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Turtle Beach Corp

TBCH Clue Score46
United States Fiscal year ends December CIK 0001493761
$13.24 +4.01% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $13.24 −55.81% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue174.0Operating income−77.7Net income−87.2EPS, diluted−7.18Fiscal year 2017Revenue149.1 −14.3%Operating income4.8Net income−3.2EPS, diluted−0.26Fiscal year 2018Revenue287.4 +92.7%Operating income54.0Net income39.2EPS, diluted2.74Fiscal year 2019Revenue234.7 −18.4%Operating income10.4Net income17.9 −54.2%EPS, diluted1.04 −62.0%Fiscal year 2020Revenue360.1 +53.5%Operating income49.2Net income38.7 +115.9%EPS, diluted2.37 +127.9%Fiscal year 2021Revenue366.4 +1.7%Operating income20.4Net income17.7 −54.3%EPS, diluted0.97 −59.1%Fiscal year 2022Revenue240.2 −34.4%Operating income−51.5Net income−59.5 −436.0%EPS, diluted−3.62 −473.2%Fiscal year 2023Revenue258.1 +7.5%Operating income−16.4Net income−17.7EPS, diluted−1.03Fiscal year 2024Revenue372.8 +44.4%Operating income20.0Net income16.2EPS, diluted0.78Fiscal year 2025Revenue319.9 −14.2%Operating income27.5Net income15.7 −2.8%EPS, diluted0.77 −1.3%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 174.0 149.1 287.4 234.7 360.1 366.4 240.2 258.1 372.8 319.9
Growth −14.3% +92.7% −18.4% +53.5% +1.7% −34.4% +7.5% +44.4% −14.2%
Operating income −77.7 4.8 54.0 10.4 49.2 20.4 −51.5 −16.4 20.0 27.5
Net income −87.2 −3.2 39.2 17.9 38.7 17.7 −59.5 −17.7 16.2 15.7
Growth −54.2% +115.9% −54.3% −436.0% −2.8%
EPS, diluted −7.18 −0.26 2.74 1.04 2.37 0.97 −3.62 −1.03 0.78 0.77
Growth −62.0% +127.9% −59.1% −473.2% −1.3%

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2016Gross margin24.5%Operating margin−44.7%Net margin−50.1%Free cash flow margin−2.9%Fiscal year 2017Gross margin34.2%Operating margin3.2%Net margin−2.2%Free cash flow margin−0.7%Fiscal year 2018Gross margin37.8%Operating margin18.8%Net margin13.6%Free cash flow margin12.9%Fiscal year 2019Gross margin33.5%Operating margin4.4%Net margin7.6%Free cash flow margin16.0%Fiscal year 2020Gross margin37.2%Operating margin13.7%Net margin10.8%Free cash flow margin12.6%Fiscal year 2021Gross margin35.0%Operating margin5.6%Net margin4.8%Free cash flow margin−1.6%Fiscal year 2022Gross margin20.5%Operating margin−21.4%Net margin−24.8%Free cash flow margin−18.9%Fiscal year 2023Gross margin29.3%Operating margin−6.4%Net margin−6.8%Free cash flow margin9.6%Fiscal year 2024Gross margin34.6%Operating margin5.4%Net margin4.3%Free cash flow margin0.2%Fiscal year 2025Gross margin37.3%Operating margin8.6%Net margin4.9%Free cash flow margin10.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 24.5% 34.2% 37.8% 33.5% 37.2% 35.0% 20.5% 29.3% 34.6% 37.3%
Operating margin −44.7% 3.2% 18.8% 4.4% 13.7% 5.6% −21.4% −6.4% 5.4% 8.6%
Net margin −50.1% −2.2% 13.6% 7.6% 10.8% 4.8% −24.8% −6.8% 4.3% 4.9%
Free cash flow margin −2.9% −0.7% 12.9% 16.0% 12.6% −1.6% −18.9% 9.6% 0.2% 10.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2016Operating cash flow−1.8Capital expenditure−3.2Free cash flow−5.1Buybacks0.0Fiscal year 2017Operating cash flow3.4Capital expenditure−4.4Free cash flow−1.0Buybacks0.0Fiscal year 2018Operating cash flow42.2Capital expenditure−5.1Free cash flow37.2Buybacks−0.2Fiscal year 2019Operating cash flow39.4Capital expenditure−1.9Free cash flow37.5 +0.8%Buybacks−2.5Fiscal year 2020Operating cash flow51.0Capital expenditure−5.7Free cash flow45.4 +21.2%Fiscal year 2021Operating cash flow−0.3Capital expenditure−5.6Free cash flow−5.9 −113.1%Buybacks−4.9Fiscal year 2022Operating cash flow−41.8Capital expenditure−3.5Free cash flow−45.4Fiscal year 2023Operating cash flow27.0Capital expenditure−2.2Free cash flow24.9Buybacks−1.0Fiscal year 2024Operating cash flow5.8Capital expenditure−4.9Free cash flow0.8 −96.6%Buybacks−27.8Fiscal year 2025Operating cash flow35.5Capital expenditure−1.4Free cash flow34.0 +3,918.8%Buybacks−19.0
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −1.8 3.4 42.2 39.4 51.0 −0.3 −41.8 27.0 5.8 35.5
Capital expenditure −3.2 −4.4 −5.1 −1.9 −5.7 −5.6 −3.5 −2.2 −4.9 −1.4
Free cash flow −5.1 −1.0 37.2 37.5 45.4 −5.9 −45.4 24.9 0.8 34.0
Growth +0.8% +21.2% −113.1% −96.6% +3,918.8%
Buybacks 0.0 0.0 −0.2 −2.5 n/a −4.9 n/a −1.0 −27.8 −19.0

