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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) announced the adoption of a limited duration stockholder rights plan, declaring a dividend distribution of one right for each outstanding share of common stock. The record date for this distribution is April 10, 2023, and the plan is set to expire on March 28, 2024. This Rights Plan aims to protect stockholder interests from potentially harmful actions by third parties and allows the Board time to make informed decisions. The Rights become exercisable only if someone acquires 12% or more of the stock without Board approval. The plan is not a response to any specific takeover bid, ensuring it does not deter fair offers.
Turtle Beach Corporation (Nasdaq: HEAR) has introduced the Stealth Pro, its flagship wireless gaming headset. Priced at $329.99, the headset features large 50mm Nanoclear drivers for enhanced sound quality and 25dB active noise-cancellation. Compatible with various platforms including Xbox and PlayStation, the Stealth Pro boasts dual microphones and proprietary S.M.A.R.T. technology for voice clarity. Scheduled for release on
Turtle Beach Corporation (Nasdaq: HEAR) has announced an extension of its share repurchase program, now valid until
Turtle Beach Corporation (Nasdaq: HEAR) reported Q4 and full-year 2022 financial results, revealing a net revenue of $100.9 million for Q4, a decline from $109.4 million a year prior. The company faced a net loss of $23.2 million, compared to a profit of $4.5 million in Q4 2021. For the full year, net revenue was $240.2 million, down from $366.4 million in 2021. The gross margin decreased to 20.5% from 35.0%, influenced by competitive pricing and high freight costs. Despite challenges, Turtle Beach expects a 10% revenue increase in 2023, forecasting adjusted EBITDA of approximately $5 million, showing optimism for market recovery and long-term growth prospects.
Turtle Beach Corporation (NASDAQ: HEAR) has introduced two new color options, Teal and Pink, for its Stealth 600 Gen 2 MAX wireless gaming headset. These variants are notable as they are the company’s first certified CarbonNeutral products, reflecting Turtle Beach's commitment to sustainability. The Stealth 600 Gen 2 MAX features over 48 hours of battery life and compatibility with multiple gaming systems. It is priced at
Turtle Beach Corporation (NASDAQ: HEAR) will report its fourth quarter 2022 financial results on March 13, 2023. A conference call will take place at 5:00 p.m. ET, featuring Chairman and CEO Juergen Stark and CFO John Hanson. The call can be accessed via a live webcast or by phone with registration. Turtle Beach is a leading provider of gaming accessories, known for its innovative products including gaming headsets and controllers, making it a market leader in console gaming audio.
Forward-looking statements are included, cautioning against risks that may affect actual results.
Turtle Beach Corporation (NASDAQ: HEAR) has launched the Magma Mini 60% Gaming Keyboard, priced at
Turtle Beach Corporation (NASDAQ: HEAR) announced that its VelocityOne Flight Universal Control System has become the best-selling flight controller in both the U.S. and UK for the year 2022. According to sales data from The NPD Group and GfK Entertainment, it achieved this status based on dollar sales in the U.S. and revenue in the UK. The VelocityOne Flight, which debuted at E3 2021, has received multiple accolades and was highly praised by gaming publications, earning top review scores. The company continues to innovate with product expansions like the VelocityOne Rudder and Flightstick.
Turtle Beach Corporation (NASDAQ: HEAR) has announced a multi-year extension of its partnership with popular streamer DrDisRespect. The agreement allows DrDisRespect to continue showcasing Turtle Beach and ROCCAT gaming accessories, including products like the Stealth 700 headset and Vulcan TKL keyboard. This collaboration began in June 2017 and has proven beneficial as DrDisRespect enjoys a large following on YouTube. CEO Juergen Stark expressed enthusiasm over this continued partnership, emphasizing the significance of their collaboration in the gaming industry.
Turtle Beach Corporation (NASDAQ: HEAR) has launched the Magma Mini 60% Gaming Keyboard, a compact keyboard ideal for PC gamers. This new model offers a $49.99 MSRP and features five programmable RGB light zones, soft membrane switches, and IP33-rated water and dust resistance. With AIMO RGB lighting, gamers can enjoy customizable lighting effects. Additionally, the keyboard incorporates EasyShift[+] technology for expanded key functionality, making it suitable for gamers seeking performance in a smaller form factor.
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