Turtle Beach Corp ( (TBCH) ) has released its Q4 earnings. Here is a breakdown of the information Turtle Beach Corp presented to its investors.
Turtle Beach Corporation is a prominent player in the gaming accessories industry, known for its innovative gaming headsets, controllers, and peripherals, and has recently expanded its portfolio through strategic acquisitions.
Turtle Beach Corporation has reported a record-breaking fourth quarter and full-year financial performance for 2024, showcasing significant growth in revenue and profitability. The company’s net revenue for the fourth quarter reached $146.1 million, marking a 47% increase compared to the previous year, while net income rose to $20.1 million.
Key financial highlights include a 44% increase in full-year net revenue to $372.8 million, the highest in the company’s history, and a substantial improvement in adjusted EBITDA, which surged to $56.4 million from $6.5 million the previous year. The acquisition of Performance Designed Products (PDP) has been a major growth driver, contributing to enhanced market reach and operational efficiency.
Looking ahead, Turtle Beach has initiated guidance for 2025, projecting net revenues between $395 million and $405 million, with adjusted EBITDA expected to grow by 21% to 28%. The company remains focused on expanding its market leadership and creating shareholder value through disciplined capital allocation and strategic growth initiatives.
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