TBCHTurtle Beach Corp
Communications Equipment, NEC
- Revenue
- $320M
- 14% YoY
- Operating margin
- 8.6%
- 60% YoY
- EBITDA
- $32M
- 31% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- 1.1×
- $34M net debt
- AI in 10-K
- —
Red flags 0 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear225% of net incomeCash flow under 80% of net income
- Dilutive SBCClear2% of revenueOver 10% of revenue
- Payouts exceed cash flowClear53% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear23% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $366M | $240M | $258M | $373M | $320M | 14% |
| Operating income | $20M | −$51M | −$16M | $20M | $28M | 37% |
| Net income | $18M | −$60M | −$18M | $16M | $16M | 2.8% |
| Operating cash flow | −$327K | −$42M | $27M | $6M | $35M | 515% |
| Capex | $6M | $4M | $2M | $5M | $1M | 71% |
| Stock-based comp | $8M | $8M | $12M | $6M | $6M | 0.1% |
| Buybacks | $5M | — | $974K | $28M | $19M | 32% |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | — | — | 65 | 83 |
| FY2024 | — | — | 183 | 108 |
| FY2023 | — | — | 116 | 116 |
| FY2022 | — | — | 76 | 99 |
| FY2021 | — | — | 236 | 143 |