Welcome to our dedicated page for Turtle Beach Corporation news (Ticker: HEAR), a resource for investors and traders seeking the latest updates and insights on Turtle Beach Corporation stock.
Turtle Beach Corporation (NASDAQ: HEAR) designs innovative, market-leading audio products that cater to a global audience. Under its award-winning Turtle Beach brand, the company offers a vast selection of highly acclaimed gaming headsets compatible with Xbox One, PlayStation®4, personal computers, and mobile/tablet devices. These headsets are recognized for their superior sound quality and ergonomic design, solidifying Turtle Beach as a leader in the gaming accessories market.
Beyond headsets, the company has expanded its product lineup to include game controllers, flight and racing simulation accessories, keyboards, mice, and high-quality microphones. Turtle Beach operates on a global scale, with products available through major retailers like Amazon, Argos, Best Buy, GAME, GameStop, EB Games, Media Markt, Saturn, Target, and Walmart. A substantial portion of the company's revenue is generated during the holiday season, with North America being its largest market.
Through its HyperSound brand, Turtle Beach markets pioneering directed audio solutions utilized in digital signage, kiosks, consumer electronics, and hearing healthcare. These innovative products are designed to offer a more focused and immersive audio experience, making significant strides in both commercial and consumer sectors.
With nearly five decades of expertise in audio technology, Turtle Beach continues to innovate and expand its product offerings. The company's commitment to delivering high-quality audio solutions is evident in its numerous partnerships and recent achievements. Turtle Beach's financial condition remains robust, with continuous efforts to develop new technologies and enhance user experiences.
Turtle Beach (HEAR) reported strong Q3 2024 results with net revenue of $94.4 million, up 60% year-over-year. The company achieved net income of $3.4 million ($0.16 per diluted share) compared to a net loss of $(3.6) million in the prior year. Adjusted EBITDA significantly improved to $16.3 million from $1.0 million last year. Organic revenue grew 15% excluding PDP acquisition contributions. The company raised its full-year 2024 Adjusted EBITDA guidance to $55-58 million and maintained revenue guidance of $370-380 million. During Q3, the company repurchased $10.1 million worth of common shares.
Turtle Beach (Nasdaq: HEAR) announced it will release its third quarter 2024 financial results on Thursday, November 7, 2024, after Nasdaq's market close. The company will host a conference call and webcast at 5:00 p.m. ET / 2:00 p.m. PT on the same day, featuring CEO Cris Keirn and CFO John Hanson. Investors can join via webcast on the company's website or by phone at 1-800-717-1738 or 1-646-307-1865. A replay will be available through November 21, 2024.
Turtle Beach (Nasdaq: HEAR) is expanding its presence in key international markets, including Canada and Latin America. In Canada, Turtle Beach's latest gaming accessories are now available at Best Buy Canada, with several products receiving high review scores from Canadian publications. In Latin America, the company is growing its product catalog in Mexico and Colombia, and expanding into Chile.
The expansion includes gaming accessories from both Turtle Beach and Performance Designed Products (PDP), which Turtle Beach acquired earlier in 2024. New products being launched in these markets include the Stealth series wireless headsets, Atlas Air wireless PC headset, Vulcan II TKL Pro keyboard, Burst II Air mouse, and various controllers. The company aims to improve its market share in Canada and establish a stronger presence in Latin American countries.
Turtle Beach (Nasdaq: HEAR) has announced the planned retirement of CFO John Hanson after an 11-year tenure. The company has engaged Korn Ferry to assist in finding a successor, considering both external and internal candidates. Hanson will remain in his role until a successor is appointed and then transition to an advisory capacity.
CEO Cris Keirn praised Hanson's pivotal role in transforming Turtle Beach from a gaming audio business to a global leader in high-performance gaming accessories. Hanson expressed confidence in the company's future, citing strong Q2 results with 59% year-over-year revenue growth and an upward revision to Adjusted EBITDA guidance. He emphasized Turtle Beach's well-defined strategy for sustained growth and profitability.
