Turtle Beach Corporation · NASDAQ:TBCH
Turtle Beach — Q1 2025 Earnings Presentation
17 slides from Turtle Beach's earnings presentation, May 8, 2025
Slide 1: First Quarter 2025 Earnings Presentation
FIRST QUARTER 2025 EARNINGS PRESENTATION NASDAQ: TBCH | MAY 8, 2025
Slide 2: Safe Harbor Statement & Important Information
SAFE HARBOR STATEMENT & IMPORTANT INFORMATION Forward-Looking Information and Statements This presentation, including the appendix, includes forward-looking information and statements within the meaning of the federal securities laws. Except for historical information contained in this release, stat
Slide 3: First Quarter 2025 Overview
FIRST QUARTER 2025 OVERVIEW Q1 revenue of $64M, up 14% vs. prior year • Revenue growth primarily driven by incremental PDP sales, partially offset by gaming accessory market decrease Improved Q1 gross margins by 470 bps YOY and grew Adjusted EBITDA 180% to $4.1M • Reflects higher net revenue, improv
Slide 4: Q1'25 Financial Review
Q1'25 FINANCIAL REVIEW $ Millions Q1 25 Q1 24 Commentary (except per-share data) +14% YOY primarily driven by a full quarter of contribution from PDP Revenue $63.9 $55.9 and partially offset by gaming accessory market decrease +470 basis point YOY improvement driven by cost efficiencies and Gross Ma
Slide 5: Long-Term Growth Remains the Guiding Principle
LONG-TERM GROWTH REMAINS THE GUIDING PRINCIPLE 2025 GUIDANCE LONG-TERM FINANCIAL TARGETS Metric Target Net Revenue Adj. EBITDA Revenue 10%+ CAGR $340M – $360M $47M – $53M Gross Margins % Mid-to-High 30’s Adjusted EBITDA Mid-to-High Teens Margins Guidance assumes gaming • Long-term financial targets
Slide 6: Balance Sheet Summary
BALANCE SHEET SUMMARY Balance Sheet Highlights $ Millions As of March 31, 2025 Cash & Cash Equivalents $11.7 Inventories $73.7 Revolving Credit Facility $6.6 Term Loan $48.6 Net Debt (debt less cash) $43.6 6
Slide 7: Unlocking Potential in the $11 Billion Gaming Accessories Market
UNLOCKING POTENTIAL IN THE $11 BILLION GAMING ACCESSORIES MARKET STRENGTHENING TURTLE BEACH’S POSITION AS A LEADING 3RD PARTY GAMING ACCESSORIES MAKER Headsets Controllers PC Peripherals Simulation $2.9B $3.0B $3.9B $1.2B Market Market Market Market Continue Leadership in Continue Growth in Continue
Slide 8: Appendix
APPENDIX 8
Slide 9: Recently Revealed Products & Highlights
RECENTLY REVEALED PRODUCTS & HIGHLIGHTS 9
Slide 10: Recon 70 Now Officially Licensed by Nintendo
RECON 70 NOW OFFICIALLY LICENSED BY NINTENDO TURTLE BEACH’S BEST-SELLING WIRED GAMING HEADSET GETS THE NINTENDO SWITCH TREATMENT Turtle Beach’s best-selling wired gaming headset makes it official with Nintendo Turtle Beach’s Recon 70 has been a top- rated and best-selling wired gaming headset for ye
Slide 11: Introducing the Turtle Beach Airlite Fit for Nintendo Switch
INTRODUCING THE TURTLE BEACH AIRLITE FIT FOR NINTENDO SWITCH TURTLE BEACH’S AIRLITE FIT IS THE NEXT EVOLUTION OF PDP’S ORIGINAL AIRLITE HEADSET Powerful game audio and clear chat, vibrant designs, and exceptional lightweight comfort for gamers on Nintendo Switch The original Airlite was formerly a t
Slide 12: New Rematch Wireless Controllers for Nintendo Switch
NEW REMATCH WIRELESS CONTROLLERS FOR NINTENDO SWITCH INSPIRED GLOW-IN-THE-DARK SUPER MARIO-THEMED DESIGNS FOR NINTENDO FANS Merging Gaming Accessories, Fandom & Collectability Turtle Beach’s latest Rematch Wireless Controllers for Nintendo Switch are perfect for Mario and Nintendo fans and officiall
Slide 13: An Expanding Roster of Designed for Xbox Controllers
AN EXPANDING ROSTER OF DESIGNED FOR XBOX CONTROLLERS 10 NEW WIRED CONTROLLERS DESIGNED FOR XBOX & WINDOWS PC An expanding catalog of affordable, Designed for Xbox and Windows PC wired controllers, including two new models available in 10 different colorways The Afterglow Wave is a wired game control
Slide 14: Growing Turtle Beach Leadership in Controllers
GROWING TURTLE BEACH LEADERSHIP IN CONTROLLERS TURTLE BEACH CONTINUES EXPANDING IN THE GLOBAL $4.2B CONTROLLERS & SIM MARKET Turtle Beach is the second largest third-party controllers brand with nearly 30% share(1). Premium Wireless & Gaming Simulation Wired Controllers Groundbreaking, industry-lead
Slide 15: GAAP Net Income to Adjusted EBITDA Reconciliation
GAAP NET INCOME TO ADJUSTED EBITDA RECONCILIATION FIRST QUARTER 2025 COMPARED TO 2024 Three Months Ended March 31, 2025 March 31, 2024 (in thousands) (in thousands) Net (loss) Income ($664) $155 Interest expense 2,006 150 Depreciation and amortization 3,126 1,476 Stock-based compensation 1,912 1,105
Slide 16: Contacts
CONTACTS Investor Relations: Turtle Beach: ICR MacLean Marshall 646.277.1285 Sr. Director, Global Communications TBCH@icrinc.com Turtle Beach Corporation +1 (858) 269-2137 maclean.marshall@turtlebeach.com
Slide 17: Thank You
oS unl, YOU