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash6.2Total debt28.3Net cash (debt)−22.1Shareholders’ equity−20.7Fiscal year 2017Cash5.2Total debt27.6Net cash (debt)−22.4Shareholders’ equity−22.2Fiscal year 2018Cash7.1Total debt0.0Net cash (debt)7.1Shareholders’ equity37.5Debt to equity0.00Fiscal year 2019Cash8.2Shareholders’ equity63.4Fiscal year 2020Cash46.7Shareholders’ equity116.4Fiscal year 2021Cash37.7Shareholders’ equity141.4Fiscal year 2022Cash11.4Shareholders’ equity88.9Fiscal year 2023Cash18.7Shareholders’ equity85.1Fiscal year 2024Cash13.0Total debt46.9Net cash (debt)−33.9Shareholders’ equity120.6Debt to equity0.39Fiscal year 2025Cash17.0Total debt54.9Net cash (debt)−37.9Shareholders’ equity128.5Debt to equity0.43
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 6.2 5.2 7.1 8.2 46.7 37.7 11.4 18.7 13.0 17.0
Total debt 28.3 27.6 0.0 n/a n/a n/a n/a n/a 46.9 54.9
Net cash (debt) −22.1 −22.4 7.1 n/a n/a n/a n/a n/a −33.9 −37.9
Shareholders’ equity −20.7 −22.2 37.5 63.4 116.4 141.4 88.9 85.1 120.6 128.5
Debt to equity n/a n/a 0.00 n/a n/a n/a n/a n/a 0.39 0.43

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Income statement

In millions of USD, except per-share figures; shares in millions. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Revenue and profit
174.0 149.1 287.4 234.7 360.1 366.4 240.2 258.1 372.8 319.9
Growth −14.3% +92.7% −18.4% +53.5% +1.7% −34.4% +7.5% +44.4% −14.2%
131.4 98.1 178.7 156.0 226.3 238.0 191.0 182.6 243.8 200.6
42.6 51.0 108.7 78.7 133.8 128.4 49.2 75.5 129.0 119.3
Growth +19.7% +113.1% −27.6% +70.0% −4.0% −61.7% +53.5% +70.8% −7.5%
8.3 5.6 5.6 7.9 12.3 17.5 19.1 17.1 17.3 16.9
19.6 15.7 16.7 21.8 25.6 31.6 32.6 31.3 28.4 30.4
−77.7 4.8 54.0 10.4 49.2 20.4 −51.5 −16.4 20.0 27.5
Growth +1,026.3% −80.7% +371.5% −58.4% −352.0% +37.4%
−87.6 −2.7 40.9 11.7 52.5 20.1 −54.5 −17.3 10.7 16.8
−0.4 0.6 1.7 −6.2 13.7 2.4 5.1 0.3 −5.5 1.1
−87.2 −3.2 39.2 17.9 38.7 17.7 −59.5 −17.7 16.2 15.7
Growth −54.2% +115.9% −54.3% −436.0% −2.8%
Per share
−7.18 −0.26 2.90 1.24 2.62 1.11 −3.62 −1.03 0.81 0.78
−7.18 −0.26 2.74 1.04 2.37 0.97 −3.62 −1.03 0.78 0.77
Growth −62.0% +127.9% −59.1% −473.2% −1.3%
12.1 12.3 13.5 14.5 14.8 15.9 20.3 17.1 20.0 20.3
12.1 12.3 14.3 15.7 16.4 18.3 20.5 17.1 20.8 20.5
Growth +1.5% +15.8% +9.8% +4.3% +11.5% +12.1% −16.2% +21.6% −1.8%

Five years in brief

Worked out from the figures above, not from a press release
  • Revenue shrank 2.3% a year over five years, and earnings per share fell 20.1% a year.
  • The diluted share count rose 25.0% in five years, which is dilution.
  • Operating margin is down 5.1 points on five years ago, at 8.6%.
  • A net loss in 4 of 10 years on file.