Turtle Beach (Nasdaq: HEAR) reported strong Q2 2024 results, with net revenue of $76.5 million, up 59% year-over-year. The company saw significant gross margin expansion and improved profitability, with Adjusted EBITDA reaching $3.0 million, a $8.7 million improvement from the prior year. Turtle Beach is raising its full-year 2024 guidance for Adjusted EBITDA to between $53 and $56 million, up from the previous range of $51-$54 million. The company also repurchased $15 million of common shares in Q2 and plans to continue share repurchases at attractive price levels. The successful integration of PDP is yielding synergies and expanding market opportunities, contributing to the company's strong performance.
Turtle Beach (Nasdaq: HEAR), a leading gaming headset and accessories brand, has announced it will report its second quarter 2024 financial results on Thursday, August 8, 2024 after the Nasdaq Stock Market closes. The company will host a conference call and audio webcast at 5:00 p.m. ET / 2:00 p.m. PT on the same day to review the results.
During the call, CEO Cris Keirn and CFO John Hanson will discuss the Q2 results and provide commentary on business performance. The event will include a Q&A session with analysts and investors. A live webcast will be available on the company's website, and participants can access the call via a registration link for dial-in details.
Turtle Beach (Nasdaq: HEAR) has appointed Libby Bush, Global Head of Media & Entertainment Partnerships at Creative Artists Agency (CAA), to its board of directors as an independent director. Bush joins the Compensation Committee, bringing the total board members to nine. William Wyatt, an independent board member since 2023, has been named Chair of the Compensation Committee.
Bush brings over 20 years of experience in media and entertainment, specializing in marketing and strategic growth initiatives. At CAA, she oversees a team of 25 and advises high-profile clients and major media companies. Previously, she founded Tandem Entertainment and held positions with the NBA, WNBA, and Walt Disney Company.
The appointment aims to strengthen Turtle Beach's board with Bush's expertise in building consumer brands and expanding business opportunities.
Turtle Beach (Nasdaq: HEAR) and Performance Designed Products (PDP) have announced two new -edition designs for their Victrix Pro FS Arcade Fight Stick line.
The King of Fighters Fight Sticks, available now for PS5, PS4, and Windows PC, include unique features such as built-in carrying handles, foam lap pads, and Tournament Lock Mode buttons. Each stick is serialized and priced at $499.99.
The TEKKEN 8 Fight Sticks, also priced at $499.99, will launch in August 2024 and offer similar features. Additionally, PDP will release TEKKEN 8-themed products like the Victrix Pro BFG Wireless Controller and the Victrix Tournament Backpack.
Both Fight Sticks are officially licensed and feature durable materials and customizable components. These releases underscore PDP's commitment to high-performance gaming gear.
Turtle Beach announced the launch of several new gaming accessories, including redesigned headsets, keyboards, and mice, available globally. Key products include the Stealth 600 and Stealth 500 wireless gaming headsets, priced at $99.99 and $79.99 respectively, offering features like Bluetooth, long battery life, and powerful audio drivers. The Atlas Air is the first wireless open back PC gaming headset with high-fidelity 24-bit audio quality, priced at $179.99.
The Vulcan II TKL Pro keyboard features magnetic Hall Effect switches, enhanced responsiveness, and customizable RGB lighting for $149.99. The Burst II Air wireless mouse, weighing only 47 grams, provides high precision and fast actuation, retailing at $99.99. All products are available on Turtle Beach's website and select retailers.
Turtle Beach (Nasdaq: HEAR) and Performance Designed Products (PDP) have announced the release of the Victrix Gambit Prime Wired Tournament Controller for Xbox Series X|S, Xbox One, and PC. This controller, priced at $79.99, is engineered for speed and maximum customization, featuring patented Dual Core™ Technology for up to 8x faster input responses and 12 swappable components. The controller also includes Clutch Triggers™ with five trigger stops and a free Victrix Control Hub app for further customization. The product is available on PDP's website and Amazon.
FAQ
What is the current stock price of Turtle Beach Corporation (HEAR)?
What is the market cap of Turtle Beach Corporation (HEAR)?
What does Turtle Beach Corporation specialize in?
What is the Turtle Beach brand known for?
Under what brands does Turtle Beach Corporation operate?
Where can Turtle Beach products be purchased?
What markets does Turtle Beach Corporation serve?
What are the applications of HyperSound products?
How long has Turtle Beach Corporation been in the audio technology industry?
What are some of the recent achievements of Turtle Beach Corporation?
How does Turtle Beach Corporation generate most of its revenue?
What is the significance of Turtle Beach Corporation's financial condition?
