Turtle Beach (TBCH) Company Report

Turtle Beach Corporation (TBCH) entered into a First Amendment to Credit Agreement on December 29, 2025, which modified its credit agreement originally dated August 1, 2025.
The amendment revises the definition of "Consolidated Fixed Charge Coverage Ratio" to permit the exclusion of up to $10,000,000 of restricted payments from the denominator calculation for the trailing twelve-month period ending March 31, 2026.
An additional $10,000,000 of restricted payments can also be excluded for the trailing twelve-month period ending June 30, 2026.

Dec 30, 2025, 9:54 PM

Turtle Beach Corporation Announces Third Quarter 2025 Financial Results and Reiterates Full Year Guidance

TBCH

Earnings

Guidance Update

Share Buyback

Net revenue for the third quarter ended September 30, 2025, was $80.5 million, with gross margin improving to 37.4%, a year-over-year increase of nearly 120 basis points.
The company reported net income of $1.7 million and Adjusted EBITDA of $11.0 million for Q3 2025.
Turtle Beach Corporation reiterated its full year 2025 guidance, expecting net revenue between $340 million and $360 million and Adjusted EBITDA between $47 million and $53 million.
During the third quarter, the company repurchased over $10 million of shares at an average price of $14.40 per share and refinanced its debt, reducing the cost of capital on the term loan by over 450 basis points.