Turtle Beach Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	347.21	372.77	258.12	240.17	366.35	360.09
Revenue Growth (YoY)	6.43%	44.41%	7.48%	-34.44%	1.74%	53.45%
Cost of Revenue	218.14	238.3	182.62	190.98	237.97	226.31
Gross Profit	129.07	134.46	75.5	49.19	128.38	133.79
Selling, General & Admin	85.85	80.82	74.81	79.65	90.38	71.81
Research & Development	17.13	17.3	17.14	19.12	17.49	12.27
Operating Expenses	102.97	98.12	91.95	98.77	107.87	84.07
Operating Income	26.1	36.34	-16.44	-49.58	20.51	49.72
Interest Expense	-10.76	-8.07	-0.5	-1.22	-0.38	-0.47
Other Non Operating Income (Expenses)	-1.1	-1.29	-0.39	-1.75	-1.83	0.93
EBT Excluding Unusual Items	14.25	26.99	-17.34	-52.56	18.3	50.18
Merger & Restructuring Charges	-2.1	-12.92	-	-	-0.08	-0.55
Asset Writedown	-	-	-	-1.9	-	-
Other Unusual Items	-3.4	-3.4	-	-	1.93	2.82
Pretax Income	18.15	10.67	-17.34	-54.45	20.15	52.46
Income Tax Expense	-0.11	-5.51	0.34	5.09	2.43	13.71
Net Income	18.26	16.18	-17.68	-59.55	17.72	38.75
Net Income to Common	18.26	16.18	-17.68	-59.55	17.72	38.75
Net Income Growth	297.32%	-	-	-	-54.26%	115.93%
Shares Outstanding (Basic)	20	20	17	16	16	15
Shares Outstanding (Diluted)	21	21	17	16	18	16
Shares Change (YoY)	8.78%	21.58%	4.16%	-9.87%	11.53%	4.32%
EPS (Basic)	0.90	0.81	-1.03	-3.62	1.11	2.62
EPS (Diluted)	0.87	0.78	-1.03	-3.62	0.97	2.37
EPS Growth	270.92%	-	-	-	-59.07%	127.50%
Free Cash Flow	33.74	0.85	24.89	-45.4	-5.95	45.39
Free Cash Flow Per Share	1.60	0.04	1.45	-2.76	-0.33	2.77
Gross Margin	37.17%	36.07%	29.25%	20.48%	35.04%	37.15%
Operating Margin	7.52%	9.75%	-6.37%	-20.65%	5.60%	13.81%
Profit Margin	5.26%	4.34%	-6.85%	-24.79%	4.84%	10.76%
Free Cash Flow Margin	9.72%	0.23%	9.64%	-18.90%	-1.62%	12.60%
EBITDA	38.7	47.73	-11.6	-43.77	25.82	54.97
EBITDA Margin	11.14%	12.80%	-4.50%	-18.22%	7.05%	15.26%
D&A For EBITDA	12.6	11.39	4.84	5.82	5.31	5.25
EBIT	26.1	36.34	-16.44	-49.58	20.51	49.72
EBIT Margin	7.52%	9.75%	-6.37%	-20.65%	5.60%	13.81%
Effective Tax Rate	-	-	-	-	12.05%	26.14%
Advertising Expenses	-	3.8	3.9	4.9	9.7	8.5

Source: S&P Global Market Intelligence. Standard template. Financial Sources.