Slide 1: Second Quarter 2025 Earnings Presentation
SECOND QUARTER 2025 EARNINGS PRESENTATION NASDAQ: TBCH | AUGUST 7, 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: Second Quarter 2025 Overview
SECOND QUARTER 2025 OVERVIEW Q2 revenue of $56.8M, supporting Turtle Beach’s prior full-year guidance Improved Q2 gross margins YOY to 32% from 30% • Demonstrates the execution of ongoing cost optimization initiatives Refinanced prior debt facilities with new $90 million revolving credit facility an
Slide 4: Q2'25 Financial Review
Q2'25 FINANCIAL REVIEW $ Millions Q2 25 Q2 24 Commentary (except per-share data) YOY decline driven by dampened market conditions in the gaming Revenue $56.8 $76.5 accessories industry in 2025 YTD. Comparatively, Q2 2024 saw strong channel fill due to extensive new products rollout +200 basis point
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 June 30, 2025 Cash & Cash Equivalents $11.7 Inventories $76.8 Revolving Credit Facility $19.9 Term Loan $43.3 Net Debt (debt less cash) $51.5 6
Slide 7: Unlocking Potential in the $11.2 Billion Gaming Accessories Market
UNLOCKING POTENTIAL IN THE $11.2 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 $1.4B Market Market Market Market Continue Leadership in Continue Growth in Contin
Slide 8: Appendix
APPENDIX 8
Slide 9: Recently Revealed Products & Highlights
RECENTLY REVEALED PRODUCTS & HIGHLIGHTS 9
Slide 10: Turtle Beach Brings the Airlite Fit to Nintendo Switch 2
TURTLE BEACH BRINGS THE AIRLITE FIT TO NINTENDO SWITCH 2 A NEW COLORWAY FEATURING OFFICIALLY LICENSED FOR NINTENDO SWITCH 2 BADGES Powerful game audio and clear chat, a new Charcoal Black colorway, and exceptional lightweight comfort, now also for gamers on Nintendo Switch 2 The original AirlIte was
Slide 11: Expanding Catalog of Racing Simulation Accessories
EXPANDING CATALOG OF RACING SIMULATION ACCESSORIES INTRODUCING THE VELOCITYONE RACE KD3 SYSTEM, VELOCITYONE F-RX WHEEL, & RACER WIRELESS WHEEL Turtle Beach expands the brand's reach further into the racing category. Turtle Beach entered the racing simulation category in 2023 with the VelocityOne Rac
Slide 12: Turtle Beach & Victrix Reload the BFG
TURTLE BEACH & VICTRIX RELOAD THE BFG TURTLE BEACH ADDS HALL EFFECT STICKS & TRIGGERS, PLUS REORIENTS THE CONTROLLER'S FIGHTPAD MODULE LAYOUT FULLY CUSTOMIZABLE 11 interchangeable components & three modules to fit any play style. The new Turtle Beach Victrix Pro BFG Reloaded Modular Controller Now F
Slide 13: Turtle Beach Goes Bananas for Donkey Kong
TURTLE BEACH GOES BANANAS FOR DONKEY KONG TURTLE BEACH INTRODUCES OFFICIALLY LICENSED DONKEY KONG WIRELESS CONTROLLER FOR NINTENDO SWITCH SYSTEMS TIME FOR A REMATCH WITH DONKEY KONG. Gamers can elevate their gameplay with the Donkey Kong Rematch Wireless Controller for Nintendo Switch, Nintendo Swit
Slide 14: 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 official
Slide 15: 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 contro
Slide 16: GAAP Net Income to Adjusted EBITDA Reconciliation
GAAP NET INCOME TO ADJUSTED EBITDA RECONCILIATION SECOND QUARTER 2025 COMPARED TO 2024 Three Months Ended June 30, 2025 June 30, 2024 (in thousands) (in thousands) Net (loss) Income ($2,931) ($7,524) Interest expense 2,049 2,220 Depreciation and amortization 3,098 3,306 Stock-based compensation 1,00
Slide 17: 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 18: Thank You
oS unl, YOU