Turtle Beach Reports Retail Console Gaming Headset Sales In North America Set Record For July

Rhea-AI Summary

Turtle Beach (Nasdaq: HEAR) announced record retail sales for July 2020, achieving the highest revenue and unit sales in its history for this month, according to NPD. The company captured over 50% market share in console headsets sold in North America for July, with strong performances from its Recon 70 series and newly launched Stealth 700 and 600 Gen 2 headsets. These new products are compatible with the latest gaming consoles and are sold at $149.95 and $99.95, respectively. CEO Juergen Stark emphasized the brand's strength amidst a booming gaming industry.

Positive

• Record July sales in revenue and units for 2020.
• Over 50% market share in console headsets for July 2020.
• Successful launch of Stealth 700 and 600 Gen 2 headsets.

Negative

• None.

SAN DIEGO, Aug. 19, 2020 /PRNewswire/ -- Turtle Beach (Nasdaq: HEAR), a leading console gaming headset and audio accessory brand, today revealed the Company's July 2020 retail sales in North America were the highest July sales in its history, in both revenue and units, according to NPD July 2020 sales data¹. Turtle Beach also recorded its highest unit share ever for a July, with over 50% of all console headsets sold in North America in July 2020 being from Turtle Beach.

"July 2020 results continue to demonstrate the strength of the Turtle Beach brand amidst the backdrop of a record-breaking year for the video game industry," said Juergen Stark, CEO, Turtle Beach. "The continued success of our best-selling Recon 70 series wired headsets, plus our newly revealed Stealth 700 Gen 2 & Stealth 600 Gen 2 headsets – remastered versions of our best-selling wireless products for Xbox and PlayStation^® – places us in a prime position to continue leading 2020 and beyond as the top gaming headset brand."

Turtle Beach's all new Stealth 700 Gen 2 & Stealth 600 Gen 2 are the first cross-generation console headsets designed to work with Xbox One and Xbox Series X, and PlayStation^®4 and PlayStation^®5 ². They feature wireless connectivity, powerful game sound and clear chat, unmatched comfort, and a variety of premium features for $149.95 and $99.95, respectively. Stealth 700 & 600 Gen 2 for Xbox One and Xbox Series X are also compatible with PCs running Windows 10 and Windows 8.1, while Stealth 700 & 600 Gen 2 for PlayStation are compatible with Nintendo Switch™³ and will also work on PC. Turtle Beach's best-selling Recon 70 series headsets are available in a variety of colors for a MSRP of $49.95, and are compatible across all platforms. Whether gaming, working from home, or learning from home, a Turtle Beach headset will help you perform better.

For more information on Turtle Beach's complete line-up of gaming headsets visit www.turtlebeach.com and be sure to follow Turtle Beach on Facebook, Twitter and Instagram.

About Turtle Beach Corporation
Turtle Beach Corporation (corp.turtlebeach.com) is one of the world's leading gaming audio and accessory providers. The Turtle Beach brand (www.turtlebeach.com) is known for pioneering first-to-market features and patented innovations in high-quality, comfort-driven headsets for all levels of gamer, making it a fan-favorite brand and the market leader in console gaming audio for the last decade. Turtle Beach's ROCCAT brand (www.roccat.org) combines detail-loving German innovation with a genuine passion for designing the best PC gaming products. Under the ROCCAT brand, Turtle Beach creates award-winning keyboards, mice, headsets, mousepads, and other PC accessories. Turtle Beach's shares are traded on the Nasdaq Exchange under the symbol: HEAR.

Cautionary Note on Forward-Looking Statements
This press release includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, statements in this release may constitute forward-looking statements regarding assumptions, projections, expectations, targets, intentions or beliefs about future events. Statements containing the words "may", "could", "would", "should", "believe", "expect", "anticipate", "plan", "estimate", "target", "project", "intend" and similar expressions constitute forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, which could cause actual results to differ materially from those contained in any forward-looking statement. Forward-looking statements are based on management's current belief, as well as assumptions made by, and information currently available to, management.

While the Company believes that its expectations are based upon reasonable assumptions, there can be no assurances that its goals and strategy will be realized. Numerous factors, including risks and uncertainties, may affect actual results and may cause results to differ materially from those expressed in forward-looking statements made by the Company or on its behalf. Some of these factors include, but are not limited to, market acceptance of next-generation videogame consoles, risks related to the Company's liquidity, the substantial uncertainties inherent in the acceptance of existing and future products, the difficulty of commercializing and protecting new technology, the impact of competitive products and pricing, general business and economic conditions, risks associated with the expansion of our business including the implementation of any businesses we acquire, our indebtedness, the outcome of our HyperSound strategic review process and other factors discussed in our public filings, including the risk factors included in  the Company's most recent Quarterly Report on Form 10-Q, the Company's most recent Annual Report on Form 10-K, and the Company's other periodic reports. Except as required by applicable law, including the securities laws of the United States and the rules and regulations of the Securities and Exchange Commission, the Company is under no obligation to publicly update or revise any forward-looking statement after the date of this release whether as a result of new information, future developments or otherwise.

All trademarks are the property of their respective owners.

¹Source: The NPD Group/Retail Tracking Service/Video Games/Dollars and Units/US and Canada/July 2020

²Sony has indicated that PS4™ headsets will be compatible with PS5™. Turtle Beach anticipates the Company's Stealth 700 Gen 2 and Stealth 600 Gen 2 wireless gaming headsets will be compatible with the upcoming system.

³Stealth 700 Gen 2 and Stealth 600 Gen 2 for PlayStation are compatible with Nintendo Switch™ while in docked mode only.                                                                         

                                                             

View original content to download multimedia:http://www.prnewswire.com/news-releases/turtle-beach-reports-retail-console-gaming-headset-sales-in-north-america-set-record-for-july-301114593.html

SOURCE Turtle Beach Corporation

FAQ

What were Turtle Beach's retail sales figures for July 2020?

Turtle Beach reported the highest retail sales for July 2020 in both revenue and units sold in its history.

What market share did Turtle Beach achieve in July 2020?

Turtle Beach achieved over 50% market share for console headsets sold in North America in July 2020.

What are the prices of the new Stealth 700 and 600 Gen 2 headsets?

The Stealth 700 Gen 2 is priced at $149.95 and the Stealth 600 Gen 2 at $99.95.

How does Turtle Beach's new product lineup affect its market position?

The launch of the Stealth 700 and 600 Gen 2 headsets positions Turtle Beach favorably in the competitive gaming headset market.