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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 Corporation (NASDAQ: HEAR) has launched its REACT-R™ Controller for Xbox and PC gamers at an MSRP of
Turtle Beach Corporation (Nasdaq: HEAR) reported its Q2 2022 results, with net revenue at $41.3 million, down from $78.6 million year-over-year. The company faced a net loss of $(17.8) million, equating to $(1.08) per diluted share, contrasting with a net income of $1.7 million last year. Adjusted EBITDA also turned negative at $(12.1) million. The decline was attributed to rising inflation, supply chain issues, and a strong dollar. While management remains optimistic about the gaming market's long-term prospects, they anticipate revenue for the full year to be between $250 million and $275 million.
Turtle Beach Corporation (NASDAQ: HEAR) has concluded its review of strategic alternatives, including a potential sale, after engaging with 109 parties. The Board's Strategic Committee found no suitable acquisition proposals due to current market dynamics, a challenging financing environment, and inflation impacting consumer discretionary spending. Despite robust interest, the outreach to potential buyers will stop, although the committee will continue evaluating strategic opportunities. The company remains committed to maximizing stockholder value as a standalone business, emphasizing confidence in its prospects in the gaming market.
Turtle Beach Corporation (NASDAQ: HEAR) will report its second quarter 2022 financial results on August 8, 2022. A conference call is scheduled for 5:00 p.m. ET, featuring CEO Juergen Stark and CFO John Hanson. Investors can access the call via phone or through a live webcast on the company's website. Turtle Beach is a prominent player in the gaming accessory industry, known for high-quality headsets and gaming products. The company recently expanded its product line to include game controllers and simulation accessories.
Turtle Beach Corporation (Nasdaq: HEAR) announced the launch of the Kone XP Air, a new wireless customizable RGB gaming mouse, enhancing its ROCCAT brand's lineup. Built on 15 years of research, the mouse features a precise 19K DPI optical sensor, Titan Optical Switches for fast response times, and a lightweight design at just 99g. It includes a Rapid Charge Dock with up to 100 hours of gameplay per charge, available for pre-order at $169.99. The Kone XP Air will be officially released on
Turtle Beach Corporation (Nasdaq: HEAR) has launched the new Designed for Xbox REACT-R™ Controller, priced at
Turtle Beach Corporation (NASDAQ: HEAR) has strengthened its partnership with Gen.G Esports, becoming the audio partner for the Seoul Dynasty Overwatch League team. This collaboration allows Gen.G's teams to utilize Turtle Beach and ROCCAT products, showcasing their premium gaming gear like the Syn Pro Air headsets and Elite Pro 2 headsets. Following a successful first year, this partnership aims to enhance gaming experiences and create engaging content for fans, while furthering Turtle Beach's growth in the Korean market.
Turtle Beach (NASDAQ: HEAR) has partnered with Chauncey Gardner-Johnson, New Orleans Saints safety, to showcase its gaming accessories including popular ROCCAT products. Gardner-Johnson will utilize Turtle Beach's console and PC gaming accessories, enhancing visibility for the brand among gamers. His setup includes the Kone Pro Air mouse, Vulcan TKL Pro keyboard, and Syn Pro Air headset, showcasing the aim for quality and performance. This collaboration reflects Turtle Beach's strategy of aligning with pro athletes and influencers to drive brand awareness in the competitive gaming market.
Turtle Beach Corporation (NASDAQ: HEAR) has entered into a Cooperation Agreement with Donerail Group for a significant refresh of its Board of Directors. The agreement includes the immediate appointment of three new directors from Donerail's slate and the formation of a Strategic Committee to explore all strategic alternatives, including potential buyers. This Committee will consist of both new and incumbent directors, ensuring a focus on maximizing shareholder value. CEO Juergen Stark emphasized the goal of enhancing the company's long-term potential within a $9 billion market.
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