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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) reported Q3 2022 results, revealing net revenue of $51.3 million, down from $85.3 million year-over-year. The company faced a net loss of $(12.0) million, or $(0.73) per diluted share, contrasting with a net income of $2.6 million a year ago. Adjusted EBITDA loss was $(6.9) million, impacted by lower demand and high freight costs. Although operating expenses decreased by 25%, gross margin plummeted to 14.1%. The company expects approximately $250 million in net revenues for FY 2022 and anticipates returning to revenue growth in 2023.
Turtle Beach Corporation (NASDAQ: HEAR) has launched the VelocityOne Rudder, enhancing their lineup of gaming simulation accessories. Priced at
Turtle Beach announced the appointment of Terry Jimenez to its Board of Directors, enhancing its leadership with his 30 years of business and financial experience. Jimenez, former CEO of Tribune Publishing, will also join the Nominating and Governance Committee. His addition follows a commitment to board refreshment agreed upon with shareholders in May 2022. This change comes as the board re-evaluates strategic opportunities after concluding its Strategic Review Process. The board now consists of eight directors, with seven being independent, and aims to drive value for shareholders.
Turtle Beach Corporation (Nasdaq: HEAR) has launched the Kone Air Wireless Ergonomic Gaming Mouse, designed for both productivity and gaming. It features a patented ergonomic shape, lag-free 2.4GHz wireless and Bluetooth connectivity, and boasts a remarkable battery life of over 800 hours. The mouse, available for
Turtle Beach Corporation (NASDAQ: HEAR) plans to announce its financial results for Q3 2022 on November 3, 2022. The company's Chairman and CEO, Juergen Stark, alongside CFO John Hanson, will discuss the results during a conference call at 5:00 p.m. ET. Interested participants can join via phone or through a live webcast on Turtle Beach's website. The event will provide insights into Turtle Beach's performance and future direction in the gaming accessory market.
Turtle Beach Corporation (Nasdaq: HEAR) has launched the VelocityOne™ Flightstick, a universal simulation controller aimed at air and space combat simulation gamers. Priced at
Turtle Beach Corporation (NASDAQ: HEAR) has launched the new Atom Controller, designed for mobile gaming. This controller features a unique two-piece design that magnetically connects and offers low-latency Bluetooth for a seamless gaming experience on Android devices. It accommodates nearly all smartphones and includes a one-month Xbox Game Pass Ultimate subscription. Available in various colors, retail price is set at $99.99, with pre-orders starting today. The Atom Controller aims to expand Turtle Beach's presence in the mobile gaming market.
Turtle Beach Corporation (NASDAQ: HEAR) has launched its Recon Cloud Hybrid Controller, marking its entry into mobile gaming accessories. The controller features wireless capabilities, a low-latency Bluetooth connection for Android devices, and a wired connection for Xbox Series X|S and Windows PCs. It boasts a battery life of over 30 hours and includes unique Turtle Beach audio features like Superhuman Hearing. Available in Blue Magma or Black for
Turtle Beach Corporation (Nasdaq: HEAR) has launched the Vulcan II Max, an optical-mechanical gaming keyboard featuring ROCCAT's TITAN II Optical-Mechanical Switches. These switches offer ultra-fast keystroke responses, a lifecycle of 100 million clicks, and the world's first Dual-LED Smart Switches for enhanced functionality. Retailing for $229.99, the Vulcan II Max combines performance with a stunning RGB-infused design, catering to both aesthetics and competitive gaming needs. Available now at retailers and online.
Turtle Beach Corporation (NASDAQ: HEAR) has launched the premium wireless Syn Max Air gaming headset, priced at
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