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Nasdaq · Communication Services

Turtle Beach Corp (TBCH)

As-reported financials and SEC filings for Turtle Beach Corp. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Turtle Beach Corp

Turtle Beach Corp designs and sells gaming accessories such as headsets, controllers, keyboards, mice, microphones, and simulation hardware. The company serves gamers across multiple platforms including Xbox, PlayStation, Nintendo, PC, mobile, and tablets. It distributes its products globally through major retailers and targets a range of customers from entry-level gamers to professional esports players.

Snapshot

Revenue
$319.9M
Revenue growth (YoY)
-14.2%
Net income
$15.7M
Diluted EPS
$0.77
Gross margin
37.3%
Operating margin
8.6%
Net margin
4.9%
FCF margin
10.6%
ROE
12.2%
net income / fiscal-year-end equity
P/E
n/m
not meaningful: a reported loss in the fiscal year or the trailing twelve months
Market cap
$240.7M
Long-term debt / equity
0.36×
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Turtle Beach

  • Revenue fell 14.2% to $320M in FY2025, slower than the 44.4% the year before.
  • Operating margin is 8.6% in FY2025, +3.0 pp against 5.6% in FY2021.
  • Most recent quarter Q2 FY2026: revenue $56M, down 0.7% from Q2 FY2025.
  • Free cash flow was $34M in FY2025, 10.6% of revenue.
  • Net income fell 2.8% to $16M in FY2025.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Turtle Beach’s fundamentals sit among the 214 Communication Services companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin37.3%
33rd percentile of 103
Operating margin8.6%
70th percentile of 183
Net margin4.9%
71st percentile of 189
FCF margin10.6%
70th percentile of 163
Revenue growth (YoY)-14.2%
12th percentile of 207
ROE12.2%
76th percentile of 163
Long-term debt / equity0.36×
37th percentile of 100
Short interest16.84d
99th percentile of 213

Turtle Beach’s revenue growth of -14.2% ranks in the 12th percentile of the 207 Communication Services companies reporting it.

No reported insider purchases (code P) in the last 90 days; 3 insider sales totaling $3.6M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among sector peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 2 quant / multi-strat books among the superinvestors we track; no conviction manager currently reports a position.

Conviction investors
0
+2 quant / multi-strat
Initiated / added
1
0 new, 1 added
Reduced / exited
1
1 trimmed, 0 exited
Combined position
$4.5M
reported long value
InvestorAs ofPosition valueSharesChange
D. E. ShawquantQ2 2026$3.5M278.6KAdded
AQR Capital ManagementquantQ2 2026$1.0M81.0KReduced

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
—
code P value
Sells (90d)
3
$3.6M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-12
DC VGA LLC10% ownerSell5.7K$13.00$74K
2026-08-11
filed 2026-08-12
DC VGA LLC10% ownerSell140.0K$12.67$1.8M
2026-08-10
filed 2026-08-12
DC VGA LLC10% ownerSell140.0K$12.70$1.8M
2026-05-29
Katherine Lee ScherpingDirectorSell2.0K$13.25$27K
2026-05-27
filed 2026-05-29
Katherine Lee ScherpingDirectorSell5.0K$13.20$66K
2026-05-27
filed 2026-05-29
Katherine Lee ScherpingDirectorSell1.8K$12.82$24K

Reported non-derivative purchases and sales (codes P/S), which may be open-market or private. Excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
4.7M
settled 2026-09-30
Change vs prior
+4.0%
vs previous settlement
Days to cover
16.84
at avg daily volume
Avg daily volume
278.9K
FINRA reported
SettlementShares shortChangeDays to cover
2026-09-304.7M+4.0%16.84
2026-09-154.5M+3.6%14.91
2026-08-314.4M-0.5%9.95
2026-08-144.4M+2.5%10.02
2026-07-314.3M-0.9%19.60
2026-07-154.3M+4.3%19.67
2026-06-304.1M+7.8%11.01
2026-06-153.8M+18.3%9.66

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022FY2021
Revenue$319.9M$372.8M$258.1M$240.2M$366.4M
Gross profit
Operating income$27.5M$20.0M$-16.4M$-51.5M$20.4M
Net income$15.7M$16.2M$-17.7M$-59.5M$17.7M
Diluted EPS$0.77$0.78$-1.03$-3.62$0.97

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022FY2021
Cash and equivalents$17.0M$13.0M$18.7M$11.4M$37.7M
Current assets$173.8M$188.4M$124.9M$135.2M$193.1M
Total assets$269.1M$298.9M$150.0M$163.4M$230.5M
Current liabilities$87.7M$123.7M$56.3M$64.3M$78.2M
Long-term debt$46.3M$45.6M———
Total liabilities$140.6M$178.3M$64.9M$74.4M$89.1M
Total equity$128.5M$120.6M$85.1M$88.9M$141.4M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022FY2021
Operating cash flow$35.5M$5.8M$27.0M$-41.8M$-327,000
Capital expenditure$1.4M$4.9M$2.2M$3.5M$5.6M
Free cash flow

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (tap or hover a figure to see how it was calculated or what was filed). Full details: where the numbers come from.

Quarterly trend

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$56.4M-0.7%$-7.3M$-0.38
Q1 FY2026$42.2M-34.0%$-15.2M$-0.78
Q4 FY2025-18.7%
Q3 FY2025$80.5M-14.7%$1.7M$0.08
Q2 FY2025$56.8M-25.8%$-2.9M$-0.14
Q1 FY2025$63.9M14.4%$-664,000$-0.03
Q4 FY202446.8%
Q3 FY2024$94.4M59.5%$3.4M$0.16

Latest 8 quarters, from company XBRL filings on SEC EDGAR. A dotted underline marks a fourth-quarter figure we calculated from the full year and the first nine months. Revenue YoY is our calculation too: each quarter against the same quarter a year earlier.

Company facts

ExchangeNasdaq
SectorCommunication Services
SIC industryCommunications Equipment, NEC
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2011
SEC CIK1493761

Selected SEC filings

10-K2026-03-12
View on EDGAR →
10-Q2026-08-06
View on EDGAR →
10-Q2026-05-07
View on EDGAR →
8-K2026-08-06
View on EDGAR →
8-K2026-08-03
View on EDGAR →
8-K2026-06-02
View on EDGAR →
8-K2026-05-20
View on EDGAR →

Largest Communication Services peers

All Communication Services companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.