $84.62M |
| D&A | $4.37M | $4.41M | $3.83M | $4.58M | $4.05M | $4.36M |
| Operating Income | $27.52M | $20.03M | ($16.44M) | ($51.48M) | $20.43M | $49.17M |
| Interest Expense | $7.90M | $8.30M | $504.0K | $1.22M | $383.0K | $467.0K |
| Income Tax | $1.07M | ($5.51M) | $338.0K | $5.09M | $2.43M | $13.71M |
| Net Income | $15.73M | $16.18M | ($17.68M) | ($59.55M) | $17.72M | $38.75M |
| EPS - Basic | $0.78 | $0.81 | ($1.03) | ($3.62) | $1.11 | $2.62 |
| EPS - Diluted | $0.77 | $0.78 | ($1.03) | ($3.62) | $0.97 | $2.37 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $16.96M | $12.99M | $18.73M | $11.40M | $37.72M | $46.68M |
| Accounts Receivable | $76.80M | $93.12M | $54.39M | $43.34M | $35.95M | $43.87M |
| Inventory | $69.22M | $71.25M | $44.02M | $71.25M | $101.93M | $71.30M |
| Accounts Payable | $24.93M | $34.84M | $26.91M | $19.85M | $40.48M | $42.53M |
| Current Assets | $173.81M | $188.37M | $124.86M | $135.18M | $193.11M | $169.98M |
| Total Assets | $269.05M | $298.86M | $149.97M | $163.39M | $230.50M | $203.45M |
| Current Liabilities | $87.68M | $123.67M | $56.33M | $64.33M | $78.17M | $78.65M |
| Long-term Debt | $46.34M | $45.62M | - | - | - | - |
| Total Liabilities | $140.56M | $178.26M | $64.89M | $74.45M | $89.14M | $87.05M |
| Stockholders' Equity | $128.50M | $120.60M | $85.08M | $88.94M | $141.37M | $116.40M |
| Retained Earnings | ($102.36M) | ($118.09M) | ($134.28M) | ($116.60M) | ($57.05M) | ($74.77M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | $35.46M | $5.76M | $27.04M | ($41.85M) | ($327.0K) | $51.05M |
| Investing Cash Flow | $1.10M | ($82.21M) | ($2.16M) | ($3.55M) | ($8.12M) | ($5.66M) |
| Financing Cash Flow | ($32.58M) | $71.05M | ($17.85M) | $19.71M | ($56.0K) | ($7.41M) |
| CapEx | $1.42M | $4.91M | $2.16M | $3.55M | $5.62M | $5.66M |
| Free Cash Flow | $34.04M | $847.0K | $24.89M | ($45.40M) | ($5.95M) | $45.39M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 37.3% | 34.6% | 29.3% | 20.5% | 35.0% | 37.2% |
| Operating margin | 8.6% | 5.4% | -6.4% | -21.4% | 5.6% | 13.7% |
| EBITDA margin | 10.0% | 6.6% | -4.9% | -19.5% | 6.7% | 14.9% |
| Net margin | 4.9% | 4.3% | -6.8% | -24.8% | 4.8% | 10.8% |
| Free cash flow margin | 10.6% | 0.2% | 9.6% | -18.9% | -1.6% | 12.6% |
| FCF / Net income | 2.16 | 0.05 | -1.41 | 0.76 | -0.34 | 1.17 |
| R&D / Revenue | 5.3% | 4.6% | 6.6% | 8.0% | 4.8% | 3.4% |
| SG&A / Revenue | 9.5% | 7.6% | 12.1% | 13.6% | 8.6% | 7.1% |
| Effective tax rate | 6.4% | -51.6% | - | - | 12.1% | 26.1% |
| Return on assets | 5.8% | 5.4% | -11.8% | -36.4% | 7.7% | 19.0% |
| Return on equity | 12.2% | 13.4% | -20.8% | -67.0% | 12.5% | 33.3% |
| Return on invested capital | 14.7% | 12.0% | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 1.98 | 1.52 | 2.22 | 2.10 | 2.47 | 2.16 |
| Quick ratio | 1.19 | 0.95 | 1.43 | 0.99 | 1.17 | 1.25 |
| Cash ratio | 0.19 | 0.11 | 0.33 | 0.18 | 0.48 | 0.59 |
| Leverage | ||||||
| Debt / Equity | 0.36 | 0.38 | - | - | - | - |
| Debt / Assets | 0.17 | 0.15 | - | - | - | - |
| Debt / EBITDA | 1.45 | 1.87 | - | - | - | - |
| Interest coverage | 3.5x | 2.4x | -32.6x | -42.2x | 53.3x | 105.3x |
| Equity multiplier | 2.09 | 2.48 | 1.76 | 1.84 | 1.63 | 1.75 |
| Liabilities / Assets | 0.52 | 0.60 | 0.43 | 0.46 | 0.39 | 0.43 |
| Efficiency | ||||||
| Asset turnover | 1.19 | 1.25 | 1.72 | 1.47 | 1.59 | 1.77 |
| Inventory turnover | 2.90 | 3.42 | 4.15 | 2.68 | 2.33 | 3.17 |
| Days sales outstanding | 88d | 91d | 77d | 66d | 36d | 44d |
| Days inventory outstanding | 126d | 107d | 88d | 136d | 156d | 115d |
| Days payable outstanding | 45d | 52d | 54d | 38d | 62d | 69d |
| Cash conversion cycle | 168d | 146d | 111d | 164d | 130d | 91d |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - |
| Growth | ||||||
| Revenue growth (YoY) | -14.2% | 44.4% | 7.5% | -34.4% | 1.7% | 25.3% |
| Revenue CAGR (3y) | 10.0% | 0.6% | -10.5% | -5.8% | 28.2% | 34.2% |
| Revenue CAGR (5y) | -2.3% | 5.3% | 8.2% | 10.0% | 16.1% | 17.2% |
| Gross profit growth (YoY) | -7.5% | 70.8% | 53.5% | -61.7% | -4.0% | 70.0% |
| Operating income growth (YoY) | 37.4% | - | 68.1% | - | -58.4% | 371.5% |
| Net income growth (YoY) | -2.8% | - | 70.3% | - | -54.3% | 115.9% |
| EPS growth (YoY) | -1.3% | - | 71.5% | - | -59.1% | 127.9% |
| EPS CAGR (3y) | - | -7.0% | - | - | -29.3% | - |
| EPS CAGR (5y) | -20.1% | -5.6% | - | - | - | - |
| FCF growth (YoY) | 3918.8% | -96.6% | - | -663.2% | - | 21.2% |
| FCF CAGR (5y) | -5.6% | -53.1% | -7.7% | - | - | - |
| Book value growth (YoY) | 6.5% | 41.8% | -4.3% | -37.1% | 21.5% | 83.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$319.91M totalUS$235.66M · 73.7%
Europe And Middle East$71.00M · 22.2%
Asia Pacific$13.26M · 4.1%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
1.80
Grey zone
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
7/9
Strong
- ✓Net income positive
- ✓Operating cash flow positive
- ✓ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✓Current ratio improved
- ✓No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Communications Equipment, NEC
Comparing Turtle Beach Corp against the 5 most active filers in the same SIC group.